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Chinese companies to assemble trucks, buses in Pakistan

By APD writer Muhammad Sohail ISLAMABAD, Aug. 19 (APD) -- Two Chinese auto companies including Sinotruck Limited and Shanghai Shenlong Bus are to establish separate assembling units as well as spare parts manufacturing units in Pakistan, local auto manufacturers said Saturday. An official from the Pakistan Association of Auto Parts and Accessories Manufacturers Association (Paapam) said that a 10-member visiting delegation from the Sinotruck Limited had negotiations with their possible local partners and expressed their interest in establishing assembling units in Pakistan. “Sinotruck has also planned to utilize Pakistani skills and labor in the production of auto parts for their trucks,” said Wang Haotao, the leader of the delegation. Sinotruck has already exported 2,400 completely built-up trucks to Pakistan, and they decided to establish an assembling unit due to the rising demand for their vehicles in Pakistan. According to Wang, Sinotruck produces over 200,000 units per annum in China. Mashood Ali Khan, Chairman of Paapam, briefed the Chinese delegates about the growing auto industry of Pakistan and China’s growing involvement in the production of motorcycles, cars, buses, and trucks, and also in the production of their auto parts. In another development, Shanghai Shenlong Bus in collaboration with Pakistan’s local bus manufacturer Malik Enterprises and government of the country’s southern province of Sindh will also start a plant at the International Special Economic Zone to meet the local needs. Malik Enterprises is already importing buses from Shenlong and will import 110 buses for two public transport projects for Pakistan’s southern port city of Karachi. An official from the Malik Enterprises claimed that this was the first time that large buses fitted with Euro II- compliant technology were being brought into Pakistan. (ASIA PACIFIC DAILY)

China approved $25b projects, bonds to sustain growth

China approved big-ticket investments for 22 fixed-asset projects in July, up from 11 in June, and launched new bonds in an attempt to maintain stable economic growth, the National Development and Reform Commission said on Friday. The state planner said it will also renew efforts to boost private investment. Analysts said the moves will help offset the effect of financial regulatory tightening and real estate cool-off and help the country maintain stable growth in the coming months. The 22 projects are valued at 165.5 billion yuan ($24.8 billion) and mainly in the energy, water conservancy, transport, and high-tech sectors. They are expected to drive high-quality growth and better meet public demand for infrastructure and facilities, said Meng Wei, spokeswoman of the NDRC, at a news conference. Not just project numbers, even their value rose from June. The 11 projects approved in June were valued at 29.6 billion yuan. The expected investment boom will likely help bolster China's overall fixed-asset investment, which increased by 8.3 percent year-on-year in the first seven months, down from 8.6 percent for the January-June period. The commission has also launched two special bonds recently for supporting rural industrial development and development of industries that help improve people's quality of life, such as health, elderly care, education and training, culture, sports and travel, Meng said. The trend of issuing bonds to support development of selected industries started in 2015, when the commission launched nine special instruments for supporting strategically important industries, innovation, power grid and environmental industries, among others. "Such special bonds will help cushion the negative effect of tightened monetary regulation on growth," said a research note of investment bank UBS. The NDRC said it will also make more efforts to encourage private investment, which is crucial for economic growth and job creation. The government will simplify investment approval procedures for private investors and encourage private investors to participate in public-private partnership or PPP projects in infrastructure and public utility fields, the spokeswoman said. Most of China's economic indicators in July weakened, triggering concerns that growth may ease in the coming months. But any such easing would likely be moderate and China will not face the danger of economic meltdown, said a CITIC Securities report. UBS on Monday raised its forecast of China's GDP growth for 2017 to 6.8 percent from 6.7 percent. (CHINA DAILY)


Daily average of 20 enterprises settle down in Horgos

Some 4,894 enterprises settled down in the city of Horgos, in northwest China's Xinjiang Uygur Autonomous Region, in the first half of this year, China News Agency reported. According to Chen Chen, an official from the city's Market Supervision Administration, 2,406 enterprises settled down in the city in 2016, representing a daily average of at least six enterprises. In the first half of 2017, that figure exceeded 20. These enterprises are placing much hope in the future of Horgos, a frontier city along the traditional Silk Road thanks to the remarkable achievements regarding the Belt and Road Initiative, Chen said. Constant media coverage had further promoted the city domestically and abroad. The city's beneficial investment policy is also a great lure for enterprises. Boshihao Group, a Shenzhen-registered firm that develops and produces robots, registered in Horgos at the end of last year, producing 2,000 robots in the first half of this year. "We are exploring the markets in central Asia as well as Xinjiang," said Min Jianbo, general manager of the Group's Xinjiang branch. "The Belt and Road provides great opportunities for us," Min added. (BELT AND ROAD PORTAL)


Ministry of Commerce: further promote Belt and Road construction

Belt and Road construction made remarkable progress in the economic and trade sector in the first half of this year, while the Belt and Road Forum for International Cooperation in May achieved a series of important economic and trade outcomes. Commerce Vice Minister Qian Keming said recently that plans had been made to implement the agreements, turn the desire for promoting economic globalization into genuine actions, and push forward Belt and Road construction in scope and depth. An increasing number of countries and international organizations are coming to actively participate in the Belt and Road Initiative. In May, China successfully hosted the Belt and Road Forum for International Cooperation, which promoted Belt and Road construction to an all-time high, and created a strong motivation and much positive energy to solve current problems faced by many economies and boost economic globalization. Qian said achievements had been made in four aspects during the first half of this year. Firstly, trade cooperation was deepened. China actively expanded imports from Belt and Road countries, optimized the trade structure that was more open to each other and facilitated overall trade expansion. Secondly, investment cooperation was increased. China has continued to improve its policies and strengthen investment services, along with encouraging companies to invest in the countries along the Belt and Road routes. In the first half of this year, total investment in these countries was US$6.6 billion, with contracted projects worth US$71.4 billion, up 38.8 percent year-on-year. Thirdly, China continued to promote the construction of economic and trade cooperation zones in other countries. Chinese companies were encouraged to operate according to market requirements and to take development strategy, resources, market demand and other factors into consideration when building such zones. Fourthly, the construction of free trade zones was accelerated. At the Belt and Road Forum for International Cooperation, President Xi Jinping delivered a keynote speech and announced a series of significant measures, while witnessing the conclusion of over 270 agreements. Xi also announced the nation would hold the first China International Import Expo in 2018. Qian said the Ministry of Commerce was now making preparations for it, hoping to draw worldwide participation. Meanwhile, the ministry would properly implement major foreign aid measures, support developing countries in their economic development and improve people's wellbeing, and properly implement the agreements with related countries and international organizations to deepen Belt and Road economic and trade cooperation and benefit more countries and people. (BELT AND ROAD PORTAL)