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AkzoNobel zet stap in China

Gepubliceerd op 13 dec 2018 om 09:21 | Views: 1.221

Akzo Nobel 16:20
70,78 -0,60 (-0,84%)

AMSTERDAM (AFN) - AkzoNobel heeft het minderheidsbelang van Swire Industrial Limited in de samenwerking AkzoNobel Swire Paints (ANSP) overgenomen. Daarmee heeft het verfbedrijf het volledige eigendom verkregen, zo werd donderdag bekendgemaakt. Financiële details werden niet verstrekt.

Akzo had sinds 1989 het meerderheidsbelang in het samenwerkingsverband voor decoratieve verven. Met de deal versterkt AkzoNobel naar eigen zeggen zijn leidende positie in de Chinese markt. ANSP produceert en distribueert de verven voornamelijk onder het merk Dulux. Er zijn productiefaciliteiten gevestigd in Guangzhou, Shanghai, Langfang en Chengdu.

Ook Swire geeft in een verklaring geen verkoopsom prijs. Wel voorziet de onderneming op de verkoop van het belang een boekwinst van 2,7 miljard Hongkong dollar. Dat is omgerekend bijna 304 miljoen euro.
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'Nissan haalt geld op bij Chinese dochter'

Gepubliceerd op 13 dec 2018 om 08:39 | Views: 1.357

TOKIO (AFN/BLOOMBERG) - Automaker Nissan is van plan omgerekend bijna 1 miljard euro terug te halen van zijn Chinese dochter. Dat meldden ingewijden rond de kwestie. Het is het Japanse bedrijf er alles aan gelegen om zijn financiële slagkracht te vergroten, nu er scheurtjes aan het ontstaan zijn in de samenwerking met zijn Franse partner Renault. Het geld moet naar verluidt eind januari zijn overgemaakt.

Nissan heeft in China een samenwerking met Dongfeng Motor. Normaal gesproken herinvesteert Nissan de winsten die het haalt, mogelijk ook om aan belastingheffingen te ontkomen. Door het geld nu naar Japan te sturen zou Nissan wat meer financiële lucht krijgen, mocht de alliantie tussen Nissan, Renault en Mitsubishi klappen.

De kwestie rond de inmiddels gewipte Nissanvoorzitter Carlos Ghosn, die op papier nog wel de baas is van Renault, ligt aan de basis van de problemen. Ghosn werd vorige maand opgepakt op verdenking van fraude. Er doen geluiden de ronde dat Nissan de kwestie Ghosn gebruikt om te tornen aan de machtsverhouding binnen de alliantie. Renault is daarin nu de machtigste van de drie.
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BMW Brilliance to produce BMW X2 in China

Gasgoo reported that BMW Brilliance is ready to produce the BMW X2 (code-named F39), which will be the third BMW branded China-made SUV model following the all-new BMW X3, according to local media. The joint venture plans to adjust its product lineup based on the existing capacity of its plant located at Tiexi District, Shenyang, capital of Liaoning Province with an investment of RMB 2,301,225,000 to be involved, according to an announcement released on the website of the Shenyang Association of Environmental Protection Industry. A yearly capacity of 235,000 vehicles will be redesigned for the local production of the BMW X2 and the all-new BMW 3 Series (code-named G2x), while the current total annual capacity of 400,000 vehicles will still remain unchanged.

Riding on BMW's UKL platform, the X2 is still marked by a large version of BMW's iconic dual-kidney grille, paired with slim headlights on both sides of the front face. The BMW logo sitting on the C-pillar presents a tribute to the legendary BMW 3.0 CSL Coupe.

The BMW X2 delivered outside China measures 4,379mm long, 1,824mm wide and 1,560mm tall with a wheelbase length of 2,670mm. It is speculated that the China-made X2 will not carry a longer wheelbase than the existing model because they share the same code name.

The outgoing BMW X2 offers a two-wheel drive and a four-wheel drive system for consumers’ free choice. Similar to the BMW X1, the X2 is powered by a 1.5-litre or a 2.0-litre turbocharged engine, mated with a 7-speed dual clutch transmission or an 8-speed automatic transmission.

Source : Gasgoo
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US tariffs fail to dent Chinese aluminium export surge

Reuters reported that US International Trade Commission has just slapped anti dumping duties on imports of Chinese common aluminium alloy sheet. According to the US Aluminum Association, US imports of Chinese alloy sheet surged by 731 percent between 2007 and 2017, with Chinese product accounting for nearly 40 percent of total imports last year. China’s exports of aluminium in all forms grew by 21 percent to 5.3 million tonnes in the first 11 months of this year.

It’s another brick in the trade wall being erected by the Trump administration as it seeks to insulate domestic manufacturers from the flood of what it deems unfairly subsidised Chinese products. The latest action builds on similar penal duties imposed on imports of Chinese foil and the broader “Section 232” tariffs on all imports of aluminium and steel. However, China’s exports of aluminium products are still accelerating, with outbound flows on track to set a new record this year.

Source : Reuters
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Volkswagen to build 1 million NEVs yearly in China

Gasgoo reported that on December 11, Volkswagen showed its three new PHEV members, the Touareg PHEV, the Magotan GTE Concept and the Tayron GTE Concept. In 2018, VW brand introduced no less than nine new models and launched the “Move Forward” initiative. In the coming 12 months, the brand’s NEV models will be doubled to six. At the PHEV workshop, it is revealed that Volkswagen is ambitious to build 1 million new energy vehicles (NEVs) per year in China by 2025. Consumers will have wide choice of BEV versions and all new models are expected to be fully connected from 2019 on.

The Germany brand divides its NEV initiative in China into three phases, which starts with locally-produced or imported PHEV or GTE models. By 2020, VW’s NEV full range in China will boast at least 10 NEVs and the local NEV production will be up to 300,000. At the third phase, the automaker points out that all BEVs will be built on its innovative vehicle architecture, the MEB platform in 2020/2021 and features new design as well as enhanced user experience.

In order to realize its ambitious sales target, VW needs to build a strong and flexible NEV production network. The company’s next step is to build up a global NEV production network. In the future, the automaker will have seven NEV production sites in China, one in the USA, and ten in Europe.

Source : Gasgoo
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Massive arched bridge to link China-Myanmar

Asia Times reported that a gigantic steel arch has been put into place over the Nujiang River in southwestern China’s Yunnan province, and before the end of 2019 bullet trains will cross the world’s longest arched railway bridge at speeds of 200 kph. The bridge, being built by state-owned China Railway Construction Corp, consists of a span of 490 meters that breaks all world records for a crossing of its type. The key project straddles a steep gorge that has long stood in the way of traffic between Yunnan and neighboring Guizhou province.

A project manager told Xinhua “The bridge is a genuine engineering feat as it is situated on the rugged Yunnan-Guizhou Plateau in a seismically insatiable region.”

To complete the bridge, constructors had to assemble up to 800,000 bolts as well as 922 steel poles weighing 100 tonnes each, at a height of 230 meters above the raging Nujiang River.

Source : Asia Times
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The Great Wall of China construction project that spanned generations, centuries and dynasties - Report

Ancient Origins reported that the Great Wall of China (known also as the ‘Wanli Changcheng’ or ‘10000 Li Wall’) is one of China’s most iconic structures. This is the longest wall in the world, and one of the largest construction projects ever undertaken. Contrary to popular belief, the Great Wall of China is not a single, continuous wall, but a series of fortifications that were built over the millennia. Moreover, the section of the wall most visited and photographed, i.e. the one near Beijing, is not representative of the whole structure, as variations exist according to the area in which they were built.

During the Zhou Dynasty the Wall was Built for Protection from Neighboring States
During the Eastern Zhou Dynasty (lasting from the 8 th to 3 rd centuries BC), China was divided amongst several powerful states. As these states were constantly at war with each other, walls were built to protect their borders. The fortifications constructed by the states of Yan, Zhao and Qin, the three northernmost states, would form the nucleus of the Great Wall of China.

Qin Dynasty – The Great Wall was Connected and Extended
In 221 BC, the unification of China was completed by Qin Shi Huang, the founder of the Qin Dynasty. Apart from internal enemies, the First Emperor also recognized external threats to his rule. Qin Shi Huang was aware that the Xiongnu on the empire’s northern border could invade at any time. Therefore, the emperor ordered the walls of the former Yan, Zhao, and Qin states to be connected and extended. Construction of Qin Shi Huang’s Great Wall began in 214 BC, and lasted about a decade, during which hundreds of thousands of soldiers and conscripted workers labored on the project. After the fall of the Qin Dynasty, Qin Shi Huang’s Great Wall was largely abandoned and fell into disrepair.

The Han Dynasty Restored and Reinforced the Great Wall and Encouraged Trade
In the succeeding Han Dynasty, it was during the reign of Han Wudi that the Great Wall was restored and reinforced. This was carried out in order to defend China from the incursions of the Xiongnu. The Great Wall during this period was also connected to the famous Silk Route. The Great Wall was extended by Han Wudi westwards, thus providing protection for this ancient trade route. Additionally, the wall allowed the Han Dynasty to control the flow of trade between China and the West.

The fate of the Great Wall fluctuated between the fall of the Han Dynasty in AD 220 and the rise of the Ming Dynasty in 1368. Some dynasties, such as the Tang and Yuan, saw no need for the construction of massive defensive walls, and hence did not make important additions to the Great Wall. Others, such as the Sui and Liao Dynasties, saw a need for extra border defenses, thus prompting the building of new walls and fortifications. On the whole, however, much of the original walls built during the Qin and Han Dynasties were not maintained. Over time, these walls which were commonly built with rammed earth, were eroded by the elements, and few sections have survived till this day.

During the Ming Dynasty the Great Wall was Strengthened and Enlarged
During the Ming Dynasty , the most ambitious wall building project since the Han Dynasty was undertaken. The rulers of the Ming Dynasty continuously maintained, strengthened, and enlarged the existing walls. The Great Wall of China that the world is familiar with today dates to this period. The wall built to protect the capital, Beijing, is especially famous. Beginning at Juyong Pass (situated to the northwest of Beijing), the Ming wall splits into two circuits – an Outer northern wall and an Inner southern wall. A number of passes and gates are located along both walls. The Three Outer Passes are the Yanmen, Ningwu, and Piantou Passes, while the Three Inner Passes are the Juyong, Daoma, and Zijing Passes. These passes were crucial for the protection of the capital and were therefore heavily garrisoned.

Source : Ancient Origins
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Starbucks wil doorgroeien in China

Gepubliceerd op 13 dec 2018 om 21:59 | Views: 0

NEW YORK (AFN/BLOOMBERG) - Koffieketen Starbucks wil ,,agressief doorgroeien'' in China. Het Amerikaanse bedrijf wil over vier jaar 6000 cafés in het Aziatische land hebben, maakte het bedrijf bekend tijdens een investeerdersdag. Daarnaast werkt Starbucks samen met de Chinese onlinewinkelgigant Alibaba aan een online winkel. Ook zet de koffiereus verder in op bezorging. Dat is nu al bij 2000 cafés in China mogelijk.

Ook in thuismarkt de Verenigde Staten ziet Starbucks nog ,,zat ruimte'' om te groeien. Automatisering kan helpen om de omzet te laten groeien. Ook het digitale aanbod moet beter.

Net als in China is in de VS bezorging steeds belangrijker. Nu al wordt nog maar ongeveer de helft van de bestellingen aan de balie in de Amerikaanse cafés gedaan. Online bestellingen, bestellingen via de app en drive-thrus zijn goed voor de andere helft. Voor de Amerikaanse bezorging werkt Starbucks samen met Uber Eats.

Starbucks wil daarnaast de aandeelhouders belonen. Tot en met 2020 krijgen die 25 miljard dollar terug.
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Trump: China wil grote deal sluiten

(ABM FN-Dow Jones) China zou een grote en veel omvattende handelsdeal met de Verenigde Staten willen sluiten. Dit zei de Amerikaanse president Donald Trump op Twitter.

“Het kan gebeuren, en vrij snel!”, aldus de president.

De Chinese economie groeit in een lager tempo dan verwacht, zo toonden macro-economische cijfers ook vannacht weer aan, en dat komt volgens Trump door de handelsoorlog.

“Ze hebben zojuist de Amerikaanse importheffingen opgeschort”, voegde hij toe. “De VS doen het erg goed.”

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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China schrapt tijdelijk extra importheffingen op Amerikaanse auto's - media

(ABM FN-Dow Jones) Het Chinese ministerie van financiën zal de extra importheffing op Amerikaanse auto's en auto-onderdelen voor een periode van drie maanden schrappen. Dit meldde persbureau Reuters op basis van een mededeling op de website van het ministerie.

Het gaat in dit verband om een tarief van 25 procent op 144 type auto's en auto-onderdelen en en een tarief van 5 procent op 67 auto-onderdelen. Deze tarieven gelden niet in de periode van 1 januari tot en met 31 maart 2019.

Het ministerie zei vrijdag volgens Reuters te hopen dat China en de Verenigde Staten vaart achter hun onderhandeling over de handelsbetrekkingen zetten om zo alle extra heffingen op elkaars goederen de wereld uit te helpen.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Groei Chinese economie op koers

(ABM FN-Dow Jones) China ligt op koers om dit jaar zijn economische groeidoelstelling te halen, ondanks toenemende externe druk.

"Er is maar weinig twijfel dat de Chinese economie in staat is om met 6,5 procent te groeien dit jaar", zei een woordvoerder van het Chinese bureau voor de statistiek.

De groei wordt daarbij ondersteund door een "robuuste" binnenlandse vraag.

Eerder vanochtend kwamen er tegenvallende cijfers binnen. De Chinese industriële productie lag in november op 5,4 procent, een half procentpunt lager dan in oktober en eveneens een half procentpunt lager dan economen hadden verwacht.

Ook de groei van de Chinese detailhandelsverkopen daalde, van 8,6 procent in oktober naar 8,1 procent in november. Daarmee lag het groeitempo in november op het laagste niveau in 2018. Dit was volgens het statistiekbureau vooral het gevolg van lagere autoverkopen en dalende brandstofprijzen. Economen hadden voor november gerekend op een groei van 8,8 procent.

Voor volgend jaar is het statistiekbureau ervan overtuigd dat China opnieuw een "stabiele en gezonde" groei zal laten zien.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright 2018 Dow Jones & Company, Inc. All rights reserved.
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Productie Chinese industrie groeit minder hard

(ABM FN-Dow Jones) De Chinese industriële productie is in november minder hard gegroeid dan een maand eerder. Dit bleek vrijdag uit overheidscijfers.

De productie ging met 5,4 procent omhoog. Een maand eerder ging het nog om een groei van 5,9 procent. Economen rekenden voor november op een groei van 5,9 procent.

Op maandbasis werd in november een stijging van 0,36 procent gemeld. In oktober was dit 0,47 procent.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved
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CNOOC gas supply hits new record as northern China shivers

Reuters quoted CNOOC Gas & Power, a unit of China National Offshore Oil Corp, as saying that its daily supply of natural gas had surpassed 200 million cubic meters for the first time as temperatures in northern China plummet. CNOOC sent 205 million cubic meters of gas to the Chinese market on Dec. 10, 18.5 percent more than the daily high of 173 million cubic meters recorded in 2017.

The statement said that CNOOC plans to supply 48 billion cubic meters (bcm) of gas this year, including 46.5 bcm of base supply and 1.5 bcm of incremental supply. State-run news agency Xinhua reported last month that CNOOC would raise gas supply by 20 percent during the winter heating season.

CNOOC Gas & Power said that temperatures in northern China have dropped since Dec. 4 and various regions have seen an increase in demand.

Source : Reuters
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Chinese railways set to grow 2.8pct from 2019-2027 - Fitch

According to a report by Fitch Solutions, China’s railway sector is projected to grow at an average 2.8% from 2019-2027 thanks to an increase in public-private partnerships (PPP) despite their limited usage. China’s PPP programme has been criticised for the lack of involvement of private players amidst an infrastructure boom across all sectors in the past decade, with state-owned enterprises or private partners with links to the government dominating the project pipeline.

Fitch Solutions said in its report that “We expect such a situation to change as Beijing tackles rising government debt and spending irregularities, especially within the local government. Our country risk team has noted that the central government intends to combat rising local government debt by increasing scrutiny on local government financing vehicles (LGFVs) and placing more stringent requirements on borrowing and expenditure.”

As a result, the local government’s ability to directly finance costly infrastructure projects will be reduced, prompting the central government to turn to PPPs to counterbalance the funding gap created by the decrease in LGFV usage.

According to the report, only five out 42 high-speed rail projects and four out of 133 metro and light rail projects were earmarked as PPPs.

Fitch Solutions said that “Even then, these PPPs are mostly public dominated, with state-owned enterprises (SOEs) such as China Railway Corporation and China State Construction Engineering Corporation spearheading projects.”

The report said that Whilst railway projects were once perceived as risky, the Hangzhou-Taizhou high-speed railway project which was awarded to a consortium led by private Chinese conglomerate Fosun Group marks a turning point for the country’s railway PPP programme.

However, Fitch Solutions noted that foreign companies may continue to find PPPs in China inaccessible due to the business environment in China, further suggesting that when such opportunities rise, they will be limited to private Chinese enterprises in the short term.

Source : SBR
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Samsung SDI to invest KRW 1.3 trillion to expand battery facility in China

Pulse News reported that Samsung SDI joined other Korean battery majors to ramp up battery plants in China to be ready for a leveler playing field in the world’s biggest electric vehicle market as the result of 2020 sunset in Beijing subsidies to EVs. The company on Wednesday announced it will spend KRW 1.3 trillion to up battery production capacity in Xian and Tianjin. The expansion on the battery factory in Tianjin, China, will be completed by early next year. The company will spend about 400 billion won to add three to four new lines in a 100,000 square meter site near its existing factory built in 1996 for production of small-size batteries powering smartphones and other small gadgets.

Samsung SDI also confirmed it will build two new battery plans in Xian in addition to its facility dedicated to medium- and large-size batteries for electric vehicles. The company is currently in discussion over investment details.

Source : Pulse News
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Petrochem complex sets national record in China

Wison Engineering Services Co, a private Chinese EPC contractor, said that it finished production, transport and installation of the ninth modular ethylene cracking furnace for Zhejiang Petrochemicals’ 40-million-ton-per-year (tpy) integrated refining and petrochemical complex on Zhoushan island off Shanghai. Eight other modules had been shipped and installed since March, each barged 50 miles to the site. Wison says the complex is set to have “the largest single-chain ethylene production capacity in China.”

Each cracker—53 ft high and weighing 3,689 tons—has an output of 200,000 tpy. Wison says challenges included tidal conditions and a typhoon. Contract value was not disclosed, but the project involves a USD 23.7-billion investment from Zhejiang, says an online publication, with Saudi Aramco a recent investor as well. Wison also announced this year a $360-million EPC contract for a petrochemical project in Texas, with modules set for delivery in early 2020. The project site and owner were not disclosed, nor was the identity of a “local construction contractor” Wison said it is working with. Wison called it the largest U.S. modularization project awarded to a private Chinese petrochemical firm.

Source : ENR
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Chinese HBIS Group to invest USD 4.4 billion in Philippine Mindanao steel plant

The Philippine Star reported that HBIS Group Co Ltd is set to invest USD 4.4 billion to build an integrated steel complex in Mindanao. During the signing of the memorandum of understanding for the implementation of the project, Trade Secretary Ramon Lopez said the amount to be spent by HBIS would be the biggest industrial investment from China to the Philippines. The MOU was signed by HBIS chairman Mr Yu Yong, Huili Investment Fund Co Ltd chairman Mr Meng Xiaosu, Steel Asia Manufacturing Corp. chairman and chief executive officer Mr Bejamin Yao, Defense Secretary Mr Delfin Lorenzana, and Board of Investments managing head Mr Ceferino Rodolfo.

The project to be implemented by the parties, will occupy a 305-hectare land inside the PHIVIDEC Industrial estate in Mindanao. It will have facilities related to port operation, sintering, coking, pelletizing, iron-making, steel-making and steel rolling. Phase 1 of the project covers the production of 4.5 million tonnes of hot rolled coils and 600,000 tonnes of slabs with USD 3 billion worth of investments, while phase 2 involves increasing the steel manufacturing capacity to eight million metric tons.

Construction and ramp-up period of the project is expected to take three to five years.

Source : Phil Star
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Chinese 2018 gas consumption to reach 270 bcm in 2018

Reuters reported that China is expected to consume 270 billion cubic metres of gas in 2018, Ms Li Yalan, the president of Beijing Gas said. China's capital will use as much as 130 million cubic metres a day during the peak winter heating period, added depending on how cold the weather gets. Beijing has become the world's second largest gas-consuming city.

Source : Reuters
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China’s aluminium output rebounds in November

Reuters reported that China’s primary aluminium output rebounded in November after three straight months of decline, defying a fall in prices for the metal used in everything from construction to making cars. Analysts were surprised by the climb, which came as smelters apparently ramped up output ahead of winter production curbs that kicked in around the middle of the month. The world’s top aluminium maker produced 2.82 million tonnes of the material last month, data from the National Bureau of Statistics showed. The bureau said that was up 3.9 percent from 2.72 million tonnes in October and up 19.2 percent from November 2017.

On a daily basis, China produced 94,000 tonnes of aluminium last month, versus around 88,000 tonnes in October, according to Reuters calculations. That was the highest daily rate since July, when the monthly total of 2.93 million tonnes matched the all-time high. November has one less day than October.

An analyst at Argonaut Securities Ms Helen Lau in Hong Kong said that “New capacity increases (probably) outpaced the capacity closures.”

Source : Reuters
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