Nation to double high-voltage power capacity
SEVERAL power equipment makers including Henan Pinggao Electric Co. Ltd., China XD Electric Co. Ltd. and Northeast Electric Development Co. Ltd. have won bids in a 4.3 billion yuan (US$649.1 million) power capacity expansion project, Shanghai Securities News reported Friday.
The expansion, launched by State Grid Corp. of China on Thursday, would last a year and was aimed at doubling capacity of a high-voltage power transmission lines to above 5 million kilowatts per year. The move was part of efforts to improve coal transport capacity to ease the power supply shortage in Central China in winter, the newspaper said.
Price gap triggers U.S. spree for Moutai
A BUYING frenzy for Guizhou Moutai white wine was spreading among overseas Chinese in the United States after the Chinese liquor producer raised the price of its product in the domestic market, China News reports.
The price for a 500ml bottle of the world-renowned Chinese liquor in the Chinese market has surged to 1,200 yuan (US$180). In contrast, a 1,000ml bottle of the same quality costs US$220-230 in Flushing, a Chinese-populated community in New York. The gap between the same product in Chinese and U.S. markets has lured overseas Chinese on a buying spree. Many of the consumers would bring their purchase back to China as gifts for the coming Spring Festival.
Shanghai surpasses Singapore as busiest port
SHANGHAI surpassed Singapore in container traffic last year, making China s wealthiest city the world s busiest port as the country churns out more export goods and boosts trade volumes.
Traffic in 2010 rose to 29.05 million, 20-foot equivalent units, or TEUs, the Shanghai Municipal Government said in a media release on its Web site. That s about 500,000 TEUs more than Singapore, the release said. Shanghai s cargo volume was about 650 million tons last year, it said.
China to build massive trade center in Thailand
CHINA planned to build a massive US$1.5 billion commercial complex in Thailand that would enable traders to send Made In China goods around the world without paying pricey tariffs often imposed in the West, Chinese domestic media and Thai officials said.
The China City Complex was expected to house more than 70,000 Chinese traders in a sprawling 500,000-square-meter facility to be built on the eastern outskirts of Bangkok, Vijit Yang, chairman of the ASEAN-China Economic and Trade Promotion Association said Friday.
