IN BRIEF (Page 18)

Trade

Exports of Chinese PV products plummet

Exports of Chinese photovoltaic cells and components fell 31 percent in the first half of this year, due to overcapacity and trade disputes, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products says.

Export value stood at $6.5 billion in the first six months, it said.

Exports to the European Union, which contributed more than 40 percent to the total export value, tumbled 58.3 percent, and those to the US fell 48.9 percent in the first six months.

By contrast, exports to Asian and African countries rose more than 150 percent and 500 percent respectively, data showed.

Finance

Industrial Bank H1 profit rises 26.5%

Industrial Bank, one of China's second-tier shareholding commercial banks, reaped 21.64 billion yuan ($3.5 billion) in net profits in the first half of this year, 26.5 percent higher than in the corresponding period last year, its semi-annual report says.

The bank posted 53.46 billion yuan in revenues from the start of January to the end of June, up 29.7 percent on the corresponding period last year, the report said.

Mounting service charges and commissions contributed to the rising revenues, it said.

The bank's daily outstanding deposits on average in the first half stood at 1.965 trillion yuan, up 32.6 percent on the beginning of 2013, it said.

Industrial Bank, whose headquarters are in Fuzhou, Fujian province, was established in 1988 and listed on the Shanghai Stock Exchange in 2007.

Aviation

3-D printing adds wings to aircraft builders

On the C919, China's first domestically designed commercial aircraft, scientists used 3-D printing technologies to design the aircraft and are now exploring production techniques.

Industry sources said 3-D printing technology has found its way into the production of titanium alloy airframes, landing gear and engine parts, such as turbine blades and disks.

Transport

Railways carried more passengers in July

China's railways carried 196.34 million passengers in July, marking a 10.1 percent year-on-year rise spurred by the country's transport reform, the State-owned China Railway Corporation said.

The number of passengers in July was 10.4 percent, or 18.46 million, more than the previous month, the corporation said.

More than 259 million tons of cargo were transported via the country's railways, marking a year-on-year rise of 6.4 million tons, or 2.5 percent.

The increases in both passengers and cargo last month can be attributed to cargo transport reform, rising demand for coal, petroleum and grain, and the summer travel peak season, the corporation said.

Auto

Chery's Brazilian plant to begin operation

China's privately owned automaker Chery will open its new plant in Brazil this year, company sources said.

Chery Auto started to build the plant in the city of Jacarei in Sao Paulo state in 2011 with an investment of 2.45 billion yuan ($400 million).

Brazil has become one of the most important overseas markets for Chery since it first entered the country in 2009.

It has introduced several models to Brazil including QQ, Cielo and Tiggo, which won the country's title of SUV of the Year in 2010.

Chery has 80 dealers in the country, and the new plant will help reduce tax to make its products more competitive, the company said.

China Daily-Agencies

(China Daily Africa Weekly 08/16/2013 page18)