One-line news
May-29-2017 By : fcccadmin
- The Chinese government welcomed the U.S. Senate’s confirmation of Iowa Governor Terry Branstad as U.S. Ambassador to Beijing. “For a long time, Mr Branstad has been playing a positive role in promoting bilateral exchanges and friendship,” Chinese Foreign Ministry Spokeswoman Hua Chunying said. Branstad has known Chinese President Xi Jinping since the mid-1980s.
- Asia’s first commercial carbon capture and storage (CCS) project will begin to operate in Shaanxi province next year. Carbon dioxide emissions generated by power stations and steel companies are captured, then transported and pumped deep underground. The injected captured carbon will boost Yanchang’s Oil Co’s oil recovery rate by about 8%.
- The fiery Chinese liquor baijiu from Kweichow Moutai has become popular again, sending the stock of the company to new heights. The company’s flagship product, Feitian, with 53% alcohol, is in short supply across the country as retailers, wholesalers and even consumers start to hoard bottled Moutai as an inflation-proof investment. The market price for a bottle of 2014 Moutai Feitian can reach well above CNY2,000, almost double that of a year ago.
- Wei Minzhou, Vice Chairman of the Shaanxi Provincial People’s Congress, and a former Party Secretary of Xian, has been placed under investigation. The announcement came less than three hours after he appeared on the provincial evening newscast, having attended several official functions that day.
- CEOs of America’s largest steelmakers said global overcapacity is at crisis levels as they urged the U.S. government to determine that cheap steel imports are a threat to national security. China’s steel exports to the U.S. have declined by more than 67% since September 2015 and the U.S. has enough domestic supply to meet its own needs.
- Chen Xu, the former top prosecutor in Shanghai has been expelled from the Communist Party over a range of violations and is facing a lawsuit for corruption.
- China’s population may have 90 million fewer inhabitants than official data suggests, according to a group of researchers, meaning it will be replaced by India as the world’s most populous country sooner than expected. China’s real population may have been about 1.29 billion last year, according to Yi Fuxian, Researcher at the University of Wisconsin-Madison.
- Lenovo Group, the world’s largest personal-computer maker, reported a return to profit but said rising component prices could pressure its bottom line this year. Profit reached USD535 million in the year to March on revenue that fell 4%. Lenovo’s annual shipments fell 1% with its market share rising 0.4 percentage points to a record 21.4%.
- Civil servants will face new restrictions when changing jobs as the authorities move to prevent them from using official posts to make personal profit. Those in leadership positions at the county level and above will not be allowed to work in businesses or for-profit organizations related to their previous administration within three years of their resignation.
- China’s listed steel companies earned over CNY11 billion of net profits in the first quarter to post the best performance in nine years, as prices surged amid a supply cut. Baoshan Iron and Steel Co led with a quarterly net profit of CNY5.05 billion, a surge of 118.2% from a year earlier. Only three of the 33 listed steelmakers posted losses.
One-line news
May-22-2017 By : fcccadmin
- Chinese cybersecurity firm Rising claims to have developed a “vaccine” for all ransomware viruses, including WannaCry. The company made available a free program called Rising Sword on its website that it said would protect computers from all ransomware.
One-line news
May-15-2017 By : fcccadmin
- Wang Bao’an, former Director of the National Bureau of Statistics (NBS), has pleaded guilty to accepting the equivalent of USD22 million in bribes between 1994 and 2016, and abuse of power, the Zhangjiakou Intermediate People’s Court heard. Wang was Vice Minister of Finance from 2012 until April 2015.
- Han Zheng was reelected Shanghai Party Secretary at the 11th Shanghai Party Congress. Ying Yong and Yin Hong were also reelected Deputy Party Secretaries. The other members of the Standing Committee are Dong Yunhu, Liao Guoxun, Wu Jingping, Zhou Bo, Chen Yin, Weng Zuliang, Zhuge Yujie and Shi Xiaolin. The last three are new on the Committee.
- China’s first national logistics laboratory – the National Engineering Laboratory for Logistic Information Technology – was set up in Shanghai over the weekend. It will focus on unmanned courier delivery and other artificial intelligence services.
- Chinese internet security company Qihoo 360 has made a software tool available that can recover data encrypted by the “WannaCry” malware attack. The software can operate without internet access and is free of charge. The recovery kit is in Chinese only. China National Petroleum Corp (CNPC) said the payment system in some of its gas stations could not function due to the virus.
One-line news
May-08-2017 By : fcccadmin
- Chen Shulong, former Vice Governor of Anhui province, has been expelled from the Communist Party of China and dismissed from public office for actions including “superstitious activities” and trading power for sex. He also abused his power to seek “huge profits,” according to a statement from the Central Commission for Discipline Inspection (CCDI).
- Apple reported its fifth consecutive quarter of revenue decline for its greater China business, amid intense competition from Chinese smartphone brands led by Huawei Technologies, Oppo and Vivo. Apple reported a 14% decrease in combined first-quarter revenue from mainland China, Hong Kong and Taiwan to USD10.7 billion, compared with USD12.5 billion a year ago.
One-line news
May-02-2017 By : fcccadmin
- China’s installed wind power capacity continued to grow in the first quarter of this year, according to the National Energy Administration (NEA). China had 151 million kilowatts of installed wind power capacity at the end of the first quarter, up 13% year-on-year.
- China’s push to convert coal into synthetic natural gas (SNG) could prevent tens of thousands of premature deaths a year, but possibly at the cost of emitting more greenhouse gases, a study published in the Proceedings of the National Academy of Sciences has found. SNG produces far fewer harmful pollutants, but the use of SNG would increase carbon emissions.
- The social networking app WeChat is now increasingly used for workplace communications, even replacing e-mails. The annual WeChat user behavior report by Penguin Intelligence, a Tencent research arm, found that 87.7% of WeChat users use the app for daily work communication. Phones, text messages and fax machines were used by 59.5%, and email by 22.6%.
- There are now more than 43,000 cinema screens in China, more than in the United States, and 3,179 screens opened during the first three months of 2017 – an average of 36 screens per day at a time when box office takings are falling. The value of ticket sales for the first quarter of 2017 was CNY13.5 billion, a drop of 7% compared with the same period in 2016.
- China Telecom reported a 4.5% jump in net profit to CNY5.35 billion for the first quarter of the year thanks to a steady increase in the number of 4G users and a rise in mobile service revenues. China Telecom’s mobile subscribers grew 3% to 222 million in the first quarter, of which over 62% are 4G subscribers.
- China is willing to spend as much money as needed in its fight against air pollution, Premier Li Keqiang said. At an executive meeting of the State Council, Li spoke about how finding a solution to smog had become an “urgent” matter for people’s health and the quality of their lives. The Ministry of Finance raised the budget for curbing air pollution by 250% this year, to CNY40 million.
- A court in China jailed Ai Baojun, former Chairman of Baoshan Iron and Steel, who went on to become Vice Mayor of Shanghai, to 17 years for bribery and graft. He had used his positions to amass more than CNY40 million in assets from 2000 to 2014. Ai is the most senior official in Shanghai to be sentenced in the anti-corruption campaign.
