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News from China
China's industrial profits up 11.8% in first 11 months
27th December 2018

 Profits of China's major industrial firms grew 11.8 percent year on year in the first 11 months of 2018, down from the 13.6 percent expansion for the January-October period, the National Bureau of Statistics said on Thursday.

 
Profits in 34 of the 41 sectors surveyed rose compared with one year earlier, unchanged from that for the January-October period, according to the NBS.
 
In November, combined profits at industrial firms with annual revenue of more than 20 million yuan (US$2.89 million) fell 1.8 percent year on year to 594.75 billion yuan, compared with an increase of 3.6 percent recorded in October.
 
According to the NBS, the sectors of steel, construction materials, oil exploitation, chemicals and special equipment manufacturing contributed 76.6 percent to the overall industrial profit increase.
 
By the end of November, the debt-asset ratios of major industrial firms dropped 0.4 percentage points from a year earlier to 56.8 percent.
 
Source: Shanghai Daily, December 27, 2018
China-made jetliner completes overwater demo flight
26th December 2018

 China's first domestically made regional jetliner, the ARJ21-700, completed its first manned overwater demonstration flight in southern China's island province of Hainan on Tuesday.

 
An ARJ21-700 aircraft took off from Haikou Meilan International Airport and landed in the airport after a two-and-half-hour flight, showcasing its operational capacity in the tropical marine climate, according to the Shanghai-based Commercial Aircraft Corp of China, its producer.
 
The demonstration flight has further expanded the aircraft's operation area in China. So far, it has completed flights between dozens of domestic airports, demonstrating its adaptability to extreme conditions, such as high temperatures, high humidity, and high altitude.
 
The ARJ21-700 is a jet with 78 to 90 seats and a flight range of up to 3,700 km. It acquired its aircraft type certificate in December 2014 and completed its maiden flight in June 2016. Mass production started in September 2017.
 
So far, the aircraft has been operated by three Chinese airlines, Chengdu Airlines, Genghis Khan Airlines, and Urumqi Air.
 
China has in recent years stepped up efforts to build its commercial aircraft industry. Besides the ARJ21-700, COMAC has also unveiled the larger C919 jet, a narrow-body jumbo jet designed to rival the Airbus A320 and the Boeing 737.
Source: Shanghai Daily, December 26, 2018
China cuts market access barriers nationwide
25th December 2018

 China took further steps in opening up its market to domestic and overseas investors Tuesday by rolling out nationwide a shorter negative list for market access.

 
The latest version of the negative list for market access consists 151 items and 581 specific rules, down by 177 and 288 respectively compared with the previous version.
 
The negative list outlines sectors, fields and businesses off-limits for investors. Industries not on the list are open for investment to all market players.
 
China started to pilot the negative-list approach in 2016 in the country's four provincial regions with free trade zones. The pilot practice was extended to another 11 provincial regions in 2017.
 
The country's top economic planner said the negative-list approach will help the market play the decisive role in allocating resources and enable a level playing field for all market players.
Source: Shanghai Daily, December 25, 2018
China cuts market access barriers nationwide
25th December 2018

 China took further steps in opening up its market to domestic and overseas investors Tuesday by rolling out nationwide a shorter negative list for market access.

 
The latest version of the negative list for market access consists 151 items and 581 specific rules, down by 177 and 288 respectively compared with the previous version.
 
The negative list outlines sectors, fields and businesses off-limits for investors. Industries not on the list are open for investment to all market players.
 
China started to pilot the negative-list approach in 2016 in the country's four provincial regions with free trade zones. The pilot practice was extended to another 11 provincial regions in 2017.
 
The country's top economic planner said the negative-list approach will help the market play the decisive role in allocating resources and enable a level playing field for all market players.
Source: Shanghai Daily, December 25, 2018

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