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News from China
More snow on the way as Shanghai airports face delays
25th January 2018

 The strong cold front from the north is dumping snow and ice across the city.

 
Patchy light snow fell overnight, and by 8am, 2 to 4 millimeters of snow fell across the city. Qingpu District saw medium-to-heavy snow, with 4.2 centimeters accumulating on roads, according to Shanghai Meteorological Bureau.
 
Heavier snow is forecast this afternoon, and it will continue until the wee hours tomorrow.
 
A yellow alert for snow storms, second of the four-tier system, was released at 12:43pm, forecasting that 6 to 10 millimeters of snow will fall within 12 hours.
 
Forecasters said the city’s western and northern parts, including Qingpu, Jiading, and Songjiang districts, will be hit by heavy snow or even blizzards, which will dump up to 8 centimeters of snow on the roads.
 
Meanwhile, a yellow icy road alert, which was released last night, is still in place.
 
Due to freezing and snowy weather, some 20 flights have been cancelled along with over 40 being delayed at Shanghai's two airports this morning.
 
General takeoff and landing at both Pudong and Hongqiao international airports remained normal as over 120 flights braved the snow to land, and over 230 have taken off this morning, the Shanghai Airport Authority said.
 
The airport authority has helped to defrost 23 aircraft at Pudong and 63 at Hongqiao by spraying melting agents on aircraft bodies after being berthed on aprons overnight.
 
The air traffic controller has issued a third level yellow alert for potential flight delays at Pudong and Hongqiao airports. The takeoff and landing capacity at both airports is expected to be reduced by 30 percent from 7am today and 1am tomorrow, according to the air traffic controller.
 
To avoid massive flight delays, 11 snow blower vehicles have been standing by at both airports along with another four specialized vehicles to spray melting agents on the runways, according to the authority. A total of 90 tons of melting agent and 30 tons of industrial salt have been prepared.
 
Shanghai Railway Bureau announced that over 200 trains leaving from the city's three railway terminals for Anhui, Jiangsu and Beijing on Thursday and Friday will be cancelled.
 
Exposed water pipes, valves and meters at the airports have been wrapped with heat-retaining materials. Air-conditioners have been inspected to ensure terminal buildings stay warm.
 
The local agricultural commission said they will strengthen the protection of local vegetable greenhouses and clear the snow on the screens of the greenhouses to prevent them from being damaged. Seedlings planted in spring should be covered with more layers, as well as some overwintered vegetables and fruits.
 
The farmers are also told to clean the ditches to ensure good drainage and avoid flooding in fields. Efforts should be made to raise the yield of vegetables and fruits for abundant supply for the upcoming Chinese New Year.
 
Measures of anti-disaster management should be applied and farmers should also be careful with electricity safety.
Source: Shanghai Daily, January 25, 2018
Shanghai to ensure more rental homes available
24th January 2018

 Shanghai will make more effort in fostering its residential leasing market this year by speeding up real estate development as well as offering support for professional home leasing companies and institutions, Shanghai Mayor Ying Yong said.

 
He was speaking at the first session of the 15th Shanghai People’s Congress yesterday.
 
The city aims to add a total of 290,000 leasing units, including newly built rental apartments, to the local market in 2018 and set up a home leasing service platform, Ying said as he delivered the city government’s work report.
 
Shanghai will also add about 55,000 affordable housing units this year, improve its policies for joint-ownership houses and lower the application threshold for low-rent homes.
 
Ying pledged to stick to current tightening policies to quell speculation, and vowed to accelerate the pace of establishing a housing system that will ensure supply from multiple sources, provide housing support through multiple channels, and encourage both house purchases and rental.
 
“It is great to see that various accommodation demands will be satisfied through various means and with various products as the government has proposed,” said Siu Wing Chu, managing director for central China at Savills.
 
“A key job of the government will be how to work out an appropriate and scientific way to satisfy residents’ housing demands and make better use of existing inventories.”
 
Source: Shanghai Daily, January 24, 2018
China's 2017 growth shows "high gold content:" NDRC
22nd January 2018

 

 
China's economic growth pickup in 2017 was better than expected and accompanied by improving quality, efficiency, and structure, a spokesperson for the country's top economic planner said Monday.
 
"China's sound economic performance in 2017 was not the result of just one year, but the accumulation of arduous and lasting efforts since the 18th National Congress of the Communist Party of China," Yan Pengcheng, spokesperson for the National Development and Reform Commission (NDRC), said at a press conference.
 
The 6.9-percent GDP growth for 2017 showed "high gold content," Yan said, citing positive changes in economic structure, new growth sources, market vitality, and improving macroeconomic regulation.
 
During the structural transformation, the country worked hard to improve supply-demand relations and optimize the supply structure, he said.
 
In 2017, the country's value-added industrial output rose 6.6 percent, reversing the drops of the previous six years, NBS data showed.
 
The contribution of consumption to economic growth reached 58.8 percent, up from 51.8 percent for 2012.
 
In the past five years, China has maintained "strategic composure" by not resorting to large amounts of liquidity injection, and has sought new ways to improve macroeconomic regulation, Yan said.
 
"We have paid more attention to the functions of expectation management in macroeconomic control, raised policy transparency, and defused hidden dangers in the economy in a timely manner," he added.
 
"Looking ahead, conditions exist for continuous steady economic growth with sound momentum in 2018," Yan said.
 
China's economy expanded 6.9 percent last year, picking up for the first time in seven years and well above the government annual target of around 6.5 percent.
 
Source: Shanghai Daily, January 22, 2018
Chinese yuan advances on upbeat economic data
19th January 2018
 
The central parity rate of the Chinese currency renminbi, or the yuan, advanced to 25-month high on Friday after China released expectation-beating economic figures for 2017.
 
The yuan strengthened 232 basis points to 6.4169 against the US dollar Friday, according to the China Foreign Exchange Trade System.
 
The strong reading came after China released a string of impressive economic data for 2017, including a 6.9-percent GDP growth, which picked up pace for the first time in seven years.
 
Two-way movement will be normal for the exchange rate of the Chinese yuan in the future given uncertainties in the global economic recovery and the monetary policies of major economies, Wang Chunying, spokesperson with the State Administration of Foreign Exchange (SAFE), said Thursday.
 
China will continue to improve the formation mechanism of the renminbi exchange rate to enhance its flexibility and keep it generally stable within a reasonable range, Wang added.
 
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
 
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Source: Shanghai Daily, January 19, 2018

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