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News from China
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
Unified foreign investment law to lift integrity
24th December 2018

 A draft law on foreign investment was submitted to a bimonthly session of the National People’s Congress Standing Committee on Sunday.

 
Once adopted, the unified law will replace three existing laws relating to Chinese-foreign equity joint ventures, non-equity joint ventures (or contractual joint ventures) and wholly foreign-owned enterprises.
 
Necessary mechanisms for the facilitation, protection and management of foreign investment are in the draft law.
 
These include the pre-establishment national treatment and negative list management, equal supportive policies, and equal participation in government procurement.
 
China has adopted a foreign investment administration model of pre-establishment national treatment plus negative list.
 
The move marks an institutional reform in response to new developments in economic globalization and changes in international rules for investment, according to a white paper, entitled China and the World Trade Organization, published in June.
 
As part of its efforts to further open up, the country unveiled a shortened negative list for foreign investment in June, cutting the number of items down to 48 from 63 and removing access restrictions in various sectors.
 
China adheres to its basic national policy of opening-up, and welcomes foreign investment, the draft said.
 
China implements high-standard investment liberalization and facilitation policies, builds and improves foreign investment facilitation systems, and creates a transparent and predictable environment, the draft said.
 
Analysts said the foreign investment law is meant to promote and protect foreign investment, and ensure foreign businesses enjoy fair treatment, which will boost their confidence in the Chinese market.
 
Foreign investment has played a positive role in boosting China’s reforms and will remain significant as the country seeks high-quality development, said associate professor Zhao Binghao with the China University of Political Science and Law.
 
The draft said local governments should rigorously fulfill their policy promises and all types of legal contracts with foreign-funded companies, otherwise, foreign companies should be compensated for their losses.
 
It underlined protection of intellectual property rights of foreign investors and foreign companies, and encouraged voluntary technological cooperation based on business rules.
 
It said conditions of technological cooperation concerning foreign investment should be decided by all parties of investment through negotiation, while government departments and officials cannot use administrative means for forced technology transfers.
 
At the end of November, a total of 950,000 foreign-funded companies became registered in China in line with the current laws and brought in more than US$2 trillion, performing a major driving force in China’s economic and social development.
 
Source: Shanghai Daily, December 24, 2018

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