BUSINESS CHINA DAILY HONG KONG EDITION Friday, July 23, 2021 right track Ministry to boost trade despite barriers

Exporters hurting from rising shipping the up trend of prices, he said. China will closely monitor the costs to get help; global ties will deepen price trends of bulk commodities, further diversify import sources and By Zhong Nan ulations,” said Li. build stable trade channels to main- [email protected] Despite pressures, China’s foreign tain adequate stocks and reasonable trade rose 27 percent year-on-year to price levels of raw materials. All necessary efforts will be made 18.07 trillion yuan ($2.8 trillion) Apart from establishing trade to stabilize and grow China’s foreign during the first half of this year. facilitation working groups with 15 trade despite mounting barriers and The rise was attributed mainly to countries participating in the devel- challenges, government officials robust demand that followed rapid opment of the Belt and Road Initia- said on Thursday. economic recovery in major econo- tive, China and its partners involved For instance, export-oriented mies from the impacts of COVID-19. in the initiative have created 14 A wind-power plant in Fuqing, Fujian province. jiang kehong / xinhua companies will receive all possible Rapid growth of cross-border cooperation mechanisms for trade help to withstand the impact of the e-commerce also contributed to sol- in services. recent rises in shipping and com- id trade, data from the General China has also worked with 22 modity costs, they said. Administration of Customs showed. countries to further enhance ties in Since higher shipping costs are About 40 percent of Chinese bilateral e-commerce cooperation to Carbon biz to spur green investments hurting domestic manufacturers, export-oriented businesses recently boost new forms and models of for- the government will urge global surveyed by the Ministry of Com- eign trade, said Guo Tingting, By SHI JING in Shanghai emissions trading. Five-Year Plan period, which will shipping companies to adopt a long- merce reported year-on-year director-general of the comprehen- As the country will gradually double the current amount. term perspective over short-term growth in new export orders, high- sive affairs department under the Vibrancy in China’s carbon emis- tighten its grip on carbon emissions Ethan Wang, head of investment considerations, so as to cherish the lighting improvement in global Ministry of Commerce. sions trading system will help quota, electricity companies that strategy for wealth management at growth opportunities in the Asian demand and domestic players’ abili- Bai Ming, deputy director of inter- advance the green transformation take a slower pace in low-carbon Standard Chartered China, said cli- market. ty to boost their earnings. national market research depart- of the country’s energy-intensive transformation, are sure to purchase mate change-related topics such as Such an approach will help ensure Li predicted that the recovery of ment at the Chinese Academy of industries and make green invest- quotas from industry peers. In other carbon neutrality will be one of the the world’s supply chains operate external demand and the steady International Trade and Economic ment a major theme in the capital words, companies taking the lead in major investment themes in China. smoothly, said Li Xingqian, director- improvement of the domestic econ- Cooperation, said that the structure market, said experts. low-carbon transformation can The transformation of the country’s general of the foreign trade depart- omy will continue to support the of China’s foreign trade has already Inaugurated on July 16, China’s expect to reap a windfall, he said. energy mix will mean clean energies ment at the Ministry of Commerce. growth of China’s foreign trade. optimized and upgraded. national carbon emissions trading Zhang Xia, chief strategist at such as wind and solar power will Owing to COVID-19, shipping com- But, in the second half of this year, For instance, the contribution of system, which is the world’s largest China Merchants Securities, said replace coal in electricity generation panies have been enduring a situa- growth may drop due to the high processing trade is gradually increas- at present, saw total trading vol- industries known for high carbon eventually, he said. tion where empty containers from growth base of last year and other ing. China’s high-tech firms have all ume exceed 4.7 million tons in the emissions — petrochemicals, Yin Zhongshu, chief analyst for many parts of the world are unable to uncertainties, Li said. performed well so far this year. first five trading days. chemicals, construction materials, environmental protection, power come back to China. The ministry called on its trade With many countries setting The carbon emission trading steel, nonferrous metals, paper- equipment and new energy indus- This led to rising costs — a three- partners to increase the supplies of goals to further cut carbon emis- price closed at 55.5 yuan ($8.6) per making and aviation — will be tries at Everbright Securities, said fold to sixfold surge — of shipping ocean shipping containers and sions, CIMC Raffles, a subsidiary of ton on Thursday, up 2.06 percent included in the carbon emissions that in the second half of the year, lanes. For instance, the shipping cost enhancing price supervision in the Shenzhen, Guangdong province- from Wednesday. trading system during the 14th investors can look for opportunities of a container from Lianyungang market. headquartered China International A dual-city mechanism has been Five-Year Plan (2021-25) period. in companies related to the changes port in Jiangsu province to the Port of It also urged them to reinforce Marine Containers (Group) Ltd, adopted for the national carbon Policies will be introduced to that will revolutionize the power Rotterdam, in the Netherlands, sky- international cooperation and announced earlier this month that it trading system. The Shanghai Envi- guide companies in such indus- industry and related segments, rocketed, from $2,500 to almost information sharing, work together has received a contract for up to six ronment and Energy Exchange is tries to reduce their carbon emis- including photovoltaic, new energy $13,000 last month, according to to maintain the international logis- low-emission LNG-powered car car- responsible for building the trading sions. Outdated production vehicles, energy storage and wind industry data. tics order, and promote the smooth riers from Wallenius Lines, a Swed- system while the China Hubei Emis- capacities will be eliminated from power. “We remind business associations operation of global supply chains. ish shipping company. sion Exchange in Wuhan, Hubei the market more rapidly, he said. As carbon trading matures, new in areas such as shipping and freight Li said raw material prices surged Construction of the carriers will province, deals with applications. Yang Yu, general manager of the demand for services like consulta- forwarding to further strengthen recently as price transmission has take place at CIMC Raffles’ Longkou China’s initial carbon trading research and innovation depart- tion, verification, management industry self-discipline and urge become a global phenomenon. The shipyard in Yantai, Shandong prov- participants are the 2,225 electrici- ment at Hwabao Securities, estimat- and market-making will emerge. companies in the industry to oper- rapid increase in domestic and for- ince, said Wang Jianzhong, CEO and ty companies that are registered ed the amount of carbon emissions The A-share carbon-neutrality ate in compliance with laws and reg- eign demand has further aggravated president of CIMC Raffles. with the Hubei exchange. included in the carbon emissions sector has risen for three consecu- Chen Li, chief economist at Chuan- trading system will increase to 8 bil- tive trading days since Tuesday, cai Securities, said that China’s elec- lion tons every year with the addi- according to market tracker tricity industry will embrace green tion of the eight high-carbon- Hithink Royalflush Information Pudong New Area pledges efforts to transformation, thanks to the carbon emission industries during the 14th Network. extend reach of multinational firms Aviation to fly high in Shanghai By SHI JING in Shanghai tute the second batch, said Weng. ong in the first half, making the area [email protected] Strengthened MNCs will help home to 1,125 such FIs. By WANG YING in Shanghai lished, covering major manufac- senger plane, is scheduled for Pudong to create larger platforms so Zhang Yuxiang, head of the [email protected] turers, suppliers, core comple- delivery to a customer within the Continued efforts will be made to that companies can explore the administrative bureau of Lujiazui, mentary enterprises and year. help extend Pudong, Shanghai- markets more efficiently. This the financial hub in Pudong, said Research and development of specialized services. The twin-engine, single-aisle based multinational corporations, should be one of the key functions the local government will actively longer versions and variants of the Qi Qi, an associate professor at C919, which is comparable to the or MNCs, better reach into the Asia- that Pudong should strive to achieve participate in the plan to extend the narrow-body C919 aircraft model Guangzhou Civil Aviation College, updated Airbus 320 and Boeing’s Pacific region and the rest of the in the near future. reach of MNCs in Pudong by intro- as well as the wide-body CR929 said the plan’s focus on the devel- new generation 737 planes, has world, local government officials This move is also part of the area’s ducing more leading investment model would be prioritized during opment of large passenger aircraft, had its maiden flight on May 5, said on Thursday. efforts to build itself into a role mod- institutions from home and abroad. the next five years, the municipal regional jets, wide-body aircraft, 2017. Its manufacturer COMAC Such efforts will be in line with el of socialist modernization in The central government has been government of Shanghai said on aircraft engines and aviation facili- said on its website it has so far the larger goal of growing Pudong accordance with the central author- dedicated in its efforts to create a Wednesday. ties is practical. received 815 orders from 28 Chi- New Area into a hub connecting the ities’ latest guideline, said Weng. business-friendly environment in In a guideline, Shanghai out- “Based on Shanghai’s existing nese and overseas companies. domestic and international mar- The Communist Party of China the country so as to facilitate foreign lined the further development of achievements in aviation, we can COMAC also develops and kets, they said. Central Committee and the State investment. The State Council strategic emerging industries as expect the guideline to bring the makes the ARJ21, which has Addressing a news conference, Council, China’s Cabinet, released a issued a guideline in August to sta- well as leading industries during local civil aviation industry to a received its airworthiness certifi- they said the proposed help for Pud- guideline last Thursday, saying that bilize foreign investment. For the the 14th Five-Year Plan period higher level,” said Qi. cate from the Civil Aviation ong-based MNCs will be part of the Pudong New Area should pioneer same purpose, the Ministry of Com- (2021-25). Particularly, the commerciali- Administration of China (CAAC) in global operation plan launched at China’s higher level of reform and merce released 22 detailed meas- Shanghai will accelerate the zation and industrialization of 2017, and completed up to 2.8 mil- the end of last year. opening-up, serving as a strategic ures in March. consistent innovation of its civil the single-aisle C919 and the lion passenger trips in the past five Weng Zuliang, Party secretary of link between the domestic and Zong Changqing, director-gener- aviation industry chain and raise accelerated production of the years, according to China Aviation Pudong New Area, said the ultimate international markets. al of the department of foreign the output value of its civil avia- ARJ21 — the advanced regional News. goal is to nurture a number of indus- Starting its development and investment administration at the tion and aerospace industry to 80 jet for the 21st century — are Efforts would also be made to try leaders at the international level. opening-up in 1990, Pudong has Ministry of Commerce, said at a billion yuan ($12.36 billion) by highly expected. explore longer models and variants Panasonic Procurement (Shang- long been appealing to internation- news conference on Thursday that 2025. Mass production of the ARJ21 of the C919 series, while the devel- hai) Co Ltd and Sinopharm Group al companies. Some 14 MNCs set up 68.6 percent of the foreign compa- By 2025, the guideline said, an has already started, and the C919 is opment of the ARJ21 series would are among the first batch of 41 com- their regional headquarters in Pud- nies polled by the ministry have aviation and aerospace industrial on track to receive airworthiness focus on applications like business panies that enrolled for the plan. On ong during the first half of this year, been “extremely content” with the cluster will take shape in Shang- certification, Qi said. trips and cargo transportation, average, they have seen their business which was nearly half of the city’s central government’s facilitating hai; large passenger aircraft’s Earlier this year, ThePaper.cn said the plan. size increase by over 40 percent year- total during the same period. policies, while another 31.4 percent commercialization will have quoted Yang Zhigang, chief tech- R&D of the wide-body CR929 on-year during the first half of this Meanwhile, 15 licensed financial have also expressed satisfaction made rapid progress; key techno- nology officer for R&D at Commer- would encompass the technology year. Fifty-two companies will consti- institutions (FIs) registered in Pud- with the measures. logical breakthroughs will be cial Aircraft Corp of China platform for aircraft engines, it made in jet engines and avionic (COMAC), as saying that the first said. systems; and a complete aviation aircraft of the C919 model, China’s Co-developed by China and Rus- Briefly industry system will be estab- first homegrown narrow-body pas- sia, the CR929 would be able to fly 12,000 kilometers with 280 pas- sengers onboard, according to PBOC conducts 10b ing the largest chunk of 21 percent meters, and the Huaihe River, COMAC. yuan of reverse repos of the country’s total. The southern which runs through its northern Different from the C919, province sold 2.3 trillion yuan worth region. The facilities, costing 270 which incorporates a global avi- The People’s Bank of China, the cen- of products abroad while buying million yuan ($42 million) and ation supply chain in its devel- tral bank, on Thursday conducted 10 goods valued at 1.5 trillion yuan undertaken by China Tiesiju Civil opment, the CR929 would be billion yuan ($1.55 billion) worth of from the rest of the world, up 26.9 Engineering Group (CTCE), more dependent on local indus- seven-day reverse repos carrying an percent and 20.9 percent year-on- include six network management try chains of China and Russia, interest rate of 2.2 percent, to main- year, respectively. centers, some workshops and traf- Qi said. tain reasonably ample liquidity in fic bridges, and will be finished As Qi put it, functional autono- the banking system. Anhui water diversion over the next 12 months. Construc- my would be two-sided. On one tion of the water diversion project hand, there would be more chal- Guangdong exports, project progresses started on Dec 29, 2016, with a lenges throughout the research imports up 24% in H1 East China’s Anhui province start- designed building period of six and development process; on the ed to build supporting facilities on years. The project is estimated to other, the process would also pro- First-half foreign trade of Guang- Thursday for its top project — cost 91.27 billion yuan, said Liu mote the Chinese aviation indus- dong province in South China grew water diversion between the Yang- Chuanghui, a CTCE staff member. try’s growth and improvement, 24.5 percent year-on-year to 3.8 tril- tze River, which traverses through A C919 aircraft parks at the hangar of Commercial Aircraft Corp like developing the turbofan lion yuan ($587 billion), represent- its southern part for some 400 kilo- Xinhua — China Daily of China in Shanghai. ding ting / xinhua engine to power aircraft.