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China nieuws berichten

7.835 Posts, Pagina: « 1 2 3 4 5 6 ... 171 172 173 174 175 176 177 178 179 180 181 ... 388 389 390 391 392 » | Laatste

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voda 23 juli 2018 15:10

Peking pompt miljarden in Chinese economie

Gepubliceerd op 23 jul 2018 om 08:36 | Views: 2.943

PEKING (AFN/BLOOMBERG) - De centrale bank van China heeft maandag via eenjarige leningen aan de bankensector 502 miljard yuan (63,3 miljard euro) in de economie gepompt. De omvangrijke geldinjectie wijst op een koerswijziging in het Chinese monetaire beleid.

Formeel staat de Chinese centrale bank een ,,voorzichtig en neutraal'' monetair beleid voor, waarbij wordt afgezien van omvangrijke leningen om meer geld in omloop te brengen en de economie te stimuleren. Die versobering is een van de speerpunten van president Xi Jinping, die zich ten doel heeft gesteld de enorme schuldenlast van China terug te dringen.

Nu China verwikkeld is geraakt in een handelsconflict met de Verenigde Staten, lijkt het erop dat Peking de teugels toch weer wat laat varen. Zo zou de centrale bank in ruil voor de omvangrijke geldinjectie financieel dienstverleners vorige week hebben gevraagd ook risicovollere bedrijfsobligaties op te kopen.

voda 23 juli 2018 15:41

Chinese steel output cuts to vary from mill to mill next winter - Report

Reuters reported that production cuts in China’s mammoth steel sector will vary from mill to mill next autumn and winter, as the country shifts away from a one size fits all approach to fighting pollution. Liu Bingjiang, director of the air environmental management department at the Ministry of Environment and Ecology (MEE), said at a conference on Saturday “This year, production curbs (in the steel industry) will definitely be differentiated based on the emission level at each steel mill.”

Wu Jianjun, director of the air pollution department at the Tangshan Environmental Bureau, said on the sidelines of the conference “Differentiated measures will give companies more incentives to improve their emission levels. Tangshan will hire a third-party institute to assess emission levels at mills and will implement curbs based on those results. Detailed production restriction plans for winter have not been issued in Tangshan, in the province of Hebei, but the rates are expected to be higher than last year. Environmental measures will be more and more stringent until at least 2020.”

That comes after the nation’s state council earlier this month said the 82 cities required to take special anti-smog measures over autumn and winter would be able to draw up their own bespoke plans for those steps. Industrial plants in the steel, cement and primary aluminium sectors in 28 northern cities were last winter ordered to cut as much as 50 percent of their production capacity as part of the government’s years-long war on pollution. But some local officials simply imposed blanket production suspensions on all industrial enterprises regardless of their emission levels, stoking some public discontent. The MEE said in May that it planned to end the ‘one size fits all’ approach to fighting pollution and promised to give local regulators enough time to make their own plan rather than imposing orders from above.

Source : Reuters

voda 23 juli 2018 15:45

Trump Trade War- Trump threatens USD 500 billion tariffs on China

Sputnik reported that US President Donald Trump said Friday that he was ready to impose tariffs on all imports from China. Trump told CNBC in an interview "We are down 375 billion but other estimates could say 507. We are down a tremendous amount. I raised 50… I'm ready to go to 500. I'm not doing this for politics, I'm doing this to do the right thing for our country. We have been ripped off by China for a long time."

Donald Trump said that China, EU manipulating currencies, keeping interest rates low while the US rate rises. Trump said in a Twitter message “China, the European Union and others have been manipulating their currencies and interest rates lower, while the US is raising rates while the dollars gets stronger and stronger with each passing day — taking away our big competitive edge. As usual, not a level playing field.”

In May, the White House issued a statement saying that the United States will impose a 25-percent tariff on USD 50 billion of goods imported from China, which contain industrially significant technology. In response, Beijing vowed to retaliate against US exports to China with a matching value.

Source : Sputnik

voda 23 juli 2018 15:59

Trump Trade War - US counterclaim has gangster logic - Xinhua

Xinhua reported that United States filed challenges against China, the European Union, Canada, Mexico and Turkey at the World Trade Organization claiming that the US initiated steel and aluminum tariffs were wholly legitimate and fully justified on national security grounds, while the countermeasures taken by these economies were completely without justification. The United States is fiddling around with double standards and violating international rules, and its bullying has been resisted by other WTO members.

First of all, steel and aluminum are mostly civil products which are part of the commodities in international trade. If imports of steel and aluminum harm national security, there would be no product that does not harm national security. The imposition of tariffs on steel and aluminum imports with the excuse of "national security" is an abuse of the WTO's national security exception clause. Such an abuse would put the entire international trading system and multilateral trade rules at risk, and cause serious damage to the multilateral trading system. According to the statistics of the US Commerce Department and Defense Department, steel imports only account for about one-third of its domestic consumption, of which the US defense industry needs only 3 percent. It is safe to say that U.S. domestic steel production is sufficient to meet the needs of national defense, and it is impossible for steel imports to harm its "national security."

International trade experts have repeatedly pointed out that U.S. imposition of tariffs on steel and aluminum is utter trade protection. This has become a broad consensus among WTO members. It is clear who is undermining and violating multilateral trade rules.

Secondly, during its negotiations with trade partners over the exemption of steel and aluminum tariffs, Washington forced them to implement "voluntary export restraint." Such an attempt to bring back the quota era is another serious violation of WTO norms. While the United States imposed high tariffs on steel and aluminum, it granted exemptions to some individual economies for political and economic reasons. Washington's discriminatory double standards violate the WTO's most-favored-nation treatment principle. The United States has abandoned multilateral trade rules in favor of self-serving double standards, forcing some economies to set limits on their exports, while granting exemptions to others solely for its own interests, thus seriously disrupting the international trade order.

Thirdly, the fight against US steel and aluminum tariffs by other economies is a righteous move to uphold the basic principles of the WTO and safeguard the multilateral trading system. It is also a necessary move to urge Washington to comply with its WTO obligations. It is a typical gangster logic for the United States to impose tariffs and not allow others to retaliate.

The current multilateral trading system, represented by the WTO, was established by all parties worldwide through consultation, and the more than 160 members, including the United States, are obliged to follow the rules of the world trade body. As the world's largest economy and a founding member of the WTO, the United States' trade bullying has threatened the foundation of the multilateral trading system. If other economies do not fight back, the international trade system will be reduced to a status that is governed by the "law of the jungle."

The international community sees clearly who wields sticks of high tariffs at will at the price of international trade rules, or who is taking necessary "legitimate defense" to uphold the multilateral trading system. It is also believed that the WTO will make a just verdict.

Source : Xinhua

voda 24 juli 2018 16:50

The mega-machines helping China link the world - Report

BBC reported that China is creating a network of ambitious land and sea-based transport links to connect its booming economy with those of Europe and Africa. And it's wasting no time - designing incredible bespoke construction machines to get the job done fast.

President Xi Jinping's ambitious Belt and Road Initiative (BRI), launched in 2013, aims to connect two-thirds of the world's population across 70 countries through a network of land links (the "belt") and sea routes (the "road").

Officials talk about lifetime investments worth trillions of dollars, sourced from banks, participating countries and the Chinese government.

The scheme is not without controversy. Critics point out that it burdens poor countries with billions of dollars of Chinese debt, and dismiss it as a projection of Chinese foreign policy.

Nevertheless, evidence of the Belt and Road can already be seen in China and beyond, where a fleet of new machines is building railways at considerable speed.

Building bridges
How do you build high-speed railways quickly where large sections of the route must be suspended over valleys and canyons to avoid bends?

Enter bridge-building machine SLJ900/32 - locally nicknamed the Iron Monster.

The SLJ is an all-in-one machine capable of carrying, lifting and placing sections of track, connecting pillar with pillar by heavy stone blocks.

This is how it works:

After laying each section, the 92m (300ft) vehicle - with the help of its 64 wheels - returns to collect another block. It then rolls forward over the part it has just laid to place another section.

Each wheel is in a fully rotating block of 16, meaning it can also move sideways.

Even with a full load, it can move at 5km/h (3mph), ensuring that the whole process is much quicker than traditional methods, which needed enormous cranes to be built on the ground.

At 580 tonnes, it is also much heavier than any of the railway traffic that will pass over the track it lays, meaning its bridges are made far stronger than necessary for rail traffic.

It has already contributed towards several high-speed rail projects, including a new link between Inner Mongolia and the rest of the country, propelling China towards its goal of 30,000km of high-speed rail by 2020.

Digging tunnels
Further south, the Su'ai Highway project in Shantou, not far from Hong Kong, presents the ambitious task of drilling 5km of underground six-lane motorway through an earthquake zone.

When the tunnel opens in 2019, officials hope it will modernise Shantou's transport connections in time for it to become one of the designated 15 key ports along the maritime Silk Road.

Previously, the machinery needed for the Su'ai Highway project would have been made overseas, but China has recently begun manufacturing its own tunnel boring machines (TBM) under license.

The result is this 15.3m slurry TBM, built by the China Railway Engineering Equipment Group Company, with help from freelance German engineers and unveiled in October 2017.

Like its German counterparts, it has a gigantic spinning disc at the front, capable of cutting into earth and rock.

Weighing 4,000 tonnes, it has 100m of trailing infrastructure that enables workers to install the tunnel walls as the cutting head inches forward powered by hydraulic rams.

As with other "slurry" machines, debris from the cutting head is then collected and transported back out of the tunnel.

It is not the widest TBM in the world - that accolade goes to Bertha, a 17.4m TBM built for use in Seattle's Alaskan Way viaduct.

However, machines such as the 15.3m CREG underline China's intention to become a key player in tunnel construction.

Laying tracks
While the foundations of the BRI are laid across China, vast Chinese-funded infrastructure projects are already in progress thousands of miles away.

The Mombasa-Nairobi railway in Kenya received international attention when it was completed in May 2017, not least because it was 18 months ahead of schedule.

The 480km railway is the first new line for Kenya since independence.

With 90% of its funding coming from China's Exim bank, it is the first railway outside China built to Chinese construction standards with Chinese machinery.

To understand how the railway was built at a pace of 700m a day, look no further than the machine that laid the tracks.

Here it is in action:
The track-layer transports prefabricated lengths of track along a railway line, sets one down, then rolls along the newly positioned track to set down the next one.

Once these pieces of track are in place, the short rails attached to each section are replaced with longer ones that will give trains serving the route a smoother ride.

It takes just four minutes to install each section of track.

This is not a new idea - the principle has been put into practice in many parts of the world for decades - but China does it fast, building the machines quickly and cheaply, and making them capable of carrying larger sections of track.

For all their technical wizardry, these machines still require an enormous amount of manpower.

Local workers - supervised by Chinese engineers - toil to create sections of track in temporary factories along the route of the railway.

They must then painstakingly ensure that the track section is secured in just the right place, with a margin of error of less than 2cm (0.8in).

There are concerns over their safety. Last year a senior Chinese engineer working on the Mombasa-Nairobi line told Xinhua news agency: "On-site accidents are commonplace.

"When they happen, they are almost always severe and often fatal."

For now, though, around a million passengers have taken the route, which cuts the journey time along the old British colonial route from more than 10 hours to about four.

Meanwhile, work has already begun to extend the line further west into Kisumu thanks to another $1.5bn (£1.1bn) loan from China's Exim Bank. Eventually, it will link Uganda, Rwanda, South Sudan and Ethiopia.

Source : BBC

Bijlage:

voda 24 juli 2018 16:54

China's new metro construction policy is credit positive for sector development - Moody's

Moody's Investors Service said that China's (A1 stable) updated policy on metro construction is positive for the long-term development of the metro sector and for regional local governments (RLGs). The updated policy, which supersedes earlier guidelines published in 2003, is in line with Moody's view that China's metro systems perform a high public service function, which in turn implies high levels of support from RLGs and China's central government.

Ada Li, a Moody's Vice President and Senior Analyst, said that "The policy reduces the financial risk of metro companies, as highly geared metro companies have to suspend construction on new projects, while new projects without specified debt repayment sources will not be approved."

Mr Amanda Du, a Moody's Vice President and Senior Analyst, said that "The policy is also in line with China's efforts to control RLG liabilities and to avoid unnecessary infrastructure spending, and thus should help contain the contingent liabilities of RLGs."

Moody's conclusions are included in its just-released report "Mass transit sector -- China: China's new policy on metro construction is positive for sector development".

The policy, published by China's State Council on 13 July, aims to clarify the criteria for central government and RLG support, and to increase the focus on the commercial effectiveness of projects at the planning stage.

Metro companies that remain eligible for new metro projects will benefit from the new policy, as RLGs will be required to establish a transparent metro funding mechanism and to ensure sufficient and timely support.

Source : Strategic Research Institute

voda 25 juli 2018 12:29

China: goede communicatie met Qualcomm

Gepubliceerd op 25 jul 2018 om 11:19 | Views: 569 | Onderwerpen: China

QUALCOMM 24 jul
58,86 -0,22 (-0,37%)

PEKING (AFN/RTR) - De Chinese toezichthouder heeft een goed gesprek gehad met chipmaker Qualcomm over de overname van de Nederlandse branchegenoot NXP. Dat heeft het Chinese ministerie van Buitenlandse Zaken woensdag gezegd.

China moet de overname nog goedkeuren. Acht andere toezichthouders, waaronder die van de Europese Unie en de Verenigde Staten, gaven al groen licht.

De overname met een waarde van 44 miljard dollar werd in oktober 2016 aangekondigd. Toen werd vastgelegd dat de toezichthouders uiterlijk donderdag om 05.59 uur Nederlandse tijd hun goedkeuring moeten hebben gegeven. Lukt dat niet, dan is de hele overname van tafel. Qualcomm moet NXP dan 2 miljard dollar betalen als zogeheten 'break-up fee'. Daarmee vergoedt Qualcomm de schade voor onder meer de tijd die NXP heeft gestoken in de overname.

voda 25 juli 2018 13:50

China’s import restrictions leave ships idle

Ports Strategy reported that coal carrying vessels have increasingly been left idle off the coast of China as a result of thermal coal import restrictions at the country’s major ports, sources have said.

Restrictions were introduced in April to restrict growth in coal imports in order to support domestic coal prices and encourage an increase in local production, but a growing number of ships have been queuing off several ports in the southern provinces of Guangxi, Guangdong and Fujian, along the eastern coast and up to Shandong province, sources said, according to Hellenic Shipping News.

A China-based trader said, reported Hellenic Shipping News that “Imported coal not meant for local enterprises’ usage is not allowed to clear customs.”

More than 200 idle

S&P Global Platts cFlow vessel tracking software showed that on 20 July 243 ships loaded with coal were stationary off the coast of China, up from a count of 102 ships when the previous round of port restrictions were imposed at the end of October 2017.

The stationary coal ships include 25 that are lying idle in the Hong Kong regional vessel queue, 13 in the Ningbo/Zhoushan Anchorage area, and six in the Rizhao queue, according to cFlow.

Market sources have reported extensive delays and longer queues for ships arriving to discharge seaborne thermal coal at several ports.

Another Chinese trader said that “The restrictions have been tightened since April.” Chinese trader said that “But the impact became more obvious now as utilities are using up their import quotas.”

Source : Ports Strategy

voda 25 juli 2018 14:49

Chinese iron ore production decline fast over the past year

Business Insider reported that China’s push for blue skies and eliminating inefficient and illegal producers continues to take its toll on Chinese iron ore output. Posted on Twitter by Mr Robert Rennie, Head of Financial Market Strategy at Westpac Bank, it shows domestic iron ore production in China has fallen sharply over the past year, slumping to the lowest level in a decade on a seasonally-adjusted basis.

Compared to major seaborne iron ore producers, especially in Brazil and Australia, the vast majority of Chinese mines produce ore with low iron content.

Given China’s push to improve air quality in northern parts of the country especially during winter months has seen Chinese steel mills favour higher quality, more efficient ore over the past couple of years, contributing to a widening price discount between low and high grade ores.

Elevated steel mill margins helped by the shuttering of inefficient steel producers in China and continued strength in steel demand has also been a factor behind the divergence in prices across the grades.

With demand and prices for lower quality ore weak, it’s clearly taken its toll on Chinese production levels, a structural change that appears unlikely to reverse in the foreseeable future.

That’s good news for seaborne iron ore producers, especially should Chinese steel production and demand remain strong in the period ahead.

Mr Rennie said that “[The decline in Chinese production levels], coupled with softer imports, has left overall iron ore supply at five-year lows.”

Mr Rennie said that “[This] argues that prices should be well supported.”

Source : Business Insider

Bijlage:

voda 25 juli 2018 17:06

President China: geen winnaars handelsoorlog

Gepubliceerd op 25 jul 2018 om 16:48 | Views: 170

JOHANNESBURG (AFNRTR/BLOOMBERG) - De Chinese president Xi Jinping denkt dat er geen winnaars zullen zijn bij een wereldwijde handelsoorlog. Een handelsoorlog moet dan ook worden afgekeurd, aldus Xi op een bijeenkomst in het Zuid-Afrikaanse Johannesburg.

Volgens Xi zullen degenen die een handelsoorlog nastreven ,,alleen zichzelf pijn doen''. Hij sprak op een bijeenkomst van de zogenoemde BRICS-landen (Brazilië, Rusland, India, China en Zuid-Afrika) in Johannesburg. De Chinese president roept de BRICS-landen op om zich te houden aan de internationale handelsregels en unilateralisme en protectionisme af te wijzen. Hij verklaarde verder dat China ontwikkeling zal nastreven met de ,,deuren wijd open''.

China is een felle handelsvete verwikkeld met de Verenigde Staten door het protectionistische beleid van president Donald Trump. Beide economische grootmachten hebben elkaar voor miljarden aan importheffingen opgelegd.

voda 26 juli 2018 11:11

Profits of Chinese steel mills in H1 surges by 151pct YoY

Xinhua reported that as per China Iron and Steel Industry Association (CISA) data, the combined profits of Chinese steel makers surged in the first half of 2018 on strong demand. CISA said “In the first half, profits of about 380 steel makers stood at CNY 139.27 billion (About USD 20.5 billion), up 151.15% YoY as total sales rose 15.33% YoY to CNY 1.97 trillion.”

With strong profits, the steel sector saw a decline in the ratio of liabilities to assets, which was down 3.97 percentage points year-on-year to 67.3 percent at the end of June.

Yu Yong, head of CISA, said "In the first half, the iron and steel sector witnessed stable momentum that had not been seen in years. However, uncertainties will rise in the latter half, including international trade friction, production suspensions during the winter heating period and price changes in fuels. Meanwhile, the steel market will be weighed on if crude steel production is held steady near the historic high registered in June."

Source : Xinhua

Bijlage:

voda 26 juli 2018 13:58

China’s spot TC/RCs for imported copper conc rises

Platts reported that spot treatment and refining charges for imported copper concentrates for Chinese smelters were at USD 84 to USD 90 per tonne and 8.4-9.0 cents/lb in the week of July 15-21, up from USD 83 to USD 90 per tonne, and 8.3-9.0 cents/lb in the preceding week, with concentrate buyers and sellers still at a stalemate, Chinese industry sources said this week.

The spot fees were rising over May and June from USD 74 to USD 81 per tonne and 7.4-8.1 cents/lb in the third week of May, to USD 83 to USD 90 per tonne and 8.3-9.0 cents/lb in the last week of June on concerns that copper concentrates, which were meant for India would be shipped instead to China, following the shutdown of the Tuticorin Smelter in India, according to Chinese industry sources.

At end-April, the spot fees were at USD 70 to USD 76 per tonne and 7-7.6 cents/lb.

TC/RCs, the fees paid to smelters by mines, for converting the concentrate into refined copper, are a key source revenue for smelters.

Meanwhile in its copper report this week, Hubei-based brokerage said that talks between BHP’s Escondida copper mine in Chile and the labor union there did not progress well, given the recent rising fee trend. Thus, the bigger concentrate traders have declined sales, with the done deals at the USD 90/mt, and 9.0 cents/lb level mostly of ore grade with higher impurities.

The report also said some Chinese smelters have finished replenishing concentrate stocks for the third quarter, reducing spot demand.

Chinese smelters were hoping to get clean ore at fees of USD 90 per tonne and 9.0 cents/lb, given the sharp devaluation of the Renminbi, the brokerage said.

It expected the buy-sell deadlock to continue, with debates likely in the upcoming Q4 concentrate sourcing as it would impact the term TC/RC contracts for next year.

Chinese industry sources predicted fees for Q3 to remain high, on lack of compromise between BHP and the labor union.

Jiangxi Copper Corp in its 2018 copper report said better spot fees could motivate Chinese smelters’ expansion, but said as domestic concentrate capacity growth was lagging behind that of smelters, it foresaw a structural conflict in domestic concentrate supply and demand in the medium to long run.

It said the commissioning of new smelters in China in H2, 2018 and next year would swiftly hike demand for concentrate, so pressuring TC/RC in the long run.

China Smelters Purchase Team in its end-June meeting had set floor fees for the third quarter at USD 90 per tonne, and 9 cents/lb, up from USD 78 per tonne and 7.8 cents/lb for Q2.

It said since early Q2, smelters in India and the Philippines had cut operation rates and shutdown due to environmental protection issues, resulting in concentrates being shipped to China, spurring continual bullish sentiment in TC/RCs in the past months.

CSPT has cut its floor TC/RCs for Q2 to USD 78 per tonne and 7.8 cents/lb, down USD 9 per tonne and 0.9 cents/lb from the minimum fee of USD 87 per tonne and 8.7 cents/lb for Q1, data from Jiangxi Copper showed.

Set up in November 2003 to jointly negotiate TC/RCs with overseas copper mines, CSPT had set floor fees at USD 95/mt and 9.5 cents/lb for Q4 2017.

China imported 9.552 million tonne copper ore and concentrates in the first six months, up 15.7% year on year, latest data from the General Administration of Customs showed.

Source : Platts

voda 27 juli 2018 08:46

China hoopt op oplossing fusie NXP-Qualcomm

Gepubliceerd op 27 jul 2018 om 07:20 | Views: 764

NXP Semiconductors NV 26 jul
92,81 -5,56 (-5,65%)

QUALCOMM 26 jul
63,58 +4,16 (+7,00%)

SHANGHAI (AFN/RTR) - China hoopt nog altijd op een oplossing voor de afgeketste overname van chipmaker NXP Semiconductors door de Amerikaanse branchegenoot Qualcomm. Vrijdag liet de toezichthouder in een verklaring weten dat de voorstellen van de twee bedrijven onvoldoende waren om de zorgen over de concurrentie weg te nemen. De financiële waakhond wil met beide partijen in gesprek blijven.

NXP en Qualcomm haalden donderdag een streep door de fusie van 44 miljard dollar toen ze niet voor de gestelde deadline goedkeuring van de Chinese toezichthouder kregen. Een reden voor de uitgebleven goedkeuring gaf Peking tot nu toe niet.

De overname werd in oktober 2016 aangekondigd. Bij de originele overeenkomst kwamen de bedrijven de deadline overeen waarbinnen toezichthouders hun fiat moesten uitspreken. Alle andere betrokken toezichthouders deden dat al wel. Qualcomm moet NXP nu 2 miljard dollar betalen als zogeheten 'break-up fee'.

voda 27 juli 2018 09:35

China's controversial steel rebate policy

Reuters reported that China, the world’s top steelmaking country, pays billions of yuan a year to exporters who sell higher quality steel products overseas, part of a policy launched almost a quarter of a century ago to encourage local mills to make value-added goods. But some Chinese exporters have for years taken advantage of the generous rebate system by mislabeling ordinary steel products as high-quality ones or by adding a small amount of minerals to claim them as steel alloys.China has tightened the tax rebate system in recent years, leading to sharp drops in steel exports, especially for alloyed steel, down to 75.4 million tonnes in 2017 from a record 112.4 million tonnes in 2015. China removed boron-added steel from the products eligible for rebates in 2015, but kept tax refunds intact for most other elements and products.

Still, Tan Ah Yong, secretary general of the Southeast Asia Iron and Steel Institute, said the rebates have been a longstanding issue with China. Mr Tan said that “We have been raising this issue for many years of (China’s) steel exporters taking advantage of loopholes in the tax and rebate structure to bring out steel products at low prices.”

Mr Tan said that most Chinese exporters have switched to chromium since then. That’s another element that can make steel valid for rebates, without raising the cost sharply for steel producers.

Both boron and chromium are used to harden steel, and adding just 0.3 percent of chromium can get a 5-13 percent tax rebate in China. Of the 75.4 million tonnes that China exported last year, 33.17 million tonnes were declared as alloy steel, data from China Iron and Steel Association showed. In 2016, 63.89 million tonnes were declared as alloy steel out of a total 108.46 million tonnes shipped. Using the maximum rebate of 13%, the refunds due Chinese exporters for 2017 would be USD 2.8 billion, according to Reuters calculations based on an average global steel price of USD 657 a tonne. In 2016, the rebates reached USD 4.6 billion.

Source : Reuters

voda 27 juli 2018 12:01

Chinese road projects improving locals lives in Africa

Xinhua reported that Yang Dong, a construction project manager for a Chinese company, returned to Africa on a new project in 2017, a few years after completing a water storage project that benefits thousands of residents in northern Kenya. Yang was posted with the project in Kenya by his firm China Wu Yi, headquartered in Fuzhou, southeast China's Fujian Province. He was responsible for the digging of water storage ponds along the under-construction Turbi-Moyale road that connects Kenya and Ethiopia.

The 130-km road traverses the savanna in north Kenya, which suffers from water shortages in the dry season, causing intermittent tribal clashes over access to water sources. Apart from providing more economic opportunities for the whole country, especially the underdeveloped north, the road has also changed the lives of thousands of residents. Yang's project was designed to supply water for construction needs, but they were soon surprised to find that their ponds were frequently visited by residents and their livestock. Yang recalled that in the beginning, when digging the ponds, he and his colleagues were visited, even threatened by some tribal elders escorted by men with knives and machetes, who were apprehensive of the workers' tools and the noise and dust they created. As more residents benefited from the project, the Chinese construction workers were welcomed with gifts. More ponds were dug to meet the needs of residents. Thanks to the ponds, tribal groups no longer instigate conflicts over limited water resources.

Yang became well-known in the region and was nicknamed "Mr. Think" because he always reminded his workers to think before doing anything, to think about what to do first, and how to work more efficiently. One day, Yang received six sheep as gifts from a resident. "I was really happy when they gave me the sheep. It means that my project has really benefited them and made their lives better."

More than 200 households have chosen to settle near the ponds, and herdsmen from Ethiopia cross the border to get water from the ponds, according to Wan Dongsheng, deputy general manager of China Wu Yi. The ponds will be able to provide water for residents for up to 10 years, even considering sediment accumulation, said Wan.

The firm invested 9.5 million yuan (1.4 million U.S. dollars) to dig 17 ponds along the Turbi-Moyale road, which can meet the need for water by 100,000 residents and 500,000 animals. The project began in 2012 and was completed in 2016. It is part of the Trans-Africa Highway, which runs from Cairo, Egypt to Cape Town, South Africa.

Source : Xinhua

voda 31 juli 2018 15:01

Chinese economie schakelt iets terug

(ABM FN) De groei van de Chinese industrie en dienstensector is afgenomen. Dit bleek dinsdag uit officiële cijfers van het Chinese nationale statistiekbureau.

De inkoopmanagersindex voor de industrie daalde van 51,5 in juni naar 51,2 in juli. Economen hadden gerekend op een stand van 51,3.

Tevens werd bekend dat ook de Chinese dienstensector in juli in een iets lager tempo groeide. De inkoopmanagersindex daalde van 55,0 in juni naar 54,0 afgelopen maand.

Een indexstand van meer dan 50 geeft aan dat er sprake is van groei, terwijl een cijfer beneden de 50 wijst op krimp.

Door: ABM Financial News.
pers@abmfn.be
Redactie: +32(0)78 486 481

© Copyright ABM Financial News B.V. All rights reserved

voda 31 juli 2018 15:54

China 'waterfall' skyscraper hit by torrent of ridicule - Report

AFP reported that a skyscraper in southwest China that boasts what its owner calls the world's largest man-made waterfall has become the latest example of over-the-top architecture to draw national ridicule. The tower in the city of Guiyang was built with a spectacular 108-meter (350-feet) cascade tumbling down its face - but cash flow could prove a problem for the ostentatious design. Although the Liebian International Building is not yet finished, the water feature was completed two years ago.

However it has only been turned on six times, with the owners blaming the high cost - 800 yuan ($120) per hour - of pumping water to the top of the 121-meter-high structure. Constructed by the Ludi Industry Group, the building will house a shopping mall, offices and a luxury hotel. Its signature artificial waterfall uses runoff, rainwater and groundwater collected in giant underground tanks.

The company said that the feature pays homage to the local region's rugged nature, but Chinese netizens have mocked the project as a waste of money. "If they could just turn it on once every few months, the company would save on cleaning windows," one user wrote on China's Twitter-like social network Weibo. China's rapid economic growth has been accompanied by a construction boom, often including outlandish buildings that are criticized as a waste of public or shareholder funds.

Source : AFP

Bijlage:

voda 31 juli 2018 15:58

Ghana parliament approves USD 2 billion tranche of Bawumia’s China joint venture

Ghana Web reported that a tranche of two billion dollars out of the 15 billion Ghana-China joint venture on Ghana’s bauxite reserves procured by the Akufo-Addo government under the aegis of Vice-President Dr Mahamudu Bawumia has been approved by parliament.

The full joint venture will see Ghana leverage less than 5% of its 460 Billion bauxite reserves in a partnership with the Chinese who are giving Ghana an amount of USD 15 billion over a period.

Ghana has 960 million metric tonnes of Bauxite reserves worth USD 460 billion. The New Patriotic Party government is keen to raise money to fulfil a long list of campaign promises.

Parliament today sat on the joint venture agreement and after ascrutiny careful, duly approved it.

In addition to the above, China Railway International Group Limited signed a Memorandum of Understanding with government, to provide USD 10 billion grant to support the components of a massive infrastructure development programme spanning the mining, industrial and railway.

Vice President Dr Bawumia outlined infrastructural projects government intends to use the cash expected from China for.

In notes he presented at Africa-China Joint Research and Exchange program in Accra, covered by MyNewsGH.com, Dr Bawumia named 20 categories of investments the government has planned to use the money for and the breakdown.

A grant of about RMB100 million for infrastructure development-to be used to acquire about 500 vehicles for the police. RMB 50 million for the Ghana Armed Forces- 4 patrol boats for the Ghana Navy. Fund construction of 90 bridges across the country. Fund construction of Interchange at ‘Point 7’ in Tamale. This would be the first ever interchange in northern Ghana. Build a new Accra Psychiatric Hospital.

Dr Bawumia had revealed that a major part of the conversation in China was the Integrated Aluminium Industry development. This involves development of the Nyinahin and Kyebi Bauxite Mines and an Aluminium Refinery.

Construction of the Eastern, and Central Rail Lines including its extension to Paga in the north of the country, the Boankra, Buipe Inland Ports and Paga inland terminal, 910 km of road network.

Ten industrial parks in 10 regions, 25,000 houses for the security services, 100,000 social housing units, 25 district hospitals, Western Regional Hospital, Reconstruction and Rehabilitation of 8,286 collapsing classrooms, upgrading 42 SHSs into model schools, Teaching and Learning Materials, 228 Buses and 198 Pickup trucks for schools, Irrigation and water transmission systems in northern Ghana.

Source : Ghana Web

voda 31 juli 2018 16:02

World’s largest container vessels under construction in Shanghai - Report

China Daily reported that construction of two container ships with the carrying capacity of 22,000 TEUs, which would make them the largest container vessels in the world, began. The two are among nine 22,000 TEU vessels deal signed by French container shipping operator CMA CGM and China State Shipbuilding Corporation (CSSC) in September last year.

Built by Shanghai-based Jiangnan Shipyard and Hudong-Zhonghua Shipbuilding, the two container vessels measure 400 meters in length, 61.3 meters in breadth and 33.5 meters in depth. The deadweight of the box ship is 220,000 DWT, which can contain 1,000,000,000 iPhoneX (with standard packing box). Moreover, it can still hold 2,200 4-foot refrigerated containers, accounting 20 percent of the whole TEU.

Besides, they are also the world’s first giant container ships propelling with engines burning liquefied natural gas, a technology breakthrough for environmental protection. They have distinctive advantages compared to the current ships using heavy fuel oil: Up to 25 percent less CO2, 99 percent less sulphur emissions, 99 percent less fine particles and 85 percent nitrogen oxides emissions.

Source : ChinaDaily

Bijlage:

voda 31 juli 2018 16:03

China transport sector records boom in freight, investment in H1 2018
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China Daily reported that China transported 23.21 billion tons of freight in the H1 of the year, up 6.9 percent year-on-year, according to the Ministry of Transport on July 26. Ports above scale handled 6.54 billion tons of cargo during the same period of time, an increase of 2.4 percent. Fixed assets investment in the transport industry totaled CNY 1.33 trillion, similar to that of the last year. Mao Jian, deputy inspector of the comprehensive planning department at the ministry said that freight transport volume growth rose 7.4 percent in the second quarter, indicating booming demand of cargo transport.

Railway completed 1.96 billion tons of freight transportation in the first six months, up 7.7 percent, with coal transport taking up 80 percent of total increase.

Mao said that the whole country handled 22.08 billion pieces of express deliveries in the first half, jumping 27.5 percent compared with that of last year. Express delivery service volume has maintained a growth of over 25 percent in nine consecutive years.

Energy and container transport accounted for large volume of port capacity, while that of iron ore and mineral building materials saw a drop.

According to the ministry, the country invested CNY 980.6 billion in highway and waterway construction during the Jan to June period, an increase of 1.4 percent compared with same period in 2017, and completed 54.5 percent of the whole year target of CNY 1.8 trillion.

Source : China Daily

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