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voda 18 april 2018 14:29

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Chinese thermal coal futures rally on tight import policy

Reuters reported that China’s most active thermal coal futures jumped 2.9 % on 16 April, marking the biggest gain since August 2017, as concerns of tightening the import policy dampened outlook for foreign coal supplies ahead of summer. Coal futures prices ended at 570 yuan per tonne after touching a two-week high of 578.8 yuan per tonne earlier in the session.

Futures rallied as traders took cues from a wider ban on coal imports after some ports in Fujian province put a temporary halt on them.

A manager with a coal trading company in Hangzhou, Zhejiang said that “Our company received instructions that Chuanshan anchorage under Ningbo port has banned docking by any vessel, which carries foreign coal supplies.”

The Zhoushan port near Shanghai only allowed 2-3 coal ships to dock, reflecting tighter scrutiny of foreign supplies, the manager added.

Officials with Ningbo port and Zhoushan port could not be reached for comments.

A coal futures trader said that “Market is playing catch-up today after news came out over the weekend that at least three provinces are considering curbing coal imports.”

Traders and analysts said curbs on foreign supplies could help lift domestic coal prices.

Thermal coal has plunged almost 20 percent from a record high of 681 yuan in January, with major utilities and steel mills reporting high inventories.

Source : Reuters

voda 18 april 2018 14:57

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China to build 525 MW hydropower station

China plans to build a 525 MW hydropower station on the Wujiang River, a tributary of the Yangtze River, in southwest China's Chongqing Municipality. The Baima project, the last of a cascade of hydropower stations on the section of the Wujiang River in Chongqing, has gotten the green light from the National Development and Reform Commission, China's state planning agency.

Chongqing Municipal Commission of Development and Reform said that the project, in Baima township of Wulong District, is expected to involve an investment of 10.2 billion yuan (1.6 billion U.S. dollars), it said. With a power-generating capacity of 525 MW, it is expected to generate 1.76 billion kwh of electricity a year, and help improve the shipping service along the Wujiang River.

More than 5,000 local residents will be relocated to make room for the project.

Source : Strategic Research Institute

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voda 19 april 2018 16:37

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China wil meer concessies bij overname NXP

Gepubliceerd op 19 apr 2018 om 14:14 | Views: 511

NXP Semiconductors N.V. 18 apr
112,99 -0,17 (-0,15%)

PEKING (AFN/BLOOMBERG) - De Chinese autoriteiten willen meer concessies van het Amerikaanse chipbedrijf Qualcomm voordat goedkeuring wordt gegeven aan de overname van de Nederlandse branchegenoot NXP Semiconductors. China vreest dat de overname negatieve gevolgen kan hebben voor eigen bedrijven en de technologiemarkt onder meer vanwege de patenten die het gecombineerde bedrijf zou bezitten.

Bronnen hadden eerder al gemeld dat de Chinese overheid meer bescherming wil voor lokale bedrijven voordat groen licht wordt gegeven aan de deal. Volgens het Chinese ministerie van Handel trok Qualcomm eerder deze week zijn verzoek tot goedkeuring in en werd een herzien voorstel ingediend. Dit zal de komende tijd worden bestudeerd.

Oorspronkelijk was het de bedoeling de overname ter waarde van meer dan 40 miljard dollar eind 2017 af te ronden. De deadline voor afronding van de deal is nu opgeschoven tot 25 juli. Als er dan nog geen groen licht is uit China dan zal Qualcomm een betaling van 2 miljard dollar doen aan NXP, zoals eerder was afgesproken.

voda 19 april 2018 20:43

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Chinese Futures Firm to Launch Commodity Futures Using Horizon’s Platform

Financial Magnates reported that Holly Futures has chosen the platform provided by Horizon Software, a provider of electronic and algorithmic trading solutions and technology, to launch iron ore and grain futures contracts at Dalian Commodity Exchange. The Jiangsu Province-based futures company is one of the large-scale futures providers in China and is also approved by the China Securities Regulatory Commission. It is the lone company in the Jiangsu Province which received a Class A rating for seven consecutive years.

Mentioning the prospect of the new futures and the partnership with Horizon Software, Holly Futures’ General manager of Options Department, Ma Dongdong, commented that “We have been preparing to enter the iron ore and corn futures market through the Dalian Commodity Exchange and have done a lot of detailed research on different trading solutions. Horizon Software, because it has partnerships with many stock exchanges in China and is widely used throughout the world, gives us confidence that its services can easily adapt to our specific requirements. Horizon’s extensive functionality and its platform’s outstanding stability and security have left a deep impression on us, and all of these are extremely important for market makers to provide high-quality, high-efficiency services.”

Mr Dongdong added that “At the same time, we are looking forward to the Shanghai Futures Exchange. And Zhengzhou Commodity Exchange expands our business in making options in the market. We are very grateful to the Horizon team because it provided us with a lot of professional services during the establishment of our market making business.”

Horizon Software is expanding its business in China at a steady pace. Earlier this year, it announced its partnership with Shenyin Wanguo Futures’ subsidiary company Shenyin Wanguo Fortune Investment Ltd.

Mr Adrien Mastronardi, Horizon’s sales director for North Asia, said that “Over the years we have been providing solutions for China’s futures exchanges for derivative market making and trading, and is now with one of China’s most successful futures exchanges, Holly. We are very pleased to cooperate with futures.”Mr Mastronardi said that “To help these exchanges realize futures market, we have been working closely with them to prepare for them and it is really enjoyable to do business with highly specialized teams. It is our pride to rank among the leading solution providers in China’s first batch of market makers.”

Moreover, due to the massive world adaption of cryptocurrencies, the fintech firm also jumped into the sector by introducing cryptocurrency trading through its own native gateway in January this year, which connects several of the largest crypto exchanges, including Kraken, Bitstamp, Bitfinex, and GDAX?.

Mr Mastronardi added that “Providing cutting-edge technologies to meet customer needs and providing excellent support to help customers get exactly what they need through our system, this is our goal and has never changed; we look forward to helping us this one New customers reach their business goals.”

Source : Financial Magnates

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voda 19 april 2018 20:53

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China to open the world’s longest sea bridge - Report

The Urban Developer reported that the world’s longest sea bridge is about to open to traffic after a nearly eight-year construction period dogged by delays, budget overruns, crew deaths and accusations of corruption. The 55-kilometre bridge and tunnel project links the two special administrative regions of Hong Kong and Macau with the mainland, heavily reducing travel time and bringing together up to 60 million people into a metropolis-style economy.

The Hong Kong-Zhuhai-Macau Bridge is expected to be used by 40,000 vehicles on a daily basis. It is expected to last 120 years and reduce the travel time by 60 per cent.

A number of engineering challenges have had to be overcome including a soft and deep seabed which resulted in engineers having to drive more than 100 huge steel cylinders in to the sandy bottom which formed the foundations for two artificial islands.

‘The most challenging engineering project in the world’
The highway becomes an undersea tunnel for more than six kilometres which was designed so that vital sea transport would not be impeded.

Hong Kong International Airport’s flight path cuts right across the bridge which meant that engineers had to content with height restrictions. The white dolphin population brought environmental concerns in regard to the effects of dredging.

Mr Gao Xinglin, the bridge’s project planning manager, said the construction of the 6.7-kilometre underwater tunnel gave him sleepless nights. “There were many nights where I couldn’t fall asleep, because there were too many difficulties during the construction,” Gao said to reporters.

Mr Gao said that “Linking the 80,000-tonne pipes under the sea with watertight technology was the most challenging.”

However, tore than 14,000 workers were engaged at the peak of construction and 300 ships on a bridge that has been designed to overcome earthquakes and typhoons.

Source : The Urban Developer

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voda 19 april 2018 20:57

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China property investment rises 10.4pct YoY in Q1

Reuters reported that real estate investment in China rose 10.4 percent in the first quarter from a year earlier as the pace of new construction sped up, while property sales slowed in the face of intensified government cooling measures. The pace of investment growth accelerated from 9.9 percent in the first two months of 2018, the National Bureau of Statistics (NBS) said.

However, it also marked a quickening from 9.1 percent in the first quarter of 2017, according to the NBS.

The NBS data showed that new construction starts measured by floor area were up 9.7 percent in the first three months of the year, compared with a 2.9 percent rise in first two months.

Meanwhile, property sales measured by floor area grew 3.6 percent in January-March from the same period a year earlier, down from 4.1 percent in the first two months of the year.

Source : Reuters

voda 19 april 2018 22:26

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China shale gas output to nearly double over 3 years - Consultancy

Reuters reported that China's shale gas production will likely reach 17 billion cubic metres (bcm) in 2020, nearly double the 2017 level, as local oil companies make big progress with drilling technology and cost cutting, consultancy Wood Mackenzie said. Nearly 700 new wells will come onstream between 2018 and 2020 at three key projects - Sinopec's Fuling, and PetroChina's Changning-Weiyuan and Zhaotong - all located in the country's southwest, and at a total cost of USD 5.5 billion, Woodmac estimated.

The forecast 17 bcm of output in 2020 falls short of Beijing's goal of 30 bcm, which was slashed by more than half from the government's initial target set in 2012. That means the world's No.3 gas user will need to keep its imports of liquefied natural gas (LNG) at elevated levels. Woodmac has separately forecast China's LNG imports will increase by a quarter to nearly 49 million tonnes this year, from record highs in 2017.

China produced 9 bcm of shale gas last year, or 6 percent of its total gas output.

Wood Mackenzie's Tingyun Yang, said that "China is eager to materialise its shale gas potential to fuel its massive gasification initiative and support rising demand growth."

Despite estimates that China is home to the world's largest recoverable shale gas resource, its shale formations tend to be deeper, more fractured and located in densely populated mountainous terrains, leading to higher costs and complications in drilling.

However, state firms have managed to reduce well costs significantly - by 40 percent for exploration wells versus 2010 and 25 percent for commercial wells versus 2014 - by deploying local service companies, home-manufactured equipment and improving drilling technologies, said Yang.

Source : Reuters

voda 20 april 2018 16:30

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US Commerce finds aluminium sheet imports from China subsidized

Straits Times reported that the US Commerce Department has said it has made a preliminary determination that common alloy aluminium sheet imports from China are being subsidised, and set countervailing duties of up to 113 %. The department said in a statement that imports of common alloy aluminium sheets from China were valued at an estimated USD 600 million (SGD 786 milion) in 2016. A final determination in the countervailing duty investigation is to be announced on Aug 30.

The Aluminium Association, a US trade group, welcomed the decision. The group's president Heidi Brock said in a statement that "This is an important first step to begin restoring a level playing field for US aluminium sheet production."

The department's preliminary finding comes as United States President Donald Trump has threatened to slap tariffs on some USD 150 billion of Chinese goods to try to force changes in China's industrial policies.

The Commerce Department launched the investigation of imports of Chinese aluminium alloy sheet in November, the first US initiated anti subsidy and anti dumping probes in decades.

Washington's seldom used tactic is aimed at accelerating the imposition of duties against what are determined to be unfairly subsidised and dumped products. US companies and industries claiming injury from imports would normally first ask the Commerce Department to open such probes, but government-initiated cases skip that step.

The department said it calculated a preliminary subsidy rate of 31.2 % for Yong Jie New Material Co; a rate of 34.99 % for Henan Mingtai Industrial Co and Zhengzhou Mingtai Industry Co; and a rate of 113.30 % for Chalco Ruimin Co and Chalco-SWA Cold Rolling Co.

The preliminary subsidy rate for all other Chinese producers and exporters is 33.1 %.

Source : Straits Times

voda 20 april 2018 17:06

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Chinese companies tapping into Serbia's construction market potential - Report

Xinhua reported that an annual international building and trade fair opened, hosting more than 20 Chinese manufacturers of building materials, tools and machines, looking to extend their business to Serbia and the region. The 44th edition of the Building and Trade Fair offered a diverse exhibition in the area of construction industry with more than 600 companies from 27 countries and regions, and China was for the second year in a row represented with a separate pavilion.

The fair was opened by Serbian construction minister Zorana Mihajlovic who said in her keynote speech that the exhibition was a true reflection of the growing Serbian economy.

She said that "With progress and growth of the economy we can mark an increasing number of exhibitors here at the construction fair, while Serbia looks completely different than five years ago when it comes to the economy."

Many of the Chinese companies are here for the first time, trying to establish cooperation with local partners, or surveying whether the demand in the regional market warrants opening their own distribution center or a branch office in Serbia in order to extend their business to this part of Europe.

Such is the story of Rocky Chan, representative of Xinhu Aluminium, one of the top aluminum extruders in China.

Chan said that his company was at the fair for the first time to test the market potential. "This market is new to us. In past, our major markets were in Russia and Poland, but now we set to expand, and we are looking for new markets," he told Xinhua. Chan said he hopes to make sales in the Serbian and regional markets, find local partners and distributors, but also open a distribution center in Serbia.

For Betty Zhang, however, this is a second participation here. She represents Expo-Linking agency that organizes the joint participation of several manufacturers of stone products, machines, and tools. She told Xinhua that companies were satisfied with the potentials of local market.

She added that "We think that Serbia is a new market for stone products. We had good sales last year and found new partners, so we decided to attend this fair again."

Source : Xinhua

voda 20 april 2018 17:07

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Croatia set for bridge contract with Chinese consortium - Mr Butkovic

Xinhua reported that Croatia will sign a contract with a Chinese consortium on the construction of the Peljesac Bridge on April 23, Croatian Minister of Sea, Transport and Infrastructure Mr Oleg Butkovic confirmed. Mr Butkovic told Xinhua that the construction of the bridge would begin immediately, despite the appeal submitted to court on Monday by the competitors, who attempted for the second time since January to challenge Croatian authority's decision of awarding the project to the Chinese bidder.

A Chinese consortium led by China Road and Bridge Corporation won the bid for the construction of the first phase of the bridge and its access roads in January, when local road operator Harvatske Ceste (Croatian Roads) decided the Chinese offer was better than the ones from Austrian construction firm Strabag and an Italian-Turkish consortium.

The decision was challenged days later by the competitors who accused the winner of offering "dumping prices" and enjoying "state aids".

The appeals of the other bidders delayed the whole procedure and were rejected by Croatia's State Commission for Control of Public Procurement Procedure (DKOM) in late March for lack of evidence. DKOM decided that the Chinese consortium had fulfilled all technical conditions for the project and that the price claims in the appeal were not accurate.

The Chinese consortium will begin preparations immediately, but it will take some time until the construction site is organized, according to Butkovic.

He said that "All things have been put to an end for us, and as far as Strabag's appeal is concerned, we will see how the court proceeds."

The Peljesac Bridge, with an estimated value of over 400 million euros (485 million U.S. dollars), is one of the most strategic infrastructure projects in Croatia. EU fund will cover 85 percent of the total cost.

Source : Xinhua

voda 20 april 2018 17:08

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Chinese-built electricity poles plant inaugurated in South Sudan

Xinhua reported that the South Sudan government has launched a factory producing concrete poles that will facilitate an ambitious project done by a Chinese company to rehabilitate and expand the Power Distribution System in Juba, its capital. The Minister of Dams and Electricity, Mr Dhieu Mathok, said that the factory, rented by Power China, will produce some 13,350 poles for the electricity distribution in the capital and other states.

Mr Mathok said during the inauguration of the plant along the Yei road in Juba "The main objective of this project is to increase the supply capacity and reliability of the power distribution system in Juba. Access to the grid will replace the use of generators by the population, allow supply of energy at more affordable price and, hence contribute toward economic growth and poverty eradication in South Sudan."

He disclosed that it will help solve the problem associated with non-availability of concrete poles for the project and to mitigate the risk of importing poles from other countries.

He said that "This factory will create positive impact on the construction of the national grid in South Sudan. It is owned by South Sudanese business people but currently it has been taken over by Power China for a brief period of one year."

However, South Sudan is largely generator driven economy with continued electricity blackout in the wake of the collapse of the generator power plant operated by the South Sudan Electricity Corporation (SSEC) in 2013.

Mr Wang Cun, an official with Power China said that they got the contract to build the electricity project in June 2016 and that they will continue to support South Sudanese staff with skills and knowledge and also work with the government on several major power projects.

Mr Wang said that "We have achieved much from these projects and we also suffered much from the instability and continuous conflicts all these years, but we confirm and believe the year of 2018 will be a year of peace and development in South Sudan," adding that the company has been operating in South Sudan since 2009.

He disclosed that Power China has conducted several projects before South Sudan won independence from Sudan in 2011 such as the peace road project from Renk to Malakal, Maridi water plant and Malakal municipal road projects.

Mr Wang said they will immediately reorganize all necessary resources to increase post-production capacity and immediately shall commence the erection of these poles to all corners of Juba city and start the distribution.

He said tha t"We shall do as we did before to recruit more local technicians, engineers and laborers during the construction period, so that they are there in place for similar projects in the near future. We shall make more efforts to improve these local staffs' working environment and to realize sustainable development of Power China and Sino-hydro in South Sudan."

Source : Xinhua

voda 20 april 2018 17:12

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Chinese workers construct super-tall towers at staggering speed - Report

Daily Mail reported that China built more than half of the skyscrapers in the world last year, and it has no plan to slow its rapid urbanisation. But how do its workers build sky-high towers so quickly? A recent documentary has revealed the nation's secret weapon: a mighty skyscraper-building machine dubbed 'wall-climbing monster'.

The humongous building machine weighs 2,000 tonnes and is developed by Chinese engineers. It provides a platform for workers to construct the building upwards, and can remain steady even at over 500 metres (1,640 feet) above the ground, according to a programme by China's state broadcaster CCTV.

It's also said the self-supporting platform can bear a weight of up to 2,000 tonnes and even withstand hurricane force.

CCTV claimed the machine, developed by the country's own engineers, could speed up the building process by 20 per cent.

With the help two tracks on each side and a total of 12 hydraulic jacks, the machine can push itself up evenly once workers finished building the several stories above - to create a new and higher working platform.

Each of the pivot points on the tracks can up to 400 tonnes in weight, an engineer told CCTV.

The machine is currently being used to build Wuhan Greenland Center in the provincial capital of Hubei. The GBP 3.3 billion 119-storey skyscraper is set to be complete by the end of 2018.

Source : Daily Mail

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voda 20 april 2018 17:19

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US Department of Commerce initiates AD and CVD investigations of imports of certain steel wheels from China

US Secretary of Commerce Wilbur Ross announced the initiation of new antidumping duty (AD) and countervailing duty (CVD) investigations to determine whether certain steel wheels from China are being dumped in the United States and if producers in China are receiving unfair subsidies. “When a trade case is initiated it begins an open and transparent process that allows American companies, workers, and communities to gain relief from the market-distorting effects of injurious dumping and subsidization of imports,” said Secretary Ross. “The Department will act swiftly, while completing a full and fair assessment of the facts, to ensure that U.S. businesses and workers have a fair chance to compete.”

These AD and CVD investigations were initiated based on petitions filed by Accuride Corporation (Evansville, IN) and Maxion Wheels Akron LLC (Akron, OH) on March 27, 2018. The alleged dumping margins range from 12.1 – 231.7 percent. There are 56 subsidy programs alleged.

In the AD investigation, Commerce will determine whether imports of certain steel wheels from China are being dumped in the U.S. market at less than fair value.

In the CVD investigation, Commerce will determine whether Chinese producers of certain steel wheels are receiving unfair government subsidies.

However, if Commerce makes affirmative findings in these investigations, and if the US International Trade Commission (ITC) determines that dumped and/or unfairly subsidized US imports of certain steel wheels from China are causing injury to the US industry, Commerce will impose duties on those imports in the amount of dumping and/or unfair subsidization found to exist.

In 2017, US imports of certain steel wheels from China were valued at an estimated USD 388 million.

Next Steps:
During Commerce’s investigations into whether certain steel wheels from China are being dumped and/or unfairly subsidized, the ITC will conduct its own investigations into whether the U.S. industry and its workforce are being harmed by such imports. The ITC will make its preliminary determinations on or before May 11, 2018. If the ITC preliminarily determines that there is injury or threat of injury, then Commerce’s investigations will continue, with the preliminary CVD determination scheduled for June 20, 2018, and preliminary AD determination scheduled for September 4, 2018, unless these deadlines are extended.

If Commerce preliminarily determines that dumping and/or unfair subsidization is occurring, then it will instruct US Customs and Border Protection to start collecting cash deposits from all US companies importing certain steel wheels from China.

Final determinations by Commerce in these cases are scheduled for September 4, 2018, for the CVD investigation, and November 19, 2018, for the AD investigation, but those dates may be extended. If Commerce finds that products are not being dumped or unfairly subsidized, or the ITC finds in its final determinations there is no harm to the U.S. industry, then the investigations will be terminated and no duties will be applied.

Enforcement of US trade law is a prime focus of the Trump administration. Commerce has initiated 106 new antidumping and countervailing duty investigations in the first 452 days of the Trump administration. This is 66 percent more than the 64 initiations in the last 452 days of the previous administration.

The AD and CVD laws provide US businesses and workers with an internationally accepted mechanism to seek relief from the harmful effects of unfair pricing of imports into the United States. Commerce currently maintains 428 antidumping and countervailing duty orders which provide relief to American companies and industries impacted by unfair trade.

The US Department of Commerce’s Enforcement and Compliance unit within the International Trade Administration is responsible for vigorously enforcing the U.S. trade laws and does so through an impartial, transparent process that abides by international rules and is based solely on factual evidence.

Foreign companies that price their products in the US market below the cost of production or below prices in their home markets are subject to “antidumping” duties. Companies that receive unfair subsidies from their governments, such as grants, loans, equity infusions, tax breaks or production inputs, are subject to “countervailing duties” aimed at directly countering those subsidies.

Source : Strategic Research Institute

voda 20 april 2018 19:22

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Innovatief Chinees automerk wil de wereld veroveren

China is een nieuw automerk rijker, dat de wereld moet gaan veroveren. Het merk heeft daartoe allerlei topmensen uit de Europese auto-industrie aangetrokken. De opmerkelijke Byton Concept werd deze week onthuld in Milaan.

Erik Kouwenhoven 20-04-18, 07:20 Laatste update: 08:04
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De Byton is een SUV die vooral van opzij en aan de achterzijde wel wat weg heeft een Range Rover. De indrukwekkend ogende auto heet weliswaar simpelweg Concept, maar is al voor 85 procent productieklaar. De auto maakte zijn Europese debuut op de Design week in Milaan. Aan het hoofd van Byton staan Carsten Breitfeld en Benoit Jabob, beiden zijn werkzaam geweest voor BMW i. Ook de marketingbaas komt bij BMW i vandaan. De technische ontwikkeling wordt gedaan door David Twohig, die afkomstig is van Alpine.

© Byton
500 kilometer
Hoe mooi de buitenkant ook is, voor Byton is het bijzaak. Het gaat bij de auto in de eerste plaats om het bieden van een aangename verblijfsruimte. Het dashboard bestaat uit een groot scherm. Die tonen niet alleen de snelheid en navigatie, maar ook beelden van de camera's die de achteruitkijkspiegel en de zijspiegels vervangen. Voor de bijrijder biedt het scherm entertainment, zoals het kijken van video's of het spelen van computergames. De Byton heeft gezichtsherkenning, waarmee automatisch persoonlijke voorkeuren worden geladen. De auto is ook al klaar voor zelfstandig rijden en is voorzien van twee elektromotoren, die samen 400 pk sterk zijn. De auto krijgt een actieradius van ongeveer 500 kilometer en wordt volgend jaar gelanceerd in China. Een jaar later volgt de introductie in Europa.

Voor afbeeldingen, zie link:

www.ad.nl/auto/innovatief-chinees-aut...

voda 23 april 2018 16:38

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'Tencent Music overweegt beursgang'

Gepubliceerd op 23 apr 2018 om 06:59 | Views: 571

PEKING (AFN) - Tencent Music Entertainment, het grootste muziekstreamingbedrijf van China, overweegt een gang naar de beurs. Dat meldde zakenkrant The Wall Street Journal maandag op basis van ingewijden.

De beursgang zou in de tweede helft van het jaar plaatsvinden en volgens de kenners een van de grootste ooit van een technologiebedrijf zijn. Tencent Music Entertainment wil naar verluidt meeliften op het succesvolle beursdebuut van muziekstreamingsdienst Spotify.

Tencent Music Entertainment is onderdeel van de Chinese technologiegigant Tencent, dat een meerderheidsbelang bezit.

voda 23 april 2018 17:01

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EU extends anti dumping duties on Chinese steel ropes
Steel News - Published on Mon, 23 Apr 2018

European Commission on April 20th 2018 extended anti dumping duties on steel ropes and cables from China for another five years. In a statement, the commission said that anti-dumping duties of 60.4 percent have been in place since 1999 and this was the third expiry review, extending measures at the same level for a further five years. It added the products consigned from Morocco and the Republic of Korea were also subject to these duties.

It said that "The expiry review investigation found evidence that dumping from Chinese companies would continue should measures be allowed to lapse, which would have a negative financial impact on the EU steel industry.”

The commission said that "The global surplus in steelmaking capacity has driven down steel prices to unsustainable levels in recent years and had a damaging impact on the steel sector, as well as related industries and jobs.”

It added the EU uses full potential of its trade defense toolbox to ensure a level-playing-field for its producers and their ability to maintain jobs in the sector.

Source : Strategic Research Institute

voda 23 april 2018 22:10

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Chinese oil imports near record levels in March 2018

China’s crude oil imports surged on a daily basis to their second highest level in March, government data showed on April 13. A renewed push to fill strategic petroleum reserves (SPRs) could drive imports even higher later this year, despite maintenance capping demand in the shorter term. In March, China imported 39.17 million tonnes (9.26 million bpd) of crude oil, according to General Administration of Customs (GAC) data. This was just below January’s record 9.61 million bpd and up by almost 10% on the 8.44 million bpd imported in February.

For the first quarter as a whole – which is considered a more reliable measure of Chinese demand than its individual component months, given that movements in the Chinese Lunar New Year holiday can distort year-on-year comparisons – China’s crude oil imports gained 7% on the previous year to reach 112.07 million tonnes (9.13 million bpd).

Independent refiners were widely seen as behind much of the first-quarter growth in imports, on the back of improved government quotas. Some estimates point to the teapots’ imports rising by as much as 30% year on year in the period.

PetroChina’s newly commissioned Yunnan refinery and China National Offshore Oil Corp’s (CNOOC) new Huizhou plant also boosted demand, as did commissioning of the expanded East Siberia-Pacific Ocean (ESPO) pipeline.

And while China’s shift into peak refinery period – with a raft of state-owned and independent plants scheduled to close temporarily for overhauls – should keep a lid on imports in the next couple of months, the country’s demand outlook looks stronger for the rest of the year.

The International Energy Agency (IEA) predicted on April 13 that China would expand purchases of crude for its SPR by nearly 30% this year, helping to compensate for technical problems that forced it to slow buying in 2017.

The agency expects China to inject 34.5 million barrels (94,500 bpd) of crude into its SPR this year – up by around 28% from 27 million barrels (74,000 bpd) in 2017.

Source : Strategic Research Institute

voda 24 april 2018 16:22

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China stockpiles alumina for export as supply crunch drives record prices

The Star reported that Chinese traders are preparing to export alumina to reap the profits from record prices for spot cargoes after the United States imposed sanctions on Russia's United Company Rusal, among the biggest producers of the aluminium raw material. China is the world's the biggest producer and consumer of alumina, a compound extracted from bauxite ore that is then smelted into aluminium metal.

The Rusal sanctions have upended the aluminium supply chain, as companies cut contracts to use Rusal metal, leaving producers of cans or auto parts scrambling for supplies, which is likely to feed into higher costs for end users such as automakers, like Toyota, or beer can makers like Ball. Rusal, the world's second-biggest aluminium producer, produces about 6 percent of the global alumina supply and the sanctions have exacerbated a shortfall in the market after a plant in Brazil was forced to halve output earlier in the year.

A logistics source with operations in China confirmed trading houses were preparing alumina for export. "It hasn't been exported yet. It's being stockpiled for export" the source said.

Exports in April may remain small but they could increase to between 120,000 to 180,000 tonnes for May, said Wan Ling, an analyst at metals consultancy CRU.

Mr Wan said that "There are signs that China will start exporting alumina." Mr Wan added that "Because the arbitrage is quite big, some trading houses in China have started to export alumina from ports in China, from bonded warehouses and from alumina refineries, from some ports in Shandong province and from Guangxi Province."

Aluminium makers with alumina refineries in Shandong include a plant in Zibo owned by Aluminium Corp of China, or Chalco, a China Hongqiao Ltd refinery in Binzhou and a refinery operated by Chiping Xinfa Huayu Alumina Co in Liaocheng. All three companies did not immediately respond to requests for comment.

The Chinese companies are hoping to cash in on surging alumina prices. An alumina cargo bound for Brazil for May delivery sold at USD 800 per tonne on Wednesday, said Wan.

This is a 45 % increase from USD 550 a tonne for Australian cargoes that was reported on Wednesday. A typical alumina shipment carries 30,000 tonnes of metal.

Mr Wan said that "We have never seen these prices before. Prices may stay strong or go higher."

Source : The Star

haas 24 april 2018 21:55

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De VS wil een gebalanceerde handel met andere landen, maar alleen op die vlakken waar de VS op achterstand staat. Daar waar de VS een handelsoverschot heeft, is ze niet bereid tot concessies.

Bedenk u dat even voordat u Trump gelijk geeft dat hij een balans nastreeft.

Overigens is het handelstekort met China verder aan het toenemen. Alle streven van Trump ten spijt.

voda 25 april 2018 17:03

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China to complete testing of Winter Olympics high speed train by mid 2019

Xinhua reported that China will complete the testing of high-speed trains that will run on a new line linking Beijing and Zhangjiakou, co hosts of the 2022 Winter Olympics, by the first half of next year.

A prototype of the trains will be manufactured and assembled by the end of this year, said He Huawu, technical advisor to the general manager of China Railway Corporation and member of the Chinese Academy of Engineering.

The Olympic trains will be based on the Fuxing bullet train design, but new technology will make them smarter and greener.

Construction of the Beijing-Zhangjiakou line is underway and running smoothly, according to China Railway Corporation.

The route is considered historically significant as the Beijing-Zhangjiakou railway, China's first independently-built railway,opened to traffic in 1909.

Source : Xinhua

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