Category: Manufacturing & Industry

10/31/17

Permalink 04:55:37 pm, by dacare, 277 words, 59 views   English (US)
Categories: News of China, Manufacturing & Industry

Factory output posts slowest rise in 4 months

China's manufacturing activity was stable last month but production increased at its slowest rate in four months, a report released yesterday showed.

The Caixin China General Manufacturing Purchase Managers' Index stood at 51 for October, the same as September, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.

A reading above 50 indicates expansion, while a reading below reflects contraction.

Sub-indices showed that new orders rose slightly faster, while output growth fell for the third straight month.

At the same time, companies continued to shed staff amid company-downsizing and efficiency-raising efforts, the report said.

The sub-indices for input costs and output prices both eased from the previous month but remained rather high.

"China's manufacturing sector expanded steadily in October," Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group said. "But the stringent production curbs imposed by the government to reduce pollution and relatively low inventory levels have added to cost pressures on companies in midstream and downstream industries, which could have a negative impact on production in the coming months."

Released yesterday, the official PMI in October fell to a three-month low of 51.6.

Divergence of the official data from Caixin data is common as the official manufacturing PMI survey covers 3,000 large and small companies, while the Caixin PMI covers 500, with a focus on small and medium sized businesses.

Wang Tao, chief China economist of UBS, said she expected October data to show softer activity with weaker industrial production and property investment, lower export growth, and largely stable overall fixed asset investment growth.

She said consumer inflation may be warmer last month but factory gate inflation was likely to be cooler.

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10/24/17

Permalink 04:48:38 pm, by dacare, 367 words, 74 views   English (US)
Categories: News of China, Manufacturing & Industry

Tesla eyes Chinese campuses as it continues hunt for top talent


The Tesla logo is pictured on Feb 5, 2014 in its first Chinese mainland show room in Beijing.

Tesla Inc is conducting a nationwide campus recruitment drive in China as part of its efforts to get better established in the world's largest new energy car market.

The United States-based electric carmaker has been conducting job fairs at four universities in Beijing, Shanghai, Guangzhou and Chengdu to recruit forthcoming graduates to work in about a dozen tier-1 and-2 cities in the country.

"We conducted campus recruitment just as we did last year, with a focus on finding potential recruits for sales, service, IT and intern positions. We have not determined how many people will be hired yet," said Tesla in a statement. The Tesla job fairs run until this Friday.

There are eight posts available for new graduates, according to Tesla's page on popular recruitment website 51job. In total, Tesla is hiring people for 79 posts for its business in China.

It has 32 experience centers and eight service stores in the country but did not disclose the number of current employees.

This campus recruitment drive is unlikely to have any direct connection with Tesla's localization efforts, as most jobs available are sales and service-related instead of engineering and production.

Tesla had confirmed earlier that it was in talks with the Shanghai city government to establish a manufacturing facility.

The company has been growing steadily in China, with its revenue more than tripling from 2015 to 2016. It delivered 13,500 cars in the first nine months of 2017, more than double from a year earlier, according to statistics from the China Passenger Car Association.

The company is now looking to build on its current success in China, home to about 1 million new energy cars by the end of 2016.

On Monday, the carmaker unveiled in Shanghai its largest charging station in the world, which can accommodate 50 Tesla cars at the same time.

To date, Tesla has 700 charging posts in 170 cities in the country, with the number expected to rise to 1,000 by the end of the year.

Earlier this month, Tesla announced that it has modified the charging hardware for Tesla vehicles built for the Chinese market so that they can make use of the public charging infrastructure.

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10/11/17

Permalink 05:09:51 pm, by dacare, 318 words, 103 views   English (US)
Categories: Manufacturing & Industry

China makes better-than-expected progress in overcapacity cuts

China has made better-than-expected progress in cutting overcapacity in the steel and coal sectors amid steadfast government efforts to push economic restructuring.

In Hebei Province, where the task in cutting overcapacity is tough, 15.72 million tons of steel production capacity and 14.08 million tonnes of iron were cut in the first half of this year, progressing faster than the same period last year, according to local authorities.

China's steel industry has long been plagued by overcapacity. The government aims to slash steel production capacity by around 50 million tonnes this year.

Nationwide, 85 percent of the target for excess steel capacity had been met by the end of May, through phasing out substandard steel bars and zombie companies, with Guangdong, Sichuan and Yunnan provinces already meeting the annual target, data from the National Development and Reform Commission (NDRC) showed.

About 128 million tons of backward coal production capacity was forced out of the market by the end of July, reaching 85 percent of the annual target, with seven provincial-level regions exceeding the annual target.

As a large number of zombie companies withdrew from the market, companies in the steel and coal sectors have improved their business performance and market expectations.

Lifted by improved demand and lower supply due to government policies to cut steel overcapacity and enhance environmental protection, steel prices continued to pick up, with the domestic steel price index gaining 7.9 points from July to 112.77 in August, and increasing 37.51 points from a year earlier, according to China Iron and Steel Association (CISA).

"It is unprecedented, showing that overcapacity cuts have prompted the healthy and sustainable development of the sector and improved business conditions of steel companies," said Jin Wei, head of CISA.

Companies in the coal sector also gained profits. In the first half, the country's large coal companies registered total profits of 147.48 billion yuan (about 22.4 billion U.S. dollars), 140.31 billion yuan more than the same period last year, according to the NDRC.

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03/14/17

Permalink 02:33:55 pm, by dacare, 183 words, 280 views   English (US)
Categories: News of China, Manufacturing & Industry

Lincoln to make SUV in China with Chang'an Auto Group

Lincoln, the luxury unit of Ford Motor Co, said on Monday that it plans to build a luxury sport utility vehicle in China in partnership with the Chang'an Automobile Group.

The as-yet unnamed vehicle will be built at a plant in the city of Chongqing. It is scheduled to go on sale in late 2019 only in China, the world's largest auto market, according to Lincoln spokesman Said Deep.

Building in China will help Lincoln meet growing customer demand and enable the company to become more responsive to changing customer preferences, Deep wrote in an email. "As Lincoln grows in China it makes sense to produce this new SUV in China," he added.

Lincoln exports its vehicles from North America to China, and reported sales of 32,558 in 2016, three times more than it sold in 2015.

Ford and its joint venture partners sold a record 1.27 million vehicles in China last year. Lincoln isn't the only US luxury brand taking aim at China. General Motors said its Cadillac volume in China rose 46 percent in 2016 to 116,406 , the first time it passed 100,000 vehicles in China in a single year.

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01/17/17

Permalink 04:15:18 pm, by dacare, 129 words, 337 views   English (US)
Categories: News of China, Manufacturing & Industry

Volkswagen to provide 400,000 new energy cars for Chinese market by 2020

German automaker Volkswagen plans to provide more than 400,000 new energy cars for the Chinese market by 2020, according to Professor Jochem Heizmann, CEO of Volkswagen Group China, Monday.

According to the plan, the number will increase to 1.5 million by 2025.

The company announced earlier that it would introduce 15 models of new energy vehicles in China in the next three or four years, to address the environmental protection needs of the Chinese market, as well as 10 models worldwide in the next decade.

New energy vehicles sales of the company are expected to reach 2 million to 3 million in 2025, 20 to 25 percent of its total sales.

China is Volkswagen's largest market. Volkswagen Group China and its two joint ventures delivered 3.98 million automobiles to the Chinese mainland and Hong Kong in 2016, up 12.2 percent year on year.

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12/02/16

Permalink 01:25:55 pm, by dacare, 348 words, 340 views   English (US)
Categories: News of China, Manufacturing & Industry

Manufacturing PMI hits a two-year high

China's manufacturing purchasing managers index continued rising in November to the highest level in two years, which indicates the country's economic performance is gradually improving, new data showed on Thursday.

The PMI stood at 51.7 in November, up from 51.2 in October, according to the National Bureau of Statistics.

This is the fourth consecutive month that the manufacturing PMI, a key gauge that monitors the activity of large and medium-sized enterprises in the manufacturing sector, stayed above the 50-point mark that distinguishes expansion from contraction in the sector.

Among the five major subindexes, production and new orders stayed in the expansionary range. In November, the production subindex increased to 53.9 from October's 53.3, while the new orders subindex increased to 53.2 from October's 52.8. Both were at the highest level so far this year.

Zhao Qinghe, senior statistician of the NBS, said that production and market demand both rebounded in November, and enterprises showed stronger desire to purchase.

Zhao said the increased costs of raw materials and transportation, which have reached the highest level in three years, are a major challenge for enterprises.

"Fluctuations of the RMB exchange rate have resulted in the increased cost of imported raw materials, which has a significant impact on electronic equipment manufacturing industries such as computers and telecommunication," Zhao added.

The Caixin/Markit Manufacturing PMI, which mainly monitors the market performance of small and medium-sized enterprises, was at 50.9 in November. Although the index stayed in the expansionary range, it declined from 51.2 in October, which shows a slowing expansion pace in the manufacturing sector.

"Caixin/Markit Index readings for both output and new orders declined, but those tracking input and output prices rose at a faster pace to hit their highest levels in five years, pointing to further intensification of inflationary pressure", said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin Insight Group.

"The November PMI indicates that China's domestic economic operation is stable and the positive effect of supply side structural reform is gradually appearing," said Zhang Yiping, an economist with China Merchants Securities. "The quality of China's economic growth is gradually improving."

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