Belgium-based global biopharmaceutical company UCB announced the commercial launch of an innovative biological therapy to treat moderate-to-severe active rheumatoid arthritis (RA) for adult patients in China, marking the expansion of company's business footprint to immune system diseases in the country.
The injection that patients are suggested to take every two weeks is the first biological agent approved in China to be used for female RA patients both during pregnancy and lactation if clinically needed.
Doctors said RA is an autoimmune disease that causes chronic joint inflammation and affects 5 million people in China. The number of women patients suffering from the disease is three times that of the opposite gender, and women at childbearing age usually have to face the dilemma between postponing starting a family and suspending disease treatment with traditional therapies.
Tian Xinping, chief physician of the department of rheumatology and immunology of the Peking Union Medical College Hospital, said if the disease is not well controlled for women before and during pregnancy, it may increase the risk of adverse pregnancy outcomes, such as preterm birth, low birth weight and preeclampsia. RA also comes with high disease relapse rate after giving birth, she said.
Taco van Tiel, vice-president and head of international markets of UCB, said the product with novel molecular structure made world debut in Switzerland 12 years ago and so far has been available in 56 countries and benefiting over 380,000 patients.
"We're delighted to bring this novel medicine to Chinese patients living with challenging chronic inflammatory conditions. UCB has a long heritage in immunology and now China has built an active pipeline of innovative portfolios reflecting UCB's global strengths," he said.
Wu Xin, managing director of UCB China, said about five innovative molecules, including those treating autoimmune disease and osteoporosis, are scheduled by the company to be launched in the China market over the next five years.
"For two drugs, China is part of the global Phase III clinical trial simultaneously," he said.
(Source: China Daily)
17 December 2019
South African bank launches UnionPay card for prompt payment in China
The Standard Bank of South Africa launched UnionPay card on Thursday to local account holders for more convenience in payment in China.
The card is available in both virtual and physical form on the bank's Shyft app. The app allows pre-loaded South African rands to be exchanged into multiple currencies and then loaded into a physical UnionPay card.
Zhang Luping, general manager of the UnionPay International Africa branch, said UnionPay is excited to work with Standard Bank, which is the first African bank to receive the license to issue UnionPay card in the country.
"With the UnionPay card, transacting in China becomes both easier and safer for South African tourists and visitors on business," said Ethel Nyembe, head of card issuance at Standard Bank.
"They can go about their activities and purchase goods from suppliers, for example, in a cashless manner, reducing some of the previous risks involved," she said.
Nyembe said the UnionPay card is accepted through most mobile payment apps, which are hugely popular in China.
The UnionPay global acceptance network has expanded to 177 countries and regions so far, covering over 56 million merchants and over 4.6 million ATMs. About 8 billion UnionPay cards have been issued in 58 countries and regions with over 130 million being used outside the Chinese mainland.
(Source: Xinhua)
The card is available in both virtual and physical form on the bank's Shyft app. The app allows pre-loaded South African rands to be exchanged into multiple currencies and then loaded into a physical UnionPay card.
Zhang Luping, general manager of the UnionPay International Africa branch, said UnionPay is excited to work with Standard Bank, which is the first African bank to receive the license to issue UnionPay card in the country.
"With the UnionPay card, transacting in China becomes both easier and safer for South African tourists and visitors on business," said Ethel Nyembe, head of card issuance at Standard Bank.
"They can go about their activities and purchase goods from suppliers, for example, in a cashless manner, reducing some of the previous risks involved," she said.
Nyembe said the UnionPay card is accepted through most mobile payment apps, which are hugely popular in China.
The UnionPay global acceptance network has expanded to 177 countries and regions so far, covering over 56 million merchants and over 4.6 million ATMs. About 8 billion UnionPay cards have been issued in 58 countries and regions with over 130 million being used outside the Chinese mainland.
(Source: Xinhua)
Samsung's 15-bln-USD chip project in China to begin mass production next year
The second phase of Samsung's chip plant in northwest China's Shaanxi Province, with a total investment of 15 billion U.S. dollars, will start mass production in 2020, according to Samsung China Semiconductor Co. Ltd. said Tuesday.
The first part of the second phase in Xi'an, with an investment of 7 billion dollars, is expected to be completed and put into operation next March. The second part is scheduled to be finished in the second half of 2021, according to the company.
Samsung signed an agreement with the Shaanxi provincial government in 2017 to start the second phase of the chip plant to expand chip production capacity.
The first part of the second phase in Xi'an, with an investment of 7 billion dollars, is expected to be completed and put into operation next March. The second part is scheduled to be finished in the second half of 2021, according to the company.
Samsung signed an agreement with the Shaanxi provincial government in 2017 to start the second phase of the chip plant to expand chip production capacity.
15 December 2019
China, S. Korea steel companies form JV
The HBIS Group Co Ltd said it will partner with South Korea's largest steel company POSCO in setting up a joint venture in China to develop, produce and sell high-end steel products for the automobile industry, aiming to seize opportunities in the country's automobile market.
HBIS Group Co Ltd is one of China's largest steelmakers.
According to the company, location of the joint venture, which is still under discussion, is expected to be in Tangshan, North China's Hebei province, where HBIS's Laoting cold rolling steel project is located.
The two firms recently signed a memorandum of understanding for the project. The detailed investment scale of the venture was not disclosed because related matters remain under discussion, HBIS said.
Xu Xiangchun, information director and analyst with iron and steel industry consultancy mysteel.com, said the cooperation should be a win-win move for both firms.
"By cooperating with Chinese companies, overseas steelmakers can gain more share in the country's steel market, which is the largest in the world," Xu said, adding Chinese companies can cooperate with foreign steel giants on advanced technologies to improve the competitiveness of their products.
Xu explained that Chinese steelmakers have developed rapidly in recent years, especially in producing high-end steel products.
The cooperation in the auto steel project will allow the two partners to enhance their respective competitiveness and deepen their comprehensive cooperation partnership, HBIS said.
The two partners have conducted multi-level technical and commercial discussions on the auto steel project during the first half of 2019 and reached an intention to cooperate at the capital level, it said.
Under the framework of the memorandum, the two firms will leverage advantages in technology and resources to jointly explore the high-end automobile market.
The two steel giants established a comprehensive cooperation partnership in August 2017, to bolster communication and cooperation in the areas of strategic planning, raw materials, technologies, energy conservation and environmental protection.
A regular communication mechanism has been established and fruitful results have been achieved, HBIS said.
HBIS and POSCO are both leading players in the global steel industry.
As the largest steel company in South Korea, POSCO has been rated as the world's most competitive steel enterprise by industry journal World Steel Dynamic (WSD) for 10 consecutive years.
HBIS Group is one of the most internationalized steel companies in China and has become the second largest steel supplier for the automobile sector in the country. The firm is based in Shijiazhuang, the capital of Hebei province.
In 2018, HBIS produced 7 million metric tons of steel for the automobile sector, covering the full range of steel products for an entire vehicle. Those products include structural steel, steel for auto parts, cold rolling and galvanized cold rolling steel products, HBIS said.
HBIS has done outstanding work in stepping into the overseas market, Xu said. In April 2016, the company bought a steel factory in Serbia and realized a profit in several months.
In addition, the company has also established cooperation with companies from the United States and France in some research and development projects.
(Source: China Daily)
HBIS Group Co Ltd is one of China's largest steelmakers.
According to the company, location of the joint venture, which is still under discussion, is expected to be in Tangshan, North China's Hebei province, where HBIS's Laoting cold rolling steel project is located.
The two firms recently signed a memorandum of understanding for the project. The detailed investment scale of the venture was not disclosed because related matters remain under discussion, HBIS said.
Xu Xiangchun, information director and analyst with iron and steel industry consultancy mysteel.com, said the cooperation should be a win-win move for both firms.
"By cooperating with Chinese companies, overseas steelmakers can gain more share in the country's steel market, which is the largest in the world," Xu said, adding Chinese companies can cooperate with foreign steel giants on advanced technologies to improve the competitiveness of their products.
Xu explained that Chinese steelmakers have developed rapidly in recent years, especially in producing high-end steel products.
"Many joint-venture carmakers in the country are increasingly using high-end steel products made by Chinese producers, which have gained significant market share in the field," he said.
The cooperation in the auto steel project will allow the two partners to enhance their respective competitiveness and deepen their comprehensive cooperation partnership, HBIS said.
The two partners have conducted multi-level technical and commercial discussions on the auto steel project during the first half of 2019 and reached an intention to cooperate at the capital level, it said.
Under the framework of the memorandum, the two firms will leverage advantages in technology and resources to jointly explore the high-end automobile market.
The two steel giants established a comprehensive cooperation partnership in August 2017, to bolster communication and cooperation in the areas of strategic planning, raw materials, technologies, energy conservation and environmental protection.
A regular communication mechanism has been established and fruitful results have been achieved, HBIS said.
HBIS and POSCO are both leading players in the global steel industry.
As the largest steel company in South Korea, POSCO has been rated as the world's most competitive steel enterprise by industry journal World Steel Dynamic (WSD) for 10 consecutive years.
HBIS Group is one of the most internationalized steel companies in China and has become the second largest steel supplier for the automobile sector in the country. The firm is based in Shijiazhuang, the capital of Hebei province.
In 2018, HBIS produced 7 million metric tons of steel for the automobile sector, covering the full range of steel products for an entire vehicle. Those products include structural steel, steel for auto parts, cold rolling and galvanized cold rolling steel products, HBIS said.
HBIS has done outstanding work in stepping into the overseas market, Xu said. In April 2016, the company bought a steel factory in Serbia and realized a profit in several months.
In addition, the company has also established cooperation with companies from the United States and France in some research and development projects.
(Source: China Daily)
10 December 2019
China's weekly export container shipping index drops
China's index of export container transport dropped in the past week, according to the Shanghai Shipping Exchange.
The average China Containerized Freight Index (CCFI) stood at 822.72, down 0.3 percent from a week earlier, according to the exchange.
The CCFI tracks spot and contractual freight rates from Chinese container ports for 14 shipping routes across the globe, based on data from 22 international carriers.
The index was set at 1,000 on Jan 1, 1998.
The average China Containerized Freight Index (CCFI) stood at 822.72, down 0.3 percent from a week earlier, according to the exchange.
The CCFI tracks spot and contractual freight rates from Chinese container ports for 14 shipping routes across the globe, based on data from 22 international carriers.
The index was set at 1,000 on Jan 1, 1998.
China railways see steady cargo growth
China's railway network registered steady growth in cargo transport in the first 11 months of the year, data from the China State Railway Group Co Ltd showed.
The country's State-operated railways handled over 3.12 billion tons of cargo in the past 11 months, up 6.8 percent year-on-year.
During the period, the average number of daily loaded cargo trains expanded 10.8 percent to around 167,700.
The group is expected to reach a cumulative cargo growth of 500 million tons in 2018 and 2019, according to the company.
China aims to increase its total railway cargo volume by 30 percent from 2017 level to reach about 4.8 billion tons in 2020, a three-year government action plan unveiled last year said.
The country's State-operated railways handled over 3.12 billion tons of cargo in the past 11 months, up 6.8 percent year-on-year.
During the period, the average number of daily loaded cargo trains expanded 10.8 percent to around 167,700.
The group is expected to reach a cumulative cargo growth of 500 million tons in 2018 and 2019, according to the company.
China aims to increase its total railway cargo volume by 30 percent from 2017 level to reach about 4.8 billion tons in 2020, a three-year government action plan unveiled last year said.
09 December 2019
China's BYD wins large electric bus order in Netherlands
China's leading new energy vehicle manufacturer BYD cut a deal on Friday to provide 259 electric buses for the Netherlands, the largest single order the Chinese company has ever landed in Europe.
The deal was made with Keolis Nederland BV, the Dutch subsidiary of global public transport provider Keolis.
"This is a momentous occasion for BYD and also represents a huge commitment to electric mobility since it becomes the largest European fleet ever switched to electric at one time," said Isbrand Ho, managing director of BYD Europe, adding that his company has worked tirelessly with Keolis to provide a complete transport solution.
Under the deal, 259 pure-electric, emissions-free buses will be delivered from next summer and enter service from the end of 2020, according to BYD.
Frank Janssen, CEO of Keolis Nederland, voiced his confidence in BYD's products, saying "We've chosen BYD due to our excellent experience with their e-buses... Furthermore we trust BYD's expertise as a manufacturer in developing and maintaining battery-packages."
"It is another milestone for Keolis Nederland and the Keolis Group in developing and deploying electro-mobility solutions around the world and it reaffirms our commitment to supporting public transport authorities in the transition to sustainability," he added.
BYD won its first European order in 2012 to supply six eBuses to the Dutch national park island of Schiermonnikoog. So far, it has made deliveries and taken orders in nearly 60 cities and more than 10 countries, according to the company.
(Source: Xinhua)
The deal was made with Keolis Nederland BV, the Dutch subsidiary of global public transport provider Keolis.
"This is a momentous occasion for BYD and also represents a huge commitment to electric mobility since it becomes the largest European fleet ever switched to electric at one time," said Isbrand Ho, managing director of BYD Europe, adding that his company has worked tirelessly with Keolis to provide a complete transport solution.
Under the deal, 259 pure-electric, emissions-free buses will be delivered from next summer and enter service from the end of 2020, according to BYD.
Frank Janssen, CEO of Keolis Nederland, voiced his confidence in BYD's products, saying "We've chosen BYD due to our excellent experience with their e-buses... Furthermore we trust BYD's expertise as a manufacturer in developing and maintaining battery-packages."
"It is another milestone for Keolis Nederland and the Keolis Group in developing and deploying electro-mobility solutions around the world and it reaffirms our commitment to supporting public transport authorities in the transition to sustainability," he added.
BYD won its first European order in 2012 to supply six eBuses to the Dutch national park island of Schiermonnikoog. So far, it has made deliveries and taken orders in nearly 60 cities and more than 10 countries, according to the company.
(Source: Xinhua)
Chinese major software developers to jointly build operating system
China Standard Software Co., Ltd. (CS2C) and Tianjin Kylin Information Ltd. Co. (TKC) will jointly build a domestic operating system, according to China Electronics Corporation.
It is an urgent need to develop a domestic independent operating system with a unified technical system and ecosystem to provide better user experience, said He Wenzhe, a chief financial officer of China National Software and Service Co., Ltd.
The NeoKylin Linux operating system developed by CS2C and the Kylin server operating system developed by TKC are the two most important domestic operating systems in the market. The logo of the two systems is Kylin, an auspicious animal in Chinese culture.
The NeoKylin Linux operating system fully supports mainstream open hardware platforms at home and abroad, covering the server version and the desktop version, and it is compatible with more than 4,000 software and hardware products, said Han Naiping, general manager of CS2C.
After more than 10 years of development, the Kylin server operating system has formed three series of operating system products including a server, desktop and embedded products, as well as Kylin Cloud and Big Data.
The system has nearly 100 software copyrights and patents, and has core competitiveness in the fields of independent security products and technologies, said Kong Jinzhu, general manager of TKC.
At present, the two enterprises' products have been widely used and recognized in finance, energy, transportation, health care and other industries.
The two enterprises jointly won the first prize in the 2018 National Science and Technology Progress Award.
After the operating system was jointly built, the research advantages and innovation resources can form a joint force. With the expanded scale, the operating system products can be deeply integrated with each CPU faster and better, which can further meet users' needs and promote product innovation.
(Source: Xinhua)
It is an urgent need to develop a domestic independent operating system with a unified technical system and ecosystem to provide better user experience, said He Wenzhe, a chief financial officer of China National Software and Service Co., Ltd.
The NeoKylin Linux operating system developed by CS2C and the Kylin server operating system developed by TKC are the two most important domestic operating systems in the market. The logo of the two systems is Kylin, an auspicious animal in Chinese culture.
The NeoKylin Linux operating system fully supports mainstream open hardware platforms at home and abroad, covering the server version and the desktop version, and it is compatible with more than 4,000 software and hardware products, said Han Naiping, general manager of CS2C.
After more than 10 years of development, the Kylin server operating system has formed three series of operating system products including a server, desktop and embedded products, as well as Kylin Cloud and Big Data.
The system has nearly 100 software copyrights and patents, and has core competitiveness in the fields of independent security products and technologies, said Kong Jinzhu, general manager of TKC.
At present, the two enterprises' products have been widely used and recognized in finance, energy, transportation, health care and other industries.
The two enterprises jointly won the first prize in the 2018 National Science and Technology Progress Award.
After the operating system was jointly built, the research advantages and innovation resources can form a joint force. With the expanded scale, the operating system products can be deeply integrated with each CPU faster and better, which can further meet users' needs and promote product innovation.
(Source: Xinhua)
China's foreign trade expands 2.4 pct in first 11 months
China's foreign trade registered steady growth in the first 11 months of 2019 by expanding 2.4 percent year on year, the General Administration of Customs (GAC) said Sunday.
During the period, the total foreign trade volume reached 28.5 trillion yuan (4.14 trillion U.S. dollars).
Exports climbed 4.5 percent year on year to 15.55 trillion yuan, while imports hit 12.95 trillion yuan, the data showed.
China saw its trade surplus widen by 34.9 percent year on year to 2.6 trillion yuan during the period.
In November, China's foreign trade amounted to 2.86 trillion yuan, up 1.8 percent year on year.
Despite global economic and trade slowdown, China's foreign trade still maintained stable growth this year, showing the resilience of the Chinese economy, said Li Kuiwen, director of the GAC's statistics and analysis department.
Imports gained 2.5 percent to 1.29 trillion yuan last month, compared with a 3.5-percent decline in October.
"The improving import data in November reflected a pickup in domestic demand," Li added.
China's trade with the EU and ASEAN expanded, while trade with countries along the Belt and Road reported faster growth than the overall average.
Trade with the Belt and Road countries rose 9.9 percent to 8.35 trillion yuan from January to November, accounting for 29.3 percent of the total trade.
Private companies, already the primary body of China's foreign trade, continued to play an even bigger part with foreign trade volume of 12.12 trillion yuan in the first 11 months, up 10.4 percent year on year.
Exports of machinery and electronic products grew 4 percent to reach 9.09 trillion yuan during the first 11 months, accounting for 58.4 percent of the country's total exports.
Exports of six categories of labor-intensive goods including footwear, toys and suitcases rose 5.7 percent to 2.99 trillion yuan during the period.
Sunday's data also showed that China's crude oil imports climbed 10.5 percent to 462 million tonnes during the period, while imports of coal and natural gas increased by 10.2 percent and 7.4 percent, respectively. The soybean imports, however, fell 4.1 percent to 78.97 million tonnes.
The government has repeatedly pledged efforts to keep foreign trade stable. The State Council confirmed 12 measures in an executive meeting on Oct. 23 to optimize forex management and promote cross-border trade and investment facilitation, including expanding the pilot project to facilitate forex receipts and payments.
(Source: Xinhua)
China national oil and gas pipeline network launched
China on Monday officially launched its long-planned national oil and gas pipeline network company, as part of the country's ongoing oil and gas reforms to help meet the nation's increasing energy needs.
The newly-formed national pipeline company reportedly will be one among the many central State-owned companies under the State-owned Assets Supervision and Administration Commission of the State Council.
Combining the pipeline assets of the country's big three State-owned energy giants - China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, the creation of the new company will help foster a more competitive environment for all players in the sector.
The establishment of the new company is also a key step towards the marketization of China's oil and gas pipeline industry. It is also a key measure conducive to the separation of oil and gas transportation and marketing, which will have an important impact on China's current oil and gas market mechanism
In fact, the creation of a national oil and gas company has been under consideration for years. Now the Chinese government is dedicated to continuously promoting oil and gas pipeline network reforms, enhancing the high-level openness in the market and encouraging full competition for all market players.
Experts said the creation of the new company shows the government's determination to widen the reforms, which will help improve the efficiency of oil and gas resource allocation and ensure the safe and stable supply of energy.
By separating the pipeline business from sales, the guideline is likely to bring more social capital to the construction of pipelines, and allow upstream and downstream participants more access to the infrastructure.
In recent years, China has seen rapid development of the construction of the natural gas pipeline network. By the end of 2018, the country had 76,000 kilometers of long-distance pipelines carrying natural gas, with a capacity of more than 280 billion cubic meters of natural gas per year, according to Liu Manping, an expert from the China Oil and Gas Industry Think Tank Alliance.
(Source: China Daily)
The newly-formed national pipeline company reportedly will be one among the many central State-owned companies under the State-owned Assets Supervision and Administration Commission of the State Council.
Combining the pipeline assets of the country's big three State-owned energy giants - China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, the creation of the new company will help foster a more competitive environment for all players in the sector.
The establishment of the new company is also a key step towards the marketization of China's oil and gas pipeline industry. It is also a key measure conducive to the separation of oil and gas transportation and marketing, which will have an important impact on China's current oil and gas market mechanism
In fact, the creation of a national oil and gas company has been under consideration for years. Now the Chinese government is dedicated to continuously promoting oil and gas pipeline network reforms, enhancing the high-level openness in the market and encouraging full competition for all market players.
Experts said the creation of the new company shows the government's determination to widen the reforms, which will help improve the efficiency of oil and gas resource allocation and ensure the safe and stable supply of energy.
By separating the pipeline business from sales, the guideline is likely to bring more social capital to the construction of pipelines, and allow upstream and downstream participants more access to the infrastructure.
In recent years, China has seen rapid development of the construction of the natural gas pipeline network. By the end of 2018, the country had 76,000 kilometers of long-distance pipelines carrying natural gas, with a capacity of more than 280 billion cubic meters of natural gas per year, according to Liu Manping, an expert from the China Oil and Gas Industry Think Tank Alliance.
(Source: China Daily)
01 December 2019
China's crude oil output up 0.3 pct in October
China's crude oil output grew 0.3 percent year on year in October, a slower increase than the 2.9-percent rate registered in September, official data showed.
The country's crude oil output came in at 16.19 million tonnes last month, bringing the total in the first 10 months to 159.29 million tonnes, according to the National Development and Reform Commission.
China processed about 52.13 million tonnes of crude oil in October, up 4.1 percent year on year, the data showed.
China aims to increase its annual domestic crude oil output to more than 200 million tonnes by 2020. The output in 2018 stood at 190 million tonnes.
The country's crude oil output came in at 16.19 million tonnes last month, bringing the total in the first 10 months to 159.29 million tonnes, according to the National Development and Reform Commission.
China processed about 52.13 million tonnes of crude oil in October, up 4.1 percent year on year, the data showed.
China aims to increase its annual domestic crude oil output to more than 200 million tonnes by 2020. The output in 2018 stood at 190 million tonnes.
John Deere lowers outlook for 2020
John Deere, the world's leading tractor maker, has reported less quarterly earnings and lowered its 2020 sales outlook amid prolonged trade tensions between the United States and its key trade partners.
The Illinois-based farm and construction equipment maker, reported on Wednesday net income of $722 million for the fourth fiscal quarter that ended Nov 3. That's an 8 percent decline year-on-year, compared to $785 million for the same period of 2018.
The Illinois-based farm and construction equipment maker, reported on Wednesday net income of $722 million for the fourth fiscal quarter that ended Nov 3. That's an 8 percent decline year-on-year, compared to $785 million for the same period of 2018.
China's logistics sector continues steady growth
China's logistics industry continued to post steady growth in the first 10 months of this year, official data showed.
The total value of social logistics in the January-October period grew 5.8 percent year on year to 244.4 trillion yuan ($34.7 trillion), said the China Federation of Logistics and Purchasing (CFLP).
The Logistics Performance Index stood at 54.2 percent in October, up 0.4 percentage points from September, according to the CFLP.
The total value of social logistics in the January-October period grew 5.8 percent year on year to 244.4 trillion yuan ($34.7 trillion), said the China Federation of Logistics and Purchasing (CFLP).
The Logistics Performance Index stood at 54.2 percent in October, up 0.4 percentage points from September, according to the CFLP.
28 November 2019
Over 84% companies in China are private
The number of private companies accounted for 84.1 percent of all enterprises in 2018 in China, the National Bureau of Statistics said on Wednesday.
China had 15.61 million private companies by the end of 2018, up 178.6 percent from 10.01 million by the end of 2013, according to the fourth national economic census report.
Statistics show China had 242,000 State-controlled enterprises by the end of 2018, up 10.9 percent from 24,000 by the end of 2013.
State-controlled enterprises remained the backbone of national economic development, with the number of employees accounting for 15.7 percent of the total, though the number of State-controlled companies only accounted for 1.3 percent of the total, the report said.
China's proportion of legal entities in the tertiary industry has increased steadily with 17.16 million, accounting for 78.8 percent of the total by the end of 2018, up 4.1 percentage points from the end of 2013.
About 210.68 million people worked at legal entities in the tertiary industry, accounting for 55 percent of the total, up 9.1 percentage points than the end of 2013.
The number of companies in emerging industries grew rapidly, especially those in information transmission, software and information technology services, construction, scientific research and technology services, leasing and business services.
(Source: China Daily)
China had 15.61 million private companies by the end of 2018, up 178.6 percent from 10.01 million by the end of 2013, according to the fourth national economic census report.
Statistics show China had 242,000 State-controlled enterprises by the end of 2018, up 10.9 percent from 24,000 by the end of 2013.
State-controlled enterprises remained the backbone of national economic development, with the number of employees accounting for 15.7 percent of the total, though the number of State-controlled companies only accounted for 1.3 percent of the total, the report said.
China's proportion of legal entities in the tertiary industry has increased steadily with 17.16 million, accounting for 78.8 percent of the total by the end of 2018, up 4.1 percentage points from the end of 2013.
About 210.68 million people worked at legal entities in the tertiary industry, accounting for 55 percent of the total, up 9.1 percentage points than the end of 2013.
The number of companies in emerging industries grew rapidly, especially those in information transmission, software and information technology services, construction, scientific research and technology services, leasing and business services.
(Source: China Daily)
Beijing's tallest landmark passes another milestone
CITIC Tower, the tallest landmark in Beijing, has successfully passed the final acceptance of construction last week, according to the CITIC Group official website.
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| Photo: CITIC |
The construction of CITIC Tower began on July 29, 2013, and was completed on December 28, 2018, since then it has entered the process of final acceptance of construction.
The building, which is spread over 437,000 square meters, is located in the core area of the Central Business District in Beijing. With height of 528 meters, it has 108 floors above ground and seven underground, and the building will mainly be used for office and sightseeing.
CITIC Group said passing the final acceptance of construction is a milestone for CITIC Tower, marking a successful completion of the project and bridging "the last mile" from development and construction to operation and maintenance management.
Designed by international design firm Gensler, the 632-meter-tall, 132-story skyscraper Shanghai Tower is the tallest building in China, also the second-tallest building in the world.
CITIC Group, founded in 1979, has become a large multinational conglomerate with a wide range of businesses covering finance, energy and resources, manufacturing, engineering contracting, real estate and information industry.
In August 2014, CITIC Group injected its majority assets into CITIC Pacific, its Hong Kong-listed subsidiary, which was sequentially renamed CITIC Limited.
(Source: China Daily)
Leica Microsystems opens innovation center in east China city
Leica Microsystems, a leading German optical technology and product manufacturer, opened an innovation center Tuesday in the city of Suzhou, east China's Jiangsu Province.
Located in Suzhou Industrial Park, the center covers a floor space of 500 square meters. It is expected to develop high-quality and cutting-edge products for the Chinese and global markets, driving the company's sales up to an estimated 200 million U.S. dollars over the next five years.
"We are attracted by the prospects of China's economy and the huge market potential here," said Gordon Chen, marketing director of Leica Microsystems China.
Since it entered China in 1995, Leica Microsystems has established seven branches. Chen said the company hopes to rely on China's innovation capabilities to develop advanced digital microscopes.
(Source: Xinhua)
Located in Suzhou Industrial Park, the center covers a floor space of 500 square meters. It is expected to develop high-quality and cutting-edge products for the Chinese and global markets, driving the company's sales up to an estimated 200 million U.S. dollars over the next five years.
"We are attracted by the prospects of China's economy and the huge market potential here," said Gordon Chen, marketing director of Leica Microsystems China.
Since it entered China in 1995, Leica Microsystems has established seven branches. Chen said the company hopes to rely on China's innovation capabilities to develop advanced digital microscopes.
(Source: Xinhua)
2019 China Healthcare Products Expo held in Jakarta
China's prestigious Healthcare Products Expo (CHEXPO ASEAN) is coming back for its second time in Jakarta from Wednesday to Friday, to promote and enhance cooperation between China and Southeast Asian countries in the pharmaceutical and medical sectors after succeeding in last year's exhibition.
27 November 2019
Israeli researchers develop joint treatment for Alzheimer's, autism
Israeli researchers have developed a joint treatment for autistic and Alzheimer's patients, Tel Aviv University (TAU) said Tuesday.
In a study led by TAU researchers and published in the journal Molecular Psychiatry, the team discovered a high overlap in Alzheimer's genes undergoing mutations with genes that impact autism and intellectual disability.
This overlap was unveiled by comparing samples taken from Alzheimer's patients after their death to previous findings on autism-related mutations.
It was found that about 40 percent of the mutations in the disease-causing genes identified in Alzheimer's patients have also been detected in children with autism and intellectual disability.
Then, the researchers focused on mutations in the ADNP gene, which has an important role in brain development in the fetus and in protecting the structure of the brain nerve cells.
This gene causes the ADNP syndrome, which leads to autism and intellectual disability, and is also linked to Alzheimer's, as its function is linked to the Tau protein that is damaged in Alzheimer's patients.
This protein binds to the nerve cell skeleton in the brain and stabilizes the cell structure.
Using genetic engineering, the researchers found that the mutation in the ADNP caused impairment of Tau attachment to the nerve cell skeleton, resulting in a weakening of the cell skeleton.
Finally, the team found that treatment with a shortened segment of ADNP protein, called NAP, protects the nerve cell skeletal structure from the harmful effect of the mutations, and therefore may help Alzheimer's and autistic patients.
(Source: Xinhua)
In a study led by TAU researchers and published in the journal Molecular Psychiatry, the team discovered a high overlap in Alzheimer's genes undergoing mutations with genes that impact autism and intellectual disability.
This overlap was unveiled by comparing samples taken from Alzheimer's patients after their death to previous findings on autism-related mutations.
It was found that about 40 percent of the mutations in the disease-causing genes identified in Alzheimer's patients have also been detected in children with autism and intellectual disability.
Then, the researchers focused on mutations in the ADNP gene, which has an important role in brain development in the fetus and in protecting the structure of the brain nerve cells.
This gene causes the ADNP syndrome, which leads to autism and intellectual disability, and is also linked to Alzheimer's, as its function is linked to the Tau protein that is damaged in Alzheimer's patients.
This protein binds to the nerve cell skeleton in the brain and stabilizes the cell structure.
Using genetic engineering, the researchers found that the mutation in the ADNP caused impairment of Tau attachment to the nerve cell skeleton, resulting in a weakening of the cell skeleton.
Finally, the team found that treatment with a shortened segment of ADNP protein, called NAP, protects the nerve cell skeletal structure from the harmful effect of the mutations, and therefore may help Alzheimer's and autistic patients.
(Source: Xinhua)
Toyota to recall over 12,000 Alphard cars in China
Japanese automaker Toyota will begin recalling a total of 12,637 imported Alphard cars from Dec. 29, due to defective charging control programs, according to China's market regulator.
Filed by Toyota Motor (China) Investment Co., the recall will involve imported Alphard models manufactured between Dec. 11, 2017 and March 29, 2019, the State Administration of Market Regulation said in a statement.
Due to defective charging control programs in the engine control computer, the battery might suffer abnormal deterioration and the engine may not be re-started after shutdown in some circumstances, which will pose safety risks, said the administration.
The company said it will rectify the programs, check batteries on the affected vehicles and replace the defective parts free of charge.
(Source: Xinhua)
Filed by Toyota Motor (China) Investment Co., the recall will involve imported Alphard models manufactured between Dec. 11, 2017 and March 29, 2019, the State Administration of Market Regulation said in a statement.
Due to defective charging control programs in the engine control computer, the battery might suffer abnormal deterioration and the engine may not be re-started after shutdown in some circumstances, which will pose safety risks, said the administration.
The company said it will rectify the programs, check batteries on the affected vehicles and replace the defective parts free of charge.
(Source: Xinhua)
Daimler Truck acquires 15 pct of Russian truck maker Kamaz
Daimler Truck AG, a subsidiary of German automaker Daimler AG, has acquired a 15-percent stake in Russian truck maker Kamaz.
The transaction took place on Nov. 15, according to a Kamaz statement on Monday, without elaborating.
Kamaz is Russia's top producer of heavy cargo trucks. It also manufactures a broad spectrum of other commercial vehicles, including diesel, gasoline and electric-powered buses.
Russian state-run conglomerate Rostec is Kamaz's largest shareholder. Another big owner is Avtoinvest company, which is controlled by a group of Russian business people and bankers.
The transaction took place on Nov. 15, according to a Kamaz statement on Monday, without elaborating.
Kamaz is Russia's top producer of heavy cargo trucks. It also manufactures a broad spectrum of other commercial vehicles, including diesel, gasoline and electric-powered buses.
Russian state-run conglomerate Rostec is Kamaz's largest shareholder. Another big owner is Avtoinvest company, which is controlled by a group of Russian business people and bankers.
Medical device maker eyes bigger presence with new clinical training center
Medtronic Plc is setting up a world-class clinical training center in China next year, as the global medical device maker looks to further tap into the growing Chinese market.
The clinical training center will be in Chengdu, Southwest China's Sichuan province, and will be the company's second in the country after one in Shanghai, which was set up in 2005.
The clinical training center in Chengdu aims to offer a platform for medical technology clinical training and research and development for medical practitioners in Sichuan and other regions in central and western China.
"We are fully aware of the role that grassroots-level doctors have in furthering the popularization and innovation of medical services. Medtronic is looking to support Chinese physicians' capability enhancement, and help them better adapt to medical technology advancement, so that they can serve more patients with stronger professional abilities, and the goal of a healthy society can be achieved sooner," said Omar Ishrak, chairman and chief executive officer of Medtronic.
The clinical training of China's medical professionals had been enhanced in recent years. However, the training is still insufficient in some regions, especially in central and western China. A survey conducted by People's Daily showed that due to training differences, the average maturity period for Chinese doctors is 10 years more than that of the doctors in developed countries.
According to Medtronic, after being put into operation, within five years, the clinical training center in Chengdu will start training 7,000 medical professionals every year. Meanwhile, combining efforts from the company's other training centers worldwide, it will boost academic exchanges and joint innovation among medical institutions and professionals.
Liu Liedong, vice-mayor of Chengdu, said: "Chengdu has been actively incubating medical innovation and building an open and practical innovative environment. We look forward to having more international platforms in Chengdu, to transform clinical applications and technologies into more valuable medical services."
"In the foreseeable future, China is set to become the largest healthcare market in the world. Medtronic is committed to alleviating pain, restoring health and extending lives of people in China. This is also the reason why we have launched the clinical training centers in China," said Alex Gu, Medtronic senior vice-president and president of Medtronic China.
This year marks the 30th anniversary of Medtronic in China. Over the past three decades, the company has introduced more than 500 innovative medical technology products that address the needs of Chinese physicians and patients.
During the recent China International Import Expo in Shanghai, Medtronic launched the world's smallest leadless pacemaker. Less than 10 percent of the size of a conventional cardiac pacemaker and weighing only 2 grams, the device for arrhythmia patients makes it possible for a pacemaker to be implanted directly into the patient's heart via an applicator inserted into the upper leg, and without a chest incision or scars, a blessing for Chinese arrhythmia sufferers.
"China holds the promise to become a primary source of many next-generation medical technologies. Medtronic is determined to capture the opportunity through continued investments in local R&D capabilities and technology partnerships, as we believe technology has greater potential in addressing unmet medical needs - which will therefore drive our business presence," said Gu.
Currently, Medtronic has a Medtronic Innovation Accelerator in Shanghai, which was designed as a platform to help medical technology startups speed up conversion of their innovative ideas to marketable products. Its Medtronic-SJTU Joint Laboratory, the first Medtronic technology partnership with a top Chinese university, was set up in March, aiming at advancing research in medical application of artificial intelligence.
"We are committed to working with our partners to accelerate innovation and expand healthcare access in China, and ultimately help more Chinese patients," Gu said.
Consultancy firm Boston Consulting Group said in a report that the Chinese medtech market, buoyed by the strength of the overall healthcare sector, will post a compound annual growth rate of 14 percent between 2013 and 2020, expanding from $22 billion in annual revenues to $55 billion. Almost all product categories will experience double-digit growth, with some - such as orthopedics and minimally invasive surgical devices - growing even faster.
According to Medtronic's report on the fiscal year of 2019, which ended on April 26, revenue from emerging markets, including China, was $4.7 billion, up 12.7 percent year-on-year.
(Story: China Daily)
The clinical training center will be in Chengdu, Southwest China's Sichuan province, and will be the company's second in the country after one in Shanghai, which was set up in 2005.
The clinical training center in Chengdu aims to offer a platform for medical technology clinical training and research and development for medical practitioners in Sichuan and other regions in central and western China.
"We are fully aware of the role that grassroots-level doctors have in furthering the popularization and innovation of medical services. Medtronic is looking to support Chinese physicians' capability enhancement, and help them better adapt to medical technology advancement, so that they can serve more patients with stronger professional abilities, and the goal of a healthy society can be achieved sooner," said Omar Ishrak, chairman and chief executive officer of Medtronic.
The clinical training of China's medical professionals had been enhanced in recent years. However, the training is still insufficient in some regions, especially in central and western China. A survey conducted by People's Daily showed that due to training differences, the average maturity period for Chinese doctors is 10 years more than that of the doctors in developed countries.
According to Medtronic, after being put into operation, within five years, the clinical training center in Chengdu will start training 7,000 medical professionals every year. Meanwhile, combining efforts from the company's other training centers worldwide, it will boost academic exchanges and joint innovation among medical institutions and professionals.
Liu Liedong, vice-mayor of Chengdu, said: "Chengdu has been actively incubating medical innovation and building an open and practical innovative environment. We look forward to having more international platforms in Chengdu, to transform clinical applications and technologies into more valuable medical services."
"In the foreseeable future, China is set to become the largest healthcare market in the world. Medtronic is committed to alleviating pain, restoring health and extending lives of people in China. This is also the reason why we have launched the clinical training centers in China," said Alex Gu, Medtronic senior vice-president and president of Medtronic China.
This year marks the 30th anniversary of Medtronic in China. Over the past three decades, the company has introduced more than 500 innovative medical technology products that address the needs of Chinese physicians and patients.
During the recent China International Import Expo in Shanghai, Medtronic launched the world's smallest leadless pacemaker. Less than 10 percent of the size of a conventional cardiac pacemaker and weighing only 2 grams, the device for arrhythmia patients makes it possible for a pacemaker to be implanted directly into the patient's heart via an applicator inserted into the upper leg, and without a chest incision or scars, a blessing for Chinese arrhythmia sufferers.
"China holds the promise to become a primary source of many next-generation medical technologies. Medtronic is determined to capture the opportunity through continued investments in local R&D capabilities and technology partnerships, as we believe technology has greater potential in addressing unmet medical needs - which will therefore drive our business presence," said Gu.
Currently, Medtronic has a Medtronic Innovation Accelerator in Shanghai, which was designed as a platform to help medical technology startups speed up conversion of their innovative ideas to marketable products. Its Medtronic-SJTU Joint Laboratory, the first Medtronic technology partnership with a top Chinese university, was set up in March, aiming at advancing research in medical application of artificial intelligence.
"We are committed to working with our partners to accelerate innovation and expand healthcare access in China, and ultimately help more Chinese patients," Gu said.
Consultancy firm Boston Consulting Group said in a report that the Chinese medtech market, buoyed by the strength of the overall healthcare sector, will post a compound annual growth rate of 14 percent between 2013 and 2020, expanding from $22 billion in annual revenues to $55 billion. Almost all product categories will experience double-digit growth, with some - such as orthopedics and minimally invasive surgical devices - growing even faster.
According to Medtronic's report on the fiscal year of 2019, which ended on April 26, revenue from emerging markets, including China, was $4.7 billion, up 12.7 percent year-on-year.
(Story: China Daily)
Volkswagen China to invest over 4b euros in 2020
Volkswagen Group China and its partners plan to invest over 4 billion euros ($4.4 billion) in China in 2020, with 40 percent of the investment in the electric vehicle field, including manufacturing, infrastructure construction and R&D, the company said.
In the next few years, the automaker is expected to invest more in electric vehicles than petrol vehicles. It aims to deliver 30 types of new energy vehicles in the Chinese market before 2025, with a sales target of 1.5 million vehicles.
Stephan Wollenstein, CEO of Volkswagen Group China, said China's success in electric mobility would be the core driving force to realize automakers' sustainable development goals.
In 2020, pure electric vehicles will be put into production in two new plants of FAW-Volkswagen and SAIC Volkswagen, with a combined annual production capacity of 600,000 vehicles.
Volkswagen Group China delivered a total of 3.34 million vehicles to Chinese customers in the first 10 months of this year, and more than 42 million vehicles in total since entering the Chinese market.
(Source: China Daily)
In the next few years, the automaker is expected to invest more in electric vehicles than petrol vehicles. It aims to deliver 30 types of new energy vehicles in the Chinese market before 2025, with a sales target of 1.5 million vehicles.
Stephan Wollenstein, CEO of Volkswagen Group China, said China's success in electric mobility would be the core driving force to realize automakers' sustainable development goals.
In 2020, pure electric vehicles will be put into production in two new plants of FAW-Volkswagen and SAIC Volkswagen, with a combined annual production capacity of 600,000 vehicles.
Volkswagen Group China delivered a total of 3.34 million vehicles to Chinese customers in the first 10 months of this year, and more than 42 million vehicles in total since entering the Chinese market.
(Source: China Daily)
25 November 2019
Subaru to recall 17,479 vehicles in China
Japanese automaker Subaru will recall 17,479 vehicles sold in the Chinese market over safety hazards, said China's market regulator.
The recall, set to begin on Dec 2, affects 10,487 Foresters manufactured between Sept 3, 2018 and June 19, 2019, according to a statement posted on the website of the State Administration for Market Regulation.
Meanwhile, 6,992 XV models produced between Aug 9, 2017 and Aug 1, 2019, would be recalled.
A defective program in these cars's engine control unit might cause a short circuit and lead to unintended engine stop, posing saftey risks, said the statement.
Subaru will check and fix the defective parts of affected vehicles free of charge, and replace them, if necessary.
(Source: China Daily)
The recall, set to begin on Dec 2, affects 10,487 Foresters manufactured between Sept 3, 2018 and June 19, 2019, according to a statement posted on the website of the State Administration for Market Regulation.
Meanwhile, 6,992 XV models produced between Aug 9, 2017 and Aug 1, 2019, would be recalled.
A defective program in these cars's engine control unit might cause a short circuit and lead to unintended engine stop, posing saftey risks, said the statement.
Subaru will check and fix the defective parts of affected vehicles free of charge, and replace them, if necessary.
(Source: China Daily)
Lundbeck sees healthcare sector exhibiting resilience
Deborah Dunsire, president and CEO of multinational pharmaceutical company Lundbeck A/S, expects more business opportunities to unfold rapidly in China, the second-largest market for the company.
"As the government focuses on expanding healthcare and introducing more primary care in rural areas, and access to innovation, we feel we are a great fit for China," she said.
A world player in psychiatric and neurological disorders, the Copenhagen-headquartered company launched its first drug in the China market through cooperation with local partners in the late 1990s, for the treatment of mild to moderate depression and anxiety.
Since then, Lundbeck has launched a series of novel drugs in China for a myriad of diseases such as depression, Alzheimer's disease, Parkinson's disease, and major depressive disorders. It founded a China branch in 2007. About one in four patients with depression in China is treated with a Lundbeck branded medication, and the China market is growing rapidly for the company, although it is still significantly smaller than the US market.
During her recent visit to Beijing, China Daily talked to the pharmaceutical company's new female leader about the China market, and how she views the Chinese economy, globalization and female leadership.
(Source: China Daily)
"As the government focuses on expanding healthcare and introducing more primary care in rural areas, and access to innovation, we feel we are a great fit for China," she said.
A world player in psychiatric and neurological disorders, the Copenhagen-headquartered company launched its first drug in the China market through cooperation with local partners in the late 1990s, for the treatment of mild to moderate depression and anxiety.
Since then, Lundbeck has launched a series of novel drugs in China for a myriad of diseases such as depression, Alzheimer's disease, Parkinson's disease, and major depressive disorders. It founded a China branch in 2007. About one in four patients with depression in China is treated with a Lundbeck branded medication, and the China market is growing rapidly for the company, although it is still significantly smaller than the US market.
During her recent visit to Beijing, China Daily talked to the pharmaceutical company's new female leader about the China market, and how she views the Chinese economy, globalization and female leadership.
(Source: China Daily)
China's railways report steady passenger, cargo growth in first 10 months
China's railway networks registered steady expansion in passenger and cargo transport in the first 10 months of the year, official data showed.
A total of 3.13 billion passenger trips were made during the January-October period, up 8.9 percent year-on-year, according to the Ministry of Transport (MOT).
The country's railways carried 3.60 billion tons of cargo from January to October, up 6.5 percent from the same period last year.
China aims to increase its total railway cargo volume by 30 percent from 2017 levels to reach about 4.8 billion tons in 2020.
Freight turnover operated by the country's railways rose 3.7 percent year-on-year to 2.47 trillion ton-kilometers in the first 10 months, said the MOT.
In October alone, the railways operated 319.03 million passenger trips while transporting 395.37 million tons of cargo, reporting a yearly growth of 4.7 percent and 9.4 percent, respectively.
A total of 3.13 billion passenger trips were made during the January-October period, up 8.9 percent year-on-year, according to the Ministry of Transport (MOT).
The country's railways carried 3.60 billion tons of cargo from January to October, up 6.5 percent from the same period last year.
China aims to increase its total railway cargo volume by 30 percent from 2017 levels to reach about 4.8 billion tons in 2020.
Freight turnover operated by the country's railways rose 3.7 percent year-on-year to 2.47 trillion ton-kilometers in the first 10 months, said the MOT.
In October alone, the railways operated 319.03 million passenger trips while transporting 395.37 million tons of cargo, reporting a yearly growth of 4.7 percent and 9.4 percent, respectively.
Over 2K runners take part in Shanghai vertical marathon
More than 2,000 participants attended the FESCO Adecco 2019 Shanghai Tower International Vertical Marathon in Shanghai Tower on Sunday.
As the world's highest vertical marathon in 2019, three groups of athletes from home and abroad reached the top of Shanghai and the whole event lasted for 11 hours and 30 minutes, creating two records, the number of participants and duration of a single event for the international vertical marathon.
Co-organized by Shanghai Sports Federation, Shanghai Tower, and Shanghai Lujiazui Financial City Development Bureau and sponsored by FESCO Adecco, FESCO Adecco 2019 Shanghai Tower International Vertical Marathon has been held for three consecutive years. With a vertical height of 552 meters and 3,398 steps in all, the finishing line of this year's competition was set on the 119th floor of the Shanghai Tower.
As the world's highest vertical marathon in 2019, three groups of athletes from home and abroad reached the top of Shanghai and the whole event lasted for 11 hours and 30 minutes, creating two records, the number of participants and duration of a single event for the international vertical marathon.
Co-organized by Shanghai Sports Federation, Shanghai Tower, and Shanghai Lujiazui Financial City Development Bureau and sponsored by FESCO Adecco, FESCO Adecco 2019 Shanghai Tower International Vertical Marathon has been held for three consecutive years. With a vertical height of 552 meters and 3,398 steps in all, the finishing line of this year's competition was set on the 119th floor of the Shanghai Tower.
Guizhou announces travel discounts for winter
Southwest China's Guizhou province has rolled out discount travel packages to attract more tourists during the winter season.
The packages, which are valid from Dec 1 to Feb 28, include 50 percent discounts on tickets to more than 200 class-A scenic spots and bargains for local specialties and products like Moutai liquor at 43 authorized retailers in airports, railway stations and tourist destinations.
Guizhou was among Lonely Planet's top 10 regions to visit in 2020.
The packages, which are valid from Dec 1 to Feb 28, include 50 percent discounts on tickets to more than 200 class-A scenic spots and bargains for local specialties and products like Moutai liquor at 43 authorized retailers in airports, railway stations and tourist destinations.
Guizhou was among Lonely Planet's top 10 regions to visit in 2020.
Bank of China London Branch celebrates 90th Anniversary
Bank of China London Branch celebrated its 90th anniversary here, together with more than 400 attendees from both Britain and China on Friday night.
In 1929, Bank of China set up an office which was named "Bank of China London Agency" in London. It was the first overseas financial institution formed by a Chinese bank.
Bank of China London Branch now has more than 700 employees and total assets of more than 50 billion pounds (64 billion U.S. dollars).
In 1929, Bank of China set up an office which was named "Bank of China London Agency" in London. It was the first overseas financial institution formed by a Chinese bank.
Bank of China London Branch now has more than 700 employees and total assets of more than 50 billion pounds (64 billion U.S. dollars).
BASF launches largest-ever investment project in south China's Guangdong Province
German chemical giant BASF on Saturday officially launched its largest-ever investment project in China, with investment estimated to reach up to 10 billion U.S. dollars upon completion.
Located in the city of Zhanjiang in Guangdong Province -- China's forefront of reform and opening-up, the BASF smart Verbund project will initially include plants to produce engineering plastics and TPU serving a range of key industries.
As the first wholly foreign-funded project in China's heavy chemical industry, the Verbund project, with the first-stage units expected to come on stream in 2022, is a demonstration of the chemical behemoth's ambition to expand further into China, the world's largest market for chemical products.
Donghai Island, in the eastern bay of the Leizhou Peninsula at the southernmost tip of the Chinese mainland, was once a remote and unknown island in the South China Sea. The 286-square-km island only has a sparse population of 270,000 inhabitants. Yet the island has been chosen as the bearer of BASF's ambition to step further into China and Asia.
In the next decade, BASF will build an integrated site with an area of about 9 square km. The site will include steam cracking units with an annual production capacity of 1 million tonnes of ethylene and more than 30 production units that offer consumer market-oriented products and solutions.
These units are concentrated in downstream industries such as petroleum refining byproducts, chemical products and chemical byproducts.
BASF has been deeply involved in the Chinese market for many years. In 2018, BASF sold products worth more than 7.3 billion euros to customers in Greater China and had more than 9,000 employees in the region.
Located in the city of Zhanjiang in Guangdong Province -- China's forefront of reform and opening-up, the BASF smart Verbund project will initially include plants to produce engineering plastics and TPU serving a range of key industries.
As the first wholly foreign-funded project in China's heavy chemical industry, the Verbund project, with the first-stage units expected to come on stream in 2022, is a demonstration of the chemical behemoth's ambition to expand further into China, the world's largest market for chemical products.
Donghai Island, in the eastern bay of the Leizhou Peninsula at the southernmost tip of the Chinese mainland, was once a remote and unknown island in the South China Sea. The 286-square-km island only has a sparse population of 270,000 inhabitants. Yet the island has been chosen as the bearer of BASF's ambition to step further into China and Asia.
In the next decade, BASF will build an integrated site with an area of about 9 square km. The site will include steam cracking units with an annual production capacity of 1 million tonnes of ethylene and more than 30 production units that offer consumer market-oriented products and solutions.
These units are concentrated in downstream industries such as petroleum refining byproducts, chemical products and chemical byproducts.
BASF has been deeply involved in the Chinese market for many years. In 2018, BASF sold products worth more than 7.3 billion euros to customers in Greater China and had more than 9,000 employees in the region.
22 November 2019
Digital tech to boost healthcare industry
With every walk of life getting a digital makeover, China's healthcare sector is hastening the pace of technological advances in the hope of serving patients better and empowering physicians in remote parts of the country.
Guided by a so-called Omni-Protection concept, French vaccine maker Sanofi Pasteur unveiled last week a string of smart and standardized vaccination procedures in China to help users access immunization information, track vaccine data, and manage the vaccination process through the internet and big data technologies.
During the second China International Import Expo in Shanghai, Sanofi Pasteur inked a pact to establish cooperation with Chinese internet giant Alibaba Group's healthcare arm to build a vaccination cloud platform, offer related information online and location-based vaccine search services.
It also pledged to develop an intelligent clinic through a tie-up with an affiliated company to the Chinese Academy of Sciences. This was done in the hope of streamlining the entire process and better managing the safety of vaccines. The key functions include online reservation, facial recognition, smart cold chain delivery, and an intelligent observation area.
"The common thread running through the entire vaccination cycle is data, the sharing and smart deployment of which will assist authorities to keep track of disease prevention and data accumulation nationwide," said Mike Zhang, general manager of Sanofi Pasteur China.
Based on an agreement with the Shenzhen municipal government, the company even wants to turn Shenzhen into a hub to explore a new model for accelerating the launch of globally leading vaccines, improve the influenza vaccination rate, employ big data to establish a vaccination evaluation system, and delve more deeply into relevant research.
What digital technology can do is to "create that closed loop so that people can be reminded about their second or third vaccine, and using other digital formats for them to be informed about their health," said Joseph Romanelli, senior vice-president of MSD and president of MSD in China.
The US-based company has joined hands with Ali Health to create a preventive health management system combining healthcare knowledge and technologies so that users get to understand the burden of diseases and where they can get vaccinated.
"The digital platform that we have in China is probably second to none. What's great about China is that all of our customers, whether they are physicians or patients or potential patients, are online," he said.
Physicians also stand to benefit from the digitalization wave.
Siemens Healthineers, the healthcare unit of German conglomerate Siemens, showcased its latest 5G-powered ultrasound solutions during the second CIIE.The locally developed gadget is expected to help physicians in remote areas and county-level clinics better diagnose people with the real-time aid of seasoned doctors thousands of miles away.
"Currently, China heavily lacks physicians especially in entrance-level healthcare institutes, primary hospitals and rural healthcare institutes. In the meantime, the journey for ultrasound physicians to improve their skills is not easy," said Jerry Wang, general manager of Siemens Healthineers China.
"Most 5G applications are in place to help higher-level hospitals to connect with lower-level hospitals. So limited physician resources will be utilized in a much better way," he said.
The company has also rolled out a one-stop stroke solution center, in which it has fast CT scanning and an angiography system in one room.
Digitalization can assist the entire cycle of clinical trial, regulatory compliance, to the commercialization of drugs, said Tal Rosenberg, senior vice-president of IQVIA Global Technology Solutions, a US-based company serving the combined industries of health information technology and clinical research.
"Around 80 percent of clinical trials today are being delayed due to lack of patients. Digital transformation can help expand the reach of patients that are not in proximity, or arriving at the site," he said. "You can contact them, get data on a daily basis, and find even more patients."
The portfolio of life science companies has significantly evolved from primary care to specialty businesses. Therefore, a number of stakeholders other than the physicians needed to be engaged.
That's when holistic digital platforms kick in, as exemplified by IQVIA's latest product called OCE.It connects sales, marketing, medical and related functions in life science companies to transform commercial models.
The company also joined hands with Chinese healthcare marketing firm SocialMED to form a digital medical sales representative operating center in a bid to reach pharmacies, physicians, and patients in a much more efficient way with lower costs.
"Digital addresses the critical issue of how the industry uses data analytics to actually drive efficiencies and deploy resources in a smart way," said Yan Guowei, general manager of SocialMED.
(Story: China Daily)
Guided by a so-called Omni-Protection concept, French vaccine maker Sanofi Pasteur unveiled last week a string of smart and standardized vaccination procedures in China to help users access immunization information, track vaccine data, and manage the vaccination process through the internet and big data technologies.
During the second China International Import Expo in Shanghai, Sanofi Pasteur inked a pact to establish cooperation with Chinese internet giant Alibaba Group's healthcare arm to build a vaccination cloud platform, offer related information online and location-based vaccine search services.
It also pledged to develop an intelligent clinic through a tie-up with an affiliated company to the Chinese Academy of Sciences. This was done in the hope of streamlining the entire process and better managing the safety of vaccines. The key functions include online reservation, facial recognition, smart cold chain delivery, and an intelligent observation area.
"The common thread running through the entire vaccination cycle is data, the sharing and smart deployment of which will assist authorities to keep track of disease prevention and data accumulation nationwide," said Mike Zhang, general manager of Sanofi Pasteur China.
Based on an agreement with the Shenzhen municipal government, the company even wants to turn Shenzhen into a hub to explore a new model for accelerating the launch of globally leading vaccines, improve the influenza vaccination rate, employ big data to establish a vaccination evaluation system, and delve more deeply into relevant research.
What digital technology can do is to "create that closed loop so that people can be reminded about their second or third vaccine, and using other digital formats for them to be informed about their health," said Joseph Romanelli, senior vice-president of MSD and president of MSD in China.
The US-based company has joined hands with Ali Health to create a preventive health management system combining healthcare knowledge and technologies so that users get to understand the burden of diseases and where they can get vaccinated.
"The digital platform that we have in China is probably second to none. What's great about China is that all of our customers, whether they are physicians or patients or potential patients, are online," he said.
Physicians also stand to benefit from the digitalization wave.
Siemens Healthineers, the healthcare unit of German conglomerate Siemens, showcased its latest 5G-powered ultrasound solutions during the second CIIE.The locally developed gadget is expected to help physicians in remote areas and county-level clinics better diagnose people with the real-time aid of seasoned doctors thousands of miles away.
"Currently, China heavily lacks physicians especially in entrance-level healthcare institutes, primary hospitals and rural healthcare institutes. In the meantime, the journey for ultrasound physicians to improve their skills is not easy," said Jerry Wang, general manager of Siemens Healthineers China.
"Most 5G applications are in place to help higher-level hospitals to connect with lower-level hospitals. So limited physician resources will be utilized in a much better way," he said.
The company has also rolled out a one-stop stroke solution center, in which it has fast CT scanning and an angiography system in one room.
Digitalization can assist the entire cycle of clinical trial, regulatory compliance, to the commercialization of drugs, said Tal Rosenberg, senior vice-president of IQVIA Global Technology Solutions, a US-based company serving the combined industries of health information technology and clinical research.
"Around 80 percent of clinical trials today are being delayed due to lack of patients. Digital transformation can help expand the reach of patients that are not in proximity, or arriving at the site," he said. "You can contact them, get data on a daily basis, and find even more patients."
The portfolio of life science companies has significantly evolved from primary care to specialty businesses. Therefore, a number of stakeholders other than the physicians needed to be engaged.
That's when holistic digital platforms kick in, as exemplified by IQVIA's latest product called OCE.It connects sales, marketing, medical and related functions in life science companies to transform commercial models.
The company also joined hands with Chinese healthcare marketing firm SocialMED to form a digital medical sales representative operating center in a bid to reach pharmacies, physicians, and patients in a much more efficient way with lower costs.
"Digital addresses the critical issue of how the industry uses data analytics to actually drive efficiencies and deploy resources in a smart way," said Yan Guowei, general manager of SocialMED.
(Story: China Daily)
Conference sheds light on global display industry development
The First World Conference on Display Industry opened Friday in east China to strengthen international exchanges in the industry and promote technological breakthroughs and wider product applications.
The three-day event, held in Hefei, capital of Anhui Province, includes an opening ceremony, a main forum and six parallel forums. The latest display technologies, including TFT-LCD, OLED, MicroLED and laser displays, will be showcased, according to Li Xiaohong, head of the Hefei municipal bureau of investment promotion.
More than 1,000 scholars and representatives from leading businesses and organizations in countries and regions such as Japan and the United States attended the conference. Over 50 global technology enterprises, including BOE Technology Group, Corning and Ledman, will showcase their latest innovative products.
The success of the display industry can be decided by multiple factors such as technology, talent and industrial scale, said Qiu Yong, president of Tsinghua University and an academician of the Chinese Academy of Sciences.
In recent years, Anhui has been striving to create a cluster of innovative displays with international competitiveness. By 2022, the output value of the innovative display industry in the province is expected to exceed 200 billion yuan (around 28.43 billion U.S. dollars).
The three-day event, held in Hefei, capital of Anhui Province, includes an opening ceremony, a main forum and six parallel forums. The latest display technologies, including TFT-LCD, OLED, MicroLED and laser displays, will be showcased, according to Li Xiaohong, head of the Hefei municipal bureau of investment promotion.
More than 1,000 scholars and representatives from leading businesses and organizations in countries and regions such as Japan and the United States attended the conference. Over 50 global technology enterprises, including BOE Technology Group, Corning and Ledman, will showcase their latest innovative products.
The success of the display industry can be decided by multiple factors such as technology, talent and industrial scale, said Qiu Yong, president of Tsinghua University and an academician of the Chinese Academy of Sciences.
In recent years, Anhui has been striving to create a cluster of innovative displays with international competitiveness. By 2022, the output value of the innovative display industry in the province is expected to exceed 200 billion yuan (around 28.43 billion U.S. dollars).
The conference is co-hosted by the Ministry of Industry and Information Technology and the provincial government of Anhui.
(Source: Xinhua)
Autonomous driving commercial operations route launched
China's first route for the commercial operation of autonomous driving was recently launched in the central business district of Wuhan, capital city of Central China’s Hubei province, according to a statement made by the Wuhan Economic & Technological Development Zone, also known as the WHDZ.
The Smart Panda Bus, a multi-functional AI-based autonomous driving vehicle will soon start operating on the route, officials said.
It has the visually striking design features of a giant panda and was developed by DeepBlue Technology, an artificial intelligence firm based in China.
Measuring 12 meters long, it is also 2.25 meter wide and 3.25 meter high. The bus has a weight of about 10 tons and is powered by a lithiumion phosphate battery.
Its autonomous driving level is between Level 3 and Level 4, which means it does not require human interaction in most situations.
In addition to its self-driving features, the bus also has a fingerprint recognition system, as well as an in-vehicle robot and an intelligent emergency escape system.
To ensure passengers’ safety, smart buses need to undergo strict safety tests, including tests on speed limit information identification and responses, follow-up driving, parallel driving, roadside parking, detection and avoidance of oncoming vehicles.
Officials said the results show that collision between people and vehicles in the system will not happen. Manual intervention was only carried out three times during the thousand-time tests and the pass rate was 99.7 percent.
As one of China's first batch of 5G pilot cities, Wuhan has the technical advantages of intelligent connected vehicles, providing infrastructure support for the operation of autonomous driving.
Earlier in September, the city issued commercial licenses for unmanned vehicles to three businesses – Baidu, Haylion Technologies Co and DeepBlue, the first of its kind in the world.
The licenses were issued in the National Intelligent Connected Vehicle (Wuhan) Test and Demonstration Zone located in WHDZ.
It is the first intelligent network-connected vehicle demonstration area in China, based on full coverage by the 5G communications technology V2X vehicle road coordination system.
(Source: Wuhan Economy and Technology Development Zone)
The Smart Panda Bus, a multi-functional AI-based autonomous driving vehicle will soon start operating on the route, officials said.
It has the visually striking design features of a giant panda and was developed by DeepBlue Technology, an artificial intelligence firm based in China.
Measuring 12 meters long, it is also 2.25 meter wide and 3.25 meter high. The bus has a weight of about 10 tons and is powered by a lithiumion phosphate battery.
Its autonomous driving level is between Level 3 and Level 4, which means it does not require human interaction in most situations.
In addition to its self-driving features, the bus also has a fingerprint recognition system, as well as an in-vehicle robot and an intelligent emergency escape system.
To ensure passengers’ safety, smart buses need to undergo strict safety tests, including tests on speed limit information identification and responses, follow-up driving, parallel driving, roadside parking, detection and avoidance of oncoming vehicles.
Officials said the results show that collision between people and vehicles in the system will not happen. Manual intervention was only carried out three times during the thousand-time tests and the pass rate was 99.7 percent.
As one of China's first batch of 5G pilot cities, Wuhan has the technical advantages of intelligent connected vehicles, providing infrastructure support for the operation of autonomous driving.
Earlier in September, the city issued commercial licenses for unmanned vehicles to three businesses – Baidu, Haylion Technologies Co and DeepBlue, the first of its kind in the world.
The licenses were issued in the National Intelligent Connected Vehicle (Wuhan) Test and Demonstration Zone located in WHDZ.
It is the first intelligent network-connected vehicle demonstration area in China, based on full coverage by the 5G communications technology V2X vehicle road coordination system.
(Source: Wuhan Economy and Technology Development Zone)
Late talkers twice as likely to have severe and frequent temper tantrums
Toddler speech delays and temper tantrums have long been assumed to go hand in hand, but no large-scale research had successfully backed up that assumption with data.
Until now.
A new, 2,000-participant study from Northwestern University found that toddlers with fewer spoken words have more frequent and severe temper tantrums than their peers with typical language skills.
It is the first study to link toddlers’ delayed vocabulary with severe temper tantrums, including children as young as 12 months old, which is much younger than many clinicians typically believe problematic behavior can be identified.
“We totally expect toddlers to have temper tantrums if they’re tired or frustrated, and most parents know a tantrum when they see it,” said co-principal investigator Elizabeth Norton, an assistant professor in the department of communication sciences and disorders at Northwestern. “But not many parents know that certain kinds of frequent or severe tantrums can indicate risk for later mental health problems, such as anxiety, depression ADHD and behavior problems.”
Similarly, both irritability and language delays are risk factors for later language and learning disorders, Norton said. About 40% of delayed talkers will go on to have persistent language problems that can affect their academic performance, Norton said. This is why assessing both language and mental health risk in tandem may accelerate earlier identification and intervention for early childhood disorders because children with this “double whammy” are likely to be higher risk.
The study was published in the Journal of Applied Developmental Psychology.
Until now.
A new, 2,000-participant study from Northwestern University found that toddlers with fewer spoken words have more frequent and severe temper tantrums than their peers with typical language skills.
It is the first study to link toddlers’ delayed vocabulary with severe temper tantrums, including children as young as 12 months old, which is much younger than many clinicians typically believe problematic behavior can be identified.
“We totally expect toddlers to have temper tantrums if they’re tired or frustrated, and most parents know a tantrum when they see it,” said co-principal investigator Elizabeth Norton, an assistant professor in the department of communication sciences and disorders at Northwestern. “But not many parents know that certain kinds of frequent or severe tantrums can indicate risk for later mental health problems, such as anxiety, depression ADHD and behavior problems.”
Similarly, both irritability and language delays are risk factors for later language and learning disorders, Norton said. About 40% of delayed talkers will go on to have persistent language problems that can affect their academic performance, Norton said. This is why assessing both language and mental health risk in tandem may accelerate earlier identification and intervention for early childhood disorders because children with this “double whammy” are likely to be higher risk.
The study was published in the Journal of Applied Developmental Psychology.
“We knew from many other studies in older children that language problems and mental health problems occur together more frequently than would be expected, but we didn’t know how early this relationship began,” said Norton, also the director of the Language, Education and Reading Neuroscience (LEARN) Lab and a leader in the Institute for Innovations in Developmental Sciences (DevSci) at Northwestern.
(Full story: Northwestern)
18 November 2019
China's tourism market has big potential for international travel agents
Vivian Wu, an experienced online travel business professional from the United States, has been busy meeting her Chinese suppliers and seeking opportunities at the 2019 China International Travel Mart (CITM) which concluded Sunday in Kunming, the capital city of southwest China's Yunnan Province.
Wu has been working in the online hotel business for the China market since 2004 and began to expand her career in the online tour business segment in 2015 for TripAdvisor, the world's major travel platform.
"In the past 15 years, China's online travel industry has grown rapidly. The China market has huge potential no matter if it's from the perspective of local tour operators or the consumer booking behavior," said Wu, regional manager of Greater China, TripAdvisor Inc.
In early November, TripAdvisor Inc. reached a strategic partnership with Trip.com Group Limited, China's largest online travel agency, to expand global cooperation, including a joint venture, global content agreements and a governance agreement.
The strategic partnership will expand TripAdvisor's global reach and help outbound Chinese travelers plan more meaningful trips, said Wu, who has participated in the CITM many times.
"I am here to look for potential targeted suppliers and to understand the latest market trends of China's tourism. Of course, it's also a great opportunity to catch up with many of my existing suppliers from all over China," she said.
Wu said she found that traditional offline tour operators start to pay much more attention to online business as well as have a strong desire to cooperate with online travel agencies.
Founded in 1998, the CITM has grown into one of the largest and most influential tourism fairs in the Asia-Pacific region.
The three-day event, sponsored by the Ministry of Culture and Tourism, the Civil Aviation Administration of China and the provincial government of Yunnan, attracts representatives and exhibitors from 75 countries and regions.
Tourism has become an important engine to power global economic growth with the total number of inbound and outbound tourists in China, reaching 291 million in 2018, up 7.8 percent year-on-year, according to Luo Shugang, minister of culture and tourism.
China's cultural and tourism departments at all levels will continue to expand the industrial scale, promote international cultural and tourism exchanges and cooperation, and provide more opportunities for all countries, he added.
Jacob Iwikua, the journey coordinator from an Australian company called Scenic Luxury Cruises and Tours, said it was his first time to travel in China and participate in this travel mart. But he has worked in China's inbound tourism industry for years.
"We send about 3,000 tourists from Australia, the U.S. and the UK to China each year. The top destinations on their list include Beijing, Shanghai, Lijiang and Shangri-La," Jacob said, adding that he will visit some scenic spots in Yunnan this time to find more business opportunities.
"There is certainly a lot of potential in China's tourism market. It's an ever-growing market, especially for Australian guests," Jacob added.
(Story: Xinhua)
Wu has been working in the online hotel business for the China market since 2004 and began to expand her career in the online tour business segment in 2015 for TripAdvisor, the world's major travel platform.
"In the past 15 years, China's online travel industry has grown rapidly. The China market has huge potential no matter if it's from the perspective of local tour operators or the consumer booking behavior," said Wu, regional manager of Greater China, TripAdvisor Inc.
In early November, TripAdvisor Inc. reached a strategic partnership with Trip.com Group Limited, China's largest online travel agency, to expand global cooperation, including a joint venture, global content agreements and a governance agreement.
The strategic partnership will expand TripAdvisor's global reach and help outbound Chinese travelers plan more meaningful trips, said Wu, who has participated in the CITM many times.
"I am here to look for potential targeted suppliers and to understand the latest market trends of China's tourism. Of course, it's also a great opportunity to catch up with many of my existing suppliers from all over China," she said.
Wu said she found that traditional offline tour operators start to pay much more attention to online business as well as have a strong desire to cooperate with online travel agencies.
Founded in 1998, the CITM has grown into one of the largest and most influential tourism fairs in the Asia-Pacific region.
The three-day event, sponsored by the Ministry of Culture and Tourism, the Civil Aviation Administration of China and the provincial government of Yunnan, attracts representatives and exhibitors from 75 countries and regions.
Tourism has become an important engine to power global economic growth with the total number of inbound and outbound tourists in China, reaching 291 million in 2018, up 7.8 percent year-on-year, according to Luo Shugang, minister of culture and tourism.
China's cultural and tourism departments at all levels will continue to expand the industrial scale, promote international cultural and tourism exchanges and cooperation, and provide more opportunities for all countries, he added.
Jacob Iwikua, the journey coordinator from an Australian company called Scenic Luxury Cruises and Tours, said it was his first time to travel in China and participate in this travel mart. But he has worked in China's inbound tourism industry for years.
"We send about 3,000 tourists from Australia, the U.S. and the UK to China each year. The top destinations on their list include Beijing, Shanghai, Lijiang and Shangri-La," Jacob said, adding that he will visit some scenic spots in Yunnan this time to find more business opportunities.
"There is certainly a lot of potential in China's tourism market. It's an ever-growing market, especially for Australian guests," Jacob added.
(Story: Xinhua)
China's civil aviation industry posts growth in first 10 months
China's civil aviation sector reported steady expansion as well as continuous high safety standards in the first 10 months of the year, official data showed.
The total transport turnover of the industry stood at 107.75 billion tonne-kilometers from January to October, up 7.5 percent year on year, according to the Civil Aviation Administration of China.
In breakdown, 554 million passenger trips were completed during the period, up 8.3 percent over the same period last year.
Cargo turnover processed by the industry rose 1 percent year on year to reach 6.11 million tonnes in the first 10 months, with that of October alone climbing 5.3 percent year on year to 665,000 tonnes, up 1.2 percentage points from September.
The sector accumulated total transport time of 10.27 million hours in the period, up 7.2 percent from one year earlier, with no transport accidents reported.
The total transport turnover of the industry stood at 107.75 billion tonne-kilometers from January to October, up 7.5 percent year on year, according to the Civil Aviation Administration of China.
In breakdown, 554 million passenger trips were completed during the period, up 8.3 percent over the same period last year.
Cargo turnover processed by the industry rose 1 percent year on year to reach 6.11 million tonnes in the first 10 months, with that of October alone climbing 5.3 percent year on year to 665,000 tonnes, up 1.2 percentage points from September.
The sector accumulated total transport time of 10.27 million hours in the period, up 7.2 percent from one year earlier, with no transport accidents reported.
The number of flights operated by the sector rose 3.94 percent year on year to 509,036 last month, with 16,421 on average each day. The flight punctuality rate reached 87.2 percent in October, up 0.93 percentage points month on month.
(Source: Xinhau)
17 November 2019
Chinese financial institutions report net FDI outflows in Q3
China's financial institutions, including banks, insurers and securities firms, saw net investment outflows in the third quarter of this year, said the country's foreign exchange regulator Friday.
Foreign direct investment (FDI) in China's financial institutions came in at 5.53 billion U.S. dollars during the period, while 6.71 billion dollars of investment flowed out, resulting in a net outflow of 1.18 billion dollars, according to the State Administration of Foreign Exchange (SAFE).
China's financial institutions made a net overseas investment of 3.73 billion U.S. dollars during the period.
SAFE has been publishing data on a quarterly basis since 2012 to increase the transparency of foreign exchange statistics.
Foreign direct investment (FDI) in China's financial institutions came in at 5.53 billion U.S. dollars during the period, while 6.71 billion dollars of investment flowed out, resulting in a net outflow of 1.18 billion dollars, according to the State Administration of Foreign Exchange (SAFE).
China's financial institutions made a net overseas investment of 3.73 billion U.S. dollars during the period.
SAFE has been publishing data on a quarterly basis since 2012 to increase the transparency of foreign exchange statistics.
Diabetes causes 10.1 percent of deaths in Brunei
Diabetes is the third highest cause of deaths in Brunei since 2012. The latest statistical figures revealed that diabetes caused 10.1 percent of deaths in the country in 2017, said Brunei's Health Minister Mohammad Isham in his message to commemorate the World Diabetes Day on Thursday.
The minister also said the National Health and Nutritional Status Survey in 2011 reported that as many as 12.4 percent of the population in Brunei were diabetic. Meanwhile, another population survey of Non-communicable Diseases (NCDs) and Risk Factors in Brunei indicated that 9.7 percent of Brunei citizens have high blood sugar level.
"What we should know is that diabetes can also cause other non-communicable diseases such as kidney failure and heart disease," Isham warned.
He said diabetes is the main cause of kidney failure, where patients need dialysis treatments. In Brunei, it is estimated that 800 patients who are undergoing renal replacement therapy need hemodialysis.
Coronary heart disease is the country's second-highest killer, where the majority of them were caused by diabetes.
(Source: Xinhua)
The minister also said the National Health and Nutritional Status Survey in 2011 reported that as many as 12.4 percent of the population in Brunei were diabetic. Meanwhile, another population survey of Non-communicable Diseases (NCDs) and Risk Factors in Brunei indicated that 9.7 percent of Brunei citizens have high blood sugar level.
"What we should know is that diabetes can also cause other non-communicable diseases such as kidney failure and heart disease," Isham warned.
He said diabetes is the main cause of kidney failure, where patients need dialysis treatments. In Brunei, it is estimated that 800 patients who are undergoing renal replacement therapy need hemodialysis.
Coronary heart disease is the country's second-highest killer, where the majority of them were caused by diabetes.
(Source: Xinhua)
Mercedes-Benz to recall vehicles in China
Mercedes-Benz (China) Auto Sales and Beijing Benz Automotive will recall hundreds of thousands of E-Class models over safety concerns with their shock absorbers, according to China's top quality watchdog.
Some 2,873 imported E-class vehicles and 391,605 Chinese-made E-class cars will be recalled by Mercedes-Benz from Nov 29, according to a statement posted on the website of the State Administration for Market Regulation.
The imported vehicles were made between Nov 29, 2018 and Sept 11, 2019, while Chinese-made sedans were manufactured between Feb 25, 2016 and Oct 27, 2019.
Strong external forces may damage and deform the front shock absorber of the affected models, with fracture possible under extreme conditions, which is a potential safety concern, the statement said.
The carmaker promised to replace the defective parts free of charge.
(Source: China Daily)
Some 2,873 imported E-class vehicles and 391,605 Chinese-made E-class cars will be recalled by Mercedes-Benz from Nov 29, according to a statement posted on the website of the State Administration for Market Regulation.
The imported vehicles were made between Nov 29, 2018 and Sept 11, 2019, while Chinese-made sedans were manufactured between Feb 25, 2016 and Oct 27, 2019.
Strong external forces may damage and deform the front shock absorber of the affected models, with fracture possible under extreme conditions, which is a potential safety concern, the statement said.
The carmaker promised to replace the defective parts free of charge.
(Source: China Daily)
China's power generation sees slower growth
China's power generation rose 4 percent year-on-year in October, slower than the 4.7-percent rate recorded in September, official data showed.
Power generation hit 571.4 billion kWh last month, according to the National Bureau of Statistics (NBS).
A breakdown showed that coal-fired electricity generation saw a slower growth in October, rising 5.9 percent year-on-year. Hydroelectricity fell 4.1 percent, as compared with a drop of 1.1 percent in September.
Nuclear and solar power both recorded a slower increase of 5.4 percent and 3 percent, respectively, while wind power returned to growth, jumping 10 percent year-on-year.
In the first 10 months of 2019, power generation increased 3.1 percent year-on-year to 5.9 trillion kWh, NBS data showed.
Power generation hit 571.4 billion kWh last month, according to the National Bureau of Statistics (NBS).
A breakdown showed that coal-fired electricity generation saw a slower growth in October, rising 5.9 percent year-on-year. Hydroelectricity fell 4.1 percent, as compared with a drop of 1.1 percent in September.
Nuclear and solar power both recorded a slower increase of 5.4 percent and 3 percent, respectively, while wind power returned to growth, jumping 10 percent year-on-year.
In the first 10 months of 2019, power generation increased 3.1 percent year-on-year to 5.9 trillion kWh, NBS data showed.
16 November 2019
China's resort island Hainan launches more air routes to connect the world
A new air route connecting the city of Busan, the Republic of Korea and Haikou, capital of China's southernmost province of Hainan, will begin running on November 27, Hainan's Meilan International Airport confirmed.
Operated by Air Busan, the flight will be carried out twice a week. The Busan-Haikou flight is scheduled to depart at 10:35 pm local time on Wednesday and 10:00 pm local time on Saturday.
It is one of the 24 international air routes newly opened in Hainan this year.
Hainan, once an isolated and backward island, has stepped up efforts to launch more overseas air routes to reinforce its connection with the world.
So far, the province has 98 overseas air routes, according to the provincial transport authority.
Hainan put forward building an air transport network in April, called four-hour and eight-hour flight economic circle, which is expected to enable people to have trips between the island and 21 countries and regions in Asia within four hours and 59 countries and regions spanning across Asia, Australia, Europe and Africa within eight hours.
From January to October, a total of 17,000 overseas flights took off and landed in Hainan, up 23.3 percent from a year earlier. Passenger throughput also saw a rise by 28.7 percent year on year to 2.1 million during the period, the provincial transport authority said.
(Source: China Daily)
Operated by Air Busan, the flight will be carried out twice a week. The Busan-Haikou flight is scheduled to depart at 10:35 pm local time on Wednesday and 10:00 pm local time on Saturday.
It is one of the 24 international air routes newly opened in Hainan this year.
Hainan, once an isolated and backward island, has stepped up efforts to launch more overseas air routes to reinforce its connection with the world.
So far, the province has 98 overseas air routes, according to the provincial transport authority.
Hainan put forward building an air transport network in April, called four-hour and eight-hour flight economic circle, which is expected to enable people to have trips between the island and 21 countries and regions in Asia within four hours and 59 countries and regions spanning across Asia, Australia, Europe and Africa within eight hours.
From January to October, a total of 17,000 overseas flights took off and landed in Hainan, up 23.3 percent from a year earlier. Passenger throughput also saw a rise by 28.7 percent year on year to 2.1 million during the period, the provincial transport authority said.
(Source: China Daily)
China's 5G phone shipments reach 485,000 in Q3: report
Shipments of 5G phones in China reached 485,000 units in the third quarter of this year, according to global market intelligence firm International Data Corporation (IDC).
According to the latest IDC Quarterly Mobile Phone Tracker, most of these units were flagships priced over 700 U.S. dollars, but there was also activity in lower price bands.
Vivo gained an early lead by releasing two 5G models in one month, breaking into both the over 700-dollar high-end via offline channels, as well as pushing into a lower 450 to 550-dollar range via online channels.
In contrast, Huawei and Samsung were contained to the high-end, while ZTE and China Mobile landed in the 600 to 650-dollar range. Xiaomi was able to occupy the 450 to 550-dollar segment, according to the report.
Fifth-generation network construction in China has been picking up quickly with the support of the government and policies around co-construction and sharing between operators. But wider geographic coverage will take time, and IDC expects that device shipments will lead subscriber numbers for now.
"Fortunately, data tariffs are priced attractively against 4G, complete with tiering by speed for different user needs," IDC said, adding that it expects a significant amount of industry momentum to drive volumes in 2020.
(Source: Xinhua)
According to the latest IDC Quarterly Mobile Phone Tracker, most of these units were flagships priced over 700 U.S. dollars, but there was also activity in lower price bands.
Vivo gained an early lead by releasing two 5G models in one month, breaking into both the over 700-dollar high-end via offline channels, as well as pushing into a lower 450 to 550-dollar range via online channels.
In contrast, Huawei and Samsung were contained to the high-end, while ZTE and China Mobile landed in the 600 to 650-dollar range. Xiaomi was able to occupy the 450 to 550-dollar segment, according to the report.
Fifth-generation network construction in China has been picking up quickly with the support of the government and policies around co-construction and sharing between operators. But wider geographic coverage will take time, and IDC expects that device shipments will lead subscriber numbers for now.
"Fortunately, data tariffs are priced attractively against 4G, complete with tiering by speed for different user needs," IDC said, adding that it expects a significant amount of industry momentum to drive volumes in 2020.
(Source: Xinhua)
The 'saxophone village' of China
The Central Sidangkou Village, a village in Tianjin not well-known to the rest of the world, is renowned worldwide for its mass production of saxophones.
The production of saxophones in this village with a population of 5,000 now accounts for half of the world's total production and its total industrial value hit 400 million yuan ($57.1 million), according to local authorities.
Its total production of saxophones and other Western-style musical instruments reaches up to 500,000 units each year.
The mass production of saxophones has, for 40 years, covers the whole industrial chain — including parts manufacturing, electroplating, melding, polishing and assembly — has not only driven local economic growth but also benefited e-commerce and logistics sectors in the neighboring villages.
In addition to saxophones, the village also produces other wind instruments such as clarinet, and horns.
Leading market producers, including Shengdi and Oves, have shifted their production to high-end markets instead of previous mass OEM businesses.
Their market production value is around 70-80 million yuan annually and high-end production accounts for 20 percent of the industrial total.
Wang Yuchun, president of Shengdi Co, a market leader of China's saxophone production, said: "Shengdi now has shifted 20 percent of its production to high-end market, and devoting greater effort to scouting for global leading music troupes."
Zhang Guomin, president of Tianjin Oves Musical Instrument Co Ltd — another market leader with annual sales of up to 70 million yuan — said the low-end market has an average profit of lower than 7 percent, while the high-end market saw profits of up to 30 to 40 percent.
"Now our company is targeting the cutting-edge market and bespoke products," he said.
"China's music instrument market is leaving the low-threshold competition, and it's hard for companies without competent technologies to sustain," he said.
(Story: China Daily)
The production of saxophones in this village with a population of 5,000 now accounts for half of the world's total production and its total industrial value hit 400 million yuan ($57.1 million), according to local authorities.
Its total production of saxophones and other Western-style musical instruments reaches up to 500,000 units each year.
The mass production of saxophones has, for 40 years, covers the whole industrial chain — including parts manufacturing, electroplating, melding, polishing and assembly — has not only driven local economic growth but also benefited e-commerce and logistics sectors in the neighboring villages.
In addition to saxophones, the village also produces other wind instruments such as clarinet, and horns.
Leading market producers, including Shengdi and Oves, have shifted their production to high-end markets instead of previous mass OEM businesses.
Their market production value is around 70-80 million yuan annually and high-end production accounts for 20 percent of the industrial total.
Wang Yuchun, president of Shengdi Co, a market leader of China's saxophone production, said: "Shengdi now has shifted 20 percent of its production to high-end market, and devoting greater effort to scouting for global leading music troupes."
Zhang Guomin, president of Tianjin Oves Musical Instrument Co Ltd — another market leader with annual sales of up to 70 million yuan — said the low-end market has an average profit of lower than 7 percent, while the high-end market saw profits of up to 30 to 40 percent.
"Now our company is targeting the cutting-edge market and bespoke products," he said.
"China's music instrument market is leaving the low-threshold competition, and it's hard for companies without competent technologies to sustain," he said.
(Story: China Daily)
15 November 2019
Chongqing's trade with Belt and Road countries surges
Southwest China's Chongqing municipality saw its foreign trade with countries participating in the Belt and Road Initiative (BRI) grow 31.2 percent year-on-year to 129.47 billion yuan ($18.5 billion) in the January-October period.
Chongqing's total trade volume reached 469.11 billion yuan in the first 10 months, up 10.8 percent year-on-year, according to the city's customs authority.
Its exports increased 10.8 percent to 300.34 billion yuan, while its imports grew 10.9 percent to 168.77 billion yuan in the same period, said Chongqing customs.
Trade with Belt and Road countries accounted for 27.6 percent of the total amount, 4.3 percentage points higher than that of the same period last year.
Exports to Belt and Road countries increased by 21 percent to 69.94 billion yuan, while imports rose 45.6 percent to 59.53 billion yuan.
Chongqing's total trade volume reached 469.11 billion yuan in the first 10 months, up 10.8 percent year-on-year, according to the city's customs authority.
Its exports increased 10.8 percent to 300.34 billion yuan, while its imports grew 10.9 percent to 168.77 billion yuan in the same period, said Chongqing customs.
Trade with Belt and Road countries accounted for 27.6 percent of the total amount, 4.3 percentage points higher than that of the same period last year.
Exports to Belt and Road countries increased by 21 percent to 69.94 billion yuan, while imports rose 45.6 percent to 59.53 billion yuan.
Guangdong-Greece trade jumps 35.6%
China Guangdong's trade volume with Greece increased 35.6 percent year-on-year to 10.36 billion yuan ($1.48 billion) between January and October this year, data released by Guangdong Customs revealed on Thursday.
The province's trade volume with the European country in the first 10 months has surpassed the total amount recorded in the whole 2018, according to a statement from Guangdong Customs.
And Guangdong's trade growth rate with Greece was much higher than the average increase with the entire European nations this year, the statement said.
Guangdong, the country's biggest foreign trader, has achieved a booming trade with Greece in recent years.
And local trade experts said Guangdong's trade with Greece will witness even faster development in the coming months after Chinese President Xi Jinping paid a state visit to Greece this month.
"Xi's state visit has helped further advance the Sino-Greek relations and would boost the province's cooperation, exchanges and trade with the European country," experts said.
Guangdong, window of China's reform and opening up, recorded double-digit growth in trade volume with Greece in five years in a row since 2014. Guangdong's trade with Greece was 9.77 billion yuan last year, up 1.5 times compared with 3.96 billion yuan in 2014, said the statement.
Guangdong's exports to Greece were 9.8 billion yuan from January to October, up 33.8 percent year-on-year, while its imports grew 80.6 percent to 550 million yuan in the first 10 months.
Guangdong, a major production base in the world, mainly exported garment, electronic products, shoes and toys to Greece while it mainly purchased consumer goods and agricultural products from Greece.
And non-governmental companies have played bigger part in Guangdong's foreign trade with Greece. Private-run companies represented more than 70 percent of the province's total import and export volume with Greece, the statement added.
(Source: China Daily)
The province's trade volume with the European country in the first 10 months has surpassed the total amount recorded in the whole 2018, according to a statement from Guangdong Customs.
And Guangdong's trade growth rate with Greece was much higher than the average increase with the entire European nations this year, the statement said.
Guangdong, the country's biggest foreign trader, has achieved a booming trade with Greece in recent years.
And local trade experts said Guangdong's trade with Greece will witness even faster development in the coming months after Chinese President Xi Jinping paid a state visit to Greece this month.
"Xi's state visit has helped further advance the Sino-Greek relations and would boost the province's cooperation, exchanges and trade with the European country," experts said.
Guangdong, window of China's reform and opening up, recorded double-digit growth in trade volume with Greece in five years in a row since 2014. Guangdong's trade with Greece was 9.77 billion yuan last year, up 1.5 times compared with 3.96 billion yuan in 2014, said the statement.
Guangdong's exports to Greece were 9.8 billion yuan from January to October, up 33.8 percent year-on-year, while its imports grew 80.6 percent to 550 million yuan in the first 10 months.
Guangdong, a major production base in the world, mainly exported garment, electronic products, shoes and toys to Greece while it mainly purchased consumer goods and agricultural products from Greece.
And non-governmental companies have played bigger part in Guangdong's foreign trade with Greece. Private-run companies represented more than 70 percent of the province's total import and export volume with Greece, the statement added.
(Source: China Daily)
FDA approves Chinese lymphoma therapy
The United States Food and Drug Administration announced on Thursday it would grant accelerated approval to Chinese biomedicine company BeiGene Ltd's Brukinsa (zanubrutinib) capsules, for the treatment of adult patients with mantle cell lymphoma who have received at least one prior therapy.
That marks the first US FDA approval for a cancer therapy independently developed by a Chinese drug company.
The accelerated approval is based on overall response rate, or how many patients experience a complete or partial shrinkage of their tumors after treatment.
Mantle cell lymphoma, or MCL, is a rare, aggressive form of non-Hodgkin's lymphoma, which is a cancer developing from lymphocytes, a type of white blood cell. It usually responds well to initial treatment but eventually returns or stops responding, and cancer cells continue to grow.
In the US, MCL represents 3 to 10 percent of all non-Hodgkin's lymphoma. By the time it is diagnosed, MCL has usually spread to the lymph nodes, bone marrow and other organs. In relapsed lymphoma, the disease reappears or grows again after a period of remission, while in refractory lymphoma, the disease does not respond to treatment or responds only briefly,according to FDA's press announcement.
A single-arm clinical trial of Brukinsa included 86 patients with MCL who received at least one prior treatment. In the trial, 84 percent of patients had tumor shrinkage with a median duration of response (time between the initial response to therapy and subsequent disease progression or relapse) of 19.5 months.
The trial was supported by an additional single-arm trial that included 32 patients, in which 84 percent of patients had tumor shrinkage with a median duration of response of 18.5 months.
John V. Oyler, chairman, co-founder and CEO of BeiGene, said in a press release as the company continues to evaluate Brukinsa's potential in other hematologic cancers, it hopes the FDA approval is the first of many for the therapy.
That marks the first US FDA approval for a cancer therapy independently developed by a Chinese drug company.
The accelerated approval is based on overall response rate, or how many patients experience a complete or partial shrinkage of their tumors after treatment.
Mantle cell lymphoma, or MCL, is a rare, aggressive form of non-Hodgkin's lymphoma, which is a cancer developing from lymphocytes, a type of white blood cell. It usually responds well to initial treatment but eventually returns or stops responding, and cancer cells continue to grow.
In the US, MCL represents 3 to 10 percent of all non-Hodgkin's lymphoma. By the time it is diagnosed, MCL has usually spread to the lymph nodes, bone marrow and other organs. In relapsed lymphoma, the disease reappears or grows again after a period of remission, while in refractory lymphoma, the disease does not respond to treatment or responds only briefly,according to FDA's press announcement.
A single-arm clinical trial of Brukinsa included 86 patients with MCL who received at least one prior treatment. In the trial, 84 percent of patients had tumor shrinkage with a median duration of response (time between the initial response to therapy and subsequent disease progression or relapse) of 19.5 months.
The trial was supported by an additional single-arm trial that included 32 patients, in which 84 percent of patients had tumor shrinkage with a median duration of response of 18.5 months.
John V. Oyler, chairman, co-founder and CEO of BeiGene, said in a press release as the company continues to evaluate Brukinsa's potential in other hematologic cancers, it hopes the FDA approval is the first of many for the therapy.
Since Brukinsa was granted accelerated approval, which enables the FDA to approve drugs for serious conditions to fill an unmet medical need based on a result that is reasonably likely to predict a clinical benefit to patients, further clinical trials may be required to verify and describe Brukinsa's clinical benefit, according to the FDA.
(Source: China Daily)
China's retail sales up 8.1% in first 10 months
China's retail sales of consumer goods rose 8.1 percent year on year in the January-October period, the National Bureau of Statistics (NBS) said Thursday.
Total retail sales amounted to 33.48 trillion yuan (about 4.8 trillion U.S. dollars). Excluding sales of automobiles, the growth rate reached 9 percent during this period.
Retail sales in rural areas rose 9 percent, outpacing the 7.9-percent expansion in urban areas.
Online sales continued to see robust expansion with a year-on-year rise of 16.4 percent, NBS data showed.
Total retail sales amounted to 33.48 trillion yuan (about 4.8 trillion U.S. dollars). Excluding sales of automobiles, the growth rate reached 9 percent during this period.
Retail sales in rural areas rose 9 percent, outpacing the 7.9-percent expansion in urban areas.
Online sales continued to see robust expansion with a year-on-year rise of 16.4 percent, NBS data showed.
Asian Development Bank approves $300m loan for Philippines
The Asian Development Bank (ADB) said on Thursday that it has approved a 300 million U.S. dollars loan to support the Philippines' efforts to help local government units (LGUs) across the country deliver high-quality and accountable services, boost economic development and reduce poverty.
The Manila-based bank said the Local Governance Reform Program (LGRP) subprogram 1 is empowering and equipping LGUs to meet the needs of citizens and ensure they deliver services aligned with local preferences, improve their capacity to raise their own revenue, and lower the cost of doing business for the private sector.
According to ADB, the program is in line with the government's plan to expand the role of LGUs as catalysts of local economic development, as outlined in the Philippine Development Plan 2017 to 2022.
The Manila-based bank said the Local Governance Reform Program (LGRP) subprogram 1 is empowering and equipping LGUs to meet the needs of citizens and ensure they deliver services aligned with local preferences, improve their capacity to raise their own revenue, and lower the cost of doing business for the private sector.
According to ADB, the program is in line with the government's plan to expand the role of LGUs as catalysts of local economic development, as outlined in the Philippine Development Plan 2017 to 2022.
12 November 2019
Greek elevator company expands investment in China
China and Greece have seen steady growth in bilateral business exchanges in recent years. In eastern China's Jiangsu Province, an elevator business, one of Greece's largest investment projects in China, is booming.
This high-end, customized Greek lift company KLEEMANN has accounted for its rapid growth to the potential of elevator industry in China.
"China on its own is 65 percent of the global market. So, it's very important for every elevator company to have establishment here," said Ioannis Ververidis, the company's Asia Pacific commercial director.
The company started business in China in 2011 in the city of Kunshan, Jiangsu Province.
Back then, its annual revenue totaled less than one million U.S. dollars. Today, that figure tops 15 million U.S. dollars.
The company credits the support it has received from the local government, the good geographic location, and China's high market value.
These key factors are driving the company to expand its business in China.
In 2016, the company decided to invest another 15 million dollars to build new assembly lines in Kunshan.
And the new factory officially opened on November 3 – with the Greek prime minister attending the opening ceremony on the sideline of China's second International Import Expo in Shanghai.
Company executives are optimistic about the future in China.
"The opportunity is big. This is why we came to this factory in order to increase our capacity," said Ioannis Iosifidis, the company's China operation director.
And Len Luo, KLEEMANN's China director said as both countries deepen their ties, the communications and the expansion of business models are getting stronger and better.
"We are optimistic about the long-term development of KLEEMANN and other Greek companies in China," he said.
About 65 Greek companies attended the second China International Import Expo in Shanghai, looking for business and investment opportunities.
This, amid an atmosphere of enhanced collaboration between the two countries – after both governments signed a memorandum of understanding last year to advance China's Belt and Road Initiative.
And some of those companies may well be looking at KLEEMANN – as an example of the type of success foreign firms can achieve here in China.
(Source: CGTN)
This high-end, customized Greek lift company KLEEMANN has accounted for its rapid growth to the potential of elevator industry in China.
"China on its own is 65 percent of the global market. So, it's very important for every elevator company to have establishment here," said Ioannis Ververidis, the company's Asia Pacific commercial director.
The company started business in China in 2011 in the city of Kunshan, Jiangsu Province.
Back then, its annual revenue totaled less than one million U.S. dollars. Today, that figure tops 15 million U.S. dollars.
The company credits the support it has received from the local government, the good geographic location, and China's high market value.
These key factors are driving the company to expand its business in China.
In 2016, the company decided to invest another 15 million dollars to build new assembly lines in Kunshan.
And the new factory officially opened on November 3 – with the Greek prime minister attending the opening ceremony on the sideline of China's second International Import Expo in Shanghai.
Company executives are optimistic about the future in China.
"The opportunity is big. This is why we came to this factory in order to increase our capacity," said Ioannis Iosifidis, the company's China operation director.
And Len Luo, KLEEMANN's China director said as both countries deepen their ties, the communications and the expansion of business models are getting stronger and better.
"We are optimistic about the long-term development of KLEEMANN and other Greek companies in China," he said.
About 65 Greek companies attended the second China International Import Expo in Shanghai, looking for business and investment opportunities.
This, amid an atmosphere of enhanced collaboration between the two countries – after both governments signed a memorandum of understanding last year to advance China's Belt and Road Initiative.
And some of those companies may well be looking at KLEEMANN – as an example of the type of success foreign firms can achieve here in China.
(Source: CGTN)
Hyundai pushes ahead with mobility strategy
South Korea's Hyundai Motor Group showcased its achievements in hydrogen fuel cell technology and electric vehicles at the second China International Import Expo held in Shanghai, as part of the automaker's efforts to strengthen its influence in future mobility in the world's largest automobile market.
Hyundai's Neptune concept vehicle is an example of the company's research and development into hydrogen fuel cell technology and was exhibited at the expo.
The Neptune shows that Hyundai has extended the application of hydrogen fuel cell technology to commercial vehicles, according to the South Korean company.
The NEXO, another hydrogen fuel cell vehicle from Hyundai was another of the company's models on show that attracted attention.
The model can be refilled with hydrogen in just five minutes and has a range of up to 800 kilometers, according to Hyundai.
Hyundai displayed its two fuel cell systems - the bigger of which can fuel the Veloster N ETCR, the automaker's first electric racing car. And the other is a compact fuel cell system that can be used in industries such as rail and shipping.
The auto giant said that by 2030, it will have manufactured 700,000 fuel cell systems.
While developing hydrogen technology, Hyundai is also making inroads in producing electric vehicles.
The company said it will have an electric vehicle lineup of 23 models by 2025, and has a global sales target of 560,000 vehicles by the same year.
Hyundai's affiliate Kia Motors debuted its high-end electric concept model Futuron at the second CIIE. The Futuron features chic design and high-level driver-machine interconnectivity, demonstrating Kia's confidence and determination to lead the future mobility, especially in the Chinese market, according to the automaker.
The Soul EV, another electric model exhibited by Kia, demonstrated to visitors its commitment to make electric travel more efficient and convenient.
Coupled with world-leading wireless charging technology, the Soul EV will be able to be quick-charged through a ground induction device in the future, according to Kia.
(Source: China Daily)
Hyundai's Neptune concept vehicle is an example of the company's research and development into hydrogen fuel cell technology and was exhibited at the expo.
The Neptune shows that Hyundai has extended the application of hydrogen fuel cell technology to commercial vehicles, according to the South Korean company.
The NEXO, another hydrogen fuel cell vehicle from Hyundai was another of the company's models on show that attracted attention.
The model can be refilled with hydrogen in just five minutes and has a range of up to 800 kilometers, according to Hyundai.
Hyundai displayed its two fuel cell systems - the bigger of which can fuel the Veloster N ETCR, the automaker's first electric racing car. And the other is a compact fuel cell system that can be used in industries such as rail and shipping.
The auto giant said that by 2030, it will have manufactured 700,000 fuel cell systems.
While developing hydrogen technology, Hyundai is also making inroads in producing electric vehicles.
The company said it will have an electric vehicle lineup of 23 models by 2025, and has a global sales target of 560,000 vehicles by the same year.
Hyundai's affiliate Kia Motors debuted its high-end electric concept model Futuron at the second CIIE. The Futuron features chic design and high-level driver-machine interconnectivity, demonstrating Kia's confidence and determination to lead the future mobility, especially in the Chinese market, according to the automaker.
The Soul EV, another electric model exhibited by Kia, demonstrated to visitors its commitment to make electric travel more efficient and convenient.
Coupled with world-leading wireless charging technology, the Soul EV will be able to be quick-charged through a ground induction device in the future, according to Kia.
(Source: China Daily)
Micro LEDs open new growth windows for Chinese TV firms
Micro light-emitting diodes (LEDs), an emerging flat-panel display technology with immense growth potential, are expected to be applied in a range of fields, such as large-sized display products, wearables, augmented reality, virtual reality, optical sensors and fingerprint recognition, industry experts said.
Micro LEDs are based on tiny LEDs that are used to directly create color pixels. Compared with traditional liquid crystal display (LCD) technology, micro LED displays offer much better image quality and are highly efficient. Moreover, it promises to be brighter and more durable (longer lifetime) with a higher color gamut than organic light-emitting diodes (OLED).
According to LEDinside, a division of technology research firm TrendForce, the market value of micro LED products will reach $694 million by 2022. LEDinside expects that micro LED will be gradually applied to AR micro projections which require high brightness, automotive head-up display (HUD) projection applications and ultralarge digital display in the near future.
Chinese television manufacturer Konka Group Co Ltd said it will increase its investments in 5G, 8K ultra-high definition, the internet of things powered by artificial intelligence (AIoT) and micro LED, as part of a broader push to propel the development of the semiconductor display industry.
Shenzhen-based Konka also announced in September it plans to invest 1.5 billion yuan ($213 million) to establish a micro LED research institute together with Chongqing Liang Shan Investment Co for the research and development, production and sales of micro LEDs.
Zhou Bin, president of Konka, said the company's R&D investment increased by more than 20 percent year-on-year in 2018, emphasizing they will accelerate efforts in the micro LED sector, make a breakthrough in technological innovation and strengthen cooperation with partners, along with consumption upgrade.
Konka has unveiled its first micro LED TV named Smart Wall. "We have teamed up with Migu Co Ltd, China Mobile's entertainment content subsidiary, to build up a 5G ultra-high-definition laboratory, and established the first 5G commercial base with China Mobile's Shanghai branch," Zhou said.
The company invested 482 million yuan in R&D last year, mastered about 100 key technologies, and developed the Aphaea chip with independent intellectual property rights, he said.
According to Beijing-based consultancy All View Cloud, TV sales reached 22 million units nationwide in the first half of this year, down 2.7 percent compared with the same period last year, and related sales revenue totaled 64 billion yuan, a fall of 11.8 percent year-on-year.
The traditional TV market is almost saturated and companies need to seek new growth points, said Dong Min, an independent researcher in the home appliances sector.
Following LCD and OLED, micro LED is now one of the next-generation display technologies that are in the spotlight. South Korean tech giant Samsung Electronics Co Ltd unveiled its 146-inch modular TV featuring self-emitting micro LED technology during CES 2018 in Las Vegas last year.
LG Electronics also showcased its own 175-inch micro LED at IFA 2018, the world's leading trade show for consumer electronics and home appliances in Berlin. Media reported that Apple Inc is also planning to adopt advanced micro LED display technology in its wearable devices.
Chinese display panel makers, such as BOE Technology Group Co Ltd and Shenzhen China Star Optoelectronics Technology Co Ltd, a subsidiary of consumer electronics giant TCL Corp, have tapped into the micro LED panel industry.
"Major panel and home appliance manufacturers have marched into the micro LED sector to expand their portfolios of TV products, as micro LED display technology works as a supplement to the traditional LCD and OLED TV industry," said Liu Jiansheng, an analyst with Beijing-based market researcher Sigmaintell Consulting.
Liu added that micro LED technology will be adopted in 85-inch or above display products, while noting TV makers hope to enhance their competitiveness and profitability through developing diversified technologies.
However, LEDinside said the costs of micro LED remain too high for display panel makers, so it may cut into the market through high-end consumer products like gaming notebooks, gaming monitors, as well as niche products like high-end TVs with high resolution, high contrast and high color saturation.
Roger Chu, the research director of LEDinside, said micro LED itself has a lot of potential and could one day shine in lots of applications including VR devices, AR projection, optical sensors and fingerprint recognition, but the LCD and OLED technology still dominates the 100-inch and below display products.
Chu added that the biggest challenge is to find ways to enter into mass production in order to decrease manufacturing costs. The mass production requires efforts across different industries including LED, semiconductor devices and the entire display supply chain.
"New specification standards will raise the technology barrier for market entrants. The need for cross-industry collaboration will also prolong the R&D period for developers of micro LED displays."
(Source: China Daily)
Micro LEDs are based on tiny LEDs that are used to directly create color pixels. Compared with traditional liquid crystal display (LCD) technology, micro LED displays offer much better image quality and are highly efficient. Moreover, it promises to be brighter and more durable (longer lifetime) with a higher color gamut than organic light-emitting diodes (OLED).
According to LEDinside, a division of technology research firm TrendForce, the market value of micro LED products will reach $694 million by 2022. LEDinside expects that micro LED will be gradually applied to AR micro projections which require high brightness, automotive head-up display (HUD) projection applications and ultralarge digital display in the near future.
Chinese television manufacturer Konka Group Co Ltd said it will increase its investments in 5G, 8K ultra-high definition, the internet of things powered by artificial intelligence (AIoT) and micro LED, as part of a broader push to propel the development of the semiconductor display industry.
Shenzhen-based Konka also announced in September it plans to invest 1.5 billion yuan ($213 million) to establish a micro LED research institute together with Chongqing Liang Shan Investment Co for the research and development, production and sales of micro LEDs.
Zhou Bin, president of Konka, said the company's R&D investment increased by more than 20 percent year-on-year in 2018, emphasizing they will accelerate efforts in the micro LED sector, make a breakthrough in technological innovation and strengthen cooperation with partners, along with consumption upgrade.
Konka has unveiled its first micro LED TV named Smart Wall. "We have teamed up with Migu Co Ltd, China Mobile's entertainment content subsidiary, to build up a 5G ultra-high-definition laboratory, and established the first 5G commercial base with China Mobile's Shanghai branch," Zhou said.
The company invested 482 million yuan in R&D last year, mastered about 100 key technologies, and developed the Aphaea chip with independent intellectual property rights, he said.
According to Beijing-based consultancy All View Cloud, TV sales reached 22 million units nationwide in the first half of this year, down 2.7 percent compared with the same period last year, and related sales revenue totaled 64 billion yuan, a fall of 11.8 percent year-on-year.
The traditional TV market is almost saturated and companies need to seek new growth points, said Dong Min, an independent researcher in the home appliances sector.
Following LCD and OLED, micro LED is now one of the next-generation display technologies that are in the spotlight. South Korean tech giant Samsung Electronics Co Ltd unveiled its 146-inch modular TV featuring self-emitting micro LED technology during CES 2018 in Las Vegas last year.
LG Electronics also showcased its own 175-inch micro LED at IFA 2018, the world's leading trade show for consumer electronics and home appliances in Berlin. Media reported that Apple Inc is also planning to adopt advanced micro LED display technology in its wearable devices.
Chinese display panel makers, such as BOE Technology Group Co Ltd and Shenzhen China Star Optoelectronics Technology Co Ltd, a subsidiary of consumer electronics giant TCL Corp, have tapped into the micro LED panel industry.
"Major panel and home appliance manufacturers have marched into the micro LED sector to expand their portfolios of TV products, as micro LED display technology works as a supplement to the traditional LCD and OLED TV industry," said Liu Jiansheng, an analyst with Beijing-based market researcher Sigmaintell Consulting.
Liu added that micro LED technology will be adopted in 85-inch or above display products, while noting TV makers hope to enhance their competitiveness and profitability through developing diversified technologies.
However, LEDinside said the costs of micro LED remain too high for display panel makers, so it may cut into the market through high-end consumer products like gaming notebooks, gaming monitors, as well as niche products like high-end TVs with high resolution, high contrast and high color saturation.
Roger Chu, the research director of LEDinside, said micro LED itself has a lot of potential and could one day shine in lots of applications including VR devices, AR projection, optical sensors and fingerprint recognition, but the LCD and OLED technology still dominates the 100-inch and below display products.
Chu added that the biggest challenge is to find ways to enter into mass production in order to decrease manufacturing costs. The mass production requires efforts across different industries including LED, semiconductor devices and the entire display supply chain.
"New specification standards will raise the technology barrier for market entrants. The need for cross-industry collaboration will also prolong the R&D period for developers of micro LED displays."
(Source: China Daily)
Revolutionary simple blood tests for diabetic complications, cancer
With a revolutionary new approach that analyzed just a few drops of blood, scientists from Northwestern Medicine, the University of Chicago and Wuhan University in China detected earlier and more accurately if diabetic patients had developed life-threatening vascular complications such as heart disease, atherosclerosis and kidney failure.
It is the latest discovery in a new blood-testing technology that Northwestern scientists used most recently to detect liver cancer in patients and is now being tested in other major cancers.
“We’re very excited to apply our earlier findings in cancer patients to diabetic patients,” said co-corresponding author Wei Zhang, associate professor of cancer epidemiology and prevention at Northwestern University Feinberg School of Medicine. “This discovery is going to revolutionize how quickly and non-invasively we can identify potentially fatal complications in the hundreds of millions of diabetic patients worldwide.”
The prototype of this novel technology was developed by Dr. Chuan He, the John T. Wilson Distinguished Service Professor at the University of Chicago. Zhang and He worked together to create the blood test.
About two-thirds of the 424 million diabetic patients worldwide die from vascular (i.e. blood vessel) complications. Detecting these complications early could spur treatments to control the development of severe disease or death.
Current methods of diagnosing vascular complications in diabetic patients – analyzing a patient’s body mass index (BMI), the length of time they’ve had diabetes or a blood test analyzing how much waste product is present – are prone to error and don’t identify complications early enough to intervene with treatment.
This blood test is different. With just three to five milliliters of blood, the non-invasive, clinically convenient test analyzes a patient’s DNA by using highly sensitive blood biomarkers.
If the diabetic patient has developed a vascular complication, the damaged blood vessels release new DNA into the bloodstream, which appears in the blood test and signals the problem to doctors.
The findings were published Oct. 1 in Clinical Chemistry, the leading international journal of clinical laboratory science.
The study examined 62 diabetic patients (12 patients without vascular complications, 34 patients with a singular vascular complication and 16 with multiple vascular complications). This highly sensitive blood test was able to identify if a patient had vascular complications much more accurately than current diagnostic methods.
Prior to this study, the scientists used the blood test to analyze more than 3,000 people’s blood samples to accurately identify liver cancer in patients without mistakenly flagging those merely at risk.
Tissue biopsy is currently the gold standard for diagnosing liver cancer, but it is comparatively expensive, difficult, invasive and time-consuming. Although blood-based tests currently exist, they perform poorly in detecting early-stage cancers, which is a particular problem in liver cancer. This blood test vastly outperformed current blood tests by detecting about 88% of tumors, the previous study found.
Zhang, a member of the Robert H. Lurie Comprehensive Cancer Center of Northwestern University, and collaborators are currently testing this blood-analysis technology on other major cancers, including lymphoma, multiple myeloma and colon cancer. He is comprehensively comparing the technology with tissue biopsy in every cancer he and his collaborators study.
The goal is to test the technology on patients in a clinical trial, Zhang said, and eventually bring it into a real clinical setting.
“Ideally in the future, a patient could get their blood tested with this technology and check for a suite of different cancers,” Zhang said.
Chang Zeng, a graduate student in the Northwestern University Driskill Graduate Program in Life Sciences and a member of Zhang’s group, is a co-first author on the Clinical Chemistry paper. Other co-authors include Song-Mei Liu, Ying Yang and Ruoxi Ran of Wuhan University in China; Chuan He and Ji Nie of the University of Chicago; Xingyu Lu of Yanqun Song, Shanghai Epican Genetech Ltd.; and Zhou Zhang of Northwestern University.
(Source: Northwestern University)
It is the latest discovery in a new blood-testing technology that Northwestern scientists used most recently to detect liver cancer in patients and is now being tested in other major cancers.
“We’re very excited to apply our earlier findings in cancer patients to diabetic patients,” said co-corresponding author Wei Zhang, associate professor of cancer epidemiology and prevention at Northwestern University Feinberg School of Medicine. “This discovery is going to revolutionize how quickly and non-invasively we can identify potentially fatal complications in the hundreds of millions of diabetic patients worldwide.”
The prototype of this novel technology was developed by Dr. Chuan He, the John T. Wilson Distinguished Service Professor at the University of Chicago. Zhang and He worked together to create the blood test.
About two-thirds of the 424 million diabetic patients worldwide die from vascular (i.e. blood vessel) complications. Detecting these complications early could spur treatments to control the development of severe disease or death.
Current methods of diagnosing vascular complications in diabetic patients – analyzing a patient’s body mass index (BMI), the length of time they’ve had diabetes or a blood test analyzing how much waste product is present – are prone to error and don’t identify complications early enough to intervene with treatment.
This blood test is different. With just three to five milliliters of blood, the non-invasive, clinically convenient test analyzes a patient’s DNA by using highly sensitive blood biomarkers.
If the diabetic patient has developed a vascular complication, the damaged blood vessels release new DNA into the bloodstream, which appears in the blood test and signals the problem to doctors.
The findings were published Oct. 1 in Clinical Chemistry, the leading international journal of clinical laboratory science.
The study examined 62 diabetic patients (12 patients without vascular complications, 34 patients with a singular vascular complication and 16 with multiple vascular complications). This highly sensitive blood test was able to identify if a patient had vascular complications much more accurately than current diagnostic methods.
Prior to this study, the scientists used the blood test to analyze more than 3,000 people’s blood samples to accurately identify liver cancer in patients without mistakenly flagging those merely at risk.
Tissue biopsy is currently the gold standard for diagnosing liver cancer, but it is comparatively expensive, difficult, invasive and time-consuming. Although blood-based tests currently exist, they perform poorly in detecting early-stage cancers, which is a particular problem in liver cancer. This blood test vastly outperformed current blood tests by detecting about 88% of tumors, the previous study found.
Zhang, a member of the Robert H. Lurie Comprehensive Cancer Center of Northwestern University, and collaborators are currently testing this blood-analysis technology on other major cancers, including lymphoma, multiple myeloma and colon cancer. He is comprehensively comparing the technology with tissue biopsy in every cancer he and his collaborators study.
The goal is to test the technology on patients in a clinical trial, Zhang said, and eventually bring it into a real clinical setting.
“Ideally in the future, a patient could get their blood tested with this technology and check for a suite of different cancers,” Zhang said.
Chang Zeng, a graduate student in the Northwestern University Driskill Graduate Program in Life Sciences and a member of Zhang’s group, is a co-first author on the Clinical Chemistry paper. Other co-authors include Song-Mei Liu, Ying Yang and Ruoxi Ran of Wuhan University in China; Chuan He and Ji Nie of the University of Chicago; Xingyu Lu of Yanqun Song, Shanghai Epican Genetech Ltd.; and Zhou Zhang of Northwestern University.
(Source: Northwestern University)
India to Create Medical Device Parks for Affordable Treatment
Carrying the Make In India programme forward, the central government has now approved setting up of four medical device parks in the country.
According to The Hindu, the medical parks aimed at providing world-class treatment at affordable prices will be established in Andhra Pradesh, Telangana, Tamil Nadu and Kerala. Besides these states, Uttarakhand and Gujarat have also approached the centre for such parks.
Sources close to the matter said the parks will provide the necessary infrastructure to the companies where they can easily come and install their setup. “The support to medical equipment manufacturing companies will help easy access to standard testing facilities and reduce the cost of production,” they were quoted as saying.
Moreover, to make this initiative scalable, the government is even proposing to fund $3.2 Mn (INR 25 Cr) or 70%, whichever is lesser, of the project cost of setting up of common facility centre (CFCs).
For the establishment of the medical parks, Andhra Pradesh’ Medtech Zone for creation of CFCs has recently received its official approval for conducting testing and research of superconducting magnetic coil.
In India, the medical devices industry consists of large multinationals, with extensive service networks, as well as small and medium enterprises (SMEs).
According to Invest India, a national investment promotion and facilitation agency of India, the current market size of the medical devices industry in India is estimated to be $5.2 bn.
Invest India also suggests that India is largely an importer of medical devices, with domestic industry accounting for about 2% of the global industry which stands at $250 Bn, as per the estimates.
(Story: Inc42 / Aman Rawat)
According to The Hindu, the medical parks aimed at providing world-class treatment at affordable prices will be established in Andhra Pradesh, Telangana, Tamil Nadu and Kerala. Besides these states, Uttarakhand and Gujarat have also approached the centre for such parks.
Sources close to the matter said the parks will provide the necessary infrastructure to the companies where they can easily come and install their setup. “The support to medical equipment manufacturing companies will help easy access to standard testing facilities and reduce the cost of production,” they were quoted as saying.
Moreover, to make this initiative scalable, the government is even proposing to fund $3.2 Mn (INR 25 Cr) or 70%, whichever is lesser, of the project cost of setting up of common facility centre (CFCs).
For the establishment of the medical parks, Andhra Pradesh’ Medtech Zone for creation of CFCs has recently received its official approval for conducting testing and research of superconducting magnetic coil.
In India, the medical devices industry consists of large multinationals, with extensive service networks, as well as small and medium enterprises (SMEs).
According to Invest India, a national investment promotion and facilitation agency of India, the current market size of the medical devices industry in India is estimated to be $5.2 bn.
Invest India also suggests that India is largely an importer of medical devices, with domestic industry accounting for about 2% of the global industry which stands at $250 Bn, as per the estimates.
(Story: Inc42 / Aman Rawat)
Volkswagen to set up technology development center in China
The new technology development center set up by the Sino-German joint venture FAW-Volkswagen Automotive Co Ltd will vastly improve the technology advantage of the overall auto industry and the company, officials said.
It will also promote research and development of automobile hardware, research on vehicle safety, performance, drive systems, intelligent lighting systems and so on, they said.
Spread over an area of 69,900 square meters, work on the project commenced last month in Changchun, capital of Northeast China's Jilin province.
The project, with an investment of 960 million yuan ($137 million), is expected to begin operations in September 2021 and will also help upgrade and improve test equipment and facilities for new energy vehicles.
It will also promote research and development of automobile hardware, research on vehicle safety, performance, drive systems, intelligent lighting systems and so on, they said.
Spread over an area of 69,900 square meters, work on the project commenced last month in Changchun, capital of Northeast China's Jilin province.
The project, with an investment of 960 million yuan ($137 million), is expected to begin operations in September 2021 and will also help upgrade and improve test equipment and facilities for new energy vehicles.
11 November 2019
New driverless metro train passes test in China
A newly developed driverless metro train has passed further testing with a higher level of automation, faster speeds and lower energy consumption, its developer said.
Developed by the CRRC Tangshan Co. Ltd., one of China's major high-speed train manufacturers, the metro train can operate automatically at all times, including opening and closing doors, detecting obstacles and handling emergencies.
The train, with six carriages, can carry up to 2,300 people in one trip. The test model is designed to run at a maximum speed of 120 km per hour, 50 percent faster than the normal subways in cities at home and abroad.
Made of lightweight stainless steel, the intelligent metro train is much lighter than traditional ones, and each metro can save around 4 million kilowatt-hours of electricity per year.
Developed by the CRRC Tangshan Co. Ltd., one of China's major high-speed train manufacturers, the metro train can operate automatically at all times, including opening and closing doors, detecting obstacles and handling emergencies.
The train, with six carriages, can carry up to 2,300 people in one trip. The test model is designed to run at a maximum speed of 120 km per hour, 50 percent faster than the normal subways in cities at home and abroad.
Made of lightweight stainless steel, the intelligent metro train is much lighter than traditional ones, and each metro can save around 4 million kilowatt-hours of electricity per year.
Japan's household spending rises
Household spending in Japan increased at the fastest pace on record in September from a year earlier, as a consumption tax hike from eight to 10 percent starting Oct. 1 spurred last-minute buying, the government said in a report on Friday.
According to the Ministry of Internal Affairs and Communications, household spending jumped 9.5 percent in the recording month to 300,609 yen (2,750 U.S. dollars), marking the 10th successive month of increase and the highest year-on-year rise in real terms since comparable data became available.
According to the Ministry of Internal Affairs and Communications, household spending jumped 9.5 percent in the recording month to 300,609 yen (2,750 U.S. dollars), marking the 10th successive month of increase and the highest year-on-year rise in real terms since comparable data became available.
2nd China Yangtze River Writers' Week kicks off in Nanjing
The opening ceremony of the 2nd China Yangtze River Writers' Week was held in the city of Nanjing, capital of east China's Jiangsu Province on Sunday. Chinese writers Ouyang Jianghe, Chen Yingsong and Xu Zechen, Syrian poet Adonis, French writer Dominique Sigaud and British writer Simon Van Booy attended the opening ceremony.
Over 70 writers, critics and workers in the field of literature from countries including China, Syria, France and the U.K. gathered in Nanjing to share creative ideas and talk about their works.
The writers' week, serving as a platform for the exchange of Chinese and Western literature, will last until Friday.
During the writers' week, renowned writers from home and abroad will attend more than 20 activities, such as thematic forums, new book sharing, conversation and poetry reading, in schools, libraries and bookstores in the cities of Nanjing, Wuxi, Yangzhou and Suzhou.
Over 70 writers, critics and workers in the field of literature from countries including China, Syria, France and the U.K. gathered in Nanjing to share creative ideas and talk about their works.
The writers' week, serving as a platform for the exchange of Chinese and Western literature, will last until Friday.
During the writers' week, renowned writers from home and abroad will attend more than 20 activities, such as thematic forums, new book sharing, conversation and poetry reading, in schools, libraries and bookstores in the cities of Nanjing, Wuxi, Yangzhou and Suzhou.
Swiss Gastronomic Week comes to Beijing
Two Michelin-starred chef Rolf Fliegauf from Switzerland is bringing his signature dishes to the fifth Swiss Gastronomic Week at Hotel Eclat in Beijing till Nov 10.
Rolf Fliegauf, founder and executive chef of ECCO restaurant, will be exciting Beijing palates with the finest cuisine that retains its ingredients' original flavors, reproducing the essence Swiss nature directly onto the plates.
The menu begins with "bircher muesli", the typical Swiss breakfast that has gained popularity around the world. A twist - the star ingredient of this muesli is goose liver, which is meticulously served with ice cream, pickled apple and caramelized cereal.
"The dishes that we will cook in Beijing are a showcase of Swiss gastronomy. Some classic and traditional dishes reinterpreted, inspired by nature, all presented with a modern twist," said Fliegauf, 39, who was awarded two-Michelin stars by the age of 29, making him the youngest chef to win the honor at the time.
Bernardino Regazzoni, Swiss ambassador to China, believes the Swiss Gastronomic Week is a perfect opportunity to introduce modern Swiss fine dining and cuisine to Chinese food lovers.
"As a multilingual and multicultural country, Switzerland prides itself on its diverse culinary culture. Modern Swiss gastronomy is one slice of today's Switzerland, which is innovative and dynamic," Regazzoni said.
(Source: China Daily)
Rolf Fliegauf, founder and executive chef of ECCO restaurant, will be exciting Beijing palates with the finest cuisine that retains its ingredients' original flavors, reproducing the essence Swiss nature directly onto the plates.
The menu begins with "bircher muesli", the typical Swiss breakfast that has gained popularity around the world. A twist - the star ingredient of this muesli is goose liver, which is meticulously served with ice cream, pickled apple and caramelized cereal.
"The dishes that we will cook in Beijing are a showcase of Swiss gastronomy. Some classic and traditional dishes reinterpreted, inspired by nature, all presented with a modern twist," said Fliegauf, 39, who was awarded two-Michelin stars by the age of 29, making him the youngest chef to win the honor at the time.
Bernardino Regazzoni, Swiss ambassador to China, believes the Swiss Gastronomic Week is a perfect opportunity to introduce modern Swiss fine dining and cuisine to Chinese food lovers.
"As a multilingual and multicultural country, Switzerland prides itself on its diverse culinary culture. Modern Swiss gastronomy is one slice of today's Switzerland, which is innovative and dynamic," Regazzoni said.
(Source: China Daily)
Lower-tier cities in China becoming a key sales-booster for e-marketplaces
Lower-tier cities and small towns in China used to be regarded as less sophisticated, but the recent better-than-expected performance of some e-commerce and retail companies in such places has shown that they have impressive purchasing power as well as the potential to spawn new business opportunities outside the fiercely competitive markets in higher-tier cities, industry insiders said.
Jiang Fan, president of Tmall and Taobao, Chinese e-commerce giant Alibaba's online marketplaces, said at a conference in September that more than 70 percent of their new consumers came from lower-tier cities and small towns over the last two years. New users spend on average more than 2,000 yuan ($281) in the first year after their registration.
Dyson, a household appliance maker from the United Kingdom, reported a 118-percent rise in sales in Chinese lower-tier cities this year, compared to 21 percent in first-tier cities, according to a report from global consultancy Prophet.
Chinese retailer Suning also showed its sales of electric toothbrushes, dish washers and floor mopping robots in county-level markets increased by 35 percent, 497 percent and 313 percent in the second half of 2018 compared with the first half.
Jiang Fan, president of Tmall and Taobao, Chinese e-commerce giant Alibaba's online marketplaces, said at a conference in September that more than 70 percent of their new consumers came from lower-tier cities and small towns over the last two years. New users spend on average more than 2,000 yuan ($281) in the first year after their registration.
Dyson, a household appliance maker from the United Kingdom, reported a 118-percent rise in sales in Chinese lower-tier cities this year, compared to 21 percent in first-tier cities, according to a report from global consultancy Prophet.
Chinese retailer Suning also showed its sales of electric toothbrushes, dish washers and floor mopping robots in county-level markets increased by 35 percent, 497 percent and 313 percent in the second half of 2018 compared with the first half.
Xi begins state visit to Greece
President Xi Jinping called on China and Greece to tap their civilizations for wisdom and build a new type of international relations featuring respect, justice and mutually beneficial cooperation.
He made the remark in a signed article published on Sunday in the Greek newspaper Kathimerini (The Daily) as he kicked off a three-day state visit to the European country.
Xi will travel to Brazil on Tuesday at the invitation of President Jair Bolsonaro and will attend the 11th BRICS Summit on Wednesday and Thursday.
In Greece, Xi is scheduled to have talks with Greek President Prokopis Pavlopoulos and Prime Minister Kyriakos Mitsotakis. The leaders are also expected to make cultural exchanges and advocate dialogue between civilizations.
Recalling a stopover on the Aegean island of Rhodes in 2014 that deeply impressed him, Xi wrote: "It is with great respect for civilizations and high expectations for a bright future that I will once again visit this beautiful country, something I very much look forward to."
Great civilizations always stand by each other, Xi said, citing the examples of Greek shipowners who broke through an international blockade to send much-needed supplies and equipment to the People's Republic of China after its founding, and China providing assistance to help Greek friends emerge from economic woes a decade ago.
(Source: China Daily)
He made the remark in a signed article published on Sunday in the Greek newspaper Kathimerini (The Daily) as he kicked off a three-day state visit to the European country.
Xi will travel to Brazil on Tuesday at the invitation of President Jair Bolsonaro and will attend the 11th BRICS Summit on Wednesday and Thursday.
In Greece, Xi is scheduled to have talks with Greek President Prokopis Pavlopoulos and Prime Minister Kyriakos Mitsotakis. The leaders are also expected to make cultural exchanges and advocate dialogue between civilizations.
Recalling a stopover on the Aegean island of Rhodes in 2014 that deeply impressed him, Xi wrote: "It is with great respect for civilizations and high expectations for a bright future that I will once again visit this beautiful country, something I very much look forward to."
Great civilizations always stand by each other, Xi said, citing the examples of Greek shipowners who broke through an international blockade to send much-needed supplies and equipment to the People's Republic of China after its founding, and China providing assistance to help Greek friends emerge from economic woes a decade ago.
(Source: China Daily)
EU and China closed GI agreement
The EU and China concluded the negotiations on a bilateral agreement to protect 100 European Geographical Indications (GI) in China and 100 Chinese GI in the EU against imitations and usurpation. This landmark agreement is expected to result in reciprocal trade benefits and demand for high-quality products on both sides. Delivering on the commitment made at the last EU-China Summit in April 2019, this agreement is a concrete example of cooperation between the European Union and the People's Republic of China, reflecting the openness and adherence of both sides to international rules as a basis for trade relations.
Agriculture and rural development Commissioner Phil Hogan said: “European Geographical Indication products are renowned across the world for their quality. Consumers are willing to pay a higher price, trusting the origin and authenticity of these products, while further rewarding farmers. This agreement shows our commitment to working closely with our global trading partners such as China. It is a win for both parties, strengthening our trading relationship, benefitting our agricultural and food sectors, and consumers on both sides.”
China is the second destination for EU agri-food exports, reaching €12.8 billion (in the 12-month period between September 2018 and August 2019). It is also the second destination of EU exports of products protected as Geographical Indications, accounting for 9% of its value, including wines, agri-food products and spirit drinks.
The Chinese market is a high-growth potential market for European food and drinks, with a growing middle class with a taste for iconic, high-quality and genuine European products. It also has a well-established geographical indication system of its own, with specialties that European consumers could now further discover thanks to this agreement.
The EU list of GI to be protected in China includes products such as Cava, Champagne, Feta, Irish whiskey, Münchener Bier, Ouzo, Polska Wódka, Porto, Prosciutto di Parma and Queso Manchego. Among the Chinese products, the list includes for example Pixian Dou Ban (Pixian Bean Paste), Anji Bai Cha (Anji White Tea), Panjin Da Mi (Panjin rice) and Anqiu Da Jiang (Anqiu Ginger).
Following the conclusion of the negotiations, the agreement will now go through legal scrutiny. On the EU side, the European Parliament and the Council will then be asked to give their approval. The agreement is expected to enter into force before the end of 2020.
Four years after its entry into force, the scope of the agreement will expand to cover an additional 175 GI names from both sides. These names will have to follow the same registration procedure than the 100 names already covered by the agreement (i.e assessment and publication for comments).
EU-China cooperation on Geographical Indications began over 10 years ago (2006) resulting in the registration and protection of 10 Geographical Indication names on both sides in 2012, the starting block for today's cooperation.
(Source: EU Commission)
Agriculture and rural development Commissioner Phil Hogan said: “European Geographical Indication products are renowned across the world for their quality. Consumers are willing to pay a higher price, trusting the origin and authenticity of these products, while further rewarding farmers. This agreement shows our commitment to working closely with our global trading partners such as China. It is a win for both parties, strengthening our trading relationship, benefitting our agricultural and food sectors, and consumers on both sides.”
China is the second destination for EU agri-food exports, reaching €12.8 billion (in the 12-month period between September 2018 and August 2019). It is also the second destination of EU exports of products protected as Geographical Indications, accounting for 9% of its value, including wines, agri-food products and spirit drinks.
The Chinese market is a high-growth potential market for European food and drinks, with a growing middle class with a taste for iconic, high-quality and genuine European products. It also has a well-established geographical indication system of its own, with specialties that European consumers could now further discover thanks to this agreement.
The EU list of GI to be protected in China includes products such as Cava, Champagne, Feta, Irish whiskey, Münchener Bier, Ouzo, Polska Wódka, Porto, Prosciutto di Parma and Queso Manchego. Among the Chinese products, the list includes for example Pixian Dou Ban (Pixian Bean Paste), Anji Bai Cha (Anji White Tea), Panjin Da Mi (Panjin rice) and Anqiu Da Jiang (Anqiu Ginger).
Following the conclusion of the negotiations, the agreement will now go through legal scrutiny. On the EU side, the European Parliament and the Council will then be asked to give their approval. The agreement is expected to enter into force before the end of 2020.
Four years after its entry into force, the scope of the agreement will expand to cover an additional 175 GI names from both sides. These names will have to follow the same registration procedure than the 100 names already covered by the agreement (i.e assessment and publication for comments).
EU-China cooperation on Geographical Indications began over 10 years ago (2006) resulting in the registration and protection of 10 Geographical Indication names on both sides in 2012, the starting block for today's cooperation.
(Source: EU Commission)
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