China lowers minimum capital requirement for fixed-asset investment

BEIJING, Sept. 1 (Xinhua) — China’s State Council, the cabinet, decided on Tuesday to lower the minimum capital requirement for fixed-asset projects in a bid to boost investment in public goods and services.

The minimum capital ratio of key projects of ports, costal and river transportation, and airports has been lowered to 25 percent from 30 percent. The minimum capital ratio of railroad, highway and urban rail projects decreased to 20 percent from 25 percent.

In addition, the government has changed the minimum capital requirement for corn further processing projects from 30 percent to 20 percent.

However, the State Council said industries with excessive capacity would still face high capital ratios between 30 percent and 40 percent. (Edited by Huang Xiaolan,


China to set up RMB60 bln SME development funds

BEIJING, Sept. 1 (Xinhua) — The State Council, China’s cabinet, pledged to establish national small- and medium-sized enterprises (SME) development funds, said a statement released after a State Council executive meeting presided over by Premier Li Keqiang on Tuesday.

imagesThe move aims to stimulate the impetus of entrepreneurship and innovation, alleviate the financing difficulties faced by SMEs and enlarge employment.

According to the statement, the central government will contribute 15 billion yuan and establish a national SME development funds boasting a total scale of 60 billion yuan under the participation of private enterprises, state-owned enterprises, financial institutions and local governments.

The funds, which adopt limited partnership, will be operated under marketization mode. (Edited by Zhang Yuan,



China’s Alibaba seeking to boost Latin America presence


BUENOS AIRES, Sept. 1 (Xinhua) — China’s e-commerce giant, Alibaba, is seeking to increase its presence in Latin America, according to Michael Lee, the firm’s head of international marketing and business development, on Tuesday.

This expansion will primarily be centered on Argentina and Brazil, where the company has recently been growing, said the executive.

Lee made this declaration in Buenos Aires during a conference organized by the Latin American Institute for Electronic Commerce and Argentina Chamber for Electronic Commerce.

“South and Central America account for six percent of our total revenue, but this has grown a lot, especially in Brazil and Argentina,” said Lee.

To capitalize on this growth, Alibaba recently launched versions of its site in Spanish and Portuguese to better cater to customers in the region.

Furthermore, Ali Express, one of Alibaba’s online platforms, has recently shown considerable staying power in Brazil, Chile and Mexico. In July, it actually led the ranking of international e-commerce sites in terms of visits from Brazil.

This platform, which has a history of seeking to adapt its offering to the local market, has become an important e-commerce bridge between China and Latin America, Lee added.

“Alibaba is a global company headquartered in China. We carry over 100,000 suppliers and manufacturers and see transactions in the billions of U.S. dollars a day. We are building up trust..e-commerce creates unlimited opportunities for all,” he noted.

Alibaba now has 40 million registered users in over 190 countries, making it one of the uncontested leaders of international e-commerce. In September 2014, was listed on the New York Stock Exchange, becoming the largest global IPO of all time. Enditem


China looks forward to adoption of post-2015 development agenda at UN summit

UNITED NATIONS, Sept. 1 (Greenpost) — A Chinese envoy to the United Nations on Tuesday said China looks forward to the successful adoption of the post-2015 development agenda at the UN summit, stressing it will “guide International cooperation for development.”

The remarks were made by Wang Min, China’s deputy permanent representative to the UN, at a meeting of the 69th session of the UN General Assembly.

“China welcomes the adoption by the General Assembly of the resolution on the draft Outcome Document of the United Nations summit for the adoption of the post-2015 development agenda to transmit the post-2015 development agenda agreed by consensus to the summit for its consideration and adoption,” said Wang. “As a development agenda that will guide international cooperation for development in the next 15 years, the post-2015 development agenda is of profound historical significance.”

The document also reaffirms the purposes and principles of the charter of the United Nations and the principle of the common but differentiated responsibilities among other basic principles, while placing continued focus on poverty eradication, he said.

The post-2015 development agenda will not only give renewed impetus to international cooperation for development, but also lay a solid foundation for a successful UN summit of the agenda’s adoption, he said. “China looks forward to the successful adoption of the post-2015 development agenda at the UN summit.”

Moreover, he assured that “China is ready to join others in untiring efforts to implement the post-2015 development agenda and revitalize international cooperation for development.”

In August, negotiators from 193 UN member states agreed on a draft blueprint for sustainable development that will last through 2030. The document outlines 17 ambitious Sustainable Development Goals (SDGs) ranging from issues of poverty, gender equality and economic development to climate change and ocean resource protection. Enditem

Source Xinhua

Editor  Xuefei Chen Axelsson

Regulators discuss draft integrated plans for Hainan’s development

BEIJING, Sept.2 (Xinhua) — Representatives from China’s top government bodies met on Saturday in Haikou, the capital city of southern China’s Hainan province, to discuss a draft plan on integrated local development.

IMG_6561 IMG_6597 The plan is part of the trial program that aims to coordinate the planning system on a provincial level in order to eliminate incompatibilities between plans issued by different government departments.

After the meeting, Hainan local government will make some revisions and a consultation to seek views before publishing the final plan.

Such efforts by Hainan and relevant experiences will be introduced to other parts of China if proven successful.

In an attempt to improve policy coordination, China in June selected Hainan to pilot a trial program encouraging rational use of land and better environmental protection. (Edited by Ding Lei,



China to advance building graded diagnosis and treatment system

BEIJING, Sept. 2 (Greenpost) — China will advance building a graded diagnose and treatment system to deepen healthcare reform, according to an executive meeting of the State Council presided over by Premier Li Keqiang.

China will expand medical service capabilities of not only major medical institutions but also county-level public hospitals.

Also, the country will integrate medical resources such as examination, testing and disinfection supply while advancing cross-recognition of examination and testing results as well as patient transfer among hospitals of different levels, according to the meeting.

The country also encourages the elderly, children, pregnant and lying-in women as well as patients with chronic diseases to sign primary family doctors or rural doctors voluntarily to receive basic medical treatments. (Edited by Niu Huizhe,

Source Xinhua

Editor Xuefei Chen Axelsson

CNOOC to invest RMB65.6 bln in maritime engineering equipment in 2016-2020

BEIJING, Sept. 2 (Greenpost) – China National Offshore Oil Corporation (CNOOC), the parent company of China’s largest offshore oil and gas producer CNOOC Ltd. (CEO.NYSE; 00883.HK), would add 114 maritime engineering equipment in 2016-2020 with investment of 65.6 billion yuan, said Zeng Hengyi, deputy general engineer with CNOOC on Tuesday.

Speaking at a maritime equipment exhibition in Qingdao, Zeng said 42.5 billion yuan would be invested in deepwater engineering equipment in the period, accounting for 65 percent of total.

Investment in deepwater engineering equipment is likely to account for over 70 percent of CNOOC’s total investment in maritime engineering investment by 2030, according to Zeng.

China needs to develop semi submersible drilling platform of the seven and half generation and deploy four special deepwater projects in the South China Sea, said Zeng.

The process of offshore exploration and development would not be changed though fall of oil prices in the short term would weigh on maritime engineering industry, said Liu Heyin, an official with shipbuilding and maritime engineering operations of Siemens. (Edited by Liu Yanan,

Source Xinhua

Editor Xuefei Chen Axelsson

China pushes forward pilot projects of developing grain-based feeds

BEIJING, Sept. 2 (Greenpost) — China’s Ministry of Agriculture (MOA) Tuesday said China would push ahead the pilot projects of converting grain to feeds to improve integration of farming and animal husbandry and overall efficiency during a meeting held in Taiyuan, Shanxi.

China has launched the pilot in ten provinces including Shanxi, Heilongjiang and Gansu and relative provincial governments have drafted local implement measures.

As grain-based feeds are mainly converted from corn, China would attach importance to adjust corn planting structure and put special efforts in promoting planting silage corn, which could be turned to feeds for cattle and sheep

In the recent years, planning area and output of corn have grown fast due to rising price and other factor. and corn surpassed rise to become China’s top grain crop in 2012. (Edited by Yang Qi,

Source Xinhua

Editor  Xuefei Chen Axelsson

China to reduce power cuts by updating electricity distribution network

   BEIJING, Sept. 2 (Greenpost) — China aims to substantially reduce power cuts in five years by updating its electricity distribution network, according to the National Development and Reform Commission (NDRC), the country’s top economic planner.

The NDRC released a document on Wednesday on its website to guide the construction and update of the power distribution network.

According to government plans, power cuts in cities will last less than 1 hour annually by 2020. Suspension of electricity supply in towns and villages should be capped under 10 and 24 hours per year respectively by 2020.

The document is the latest of a series of official guidance on construction and update of China’s power distribution network.

The National Energy Administration (NEA) announced on Monday that China will invest at least 2 trillion yuan in the country’s power distribution network from 2015 to 2020, with the minimum investment of 300 billion yuan in 2015.

By 2020, China’s high-voltage power distribution network will be 1.01 million kilometers long and its electric transformation capacity will reach 2.1 billion kilovolt-amps (KVA).

In addition, China plans to increase the number of electric charging and transformation stations and posts to 12,000 and 4.8 million respectively by 2020, which will be able to meet the demand of 5 million electric vehicles. (Edited by Huang Xiaolan,

Source Xinhua

Editor Xuefei Chen Axelsson

China takes multiple measures to inject liquidity

   BEIJING, Sept. 2 (Greenpost) — The People’s Bank of China, China’s central bank, conducts 150 billion yuan worth of 7-day reverse repos at a yield of 2.35 percent in Tuesday’s open market operation.

Traders note that the move shows the central bank’s intention to inject short-term liquidity into the financial system.

Since the end of June, the central bank continued to pump in liquidity through its routine open market operations and step up sales of reverse repos in August to boost cash supply in the financial system.

On last Friday, the central bank injected 140 billion yuan of liquidity into the market via a 6-day short-term liquidity operation. The amount was the same as a similar contract sold on August 26. The central bank also injected 60 billion yuan into the market via a 7-day SLO on August 28.

China’s central bank lowered key interest rates and cut the reserve requirement ratio on August 26, marking the fourth RRR cut in nearly seven months and the fifth round of interest cut in no more than nine months.

Traders noted that the central bank was expected to employ multiple monetary policy tools such as reverse repo sales, interest rate and RRR cuts to keep liquidity environment stable in the future. (Edited by Yang Yifan,