Hong Kong Express Airways to become budget airlineMay 2, 2013In seeking a slice of the pie of Asia’s booming low-cost flights market, Hong Kong Express Airways Ltd wants to turn itself into a budget airline by Q3 of this year. Company President Yang Jianhong said that the firm will reveal plan details in May. Yang added that Hong Kong Express sees the potential for growth in budget carrier services, because the Asian market has been relatively untapped compared to the European and North American markets.
Volkswagen set to recall 80,000 Audi unitsJan 26, 2015
Automaker Volkswagen AG of Germany is scheduled to recall 80,000 units from its Audi luxury division because of fuel-injection system defects, with about 35,000 of the affected cars coming from mainland China. The automobiles were manufactured from April 2011 to April 2012. China FAW-Volkswagen Automotive Co will start its recall operations on 20 March. China is Audi’s largest market, but latest official figures reveal that China's economic growth was at its lowest in 24 years last year, which affected luxury sales.
Honda and Nissan to recall cars in ChinaJan 26, 2015
Japan-based carmakers Honda and Nissan have revealed that they would recall cars sold in mainland China. Honda (China) began its recall of 28 Acura RLXs on 23 January to repair defective front lights. The units were made from 9 May 2013 to 23 July 2014. Nissan Group of China said it will recall 48 automobile units starting on 27 January in order to fix a problem in the front wheel hub of the Infiniti QX60 model, according to China’s General Administration of Quality Supervision, Inspection and Quarantine.
Aston Martin recalls 602 cars in China due to seat heater problemsJan 9, 2015
Aston Martin has begun the process of recalling 602 vehicles on the Chinese mainland after discovering problems with the seat heater, China's quality supervisor said. The recall involves V8 Vantage, V8 Vantage S, DB9, Virage and DBS vehicles manufactured from October 2006 to October 2014. According to the General Administration of Quality Supervision, Inspection and Quarantine, owners of the recalled vehicles can have their cars repaired for free. The recall was made after it was discovered that the electronic module for the front seat heaters may fail in some vehicles due to lack of monitoring and power-off protection functions.
BMW to pay USD820m to its China dealersJan 6, 2015German automaker BMW will pay a lump sum of about USD820m to its dealers in mainland China. This after BMW's dealers in the country threatened to cease putting in orders due to low sales and increasing inventories. According to the China Automobile Dealers Association, some 70% of BMW's Chinese dealers suffered from losses in 2014. China's dealership structure lets car companies decide on sales quotas for their dealers, making dealers compelled to buy vehicles from the factories despite knowledge that the units do not really sell. CADA added that most dealer inventories are running 1.8 times more than they are really selling, more than 1.5 times, which is considered the alert line.
China opens Alaskan air routeDec 29, 2014
Mainland China launched its first direct air route to the city of Anchorage, Alaska’s biggest city, on 28 December with the takeoff of a Boeing 767 from the city of Changsha in central China's Hunan Province. The plane left Changsha at 5:35 PM and was expected to land in Anchorage in nine and one-half hours, said General Manager Liu Zhiren of Hunan Airport Management Group Co Ltd. The plane will then proceed to Los Angeles, California after a two-hour stopover, Liu added. US-based airliner Dynamic Airways will handle the new route in chartered flights until March 2015 when regular twice-a-week flights will begin.
HK-backed Nicaragua canal project beginsDec 24, 2014
The USD50bn Nicaragua Canal project, seen to be as big as the Panama Canal upon completion in five years' time, is being constructed in the southern region of the country under the auspices of the Nicaragua Canal Development Investment Co Ltd of Hong Kong. The project is believed to be vital for the upgrade of the Central American nation, possibly doubling its revenues, lowering poverty from 14% to 7%, and also providing formal jobs to a fourth of those working in the underground economy. HKND Group Chairman Wang Jing said that the canal project will also benefit other nations in the future who will use the waterway to transport their products.
Hainan Airlines seeks to add nine international routes in 2015Dec 18, 2014
Hainan Airlines Co of China plans to add a maximum of nine international destinations in 2015, the Wall Street Journal reported citing sources familiar with the matter. The Haikou-based firm seeks to open seven long-haul routes from Beijing and one each from Nanjing and Hangzhou. Hainan Air is the fourth-biggest and largest privately-owned airline in the country. International travel from China increased 19% in September this year, according to a report by aviation consultancy company OAG.
50% of China's consumers prefer local tech productsDec 12, 2014
UK-based research firm Mintel Group said at least half of mainland China's consumers think locally-manufactured technology brands are as good as those made overseas. The Mintel report adds that 3,000 people, aged 20 to 49, in ten cities were the subject of an online survey. Around 58% said that the quality of domestic brands is at par with foreign brands. Also, 61% said that they are satisfied with locally-produced tech goods.
China's November non-manufacturing PMI slightly upDec 3, 2014
The services sector of mainland China slightly recovered in November, with the purchasing managers' index for the non-manufacturing industry going up 53.9. It was at 53.8 a month earlier, according to a report that the China Federation of Logistics and Purchasing and the National Bureau of Statistics released together on 3 December. A 50-plus reading shows expansion and a below-50 reading indicates contraction.
ADB inks USD300 loan with China's Sound GlobalNov 21, 2014
The Asian Development Bank signed an agreement worth USD300m with wastewater-treatment firm Sound Global Ltd of China intended to improve the country's wastewater-management capabilities. The funds will be utilised to help treat 240,000 tonnes of wastewater daily in some 100 towns by 2017. According to ADB, wastewater-treatment resources and sewage pipelines are not as abundant in the areas outside major cities in China, and this could pose a huge environmental threat to lakes, rivers, and underground aquifers.
DHL to invest USD141m in ChinaNov 21, 2014
US-based DHL Supply Chain, the biggest contract logistics-service provider in the world, will put in another EUR113m (USD141m) in mainland China to boost its business there after experiencing double-digit growth in that country. This brings to EUR218 DHL's total investment in China including last year's investment. DHL Supply Chain Asia Pacific CEO Oscar de Bok said that in six years' time, DHL will have six more logistics hubs in Guangzhou, Hangzhou, Shenyang, Shenzhen, Wuhan, and the Shanghai Free-Trade Zone.
China eyes USD16.3bn fund for new 'Silk Road'Nov 5, 2014
China is reportedly planning to earmark USD16.3bn worth of fund to finance the construction of a major road that will link the country to three continents, Bloomberg reported. The fund will be used to build and expand railways, roads and pipelines in Chinese provinces. The new Silk Road plan aims to revive the old Silk Road that boosted trade along the route. The report added that the fund will be overseen by Chinese policy banks such as China Development Bank.
Liqui-Box opens new plant in TaizhouNov 4, 2014
Liqui-Box, a US-based liquid packaging company, has opened a new factory in Taizhou, China to support its growing customer base in Asian markets. The new 120,000-sq.-ft. plant in Taizhou will serve customers in the dairy, beverage and food markets. The company manufactures packaging for the delivery of liquid and semi-liquid products. Liqui-Box chose Taizhou because of the area's proximity to the Shanghai port and Nanjing.
China-led consortium is only bidder for Mexican rail projectOct 21, 2014
An eight-member consortium that China South Locomotive and Rolling Stock Co and China Railway Construction Corp Ltd lead, was the sole group to present a proposal before the deadline for a high-speed passenger railway that will connect the cities of Mexico and Queretaro. According to Mexico's Ministry of Communications and Transportation, Queretaro is the country's aerospace-industry hub, so Mexico intends to have a railway line to serve over 23,000 commuters.
Toyota to recall 93,700 cars in ChinaOct 15, 2014
Tianjin FAW Toyota Motor Co, the Chinese joint venture of Toyota Motors, will recall up to 93,700 cars in China due to leaking brake fluid. The recall, which was announced by the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ), covers the Crown model sedans that were produced between 1 December 2009 and 14 June 2012. The GAQSIQ said the recall is necessary because the leaking brake fluid could impede the proper function of the cars' braking system.
Jin Air opens routes between Jeju and two Chinese citiesOct 3, 2014
Budget carrier Jin Air has opened two routes between Jeju in South Korea and China's Quanzhou and Xian. Jin Air, the first Korean budget carrier to fly to a Chinese city when it opened the Jeju-Shanghai route in 2011, launched the two new flights this month using the 189-seat B737-800 aircraft. As of 2013, the number of Chinese visitors to the resort island rose to 1.81 million, from 570,200 in 2011, the Jeju Special Self-Governing Provincial Tourism Organisation said.
Henan Provincial seeks to construct airport and expressway in CambodiaOct 2, 2014
China-based Henan Provincial Communications Planning Survey and Design Institute gave a proposal to build an airport and an expressway in Cambodia from the country's capital Phnom Penh to the airport. Henan Provincial Chairman Chang Xingwen met with Cambodia's Deputy Prime Minister Keat Chhon and proposed to construct an expressway from the city of Phnom Penh to the Phnom Penh International Airport by way of a build-operate-transfer scheme.
Airbus expects 4.7% Asian growth due to ChinaSep 26, 2014
Airbus, the European aerospace giant company, revealed on 25 September that it sees rapid growth in Asia's aircraft market because of a great demand especially in mainland China. According to its Global Market Forecast, Airbus' passenger traffic will go up 4.7% year-on-year from 2014 to 2033 with around 31,400 new passengers and freighter aircraft worth an estimated USD4.6tr.
China, Malaysia sign sister port partnershipSep 16, 2014
The Qinzhou Port in south China's Guangxi Zhuan Autonomous Region has become a sister port of Kuantan, a port city in Malaysia, after China and Malaysia signed an agreement as part of their goal to revive the ancient maritime Silk Road. The two ports will cooperate in various fields including shared shipping lines, logistics, information exchange and talent training, said Li Xinyuan, Qinzhou City mayor.
Chinese shipbuilding industry threatens South Korean dominanceAug 27, 2014
Chinese shipbuilders are launching a challenge to the shipbuilders in South Korea, currently the biggest shipbuilding nation in the world, with its strong government support and a boost in offshore oil acquisition, cheaper production costs, and more technical know-how. President Zhang Guangqin of the China Association of the National Shipbuilding Industry said that even though offshore engineering equipment like dredgers, drilling platforms, maritime crane ships and wind-power devices are getting more expensive to acquire and more complicated to manufacture, the growing worldwide demand for energy resources will keep orders for ships coming in.
China and Nepal to form airline JVAug 20, 2014Tibet Airlines of China, Nepal-based Yeti World Investment Co and HIF (Himalaya Infrastructure Fund) Aviation Investment Co have agreed to have Tibet Airlines enter the Nepalese market with the help of the two Nepalese air firms and start a new aviation company to be called Himalayan Airlines. The three parties formally signed their deal in the Nepalese capital of Kathmandu. The new firm will open direct flights from Kathmandu to Lasha and Kathmandu to Chengdu on the Airbus 319 and 320 aircraft.
UPS, FedEx get license to operate in BeijingAug 15, 2014
UPS and FedEx both confirmed that they have received licenses from the Chinese government to extend their domestic express package services to Beijing and other cities without forming a joint venture with local partners. The approval, as reported by Reuters, has been much awaited by the two US firms for years since a 2009 postal law in China largely restricted foreign firms in delivering packages from abroad. UPS now has 33 licenses in China, which means it now serves 33 cities, while FedEx has a total of 58 licenses in the country.
China procurement list excludes AppleAug 7, 2014
The government procurement list of mainland China does not include iPads and Macbook laptops from US-based Apple Inc. According to media reports citing unnamed sources, ten Apple products — including the iPad, MacBook Pro and MacBook Air — were not on the final list that was given to the officials last July. The models were on the June list drafted by the Ministry of Finance and the National Development and Reform Commission.
Non-manufacturing PMI slips in JulyAug 4, 2014Data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing showed that China's official non-manufacturing purchasing managers’ index (PMI) dropped to 54.2 in July from 55.0 in June. The sub index for services fell to 53.2 from 53.5 in June and the sub index for construction fell to 58.2 from 60.6. The new-orders sub index for the entire sector was unchanged at 50.7. A PMI reading above 50 indicates an expansion in activity, while below 50 indicates contraction. The non-manufacturing PMI covers services including retail, aviation and software as well as real estate and construction.