Thursday, August 13, 2009

Lifan scores biggest export order

Chongqing Lifan Automobile Co said it has secured its biggest overseas export deal when it won a contract for 2,000 units of its 520 sedan from the Philippines.
Lifan, a former motorcycle maker, said the total export value would exceed 100 million yuan (US$14.6 million) and the 520 mid-class sedans, powered by a 1.3 or 1.6-liter engine, would serve as taxis in the southeast Asian country. [12/08/09]

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BASF expansion plans on hold

BASF has delayed plans to build a methylene diphenyl diisocyanate in Chongqing, China, citing slow global growth in the segment. [10/08/09]

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Yangtze port operator keen to invest in property

PYI Corp Ltd, which is principally engaged in port development, may invest RMB 10 billion in a property project near Chaotianmen Harbor in Chongqing, said Deng Kaiwei, deputy district mayor of Yuzhong District, Chongqing. [10/08/09]

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Changan Ford sets new sales record

Ford-brand auto sales by Changan Ford grew 54% in July from a year earlier to a record high 19,486 units, the joint venture's sales division said today, media reported.
Changan Ford Mazda, Ford's Chinese venture with local Chongqing Changan Auto and Japan's Mazda Motor, sold 19,486 Ford cars last month, setting a monthly record. July was the sixth straight month of year-on-year growth for Changan Ford, the company said in a statement. [06/08/09]

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Rotterdam rail link

China Daily ran a story today detailing plans to link Chongqing to Rotterdam via an inter-continental rail line by 2012. Although not alluded to in the article, the link has been in development for some time on both the European and Chinese sides and, when completed, has the potential to connect China not only with Europe but also Central Asian and the Middle Eastern states, all of which had developed into prosperous export markets prior to the recent trade slowdown. [05/08/09]

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Foxconn and HP spend $3bn on new computer hubs

US-based computer maker HP and Taiwan-based contract electronics manufacturer Foxconn International Holdings will spenda combined $3bn setting up a PC production base and a laptop PC manufacturing hub in Chongqing.
The manufacturing base will have a capacity of 20 million PCs a year and will be fully operational in 2012, with most of the output exported to European markets.
Output from the plants are estimated to be worth up to CNY 400 billion by 2012, outpacing that of the city's top car and motorcycle industry. [04/08/09]

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City on the map for Burma gas pipeline

A decision to push ahead with gas and oil pipelines connecting Myanmar to China will see construction kick off next month.
A 2,800 km, 1.2bn cubic feet a day (cf/d) pipeline will carry gas from Myanmar, or further afield, to Kunming, in Yunnan province, and on to Nanning, in Guanxi region. A 1,100 km, 400,000 barrels a day (b/d) crude pipeline will run from a port in Burma's Rakhine state to Guizhou and Chongqing, through Kunming, providing a new route for supplies from the Middle East and Africa. [03/08/09]

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Taiwanese scale back

From January to June in 2009, there have been seven Taiwan-funded enterprises newly approved in Chongqing, with contractual utilized Taiwan capital of USD2.687m, down 90% year-on- year; the actual investment has been USD1.287m, down 96% year-on- year. The Taiwan investment is mainly concentrated in manufacturing industry in Chongqing, and the seven enterprises are invested in computer peripherals manufacturing, micro-motor and other motor manufacturing, automotive parts and accessories manufacturing, clothing wholesale and consulting industries. By now, Chongqing has accumulatively approved 793 Taiwan-funded enterprises (including 39 enterprises invested from the third place), with contractual Taiwan capital of USD1.612544b. The actual absorption of Taiwan capital has been USD336.615m since 1998. The number of projects, contractual foreign capital and actual use of foreign capital accounted for 17.2%, 9.8% and 3.5% in the totals of the city. [02/08/09]


Chongqing eyes 3G market

Chongqing will spare no effort to develop the 3G market, Chongqing Communication Administration told state media.
The network construction and business development of 3G service in Chongqing picked up its pace in the first half of this year. The 3G signals have covered downtown Chongqing since the service was put into commercial use three months ago, and there are more than 13,000 3G users in the municipality at present, the administration said. [01/08/09]

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