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Author: WuhuW

Better Moves Needed to Support Small Biz


An employee works on the production line of an elevator component manufacturer in Haian, Jiangsu province. GU HUAXIA/FOR CHINA DAILY

 

Development climate improving as effects of pro-growth policy realized

China’s small and medium-sized enterprises have shown upward momentum in resuming work and business activity, although further policy efforts are needed so that more of them can resume operations at full capacity, according to a recent survey by the China Association of small and Medium Enterprises.

Facing multiple challenges and difficulties, smEs are under huge pressure to sustain profitability and growth, but their development climate is improving as the effects of pro-growth policy measures gradually unleash more potential, experts said, while calling for more policies to shore up smE growth.

China’s small and Medium Enterprises Development Index for July, based on the association’s survey of 3,000 SMEs, showed around 43.7 percent of surveyed firms were operating at over 75 percent capacity, up 1.75 percentage points from a month earlier.

The proportion of enterprises operating beneath 75 percent capacity was 47.75 percent, dropping 2.6 percentage points from that of June.

However, the overall SME development index declined slightly from 88.4 in June to 88.3 in July.

Ma Bin, executive deputy president of the association, said Chinese SMEs currently face more pressure and difficulties as the impact of domestic resurgences of COVID-19 lingers and exacerbates shrinking demand, supply shocks and weakening expectations, while uncertainties in global markets also grow due to factors such as the pandemic, geopolitical issues and increasing concerns over stagflation in the global economy.

“Pressure and difficulties facing small and micro-sized enterprises are especially obvious,” Ma said, adding that major problems facing SMEs, especially small and microsized firms, include rising costs, meager profits, financing difficulties and labor shortages.

She suggested more efforts be made to consolidate the upward momentum of the economic recovery.

Among the subindexes for eight sectors surveyed, transportation, postal and wholesale/retail registered month-on-month increases, while construction, lodging and dining stayed flat from June.

Indexes for industry, real estate, social services and information transmission and computer software all dropped slightly.

Zhou Maohua, an analyst at China Everbright Bank, said the resumption of work and business among SMEs is still beneath pre-pandemic levels, despite remarkable recent progress.

But Zhou said SME operations will continue to improve as domestic demand rebounds on the back of the accelerating Chinese economic recovery.

“China is gaining better control over COVID-19 and disruptions from the contagion to business operations and people’s lives are weakening,” he said.

“That, together with more policy effects expected to be unleashed to ensure supplies, stabilize prices and help enterprises stabilize growth, will lead to more rebound in domestic demand to steadily improve SMEs’ operations and profitability,” Zhou added.

According to the SME association’s survey results, subindexes for SME development in the construction industry, transportation, postal and storage sectors have risen for three consecutive months.

The survey also found that among the eight industries surveyed, liquidity indexes for seven industries and financing indexes for five rose from that in June.

Chen Jia, a researcher at the International Monetary Institute of the Renmin University of China, said there will be ample opportunities to shore up growth of SMEs in sectors such as digital infrastructure, new energy, digital economy and modern services, as China stresses development in related industries.

Chen suggested China improve financing policies and services for SMEs, as well as guide more investment and talent into emerging and promising industries, instead of labor-intensive ones that already suffer from fierce competition, in order to optimize resource allocation.

He also suggested industry funds at both national and local levels pay more attention to SMEs in strategically important industries, such as the internet of things chips, new-generation artificial intelligence networks and smart driving technologies.

https://www.wuhu.gov.cn/English/News/35210211.html

Chinese Automaker Chery Posts Strong Sales in Jan.-July

HEFEI, Aug. 12 (Xinhua) — Chinese automaker Chery Holding Group Co., Ltd. reported strong sales in the first seven months of 2022, according to the company’s report.

 

Chery sold 606,783 vehicles in the January-July period, up 19.3 percent year on year. Among the sales, the exports reached 198,859 vehicles.

 

In July alone, Chery sold 131,533 vehicles, up 57.7 percent year on year. Among the total, 50,614 units were sold overseas, up 90.1 percent year on year, setting the company’s monthly record.

 

Sales of Chery’s new energy vehicles (NEVs) in July saw a 253-percent year-on-year growth, reaching 25,617 units, which also set the company’s monthly record.

https://www.wuhu.gov.cn/English/News/35210071.html

China Renews Yellow Alert for High Temperatures

China’s national observatory on Friday continued to issue a yellow alert for high temperatures as an intense heatwave lingers in many regions of the country.

During daylight hours on Friday, parts of Beijing, Tianjin, Hebei, Shaanxi, Henan, Shandong, Jiangsu, Anhui, Shanghai, Hubei, Hunan, Jiangxi, Zhejiang, Fujian, Sichuan, Chongqing, Gansu, Inner Mongolia, Ningxia and Xinjiang are expected to experience temperatures of over 35 degrees Celsius, the National Meteorological Center said.

Temperatures in parts of Chongqing and Zhejiang may surpass 40 degrees Celsius.

The center advised the public to avoid outdoor activities during high-temperature periods in the afternoon and suggested workers exposed to high temperatures, or who work for a long time outdoors, take necessary protective measures.

China has a four-tier color-coded weather warning system, with red representing the most severe warning, followed by orange, yellow and blue.

https://www.wuhu.gov.cn/English/News/35210051.html

World Heritage Site Huangshan Mountain Attracts More Tourists in July

Huangshan Mountain, a UNESCO world heritage site in east China’s Anhui Province, has seen the number of tourists rise in July, according to the management committee of the scenic area.

The number of tourists to the scenic spot totaled 235,935 in July, a year-on-year increase of 19.73 percent. The number rose by 136.27 percent compared with that in June this year.

Local authorities have rolled out a slew of stimulus measures to attract more tourists, such as free tickets for students who this year took the college entrance exam or high school entrance exam and offering a 50 percent discount on ticket prices between June 9 and Aug. 31, a busy tourist season.

Huangshan, one of China’s most famous mountains, is known for its majestic scenic beauty, strange rocks, cloud-shrouded peaks and ancient pines. It was listed as a UNESCO World Heritage Site in 1990.

https://www.wuhu.gov.cn/English/News/35210031.html

The Third Youth Robot Competition Was Successfully Held in Wuhu

On July 26, the third youth robot competition (Wanjiang primary school competition area) hosted by Wuhu Municipal Association for Science and Technology, Municipal Bureau of Education and Jiujiang District Government was successfully held. This round of competitions held in Wanjiang Primary School included TABO Robot Children’s Artificial Intelligence Innovation Challenge, Robo Genius Artificial Intelligence Innovation Challenge, ENJOY AI Popularization competition, etc. 110 teams from all counties and urban areas of Wuhu participated in the competition.

Wuhu Youth Robot Competition has been held for three times, under the joint efforts of the associations for science and technology, education departments, schools and kindergartens at all levels. The number of participants has increased from more than 200 at the beginning to more than 800 this time. The contestants are not only in primary and secondary schools, but also for the first time this year, a robot competition for children from kindergartens, which aims to cultivate children’s scientific thinking and innovation ability from an early age, and leads children to the road of scientific research.

 Translated by Yuan Mengwen from Foreign Affairs Office of Wuhu Municipal People’s Government

https://www.wuhu.gov.cn/English/News/35037661.html

A Policy Promotion Conference of Wuhu to Attract Investment and Talents Was Held in Hangzhou

On July 20, a policy promotion conference of Wuhu to “attract investment and talentswas held in Hangzhou. Yang Zhibin, member of the Standing Committee of Wuhu Municipal Party Committee and head of Wuhu Organization Department, attended the conference and delivered a speech. Representatives of some colleges and universities in Zhejiang and nearly 100 representatives of Zhejiang businessmen and high-level talents attended the event.

At the promotion meeting, the heads of relevant departments of our city presented the talents policy of Wuhu and the promotion of national high tech zones in Wuhu, introducing the Milk Vetch Talents Plan, the specific measures to build a regional talent center and innovation highland in detailed. Wuhu expressed her strong desire to invite all kinds of talents, experts and entrepreneurs to visit Wuhu, working together for a win-win future. During the event, four enterprises made project promotion and exchanges, which provided an excellent opportunity for the communication between government and enterprises.

The promotion meeting is hosted by Organization Department of Wuhu Municipal Party Committee ( Talent Office of Wuhu Municipal Party Committee), and undertaken by Wuhu Municipal Investment Promotion Center, Wuhu Municipal Talents Development Group and Xiangshang Venture Holding Group.

 Translated by Yuan Mengwen from Foreign Affairs Office of Wuhu Municipal People’s Government

https://www.wuhu.gov.cn/English/News/35037621.html

“Wuhu Innovation Research Institute” Signed and Inaugurated

On July 13th, “Wuhu Innovation Research Institute”, jointly established by Wuhu Federation of Social Sciences and Anhui Normal University Federation of Social Sciences, was officially signed and inaugurated. Wei Xiufang, member of the Standing Committee and minister of Publicity Ministry of the Municipal Party Committee, and Zhu Jiacun, member of the Standing Committee and Vice President of Anhui Normal University, attended the event.

Wei Xiufang said that Wuhu City and Anhui Normal University are closely connected. The innovation research institute jointly built by the two sides aims to attract experts and scholars to study the frontier issues of disciplines and key issues of economic and social development, so as to improve the originality, foresight and accuracy of principles and policies released by Wuhu municipal government, which will surely provide valuable theoretical guidance and intellectual support for the development of Wuhu. It is hoped that with this unveiling as a new start, both sides will continue to expand cooperation areas, enhance cooperation levels and jointly step to a new stage.

According to the cooperation agreement, “Wuhu Innovation Research Institute” will provide policy consultation and suggestions by inviting the think tank to answer the questions proposed by officials and to solve the problems faced by Wuhu in terms of its innovative development, promoting the modernization of the social governance system and capacity. On the same day, the first batch of 10 innovative research topics of Wuhu Innovation Research Institute were announced.

Translated by Wang Mengxiao from Foreign Affairs Office of Wuhu Municipal People’s Government

https://www.wuhu.gov.cn/English/News/35027741.html

RCEP Unleashes Chinese Enterprises’ True Potential


A man passes by the exhibition booth of Anhui Conch Group, a Chinese cement and building materials manufacturer, at the World Intelligent Manufacturing Conference in Nanjing, Jiangsu province. LIU JIANHUA/FOR CHINA DAILY

 

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Chinese enterprises are expected to further utilize the potential of the Regional Comprehensive Economic Partnership agreement to upgrade operations and climb up the industrial value chain for high-quality development, according to trade experts and business leaders.

Officially taking effect on Jan 1, the agreement has grouped 15 Asia-Pacific economies including all 10 members of the Association of Southeast Asian Nations to create the world’s largest free-trade bloc, promoting regional economic integration through tariff concessions and other trade and investment liberalization and facilitation measures.

According to Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, thanks to the implementation of the RCEP agreement, Chinese enterprises will likely intensify cross-border industrial capacity cooperation with counterparts from other RCEP members, as well as strengthen RCEP market studies to develop products and services in accordance with different market needs.

“China and other RCEP countries already have a high level of cooperation in the manufacturing sector, but Chinese manufacturing enterprises in the past mainly built their presence in the region through exporting products, rather than other ways,” he said.

“The ongoing upgrades of China’s manufacturing industries require a formation of new competitiveness of Chinese enterprises, and to that end, the coordination in market regulation among RCEP members will play an important and positive role that will facilitate Chinese enterprises’ technological advancements and market-oriented innovations,” he added.

According to the rules of the trade pact, nearly 90 percent of tariffs on goods traded within the region will be removed over a period of 20 years. Furthermore, the trade pact allows products to have just 40 percent of their value added within the region to enjoy lower or zero tariffs, which analysts said will accelerate the integration of regional industrial chains.

Wang Cheng, chairman of Anhui Conch Group, a Chinese cement and building materials manufacturer, said at a recent forum organized by the Beijing-based RCEP Industry Cooperation Committee that Anhui Conch plans to invest around 200 billion yuan ($29.82 billion) in the RCEP region within five years, including doubling its investments in RCEP countries outside China to 30 billion yuan.

The company also aims to build a highly efficient supply chain in the region, to facilitate going-global strategies of other Chinese enterprises in high-end sectors such as intelligent manufacturing, new energy and new materials, and environmental protection.

Wu Dazhi, chairman of Guangdong Zhida-Walking New Material Technology Co Ltd, believes the trade pact will propel Chinese enterprises to utilize division of labor to carry out industrial cooperation programs in the region and to pursue a better position in the industrial value chain.

“That is especially important as Chinese enterprises face increasing competition from some neighboring countries in low-end manufacturing sectors, while the tide of protectionism around the world also grows,” Wu said, who is also president of the Guangzhou Leather& Footwear Association.

“Chinese products have a good reputation for their quality, and the fiercer competition in global markets will catalyze the transformation of Chinese enterprises to climb up into higher value-added sectors because those failing to adapt will be squeezed out from the markets,” he said.

According to Wu, although labor costs in China are higher than in some neighboring countries, such as Vietnam, China’s populous pool of high-end talent and skilled workers remain an advantage for Chinese enterprises to upgrade.

The RCEP, which accelerates the integration of regional industrial chains, will help unleash Chinese enterprises’ comprehensive advantages in industrial and supply chains and help them better coordinate the utilization of production factors in the whole region, he said.

Wu’s company cooperated with investors from regions outside the Chinese mainland to first establish a commercial entity in Hong Kong, which then went on to invest in Vietnam, per Vietnamese laws. It has also been exporting services to the region, thanks to the company’s strengths in industrial and supply chain management, technology and talent.

https://www.wuhu.gov.cn/English/News/34922051.html

Academicians and Experts Took Inspection Tour in Wuhu

On July 6th, during the 19th Science and Technology Forum and 2022 Academician Forum for Yangtze River Delta Region held in Wuhu, academicians and experts including Chen Jianping, Zou Caineng, Yu Jingquan, Leng Jinsong, Li Detian, Gao Tianming and Tan Zhemin took an inspection tour in Wuhu, accompanied by the municipal official Yang Zhibin.

In Wuhu Industrial Innovation Exhibition Hall, academicians and experts were impressed by the large number of innovative achievements such as industrial robots, new energy vehicles and general aviation aircraft independently developed by local enterprises. They all said that Wuhu has outstanding innovation capability, strong industrial vitality and great development potential. They hope to deepen the cooperation with the government, industries, universities and research institutes in Wuhu, promote the transformation of scientific research achievements, and make contributions to Wuhu’s industrial innovation. Wuhu Sculpture Park is picturesque with so many trees. Academicians and experts carefully appreciated creative sculpture works which demonstrate Wuhu’s innovative genes and cultural heritage and are integrated with good ecological civilization, effectively improving the cultural connotation of the city. Chizhu Bookstore, located in the park, is an urban reading space integrating reading, activities, display, leisure and other functions. Academicians and experts had a detailed understanding of the management and operation of the bookstore, and praised the innovative practice for effectively improving the taste of the city, enhancing cultural well-being and making the whole city full of the atmosphere of culture.

Translated by Wang Mengxiao from Foreign Affairs Office of Wuhu Municipal People’s Government

https://www.wuhu.gov.cn/English/News/35027711.html

Major Project of China’s West-to-East Power Transmission Program Starts Operation


Baihetan Hydropower Station. [Photo/Chinanews.com]

 

BEIJING — A major part of China’s west-to-east power transmission program kicked off operation Friday, a further boost to the coordinated development among different regions.

With its transmission line stretching about 2,080 km, the Baihetan-Jiangsu 800-kilovolt ultra-high-voltage (UHV) direct current power transmission project transmits clean hydropower from the southwestern province of Sichuan to east China’s economic powerhouse Jiangsu province.

It is the world’s first UHV direct current power transmission project using a new approach that combines the conventional direct current and flexible direct current technologies, according to the State Grid Corporation of China.

Starting construction in December 2020, the mega project spans five provincial regions, with many parts built into the mountains.

“We have worked against high altitude, low temperatures and complex landscapes to meet the schedule,” said Zhang Mingdi, a project manager participating in the construction of the project’s Sichuan section.

China’s west-to-east power transmission program seeks to balance the country’s electricity supply and demand in different regions. It transmits the electricity surplus in western regions rich in power-generating resources to eastern regions which need much electricity to power economic activities.

Sichuan is home to the project’s powerhouse Baihetan, the world’s second-largest hydropower station. The Baihetan-Jiangsu project is expected to accelerate the transformation of Sichuan’s natural resources into economic benefits, bringing investment totaling about 100 billion yuan (about $14.92 billion) in electricity and other sectors.

The electricity market’s volume of Jiangsu, the power transmission’s major receiver, is expected to top 10 million kW during the 2021-2025 period.

The project has a power transmission capacity of 8 million kW, generally meeting the demand of Jiangsu’s power demand, said Wu Wei, vice director of the construction department of State Grid Jiangsu Electric Power Co., Ltd.

Some 14 million tonnes of coal could be saved thanks to the project, which can deliver more than 30 billion kWh of clean electricity annually, helping reduce carbon dioxide emissions by over 25 million tonnes every year.

https://www.wuhu.gov.cn/English/News/34921951.html