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  • Macao's containerized cargo by land grows by 28.3 pct in March

    Macao's containerized cargo by land grows by 28.3 pct in March

    By Xinhua| 2020-05-06 00:00:00

    The gross weight of containerized cargo by land to Macao in March grew by 28.3 percent year-on-year to 1,777 tonnes, the special administrative region's statistic service said.The latest report from the Statistics and Census Service (DSEC) indicated that the cargo passing through the Cotai Checkpoint expanded by 33.1 percent to 1,777 tonnes, as all the containerized cargo by land went into Macao through that checkpoint in March.On the other hand, the gross weight of port containerized cargo decreased by 37.8 percent to 7,830 tonnes, with cargo handled at the Kaho Harbour diving by 85.9 percent to 826 tonnes, and cargo shipped through the Inner Harbour rose by 3.9 percent to 7,004 tonnes.In the first quarter, the gross weight of containerized cargo by land increased by 13.1 percent year-on-year to 5,077 tonnes, while that of port containerized cargo dropped by 27.5 percent to 26,440 tonnes.The Macao International Airport handled 2,327 tonnes of air cargo in March, a drop of 35.0 percent year-on-year.In the first quarter, the air cargo reduced by 26.0 percent year-on-year to 6,401 tonnes.
  • China-Russia trade up 3.4 pct in Q1

    China-Russia trade up 3.4 pct in Q1

    By Xinhua| 2020-04-24 15:04:53

    China's trade with Russia expanded by 3.4 percent year on year in the first quarter (Q1) of this year, the Ministry of Commerce said Thursday.Trade volume between the two countries stood at 25.35 billion U.S. dollars in the period, Gao Feng, spokesperson with the ministry, told a press conference.China's imports from Russia increased by 17.3 percent from a year earlier to 16.2 billion dollars, the fastest growth among China's major trading partners.Meanwhile, China's exports to Russia reached 9.15 billion dollars in the first three months, down 14.6 percent year on year, according to Gao.The impact of the novel coronavirus epidemic will be short-lived and the prospect of bilateral economic and trade cooperation remains promising, Gao said.
  • China-Europe freight trains make 1,941 trips in Q1

    China-Europe freight trains make 1,941 trips in Q1

    By Xinhua| 2020-04-20 13:33:45

    The China-Europe freight trains made a total of 1,941 trips in the first quarter (Q1) of 2020, said an official with the China State Railway Group Co., Ltd.The figure was increased by 15 percent from the same period last year, Zhao Jun, an official with the company, told a press conference held in Beijing Saturday.In Q1, the China-Europe freight trains transported 174,000 TEUs (20-foot equivalent units) of freight, up 18 percent year on year.In March alone, a total of 809 trips were made by the trains, transporting 73,000 TEUs of freight, expanding by 30 percent and 36 percent, respectively, Zhao said.On April 14, a China-Europe freight train from Wuhan, the hardest-hit city by COVID-19 in China, arrived in the western German city of Duisburg.By far, all Chinese cities operating the trains have resumed outbound transport, according to Zhao.
  • China's Sichuan posts 10.7 pct increase in foreign trade in Q1

    China's Sichuan posts 10.7 pct increase in foreign trade in Q1

    By Xinhua| 2020-04-17 11:03:38

    The foreign trade volume of southwest China's Sichuan Province rose 10.7 percent to 159.04 billion yuan (about 22.49 billion U.S. dollars) in the first quarter of the year, according to customs data released Thursday.In the first quarter, the province did exports totalling 80.12 billion yuan, up 1.2 percent year on year and its imports grew 22.3 percent to 78.92 billion yuan, according to the Chengdu customs.Foreign-funded enterprises in the province reported a 17.9 percent year-on-year growth in foreign trade in the first three months of the year.Mechanical and electrical products have been the dominant products for export in the first quarter this year, accounting for 85.3 percent of the province's total export. In terms of imports, agricultural products and food saw the fastest growth.Sichuan has seen a major rise in its foreign trade with central and eastern European countries due to the more frequent China-Europe rail service since the COVID-19 outbreak. The province's trade with countries along the Belt and Road also rose 37.7 percent year on year.China has rolled out a string of policies to help foreign trade firms resume operation amid further containment of COVID-19 at home.The firms have been advancing work and production resumption in an orderly manner, with more than 76 percent of key firms in the sector having recovered over 70 percent of their production capacity as of April 9, according to the Ministry of Commerce.

Industry Activities

Raw Materials

By CFM ,2018-03-30 09:19:17

On Mar. 29, 2018 Spring Reception of Fastener Industry Association of Guangdong Province was held at Foshang Luhu Interntanional Convention Center. A total of 500 people in China attended the Reception including experts, suppliers, distributors, materials suppliers, purchasing agents, fastener making machines suppliers, representatives of associations and media companies in China fastener industry.On the afternoon, the guests brought their product samples and brochures to displayed their companies before the official meeting. The official meeting began at 5:00 p.m., with the speech of Mr. Chen Jutian, president of Fastener Industry Association of Guangdong Province. He expressed his ideas in the development of fastener industry. He said, the development and popularity of the Internet and E-commerce brought new opportunities to fastener industry. However, fastener industry is somewhat different from other industries. He hoped all fastener companies could keep developing new products and technologies to upgrade their companies.Mr. Chen JutianFollowing the speech of Mr. Chen, Yao Haiguang, executive vice-president of CHINA GENERAL MACHINE COMPONENTS INDUSTRY ASSOCIATION (CMCA) and Mr. Yu Ruyong from CMCA-China Fastener Industry Association addressed the conference.Mr. Yao HaiguangMr. Yu RuyongDuring the conference, the association awarded prizes to new members. Mr. Yang Junfeng, chairman of presented prizes to the members. With the theme of "Discussing about new future of fastener industry", the conference aimed at gather industrial workers to discuss about the topic together to make a better future for fastener industry in Guangdong.

Company News

By Xinhuanet ,2020-06-02 17:15:40

German carmaker Volkswagen has announced plans to invest 2.1 billion euros (about 2.3 billion U.S. dollars) in China to develop its electric vehicle business in the country.With an investment of 1 billion euros, Volkswagen will acquire 50 percent of JAG, the parent company of Anhui Jianghuai Automobile Group Corp., Ltd. (JAC Motors), and increase its stake in JAC Volkswagen to 75 percent, according to the agreement signed in Beijing on May 29.In another transaction, Volkswagen will pay 1.1 billion euros to acquire a 26.47-percent share of Gotion High-tech Co., Ltd., a Hefei-based manufacturer of electric batteries, becoming the latter's largest shareholder.Volkswagen is the first foreign automobile company to invest directly in a Chinese battery manufacturing enterprise. The investment is expected to be completed by the end of 2020, according to Gotion.The two sides will carry out strategic cooperation in the field of electric vehicle batteries. Gotion will become a certified supplier of Volkswagen.The cooperation between Volkswagen and Gotion has created a new model for the development of China's new energy automobile industry, and will further enhance the competitiveness of Gotion in the global battery industry, said Li Zhen, president of Gotion.Herbert Diess, CEO of Volkswagen AG, said the company, together with strong and reliable partners, is strengthening its electrification strategy in China. Its electric car business is growing rapidly and offers a great deal of potential for JAC Volkswagen.By opening up the market, China is giving Volkswagen new business opportunities, said Stephan Wollenstein, CEO of Volkswagen Group China.Wollenstein added that in addition to investments of more than 2 billion euros in JAC and Gotion, Volkswagen also has plans to invest 4 billion euros in China this year.According to its development plan, Volkswagen Group China expects to deliver around 1.5 million new energy vehicles (NEVs) to Chinese customers in 2025.The two deals came as China highlighted the importance of new infrastructure construction in this year's government report, saying China will expand 5G applications and build more charging facilities to promote the wider use of NEVs.To support the development of the NEV industry in the wake of the COVID-19 epidemic, China has decided to extend subsidies and tax exemptions for NEV purchases by another two years to restore NEV production and sales, Minister of Industry and Information Technology Miao Wei said on the sidelines of the annual national legislative session."NEV production capacity in April had basically reached the level of the same period last year," Miao said, adding the ministry is confident in the future development of the industry.The ministry will also step up the construction of charging facilities and enhance their interconnectivity, Miao said.According to statistics from the Ministry of Public Security, by the end of 2019, the number of NEVs in China had reached 3.81 million. This number had grown by more than 1 million for two consecutive years, showing a rapid growth trend.The number of charging posts across the country rose to around 1.29 million by the end of April, according to data from the Electric Vehicle Charging Infrastructure Promotion Alliance.This represents a year-on-year growth of 35 percent and was 20,000 higher from the end of March, the alliance said.

By Xinhuanet ,2020-05-26 14:47:09

A recent survey conducted by the German Mechanical Engineering Industry Association (VDMA) among its members showed that China is "sending positive signals," the association said on Monday."As many as 62 percent of the local members surveyed qualify their business situation as satisfactory, the remaining 13 percent even assess the situation as good," said VDMA chief economist Ralph Wiechers in a statement.The association said that mechanical engineering companies whose customers primarily serve the Chinese market are likely to do better than their export-oriented peers in the foreseeable future."The Chinese economy is picking up again, even though the situation there has not yet completely eased," Wiechers said.The VDMA has been conducting regular surveys among its members since the pandemic broke out. The most recent one, in which 724 companies took part in early May, showed that nine out of ten saw themselves as being affected by the economic consequences of the pandemic.Meanwhile, the association noted a slight easing of tension on the supply side. Many mechanical engineering companies reported that the difficulties with supplies from China in particular are easing, according to a separate statement from the VDMA on the survey results.Oliver Wack, an expert at the association's department of foreign trade, said the easing is not only related to the restart of production in China, but also to the improvement of the logistics chains from and to China."It is important that the customer branches in China resume work. This will help to continue with projects, completing installations and providing service," Wack told Xinhua in a written statement. "However, travel restrictions remain a problem."

Exibition & Association News

By China Daily ,2020-05-25 17:03:43

China is capable of reaching its goal of building a moderately prosperous society in all respects by next year with support from macroeconomic policies, despite troubles caused by the COVID-19 pandemic, political advisers said.The country has sufficient policy tools to tackle economic challenges amid the pandemic, and the fiscal and financial system is generally stable, Yang Weimin, a member of the 13th National Committee of the Chinese People's Political Consultative Conference, said in a speech on Sunday.Both fiscal and monetary policies have "sufficient ammunition" to support economic growth, said Yang, former deputy head of the Office of the Central Leading Group on Financial and Economic Affairs.Liu Wei, president of Renmin University of China and a member of the central bank's monetary policy committee, said China's potential GDP growth rate is estimated to be 3 percent this year.Also a member of the 13th National Committee of the CPPCC, Liu said strong expansionary policies to stimulate aggregate demand and measures to promote supply-side structural reforms were likely to drive up GDP growth to around 5 percent. But China "will pay a high price" for employing such policies and measures, he warned at a CPPCC meeting on Saturday.Instead of setting a specific GDP growth target, this year's Government Work Report made safeguarding employment and people's livelihoods priorities, considering the impact of the pandemic.The government is aiming for a surveyed urban unemployment rate of around 6 percent this year and is seeking to create more than 9 million jobs in urban areas. These targets may require a GDP growth rate higher than 4 percent, Liu said.China has launched many measures-such as raising the debt-to-GDP ratio, extending government debt, increasing liquidity and lowering financing costs-to offset the impact of the pandemic.Political advisers suggested that macroeconomic policies, including fiscal and monetary measures, be more targeted."As long as these policies are in place, China will take the lead in achieving economic stability and recovery," Yang said. "The epidemic has brought many changes, but it cannot change the fundamentals and momentum of China's long-term economic growth."Economists believe China's sustainable economic growth will mainly rely on huge domestic demand, but the country will not abandon the international market. The urbanization process will continue to create a new driving force for the economy."Markets are the most scarce resources for economic growth in modern society. Any rational investor will not give up on the large and growing Chinese market," said Yang, who also stressed the importance of deepening reform and opening-up.In the face of increasing downward pressure on the economy this year, China did not adopt the "flood irrigation" approach to monetary easing. Policymakers concentrated on ensuring stability of employment, the financial sector, foreign trade, domestic and foreign investment and expectations."The fact that there is no growth target this year does not mean China's leaders have stopped caring about growth," said Louis Kuijs, head of Asia Economics at Oxford Economics, a British think tank.The Government Work Report also committed to continuing reform and opening-up and cited a three-year action plan on State-owned enterprise reform."While the details have yet to be seen, based on earlier information, some of the components of the plan will be along the lines of expanding mixed-ownership reform and cutting overcapacity in sectors including coal and electricity, steel and nonferrous metals," Kuijs said.

Fastener News

By Xinhua ,2020-05-27 16:54:58

French President Emmanuel Macron on Tuesday unveiled an eight-billion-euro (8.78 billion U.S. dollars) rescue plan to help the recovery of the domestic auto industry hit hard by the anti-coronavirus lockdown. The plan focuses on the production of environmentally friendly vehicles."The state will provide more than eight billion euros in aid to the sector," Macron said. "In return, the car manufacturers have committed to relocate value-added production in France and to consolidate and maintain all industrial production on our sites."The president, who met with industry bosses early on Tuesday, said the "historic plan," which aims to "face a historic situation," was based on a support package and a scrappage scheme to shift towards less polluting vehicles. This massive investment aims to bolster research, encourage innovation and support the domestic production of high-tech electric and hybrid vehicles."We need to defend our industry and make France Europe's top producer of clean vehicles by increasing output to more than one million electric and hybrid cars per year over the next five years," said Macron."Bankruptcies should be avoided at all costs. We have to negotiate plans to adjust the activity, sometimes to reduce it, and accept short-time working," he said following a visit to a Valeo car parts factory in northern France.In order to boost demand, the government would increase the state bonus for consumers buying electric cars to 7,000 euros from 6,000 euros. Furthermore, a scrappage plan, which will be implemented from June 1, will offer a 5,000-euro incentive to motorists to encourage them to replace their vehicles with hybrid or electric ones.To further promote the sector's added value, the president also unveiled a 600-million-euro investment fund "to support innovation, research and development in the French automotive industry in line with our major technological axes for the vehicle of the future."In this context, the president announced that Renault would join PSA and oil giant Total in a venture manufacturing batteries for electric and hybrid cars."It is a defense plan, a sovereignty plan for the automotive industry, which aims to relocate activity. It is indeed a plan for the future of the 21st century automobile," the president said.In mid-March, France imposed strict rules to prevent the spread of COVID-19, and the tough restrictions on people's movement have negatively impacted local demand.Some 400,000 vehicles have remained unsold, while 250,000 workers in the sector were placed on partial unemployment scheme, Macron noted.Sales of French vehicle brands plunged by 84.2 percent in April, according to figures released by the French Automobile Manufacturers Committee (CCFA) earlier this month.PSA, the country's leading car manufacturer, saw an 84.4 percent drop in its sales to 10,098 units, while Renault, the country's second largest carmaker, sold 7,148 units, sharply down from the 44,348 vehicles sold in April 2019.

By Optimas ,2018-07-06 00:00:00

Optimas OE Solutions Holdings, Inc. LLC announced in June the acquisition of the US-based Circle Bolt & Nut Co., Inc. (CBN) located in Kingston, PA. “We are pleased to have Circle Bolt & Nut join our team. We are convinced that this is the right investment for Optimas to expand beyond our current base of business,” stated Anesa Chaibi, Chief Executive Officer. The acquisition supports the Optimas growth strategy into product adjacencies and enhanced MRO capabilities.Jim Castellino, CBN President & CEO, added, “I’m very excited for our company to become a part of the Optimas family. Together we will be able to provide exceptional value to our customers.” As a premier supplier of a wide variety of parts and components, CBN services Original Equipment Manufacturers and Maintenance Repair Operating needs of industrial companies by providing Vendor Managed Programs that utilize state of the art technology. “Circle Nut & Bolt enables Optimas to accelerate our expansion into small and medium sized accounts,” said Christian Wiltrout, President, Americas.The transaction also diversifies the portfolio of Optimas customers across multiple industries. “The addition of Circle Bolt & Nut to our Optimas family is another positive step forward in accelerating the execution of our growth strategy and company transformation,” stated Anesa Chaibi.About Optimas OE Solutions Holdings, LLC (“OPTIMAS”)Optimas is a leading, global provider of integrated supply chain solutions and engineering support focused on delivering highly engineered custom fasteners and other “C” Class components, such as fittings, clamps, bearings, and rivets, to our global customer base of large, industrial companies as well as small and medium-sized companies. Optimas specializes in the delivery of highly engineered fastener hardware and components across multiple industries and continents.About Circle Bolt & Nut Co., Inc.Circle Bolt & Nut Co., Inc. is an international supplier of fasteners, specialty hardware, and value added services with worldwide sourcing and distribution capabilities. Since 1979, CBN has grown from one facility in Northeast Pennsylvania to national coverage through seven full service branches and other satellite warehouse and service locations.Source: Optimas OE Solutions Holdings, Inc. LLC


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