By Xinhuanet| 2022-03-21 17:49:48

China's installed capacity for generating wind and solar power increased dramatically in the first two months of the year as the country revs up efforts to achieve carbon neutrality, official data showed.In the January-February period, the installed capacity of wind power jumped 17.5 percent year on year to reach 330 million kilowatts, said the National Energy Administration.Solar power installed capacity reached 320 million kilowatts during the period, a surge of 22.7 percent from a year ago, the data showed.By the end of last month, China's total installed power generation capacity stood at 2.39 billion kilowatts, up 7.8 percent year on year.The world's second-largest economy has announced that it will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.To that end, China aims to gradually increase the share of non-fossil energy consumption to around 20 percent by 2025, around 25 percent by 2030, and over 80 percent by 2060, according to a document released by the Communist Party of China Central Committee and the State Council. 

By Xinhuanet| 2022-03-18 17:43:37

Central China's Hunan Province saw robust foreign trade growth in the first two months of 2022, customs data showed.The province's total import and export value hit 76.84 billion yuan (about 12.12 billion U.S. dollars) from January to February, up 10.7 percent year on year.Of the total, exports rose 12.1 percent year on year to 50.48 billion yuan, while imports gained 8.2 percent to 26.36 billion yuan.During the period, the Association of Southeast Asian Nations, the United States, and the European Union were the major trading partners of Hunan. The import and export to the regions reached 14.84 billion yuan, 9.01 billion yuan, and 8.16 billion yuan, respectively.The trade between the province and member states of the Regional Comprehensive Economic Partnership (RCEP) hit 25.31 billion yuan, up 23.1 percent year on year, from January to February. 

By Xinhuanet| 2022-03-17 16:13:52

China's industrial production expanded in the first two months of the year, with the high-tech manufacturing sector posting stellar performance, official data showed Tuesday.China's value-added industrial output, an important economic indicator, went up 7.5 percent year on year in the period, according to data from the National Bureau of Statistics (NBS).Despite unfavorable factors such as the COVID-19 pandemic and a complex international environment, China's production demand registered relatively rapid growth, NBS spokesperson Fu Linghui said.The output of the high-tech manufacturing sector jumped 14.4 percent year on year from January to February.Specifically, the output of new energy vehicles logged a marked increase of 150.5 percent, while that of industrial robots and solar batteries jumped 29.6 percent and 26.4 percent year on year, respectively.In a breakdown by ownership, the output of state-owned enterprises rose 5.9 percent from a year earlier, and the private sector's output increased 8.7 percent.The industrial output is used to measure the activity of designated large enterprises with an annual business turnover of at least 20 million yuan (about 3.14 million U.S. dollars).The purchasing managers' index for China's manufacturing sector came in at 50.2 in February, up from 50.1 in January. ■

By Xinhuanet| 2022-03-17 16:11:50

East China's Jiangsu Province saw robust foreign trade growth in the first two months of 2022, according to its capital city Nanjing customs.The province's total import and export value hit 839.7 billion yuan (about 131.7 billion U.S. dollars) from January to February, up 15.1 percent year on year, official data showed.Of the total, exports rose 13.7 percent year on year to 521.7 billion yuan, while imports gained 17.6 percent to 318a billion yuan.During the period, the three major trading partners of Jiangsu were the European Union, the Association of Southeast Asian Nations and the United States. The import and export value reached 126.6 billion yuan, 117.8 billion yuan and 111.6 billion yuan respectively.Imports and exports between the province and the countries and regions along the Belt and Road soared to 219.2 billion yuan, up 18.2 percent compared with the same period in 2021.Jiangsu's exports of integrated circuits, electrical equipment, solar cells increased significantly. During the period, the province exported 348.6 billion yuan of mechanical and electrical products, up 12.8 percent year-on-year, accounting for 66.8 percent of the total export value. ■

By Xinhuanet| 2022-03-17 16:07:50

Brazilian plane-maker Embraer is optimistic about China's booming air-cargo market and is willing to support the sectors' further progress in cooperation with local partners, said senior executives of the company."China has played key roles in sustaining the global supply chain and industrial chain, especially during the global pandemic period, highlighting the value of the air-cargo sector," said Guo Qing, managing director of Embraer China.The country's high-quality growth will create new market opportunities for global players, Guo added.China's air-cargo market is a highlight in the global market, according to Guo, and like other markets, it is powered by demands from the e-commerce and logistics sectors. It also shows unique demands and market ecology in line with the country's social-economic conditions and geographical environment, he said.In 2021, China handled up to 108.3 billion express parcels, a 29.9 percent year-on-year increase. The parcel volume accounted for half of the global total, statistics from the State Post Bureau show."An upgraded air-cargo market will be greatly powered by China's dual circulation development paradigm, where domestic and overseas markets reinforce each other," said Guo.He says the country's consumption upgrade will promote the logistics industry, including the burgeoning air-freight cold-chain sector, and the industry upgrade will push forward the reconstruction of the industrial chain."Both upgrades will demand faster and more efficient air-logistics services. Embraer has recently launched the E-Jet series passenger-to-freighter aircraft conversion project to provide small-and-crossover standard-body freighters to the market," he said.Embraer forecasts a market demand for about 700 of the small-and-crossover standard-body freighters over the next 20 years. Among which, the Chinese market is forecast to demand 240 freighters of this size, accounting for 34 percent of the global total."Aside from various aircraft models, Embraer can also provide customers with full life-cycle services ranging from spare-parts support to financial leasing, among others," said Mike Xu, chief operating officer of Embraer China."Together with local partners, we have also established a complete pilot training network to better serve our Chinese customers," Xu added.By the end of 2025, China will have over 270 civil transport airports, which will handle 17 million flights a year, according to a plan on the development of the country's civil aviation industry during the 14th Five-Year Plan period (2021-2025).The country's civil aviation sector will handle 930 million passenger trips and 9.5 million tonnes of cargo and parcels annually by 2025, said the plan released by Civil Aviation Administration of China. 

By Xinhuanet| 2022-03-17 16:04:02

China's economic hub Shanghai saw its foreign trade expand 22 percent to a total of 674.5 billion yuan (about 106.3 billion U.S. dollars) in the first two months of 2022, according to data from customs authorities.During the period, the municipality's exports rose by 24.5 percent to about 279.5 billion yuan, while imports went up 20.3 percent to 395 billion yuan.The European Union, the Association of Southeast Asian Nations and the United States were among the largest trading partners of Shanghai from January to February.Notably, the city registered surging exports of automobiles and mobile phones in the first two months of this year, increasing by 242 percent and 289 percent year on year respectively.High-tech and new-technology products including integrated circuits and automatic data processing equipment and its components accounted for 29.8 percent of its total import value, according to the local customs. 

By Xinhuanet| 2022-03-14 21:06:32

East China's Anhui Province saw robust foreign trade growth in the first two months of 2022, according to local customs.The province's total import and export value hit 112.8 billion yuan (about 17.75 billion U.S. dollars) from January to February, up 22.3 percent year on year, data from Hefei Customs showed.Of the total, exports rose 25.4 percent year on year to 65.39 billion yuan, while imports gained 18.3 percent to 47.41 billion yuan.During the period, the three major trading partners of Anhui were the United States, the European Union and the Association of Southeast Asian Nations.Imports and exports between the province and countries along the Belt and Road soared to 28.77 billion yuan, up 23.8 percent compared with the same period in 2021.The trade volume between the province and member states of the Regional Comprehensive Economic Partnership hit 28 billion yuan, up 14.6 percent year on year and accounting for 24.8 percent of the province's total imports and exports from January to February. ■

By Xinhuanet| 2022-03-13 17:00:16

China's major excavator manufacturers saw their exports surge in the first two months of the year, industry data showed.During the period, the country's 26 leading excavator makers exported 14,760 units, surging 101.1 percent year on year, according to the China Construction Machinery Association.Domestic sales of the equipment decreased by 37.6 percent year on year to 25,330 units. This brought the total excavator sales in the January-February period to 40,090 units.In February alone, total sales of excavators fell 13.5 percent year on year to 24,483 units. Of the total, exports reached 7,431 units, logging a sharp rise of 97.7 percent. ■

By Xinhuanet| 2022-03-09 19:40:01

China will work to ensure the number of 5G base stations tops 2 million this year, Minister of Industry and Information Technology Xiao Yaqing said Tuesday.China currently houses around 1.43 million 5G base stations and over 500 million 5G users, Xiao told journalists on the sidelines of the ongoing "two sessions," adding that the country will also make plans to develop 6G technology.When asked about China's current performance of industry, Xiao voiced confidence over stability while listing challenges ahead, including rising raw material prices, COVID-19-affected logistics and changes in the external environment.He said the country will work to smooth the supply chain and industrial chain, and propel the transition to medium- and high-end manufacturing. More efforts will be made to nurture small- and medium-sized enterprises, especially those specializing in a niche market and boasting cutting-edge technologies, he added.The "two sessions," the annual meetings of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference, will run through Friday. 

By Xinhuanet| 2022-03-08 21:40:46

China will carry out major reform measures to further stimulate growth and reduce pressure on its economic and social development, the country's top economic planner said Monday.Reforms will focus on five areas, including stimulating the vitality of market entities, stabilizing growth, expanding domestic demand, promoting high-level opening-up and pushing green transition, Lian Weiliang, deputy director of the National Development and Reform Commission (NDRC), told a press conference.To stabilize growth, Lian said that social capital will be better leveraged to increase effective investment.The commission stressed a bigger role of market entities in building new infrastructures in the country, pledging lower thresholds, stronger policy support and a more enabling business climate for social capital.In response to questions on the consumption growth outlook, Hu Zucai, also deputy director of the NDRC, shrugged off concerns over a slower recovery pace of consumption.China's consumption has re-established itself as the key driver of growth, Hu said, citing the fact that China's retail sales of consumer goods posted a 12.5-percent year-on-year increase last year, with final consumption expenditure contributing 65.4 percent to full-year economic growth.Reform measures in the sector are expected to help improve the consumption environment, promote the recovery of the sector and further expand China's middle-income group, according to Lian.The commission will implement pro-employment policies, improve social security and increase the incomes of low- and middle-income groups as stronger spending power is the basis of expanding consumption, Hu added.In addition to boosting growth at home through reforms, the economic planner also noted that challenges, including global commodity prices hikes and energy supply strains, might persist and hinder development.Despite these headwinds, the commission voiced confidence in the country's economic growth. "Chinese economy boasts strong resilience as it is underpinned by a big market and abundant policy toolkit," Hu said.China has set its economic growth target at around 5.5 percent in 2022. The country saw a strong rebound with 8.1-percent growth in 2021 and was the only major economy to record growth in 2020.