News in review

Monday____May 1

Manufacturing growth slows; momentum steady

China's manufacturing growth slowed in April as the government tightened supervision of financial risks, but still maintains momentum, according to analysts.

The Purchasing Managers' Index, which reflects the manufacturing sector's performance, registered 51.2 in April, slightly lower than 51.8 a month earlier, according to data from the National Bureau of Statistics. The figure remains above the year-ago index of 50.1.

A figure above 50 indicates growth in the sector, which is a key driver of the Chinese economy, while anything below points to contraction. The reading has kept above 50 for nine consecutive months.

Although the growth speed slowed a little compared with the previous two months, remaining above the 50 boom-or-bust point means that the sector has not lost its growth momentum and the economic fundamentals remain sound, according to Zhao Qinghe, a senior NBS statistician.

Car-hailing app adds bike-sharing service

Didi users will have direct access to ofo's bright yellow bikes in the app through fully connected services in registration, user authentication, deposit, ride payment, and customer support, according to a Didi press release.

Didi, China's leading car-hailing service, which claims more than 20 million daily orders, made a strategic investment in ofo, one of the country's top bike-sharing services, in September 2016.

The product linkup is a major step toward more extensive collaboration in shared mobility, according to the press release.

Tuesday____May 2

China Southern Airlines records Q1 profit decline

China Southern Airlines, the country's biggest carrier by passenger volume, said its net profit fell 42.44 percent year-on-year to $220 million (1.55 billion yuan) in the first quarter of 2017, attributing the loss to rising global fuel prices.

The company's business revenue rose 10.58 percent from the same period last year to 30.97 billion yuan in the first quarter, according to the report. Earnings per share stood at 0.16 yuan.

The Guangzhou-based state-owned operator announced in late March that American Airlines would spend $200 million to buy a stake in the company, which is pushing progress in its mixed-ownership reform. (Photo 1)

Fishing ban imposed earlier this year

An annual fishing ban has been introduced nationwide, weeks earlier than previous years for some regions, to better protect fisheries and the environment.

The previous deadline of June 1 was moved up mainly because the spawning season of most fish has begun earlier, owing to the decay of fishery resources and global warming, said Zhang Xianliang, director of the Ministry of Agriculture's Bureau of Fisheries. "A prolonged off-season will give the ocean more time to recover," he said.

The minimum duration of the fishing off-season in China, the world's largest country in terms of fish catch, and with the most fishing vessels and fishermen, will last three months this year. Fishing will be resumed in different regions depending on how the fry grow. For the first time, auxiliary vessels, which transport the catches and provide support for the fishing vessels, must obey the off-season as well to prevent covert fishing. (Photo 2)

Wednesday____May 3

New high-speed train is being developed

China is developing new high-speed trains with a maximum speed of 400 kilometers per hour with an eye on exporting them to countries taking part in the Belt and Road Initiative.

The trains will incorporate new materials such as carbon fiber and aluminum alloys to reduce weight and increase efficiency, said Qiao Feng, a senior engineer at the CRRC Changchun Railway Vehicles Co, a subsidiary of China Railway Rolling Stock Corp.

The new trains will be available in Belt and Road Initiative markets, and will be able to reduce per passenger energy consumption by 10 percent compared with high-speed trains that can run 350 km/h. The CRRC will be the manufacturer and exporter, according to Qiao.

The trains should be ready by 2020 to help build out the country's high-speed rail network, the world's largest.

Asthma sufferers don't manage their condition

Only about 28 percent of people in China with asthma have their condition under control, according to a study.

More than 26 percent of respondents reported being hospitalized in the past year and 22 percent had visited an emergency room due to an asthma attack, according to the study released on Tuesday, World Asthma Day. More than 3,000 asthma patients were surveyed between October 2015 and May 2016.

Asthma is a chronic inflammatory disease of the airways and is characterized by recurrent attacks of breathlessness and wheezing, which vary in severity and frequency from person to person.

Roughly 30 million people in China have asthma, according to estimates by the National Health and Family Planning Commission.

Thursday____May 4

Scientists make quantum leap in computing

Chinese scientists have built the world's first quantum computing machine that goes far beyond the early classical or conventional computers, paving the way to the ultimate realization of quantum computing.

The scientists announced their achievement at a press conference in the Shanghai Institute for Advanced Studies of University of Science and Technology of China.

Scientists believe quantum computing could in some ways dwarf the processing power of today's supercomputers. This could effectively solve large-scale computation problems that are beyond the ability of current classical computers, said Pan Jianwei, an academician of the Chinese Academy of Sciences and a leading quantum physicist.

One analogy to explain the concept of quantum computing is that it is like being able to read all the books in a library at the same time, whereas conventional computing is like having to read them one after another.

The photon computer is about 10 to 100 times faster than the world's first electronic and transistor computers, and 24,000 times faster than similar experiments on photon quantum computing, said Pan.

Toys 'R' Us plans to open more stores

International toy retailer Toys "R" Us Inc is expected to open at least 30 to 40 stores annually in China, mostly in major cities while reaching more customers with its online stores.

"China is our fastest-growing market with more store openings than anywhere else in the world," said Roy Sammartino, managing director of Toys "R" Us China.

Toys "R" Us had two online stores and 134 physical stores in 55 cities in China by the end of April. The retailer has 883 stores in the United States, Puerto Rico and Guam, and 795 international stores and 254 licensed stores in 37 countries and regions.

Sammartino said due to the special nature of its business, where consumers want to touch the products, there has to be a mix of online and offline business to provide customers with the easiest way to shop. (Photo 3)

Friday____April 28

Spending on education increased in 2016

China spent nearly $565.6 billion (3.9 trillion yuan) on education in 2016, an increase of 7.57 percent from 2015, according to preliminary statistics released by the Ministry of Education.

Spending on preschool education reached 280.2 billion yuan, up 15.48 percent from the previous year.

Investment in compulsory education totaled 1.76 trillion yuan, an increase of 9.76 percent year on year. Children in China are entitled to nine years of compulsory education.

Expenditure for high schools was 615.5 billion yuan, an increase of 6.75 percent from 2015, while the figure for higher education exceeded 1 trillion yuan, up 6.22 percent from the previous year.

Half of all new urban buildings to be 'green'

About half of China's new urban buildings will meet green construction standards by 2020, the country's construction watchdog said.

All new urban residential and public buildings should meet energy conservation requirements by 2020, with energy efficiency levels 20 percent higher than 2015, according to a development plan for the construction sector released by the Ministry of Housing and Urban-Rural Development.

About 40 percent of new urban construction projects should use environmentally friendly and energy-saving construction materials.

The output value of the construction industry is expected to grow 7 percent annually from 2016 to 2020, the plan says.

(China Daily USA 05/05/2017 page12)