China Economic News in Brief: Third-party win...

06-03

China Economic News in Brief: Third-party wind energy tech center; FDI in Gansu; Chongqing foreign trade14:07, June 19, 2011

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The following are some China economic news items in brief.FIRST THIRD-PARTY WIND ENERGY TECH CENTER IN ASIAAsia"s first third-party wind energy technology center has been launched in the Binhai New Area of north China"s Tianjin Municipality, according to company sources.The center is operated by SGS-CSTC Standards Technical Service Co., Ltd., a subsidiary of the Switzerland-based SGS in China. It will provide clients from all over the world with services such as size test for wind generator"s vane, test for performance of raw materials and test and verification for vane design.The center covers 103,400 square meters. It was built by three stages at a cost of 70 million yuan (10.6 million U.S. dollars).MORE THAN 2,000 FOREIGN COMPANIES SET FOOTHOLDS IN GANSUThere are 2,016 overseas-funded businesses in northwest China"s Gansu Province, involving 3.29 billion U.S. dollars in contracted overseas capital, according to the provincial trade promotion authority.A total of 1.39 billion U.S. dollars in direct overseas investment has been actually used in the province.In 2010, Gansu approved the establishment of 28 overseas-funded enterprises, involving 190 million U.S. dollars in contracted overseas capital. The province actually used 135 million dollars in direct overseas investment last year, up 1.03 percent on the previous year.Investors came mainly from Hong Kong, Taiwan, Virgin Islands, the United States and Japan. Most of the overseas capital went to wind power, photovoltaic electricity generating, wind-power equipment manufacturing, agricultural and farm produce processing projects.CHONGQING"S FOREIGN TRADE UP NEARLY 80 PCTSouthwest China"s Chongqing Municipality generated 7.4 billion U.S. dollars in foreign trade in the first five months of this year, a rise of 79.3 percent on the same period of last year, according to the municipal foreign economic relations and trade commission.The total included 4.18 billion U.S. dollars of exports, up 78.4 percent year on year, and 3.22 billion dollars of imports, up 80.4 percent.Between January and May, Chongqing generated 1.7 billion U.S. dollars in trade with the European Union, up 120 percent year on year, 1.17 billion dollars in trade with Association of Southeast Asian Nations, up 130 percent; and 980 million dollars in trade with the United States, up 88.7 percent. Source: XinhuaSpecial Coverage

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