News in review

Monday____June 5

Listed realty companies face uphill task on curbs

China's listed real estate enterprises are likely to face big challenges in both sales and financing this year due to stricter measures, according to a report.

More companies have turned to traditional financing channels, which include bank loans, medium-term notes and trusts, instead of corporate bonds, according to the report of the China Index Academy.

An increasing number of real estate companies are looking at overseas financing channels to prevent capital flows from drying up, the report said. It revealed that overseas financing has grown 308 percent year-on-year and 169 percent more in this year's first quarter than in the first quarter of 2015.

Next year will likely pose higher capital risk to some listed small and midsized real estate companies, given their current difficulty in selling homes in their key markets like third- and fourth-tier cities, the report stated. (Photo 1)

Chinese police patrol in Italian cities

Ten Chinese police officers have started joint patrols in four Italian cities for 20 days to protect Chinese tourists.

Four groups of Chinese police officers will join their Italian counterparts for the patrols in Rome, Milan, Florence and Naples from Monday to June 25, according to a statement from the Chinese Ministry of Public Security.

China sent four police officers to Rome and Milan to conduct joint patrols in May 2016. This year, Florence and Naples, both popular destinations for Chinese tourists, were added and six additional officers were sent.

From April 24 to May 7, four Italian officers and their Chinese counterparts conducted joint patrols at tourist areas in Beijing and Shanghai, the first foreign police officers to carry out joint patrols in China.

(Photo 2)

Tuesday____June 6

Military jet rolled out for export

A domestic aircraft manufacturer rolled out its first plane for export, a trainer for fighter jet pilots in Anshun.

The aircraft, a modified Mountain Eagle based on the earlier JJ-7 trainer jet, was developed by Guizhou Aviation Industry Group, a subsidiary of Beijing-based Aviation Industry Corp of China.

The Mountain Eagle was first put into use in China in 2010 after making its first flight in 2003. The version that was rolled out on Monday has been modified with export in mind.

It can be used to train fighter pilots in peacetime and be equipped with various types of missiles for use as a fighter in wartime, said Wang Wenfei, the company's president. All spare parts and components for the aircraft are made in China. (Photo 3)

Tencent in world's top 100 brands

Chinese internet portal Tencent has made it into the top 10 rankings of the world's 100 most valuable brands, according to an annual report.

The 2017 Top 100 Most Valuable Global Brands was released on Tuesday by WPP and Kantar Millward Brown.

Tencent was ranked No. 8, and was one of 21 brands from the Asia Pacific region to make the list.

Tech giants Google, Apple, Microsoft, Amazon and Facebook took the top five places on the list. The US dominates the rankings with 54, and US brands make up 71 percent of the list's value. But more Chinese brands are moving up.

Other Chinese brands on the list are Alibaba (14) and China Mobile (17), ICBC (28), Baidu (39), Huawei (49), China Construction Bank (54), Ping An (61) and Moutai (64). (Photo 4)

Wednesday____June 7

China planning manned moon landing

China is making preliminary preparations for a manned lunar landing mission.

Yang Liwei, deputy director general of China Manned Space Agency, said on Tuesday that it will not take long for the project to get official approval and funding. He made his comments during a group interview at the Global Space Exploration Conference in Beijing.

When asked whether he has any plan to step onto the Moon, Yang, China's first astronaut, showed great excitement. "If I am given the opportunity, no problem!" he said.

Wu Yansheng, president of China Aerospace Science and Technology Corp, also said that China is working on a manned lunar landing plan.

The mission will consist of a manned spaceship, a propulsion vehicle and a lunar lander.

Reusable space craft being developed

China Aerospace Science and Industry Corp, one of the nation's major space contractors, said it is developing reusable spacecraft capable of taking off and landing at airports.

Liu Shiquan, deputy general manager of CASIC, told the 2017 Global Space Exploration Conference that the cutting-edge spacecraft's key technologies and major parts - such as its engine - have passed ground tests and the program is proceeding smoothly.

Yang Yuguang, a spaceflight expert and member of the International Astronautical Federation's Space Transportation Committee, said reusable spacecraft will have a wide range of applications, such as providing space tours for ordinary people, transporting astronauts, resupplying space stations as well as placing satellites into orbit.

Thursday____June 8

Xiongan development will not be'kidnapped'

China is seeking a new path for urban development through Xiongan New Area, a policy adviser said, stressing that development of the new economic zone will not be "kidnapped" by property developers.

Xu Kuangdi, director of a council of experts for coordinated development of the Beijing-Tianjin-Hebei (Jing-Jin-Ji) region, made the remarks at a forum on urban development in Beijing.

China announced plans to establish Xiongan New Area in April as part of measures to integrate Jing-Jin-Ji development and cure "urban ills" such as traffic congestion and air pollution in the capital.

The move has since driven a speculation frenzy in the property market in the area, which prompted policymakers to put in place strict controls on real estate development in Xiongan New Area.

'6/18'online shopping event

Online marketplaces in China are preparing for "6/18", the mid-year online shopping event that e-commerce platform JD.com first launched in 2010 to celebrate the company's anniversary on June 18. It joins the Singles' Day sale on Nov 11 and has become one of China's largest online shopping sprees.

JD.com will use technology such as augmented reality and virtual reality to offer interactive shopping experiences and will also employ robots, driverless cars and drones for deliveries.

Almost all Chinese e-commerce platforms are developing a "new retail" model, which not only features online and offline (o2o) retail, but also one-stop and streamlined service from shopping to payment and delivery.

China is the world's largest online shopping market, with about 467 million online consumers spending about $3.83 trillion last year, up 19.8 percent year on year. (Photo 5)

Friday____June 9

60 accounts closed over their content

Sixty social media accounts will be shut down for disseminating commercial speculation, vulgar content and other reasons, according to a statement released by the Beijing Cyberspace Administration.

Seven social media platforms, including Sina Weibo, WeChat, Tecent and Baidu, provided the accounts, most of which dealt with celebrity gossipincluding the well-known China's No 1 Paparazzi Zhuo Wei, which has released information about celebrities' private lives.

The administration said internet service providers should increase their control of information released by users and immediately stop the spread of information deemed illegal based on the cybersecurity law that took effect on June 1.

CRRC plans greater global expansion

China Railway Rolling Stock Corp, the country's railway vehicle manufacturer, plans to establish 11 regional branches throughout the world by 2020 and further target key markets including Europe, North America, Russia and Central Asian countries, said a top executive.

The 11 regional branches will be set up in countries such as Russia, the UK, South Africa and Australia. The company wants to manufacture trains, purchase parts, and build maintenance and service facilities through a localization strategy and hiring local employees in key markets in 2020.

CRRC set up its first regional branch for North America in Massachusetts last year. The branch is designed to coordinate its businesses and participate in project bidding in the United States, Canada and Mexico.

(China Daily USA 06/09/2017 page12)