Weekly snapshot of China's local business news

Source: Xinhua| 2019-06-08 21:16:04|Editor: Li Xia
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BEIJING, June 8 (Xinhua) -- The following are highlights of China's key local business news from the past week.

-- HUAWEI 5G CONTRACTS

Chinese telecom giant Huawei Technologies Co. Ltd. said Thursday that it had obtained 46 commercial 5G contracts so far in 30 countries globally.

It has shipped more than 100,000 5G base stations, ranking top in the world, Huawei said, adding that it was well prepared for China's 5G commercial use.

China's Ministry of Industry and Information Technology granted commercial-use 5G licenses Thursday to China Broadcasting Network and the country's top three telecom operators -- China Telecom, China Mobile and China Unicom.

-- PETROCHINA EXPANSION PROJECT

PetroChina, China's largest oil and gas producer, has started full operation of an oil refining expansion project that doubles its annual processing capacity to 10 million tonnes.

The PetroChina North China Petrochemical Company in the city of Renqiu, Hebei Province, is now able to produce eight million tonnes of high-end diesel, gasoline and aviation kerosene annually.

This upgrading and expansion project, listed in the national energy development plan, involved a total investment of more than 31 billion yuan (4.48 billion U.S. dollars) and took 23 months to complete.

-- SHANGHAI MEGA HYDROGEN STATION

Shanghai unveiled a mega hydrogen station that can charge a car within only three minutes and is able to power hundreds of vehicles per day.

The 8,000-square-meter station can supply over 2 tonnes of hydrogen each day. It is located at an industrial park in Shanghai which supplies part of the hydrogen in the station.

The mega-station also supplies hydrogen to other smaller stations in a radius of around 50 km to 100 km.

-- NEW ENERGY IN COAL-RICH SHANXI

China's major coal-rich province of Shanxi has stepped up the development of new energy in a bid to power its economy with more clean energy.

The total installed wind and solar power generating capacities in the northern province had reached 20.05 GW by the end of May, up 28.5 percent year on year.

The total power generating capacity in the country's long-time largest coal producing area had reached 86.87 GW by May, with that of wind power reaching 10.9 GW and that of solar power hitting 9.15 GW.

-- BUSIER INT'L RAIL FREIGHT IN CHENGDU

The southwestern Chinese city of Chengdu saw busier international rail freight transport in the January-May period of this year, as demand for both imports and exports increased.

Chengdu, capital of Sichuan Province, saw the departures and arrivals of 1,041 international freight trains in the five-month period, up 41.2 percent year on year.

The value of the goods transported by the trains in the five months soared 65 percent year on year to 2.48 billion U.S. dollars.

-- BYD BATTERY GIGAFACTORY

China's new energy vehicle manufacturer BYD's battery gigafactory project settled in the southern Chinese city of Guangzhou.

The gigafactory will focus on the research and development, production and manufacturing of lithium polymer batteries for electric devices such as mobile phones, laptops and computers.

The new factory, with a total investment of 4 billion yuan, will realize an annual output of 13 billion yuan after it goes into operation in 2020.

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