Weekly snapshot of China's local business news

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BEIJING, Aug. 9 (Xinhua) -- The following are highlights of China's local business news from the past week.

5G

Central China's Hunan Province has built 13,586 5G base stations since 2019, and the number is expected to hit 22,000 by the end of this year.

In the first half of this year, the province built 10,986 5G base stations, according to the Industry and Information Technology Department of Hunan Province.

CINEMA SUBSIDIES

Beijing has offered a total of 20 million yuan (about 2.9 million U.S. dollars) to the cinemas in the city to mitigate the impact of COVID-19 on their business, local authorities said Wednesday.

The subsidies are directed to 232 cinemas across the Chinese capital based on their box office in 2019, with the highest amount reaching nearly 500,000 yuan, according to the municipal film administration.

MERCEDES-BENZ, CATL PARTNERSHIP

German carmaker Mercedes-Benz and China's battery giant Contemporary Amperex Technology Co. Limited (CATL) will expand their partnership to develop future battery technologies, the two companies announced Wednesday.

The two companies have reached a cooperative agreement that covers a full range of battery technologies, from cells and modules for Mercedes-Benz cars and vans to CATL's cell-to-pack (CTP) design, which eliminates conventional modules and integrates the cells directly into the battery.

SMIC EARNINGS

China's top home-grown chipmaker, Semiconductor Manufacturing International Corporation (SMIC), said on Thursday that its sales revenue in the second quarter reached a record high of 938.5 million U.S. dollars, up by 3.7 percent quarter on quarter and 18.7 percent year on year.

The gross profit from April to June skyrocketed by 64.5 percent year on year to 248.6 million U.S. dollars, a quarter-on-quarter growth of 6.4 percent, according to the company's fiscal report.

CHINA-EUROPE CARGO TRAINS

Horgos port in northwest China's Xinjiang Uygur Autonomous Region that borders Kazakhstan has seen a surge in the number of China-Europe cargo trains this year.

From January to July, a total of 2,240 trains carrying over 3.3 million tonnes of cargo crossed the border via the Horgos station, with the transport volume up 55.37 percent year on year, according to the port station.

XINJIANG CLEAN POWER

Northwest China's Xinjiang Uygur Autonomous Region has generated 260 billion kWh of clean electricity since 2010, according to the State Grid's Xinjiang branch.

Out of the total electricity generated through green energy sources such as wind and solar power, over 180 billion kWh were consumed locally and about 80 billion kWh were transmitted outside the region. Enditem

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