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.
China Railway Corp to invest USD116.3bn this yearApr 9, 2014
China Railway Corp (CRC), the country's national railway operator, has announced that it will increase its yearly investment this year to USD116.3bn to raise the number of lines that it will be building in 2014. CRC General Manager Sheng Guangzu said the USD116.3bn investment this year will fund 49 railway projects this year, up from the original plan of 44 projects. Railway investment will be partly financed by bank loans. The government will also create a fund worth Rmb200bn (USD32.2bbn) to Rmb300bn (USD48.4bn) each year that is open to private investors.
Maersk Line to expand services in ChinaApr 4, 2014
Denmark's Maersk Line said it aims to further offer a wider range of services in China this year despite the reported losses of large Chinese shipping companies in March. Maersk Line, the shipping unit of Maersk Group, sees more Chinese companies moving to emerging markets to benefit from booming trade and investment opportunities this year. Maersk China Managing Director Jens Eskelund said trade with new markets in Africa and South America is surging, prompting Chinese companies to move to these markets.
Sime Darby forms JV to build, maintain China port infrastructureMar 12, 2014Sime Darby, a major Malaysia-based multinational conglomerate, is teaming up with two Chinese companies to build and maintain the sea channel and port infrastructure within the Weifang Central Port region. Sime Darby's 99% owned Weifang Sime Darby Port Co Ltd had signed a shareholders' agreement with Weifang Port Co Ltd and Shandong Hi-speed Transport & Logistics Investment Co Ltd to set up the JV. The JV company would be involved in the construction, management and maintenance of the sea channel, anchorage and other port infrastructure within the port region.
CNPC signs deal to construct pipeline to TajikistanMar 11, 2014China National Petroleum Corp announced that its unit has signed a contract with the Central-Asian nation of Tajikistan to put up a gas-pipeline firm. CNPC Trans-Asia Gas Pipeline Co Ltd signed the deal with Tajiktransgaz on working together to build a natural-gas pipeline firm that will manage the building of Line D of the Central Asia-China Gas Pipeline.
China Logistics pursues M&A deals to keep growthMar 7, 2014China Logistics Group, an international freight forwarder and logistics management firm, has announced that the company sees opportunity for expansion through potential acquisitions or mergers in fiscal 2014. The company sees the potential to further accelerate its growth through strategic acquisition to reach greater economies of scale. The company also said it will further expand its shipping volumes for its South American route out of Shanghai this year as trade between China and Latin America has been increasing over the past five years. The increase is largely due to strong economic growth in countries like Brazil and Argentina.
China Merchants Group awarded USD1bn Sri Lanka highway projectMar 6, 2014The Sri Lankan government is set to embark on the largest highway project in the country and has awarded the state-owned China Merchants Group to carry out the massive infrastructure development. The USD1bn highway project, which covers 300 kilometers in length, will kick off later this year. The first phase of the construction project, about 48 km, is expected to begin in August and will be done under the Build Own Transfer (BOT) system. The first phase stretch will have five interchanges, 50 overpasses and 30 underpasses. The venture was earlier reported to be funded by China Development Bank.
COSCO, China Shipping form partnershipFeb 26, 2014
China Ocean Shipping (Group) Co and China Shipping (Group) Co, both state-owned companies, signed a cooperation deal to share their resources in vital business aspects such as ports, shipbuilding, and logistics, as well as actual shipping. The move is seen as a reaction to other international shipping firms creating strategic alliances of their own in response to the industry's lingering slump. COSCO and China Shipping had traditionally competed fiercely against each other.
China, Nepal ink new air-service dealFeb 25, 2014
China and Nepal put the finishing touches on the amendment of their bilateral air-service agreement on 24 February. According to the terms of their new contract, the two nations can have a total of 56 direct flights to each other’s destinations per week, as opposed to the previous number of 14. Deputy Administrator Xia Xinghua of the Civil Aviation Administration of China and Secretary Sushil Ghimire of the Ministry for Culture of Nepal signed the new deal.
Ethiopian Airlines’ direct Shanghai route to be launchedFeb 24, 2014
Ethiopian Airlines will schedule daily flights to Shanghai starting 29 March. The flights will be operated from the Ethiopian capital of Addis Ababa and directed to Shanghai. The Boeing 787 Dreamliner with 246 economy class and 24 business-class seats will be used. Ethiopian Airlines already has routes to Beijing, Hangzhou and Guangzhou.
Spring Airlines seeks international expansionFeb 7, 2014
China’s first-ever low-cost airline carrier, Spring Airlines Co Ltd, is seeking to expand its reach in the international market, aiming to account for 30% of its network routes before the year ends. Spring was launched in 2005 and now has 15 international routes –18% of its entire network at the close of 2013. Spring Airlines Chairman Wang Zhenghua said that South Korea and Japan, along with Southeast Asian nations, are among Spring’s target markets.
China Southern now flies to South Island in NZFeb 4, 2014
The maiden direct-commercial route from China to South Island in New Zealand was made official with the touchdown in Christchurch on 3 February of a China Southern Airlines chartered flight. The plane, which in flew from Guangzhou, is also the first-ever commercial flight made using a Boeing 787 Dreamliner into the Christchurch Airport. CEO Martin Snedden of the New Zealand Tourism Industry Association said that tourists from China, New Zealand's second-largest source of visitors following Australia, would increase with the new route.
China January non-manufacturing PMI declines, but still reflects expansionFeb 3, 2014China’s official non-manufacturing Purchasing Managers' Index dropped to 53.4 in January from 54.6 a month before, according to a statement from the China Federation of Logistics and Purchasing released on 3 February. The official manufacturing PMI of the federation, which is a companion index, decreased to 50.5 in January from 51 in December. On both indices, a score of 50 separates expansion from contraction. Growth in China’s services sector including real estate, construction, and retail also slowed down last month, indicating that China’s economy has started the year rather weakly.
Central China-Saipan direct air-route launchedJan 28, 2014
A Dynamic Airways Boeing 767 took off for Saipan from Tianhe International Airport in Hubei Province, Central China on 27 January, the very first direct air route from Hubei to the US territory in the Pacific. Two-hundred fifty-three passengers were on board the chartered flight to the island resort has recently become popular with China’s new rich. In all, 101 flights will leave from or arrive in Wuhan during Spring Festival period, demonstrating the city’s increasing importance as a destination.
Subways and railways investment to hit USD165bn this yearJan 20, 2014The National Development and Reform Commission has said the government is set to spend nearly Rmb1tr (USD165bn) on constructing subways and railways this year. With this year's additional 600 kilometres of new subways, China's total subway network will reach 2,800 kilometers. A total of 29,100 kilometers of railway lines will also be constructed this year, bringing the total to 12,800 kilometres of high-speed railway lines. Due to high demand, some analysts have suggested that the government should develop lands along railway lines in order to raise funds and spruce up investments.
China to open high-speed rail line to N Korean borderJan 3, 2014
Official state media has reported that China will open a high-speed rail line to the North Korean border next year, shortening the journey between Shenyang and the border city of Dandong from three and a half hours to just one. Xinhua news agency said the opening of the rail link shows that China remains committed to boosting trade and economic ties with North Korea, and the rail line has been under construction since 2010. At present, as much as 80% of trade between China and North Korea passes through Dandong.
Zhejiang Loong Airlines orders 20 new Airbus planesDec 30, 2013
Hangzhou-based carrier Zhejiang Loong Airlines is expanding its fleet by ordering 20 A320 Airbus planes, Airbus have said in a statement. The order came after the Zhejiang Loong was given a permit for the transport of passengers when it signed the MOU with Airbus at the 15th Aviation Expo China 2013 in Beijing. With the new A320ceo and A320neo planes, the airline plans to offer services to destinations within a range of four hours from Hangzhou.
Tianjin port still world’s fourth biggestDec 30, 2013
China’s Tianjin port announced on 29 December that its yearly cargo exceeded 500 million tonnes for the first time ever, keeping its place as the fourth-biggest harbor in the world based on cargo. Tianjin Port (Group) Co officials credited enhanced infrastructure and stable flow of products from inland part of China such as oil, coal, ore, and steel as the chief factors behind the port’s success.
China Eastern to launch Beijing-Bali direct flightsDec 30, 2013China Eastern Airlines will launch direct flights from Beijing to the island of Bali in Indonesia starting on 31 December, the Shanghai-based company revealed on 29 December. China Eastern has scheduled three Airbus A330-300 Beijing-to-Bali flights each week.
Hainan Airlines plans Beijing-Boston flightsDec 5, 2013Hainan Airlines, the largest privately-owned airline company in China, announced plans to start serving direct flights between Beijing and Boston beginning June next year. The direct Beijing-Boston flights will start on June 20 and will be available four-times weekly – Wednesdays, Fridays and Saturday. Boston will become the fourth American city that Hainan flies to. The Chinese airline currently serves Toronto, Seattle, and Chicago. Last September, Hainan Airlines launched its inaugural flight to Chicago from Beijing through an Airbus 340.
Malaysia orders 30 light rail trains from ChinaDec 3, 2013
CSR Zhuzhou Electric Locomotive Co, a public transport vehicle manufacturer based in central China, has won the bid to build 30 light railway trains for Malaysia, the company has said. The trains, comprising 180 carriages, will be delivered 20 to 35 months after the deal is signed. Each will have a capacity of 1,300 people and be able to run at 80 kilometers per hour, said Li Jun, chief of technology for CSR. The price of the order has not yet been disclosed.
American Airlines to launch non-stop Dallas-China flights in 2014Oct 17, 2013
AMR Corp, the parent company of American Airlines, announced that it would open the first nonstop routes between Dallas and mainland China in 2014, but will have to end to service between New York and Tokyo due to government flight-schedule restrictions. AMR Corp added that it plans to begin nonstop services to both Shanghai and Hong Kong from its hub in the Dallas/Fort Worth International Airport by June of next year.
Spring Airlines to launch direct Shanghai-Kaohsiung routeOct 9, 2013
Shanghai-based Spring Airlines will soon become the very first budget carrier to operate a direct flight between Shanghai and the city of Kaohsiung in Taiwan. Spring Airlines made the announcement on 8 October, adding that it will run three flights a week between the two cities using an Airbus 320 starting 27 October.
China's Qoros tops European crash testSep 26, 2013
Qoros Auto Co of China gained the top score in a Euro NCAP crash test on 25 September, earning five stars for its Qoros Sedan 3. The Shanghai-based auto firm’s Development Chief, Roger Malkusson, said the NCAP score will help the auto company gain a prominent position in the Chinese car market as it starts marketing the Qoros Sedan 3. Qoros is a joint venture between Chery Automobile Co of China and investment-group Israel Corp.
Comac's delivery of first China jetliner delayedSep 25, 2013State-owned Commercial Aircraft Corporation of China (Comac) has again postponed the delivery date of the first China commercial jet airliner, the Associated Press reported. The jet was originally promised to be delivered in 2007 but Comac Chairman Jin Zhuanglong said development issues have moved the delivery date to mid-2014. The country's first jetliner is part of China's attempt to challenge Boeing and Airbus. Jin said the program is still on track and that four prototypes have made 2,000 flights with 4,000 hours in the air.