Heavy Industry @ The China Perspective

June 19, 2007

By STAFF EDITOR

Sinopec – one of China’s twin monopoly oil and gas producers – will boost its natural gas output in the southwest province of Sichuan 36% to three billion cubic meters this year, the Economy Daily reported. China’s largest oil refiner produced 2.2 billion cubic meters of natural gas in the province in 2006, accounting for 30.6% of the company’s 7.2 billion-cubic-meter gas output and 12.3% of the country’s total. Sinopec needs to drill 40 new gas wells in the next 100 days to meet its target. It is rumored the oil producer has discovered an oil and gas field in northeastern Sichuan that is larger than its current number one field in Puguang, which has a proven deposit of 356 billion cubic meters. Sinopec is also considering building a 1,700 meter pipeline from Sichuan to eastern China to carry up to 12 billion cubic meters of gas each year. The project may cost up to US$8.7 billion (RMB66 billion). Sinopec, whose shares are traded in Shanghai, Hong Kong, New York and London, posted a net profit of RMB50.7 billion in 2006.

June 18, 2007

Honda plans hybrid vehicle production in China

By STAFF EDITOR

Honda Motor Corp is planning to produce hybrid vehicles in China, China Auto News reported. The decision, which follows recent Chinese government announcements it would tighten emission standards, is part of the Japanese automaker's efforts to develop a “green” brand image. Hubei province-based Dongfeng Honda – a joint venture between Dongfeng Automobile Group and Honda – will initialy sell imported hybrid Civic models to test the market, mainly in more advanced cities like Shanghai and Beijing. “It’s a pilot program to see if we can localize production before we really do it,” said a deputy manager. If the production begins, it will be Honda’s first hybrid vehicle production base outside Japan. The prices of gasoline Civics in China range from RMB147,800 (US$19,500) to RMB188,000.

June 14, 2007

EDF buys Chinese emission credits

By STAFF EDITOR

EDF (Electricite de France) purchased 3.6 million metric tons of carbon emission credits from Guangdong Nuclear Power Holdings to help the French company meets its greenhouse gas emission targets, Economic Daily reported. The credits were generated from the Chinese company’s wind power projects. The 1997 Kyoto protocol allows companies in developed economies to purchase carbon credits from developing economies to meet their emission requirements. EDF – the largest power producer in Europe – is preparing for further cooperation with Guangdong Nuclear in power generation and greenhouse gas emissions trading. China is looking to use non-carbon energies such as nuclear energy, hydropower, biomass fuels and gas to reduce its greenhouse gas emissions 950 million metric tons by 2010.

Rubbish truck factory to be built in Qingdao

By STAFF EDITOR

Japanese Fuji Heavy Industries and China International Marine Containers will establish a factory in Qingdao, Shandong province, to make rubbish trucks. Three shareholders will invest US$18 billion in the factory, with China International taking a 51% stake, Fuji Heavy 29% and Sumitomo Corp of Japan 18%. Demand for rubbish trucks and other sanitation infrastructure is escalating in China as urbanization takes hold. Fuji Heavy is trying to double its sales of rubbish trucks in China to 10,000 units in 2011.

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Today’s Daily Briefs E-Mail

	June 19, 2007 Sinopec to increase Sichuan gas output By STAFF EDITOR Sinopec – one of China’s twin monopoly oil and gas producers – will boost its natural gas output in the southwest province of Sichuan 36% to three billion cubic meters this year, the Economy Daily reported. China’s largest oil refiner produced 2.2 billion cubic meters of natural gas in the province in 2006, accounting for 30.6% of the company’s 7.2 billion-cubic-meter gas output and 12.3% of the country’s total. Sinopec needs to drill 40 new gas wells in the next 100 days to meet its target. It is rumored the oil producer has discovered an oil and gas field in northeastern Sichuan that is larger than its current number one field in Puguang, which has a proven deposit of 356 billion cubic meters. Sinopec is also considering building a 1,700 meter pipeline from Sichuan to eastern China to carry up to 12 billion cubic meters of gas each year. The project may cost up to US$8.7 billion (RMB66 billion). Sinopec, whose shares are traded in Shanghai, Hong Kong, New York and London, posted a net profit of RMB50.7 billion in 2006. June 18, 2007 Honda plans hybrid vehicle production in China By STAFF EDITOR Honda Motor Corp is planning to produce hybrid vehicles in China, China Auto News reported. The decision, which follows recent Chinese government announcements it would tighten emission standards, is part of the Japanese automaker's efforts to develop a “green” brand image. Hubei province-based Dongfeng Honda – a joint venture between Dongfeng Automobile Group and Honda – will initialy sell imported hybrid Civic models to test the market, mainly in more advanced cities like Shanghai and Beijing. “It’s a pilot program to see if we can localize production before we really do it,” said a deputy manager. If the production begins, it will be Honda’s first hybrid vehicle production base outside Japan. The prices of gasoline Civics in China range from RMB147,800 (US$19,500) to RMB188,000. June 14, 2007 EDF buys Chinese emission credits By STAFF EDITOR EDF (Electricite de France) purchased 3.6 million metric tons of carbon emission credits from Guangdong Nuclear Power Holdings to help the French company meets its greenhouse gas emission targets, Economic Daily reported. The credits were generated from the Chinese company’s wind power projects. The 1997 Kyoto protocol allows companies in developed economies to purchase carbon credits from developing economies to meet their emission requirements. EDF – the largest power producer in Europe – is preparing for further cooperation with Guangdong Nuclear in power generation and greenhouse gas emissions trading. China is looking to use non-carbon energies such as nuclear energy, hydropower, biomass fuels and gas to reduce its greenhouse gas emissions 950 million metric tons by 2010. Rubbish truck factory to be built in Qingdao By STAFF EDITOR Japanese Fuji Heavy Industries and China International Marine Containers will establish a factory in Qingdao, Shandong province, to make rubbish trucks. Three shareholders will invest US$18 billion in the factory, with China International taking a 51% stake, Fuji Heavy 29% and Sumitomo Corp of Japan 18%. Demand for rubbish trucks and other sanitation infrastructure is escalating in China as urbanization takes hold. Fuji Heavy is trying to double its sales of rubbish trucks in China to 10,000 units in 2011. Prev 48 49 50 51 52 53 54 55 56 57 Next	Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. MOST POPULAR Sany Heavy Industry rumoured to buy $80m A320 aircraft Changsha to spend U$21b on 322 key projects in ’09 Personal income tax threshold in line for hike Private biochemical giant to build $293m hi-tech park in Hangzhou Software exports up 50% through October Purchasing Managers Index down 5.8 points in November Yuchai lists 20% stake in diesel engine maker Aero firm has equity doubled Stimulus package to boost economy 1pp Zijin Mining sets aside $146m to buy listed miners Go to Complete List >

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