Weekly snapshot of China's local business news

0 Comment(s)Print E-mail Xinhua, November 22, 2020
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BEIJING, Nov. 22 (Xinhua) -- The following are highlights of China's local business news from the past week.


The construction of the Starbucks China Coffee Innovation Park in the city of Kunshan, east China's Jiangsu Province, officially began on Monday.

The innovation park is in the Kunshan Economic and Technological Development Zone, with a total area of 80,000 square meters. It will likely be one of Starbucks' greenest coffee roasting factories globally.


Ningbo Zhoushan port, China's busiest port in the eastern province of Zhejiang, reported its oil and gas throughput exceeding 100 million tonnes in the first ten months of the year, marking the first time it reached this volume.

Currently, oil and gas have become the major types of goods with the fastest growth rate and the most stable increment at the port, serving as the main driving engine for the port's cargo handling capacity, according to the Zhoushan port navigation and administration bureau.


The Three Gorges Dam, the world's largest hydroelectric project on the Yangtze River, has set a new record for annual power output, authorities announced on Wednesday.

Power generation reached the 103.1-billion-kilowatt-hours mark at 8:20 a.m. last Sunday, surpassing the 103.098-billion-kWh record set by the Itaipu Dam in South America in 2016, according to an announcement made by the China Three Gorges Corporation.


McDonald's coffee brand McCafe has announced a plan in Shanghai to invest 2.5 billion yuan (about 381.6 million U.S. dollars) in its coffee market in China in the next three years.

The investment will go into opening new coffee shops inside McDonald's restaurants, upgrading equipment and providing professional training to cope with the country's growing demand for coffee, said Phyllis Cheung, CEO of McDonald's China.


Huachen Automotive Group Holdings has entered bankruptcy restructuring.

The Shenyang Municipal Intermediate People's Court in northeast China's Liaoning Province, where the company is based, on Friday accepted the restructuring application filed by a creditor. Sources with Huachen said the restructuring only involves its own brands, but its joint ventures with BMW and Renault will not be affected.


The electricity generated from new energy like solar and wind power in northwest China's Xinjiang Uygur Autonomous Region grew 9.5 percent year on year to 50.96 billion kilowatt-hours in the January-October period, according to the State Grid Xinjiang Electric Power Co., Ltd.

The region's utilization rate of its new energy power generating capacity hit 90.9 percent during the period, up 4.3 percentage points from a year ago and recovering from a record low of 63 percent in 2016. Enditem

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