China imports iron ore at higher prices
12 Jun 2019 - China imported 424 million tons of iron ore during the period of January to May, 5.2% less than a year ago, but the average import price surged 24.8% to RMB570.6 per ton.
Shanghai Electric builds solar plant for GFG Alliance
06 Jun 2019 - Shanghai Electric and GFG Alliance of Australia signed an agreement to build a solar power plant in South Australia, supporting the expansion of a local steel factory.
Nanjing Metro to issue RMB10bn bonds
28 May 2019 - Nanjing Metro Group was given a nod by the National Development and Reform Commission (NDRC) to issue RMB10 billion of corporate bonds for replenishing working capitals and for constructing subway transports. It is the second time a subway group, after Guangzhou Metro, is approved a green bond issuance.
Shanghai cuts redundancy to speed export tax rebates
27 Feb 2019 – Ever since the municipal of Shanghai launched a “single window” export tax rebate reporting and application system in early 2018, over 15,000 companies have been able to cut redundant reporting on 240 million items. At year-end 2018, a majority 80% of Shanghai’s export tax rebate applications were filed and completed through the “single window” method.
China's financial ODI soared 105% in 2018
02 Feb 2019 - All industries in China directly invested US$129.83 billion in overseas projects and companies in 2018, posting a 4.2% growth over a year ago. Among all kinds of investments, financial overseas direct investments (ODI) rocketed by 105.1% over a year earlier to a total value of US$9.33 billion. Non-financial overseas direct investments only grew by 0.3% to US$120.5 billion.
Zhejiang-owned firms earn stable profits
29 Jan 2019 – Zhejiang provincial government-owned companies earned stable incomes and profits, posting a double-digit growth in 2018. All Zhejiang-owned companies earned sales revenue of RMB871.45 billion, posting a 12.5% growth over 2017. They earned a total profits of RMB37.14 billion, climbing 16%. There were nine companies earning 10% or more profits. Ended 2018, Zhejiang province-owned companies had a combined total assets of RMB1.19 trillion, an increase of 8.1% over 2017. Their net assets also grew 8.2% to RMB480.89 billion.