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's top container ports see steady growthJul 18, 2014
Throughput at China’s top eight container ports grows 7.8% year-on-year to 11.51 million TEUs, higher than the 4.6% year-on-year growth seen in May, data released by Citi Research showed. A breakdown of the three port regions of China reveals that growth in the Yangtze River Delta grew the fastest at 12.1% year-on-year. Shanghai and Ningbo saw double-digit growth in June, with Shanghai recording an 11% improvement and Ningbo up an impressive 14.2% year-on-year, said Citi Research China analyst Vivian Tao.
Weaker renminbi troubles China's state airline firmsJul 15, 2014
The three biggest state-owned airline companies in China are believed to get weak H1 results in August due to the weakening renminbi, even though air traffic has consistently increased throughout the nation. Air China Ltd announced on 14 July that its H1 net gains could decline by as much as 65% because of the rising finance expenses on foreign-exchange losses. Air China posted an H1 net profit of Rmb1.12bn (USD180.4m) 12 months ago.
China exports up due to US demand boostJul 10, 2014
The volume of China’s exports went up in June because of an increase in consumer demand in the United States. The export growth rate did not impress some economists, while others put the blame on the results of alleged distortions in last year’s Chinese trade data that were utilised in the comparison. HSBC Holdings economist Ma Xiaoping said that the world demand recovery is still on target although the momentum is rather slow.
China’s international, regional routes up 9.8% in MayJul 4, 2014The flight passenger volume of mainland China went up 9.8% in May year-on-year, according to data that the Civil Aviation Administration of China released on 3 July. In the month of May, a record of 31.3 million passengers rode planes. An estimated 2.38 million of these were on international flights – a 16.4% increase from the same period last year. In May, 826,000 passengers rode on planes on routes from mainland China to Hong Kong, Macau, Taiwan and back, or a 17.7% year-on-year rise.
HK Express to expand mainland routesJun 26, 2014
Hong Kong's only low-fare airline, HK Express, announced that it will expand mainland routes as part of its plan to start more flights this year. Following the launch of daily flights to Kunming, the capital of Yunnan province, last October, the company will soon open its second route to the mainland – Ningbo, Zhejiang province. Starting from 1 August, the airline will operate five flights a week between Hong Kong and Ningbo, offering a flexible schedule for business and leisure travelers in Hong Kong and the Yangtze River Delta. HK Express deputy CEO Andrew Cowen said the company will recruit 300 new cabin crews by the end of 2015 to meet demand for its expansion plan.
China's civil aviation investment hits USD11.2bn in 2013Jun 25, 2014
The Civil Aviation Administration of China (CAAC) said the government made a total of Rmb1.445tr (USD22.7bn) investment in fixed assets in 2013, including Rmb71.7bn (USD11.2bn) in civil aviation infrastructure and technical investment, an increase of 0.6% year-on-year. Investment in airport systems increased 1.8% to Rmb50.8bn (USD7.9bn). During the year, there were 15 major airport projects, including the new Hefei Airport as well as expansion projects at Shenzhen, Guiyang, Xining, Nanjing, Tianjin, Guangzhou, Nanning and Shenyang airports.
China-Mauritius direct flight to be launchedJun 23, 2014
There will be a new direct flight starting 27 June from Shenzhen in southern China’s Guangdong province to Port Louis, capital city of Mauritius. The flight CZ6659, operated by China Southern Airlines, will run once a week, taking off from Shenzhen at 23:00 local time every Friday and arriving in Port Louis at 4:30 local time, according to the China office of Mauritius Tourism Promotion Authority (MTPA). There are already three flights between China and Mauritius---in Hong Kong, Beijing and Shanghai. The island destination received 41,000 Chinese visitors in 2013, up from the previous year’s 19,000, according to the MTPA.
China, US airlines transported 4.4 million passengers in 2013Jun 23, 2014
An estimated 4.4 million passengers were carried by Chinese and American airlines last year, according to the Civil Aviation Administration of China. The CAA added that 17 airline companies from China and the US transported the passengers plus 150,000 tonnes of cargo. The two countries have deepened their cooperation as air travel market has grown bigger. On 24-25 of June, US Department of Transportation officials held talks with CAAC executives in the city of Chengdu in Sichuan Province regarding air transport governance and policy.
China's services PMI slows in May – HSBCJun 5, 2014The HSBC China services Purchasing Managers' Index (PMI) dropped to 50.7 in May down from 51.4 in April, according to HSBC Holdings PLC. HSBC chief economist for China Qu Hongbin said the drop in services PMI suggests that growth momentum in China remains slow and private sentiment was weak. He urged policy makers in the country to continue easing monetary and fiscal policies in the next months in order to support economic growth. The HSBC China Services PMI is based on replies from purchasing executives at more than 400 private service-sector companies in China. Earlier this week, China's nonmanufacturing PMI rose 55.5 in May, the highest reading since November last year and up from 54.8 in April.
Growth in China’s freight transport volume slowsJun 2, 2014The National Development and Reform Commission said the volume of freight transport in China increased in the first four months of this year, but at a lower pace due to the economic slowdown. The volume of freight transport by road stood at 11.5bn tonnes from January to April, up 8.9% from a year earlier. The increase, however, was slower compared to the double-digit growth during the same period last year. A total of 1.61 billion tonnes of cargo were carried on waterways in the first four months, up 6.3% year on year. The railway freight was down 3.3% from a year ago to 1.26 tonnes.
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.