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.
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