IN BRIEF (Page 24)

Railway investment up 1.9% in first half

China's railway investment increased in the first half of the year, and national railway investment is expected to hit a new high in 2017, authorities said on July 26. In the first half, fixed asset investment on railways hit 312.5 billion yuan ($46 billion; 40 billion euros; ￡35 billion), up by 1.9 percent year-on-year, according to the China Railway Corp. "Investment is expected to hit a new high for the whole year, as construction in the second half of the year will rise as new projects get underway," says Wang Mengshu of the China Academy of Engineering. Scheduled progress has been made in 27 major projects, including the Beijing-Shenyang passenger line and the Hangzhou-Huangshan high-speed line, CRC said. More lines will be started in the second half, including a high-speed line between Anqing and Jiujiang and a line between Huanggang and Huangmei.

Outbound FDI slows 'but not going away'

While the policy environment for Chinese outbound foreign direct investment has changed and mega deals are becoming more difficult to forge, Chinese overseas investments are not going away, a US think tank says in a recent report. "The current policy environment may tie the hands of Chinese mega dealmakers, such as Anbang, HNA, and Wanda. But that could simply shift the focus of Chinese FDI to another class of investor, as private equity and venture capital firms can now step in and potentially define Chinese FDI in the coming years," says a report from Macro Polo, an in-house think tank of the Paulson Institute at the University of Chicago, aiming to analyze China's economy. China became the second-largest source of outward FDI for the first time in 2016, when Chinese companies spent $183 billion (156 billion euros; ￡139 billion) on cross-border mergers and acquisitions, according to the World Investment Report 2017 released by the United States Conference on Trade and Development.

CGN eyes Poland for China's nuclear exports

China General Nuclear Power Corp is eyeing Poland as a potential destination for nuclear exports, as part of its expansion in Europe apart from the United Kingdom, the Czech Republic and Romania. Polish authorities have been consulting with CGN, China's largest nuclear operator, on cooperating and building the country's first nuclear power station, according to a statement on the CGN website on July 24. "CGN attaches substantial significance to the Polish nuclear power market and is willing to become a long-term strategic partner of the country," says Shu Guogang, vice-president of CGN. The two parties signed a memorandum of understanding on cooperation on civil nuclear energy use earlier this month, which Shu says will bring mutual benefits to both countries.

Green industry alliance launched

A green manufacturing alliance was inaugurated to better support China's green and sustainable development, according to the Ministry of Industry and Information Technology. Led by the ministry, members of the Green Manufacturing Association of China are from China's leading scientific research institutions and manufacturing enterprises, covering industries such as iron and steel, building materials, energy, textiles and finance. More than 400 representatives from multinational enterprises, international institutions and foreign embassies attended the inauguration ceremony. "China should eliminate backward production capacity with high energy consumption and high pollution and stick to the path of sustainable development," says Xin Guobin, vice-minister of industry and information technology. According to the ministry, the alliance will serve as a platform for China's green manufacturing businesses to cooperate with financial institutions and multinational enterprises.

Tibet airport visits at record high

Airports in the Tibet autonomous region handled a record high of 2.07 million passengers in the first half of 2017, the regional civil aviation authority said on July 26. The passenger flow was 11.8 percent higher than the same period last year. A total of 19,600 flights took off or landed at Tibet's airports from January to June this year, up 5.2 percent year-on-year. Cargo throughput also rose 26.2 percent to 15,900 metric tons on a yearly basis during the same period, the authority said. An official told Xinhua that the region expects to welcome 4.5 million passengers in 2017, with July and August the peak tourist season on the Qinghai-Tibet Plateau, known for its breathtaking scenery of snowy mountains and emerald lakes.

Ethiopia seeking aviation cooperation

Ethiopia aims to have strategic cooperation with China on the aviation sector as the East African nation works toward becoming an African aviation hub, says Ethiopia's transportation minister. Ahmed Shide, minister of Ethiopia's Ministry of Transport, says Ethiopia and China have air infrastructure as a major pillar of the two countries' cooperation. "Aviation is an important area of cooperation by both governments, with Ethiopia's national air carrier Ethiopian Airlines becoming a connecting force between African and China," Shide says. Ethiopian Airlines already has five flight destinations to China: Beijing, Shanghai, Chengdu, Hong Kong and Guangzhou. "We plan to make Ethiopia's capital, Addis Ababa, a strategic aviation hub between China and Africa," says Shide, adding that with China working on being an airplane manufacturing center, he expects Ethiopia to be a customer of fully developed Chinese airplanes in the future.

Morocco, China sign skyscraper deal

A Chinese company has signed a deal with Moroccan companies to build the tallest skyscraper in Africa in the capital of Morocco, local media reported on July 23. The deal was concluded in Casablanca by China Railway Construction Corp and Morocco's BMCE Bank of Africa and Travaux Generaux de Construction de Casablanca, Morocco's leading construction company, according to news site le360.ma. The 55-story tower will reach 250 meters high, with the adoption of ecological and sustainable design concepts. It will include offices, hotels and luxury apartments, according to the report. The tower will be the highlight of a large-scale project to develop the Bouregreg Valley in Rabat, a key component of the 2014-18 Integrated Development Program entitled "Rabat, City of Light, Moroccan Cultural Capital." The new project also involves the construction of the Grand Theatre of Rabat, the Arts and Culture House, the National Archives of the Kingdom of Morocco and the Archaeological Museum.

Liberia hails donation to police

Liberian President Ellen Johnson Sirleaf lauded the Chinese government on July 25 for donating equipment worth more than $2 million (1.7 million euros; ￡1.5 million) to the country's police. Sirleaf, in a statement, said the donation would go a long way, especially at a time when police were preparing for the country's presidential and parliamentary elections on Oct 10. "This gesture will go a long way in addressing some of the logistic problems confronting the police," she said, urging police leaders to use the equipment for the benefit of the Liberian people. The items donated on July 24 included raincoats, protective helmets for riot police, crowd control equipment, camp beds, expandable batons and reflective jackets.

(China Daily Africa Weekly 07/28/2017 page24)