CHINA UPDATE


1. The China-built Makkah Metro, the first dual-track light railway in Saudi Arabia, opened on Nov. 11, aiming to ease the pilgrim traffic during the Hajj. The $1.8-billion-railway is the first cooperation project between China and Saudi Arabia after the two countries signed an agreement in June 2008 to enhance cooperation on infrastructure construction. It is also the first light rail system built by Chinese companies in the Middle East.

2. China National Petroleum Corp (CNPC) signed a strategic cooperation agreement with China Resources Group Co (CRC). The two companies pledged to become partners in city gas supply, oil distribution, gas-powered electricity generation, engineering construction and overseas investment projects, according to the agreement.

3. Multinational conglomerate General Electric (GE) said it will invest more than $2 billion through 2012 in China to set up joint ventures with Chinese companies and expand its innovative capacity in the country.

4. The country’s first experimental zone for electric vehicles in Shantou is playing a pivotal role in boosting China’s green automobile industry.

5. China’s exports rose 22.9 percent in October from a year earlier, while imports increased 25.3 percent. China’s trade surplus expanded to $27.1 billion last month. Exports and imports totaled $244.81 billion last month.

6. Auto sales in China grew 34.76 percent from a year earlier to 14.68 million units in the first 10 months of the year, exceeding the total number of vehicles sold last year, the China Association of Automobile Manufacturers (CAAM) said.

7. China’s three major nuclear power companies have all embarked on their listing plans as the country sees accelerated growth in the development of the clean energy, said industry sources.

8. Hebei Province plans to build the special economic circle around Beijing. It will include three new cities: Jingdong, Jingnan, Jingbei. The government will provide preferential policies which will be more beneficial than Shenzhen Special Economic Circle.

9. New energy related industries will be the main contributor to growth in copper consumption during the next five years, according to the International Copper Association.

10. China’s Ministry of Housing and Urban Rural Development announced Monday that purchases of housing by overseas organizations and individuals in the country would be capped or restricted, a move widely seen as combating speculative money from overseas that might flow into the property market.

11. China’s top offshore oil producer CNOOC Ltd and Chesapeake Energy Corp announced the completion of the Eagle Ford Shale project deal in the United States.

12. Nearly three-quarters of Chinese entrepreneurs considered the rising costs of labor and raw materials as their biggest challenge both at present and in the future, according to a survey among more than 4,000 managers.

13. China’s largest electricity provider, Huaneng Power International said on Thursday it had won approval for the first phase of a wind power plant in the north of the country. The company will invest 495 million yuan ($74.53 million) in the plant, Huaneng said in a statement filed with the Shanghai stock exchange.

14. Huawei Technologies Co, China’s biggest telecommunications-equipment maker, forecast it will beat Ericsson AB to become the top producer of gear for the next generation of mobile-phone networks.

15. Toyota will invest nearly $700 million in its first fully-fledged research and development (R&D) base in China, AFP reported. Toyota Motor Engineering & Manufacturing (China) Co Ltd plans to build the R&D base at an economic development zone in Changshu, near Shanghai in East China, the report said.

 

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About braies

Im a project manager for construction , I have an international Experience in 3 projects . I believe the saying " if you want to be the beast go with the beast ".
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