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Sinopec Residual current circuit breaker commences expansion of Beihai refinery
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Sinopec commences expansion of Beihai refineryPublished: 18 Dec 2008 02:35:33 PSTDec. 18, 2008 (China Knowledge) – China Petroleum & Chemical Corporation Ltd (Sinopec)<600028><386><SNP>, Asia’s largest oil refiner, has commenced expansion at its Beihai refinery in southwestern China’s Guangxi Zhuang Autonomous Region, in a bid to raise fuel supply in the area.Sinopec will install a RMB 4.15 billion polypropylene facility with an annual output of 200,000 tons for the upgrade project. Previously, the Beihai oil-processing plant had production capacity of 500,000 tons a year, or 10,000 barrels per day, sources said.The Beihai refinery is expected to produce 660,000 tons of gasoline, 800,000 tons of diesel and 324,000 tons of liquefied petroleum gas per year after completion. However, timetable for the construction is not available at present.The Chinese company will also build auxiliary facilities for the project, including a 3-million-ton crude commercial storage facility and a crude terminal at Weizhou island, as per industry sources.A-shares of Sinopec edged down 0.38% to close at RMB 7.85 on Wednesday, while its H-shares gained 3.01% to HK$5.14.Copyright © 2008 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina News上海个人贷款 草原旅游 过滤器 被リンク 金

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Chongqing RevivingPublished: 19 Aug 2009 18:31:25 PSTGROWING CITY: Chongqing has undergone dramatic changes in its appearance since it became a municipality directly under the Central Government on June 18, 1997 (ZHOU HENGYI) Thousands of cargo ships are busy loading and unloading goods in front of Chaotianmen Square Dock, where the Yangtze and Jialingjiang rivers meet. It is a scene of thriving business.In 2008, Chongqing Municipality achieved 14.3 percent GDP growth. The region yielded 12.6 percent growth from January to June of this year, and is set to see an estimated 14 percent GDP increase for the whole year.”Though we’re still faced with many difficulties, Chongqing’s economy has pulled itself through a mild winter and a warm spring, and has come into the height of summer,” said Yang Qingyu, Director of the Development and Reform Commission of Chongqing.Standing upChongqing, despite its insulated location in China and less dependence on export, was no safe haven against the global financial crisis and could not escape from being affected as a longtime heavily industrial city. Industrial giants Chongqing Iron and Steel Group and Chongqing Machinery and Electronics Group, both state-owned enterprises (SOE) with more than 10 billion yuan ($1.47 billion) of yearly sales revenue, have seen their operating revenues and profits plunge.Motorcycle exports nosedived to 93,000 per month in February, the lowest single month of sales since February 2006. ”The first quarter of this year has been the most difficult for Chongqing’s industrial and economic development than any other time in the past 10 years,” said Wu Bing, Director of Chongqing Economic and Information Technology Commission.Shortly after the Spring Festival, the Chinese lunar new year that fell on January 26, the speed of the fall slowed in the added value of Chongqing’s large-scale enterprises, and growth returned in the ensuing months. In January, the figure decreased by 3.7 percent compared with the same period last year, and increased by 6 percent in February, followed by 8.8 percent growth in March, 11.2 percent in April, 12.3 percent in May and 13.7 percent in June.On December 31, 2008, an executive meeting of the State Council was held to launch measures to spur coordinated urban and rural reform and development in Chongqing. Soon after, the General Office of the State Council issued a document including 13 important plans designed for Chongqing, such as creating a modern manufacturing base in the municipality, turning it into financial center of the upper reaches of the Yangtze River, a comprehensive transportation hub, an inland export commodities processing base and a pilot opening region.According to Huang Qifan, Executive Vice Mayor, the Central Government’s macroeconomic policies such as the 4 trillion yuan ($586 billion) stimulus package and the 10 major industrial adjustment and revitalization plans have worked exceptionally well, and each of the measures fuels Chongqing’s economy.So far, more than 7 billion yuan ($1.02 billion) of national investment has been put in Chongqing, which has been met by new investment worth 50 billion yuan ($7.35 billion) from other sectors. Eight out of the 10 major revitalized industries can be found in Chongqing.The economy’s rapid rebound is also attributed to precautions put in place in Chongqing before the crisis and a vigorous response once the trouble started.In March 2008, Chongqing issued seven measures to stimulate economic growth after a fact-finding trip to the coastal areas of Guangdong, Shanghai and Zhejiang. In September, officials introduced five policies to thwart economic decline and in November, they unveiled a three-year investment plan worth 1.5 trillion yuan ($220 billion). In December, the municipality also adopted 12 special measures to stimulate eco无抵押贷款 呼和浩特旅行社 分散机 太陽光発電 CFD

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Pent-up powerPublished: 13 Oct 2009 09:02:01 PSTThe street lamps on the breakwater of Qingdao Olympic Sailing Center are wind powered. Wind power charges the energy storage batteries that supply power when there is no wind. Photo: CFPBy Wang Xinyuan The rapid development of China’s solar and wind energy sectors has spurred the market potential for energy storage batteries to ensure a stable supply of power.Energy storage batteries are meant to store and discharge electricity generated by renewable energies such as wind and solar energy, both on-grid and off-grid.The sales of energy storage batteries were 600 to 700 million yuan ($87.8 to $102 million) in 2008. Currently about 95 percent of the batteries are used for off-grid energy storage and only 5 percent for on-grid applications.Even if the percentage doesn’t change, the sales are likely to grow to 15 to 20 billion yuan ($2.2 to $2.9 billion) by 2015, Chen Zhenye, senior consultant of energy and power systems at the business consulting firm Frost & Sullivan, told the Global Times.But Chen added that the trend is from off-grid to on-grid applications.He estimated that if 10 to 12 percent of the batteries were used on-grid, the market would be as much as 100 billion yuan ($14.6 billion) by 2015.Their alternative energy applications also give energy storage batteries huge potential, Zhao Yuling, Marketing Manager for North Asia at Exide Technologies, told the Global Times. US-based Exide, one of the world’s largest lead-acid energy storage batteries producers, has about 40 percent of its products for energy storage, Zhao said.Riding the wind With 2.57 gW newly installed capacity in the first seven months of this year, China’s accumulative wind power installed capacity is now at 14.74 gW. The total capacity is expected to further expand to 30 gW by the end of 2010, the deputy director of New Energy Department, State Energy Bureau, told Xinhua News Agency in June.But insufficient grid connections currently hamper the country’s wind power capabilities, Chen said."Grid infrastructure construction lags behind in the mid and western regions including wind bases in Inner Mongolia, Gansu, Qinghai, and Xinjiang," Chen said."In some places, about one third of the generated power cannot be transmitted. Consequently, one third of the generators are idled."Without energy storage batteries, even if the power is generated by wind, without a sufficient grid, the power would be wasted, said Chen.In addition, due to natural conditions, photovoltaic solar energy and wind power are interval and fluctuating energy sources respectively and thus unless there is a energy storage system, the grid’s stability is uncertain, Jiang Qian, chief analyst for new energy industry at Shenzhen Zhongzhe Investment Consulting Ltd, told the Global Times.Energy storage batteries are a major solution to the problem of storing surplus power and generating electricity back onto the grid when power is in short supply, said Jiang.Wind power so far accounts for less than 2 percent of China’s total power generation so the impact is not obvious. "However, if the wind and solar power account for about 10 percent of the total generated electricity, the interval energy transmission will affect the overall stability of the grid," said Chen at Frost & Sullivan.Wind power’s total installed capacity in China is currently estimated to be about 8.3 percent, and solar power’s proportion will also rise to about 1.6 percent by 2020, according to Jiang.China’s plan to develop a smart grid is another plus for the growth of energy storage batteries. By the end of this year, the government is expected to unveil new plans for boosting renewable energies such as solar and wind power, and小额贷款 金 ビジネスローン 引越し 見積もり 外国為替

China to r4i dsi spend $19 bln in second stimulus tranche
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China to spend $19 bln in second stimulus tranchePublished: 03 Feb 2009 18:34:40 PSTAuthor: Simon RabinovitchBEIJING, Feb 3 (Reuters) – China is set to spend 130 billion yuan ($19 billion) in the second tranche of its stimulus package to boost demand in the faltering economy, state media reported on Tuesday.Beijing announced 4 trillion yuan in stimulus spending late last year, allocating 100 billion yuan of that total in the fourth quarter.The second installment, like the first, is expected to focus on infrastructure investment, which China sees as the surest way to pump up its economy after growth slumped to a seven-year low of 9 percent last year.The 21st Century Business Herald, citing an unnamed source, gave the following breakdown of how the 130 billion yuan would be spent:– 28 billion yuan on affordable housing;– 31.5 billion yuan on public infrastructure, such as electricity, water and roads;– 17 billion yuan on health and education;– 11 billion yuan on environmental protection;– 15 billion yuan on economic restructuring (which often refers to upgrading technology and promoting consolidation in industrial sectors);– the remaining 27.5 billion yuan on unspecified major infrastructure projects.The National Development and Reform Commission, China’s top economic planner, will publish the spending details when it announces the second tranche, but confirmed that it would amount to 130 billion yuan, the official Xinhua news agency said.Beyond the declared stimulus spending, China has cranked open its fiscal taps.Central and local governments spent a combined 1.66 trillion yuan in December alone, up 30.8 percent on a year earlier and enough to tip the country into a slight deficit in 2008.Chinese banks, most of which are owned by the state, have also jumped into the fray and are lending freely in support of the government’s stimulus programme.New local-currency lending leapt 900 billion yuan in the first 20 days of January, building on a jump of 772 billion yuan in December, Premier Wen Jiabao told the Financial Times during a visit to London. ($1=6.844 Yuan) キャッシング 外国為替 Runescape Gold クレジット 現金化 深圳旅行社

China’s purses wholesale per capita GDP reaches $4K in 2010, but has wider income gap
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China’s per capita GDP reaches $4K in 2010, but has wider income gapPublished: 21 Dec 2009 05:02:01 PSTChina’s per capita GDP will reach $4,000, but the income gap is expected to increase by the end of 2010, Li Peilin, head of the Institute of Sociology at the Chinese Academy of Social Sciences (CASS), predicted Monday.At a public lecture on China’s social and economic problems which was held Monday to coincide with the release of "Blue Book of China’s Society: 2010". Li said that by the end of 2008, China’s per capita GDP has seen rapid growth during the past eight years, as last year’s per capita GDP was $3,000, a massive jump from $800 in 2000."China’s per capita GDP growth is faster than that during the 1978-2000 period, which enabled us to fulfill the plan of $3,000 per capita GDP growth by 2020 and in fact reaching $4,000 in 2010," said Li.China has spent more than 20 years to double its per capita GDP to $800 in 2000 from less than $400 in 1978. There were projections in 2000 that the country would reach $3,000 per person by 2020 to build "a moderately prosperous society in all respects".Li explained China’s rapid growth of per capita GDP is not only due to its fast economic growth, but because of the lower birth rate, and the appreciation of the yuan.However, as he pointed out in the lecture, the increasing income gap has become a trend in recent years, with the biggest gap between rural and urban areas.In 2009, the growth of Chinese farmers’ income is expected to reach 6 or 7 percent, 3 to 4 percent lower compared to urban households; however in 2008, the growth of incomes in rural areas was almost the same as urban households."Many farmers have become migrant workers and their incomes are affected by the global financial crisis, which is why the gap has increased, Li said.However, last year China’s Gini coefficient, a measure of inequality was 0.47. Anything more than 0.4 is considered "alarming". The coefficient in 1982 was 0.3 and 0.45 in 2002. Explore the World, Understand China!Please log on http://www.gloaltimes.cn融資 代办签证 Study Chinese カード 現金化 外汇保证金交易