China Economy Forum
- Thread starter EagleEyes
- Start date
Huawei Lands First UK Mobile Deal
Huawei Technologies Co. Ltd. has broken into the mobile equipment market in the U.K. by winning a contract with the country's largest operator, Everything Everywhere Ltd. .
Bloomberg reported news of the deal over the weekend and it was verified early Monday by a Light Reading Mobile industry source. The operator made the news official late Monday morning, though financial details were not announced. (See Everything Everywhere Picks Huawei.)
The deal is the Chinese vendor's first major mobile infrastructure supply contract in the U.K.
Huawei has been stepping up its presence in the U.K. recently. The company said it plans to add 500 new jobs in the country during the next three years and generate between 1,000 and 1,500 subcontracting roles during the same period. (See Huawei to Hire 500 in UK.)
And at the end of last year, the company opened a new "Cyber Security Evaluation Center" in Banbury. (See Huawei Opens UK Security Evaluation Center.)
Everything Everywhere, the U.K. joint venture between Deutsche Telekom AG (NYSE: DT) and France Telecom SA (NYSE: FTE), is consolidating the two operators' 2G and 3G networks. As part of the network integration project, the company has undertaken a wide-ranging vendor review to streamline its equipment suppliers and renegotiate its managed services contracts, which will contribute to its target of saving £466 million (US$763 million) in operating costs annually by 2014 and to cut £200 million ($327 million) from its capital expenditure budget over a five-year period. (See UK Giant Eyes LTE in Vendor Review , UK Mobile Giant Flexes Its Muscle and Orange, T-Mobile Do Everything Everywhere .)
Why this matters
Huawei has landed some key mobile accounts in Western Europe, but this will be the first time that the vendor has won an equipment supply deal with a mobile operator in the U.K.
And this particular customer is important because it could be a stepping stone to bigger deals in Europe. The two European giants behind Everything Everywhere have just joined forces on a larger scale through a procurement joint venture, part of which will include combined efforts on network equipment supply contracts. So, Everything Everywhere's vendor selections could be a model for the rest of Deutsche Telekom and France Telecom's combined footprint, at least for their mobile operations. (See DT & FT Deepen Ties and FT, DT Form Procurement JV.)
The vendors most likely to be licking their wounds later today are incumbent suppliers Ericsson AB (Nasdaq: ERIC) and Nokia Siemens Networks .
For more
Huawei's already a major force in Europe:
* Huawei Profits Climb 30% in 2010
* Huawei Sets Lawyers on ZTE
* Portugal Telecom Trials 10G GPON With Huawei
* Option Drops Complaints Against Huawei
* Telefónica to Go Global With Huawei SDP
* Ericsson, Huawei Land Vodafone LTE Gig
Michelle Donegan, European Editor, Light Reading Mobile
Light Reading Mobile - IP & Convergence - Huawei Lands First UK Mobile Deal - Telecom News Analysis
Huawei Technologies Co. Ltd. has broken into the mobile equipment market in the U.K. by winning a contract with the country's largest operator, Everything Everywhere Ltd. .
Bloomberg reported news of the deal over the weekend and it was verified early Monday by a Light Reading Mobile industry source. The operator made the news official late Monday morning, though financial details were not announced. (See Everything Everywhere Picks Huawei.)
The deal is the Chinese vendor's first major mobile infrastructure supply contract in the U.K.
Huawei has been stepping up its presence in the U.K. recently. The company said it plans to add 500 new jobs in the country during the next three years and generate between 1,000 and 1,500 subcontracting roles during the same period. (See Huawei to Hire 500 in UK.)
And at the end of last year, the company opened a new "Cyber Security Evaluation Center" in Banbury. (See Huawei Opens UK Security Evaluation Center.)
Everything Everywhere, the U.K. joint venture between Deutsche Telekom AG (NYSE: DT) and France Telecom SA (NYSE: FTE), is consolidating the two operators' 2G and 3G networks. As part of the network integration project, the company has undertaken a wide-ranging vendor review to streamline its equipment suppliers and renegotiate its managed services contracts, which will contribute to its target of saving £466 million (US$763 million) in operating costs annually by 2014 and to cut £200 million ($327 million) from its capital expenditure budget over a five-year period. (See UK Giant Eyes LTE in Vendor Review , UK Mobile Giant Flexes Its Muscle and Orange, T-Mobile Do Everything Everywhere .)
Why this matters
Huawei has landed some key mobile accounts in Western Europe, but this will be the first time that the vendor has won an equipment supply deal with a mobile operator in the U.K.
And this particular customer is important because it could be a stepping stone to bigger deals in Europe. The two European giants behind Everything Everywhere have just joined forces on a larger scale through a procurement joint venture, part of which will include combined efforts on network equipment supply contracts. So, Everything Everywhere's vendor selections could be a model for the rest of Deutsche Telekom and France Telecom's combined footprint, at least for their mobile operations. (See DT & FT Deepen Ties and FT, DT Form Procurement JV.)
The vendors most likely to be licking their wounds later today are incumbent suppliers Ericsson AB (Nasdaq: ERIC) and Nokia Siemens Networks .
For more
Huawei's already a major force in Europe:
* Huawei Profits Climb 30% in 2010
* Huawei Sets Lawyers on ZTE
* Portugal Telecom Trials 10G GPON With Huawei
* Option Drops Complaints Against Huawei
* Telefónica to Go Global With Huawei SDP
* Ericsson, Huawei Land Vodafone LTE Gig
Michelle Donegan, European Editor, Light Reading Mobile
Light Reading Mobile - IP & Convergence - Huawei Lands First UK Mobile Deal - Telecom News Analysis
Obambam
SENIOR MEMBER
- Joined
- Jan 17, 2011
- Messages
- 3,646
- Reaction score
- 0
- Country
- Location
10 May 2011
China's trade surplus beats forecasts, as yuan in focus China's currency, the renminbi, has been a point of dispute between China and other countries.
China's trade surplus in April was nearly four times bigger than expected, with exports far exceeding imports.
The trade surplus was $11.4bn (£6.9bn), according to the customs agency, whereas analysts had expected a figure of about $3bn.
In March, China reported an unexpected trade surplus of $140m.
The news comes during US-China talks on trade relations and will put the issue of the Chinese currency in the spotlight.
Many in the US, especially exporters, argue that China's currency is undervalued, making Chinese goods highly competitive in world markets.
China's exports grew 29.9% in April from a year earlier, while import growth slowed to 21.8% year on year.
"Today's trade data shows that Chinese exporters continue to benefit from a supportive exchange rate," said Brian Jackson from Royal Bank of Canada in Hong Kong.
"This number will likely add to the pressure from Washington for Beijing to allow faster currency appreciation, but more importantly should persuade Chinese policy-makers that a stronger yuan can be tolerated by the economy and is warranted as part of their efforts to curb price pressures."
On Monday, US Treasury Secretary Timothy Geithner said China was making progress "towards a more flexible exchange rate".
Rebalancing trade?
China reported a trade deficit of $1.02bn for the first three months of the year.
Some analysts say that government efforts to rebalance the economy by boosting domestic demand could cut down the full-year surplus.
"I think the trade surplus will continue to shrink as a share of the country's [gross domestic product], and China is seeing a more balanced trade structure," said Du Zhengzheng from Bohai securities in Beijing.
BBC News - China's trade surplus beats forecasts, as yuan in focus
Martian2
SENIOR MEMBER
- Joined
- Dec 15, 2009
- Messages
- 5,809
- Reaction score
- -37
Dai Bingguo: China's Peaceful Development Is Good for America - WSJ.com
"China's Peaceful Development Is Good for America
By DAI BINGGUO
MAY 9, 2011, 9:32 P.M. ET
But first both sides need to build a relationship of equality and mutual trust.
Hillary Clinton (right) toasts Hu Jintao during his visit to Washington in January. (Reuters)
The past 40 years have seen a growth in China-United States relations that no one would have imagined when the rapprochement between the two nations began. The ubiquity of "Made in China" products in the U.S. bespeaks deep economic ties; 120,000 Chinese students study in America; and an increasing number of Americans learn the Chinese language. America is likewise present in China: Every day, hundreds of thousands of Chinese travel on Boeing airplanes; young people wait in long queues to buy the latest iPhone; and Americans are the second-largest population in China.
However, despite such closeness in our relations, many American friends still do not know the true China. The visit to America my colleagues and I make this week for the latest Strategic and Economic Dialogue is to implement the agreement reached between our respective leaders during President Hu Jintao's visit in January, so as to advance the China-U.S. cooperative partnership based on mutual respect and mutual benefit. It is another opportunity for both Chinese and Americans to improve our understanding of, and relationship with, each other.
A central message we would like to convey to our American friends is that China is committed to the path of peaceful development. Over the past 60 years since the founding of the People's Republic, and especially the past 30 years of reform and opening up, China has undergone a sweeping and profound social transformation. The Chinese people, talented and hard-working, with their determination for self-improvement and a readiness to learn from others, have found a new development path to modernization in a globalized world. We call it "the path of peaceful development." It is a path to promote peace and common development of the world with our own development.
China's economy has maintained an annual average growth of over 9%, its GDP growing 16-fold to become the second-largest in the world. Yet it remains a developing country. GDP per head, a mere $4,000, is not even one-tenth that of the U.S. and ranks around 100th place in the world. We have to create 25 million new jobs every year. In terms of development, China is at least decades, if not centuries, behind the United States.
China has never thought of vying for leading position in the world. We have had more than enough of tough days. The only thing we want is that, with our hard work and wisdom, plus the cooperation and exchanges with other countries, we can lift the Chinese people out of poverty.
That development will benefit not only China, but also the rest of the worldand especially America. For nine consecutive years, China has been the fastest-growing export market for the U.S. American exports to China grew by 32% last year and 33.3% in the first three months of this year. For 40 of the 50 American states, China ranks among their top five export markets.
A recent report by the American Chamber of Commerce in China reveals that 85% of the American companies in China reported good profits in 2010, 78% of them saw their profits grow by a big margin, and 83% of them intended to increase investment in China. For several years in a row, it has been the only growing market among America's top 10 auto export markets.
Large imports of inexpensive yet quality products from China have enabled the U.S. to keep inflation at bay and saved American consumers more than $600 billion in the last 10 years. In the same period, more than 3.25 million jobs have been created in the U.S. thanks to exports to China.
The growing inward investment by Chinese companies has also created a large number of jobs in the U.S. For instance, the Chicago-based Wanxiang America Corporation has created over 5,600 jobs. China has in recent years been the fastest-growing source of inbound tourists for the United States. Last year, as many as 490,000 Chinese tourists visited. They brought considerable business opportunity for the U.S. service sector.
A stronger and more influential China has cooperated with the U.S. in international affairs and played a positive and constructive role. China and the U.S. have conducted effective communication and coordination on such hotspot issues as the Korean and Iranian nuclear issues as well as global counterterrorism, nonproliferation and climate change. In dealing with the international financial crisis, China has helped the U.S. to get through the difficult times. China is a partner the United States can count on.
Our challenge, both this week and at other such summits in the future, is to work together so that growing prosperity on each side of the Pacific Ocean becomes mutually reinforcing.
America has a role to play in the transformation of China's economic growth pattern, as put forward in the recently unveiled 12th Five-Year plan (2011-2015), toward greater domestic consumption. China's market is expected to become one of the world's largest in the not too distant future. If American enterprises seize this opportunity, "Made in USA" products will have more chances to their competitiveness in the vast Chinese market.
China will further open sectors where investment and trade already are open, and will open new sectors to foreign involvement. It will create an environment favorable to the long-term development of foreign investors. China will increase imports and pursue a basically balanced trade instead of a trade surplus.
Washington has a role to play in allowing American companies to capitalize on these new opportunities. Relaxing controls on the export of high-tech products to China will improve the China-U.S. trade pattern, which will in turn boost President Obama's strategy to double American exports.
China will encourage its capable enterprises to move into overseas markets. As long as the U.S. adopts a more inclusive and open policy, many Chinese enterprises, including private ones, would increase investment in America, which will create more jobs locally and help the U.S. alleviate its debt and fiscal pressures by boosting growth.
China will make great efforts to build a resource-efficient and environment-friendly society, develop circular economy and promote low-carbon technologies. New energy, new materials, energy-efficient and environment-friendly technologies and products are precisely where U.S. strengths and its future priorities lie. Cooperation in green endeavors will make a major contribution to mitigating global climate change.
China and America have the capability and wisdom to build trust, address problems, expand common interests and achieve mutual benefit through dialogue, exchanges and greater cooperation.
Ours should be a relationship of equality and mutual trust in which we both take a rational and objective view of each other's strategic intentions. It should be a relationship of cooperation and mutual benefit. We should each respect the other's choice of social system and development path as well as the sovereignty, territorial integrity and development interest of the other side and appropriately manage our differences and problems.
As one of the most important bilateral relationships in the world today, the China-U.S. relationship affects not only the well-being of our people, but the future of our world. We have a responsibility to get along with each other. This way, the China-U.S. cooperative partnership will take deep roots, bear rich fruits and benefit our two peoples and the entire world.
Mr. Dai is a state councilor of the People's Republic of China."
"China's Peaceful Development Is Good for America
By DAI BINGGUO
MAY 9, 2011, 9:32 P.M. ET
But first both sides need to build a relationship of equality and mutual trust.
Hillary Clinton (right) toasts Hu Jintao during his visit to Washington in January. (Reuters)
The past 40 years have seen a growth in China-United States relations that no one would have imagined when the rapprochement between the two nations began. The ubiquity of "Made in China" products in the U.S. bespeaks deep economic ties; 120,000 Chinese students study in America; and an increasing number of Americans learn the Chinese language. America is likewise present in China: Every day, hundreds of thousands of Chinese travel on Boeing airplanes; young people wait in long queues to buy the latest iPhone; and Americans are the second-largest population in China.
However, despite such closeness in our relations, many American friends still do not know the true China. The visit to America my colleagues and I make this week for the latest Strategic and Economic Dialogue is to implement the agreement reached between our respective leaders during President Hu Jintao's visit in January, so as to advance the China-U.S. cooperative partnership based on mutual respect and mutual benefit. It is another opportunity for both Chinese and Americans to improve our understanding of, and relationship with, each other.
A central message we would like to convey to our American friends is that China is committed to the path of peaceful development. Over the past 60 years since the founding of the People's Republic, and especially the past 30 years of reform and opening up, China has undergone a sweeping and profound social transformation. The Chinese people, talented and hard-working, with their determination for self-improvement and a readiness to learn from others, have found a new development path to modernization in a globalized world. We call it "the path of peaceful development." It is a path to promote peace and common development of the world with our own development.
China's economy has maintained an annual average growth of over 9%, its GDP growing 16-fold to become the second-largest in the world. Yet it remains a developing country. GDP per head, a mere $4,000, is not even one-tenth that of the U.S. and ranks around 100th place in the world. We have to create 25 million new jobs every year. In terms of development, China is at least decades, if not centuries, behind the United States.
China has never thought of vying for leading position in the world. We have had more than enough of tough days. The only thing we want is that, with our hard work and wisdom, plus the cooperation and exchanges with other countries, we can lift the Chinese people out of poverty.
That development will benefit not only China, but also the rest of the worldand especially America. For nine consecutive years, China has been the fastest-growing export market for the U.S. American exports to China grew by 32% last year and 33.3% in the first three months of this year. For 40 of the 50 American states, China ranks among their top five export markets.
A recent report by the American Chamber of Commerce in China reveals that 85% of the American companies in China reported good profits in 2010, 78% of them saw their profits grow by a big margin, and 83% of them intended to increase investment in China. For several years in a row, it has been the only growing market among America's top 10 auto export markets.
Large imports of inexpensive yet quality products from China have enabled the U.S. to keep inflation at bay and saved American consumers more than $600 billion in the last 10 years. In the same period, more than 3.25 million jobs have been created in the U.S. thanks to exports to China.
The growing inward investment by Chinese companies has also created a large number of jobs in the U.S. For instance, the Chicago-based Wanxiang America Corporation has created over 5,600 jobs. China has in recent years been the fastest-growing source of inbound tourists for the United States. Last year, as many as 490,000 Chinese tourists visited. They brought considerable business opportunity for the U.S. service sector.
A stronger and more influential China has cooperated with the U.S. in international affairs and played a positive and constructive role. China and the U.S. have conducted effective communication and coordination on such hotspot issues as the Korean and Iranian nuclear issues as well as global counterterrorism, nonproliferation and climate change. In dealing with the international financial crisis, China has helped the U.S. to get through the difficult times. China is a partner the United States can count on.
Our challenge, both this week and at other such summits in the future, is to work together so that growing prosperity on each side of the Pacific Ocean becomes mutually reinforcing.
America has a role to play in the transformation of China's economic growth pattern, as put forward in the recently unveiled 12th Five-Year plan (2011-2015), toward greater domestic consumption. China's market is expected to become one of the world's largest in the not too distant future. If American enterprises seize this opportunity, "Made in USA" products will have more chances to their competitiveness in the vast Chinese market.
China will further open sectors where investment and trade already are open, and will open new sectors to foreign involvement. It will create an environment favorable to the long-term development of foreign investors. China will increase imports and pursue a basically balanced trade instead of a trade surplus.
Washington has a role to play in allowing American companies to capitalize on these new opportunities. Relaxing controls on the export of high-tech products to China will improve the China-U.S. trade pattern, which will in turn boost President Obama's strategy to double American exports.
China will encourage its capable enterprises to move into overseas markets. As long as the U.S. adopts a more inclusive and open policy, many Chinese enterprises, including private ones, would increase investment in America, which will create more jobs locally and help the U.S. alleviate its debt and fiscal pressures by boosting growth.
China will make great efforts to build a resource-efficient and environment-friendly society, develop circular economy and promote low-carbon technologies. New energy, new materials, energy-efficient and environment-friendly technologies and products are precisely where U.S. strengths and its future priorities lie. Cooperation in green endeavors will make a major contribution to mitigating global climate change.
China and America have the capability and wisdom to build trust, address problems, expand common interests and achieve mutual benefit through dialogue, exchanges and greater cooperation.
Ours should be a relationship of equality and mutual trust in which we both take a rational and objective view of each other's strategic intentions. It should be a relationship of cooperation and mutual benefit. We should each respect the other's choice of social system and development path as well as the sovereignty, territorial integrity and development interest of the other side and appropriately manage our differences and problems.
As one of the most important bilateral relationships in the world today, the China-U.S. relationship affects not only the well-being of our people, but the future of our world. We have a responsibility to get along with each other. This way, the China-U.S. cooperative partnership will take deep roots, bear rich fruits and benefit our two peoples and the entire world.
Mr. Dai is a state councilor of the People's Republic of China."
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Latest new-energy breakthroughs to demo on 'Roof of World' - People's Daily Online May 11, 2011
Yangpachen Geothermal Power Plant has been put into operation. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Photo shows the UHV DC voltage generator in the Tibet Experimental Base of the State Grid Corporation of China. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Photo shows The Tibet Experimental Base of the State Grid Corporation of China, 4,300 meters above the sea level. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Yangpachen Geothermal Power Plant has been put into operation. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Photo shows the UHV DC voltage generator in the Tibet Experimental Base of the State Grid Corporation of China. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Photo shows The Tibet Experimental Base of the State Grid Corporation of China, 4,300 meters above the sea level. Located 4,300 meters above sea level in the Nyenchen Tanglha Mountains, Yangpachen Town in Lhasa City, Tibet is rich in various clean energy sources, including solar energy, wind energy, biological energy and geothermal terrestrial heat. After six decades of attempts in the field of clean energy, the biggest solar power station in Tibet and a new-type power generation project have been put into construction. Now this small town has gradually become a demonstration area for new energy and a low-carbon life. (Xinhua Photo/ Chen Haining)
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Beijing-Shanghai high-speed train to open late June - People's Daily Online May 11, 2011
The longest high-speed railroad in the world, which will span the 1,318 kilometers between Beiijing and Shanghai, started a month-long trial run on May 11. It is scheduled to open for business at the end of June. (Xinhua Photo)
The longest high-speed railroad in the world, which will span the 1,318 kilometers between Beiijing and Shanghai, started a month-long trial run on May 11. It is scheduled to open for business at the end of June. (Xinhua Photo)
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Freight rail across Eurasia cuts travel time for trading goods between China, Europe - People's Daily Online May 11, 2011
A new freight rail has started operating across Eurasia, linking the southwest Chinese economic hub of Chongqing with the Port of Antwerp in Belgium and cutting the travel time for goods traded between China and Europe in half, officials said Tuesday.
The 11,179 kilometers of rail, running through Kazakhstan, Russia, Belarus, Poland, and Germany, was first used on March 19. Transporting goods from Chongqing to Antwerp on this route takes about 16 days, or half the time required for the goods to be transported by sea, Chongqing Mayor Huang Qifan told reporters.
Huang said the freight rail is also safer and less expensive than sea transport, which has been the dominating method for processing trade between China and European countries.
The rail supplements the 10,800-kilometer-long Eurasian Land Bridge to the north and will be mainly used to link south China's Pearl Delta manufacturing hub and the country's southwest industrial belt with Europe, officials said.
Source: Xinhua
A new freight rail has started operating across Eurasia, linking the southwest Chinese economic hub of Chongqing with the Port of Antwerp in Belgium and cutting the travel time for goods traded between China and Europe in half, officials said Tuesday.
The 11,179 kilometers of rail, running through Kazakhstan, Russia, Belarus, Poland, and Germany, was first used on March 19. Transporting goods from Chongqing to Antwerp on this route takes about 16 days, or half the time required for the goods to be transported by sea, Chongqing Mayor Huang Qifan told reporters.
Huang said the freight rail is also safer and less expensive than sea transport, which has been the dominating method for processing trade between China and European countries.
The rail supplements the 10,800-kilometer-long Eurasian Land Bridge to the north and will be mainly used to link south China's Pearl Delta manufacturing hub and the country's southwest industrial belt with Europe, officials said.
Source: Xinhua
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
World's longest cross-sea bridge to open to traffic in June - People's Daily Online May 10, 2011
Qingdao Bay Bridge in east China's Shandong Province, the world's longest cross-sea bridge, is expected to open to automobiles in June, sources with the bridge's construction headquarters said Monday.
The road over the bridge is scheduled to be completed in 10 days, according to an engineer with the headquarters.
The construction of the bridge has so far cost nearly 9 billion yuan (1.39 billion U.S. dollars), accounting for 94 percent of the budget, he said.
The bridge, linking the urban district of the port city Qingdao to its Huangdao district, is 41.58 kilometers long.
The bridge will shorten the route between the two centers by 30 kilometers, cutting travel time down to around 20 minutes.
China started research and planning work for the project eight years ago, with construction work beginning in 2007.
Currently, the longest cross-sea bridge in use in the world is the Lake Ponchartrain Causeway Bridge in New Orleans, the United States, which is around 38.4 km long. Prior to the Qingdao Bay Bridge, the longest sea bridge in China was the 36 km long Hangzhou Bay Cross-sea Bridge that connects the cities of Jiaxing and Ningbo in Zhejiang Province.
Source:Xinhua
Qingdao Bay Bridge in east China's Shandong Province, the world's longest cross-sea bridge, is expected to open to automobiles in June, sources with the bridge's construction headquarters said Monday.
The road over the bridge is scheduled to be completed in 10 days, according to an engineer with the headquarters.
The construction of the bridge has so far cost nearly 9 billion yuan (1.39 billion U.S. dollars), accounting for 94 percent of the budget, he said.
The bridge, linking the urban district of the port city Qingdao to its Huangdao district, is 41.58 kilometers long.
The bridge will shorten the route between the two centers by 30 kilometers, cutting travel time down to around 20 minutes.
China started research and planning work for the project eight years ago, with construction work beginning in 2007.
Currently, the longest cross-sea bridge in use in the world is the Lake Ponchartrain Causeway Bridge in New Orleans, the United States, which is around 38.4 km long. Prior to the Qingdao Bay Bridge, the longest sea bridge in China was the 36 km long Hangzhou Bay Cross-sea Bridge that connects the cities of Jiaxing and Ningbo in Zhejiang Province.
Source:Xinhua
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Beijing-Shanghai high-speed rail runs trial operation - People's Daily Online May 12, 2011
China Railway High-speed (CRH) trains are seen stopping at Shanghai Hongqiao Railway Station in Shanghai, east China, May 11, 2011. China launched the test run for the high-speed railway between Shanghai and Beijing here on Wednesdy. (Xinhua/Chen Fei)
The Beijing-Shanghai high-speed rail line began a one-month trial operation on Wednesday, according to the Ministry of Railways.
The 1,318-kilometer-long high-speed rail line will cut travel time between China's two major metropolises to about five hours, the ministry said. The line is scheduled to go into commercial service at the end of June, according to the ministry.
Fault simulations and emergency drills will be carried out during the one-month trial, the ministry said.
Some sections of the rail line have already started trials. One section between the city of Zaozhuang in Shandong Province and the city of Bengbu in Anhui Province began trails on Nov. 15, 2010, according to the ministry.
Trains on the line will run at two speeds, 300 kilometers per hour and 250 kilometers per hour, with different ticket prices depending on the speed of the train. A precise ticket price scale has yet to be approved by the National Development and Reform Commission, the country's top economic planning body.
The line will use 90 pairs of bullet trains after it goes into service, with the ministry vowing to optimize the use of its trains to provide the best service possible for prospective travellers.
China plans to invest 2.8 trillion yuan (431.7 billion U.S. dollars) to build about 30,000 kilometers of new rail lines over the next five years.The total length of China's railways is set to exceed 120,000 kilometers by the end of 2015, railway minister Sheng Guangzu said last month.
A China Railway High-speed (CRH) train is seen runing on the high-speed railway between Shanghai and Beijing during its debut test in Shanghai, east China, May 11, 2011. (Xinhua/Chen Fei)
China Railway High-speed (CRH) trains are seen stopping at Shanghai Hongqiao Railway Station in Shanghai, east China, May 11, 2011. China launched the test run for the high-speed railway between Shanghai and Beijing here on Wednesdy. (Xinhua/Chen Fei)
The Beijing-Shanghai high-speed rail line began a one-month trial operation on Wednesday, according to the Ministry of Railways.
The 1,318-kilometer-long high-speed rail line will cut travel time between China's two major metropolises to about five hours, the ministry said. The line is scheduled to go into commercial service at the end of June, according to the ministry.
Fault simulations and emergency drills will be carried out during the one-month trial, the ministry said.
Some sections of the rail line have already started trials. One section between the city of Zaozhuang in Shandong Province and the city of Bengbu in Anhui Province began trails on Nov. 15, 2010, according to the ministry.
Trains on the line will run at two speeds, 300 kilometers per hour and 250 kilometers per hour, with different ticket prices depending on the speed of the train. A precise ticket price scale has yet to be approved by the National Development and Reform Commission, the country's top economic planning body.
The line will use 90 pairs of bullet trains after it goes into service, with the ministry vowing to optimize the use of its trains to provide the best service possible for prospective travellers.
China plans to invest 2.8 trillion yuan (431.7 billion U.S. dollars) to build about 30,000 kilometers of new rail lines over the next five years.The total length of China's railways is set to exceed 120,000 kilometers by the end of 2015, railway minister Sheng Guangzu said last month.
A China Railway High-speed (CRH) train is seen runing on the high-speed railway between Shanghai and Beijing during its debut test in Shanghai, east China, May 11, 2011. (Xinhua/Chen Fei)
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Expert: Power goal is attainable - People's Daily Online May 13, 2011
China is likely to achieve its target of 70 gigawatts (gW) in nuclear capacity by 2020 despite its freeze on approving new nuclear projects since Japan's nuclear crisis, Xu Yuming, vice-secretary general of the China Nuclear Energy Association (CNEA), said on Thursday.
"China will reach at least 70 gW in nuclear capacity by 2020," Xu said. "Eighty gW is also possible."
The country could attain 50 gW of nuclear capacity by 2015, with projects totaling 40 gW of capacity under construction now, Xu said.
As of the end of 2010, China had 10.8 gW of nuclear capacity, according to the National Energy Administration (NEA).
Japan's nuclear crisis has no impact on the long-term development of China's nuclear sector, Xu said, though the enthusiasm for building nuclear reactors has diminished.
The sector has been growing at the rate of six to eight new reactors a year.
However, new projects in their preliminary stages or waiting for approval will remain on hold for some time owing to the suspension of new approvals of projects on March 16 because of the Japanese crisis. In addition, the country has initiated a program of safety inspections.
Nevertheless, preliminary work on China's first inland nuclear project, the Taohuajiang Nuclear Power Plant, is still in progress, according to the Hunan-based nuclear expert, Zou Shuliang, of the China Atomic Energy Authority (CAEA).
That project and two other inland nuclear power plants, in Hubei and Jiangxi provinces, were expected to receive approval and start construction in 2011.
Review groups, consisting of 60 to 70 experts each, have concluded the safety inspections on the nuclear power plants at Daya Bay in Guangdong province, Qinshan in Zhejiang and Tianwan in Jiangsu. The reports will be issued by the end of May.
The government will then begin conducting safety reviews of the projects already under construction.
China will adopt third-generation AP 1000 technology in all new projects starting around 2015, when it is expected to complete assimilating and localizing the technology designed by US-based Westinghouse Electric Co LLC, said Xu.
Another 10 reactors, including six inland units, will adopt the third-generation technology earlier, according to the original plan, in 2011, said Zhu Shutang, director of the large advanced PWR project office of the State Nuclear Power Technology Corp (SNPTC).
The SNPTC, which introduced the technology in China, already started preliminary work on third-generation technology for the inland nuclear power plants in Hubei, Hunan and Jiangxi provinces.
Shortages of personnel and uranium supply remain issues that must be resolved as the nation heads toward becoming the largest developer of nuclear power plants.
"We have only six to seven schools training professionals for the nuclear industry," said Zou of the CAEA.
"We will be understaffed if China achieves the target of 70 gW by 2020."
Meanwhile, a professional emergency rescue team and system should be set up soon, Zou added.
China's annual consumption of uranium will rise sharply, reaching 20,000 tons by 2020, the World Nuclear Association said. China imported 17,136 tons of uranium last year, three times the amount of the previous year.
Despite questions about securing an adequate uranium supply for the expansion plans, Xu, of the CNEA, said China will without doubt have enough for 80 gW of nuclear capacity.
Source: China Daily
China is likely to achieve its target of 70 gigawatts (gW) in nuclear capacity by 2020 despite its freeze on approving new nuclear projects since Japan's nuclear crisis, Xu Yuming, vice-secretary general of the China Nuclear Energy Association (CNEA), said on Thursday.
"China will reach at least 70 gW in nuclear capacity by 2020," Xu said. "Eighty gW is also possible."
The country could attain 50 gW of nuclear capacity by 2015, with projects totaling 40 gW of capacity under construction now, Xu said.
As of the end of 2010, China had 10.8 gW of nuclear capacity, according to the National Energy Administration (NEA).
Japan's nuclear crisis has no impact on the long-term development of China's nuclear sector, Xu said, though the enthusiasm for building nuclear reactors has diminished.
The sector has been growing at the rate of six to eight new reactors a year.
However, new projects in their preliminary stages or waiting for approval will remain on hold for some time owing to the suspension of new approvals of projects on March 16 because of the Japanese crisis. In addition, the country has initiated a program of safety inspections.
Nevertheless, preliminary work on China's first inland nuclear project, the Taohuajiang Nuclear Power Plant, is still in progress, according to the Hunan-based nuclear expert, Zou Shuliang, of the China Atomic Energy Authority (CAEA).
That project and two other inland nuclear power plants, in Hubei and Jiangxi provinces, were expected to receive approval and start construction in 2011.
Review groups, consisting of 60 to 70 experts each, have concluded the safety inspections on the nuclear power plants at Daya Bay in Guangdong province, Qinshan in Zhejiang and Tianwan in Jiangsu. The reports will be issued by the end of May.
The government will then begin conducting safety reviews of the projects already under construction.
China will adopt third-generation AP 1000 technology in all new projects starting around 2015, when it is expected to complete assimilating and localizing the technology designed by US-based Westinghouse Electric Co LLC, said Xu.
Another 10 reactors, including six inland units, will adopt the third-generation technology earlier, according to the original plan, in 2011, said Zhu Shutang, director of the large advanced PWR project office of the State Nuclear Power Technology Corp (SNPTC).
The SNPTC, which introduced the technology in China, already started preliminary work on third-generation technology for the inland nuclear power plants in Hubei, Hunan and Jiangxi provinces.
Shortages of personnel and uranium supply remain issues that must be resolved as the nation heads toward becoming the largest developer of nuclear power plants.
"We have only six to seven schools training professionals for the nuclear industry," said Zou of the CAEA.
"We will be understaffed if China achieves the target of 70 gW by 2020."
Meanwhile, a professional emergency rescue team and system should be set up soon, Zou added.
China's annual consumption of uranium will rise sharply, reaching 20,000 tons by 2020, the World Nuclear Association said. China imported 17,136 tons of uranium last year, three times the amount of the previous year.
Despite questions about securing an adequate uranium supply for the expansion plans, Xu, of the CNEA, said China will without doubt have enough for 80 gW of nuclear capacity.
Source: China Daily
China Blunts Germany's Edge
12/05/2011 00:03
(From THE WALL STREET JOURNAL)
By Mary M. Lane BERLIN -- Growing competition from China is spurring German machinery makers to reassess how to preserve an edge that has made their industry a linchpin of the country's export-driven economy.
Chinese rivals are gaining ground in their home market, unnerving German producers about the competitiveness of a sector that accounts for 7% of the German economy. The German companies find themselves up against a state-driven industry growing in large measure through acquisitions and inexpensive labor and building on lessons learned two decades ago in the textile industry.
"Germany needs to focus on quality and innovation because when it comes to mass-market machinery, China will soon have the upper hand," says Bernd Reitmeier, a former member of the German Chamber of Commerce in China.
Many industry experts say Germany's reputation for engineering quality and reliability should help the sector counter Chinese challenges for leadership in high-end machinery, such as drilling and factory equipment, and other engineering sectors. Still, the momentum behind China's companies underscores the long-term obstacles German companies face in maintaining an innovative edge as the supply of home-grown engineers and other skilled workers dwindles.
Rattling the Mittelstand
German companies -- mostly small, family-owned enterprises -- continue to hold the largest share in the Chinese market for high-end machinery, which is estimated at between 75 billion euros and 85 billion euros, or roughly $110 billion to $120 billion, says Axel Berke, a researcher with German consulting group Struktur Management Partner. He and Mr. Reitmeier co-wrote a recent Struktur report on the challenge in China for German sales of high-end machinery in such sectors as automotive, energy, construction and aviation.
Domestic revenue for Chinese producers of such machinery increased 76% from 2006 to 123.7 billion yuan ($19.1 billion) in 2009, the latest year for which figures are available, according to the Chinese government.
German exports to China of high-end machinery reached 15.13 billion euros ($21.79 billion) last year, up 34% from 2009, according to German government statistics. Though the Chinese and German figures aren't strictly comparable, it appears China's companies are catching up.
Analysts say the increased competition is unlikely to affect big German companies, such as Siemens AG, and will instead hit hardest at machinery makers in the mittelstand, the thousands of small and midsize businesses at the backbone of Germany's export economy.
Maintaining an edge will be crucial to the German industry as demand slows in core, mature markets -- such as the U.S. and France. Fast-growing China already is the largest buyer of German machinery, accounting for 11% of the sector's total.
German machinery makers operating in China surveyed by Struktur generally expect competition over the next five years to come from small companies that are largely unknown outside of China.
"As German companies, we need to maintain a very huge innovation speed to stay ahead of Chinese competition; otherwise we cannot sell our products," says Christian Blatt, general manager in China for Krones AG, which makes bottling and packaging equipment.
The growth of China's machinery industry recalls the country's approach in the 1990s to textiles, an area China now dominates. Both sectors have benefited from governmental financial support. President Hu Jintao in March announced a five-year plan to invest more than $500 billion in key industries, including machinery. Beijing two years ago unveiled an equipment-manufacturing revitalization plan meant to increase its market share world-wide and to decrease dependence on foreign-owned companies.
Chinese companies also pay lower salaries than their German counterparts, use less expensive parts and receive government subsidies or tax rebates. As a result, Chinese products often cost 10% to 20% less than German ones, analysts say.
Chinese programs "give away land for free, buildings for free. Many Chinese firms receive tax rebates," Mr. Reitmeier says. "That's support the German government cannot give" its own companies.
German engineering companies long have worried about Chinese rivals violating intellectual-property rights. Herrenknecht AG, which makes tunnel-boring equipment, has given up hope of enforcing its intellectual-property rights in China.
"As a medium-sized company? No chance," says Martin Herrenknecht, owner of the closely held concern.
He instead entered a joint venture with a Chinese company that is partially owned by the government, using German parts and low-cost Chinese labor. "For some companies it's better if ownership is partially Chinese," he says. "It's quite an advantage in entering the Chinese market."
Chinese companies also gain access to German expertise through acquisitions, mostly of low-profile companies. The value of Chinese acquisitions in Germany rose to $98 million last year from $3.6 million in 2006, according to merger research firm Dealogic. The total already is $83.4 million this year, with nearly all the deals involving engineering companies.
State-controlled Chinese companies such as the Shenyang Machine Tool Group Co. and Dalian Machine Tool Group Co. have been investing in and acquiring equipment makers from Germany and elsewhere. From 2003 to 2009, Chinese companies invested about 90 billion euros in hundreds of machinery-related acquisitions and investments, Struktur says.
"They're buying these companies . . . to learn fast how to build high-quality machines on their own," says the consulting firm's Mr. Berke. Shenyang and Dalian declined to comment.
(END) Dow Jones Newswires
WSJ(5/12) China Blunts Germany's Edge
-------------
This seems an eye-catching sign that China's manufacturers are catching up to high-ends.
12/05/2011 00:03
(From THE WALL STREET JOURNAL)
By Mary M. Lane BERLIN -- Growing competition from China is spurring German machinery makers to reassess how to preserve an edge that has made their industry a linchpin of the country's export-driven economy.
Chinese rivals are gaining ground in their home market, unnerving German producers about the competitiveness of a sector that accounts for 7% of the German economy. The German companies find themselves up against a state-driven industry growing in large measure through acquisitions and inexpensive labor and building on lessons learned two decades ago in the textile industry.
"Germany needs to focus on quality and innovation because when it comes to mass-market machinery, China will soon have the upper hand," says Bernd Reitmeier, a former member of the German Chamber of Commerce in China.
Many industry experts say Germany's reputation for engineering quality and reliability should help the sector counter Chinese challenges for leadership in high-end machinery, such as drilling and factory equipment, and other engineering sectors. Still, the momentum behind China's companies underscores the long-term obstacles German companies face in maintaining an innovative edge as the supply of home-grown engineers and other skilled workers dwindles.
Rattling the Mittelstand
German companies -- mostly small, family-owned enterprises -- continue to hold the largest share in the Chinese market for high-end machinery, which is estimated at between 75 billion euros and 85 billion euros, or roughly $110 billion to $120 billion, says Axel Berke, a researcher with German consulting group Struktur Management Partner. He and Mr. Reitmeier co-wrote a recent Struktur report on the challenge in China for German sales of high-end machinery in such sectors as automotive, energy, construction and aviation.
Domestic revenue for Chinese producers of such machinery increased 76% from 2006 to 123.7 billion yuan ($19.1 billion) in 2009, the latest year for which figures are available, according to the Chinese government.
German exports to China of high-end machinery reached 15.13 billion euros ($21.79 billion) last year, up 34% from 2009, according to German government statistics. Though the Chinese and German figures aren't strictly comparable, it appears China's companies are catching up.
Analysts say the increased competition is unlikely to affect big German companies, such as Siemens AG, and will instead hit hardest at machinery makers in the mittelstand, the thousands of small and midsize businesses at the backbone of Germany's export economy.
Maintaining an edge will be crucial to the German industry as demand slows in core, mature markets -- such as the U.S. and France. Fast-growing China already is the largest buyer of German machinery, accounting for 11% of the sector's total.
German machinery makers operating in China surveyed by Struktur generally expect competition over the next five years to come from small companies that are largely unknown outside of China.
"As German companies, we need to maintain a very huge innovation speed to stay ahead of Chinese competition; otherwise we cannot sell our products," says Christian Blatt, general manager in China for Krones AG, which makes bottling and packaging equipment.
The growth of China's machinery industry recalls the country's approach in the 1990s to textiles, an area China now dominates. Both sectors have benefited from governmental financial support. President Hu Jintao in March announced a five-year plan to invest more than $500 billion in key industries, including machinery. Beijing two years ago unveiled an equipment-manufacturing revitalization plan meant to increase its market share world-wide and to decrease dependence on foreign-owned companies.
Chinese companies also pay lower salaries than their German counterparts, use less expensive parts and receive government subsidies or tax rebates. As a result, Chinese products often cost 10% to 20% less than German ones, analysts say.
Chinese programs "give away land for free, buildings for free. Many Chinese firms receive tax rebates," Mr. Reitmeier says. "That's support the German government cannot give" its own companies.
German engineering companies long have worried about Chinese rivals violating intellectual-property rights. Herrenknecht AG, which makes tunnel-boring equipment, has given up hope of enforcing its intellectual-property rights in China.
"As a medium-sized company? No chance," says Martin Herrenknecht, owner of the closely held concern.
He instead entered a joint venture with a Chinese company that is partially owned by the government, using German parts and low-cost Chinese labor. "For some companies it's better if ownership is partially Chinese," he says. "It's quite an advantage in entering the Chinese market."
Chinese companies also gain access to German expertise through acquisitions, mostly of low-profile companies. The value of Chinese acquisitions in Germany rose to $98 million last year from $3.6 million in 2006, according to merger research firm Dealogic. The total already is $83.4 million this year, with nearly all the deals involving engineering companies.
State-controlled Chinese companies such as the Shenyang Machine Tool Group Co. and Dalian Machine Tool Group Co. have been investing in and acquiring equipment makers from Germany and elsewhere. From 2003 to 2009, Chinese companies invested about 90 billion euros in hundreds of machinery-related acquisitions and investments, Struktur says.
"They're buying these companies . . . to learn fast how to build high-quality machines on their own," says the consulting firm's Mr. Berke. Shenyang and Dalian declined to comment.
(END) Dow Jones Newswires
WSJ(5/12) China Blunts Germany's Edge
-------------
This seems an eye-catching sign that China's manufacturers are catching up to high-ends.
Amazing!
I think any China friendly neighboring countries on the south can benefit from this railway link, too. Those who are hostile will be left out of the opportunity.
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Shanghai 2010 Service Trade Value Topped USD100bn - Investors.com 05/12/2011
SHANGHAI, May 12, 2011 (SinoCast Daily Business Beat via COMTEX) -- Shanghai service trade import and export value was USD 104.67 billion in 2010, gaining by 40.1 percent over a year earlier, in terms of the latest data China's Ministry of Commerce released.
The city's service trade exports and imports came to USD 40.64 billion and USD 64.03 billion last year, rising by 35.8 percent and 42.9 percent year on year respectively. The two figures were in the top places nationwide.
The trade value mirrors that Shanghai fulfilled the goal that it would record more than USD 100 billion service trade import and export value by 2010.
The service trade value accounted for 22.1 percent of Shanghai total international trade value last year and made up 41.2 percent of local GDP.
The Shanghai service trade value increased faster compared with nationwide average growth of 26.4 percent and that took 28.9 percent of nationwide total.
During the May Day holiday this year two airports in Shanghai served 200,000 inbound and outbound passengers. Meanwhile, the Shanghai port was in the peak time for passenger transport, which soared by 33 times compared with the same period of last year.
Source: ::::?:::: (May 12, 2011)
SHANGHAI, May 12, 2011 (SinoCast Daily Business Beat via COMTEX) -- Shanghai service trade import and export value was USD 104.67 billion in 2010, gaining by 40.1 percent over a year earlier, in terms of the latest data China's Ministry of Commerce released.
The city's service trade exports and imports came to USD 40.64 billion and USD 64.03 billion last year, rising by 35.8 percent and 42.9 percent year on year respectively. The two figures were in the top places nationwide.
The trade value mirrors that Shanghai fulfilled the goal that it would record more than USD 100 billion service trade import and export value by 2010.
The service trade value accounted for 22.1 percent of Shanghai total international trade value last year and made up 41.2 percent of local GDP.
The Shanghai service trade value increased faster compared with nationwide average growth of 26.4 percent and that took 28.9 percent of nationwide total.
During the May Day holiday this year two airports in Shanghai served 200,000 inbound and outbound passengers. Meanwhile, the Shanghai port was in the peak time for passenger transport, which soared by 33 times compared with the same period of last year.
Source: ::::?:::: (May 12, 2011)
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Chinese firm wins bid on Cameroon hydropower project - People's Daily Online May 14, 2011
China Three Gorges Corp. (CTGPC) in central China's Hubei Province announced Friday that one of its subsidiaries had won a contract to build a hydropower project in Cameroon.
China International Water and Electric Corp. will build the Lom Pangar Hydropower Project for the central African nation's Electricity Development Corp., CTGPC said in a statement.
The project includes the construction of a dam across the Sanaga River and its two side-dams, a 30-megawatt power station and a 90-kilovolt high-voltage wire, according to the statement.
The contract totals 198 million U.S. dollars, CTGPC said.
The project will be jointly funded by World Bank's International Development Association (IDA), the French Development Agency (AFD) and the European Investment Bank (BEI).
CTGPC said the hydropower project will be constructed within a period of 38 months, and the two sides have yet to decide when to start the project.
Upon completion, the dam will harness the flow of the Sanaga River and form a reservoir of 6 billion cubic meters, according to the statement.
The project will also bring about 1,500 jobs to the central African country, the statement said.
Cameroon plans to spend 12 billion U.S. dollars to increase the country's electricity output from 1,000 megawatts to 3,000 megawatts by 2020.
China Three Gorges Corp. (CTGPC) in central China's Hubei Province announced Friday that one of its subsidiaries had won a contract to build a hydropower project in Cameroon.
China International Water and Electric Corp. will build the Lom Pangar Hydropower Project for the central African nation's Electricity Development Corp., CTGPC said in a statement.
The project includes the construction of a dam across the Sanaga River and its two side-dams, a 30-megawatt power station and a 90-kilovolt high-voltage wire, according to the statement.
The contract totals 198 million U.S. dollars, CTGPC said.
The project will be jointly funded by World Bank's International Development Association (IDA), the French Development Agency (AFD) and the European Investment Bank (BEI).
CTGPC said the hydropower project will be constructed within a period of 38 months, and the two sides have yet to decide when to start the project.
Upon completion, the dam will harness the flow of the Sanaga River and form a reservoir of 6 billion cubic meters, according to the statement.
The project will also bring about 1,500 jobs to the central African country, the statement said.
Cameroon plans to spend 12 billion U.S. dollars to increase the country's electricity output from 1,000 megawatts to 3,000 megawatts by 2020.
Brotherhood
SENIOR MEMBER
- Joined
- May 31, 2010
- Messages
- 2,439
- Reaction score
- 0
Foreign direct investment rises 26% in China in first 4 months - People's Daily Online May 17, 2011
Foreign direct investment (FDI) in China grew 26.03 percent year-on-year to reach 38.8 billion U.S. dollars during the first four months of this year, the Ministry of Commerce (MOC) said on Tuesday.
In April, the FDI climbed 15.21 percent to 8.46 billion U.S. dollars, down from March's growth of 32.9 percent, MOC spokesman Yao Jian said during a regular briefing.
While March saw 2,538 new foreign-invested companies being approved to operate in China, 2,215 foreign-invested companies were approved last month, up 8.21 percent from the same period in 2010.
China has approved 8,152 new foreign-invested companies over the past four months, a rise of 8.61 percent year-on-year.
Yao said FDI from Asia and Europe kept growing during the January-April period. Capital inflows from ten Asian nations and regions, including Japan, Thailand, Singapore, rose 31.23 percent to reach 32.88 billion U.S. dollars, while FDI from Europe gained 23.42 percent to 2.64 billion U.S. dollars during the same period.
In contrast, the United States slowed its direct investment pace in the world's second-largest economy. FDI from U.S. fell 28 percent year on year to 1.03 billion U.S. dollars during the Jan-April period.
Furthermore, the growth rate in FDI in China's economically-developed east regions was slower than those in the country's central and western areas. East China attracted 33.18 billion U.S. dollars of FDI during the Jan-April period, up 23.36 percent year on year, compared with the 34.03-percent increase in the central regions and 55.84-percent rise in the western areas, Yao said.
OUTBOUND DIRECT INVESTMENT RISES
China's outbound direct investments hit 13.4 billion U.S. dollars during the first four months of 2011, up 17.5 percent year-on-year, according to Yao. This brought China's cumulative outbound non-financial direct investments to 272.2 billion U.S. dollars as of the end of April, Yao said.
About 4.2 billion U.S. dollars, or 31.3 percent of China's total outbound direct investments, were channeled into company mergers over the past four months, he said.
The country's overseas contracted projects brought in 24.88 billion U.S. dollars in revenues during the same period, up 7.8 percent year-on-year, according to Yao. The value of new contracts stood at 43.66 billion U.S. dollars, up 19.2 percent from one year earlier, Yao said.
About 775,000 Chinese laborers were stationed overseas by the end of April this year, nearly 22,000 less than in the same period last year, according to Yao. This is partly due to recent unrest in the Middle East and North Africa, which resulted in the evacuation of thousands of Chinese nationals.
JAPAN EARTHQUAKE REDUCES EXPORTS
Japan's exports to China rose 4.7 percent year-on-year to 15.99 billion U.S. dollars in April, down from a 26.4-percent surge in the first quarter, as the effects of the Japanese earthquake on bilateral trade became more apparent.
On April 8, China banned imports of agricultural products and food from 12 regions located close to the site of Japan's Fukushima nuclear power plant, which was critically damaged during the recent earthquake and tsunami.
"It's an emergency measure for the world to ban food imports from Japan. China and Japan will discuss how to promote bilateral trade during Commerce Minister Chen Deming's visit to Japan this week," Yao said.
The European Union overtook Japan to become the biggest source of imports into China during the January-April period.
"The ministry has noticed the change. China will strengthen its economic and financial ties with Japan and participate in Japan's reconstruction," Yao said.
He added that Premier Wen Jiabao is due to attend the fourth trilateral summit of China, Japan and the Republic of Korea in Japan, which will be held from May 21 to 22.
Yao also said that China's trade surplus has fallen over the past three years as the country has increased its imports. The trade surplus accounted for 3.1 percent of China's gross domestic product last year, according to Yao.
Foreign direct investment (FDI) in China grew 26.03 percent year-on-year to reach 38.8 billion U.S. dollars during the first four months of this year, the Ministry of Commerce (MOC) said on Tuesday.
In April, the FDI climbed 15.21 percent to 8.46 billion U.S. dollars, down from March's growth of 32.9 percent, MOC spokesman Yao Jian said during a regular briefing.
While March saw 2,538 new foreign-invested companies being approved to operate in China, 2,215 foreign-invested companies were approved last month, up 8.21 percent from the same period in 2010.
China has approved 8,152 new foreign-invested companies over the past four months, a rise of 8.61 percent year-on-year.
Yao said FDI from Asia and Europe kept growing during the January-April period. Capital inflows from ten Asian nations and regions, including Japan, Thailand, Singapore, rose 31.23 percent to reach 32.88 billion U.S. dollars, while FDI from Europe gained 23.42 percent to 2.64 billion U.S. dollars during the same period.
In contrast, the United States slowed its direct investment pace in the world's second-largest economy. FDI from U.S. fell 28 percent year on year to 1.03 billion U.S. dollars during the Jan-April period.
Furthermore, the growth rate in FDI in China's economically-developed east regions was slower than those in the country's central and western areas. East China attracted 33.18 billion U.S. dollars of FDI during the Jan-April period, up 23.36 percent year on year, compared with the 34.03-percent increase in the central regions and 55.84-percent rise in the western areas, Yao said.
OUTBOUND DIRECT INVESTMENT RISES
China's outbound direct investments hit 13.4 billion U.S. dollars during the first four months of 2011, up 17.5 percent year-on-year, according to Yao. This brought China's cumulative outbound non-financial direct investments to 272.2 billion U.S. dollars as of the end of April, Yao said.
About 4.2 billion U.S. dollars, or 31.3 percent of China's total outbound direct investments, were channeled into company mergers over the past four months, he said.
The country's overseas contracted projects brought in 24.88 billion U.S. dollars in revenues during the same period, up 7.8 percent year-on-year, according to Yao. The value of new contracts stood at 43.66 billion U.S. dollars, up 19.2 percent from one year earlier, Yao said.
About 775,000 Chinese laborers were stationed overseas by the end of April this year, nearly 22,000 less than in the same period last year, according to Yao. This is partly due to recent unrest in the Middle East and North Africa, which resulted in the evacuation of thousands of Chinese nationals.
JAPAN EARTHQUAKE REDUCES EXPORTS
Japan's exports to China rose 4.7 percent year-on-year to 15.99 billion U.S. dollars in April, down from a 26.4-percent surge in the first quarter, as the effects of the Japanese earthquake on bilateral trade became more apparent.
On April 8, China banned imports of agricultural products and food from 12 regions located close to the site of Japan's Fukushima nuclear power plant, which was critically damaged during the recent earthquake and tsunami.
"It's an emergency measure for the world to ban food imports from Japan. China and Japan will discuss how to promote bilateral trade during Commerce Minister Chen Deming's visit to Japan this week," Yao said.
The European Union overtook Japan to become the biggest source of imports into China during the January-April period.
"The ministry has noticed the change. China will strengthen its economic and financial ties with Japan and participate in Japan's reconstruction," Yao said.
He added that Premier Wen Jiabao is due to attend the fourth trilateral summit of China, Japan and the Republic of Korea in Japan, which will be held from May 21 to 22.
Yao also said that China's trade surplus has fallen over the past three years as the country has increased its imports. The trade surplus accounted for 3.1 percent of China's gross domestic product last year, according to Yao.
Similar threads
Latest posts
-
Imran Khan vs Pakistan: Protest of Treachery - Casualty Report- Latest: Pakistan Space Agency
-
-
-
Pakistan Affairs Latest Posts
-
Imran Khan vs Pakistan: Protest of Treachery - Casualty Report
- Latest: Pakistan Space Agency
-
-
-
-
Bajwa calls Bushra's allegations against Saudi Arabia 'baseless'
- Latest: Novus ordu seclorum
