IN BRIEF (Page 18)

McDonald's to shutter 220 outlets in China, US

McDonald's Corp, the world's largest fast-food chain, is to close 350 outlets globally, including 220 in China and the United States.

The company said the move is in reaction to an 8.3 percent slump in first-quarter comparable sales in the Asia Pacific, the Middle East and Africa, which it blamed on the impact of what it called prolonged, broad-based consumer perception issues in Japan, and negative but improving performance in China.

Global comparable sales dropped 2.3 percent, reflecting negative customer traffic in all major segments, resulting in a 28 percent slide in the company's overall consolidated operating income.

Construction firm to buy steel from Kenya

China Road and Bridge Corp said on April 27 it plans to buy more than 5,000 metric tons of steel worth more than $3.7 million from Kenyan manufacturers for the construction of the Standard Gauge Railway.

CRBC Procurement Manager Zhang Chen said the purchase will be a first large-scale local purchase of steel by CRBC since construction of the new railway began.

"We have tested the steel suppliers' products that are participating in this process in our SGR Project center lab and they have met the requirements for the project," Zhang said in a statement issued in Nairobi.

The firm has previously purchased smaller consignments from different Kenyan steel makers.

CRBC said the 5,250 tons of steel bars are expected to meet steel requirements for the construction of culverts and bridges foundation construction for about three months.

Kenya Association of Manufacturers members were seeking ways of gaining from the construction of the high-speed railway, which is expected to create a local workforce of about 30,000.

China helps Kenyan youths attain new skills

China is providing Kenya more than $120 million in concessional loans to help the East African nation's youth attain new job skills.

China has provided assistance to revamp Kenya's National Youth Service, the country's premier vocational training institute, under phase one of a bilateral cooperation agreement. The Asian nation has agreed to provide equipment for the construction industry during the second phase.

The youth service is a beneficiary of Chinese assistance to provide young people with vocational skills and shield them from antisocial habits associated with unemployment. The loans have been used to upgrade and equip the service.

UAE wants to become a trade catalyst

The United Arab Emirates will become an increasingly important partner for China, the country's top diplomat in Beijing said, through the Middle East nation's active participation in both the Belt and Road Initiative, and the Asian Infrastructure Investment Bank.

"The Belt and Road is an excellent initiative and the UAE is ready to engage, fully," said Omar Ahmad Adi Al Bitar, UAE ambassador to China.

Proposed by President Xi Jinping and involving more than 50 countries, including the UAE, the Belt and Road Initiative is a vision of international cooperation that spans across the East Asian region to the heart of European continent, passing through the vast hinterland of South and Western Asia and Eastern Europe.

"On the Belt and Road project, the UAE can act as an ideal gateway, a platform and a home for businesses, travelers and dwellers," Al Bitar said.

New norms coming for public utilities

The new guideline for licensing of infrastructure and public utilities is set to come into effect on June 1, the National Development and Reform Commission said. According to the new rules, the licensing period for infrastructure and public utilities, which was restricted to within 30 years, will now be determined by industry characteristics, demand for public goods and services, the life cycle of programs, and payback period. The guidelines focus on promoting licensing in fields including energy, transportation, water conservancy and environmental protection.

Centers to step up advertising regulation

National advertising data centers have been set up across China starting on April 28 to better regulate the country's advertising industry and combat unlawful, false advertising, said Zhang Guohua, head of the Department of Advertising Regulation at the State Administration of Industry and Commerce. Zhang spoke at an industry forum on April 27. "We have set up sites in 330-plus cities nationwide and at the State levels to monitor traditional media, including television, broadcasting and print," he said.

Mobile payment app launched by SF Express

China CITIC Bank, a mid-sized joint-equity commercial lender, and express delivery giant SF Express jointly launched a package of innovative financial services on April 28 in Shenzhen, Guangdong province, to facilitate integration of the finance and express delivery business, sources with both the companies said. Both companies have developed a mobile payment application, which will enable CITIC bank card users to enjoy favorable policies in delivery business.

Wine-growing area increases in China

China now has the second-largest wine-growing area in the world after Spain, pushing France into third place, according to figures released by the International Organization of Vine and Wine. The figures for 2014 showed China had 799,000 hectares of land devoted to wine growing, compared with 1.02 million hectares for Spain. France remained the biggest producer of wine in the world, pumping out 47 million hectoliters last year.

Dalian seeks place under FTZ sun

The governor of Liaoning has urged the central government to approve the Dalian Free Trade Zone as early as possible, in a bid to give the province an edge in diversifying its trade.

Li Xi, the provincial governor, said: "The Dalian FTZ is designed not just as a copy of others, but one that is more regionally integrated, targeted, and differentiated in its own functions, backed by a strong industrial foundation and strategic positioning vis-a-vis Japan, Russia, Mongolia, and the Korean Peninsula."

With the government keen on the Revitalize Northeast China campaign, setting up a free trade zone in Dalian, the international shipping center and regional finance center in Northeast Asia, can boost trade volume between regional markets and three of China's northernmost provinces and part of the Inner Mongolia autonomous region.

China Eastern to raise $2.42 billion

China Eastern Airlines Corp Ltd plans to raise as much as 15 billion yuan ($2.42 billion, 2.2 euros) through a private share sale to finance the expansion of its fleet. The announcement, which follows plans by rival Hainan Airlines Co Ltd to raise $3.86 billion, comes as Chinese carriers seek to tap into a boom in local stock markets to fuel a new round of growth.

(China Daily Africa Weekly 05/01/2015 page18)