News

China's transport investment remains stable in Jan-Oct

Date Nov 27 2018 11:39:17 Source:Xinhua

China's fixed-asset investment (FAI) in transport posted steady growth in the first 10 months of this year, the country's transport ministry said Monday.

FAI increased 0.7 percent year on year to reach 2.6 trillion yuan (about 375 billion U.S. dollars) in transport in the period, the Ministry of Transport (MOT) said in a statement.

Investment in the country's roads reached 1.76 trillion yuan in the first 10 months.

MOT data shows that FAI in expressways and rural roads expanded 11.6 percent and 1.5 percent year on year in the period, respectively.

By 2020, China aims to have a modern transportation system that is safe, convenient, efficient and green.

The country plans to spend around 2.6 trillion yuan on transport infrastructure in 2018, with goals to further expand railway and road networks, especially in poverty-stricken areas.

Kenya, Huawei to partner to monitor water quality to boost access to clean water

Date Nov 27 2018 11:36:31 Source:Xinhua

Kenya and Chinese technology firm Huawei plan to partner to monitor water quality in order to boost access to clean water, officials said on Monday.

Fred Nyongesa, water quality manager of Water Resource Authority (WRA) told Xinhua in Nairobi that they are in discussions to sign an agreement with Huawei to begin monitoring water quality in early 2019.

"Under the agreement Huawei will install telemetric systems to relay water quality data to WRA database on a real time basis to check for disease causing organisms as well as to enhance the safety of aquatic ecology," Nyongesa said during the Sustainable Blue Economy Conference currently under way in Nairobi, Kenya.

Nyongesa said that once the system is in place, it will enable government to track water polluters on a real time basis using remote sensing.

He added that currently 60 percent of all surface water in urban areas and 40 percent of all water bodies in rural areas are polluted.

Nyongesa revealed that contamination of water bodies is largely due to illegal discharge of solid and liquid waste into rivers, lakes and streams.

WRA is currently conducting a survey on the country's six water catchments areas to assess and classify their levels of pollution.

Prateek Bhatt, channel solution manager at Huawei said that the water monitoring system is currently working in China.

Bhatt said that its water quality monitoring system works through sensors that are installed at strategic locations to gather data which is stored at private and public cloud.

"We have developed a communication platform that is robust enough to extract valuable data according to how it is configured," he said.

China's industrial profits up 13.6 pct in first ten months

Date Nov 27 2018 11:32:35 Source:Xinhua

Profits of China's major industrial firms grew 13.6 percent year on year in the first 10 months of 2018, down from the 14.7-percent expansion for the January-September period, the National Bureau of Statistics (NBS) said on Tuesday.

Profit at 34 of the 41 sectors surveyed rose compared with one year earlier, unchanged from that for January-September, according to the NBS.

In October, combined profits at industrial firms with annual revenue of more than 20 million yuan (about 2.88 million U.S. dollars) rose 3.6 percent year on year to 548 billion yuan, 0.5 percentage points slower than that recorded in September.

According to the NBS, the sectors of steel, construction materials, oil and chemicals contributed 75.7 percent to the overall industrial profit increase.

By the end of October, the debt-asset ratios of major industrial firms dropped 0.5 percentage points from a year earlier to 56.7 percent.

China's petroleum and chemical industry report higher profits

Date Nov 26 2018 14:57:02 Source:Xinhua

China's petroleum and chemical industry has generated some 712.1 billion yuan in total profit over the first nine months, up 45.2 percent from the same period of last year, official data showed.

The figure took up 14.3 percent of the total profits generated by domestic industrial enterprises that each has an annual main operation income of more than 20 million yuan, according to the Ministry of Industry and Information Technology.

With a total asset of 12.75 trillion yuan, up 6.1 percent over the same period last year, the sector has seen its asset-liability ratio fall by 1.16 percentage points to 54.19 percent.

The sector's profit rate climbed up by 1.56 percentage points to 7.43 percent, thanks to the solid improvement in the operation efficiency of petroleum and natural gas exploration business as well as the good development momentum in oil refining and chemical industry.

The overall prices of petroleum and natural gas surged by 24.6 percent during the January-September period, while those for chemical raw materials and chemical products jumped by 7.2 percent.

The industry's total exports during the same period went up by 22.8 percent to 521.66 billion yuan. The growth rate was 8.6 percentage points higher than the same period of last year.

Fixed assets investment in chemical raw materials and chemical manufacturing rose by 1.7 percent, the first increase since the end of January but lower than the 5.4-percent national average growth for industrial investment, according to the figures of the National Bureau of Statistics.

China's iron and steel industry maintains steady growth

Date Nov 26 2018 09:52:24 Source:Xinhua

China's iron and steel industry has maintained solid growth momentum, posting notable rises in both operating income and profits from January to September.

Statistics from the Ministry of Industry and Information Technology showed that the industry's total main operating income surged up by 14 percent from the same period last year to 5.66 trillion yuan (816.7 billion U.S. dollars).

The industry's aggregate profit during the period amounted to 358.7 billion yuan, up 65.3 percent year on year.

Large- and medium-sized enterprises contributed 3.06 trillion yuan to the total operating income and 230 billion yuan to profits. The two figures marked a rise of 14.5 percent and 86 percent respectively.

By the end of September, the debt ratio of large- and medium-sized enterprises dropped by 3.9 percentage points from a year earlier to 66.1 percent.

Thanks to the efforts in reducing overcapacity and the production ban on substandard steel, Chinese iron and steel producers have been able to sell their products abroad at better prices.

From January to September, China exported steel products of 53.08 million tonnes, down 10.7 percent year on year, but their aggregate export value has risen 6.1 percent year on year to 298.99 billion yuan.

The export price averaged 5,633 yuan per tonne, up 18.8 percent from the same period last year.

This year, China's steel export was expected to stand around 70 million tonnes, said the ministry.

A separate report from the China Iron and Steel Industry Association said that pressure on the supply side would remain. In October, the country's daily output of crude steel averaged 2.66 million tonnes. Although the number dropped by 1.19 percent from the previous month, it remained to be the third highest in history.

As winter is usually a slow season, the association prompted local enterprises to carefully analyze the changes in demand to ensure the steady operation of the market.

It also pointed out that recovering manufacturing investment and infrastructure construction would boost steel demand, as the country had taken a series of measures to ease the capital shortage facing private firms.

"In general, the country's steel demand will hold steady," the report said.

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