The Sunday Mail
Manyika Kangai
China Issues White Paper on Taiwan
China has released a white paper to expound on the position and policies of the Communist Party of China (CPC) and the Chinese government on Taiwan. The white paper, titled “The Taiwan Question and China’s Reunification in the New Era,” is the third one on the Taiwan question in the history of the People’s Republic of China. The first two were issued in August 1993 and February 2000. The white paper reiterates China’s position on Taiwan stating, “We are one China, and Taiwan is part of China. This is an indisputable fact supported by history and the law. Taiwan has never been a state; its status as part of China is unalterable.”
China’s Latest CPI, PPI, Foreign Currency Reserves
China’s Consumer Price Index (CPI), a main gauge of inflation, rose 2,7 percent year-on-year in July, according to data released by the National Bureau of Statistics (NBS) on Wednesday. On a monthly basis, the CPI inched up 0,5 percent due to rising pork and fresh vegetable prices. China’s Producer Price Index (PPI), which measures cost of goods at the factory gate, went up 4,2 percent year-on-year in July. The figure moderated from the 6,1 percent year-on-year increase registered in June. On a monthly basis, China’s PPI fell 1,3 percent. China’s foreign exchange reserves climbed to US$3,1 trillion by the end of July, up US$32,8 billion dollars from June, according to data from the State Administration of Foreign Exchange.
China’s Sinopec Discovers Abundant Oil Reserves in Xinjiang
China Petrochemical Corporation, or Sinopec, China’s largest oil refiner, has discovered abundant flows of natural gas and crude oil at Shunbei oil and gas field in the Tarim Basin of Northwest China’s Xinjiang Uygur Autonomous Region. Sinopec said its northwest branch that is responsible for the Shunbei oilfield has ascertained reserves of 1,7 billion metric tons of crude oil and 94,6 billion cubic metres of natural gas so far, with a total output of more than 140 million tons of oil and gas equivalents. Located in the central and western regions of the Tarim Basin, the project, also called Shendi-1, has an average reservoir burial depth of more than 7,300 metres and is one of the world’s deepest onshore commercial oil and gas fields.
China’s Baidu to Operate Driverless Taxis
Chinese tech giant Baidu obtained permission to operate fully driverless taxis commercially on public roads in the cities of Wuhan and Chongqing. Baidu will offer the commercial robotaxi service – with no driver present – in some areas of the two cities via the company’s autonomous ride-hailing platform Apollo Go. Baidu said it would implement redundant monitoring and parallel driving to ensure passengers’ safety. Baidu has launched a pilot service on Apollo Go in various Chinese cities such as Beijing, Shanghai, Guangzhou and Shenzhen.
China Builds First Rare Earth Maglev Line
China completed the construction of the country’s first independently developed trial line using rare earth Permanent Magnetic Levitation (PML) technology. Dubbed “Rainbow,” the maglev line that is about 800 metres long was built in east China’s Jiangxi Province and jointly developed by the Jiangxi University of Science and Technology, China Railway Liuyuan Group (CRL Group), China Railway Hi-Tech Industry Co., Ltd., and China National Rare Earth Functional Material Innovation Centre. With a designed maximum speed of 80 kilometres per hour, the rail system can serve a two-carriage maglev train with a carrying capacity of 88 people. The transit system is equipped with the BeiDou Navigation Satellite System, 5G and intelligent sensing technologies and is a cost-effective rail transit mode, which has broad application scenarios such as at scenic spots, airport terminal connections, business centres and small towns. The track with rare earth PML technology can keep trains in a state of suspension, which is energy-saving and environmentally friendly.
*Manyika Kangai helps African businesses realise the full potential of the vast opportunities China presents. He has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. Feedback: +27743487997/ www.muvambi-sa.co.za
