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News from China
Chinese companies embrace digitalization at IT exhibition
16th March 2016

Chinese companies are making tremendous headway in embracing the era of digitalization, as shown by the strength and dynamism of the 500 Chinese companies at an ongoing IT exhibition here, experts say.

Out of the more than 3,000 companies from around the world at CeBIT 2016, one of the largest IT exhibitions globally, the Chinese companies have made a strong presence, unveiling the latest IT products and solutions and at the same time signing deals with leading service providers.

Chinese telecom giants such as Huawei and ZTE are no strangers at the event. "This year marks Huawei's sixth consecutive and most significant appearance at CeBIT. Its exhibition area at the show will span 2,500 square meters - twice the size of its space last year," Huawei said in a press release.

The company is showcasing Information and Communications Technology (ICT) products and solutions in the fields of cloud computing, big data, and Internet of Things (IoT) technologies. Among all the products and technologies, Huawei highlighted a new server called Kunlun.

According to Huawei, Kunlun is the world's first 32-socket x86 mission critical server which sets a new standard in mission critical computing and can "deliver superior performance and reliability to support enterprises' mission critical applications on a huge scale."

Kunlun was unveiled on Monday when CeBIT 2016 opened. At a press conference held here on Monday, Huawei announced that it had signed a memorandum of understanding with German robot technology company KUKA, under which the two partners will work together to develop smart manufacturing solutions for industrial markets in Europe and China.

Huawei and Deutsche Telekom announced at the press conference the launch of Open Telekom Cloud, an enterprise public cloud based on German data and privacy protection laws. Operated by T-Systems, the new public cloud platform will provide European enterprises of all sizes with on-demand, pay-as-you-go, secure cloud services to respond to fast changing market conditions.

ZTE is presenting a wide range of products and solutions as well. Under the theme "Enabler@M-ICT", ZTE displayed its ICT solutions for smart cities based on big data and IoT technologies.

Inspur, a leading Chinese cloud computing solutions provider, has been approached by some leading software provider in Germany.

Guo Jintong, General Manager of Inspur Overseas Marketing Department, said his company's competitive edge both in software and hardware had made it popular at the exhibition.

Chinese companies have an access to the biggest market in the world, which makes it possible for Chinese IT companies to test their products and solutions in a quick way, said Guo.

Zhang Cirui, CEO and Founder of a smart lighting network company Lettin in China, is convinced that smart home appliances should make people's life easier.

With the help of IoT and other technologies, Zhang is producing smart bulbs, which enable people to adjust the lights at their home by a simple click on the screen of their smart phones. The bulb is smart in the sense that it can serve as a bridge of WiFi signals with an additional part attached to it, Zhang said.

The progress made by Chinese IT companies has been recognized by their counterparts in Europe. At a summit held during CeBIT 2016 which was attended by officials from Switzerland, Germany and other countries on Monday, China and the United States have been identified as two countries with which Europe is trying to catch up in terms of digitalization.

Source: Xinhua
Silver lining in China's lackluster economic data
15th March 2016

Downward pressure on China's economy may remain, but indicators are starting to show the economy stabilizing and the effects of supportive measures are beginning to be felt.

Mixed economic data for the first two months was released on Saturday. Industrial output grew below expectation, house sales improved and a fixed-asset investment picked up. These are good signs in an economy which has been slowed to allow for restructuring while overcapacity is slashed.
 
"January and February activity data were mixed, but showed signs of growth stabilization and even a quicker recovery than expected in some pockets of the economy," said Julia Wang, an HSBC economist.
 
Wang's research note described the recovery in the property market as the "most positive sign." Sales of residential property jumped 28 percent in terms of floor space, and 43.6 percent in revenue terms, which compares very favorably with last year's gains of 6.9 percent and 14.4 percent in the same period. Property investment grew 3 percent year on year in the first two months, compared with a 2.1-percent decrease in December.
 
"Property investment appeared to have bottomed out, while infrastructure investment grew at a robust pace," said Wang.
 
She expects urbanization policy to play a key role in destocking in third and fourth tier cities, maintaining the recovery in housing investment.
Shen Jianguang, chief economist of Mizuho Securities, attributed the rebound in property market mainly to the cuts in transaction taxes and interest rates.
 
Growth of fixed-asset investment as a whole, which picked up very slightly to 10.2 percent in the first two months, also showed "tentative signs" of stabilization.
 
"Given strong commitment to a more expansionary fiscal policy and a large backlog of approved projects, we expect infrastructure investment to remain a key growth driver in 2016," said Wang of HSBC.
 
However, industrial production and retail sales data came in weaker than expected, with the former posting the lowest monthly growth since November of 2008, but behind the relatively weak data is some encouraging news.
 
Source: Xinhua
Chinese yuan weakens to 6.4913 against USD Monday
14th March 2016

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 8 basis points to 6.4913 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.

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 U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Source: Xinhua
China sets to win uphill battle against poverty
12th March 2016

Few of the over 55 million people living in China's underdeveloped rural areas have any idea of how the ongoing "two sessions" will soon change their lives for the better.

According to the government work report delivered by Premier Li Keqiang last Saturday, the central government will increase its poverty alleviation budget by 43.4 percent this year, lifting at least 10 million people out of poverty by the year end.
 
Last year, 14.4 million rural residents left poverty behind. Li Jinggao, 63, from eastern Jiangsu Province was one of them.
 
His wife has suffered from ill-health for years, his son has learning difficulties, and he, himself, was too old to work in a factory. The whole family depended on government aid.
 
Three years ago, the local government loaned him three ewes. Under his care, they bore seven to eight lambs every year.
 
The family returned the original ewes in 2015, and they have survived on the offspring ever since.
 
The story was shared with legislators from across China, sitting together in the Great Hall of the People in Beijing, as an example of a successful poverty alleviation initiative.
 
The central government aims to lift 55 million rural people out of poverty in the coming five years, in order to complete the building of a moderately prosperous society by 2020.
 
The leadership have promised "not to leave a single family" behind.
 
In November, 22 heads of provinces, autonomous regions and cities from central and western China signed a "responsibility agreement" with the central government, agreeing to be evaluated.
 
Legislators attending the two sessions have also voiced their commitment to the campaign.
 
"The remaining 55 million are the poorest and most difficult group," said Fan Xiaojian, member of the 12th National Committee of the Chinese People's Political Consultative Conference.
 
Fan is leading a State Council panel on poverty alleviation.
 
China has lifted 700 million people out of poverty over the past four decades. A total of 95.5 million rural people overcame poverty from 2011 to 2014, according to official data.
 
However, a slower economy, decreasing natural resources, environmental degradation and "repoverty" (the return to poverty) have put pressure on achieving the target, Fan said.
 
Economist Li Yining shared a different story during the parliamentary session. He said some black goats were donated to poor farmers but they were slaughtered for food.
 
"Instead of 'just giving' we should make training a priority," Li said.
 
The draft of the 13th Five-Year Plan, which marks priorities for national development from 2016 to 2020, proposes support for poor villages to develop their own featured products and services.
 
In the draft, e-commerce was highlighted as a key tool to enable villagers to sell their wares; photovoltaic technology to boost infrastructure construction; and rural tourism to attract more visitors.
 
"Multiple measures concerning migration, training, education, environmental protection and subsistence security have been implemented," Fan said. "I believe the scheduled poverty reduction goals will be achieved by 2020."
 
Source: Xinhua

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