A sampler of current Chinese business activity:
The government will subsidize 50 percent of investment for solar projects as well as relevant transmission and distribution systems that connect to grid networks. For independent photovoltaic power generating systems in remote regions that have no power supply, the subsidy will rise to 70 percent, the ministry said in an announcement on its website.
To become China's largest international energy port, the zone plans to expand its oil throughput to 100 million tons by 2012 and build five oil berths and new docks capable of handling 300,000-ton vessels and LNG carriers. Covering 70.9 sq km, the free trade zone is designed for integrated development of shipping, ports and modern logistics. Five auto parts manufacturing centers will also be established in the free trade zone for engine assembly, chassis, interior fabrication, on-board electronics and other components.
From 2002 to 2008, the average annual growth rate of the 10 kinds of nonferrous metals' output is 16.4 percent, (China is now) ranking the first in 10 kinds of nonferrous metals' output for 7 years.{
The Chinese have ~95% of global production for all rare earths and about 99% of dysprosium and terbium, and 95% of neodymium. China has reduced the amount of rare-earth metals that could be exported, and plans to reduce exports further by an additional 8.1% this year. By restricting exports, China would force companies that need these rare earths to relocate production to China -- accelerating the transfer of intellectual property to Chinese companies. Chinese production is projected to reach 160,000 metric tons a year by 2015 or so. That would be up from 139,000 tons in 2008. But global demand is projected to rise even faster, resulting in an annual shortfall of 40,000 tons by 2015. (higher prices) Makers of hybrid batteries must pay these prices because substitution is out of the question. Neodymium and praseodymium are essential for magnets of all light weight electric motors. A hybrid car needs a few pounds in drive motors and ~25 smaller electric motors throughout the vehicle. A typical large wind machine needs about 20 pounds of Chinese controlled rare earths and China is an important source of Lithium for the Li-ion batteries. Other rare earths such as cerium, yttrium and europium are used in liquid crystal display screens and in polishing glass.}
At present, the world has a total of around 10,700 kilometers operational high-speed rail, including about 2,000 kilometers in Japan and about 1,900 kilometers in France. China will build 42 high-speed passenger-rail lines with a total length of 13,000 kilometers in the three years to come. (“high-speed”= >200Km/hour)
China Railway Materials Commercial Corp has agreed to pay A$39.8 million ($34 million USD) to buy … 11.4 percent stake in United Minerals Corp and a 12 percent stake in FerrAus Ltd, the two Australian companies said yesterday. In a separate move, China Guangdong Nuclear Power Holding Co Ltd … will buy up to 70 percent of Energy Metals for A$1.02 per share and underwrite a 1-for-9 rights issue by the Australian firm at 90 cents a share. CITIC Resources Holdings, China's sixth-largest oil producer by output, aims to buy oil and resource assets in Central Asia, Africa and China. It has oil assets in Kazakhstan, Indonesia and the Hainan-Yuedong Block in China and about 554.8 million U.S. dollars of cash on hand. {More conversion of dollar reserves into real assets, none here as big as the occasional 10+ billion buys, but a billion every week soon adds up.}
CNOOC Ltd. said Monday that a gas field of the company in the South China Sea has commenced production with a current daily output of 30,000 cubic feet. The gas field, dubbed as Ledong (LD) 22-1, … is expected to reach around 150 million cubic feet a day. Natural gas from the field and also from LD 15-1, another CNOOC field 20 km away from LD 22-1, will be piped to customers, including refinery plants, chemical plants and city gas, in south China's Hainan Province. {Why China is enforcing its claims of economic exclusion zone in the S. China Sea.}
All above except { comments } and blue text, which is mainly from Juback’s Journal, are from article links in the current business section of:
http://english.peopledaily.com.cn/
SUMMARY: Napoleon's sleeping Chinese Dragon has awakened and is breathing fire.
Question is will it cook and eat the American goose or help it lay more golden eggs?
