A woman about to test-drive a new energy car provided by Gofun, the car-sharing arm of Beijing Shouqi Group. Provided to China Daily

Chinese patents up 25% in Europe

Chinese companies filed a record number of patents in Europe ahead of planned expansions there, according to the European Patent Office. The office said Chinese companies filed 7,150 patents in 2016, a year-on-year increase of 25 percent. Huawei Technologies Co filed 2,390 patents, the second-largest number by a company globally, after Philips NV with 2,568 patents.

China asks EU to end solar panel tariffs

China called on the European Union to put an end to punitive duties imposed on Chinese solar panels as soon as possible following a decision by the EU to extend the tax for 18 months. The European Commission, the EU's executive body, announced on Mar 8 an 18-month extension, with a gradual phase-out, of duties on Chinese solar panels imposed more than three years ago. Wang Hejun, head of the Ministry of Commerce's Trade Remedy and Investigation Bureau, said China regrets that the EU has extended the duties, disregarding the opposition of Chinese companies, although the extension period has been shortened.

Exchange to offer soybean meal options

The Dalian Commodity Exchange is planning to launch soybean meal futures by end of this month, Chief Executive Wang Fenghai said on Mar 7. "We have all the approvals needed for soybean meal options and we are looking at launching by the end of this month," he said, speaking on the sidelines of a conference in Kuala Lumpur. The exchange is aiming to launch hog futures by the end of 2017, Wang added.

Nuclear power should be priority, exec says

A top nuclear industry executive has called for priority to be given to nuclear power as China's primary power supply, ensuring that plant output is not adjusted to meet fluctuations in demand. He Yu, chairman of China General Nuclear Power Corp, suggests further construction and use of a connected patchwork of grids across provinces and regions to ensure a consistent supply of the clean energy.

Sino-US tourism on growth trajectory

China-US tourism is set to grow further and can help promote closer people-to-people links between the two countries, the CEO of China's top online travel service provider, Ctrip, says. The company sees huge growth potential for Chinese tourists traveling to the United States, Jane Sun said at an event at Columbia University Business School in New York recently. Last year, a record 1.3 million people booked air tickets to the United States on Ctrip, she said. In 2016, the company served more than 160,000 Chinese tourists who traveled to the United States with package tours and other products, she said.

Electronic information sector growing fast

China's electronic information industry continued to grow quickly last year, with its value-added output expanding 10 percent year-on-year, the latest official data showed. The growth was 0.5 percentage points slower than in 2015, but outpaced overall industrial output growth by 4 percentage points, according to the Ministry of Industry and Information Technology. The statistics took into account major electronic information companies, or those with annual revenues of more than 20 million yuan ($2.9 million; 2.7 million euros; 2.4 million). The industry's rapid development was boosted by internet-based innovations and government efforts to improve internet infrastructure.

VW to recall over 680,000 Audis

German carmaker Volkswagen will recall 680,925 premium Audi cars in China, because of defects in coolant pumps that could lead to engine fires. A statement on the website of the General Administration of Quality Supervision, Inspection and Quarantine said the recall will affect some types of Audis manufactured in China and overseas between 2011 and 2016. Dealers will carry out the necessary repairs and replace parts free of charge.

Automaker FAW sees sales surge

FAW Group, a leading Chinese automaker, said sales surged at the start of the year on the back of expanding sales outlets. FAW Group, based in the northeastern city of Changchun, reported that the wholesale volume of various vehicles rose 21 percent year-on-year to 552,000 units in the first two months of this year. The wholesale volume of the group in February alone jumped 32.3 percent year-on-year to 228,000 units. FAW-Volkswagen's wholesale volume rose 10.9 percent year-on-year in February to 119,000 units. The wholesale volume of FAW-Toyota surged 46.4 percent year-on-year in February to 55,000 units.

Nation to become No 2 wine market

China will be the world's second-largest wine market by 2020 when sales of still and sparkling wine reach $21 billion (19.9 billion euros; 17.3 billion) in the country, VINEXPO announced in London on Mar 8. The data were released at a news conference by Guillaume Deglise, CEO of VINEXPO, the world's leading wine and spirits exhibition. It is forecast that China, which is currently ranked fourth behind the United States, the United Kingdom and France, will see growth of 39.8 percent in retail value over the next three years.

Sinopec to upgrade four refineries

China's Sinopec group, parent of Sinopec Corp, will invest 200 billion yuan ($28.9 billion; 27.4 billion euros; 23.8 billion) to upgrade four refineries between 2016 and 2020, Xinhua News Agency reported on Mar 9. The capacity of the four refineries will reach 130 million metric tons per year after the upgrade, while ethylene capacity will total 9 million tons per year, Xinhua quoted chairman Wang Yupu as saying. That would take the oil refining capacity to an equivalent of 2.6 million barrels per day.

CDB Aviation orders Boeing MAX 8 jets

China's CDB Aviation Lease Finance will buy 30 Boeing 737 MAX 8 passenger jets and is looking at more orders as it pursues international growth, industry sources said on Mar 7. The deal is worth $3.3 billion (3.1 billion euros; 2.7 billion) at list prices, but manufacturers typically charge about half price for actual market transactions, the sources said. Dublin-based CDB Aviation, an arm of China Development Bank Corp, and Boeing both declined to comment on the order. The CDB deal would be the first business announcement since the company appointed leasing veteran Peter Chang as its chief executive in December with orders to expand the bank's leasing arm into a global platform with an international presence.

Full steam ahead for underwater tourism

A maritime technology company, together with Russian scientists, plans to develop China's first manned submersibles for civilian use. The product is expected to be ready for the market by the end of this year, a senior executive said.

The developer, Tianjin Ostar Underwater Vehicles Co, said the submersibles would be able to carry between 20 and 40 passengers to depths of up to 24 meters. Two of China's well-known tourism operators from Zhangjiajie in Hunan province and Beibu Gulf in southern China have shown interest, said Zou Yongchunhe, deputy general manager of the company. The craft will be capable of performing flexible maneuvers to minimize its impact on underwater plant life, fish and coral.

(China Daily European Weekly 03/10/2017 page24)