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China's green energy company starts construction of biggest solar plant in Egypt

Xinhua reported that Egypt and China's clean energy company TBEA Sunoasis started the construction of four solar power stations at the Benban Solar Energy Park in Egypt's southern province of Aswan. The stations, with an output of 186 megawatts, are part of the giant Benban Solar Plant which is expected to be completed by mid 2019.

The Benban Solar Plant, after its completion, aims to generate up to 2 gigawatts of utility-scale solar capacity through a total of 40 projects.

Lynn Xia, TBEA's vice president of overseas business, told Xinhua that the plant is going to be one of the largest in the world.

"The responsibility is on our shoulders because we are the ones who deliver the work here," Xia said, adding that the project is TBEA's first in Africa.

TBEA Sunoasis Company is a major global green and smart energy service provider with business in more than 20 countries. It is devoted to achieving sustainable development of human society with the use of smart, efficient and green energy.

Governor of Aswan Magdy Hegazy, who attended the project's inauguration ceremony, said the total investment of the four stations is 180 million U.S. dollars.

The Benban Solar Park, about 650 km south of Cairo, is financed by a number of global funding agencies and banks, including the the Asian Infrastructure Investment Bank and the Industrial and Commercial Bank of China.

The solar plant, which occupies an area of 37 square km, will help Egypt increase its use of renewable energy to 22 percent of all domestic energy use by 2020.

The project is estimated to help reduce global greenhouse gas emission through cutting more than half million tons of carbon dioxide annually.

Source : xinhuanet.com
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Flinke daling Chinese export
In maart handelstekort.

(ABM FN) De export in China is in maart, na twaalf maanden op rij te zijn gestegen, gekrompen. Dit bleek vrijdag uit cijfers van de Chinese douane.

De uitvoer van Chinese goederen nam afgelopen maand, gerekend in yuan, met 9,8 procent af. De import steeg juist met 5,9 procent.

Gerekend in dollars daalde de export in maart met 2,7 procent op jaarbasis, na een stijging van 44,5 procent een maand eerder.

De import trok in dollars aan met 14,4 procent.

China had hierdoor vorige maand een handelstekort van krap 30 miljard yuan, of 5 miljard dollar. In de voorgaande maand was dit nog een overschot van 33,7 miljard dollar.

Overigens steeg in het eerste kwartaal de export nog altijd met 14,1 procent, terwijl de import met net geen 20 procent toenam. Dit leidde tot een handelsoverschot van 48,4 miljard dollar.

Door: ABM Financial News.

pers@abmfn.be

Redactie: +32(0)78 486 481

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Chinese 'bullet train' network is the largest in the world and it's about to get even bigger - Report

Business Insider reported that China Railway Corp, the country's government-owned train operator, will soon finish the last phase of the Guangzhou-Shenzhen-Hong Kong Express Rail Link, a high-speed rail line spanning more than 80 miles.

Construction is near complete in Hong Kong, where China is building a 4 million-square-foot station for the new trains, as reported by The Hong Kong Free Press.

While the seven-year, USD 10.7 billion project is certainly impressive, it has faced much controversy surrounding its cost, its construction delays, and how it could affect Hong Kong's political autonomy.

Source : Business Insider
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'Xiaomi bij beursgang 100 miljard waard'

Gepubliceerd op 16 apr 2018 om 09:17 | Views: 1.440

HONGKONG (AFN) - De Chinese smartphonemaker Xiaomi mikt met zijn gang naar de beurs op een waardering van 100 miljard dollar. Dat melden ingewijden aan persbureau Bloomberg.

De op vier na grootste smartphonefabrikant zou in mei de stap naar de beurs willen maken. De aandelenmarkt in Hongkong is de waarschijnlijkste kandidaat voor een notering van Xiaomi.

De voormalige start-up heeft zijn hoge waardering onder meer te danken aan goede resultaten vorig jaar, waarin het zijn omzetdoelen voor het gehele boekjaar al in tien maanden had gehaald. De Chinezen doen vooral goede zaken in India, waar ze concurrent Samsung naar de kroon steken als grootste smartphonemerk.

Na zijn beursgang in Hongkong geeft Xiaomi waarschijnlijk ook certificaten van aandelen in China uit. Dergelijke waardepapieren maken het voor inwoners van de Volksrepubliek mogelijk te investeren in Chinese bedrijven die aan een 'buitenlandse' beurs genoteerd staan.
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China warns 12 steel firms on environment, safety and compliance issues

Reuters reported that China’s industry ministry on Friday said it has ordered 12 steel mills to come back into compliance following breaches of environmental, safety and other regulations, while it has removed another 19 companies from a qualified enterprises list. The breaches range from excessive pollution at Hebei Rongxin Iron and Steel Group to a failure by Shanxi Xintai Iron and Steel to submit a self-inspection report on time, according to a document published by the Ministry of Industry and Information Technology.

The MIIT has been stepping up its attempts to regulate the sprawling steel industry in China, the world’s biggest producer of the metal, while the Ministry of Ecology and Environment and local authorities have also intensified inspections and imposed restrictions on production in key steel cities.

MIIT said that “The inclusion on the rectification list (for the breaches) is a reminder and warning to the company. If the company rectifies the situation within one year, its withdrawal from the list will be studied.”

Explaining its methodology in a separate document, the MIIT said the system was equivalent to issuing yellow and red cards to offenders in soccer, adding that it has been working to “eliminate blind spots” in the steel sector since 2013.

Yellow and red cards are issued to players in soccer matches to warn players on rules violations. A yellow card is a caution and a red card signifies ejection from a match.

Some of the 19 companies taken off the list of qualified enterprises were removed because they have not been producing for more than a year. Others have been incorporated into other firms or carried out capacity swaps, according to the document.

Source : Reuters
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China's March coal imports up by 21pct on year to 26.7 million tonne


China imported 26.7 million tonne of coal in March, including lignite, thermal and metallurgical material, up 27.70% from February and up 20.80% year on year. According to preliminary data released by China's General Administration of Customs, as expected, China commodity imports rebounded strongly in March following subdued imports during the Chinese New Year month. Imports over January to March totaled 75.41 million tonne, up 16.6% year on year.

The country exported 0.22 million tonne of coal in March, down 84.05 % year on year, the data showed.

Over January-March, exports reached 0.97 million tonne, down 60.5% year on year.

The GAC did not give a breakdown of the March imports and exports, which would be available later this month.

Source : Platts
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China's CCCC to invest USD 800 million on Sri Lanka Port city underground road

Reuters reported that China Communication Construction Company (CCCC) will invest USD 800 million to build an underground road network to Sri Lanka's Port City, a USD 1.4 billion project built on reclaimed land, a government minister said. The plan, for which an agreement has already been signed, is expected to reduce traffic congestion on the existing route once the Port City - part of Beijing's ambitious plan to create a modern-day "Silk Road" across Asia - starts operating.

Sri Lanka's Minister of Megapolis and Western Development Mr Champika Ranawaka told a Foreign Correspondents' Association forum "Once legal procedure on the new reclaimed land is done, the construction will start."

More than 60 percent of the Port City's area has been reclaimed from the sea in the commercial heart of Colombo, and is adjacent to the main port and the historic Galle Face Green park.

He said that total reclamation of the 269-hectare (665-acre) tract is expected to be completed by year-end.

Meanwhile, Sri Lanka is preparing legislation with tax incentives to lure investment into the Port City, a project of CCCC through its subsidiary, the state-run China Harbour Engineering Company Ltd.

Source : Reuters
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China on building spree of airports, ports in Pakistan

Asia Times reported that Islamabad’s new international airport, whose bill was reportedly partially footed by Beijing and which was built by the China State Construction Engineering Corporation (CSCEC), is all set for operation after a smooth trial run in which a Pakistan International Airlines passenger plane touched down on one of the two runways. The project was awarded in 2011 to a joint venture of the state-owned Chinese contractor and Pakistani firms through an international tendering process.

A CSCEC official said that with a 180,000-square-meter, 15-gate terminal made up of components prefabricated in China and riveted and welded together onsite, the airport will be able to handle 9 million passengers and 80,000 tons of cargo per annum.

The terminal is also home to a four-star hotel, duty-free shops, a food court and 42 immigration counters. The new airport will be able to service major wide-body aircraft such as the Airbus A380 and A350 as well as Boeing 747-8 airliners.

Construction of a third runway has also been awarded to a consortium led by the Chinese builder.

Karachi-based English-language newspaper The Express Tribune reported in April 2017 that the new airport would be named after Chinese President Xi Jinping, citing a source privy to the office of the Pakistani prime minister as saying that it was the then-PM “Nawaz Sharif’s own decision” to honor Xi and hail the brotherhood between the two nations.

But later a Pakistani aviation official refuted the report as an April Fool’s Day prank and said the airport would be named after the nation’s first prime minister, Liaquat Ali Khan.

The Pakistani prime minister’s aviation adviser, Mehtab Khan, has told China Central Television that Pakistan would kickstart construction of another massive airport this year to serve the southern port city of Gwadar to propel the city toward becoming the nation’s trade hub.

A CSCEC representative said on the same CCTV program that the future Gwadar airport would be larger than the new airport in the Pakistani capital. He also dismissed rumors that have appeared in Pakistani and Indian papers that the plethora of Chinese construction projects in the country would serve any military purpose.

Source : Asia Times
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Chinese record-breaking bridge nears completion

It is reported that In China’s Jiangsu Province, north of Shanghai, work is in progress on what will be the world’s biggest cable-stayed bridge, the Shanghai-Nantong Yangtze River Bridge. As well as the world’s longest span (1,092m), it will also have the tallest pylons at 325m.

Doka automatic climbing formwork SKE100 plus is being used in combination with Large-area formwork Top 50 to construct the pylons.

Due for completion in 2019, the Shanghai-Nantong Yangtze River Bridge will take its place in the list of mega-bridges. With a total length of 11,072m, the bridge has two levels, with a six-lane highway on the upper level and a four-line railway on the lower.

The new traffic link is part of the efforts to create a new economic zone around Shanghai. When completed, the bridge will cut journey time between Shanghai and Nantong from two hours to one.

The south bridge is a cable-stayed structure with steel framework, spanning the main channel of the Yangtze River. The north bridge crosses the Tiansheng Port channel and has a rigid steel girder structure and a flexible arch with a main span of 336m.

The pylons are being constructed in one of the biggest and deepest (115m) coffer dams ever built. The enclosed area is about the same size as 12 basketball courts and approximately 147,000 m³ of concrete is needed for one pylon.

Difficult weather conditions, climbing in 55 pouring steps without major alterations to the working platforms and progressive re-use of the formwork sheets posed major challenges for Doka.

Mr Yuan Bo, principal engineer from China Railway Bridge Bureau, said that “Height of more than 300m and poor, foggy weather conditions are the biggest challenge for this jobsite.

Source : khl.com
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Workers building a Russia-China bridge have not been paid - Report

Russian Construction reported that workers employed by MostDorStroy company appealed to the Investigative Committee and the Prosecutor's Office of the Jewish Autonomous Region in Russia with a complaint about non-payment of salaries for the construction of a railway bridge to the Chinese city of Tongjiang.

As a result, an investigation was launched into this matter, Interfax news agency reported on Wednesday citing a statement by the regional department of the Russian Investigative Committee. The construction works are conducted in the Leninsky district of the Jewish Autonomous Region. Currently, a number of probes are being conducted and investigators are seizing documentation as well as interrogating the company’s employees.

As specified in the statement, more than 120 builders have not fully received payments for their labor for the period from January to February this year, will since March the payments have not been made at all.

However, we should remind you that the construction of a bridge from the Russian village of Nizhneleninskoye to China has been carried out for several years. The facility, which is over two kilometers long, will become part of a new trade route between the two countries and is expected to increase the transport accessibility of a number of Russia’s regions.

Source : Russian Construction
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Chinese built a road so smart it will be able to charge your car - Report

Gulf Times reported that the road to China’s autonomous-driving future is paved with solar panels, mapping sensors and electric-battery rechargers as the nation tests an “intelligent highway” that could speed the transformation of the global transportation industry. The technologies will be embedded underneath transparent concrete used to build a 1,080-meter-long (3,540-foot-long) stretch of road in the eastern city of Jinan. About 45,000 vehicles barrel over the section every day, and the solar panels inside generate enough electricity to power highway lights and 800 homes, according to builder Qilu Transportation Development Group Co.

Yet Qilu Transportation wants to do more than supply juice to the grid: it wants the road to be just as smart as the vehicles of the future. The government says 10% of all cars should be fully self-driving by 2030, and Qilu considers that an opportunity to deliver better traffic updates, more accurate mapping and on-the-go recharging of electric-vehicle batteries—all from the ground up.

Zhou Yong, the company’s general manager, said that “The highways we have been using can only carry vehicles passing by, and they are like the 1.0-generation product. We’re working on the 2.0 and 3.0 generations by transplanting brains and a nervous system.”

The construction comes as President Xi Jinping’s government pushes ahead with a “Made in China 2025” plan to help the nation become an advanced manufacturing power and not just a supplier of sneakers, clothes and toys for export. The 10 sectors highlighted include new-energy vehicles, information technology and robotics.

China also has a separate plan for developing its artificial-intelligence industry that calls for the nation to be the world’s primary AI innovation center by 2030.

Part of that effort involves building what the government calls an intelligent transportation system. Coordinating the development of autonomous-driving cars and intelligent-road systems is a focus, said Yuan Peng, the deputy head of the transportation ministry’s science and technology department.

Yuan said that “The ministry will help offer smart roads for the smart cars that are coming.”

Step one makes up a section of the expressway surrounding Jinan, an old industrial hub of about 7mn people that’s home to China National Heavy Duty Truck Group, which is also known as Sinotruk and includes Volkswagen AG’s MAN SE as a minority shareholder. Zhejiang Geely Holding Group also has a plant there making Geely brand cars.

The road has three vertical layers, with the shell of see-through material allowing sunlight to reach the solar cells underneath. The top layer also has space inside to thread recharging wires and sensors that monitor temperature, traffic flow and weight load.

The solar panels spread across two lanes, which feel no different to a driver than the regular road, and are thinner than a 1-yuan coin standing on its edge. The test road is too short to deliver wireless recharging at the moment, Zhou said.

Source : Gulf Times
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Stabiele groei Chinese economie
BBP stijgt met 6,8 in eerste kwartaal.

(ABM FN-Dow Jones) De economie van Chinese is in het eerste kwartaal van 2018 even snel gegroeid als in het voorgaande kwartaal. Dit bleek dinsdag uit cijfers van het Chinese nationale statistiekbureau.

In de maanden januari tot en met maart groeide het bruto binnenlands product van China met 6,8 procent ten opzichte van dezelfde periode in 2017. Economen rekenden vooraf op een toename van 6,7 procent. In het vierde kwartaal van 2017 groeide de Chinese economie op jaarbasis ook al met 6,8 procent.

Ten opzichte van het vierde kwartaal groeide de Chinese economie met 1,4 procent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Industriele productie China gestegen
Stijging in maart wel teruggelopen.

(ABM FN-Dow Jones) De productie van de Chinese industrie is in maart gestegen, maar wel in een lager tempo dan in februari. Dit meldde het Chinese statistiekbureau dinsdag.

De productie steeg in maart met 6,0 procent, na een toename van 7,2 procent een maand eerder. Economen rekenden voor maart op een plus van 6,3 procent.

Op maandbasis ging het om een stijging van 0,33 procent, na een plus van 0,57 procent in februari.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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Chinese detailhandelsverkopen gestegen
Ruim 10 procent groei in maart.

(ABM FN-Dow Jones) De detailhandelsverkopen in China zijn in maart in een hoger tempo gestegen. Dit bleek dinsdag uit overheidscijfers.

De verkopen stegen in maart met 10,1 procent ten opzichte van de voorgaande maand. In januari en februari was nog sprake van een groei van 9,7 procent.

Op maandbasis bedroeg de groei 0,73 procent, na 0,71 procent stijging in februari.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires
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China to allow foreign investors to trade iron ore futures

Reuters reported that China will allow foreign investors to trade in domestic iron ore futures markets starting on May 4, the country’s securities regulator said in a news briefing that the Dalian Commodity Exchange is currently the only Chinese exchange offering iron ore futures contracts.

Iron ore futures are the second Chinese commodity derivatives market that has been opened to overseas investors after the crude oil futures contract offered by the Shanghai Futures Exchange that started trading last month.

China is the world’s biggest consumer of iron ore, the raw material for manufacturing steel. The country is also biggest steel producer globally.

In February, Dalian issued draft rules to guide foreign investors for participating in the market.

The Dalian Exchange did not immediately respond to requests for a comment on the CSRC announcement when contacted by Reuters.

Source : Reuters
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Chinese copper imports robust in March

Mining com reported that February customs data from China showed that import volumes of unwrought copper bounced back sharply, totaling 436,000 tonnes in March. First quarter shipments came to 1.23 million tonnes, up 7.3% compared to Q1 2017.

Rising imports have coincided with a build-up of inventories however, with stockpiles on the Shanghai exchange nearly doubling since end-2017. Together with LME and CME inventories, copper in warehouses totaled 889,000 tonnes at the end of March the highest since 2003.

Concentrate cargoes landing at Chinese ports also recovered, up more than 10% from February to total 1.6m tonnes in March. The total for the first three months puts China's copper concentrate imports on track to top the record levels of 2017 of 17.3 million tonnes, boosted by a ban on most types of scrap imports which have fallen by 40%.

Source : Mining com
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China exports of aluminium reach fourth highest total ever in March

Aluminium Insider reported that despite fighting what may prove to be the opening skirmishes of a wider trade war, exports of aluminium from the People’s Republic of China reached nine-month highs last month, cashing in on higher prices for the metal.

According to experts, the limited impact of the Trump administration’s blanket 10-% tariffs upon all imported aluminium was due largely to the fact that the tariff did not come into effect until the latter third of the month. In addition, sanctions levied earlier this month may well push exports higher, as analysts see the sanctions as almost certainly disruptive to established aluminium trade flows throughout the world.

Per China’s General Administration of Customs, exports of raw aluminium and aluminium products were 10.2-% better than last March’s overall total, coming to 452 thousand metric tons for the month. That total represents the fourth-highest volume of exports in a single month ever recorded by the administration.

Exports in the month were 22.2 % above those of February, which totaled 370 thousand metric tons.

The Trump administration enacted blanket 10-% tariffs on all imported aluminium on March 23 based upon the findings of a year-long investigation under Section 232 of the Trade Expansion Act of 1962 by the Commerce Department regarding the national-security implications of low-cost aluminium imported into the country. Wildly unpopular since their announcement in early March, the move has been seen by many as the first overt act between the United States and China in what may well become a significant trade war.

Shortly after the tariffs came into effect, the Trump administration negotiated separate exemptions for a handful of countries and the European Union. Granted to those countries the administration views as allies, the exemptions end when the month does unless those granted the exemption are successful in negotiating a longer, more permanent settlement.

Source : Aluminium Insider
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Shanghai Electric to build the world's largest concentrated solar power project in Dubai

Power News - Published on Tue, 17 Apr 2018
Image Source: shine.cn

Shanghai Electric signs a contract with Saudi Arabia-based developer ACWA Power today in Shanghai to build the world's largest concentrated solar power plant in Dubai. Chinese manufacturing giant Shanghai Electric signed a contract to build the world’s largest concentrated solar power project in Dubai, in a move that will see it elbow into the global green energy market.

The contract was signed with Saudi Arabia-based developer ACWA Power, with Shanghai Electric being the contractor who will ensure the project is completed in time to support the World Expo in Dubai in 2020.

The US$3 billion project will see 700 Megawatts of generation capacity, which upon completion will account for 7 percent of Dubai's power supply, said Mohammad A Abunayyan, chairman of ACWA Power. The project serves Dubai’s plan to increase the share of clean energy in its total power output, which by 2020 should be 7 percent, and rise to 25 percent by 2030.

The solar power plant will feature a 260-meter tower to receive focused sunlight, which will be by far the world’s tallest tower of its kind, according to Dubai's government.

Shanghai Electric won the bid from tens of competitors “thanks to its reliability in delivery,” Abunayyan said. “More importantly, it enables the cost of power generation to be around 7 US cents per kilowatt-hour, almost the same as conventional energy.”

Zheng Jianhua, chairman of Shanghai Electric, said the project marks the group’s new step toward the world’s leading green energy markets, “with Dubai having the world's most severe manufacturing rules."

"We are confident that we are ready for such markets with our technologies improving rapidly," he said.

According to Zheng, the solar power plant applies concentrated solar power technology, allowing it to generate electricity all-day round rather than working merely when the sun shines.

The technology stores heat converted from sunlight for power, differentiating it from traditional technologies which convert sunlight directly into electricity.

The project echoes China’s belt and road initiative by enlarging the nation’s manufacturing power worldwide, “showing the deepening partnership between Chinese manufacturers and those from the Middle East,” H.E Saeed Mohammed Ahmed Al Tayer, managing director and chief executive officer at Dubai Electricity and Water Authority said.

Source : SHINE
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China's March crude oil imports 2nd highest on record, fuel exports hit new high

Reuters reported that China’s March crude oil imports climbed from a month earlier to the second highest on record, calculated on a daily basis, as refiners replenished stocks on generous government quotas and ahead of peak maintenance season. March shipments came in at 39.17 million tonnes, or 9.22 million barrels per day (bpd), the General Administration of Customs said. That compared with 8.41 million bpd in February, and January’s record 9.57 million bpd.

Imports for the first quarter grew 7 percent from a year ago to 112.07 million tonnes, or about 9.09 million bpd. That marked an increase of nearly 595,000 bpd on average compared with the same period in 2017.

The first-quarter growth was fueled by higher government quotas for independent plants. But a new tax regulation targeted at small refiners and blenders, as well as planned plant overhauls, is seen capping buying for April and May.

Seng Yick Tee of consultancy SIA Energy, said that “Independents remain the largest contributors to the imports growth. We estimate their imports expanded at 30 percent in the first quarter.”

Tee added that the commissioning of the expanded East Siberia Pacific Ocean (ESPO) pipeline, PetroChina’s newly commissioned Yunnan refinery and CNOOC’s new Huizhou plant also contributed growth.

Source : Reuters
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Shanghai world’s busiest container port - Report

Shanghai was the world’s busiest container port in 2017, according to a report by shipping consultancy service Alphaliner. Shanghai handled a total of 40 million Twenty-foot Equivalent Units (TEUs) last year, an 8.3 percent increase from the previous year.

Singapore took second place, followed by Shenzhen, which ranked third on the list with 25 million TEU. Ningbo and Hong Kong were another two ports in China that made it into the top 10.

The Alphaliner report said that, thanks to the recovery in the global economy, the world’s busiest container ports enjoyed a 5 percent increase and recorded a total volume of 600 million TEU in 2017.

Source : ECNS
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