GreenergyDaily
Jul. 12, 2024
1. China has expressed its willingness to enhance the implementation of development strategies with Saudi Arabia and to increase trade and investment exchanges. Wang Wentao, China's Commerce Minister, shared this during talks held on Thursday with the head of affairs on Saudi Arabia's economic cooperation with China. The latter also serves as the president of the Saudi sovereign wealth fund Public Investment Fund and chairman of Saudi Aramco.
2. Shares of China National Nuclear Power dropped after the country's major nuclear power developer said it will secure CNY12 billion (USD1.7 billion) from the National Council for Social Security Fund via a private placement of shares at a discount of nearly 26%. CNNP dropped 2.6% to CNY11.16 (USD1.54) a share as of lunch break in Shanghai today.
3. China's yuan-denominated exports to Russia grew 4.76% in June from a year earlier, faster than the 0.92% pace in May, but still much slower than double-digit export growth at the beginning of the year, customs data showed on Friday. China's outbound shipments to Russia fell in March and April before swinging back to growth in May.
4. A 130-MW solar power project is under construction on mountains in Ya'an City, southwest China's Sichuan Province, poised to enhance local development.
5.OPEC projects a healthy global oil demand growth of 2.2 million barrels per day (bpd) for 2024, followed by a robust growth of 1.8 million bpd in 2025, consistent with the forecasts a month ago, OPEC announced Wednesday in its monthly oil market report for July.
6. Effective from Thursday, China will continue to levy anti-dumping duties on optical fiber preforms imported from Japan and the US for 5 years, the Ministry of Commerce announced on Wednesday.
7. China's new energy vehicle production and sales are both expected to reach 11.5 million units for the whole year of 2024, Fu Bingfeng, secretary-general of the China Association of Automobile Manufacturers, said today. Fu mentioned the forecast at the 14th China Automotive Forum today, saying that China has become the main battleground for global competition in NEVs, according to local media outlet Cailian.
8. Chinese automakers are continuing to expand their share of the domestic market and are poised to become a dominant force in the international marketplace, said AlixPartners, a New York-based consulting firm. Chinese brands are set to keep the throne at home and take over 70% of China's market share by 2030, AlixPartners said in a July 11 report.
9. Ying Yang, Jun Lu, and colleagues report on smart temperature-responsive materials that transition rapidly from thermal transmission to isolation during thermal runaway in battery modules, thus ensuring battery safety.
10. JAC Motor's first vehicle model in collaboration with Huawei will be released in the first half of next year, Chairman Xiang Xingchu said at a forum today. The Hefei-based firm's smart plant, with an annual production of 200,000 units, is close to becoming operational, he added.
