News

China economy shows solid foundation

Source: Xinhua         Citation: Xinhua      Date: January 3, 2017

BEIJING - China`s GDP growth is expected to fall solidly in the target range of 6.5 percent to 7 percent as both official and private data point to a stabilizing economy.

China`s manufacturing sector continues to expand, with the purchasing managers`index (PMI) hitting a 47-month high in December, a private survey showed Tuesday.

The Caixin factory PMI, based on surveys of small and medium enterprises, came in at 51.9 in December, up from 50.9 in November, according to the survey by financial information service provider Markit, sponsored by Caixin Media.

It was the biggest index rise since January 2013, with production growing at the fastest pace in nearly six years due to higher numbers in new work.

Official manufacturing PMI, which surveys larger companies, stood at 51.4 in December, lower than 51.7 in November but above the boom-bust line of 50 for the fifth straight month, the National Bureau of Statistics (NBS) said Sunday.

"The Chinese manufacturing economy continued to improve in December, with the majority of sub-indices looking optimistic," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a large investment research firm.

Alongside booming factory output, profits of China`s major industrial firms increased 14.5 percent year-on-year in November, up from 9.8 percent in October, official data showed last week.

China`s non-manufacturing industries also showed strong expansion in December, second only to November this year, the NBS data showed.

GDP growth in the fourth quarter of 2016 is expected to stay flat at 6.7 percent year-on-year, with stronger fixed asset investment and retail sales in December, according to China International Capital Corporation.

China`s target for GDP growth was 6.5 percent to 7 percent in 2016, and it saw stable 6.7 percent growth in the first three quarters.

"However, it remains to be seen if stabilization of the economy can be consolidated, due to uncertainty if restocking and consumer price rises are sustainable,", Zhong said.

Inflationary pressures remained sharp in December, with the Caixin factory PMI showing input prices picking up to their highest since early 2011, amid reports of higher raw material costs.

The basic plan of "seeking progress while maintaining stability" will be an important principle in state governance and methodology for economic work, with implementation of critical importance for 2017, according to the Central Economic Work Conference.

China International Capital Corporation expect macro data in December to show continued broadening of reflation in mid-to-downstream industrial sectors, which may lead to further recovery in manufacturing investment.

Meanwhile, the corporation has observed early signs of an upturn in credit demand from the private and manufacturing sectors for the first time since 2011.

"We remain hopeful that nominal growth and profitability will continue on the mend in 2017," the corporation said.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Romania seeks energy involvement in Belt and Road Initiative

Source: chinadaily.com.cn         Citation: Xinhua     Date: December 15, 2016

BUCHAREST - Romanian experts and advisors saw Romania`s potential in developing long-term energy cooperation with China under the Belt and Road Initiative.

At a "Fuel and the Silk Road" conference held Wednesday in Bucharest, they agreed that China will be more and more an outstanding economic partner for many countries, and that Romania, a major geopolitical actor at the Black Sea and the eastern frontier of the Euro-Atlantic structure, should definitely strengthen its economic ties with China and take part in the Silk Road Initiative.

Vasile Iuga, a senior advisor with PwC Romania, said China`s Belt and Road Initiative would involve 70 percent of the world`s energy resources to ensure global energy security through energy-saving programs and the diversification of energy resources.

Petrisor Peiu, director of the Black Sea University Foundation think tank, which organized the conference, reminded that Romania`s oil refineries, which are very competitive and have huge processing capacity, should be a valuable asset for Silk Road projects.

Radu Dudau from the Energy Policy Group said that many Chinese delegations and private investors came to the Romanian Energy Ministry in 2016, and that the two countries are discussing the possibility of building two new nuclear reactors in Cernavoda power plant.

It suggests that China can be a reliable long-term business partner for Romania, Dudau said.

Liviu Muresan, president of the EURISC think-tank, calls the Belt and Road Initiative "a project of the century."

"It is of huge interests," said Muresan, "Romania possesses some assets and therefore has the potential to play a role in the energy sector."

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Chinese fund invests 4 bln USD in Africa

Source: Xinhua         Citation: Xinhua     Date: December 14, 2016

GUANGZHOU, Dec. 14 (Xinhua) -- The China Africa Development Fund (CAD Fund), an equity investment fund managed by China Development Bank, had invested 4 billion U.S. dollars in Africa as of the end of November, authorities said Wednesday.

Since its establishment in 2007, the fund has invested in 88 projects in 37 African countries. The projects cover areas including infrastructure, processing and manufacturing, and energy and mineral resources, said Wang Yong, vice president of the fund, at a business partnership event attended by Chinese and African companies in Guangzhou.

In addition to investment directly from the CAD Fund, the projects have attracted a further 17 billion U.S. dollars in the form of enterprise investment and bank loans to Africa, according to Wang.

Every U.S. dollar the CAD Fund invests attracts some five U.S. dollars of investment from Chinese companies and banks, he said.

With an initial seed fund of 1 billion U.S. dollars, the CAD Fund was set up to diversify financial vehicles to facilitate Chinese investment in Africa.

The fund mainly focuses on long-term investment projects such as industrial development, agriculture, infrastructure, and resource development.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China to boost biomass energy development in 2016-2020  

Source: Xinhua         Citation: Xinhua      Date: December 5, 2016

BEIJING, Dec. 5 (Xinhua) -- China will boost the development of biomass energy in the next five years to reduce coal consumption and improve air quality, the National Energy Administration said Monday.

China will achieve biomass energy equivalent of 58 million of tonnes by 2020, according to the administration`s 2016-2020 biomass energy development plan.

The use of biomass energy will be more commercialized and industrialized by 2020, the plan said.

Biomass is defined as biological material--generally farm or forestry byproducts--that can be used directly to produce heat via combustion or indirectly after being converted to various biofuels.

Although China produces the biomass energy equivalent of about 460 million tonnes of coal annually, mostly for biogas, biomass power generation and biomass heating,the vast majority is not harnessed as the proper technology is not fully in place.

China is promoting non-fossil energy, including biomass energy, to power its economy in a cleaner, more sustainable fashion. The government aims to lift the proportion of non-fossil energy in the energy mix to 20 percent by 2030 from the current level of around 11 percent.

China`s energy mix is currently dominated by coal.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China, Brazil should work together on steel overcapacity: MOC

Source: www.chinamining.org         Citation: Xinhua      Date: November 23, 2016

China and Brazil should work together to address steel sector overcapacity, as protectionism only compounds the situation, China`s Ministry of Commerce (MOC) said Tuesday, after Brazil launched probes into Chinese steel products.  

"The Chinese government has always held that trade remedies should be used in a cautious and restrained manner, and encouraged its businesses to solve trade frictions through trade, investment and technological cooperation with their foreign counterparts," said Wang Hejun, head of the MOC trade remedy and investigation bureau.  

Protectionism will do no good in overcoming difficulties in the global economy and steel sector. On the contrary, it will hinder normal trade, Wang said.  

The two emerging economies are closely-related in the steel sector as Brazil boasts vast iron ore deposits, and China is the largest steel producer in the world.  

Wang`s remarks came after Brazil announced Monday its first anti-subsidy investigations into hot rolled steel plate from China. Chinese steel products saw 14 anti-dumping probes from the Brazilian government in the past five years, with most cases ending in restrictive measures.  

But Chinese steel accounts for less than two percent of the Brazilian market, according to Wang.  

Plagued by excess production, the global steel sector has seen more trade disputes in recent years, with Chinese companies suffering the most.  

China is calling for unity in tackling severe overcapacity, and has achieved remarkable progress in downsizing its domestic steel industry.  

The country has reduced more than 90 million tons of excess capacity during the past five years, and the government plans to slash more by 2020.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Peru and China to cooperate in tech, mining, energy

Source: www.chinamining.org         Citation: foxnews.com       Date: November 21, 2016

Peru`s Pedro Pablo Kuczynski and Chinese President Xi Jinping presided here Monday over the signing of bilateral pacts in fields including technology, mining and energy.

The signings followed talks at the Peruvian presidential palace.

Xi traveled to Lima for the summit of the Asia-Pacific Economic Cooperation forum, which concluded Sunday.

China is donating to Peru the Chinese-supplied vehicles and computers that were used for the APEC event.

The two nations have agreed to work together on environmental issues and energy, while a number of Peruvian and Chinese financial institutions have entered into collaborative arrangements.

Neither president offered any statements after the signing ceremony.

The Chinese leader planned to meet later on Monday with Peru`s Congress.

Kuczynski, who took office July 28, visited China in September on his first foreign journey as president.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

EU tariffs on Chinese steel called unfair

Source: www.chinamining.org         Citation: China Daily    Date: November 21, 2016

The latest anti-dumping tariffs levied on Chinese steel products by the European Union could lead to a sharp fall in exports of China`s seamless steel pipes and tubes to the region, according to a leading industry expert.  

Wang Guoqing, director of the Lange Steel Information Center, says the duties imposed on iron and steel seamless pipes and tubes, ranging from 43.5 to 81.1 percent, are aggressive and may wipe out much of manufacturers` profit margin and lead to a sharp decline in exports to the EU.  

The EU imposed provisional anti-dumping tariffs for six months on Chinese steel and iron products on Nov 14 after manufacturers in the bloc lodged numerous complaints about Chinese competitors allegedly exporting at unfairly low prices.  

The European Commission, the EU`s executive body, says it will decide whether to support the anti-dumping measures and extend the restrictions for five years.  

"Most seamless tube manufacturers in China are small-scale. They feel powerless facing anti-dumping sentiment. But from earlier experience, companies that file appeals sometimes get much lower anti-dumping tariffs. Therefore, the Chinese government should provide consulting for these companies to help them with the legal process," says Wang.  

China`s Commerce Ministry says the EU`s decision, based on the fact that China`s steel export prices are lower than those of other exporters to the region, was unfair.  

"China offers competitive prices because it has large-scale steel production. The fact that its prices are lower than those of other exporters does not mean that it is dumping the products at prices lower than domestic costs," says Wang.  

A report by 315.com.cn, a Chinese bulk commodity information and trading website, said global output of seamless steel pipes and tubes dropped 14.6 percent year-on-year to 41.44 million metric tons in 2015.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China association protests markup by overseas iron ore producer

Source: www.chinamining.org         Citation: Xinhua     Date: November 21, 2016

The China Iron and Steel Association (CISA) has protested at a markup by a leading iron ore producer that targets Chinese buyers.

"It is obviously unfair," a CISA official said on Friday, who did not name the company but hinted it is among the world`s top-three iron ore miners.

When discussing new agreements with Chinese steel firms, the company decided to impose a premium in addition to prices published by Platts, a benchmark price assessment in physical energy markets, the official said.

The official said the practice damaged the current pricing mechanism and disturbed trade order, and called on the two sides to "sit down and talk" to solve the problem together.

China is the world`s biggest consumer of iron ore, with the imports up 8.9 percent year on year in the first ten months.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us. For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.