Weekly snapshot of China's local business news

0 Comment(s)Print E-mail Xinhua, July 19, 2020
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BEIJING, July 19 (Xinhua) -- The following are highlights of China's local business news from the past week.


The customs authority at Alataw Pass, a major rail port in northwest China's Xinjiang Uygur Autonomous Region, handled a total of 2,128 China-Europe freight trains during the first half of the year, the authority said.

During the Jan.-June period, the port handled over half of the country's total China-Europe freight trains.


East China's Zhejiang Province has launched a three-year construction project of new infrastructure such as 5G networks and data centers, local authorities said.

The province will invest nearly 1 trillion yuan (about 143 billion U.S. dollars) in the new infrastructure construction, including building more than 120,000 5G base stations and some 25 large and super large cloud data centers by 2022, said Meng Gang, director of the Zhejiang Provincial Development and Reform Commission.


East China's economic powerhouse Jiangsu Province reported its fastest year-on-year growth in electricity consumption in 27 months in June as its economy recovered from the COVID-19 epidemic.

Its total power consumption, a key barometer of economic activity, reached more than 54 billion kWh last month, up 7.3 percent year on year, the State Grid Jiangsu Electric Power Co., Ltd. said.


An offshore wind turbine with a capacity of 10 MW has started operating in east China's Fujian Province, according to Dongfang Electric Corporation (DEC), the turbine's manufacturer based in the southwestern city of Chengdu.

It is estimated that the wind energy converter, jointly developed by DEC and China Three Gorges Corporation, can produce 40 million kWh of clean energy every year at an average wind speed of 10 meters per second.


The southern Chinese metropolis of Shenzhen on Wednesday rolled out a slew of measures, including purchase restrictions and higher down payments, in an attempt to cool down its housing market.

Since April, the housing market in Shenzhen, which borders Hong Kong, has witnessed a transaction boom, with prices of second-hand houses rising rapidly and people scrambling for purchases of new homes in some areas, according to a municipal government official.


A company focused on raising funds for green development projects nationwide was put into operation in Shanghai on Wednesday, with a total registered capital of 88.5 billion yuan.

The National Green Development Fund Co., Ltd. was jointly launched by the Ministry of Finance, the Ministry of Ecology and Environment and Shanghai Municipality. Enditem

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