What's news

Mobile energy road to future

Privately held renewables company Hanergy Holding Group Ltd announced on Feb 2 that it will develop a totally solar-powered car that can go into commercial production in October.

Li Hejun, founder and chairman, said that mobile energy will revolutionize the new material, advanced manufacturing and energy-conservation industries.

Hanergy will cooperate with five vehicle designers - three foreign and two domestic - to develop three to five models of vehicles. Each will have a thin-film solar battery measuring 6 square meters that will power a vehicle for 80 to 100 kilometers after a four-hour charging period.

Export of rail equipment hits 26.77 billion yuan

China saw a surge in export of railway equipment as industry leaders actively explore overseas markets, official data showed on Feb 4. China exported 26.77 billion yuan ($4.36 billion) worth of railway equipment last year, surging 22.6 percent year-on-year, according to data from the General Administration of Customs.

Utour arranges big tour group to France

Beijing Utour International Travel Service Co Ltd, China's only listed private travel agency, will organize a tour group of over 6,400 people to France in May, the largest tour group between the two countries in 50 years, according to industry experts. The contract was for Tiens Group Co Ltd, a Tianjin-based health product builder, to celebrate its 20-year anniversary. The group involves salespeople and partners from 50 countries.

Shipbuilders to gain from favorable policies

The shipbuilding industry is expected to see remarkable investment opportunities this year thanks to favorable policies, expanded construction of navy equipment and asset securitization, the China Securities Journal reported on Feb 3. The government has been continuously increasing its support to the shipbuilding sector. The People's Bank of China, the central bank, has already proposed guidelines for raising the financial support needed to upgrade ship manufacturing, and they are likely to get the green light soon. Private shipbuilding firms are likely to see booming business this year.

Insurance scheme will cover food producers

China has established a pilot insurance scheme for food producers to cover losses from food safety incidents, according to a guideline issued by the China Insurance Regulatory Commission. The pilot program will be used first by companies considered to have high risks such as producers of meat, alcohol, milk powder, cooking oil and fast-food chains.

High-tech to boost industrial efficiency

The government will use more emerging high technologies to boost the sophistication and efficiency of the manufacturing sector, the Ministry of Industry and Information Technology said on Feb 3. An array of new technologies, including cloud computing and 3-D printing, will be adopted by traditional manufacturing industries to "achieve more added-value", according to an article posted on the ministry's website. New energy, new materials and data analytics are among the sectors where China is hoping to achieve breakthroughs.

Parallel car imports for Tianjin trade zone

Tianjin is set to introduce a pilot program for parallel car imports and a "negative list" of off-limit areas for foreign investment in its free trade zone, according to a spokesman for the municipality's development and reform commission. The "negative list" should be published by the end of this month.

China Daily

(China Daily European Weekly 02/06/2015 page18)