IN BRIEF (Page 18)

Deals at fair to stay on an even keel

Organizers of the China Import and Export Fair say transactions at the fair are expected to be stable even though China's imports and exports fell in the first three months.

The event, commonly called the Canton Fair, is closely watched as a barometer of the country's trade.

Spokesman Liu Jianjun said the prediction was based on a series of positive conditions including increased demand from emerging markets, the implementation of policies to support trade and the involvement of a growing number of companies in self-innovation.

The General Administration of Customs said on April 14 that China's foreign trade volume contracted 6.3 percent year-on-year in the first quarter, with exports falling 14.6 percent in March from the corresponding period a year earlier to $144.6 billion.

Rail cargo down 9% in Q1 as economy slows

First-quarter rail freight volumes slid 9 percent year-on-year to 870 million metric tons amid slack economic conditions, official data showed. The figures released on April 13 by the China Railway Corp added to other economic indicators that showed prolonged economic weakness. Weakened by a housing slowdown, softening domestic demand and unsteady exports, the Chinese economy grew 7.4 percent in 2014, its weakest annual expansion in 24 years.

Air China adds flight linking Beijing and Paris

Starting on June 1, Air China will add a second daily service between Beijing and Paris.

Ding Qi, the general manager of Air China France and Belgium Ding Qi, said the new flight would leave Beijing Capital International Airport at 2:05 am local time and land at Paris Charles de Gaulle Airport at 7:25 am local time.

The return flight will leave Paris at 2:10 pm local time, and arrive in Beijing at 6:30 am local time the next day.

LeTV to challenge Apple in US smartphone market

LeTV Holdings Co Ltd will begin selling its smartphones in the United States this year, challenging Apple Inc's iPhone, the company said on April 14.

The Beijing technology company, known for its online video-streaming services, unveiled three types of handsets in an effort to take on the iPhone 6 Plus and Mi Note, produced by another Chinese smartphone maker, Xiaomi Corp.

LeTV has also said it plans to offer Internet TV and video-streaming services in the US this year.

Zero-carbon zone to greatly cut costs

The country's first zero-carbon energy pilot zone is to be set up in Weichang Manchu and Mongolian autonomous county, Hebei province, at a cost of 600 million yuan ($96.5 million), the People's Daily reported on April 13. Unlike projects that use just one source of energy, the zone will employ new commercial and technology models that will cut costs by 20 percent and increase the "environmental benefits" by 50 to 100 percent, the newspaper said. The project will be part of an integrated renewable energy system with combined installed capacity of 100 megawatts.

Bank to use tools to manage liquidity

Various policy tools will be used to maintain "appropriate liquidity conditions" and "reasonable" growth in credit and social financing, the People's Bank of China said on April 14. The central bank also said that corporate borrowing costs had continued to fall and financing conditions were improving. The proportion of direct financing in the country's total social financing, the broadest measure of credit in China, increased, while trusts and high-cost borrowing fell, it said.

'Strong cities' to help propel global growth

Sixty "strong cities" in China are forecast to generate 15 percent of global economic growth over the next decade, said a report by global property service firm Jones Lang LaSalle. According to the report published on April 13, Beijing and Shanghai are China's "alpha cities" and Guangzhou and Shenzhen rank as first-tier cities. The four now have an aggregate economy valued at $8.6 trillion. The 60 cities were chosen on the basis of economic growth, population, wealth, investment, retail sales, household savings, education infrastructure, land sales and retailer presence.

Shortage of chemical may last until 2018

Supply shortage of the petrochemical product paraexylene will continue to grow in China until 2017 or 2018, said Luo Hongjing, deputy director of the Optimization and Consulting Center at Sinopec Economics and Development Research Institute. Speaking at the Petrochemical Industry Development Conference, Luo said Liaoning, Zhejiang and Jiangsu provinces would face serious supply shortages.

Aluminum exports 'probably peaked'

Aluminum shipments from China have probably peaked after surging 43 percent in the first quarter as sustained supply from the country depresses global prices and makes exports uncompetitive, CLSA Ltd says. Exports of unwrought aluminum and aluminum products rose from a year earlier to 1.21 million metric tons, the General Administration of Customs said on April 13.

Shipments fell 15 percent in March to 360,000 tons from the previous month, customs said, as prices fell for a second month.

Internet P2P deals worth $8b, website says

Online peer-to-peer lending transactions in China were worth 49.26 billion yuan ($8 billion) in last month, the industry research portal 199it.com says. The transactions had an overall yield of 15.02 percent. By amount, Guangdong province was the leader, followed by Anhui, Shandong and Zhejiang provinces, Jiefang Daily reported on April 13. Mainstream platforms posted overall yields of 7 to 18 percent.

Inquiry into paper imports from EU

The Ministry of Commerce says it has opened an investigation into claims that the European Union, the United States and Japan were selling a paper product at unfairly low prices. The ministry said the investigation will decide whether dumping of unbleached sack paper, used for food packaging, has occurred. The investigation will last one year, with the potential for a six-month extension, it said.

Hyundai beats VW as top mass auto brand

Hyundai Motor Co beat Volkswagen AG and General Motors Co's Buick to be the top-ranked mass-market auto brand in China in a state-backed survey, although the South Korea-based vehicle producer's deliveries in the nation fell in the first quarter. BYD Co was the top-ranked Chinese automaker in the China Brand Power Index. Audi was first in the luxury auto category, according to the survey, which was based on interviews with 11,500 consumers in 30 cities and funded by the Ministry of Industry and Information Technology.

China Daily-Agencies

(China Daily European Weekly 04/17/2015 page18)