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News from China
Brookings Institution ranks Chengdu 3rd place in Global Metro Monitor 2018
9th August 2018

 With a growth rate of 7.2 percent and 5.9 percent respectively in per capita GDP and employment, Chengdu ranks third in the world and first in all Chinese metropolises on the Global Metro Monitor 2018 List recently released by America’s most influential think tank, Brookings Institution.

 
Based on data from Oxford Economics, Dublin of Ireland and San Jose of the United States took the first and second places in the report. This report employs two indicators including per capita GDP and employment growth rate to assess the comprehensive economic performance of 300 global largest metropolises in the past few years.
 
Judging from the data, Chinese metropolitan economies, especially Chengdu, have stood out by virtue of strong growth momentum.
 
Apart from Beijing, Shanghai and Guangzhou that lived up to expectations of ranking high in the list, other emerging metropolises in China, especially Chengdu, also made a bright figure.
 
To research into the changes of these cities, Brookings Institution has classified 103 Chinese cities into five categories according to city size, industrial structure and growth mode. Beijing and Shanghai fall into the category of mega city, 14 cities including Chengdu and eight other capital cities and municipalities as well as five coastal port cities belong to the category of major city.
 
Analysis shows that, since 2000, these five categories of cities have varied from each other in the growth mode of employment and per capita GDP. Despite of the unshakable dominance of Beijing and Shanghai from the perspective of urban size, the 14 cities in the category of major city represented by Chengdu are emerging as new economic growth grounds. Most major cities are ideally located as regional traffic hubs. With well-developed international airports, high-speed rail and seaports, they are able to better keep their industrial development and layout in perspective.
 
Take Chengdu as an example. Its rapid rise is largely attributed to its fast-evolving development in infrastructure and key industrial fields. Apart from Chengdu Shuangliu International Airport, Chengdu Tianfu International Airport currently under construction will be a welcoming addition as Chengdu’s second airport. This new airport is slated to open to traffic in 2020. By then, Chengdu will join Beijing and Shanghai as the third city on the Chinese mainland with two international airports. Moreover, originating at Chengdu, China- Europe Railway Express has now established a transportation network covering 14 domestic cities and 16 foreign cities, serving as a significant traffic hub connecting Asia and Europe. By virtue of great strides in aviation and railway, Chengdu has got a march on its metropolitan competitors across the globe.
 
 As to industrial structure, service and electronic information are coming to the fore as Chengdu’s pillar industries. According to latest data, in the first half of 2018, the added value of Chengdu’s service industry hit 382.76 billion yuan (US$57.13 billion), representing a year-on-year increase of 9.5 percent and accounting for 55.7 percent of its GDP. Meanwhile, Chengdu’s electronic information industry is also shaping well as a bellwether in helping this city establish a presence in global economic map.
 
As a host of Fortune Global 500 and industry-leading companies with international fame such as Intel, IBM and Global Foundries  branched into Chengdu, an entire industrial chain covering integrated circuit, manufacturing of complete machines and software service has taken shape.
 
Source: Shanghai Daily, August 9, 2018
Power company promises to keep city humming
7th August 2018

 As Shanghai swelters under an ongoing heatwave, the local electrical utility operator says it can guarantee power supplies for the city.

 
According to information from State Grid, electrical loads in 18 provinces and regions hit a record high in July. Shanghai’s power consumption has been less than other locales due to the effect of recent typhoons, according to the Shanghai Municipal Electric Power Company.
 
The electricity load of Shanghai is predicated to peak this summer at around 33 million kw; below its supply capacity of 36 million kw.
 
In case of emergencies, Shanghai’s power company has 173 repair stations all over the city, and more than 1,600 repair personnel are available around the clock to address breakdowns and power disruptions.
 
 
Source: Shanghai Daily, August 8, 2018
Power company promises to keep city humming
7th August 2018

 As Shanghai swelters under an ongoing heatwave, the local electrical utility operator says it can guarantee power supplies for the city.

 
According to information from State Grid, electrical loads in 18 provinces and regions hit a record high in July. Shanghai’s power consumption has been less than other locales due to the effect of recent typhoons, according to the Shanghai Municipal Electric Power Company.
 
The electricity load of Shanghai is predicated to peak this summer at around 33 million kw; below its supply capacity of 36 million kw.
 
In case of emergencies, Shanghai’s power company has 173 repair stations all over the city, and more than 1,600 repair personnel are available around the clock to address breakdowns and power disruptions.
 
 
Source: Shanghai Daily, August 8, 2018
Down jacket maker Bosideng to 'revitalize brand image'
3rd August 2018

 Hong Kong-listed apparel company Bosideng International Holdings said it's seeking to upgrade its retail formats and revitalize its brand image among a new generation of consumers. 

 
The company intends to focus on its core product, down jackets, and will enhance its presence in shopping malls and department stores instead of just relying on distributors. 
 
Bosideng's brand new flagship store on Nanjing Road East will be unveiled by the end of September this year, director of brand marketing Li Chuang told a media briefing in Shanghai on Thursday. 
 
In a bid to rebuild brand awareness, it will place brand advertisement through Focus Media's outdoor ad network, which covers office buildings as well as movie cinemas, with total spending of up to 100 million yuan (US$14.7 million).
 
In the 12 months ended March this year, Bosideng's profit climbed 57 percent to 616 million yuan, while revenue increased 30 percent to 8.89 billion yuan, recovering from annual profit losses for three consecutive years. 
 
It has also been shutting down physical outlets for business restructuring over the past few years and trying to divest other apparel businesses under the Bosideng brand. 
 
The domestic down jacket market is estimated to be worth 100 billion yuan in 2018, but with other apparel makers and sports brands also entering the market, Bosideng will shift its focus towards the building of brand awareness, products and retail channels to revitalize business. 
Source: Shanghai Daily, August 3, 2018

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