Briefly

China-Africa expo in Changsha Sept 26-29

The second China-Africa Economic and Trade Expo will be held in Changsha, capital of Central China's Hunan province, from Sept 26 to 29. Themed "New Start, New opportunities and New Accomplishment", the event will be co-organized by the Ministry of Commerce and Hunan provincial government. Covering an exhibition area of 94,000 square meters, the expo is expected to attract more than 9,700 participants, including 50 embassies of African countries in China, six international organizations and more than 900 enterprises. Eighteen supporting activities will be held during the event, covering a wide range of topics, including food and agricultural products, medicine and health, infrastructure and financial cooperation.

SMIC to open new production line

Semiconductor Manufacturing International Corp, China's top chipmaker, announced on Friday it will set up a production line in Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone. The new line will be able to churn out 100,000 12-inch wafers every month. It will focus on manufacturing integrated circuit foundry and technology services on process nodes for 28 nanometer and above. The investment in the production line will be around $8.87 billion.

Ningxia reports surging foreign trade

Northwest China's Ningxia Hui autonomous region saw its foreign trade surge 30.5 percent year-on-year to reach 8.74 billion yuan ($1.4 billion) in the first seven months of 2021, local Customs authorities said. In particular, its trade with economies along the Belt and Road amounted to 2.77 billion yuan, accounting for 31.7 percent of its total trade volume and marking a 46.1 percent increase over the same period last year, official data showed. Vietnam and Thailand were among Ningxia's major trading partners during the period.

Freight train links Chengdu and Oslo

A new China-Europe freight train route was launched on Thursday, linking Chengdu, capital of Southwest China's Sichuan province, with Norway's capital Oslo. The first freight train on this route left Chengdu on Thursday, carrying goods, including electronic products and home appliances. Chengdu's China-Europe freight train service currently has 65 overseas destinations. The expansion came after the freight train service has been extended to seven overseas destinations, including St Petersburg and Amsterdam, this year.

PBOC conducts reverse repos

China's central bank on Friday conducted 10 billion yuan ($1.55 billion) worth of reverse repos to maintain reasonably ample liquidity in the banking system. The interest rate for the seven-day reverse repos was set at 2.2 percent, a statement on the website of the People's Bank of China said.

Xinhua - China Daily