Month: April 2019
Zhonghao Overseas Construction Engineering Co, a Beijing-based private company established in 2001, has been drill
ing wells in countries involved in the Belt and Road Initiative, including in Algeria, Ghana, Kenya, Nigeria and Uganda.
Tian Chao, president of the company, said those projects have provid
ed jobs for local people, solved their water problems and helped balance foreign exchange.
“The projects are platforms for more influential good things that we can do for those countries,” he said.
The company said it has drilled about 10,000 wells in 275 projects in those countries, with a total c
ontract value of $510 million. The wells ensure that more than 20 million African people can drink clean water, Tian said.
At present, the company employs around 200 Chinese in Africa, with an average age of 30. The company has been inve
sting in projects that are beneficial to local communities in Africa, with the help of Beijing’s Foreign Affairs Office.
spectacular 41st minute free kick, but Borja Baston equalized four minutes later in a game in which both teams looked flat in their third game in seven days.
Leganes and Celta Vigo drew 0-0, which draws Celta a point closer to
survival and means they remain unbeaten since Iago Aspas returned to the side after injury.
In overseas ventures, insurance gives firms a sure footing
Overseas investment inevitably means risks and uncertainties for Chinese comp
anies, but many have started using insurance services to help control and reduce risks.
“Chinese companies face new situations while investing overseas, namely that global politi
cs and economics have become more complex,” said Wang Tingke, general manager of China Export and Cr
edit Insurance Corporation, or Sinosure, China’s State-funded policy-oriented insurance company.
“So while going abroad, Chinese companies need to i
ncrease their awareness of risks and set up comprehensive risk management systems.”
of travel plan changes, as many choose new destinations a short or medi
um distance away instead of suburban trips, said Feng Rao, data research center mana
ger of Mafengwo, a major online travel service provider and tourist information-sharing platform in China.
Travel plans to Sanya, Luoyang and Enshi, three Chinese tourist cities, grew most rapidly — by 15.4
%, 13.6% and 11.6% respectively — due to the extended holiday, according to a report from Mafengwo.
With a new railway operating plan put into use from April 10 offeri
ng more high-speed train routes, high-speed train trips are easier and more convenient.
Take Luoyang in Henan province as an example. People living in Suzhou, Xuzhou an
d Jiaozuo, places where travel time to Luoyang by high-speed train is five hours or less, have turned their eyes to the city.
les to customers in the second quarter, where it predicted that an estima
ted loss would be “significantly” less than the $702 million lost in the first quarter.
The company delivered about 63,000 vehicles in the first quarter.
The gross profit margin on the Model 3 – a focus for investors – remained steady at 20 percent.
Tesla also announced it would start offering its own ins
urance product in about a month to better reflect the safety of its vehicles.
Tesla reported net loss attributable to common shareholders of $702.1 million, or $4.10 p
er share, in the first quarter ended March 31, compared with a loss of $709.6 million, or $4.19 per share, a year earlier.
Excluding some items, Tesla lost $1.77 per share, compared with
Wall Street expectations of a loss of 69 cents, according to data from Refinitiv.
gions are facing severe lack of water, the institute said. In the meantime, urbanization has increased the amount of waste
water by 4.2 percent annually, from 48.5 billion metric tons in 2013 to 57.1 billion tons in 2017, it said.
China lags behind leading economies in water-use efficien
cy, said Yuan Da, the NDRC spokesman. Every 10,000 yuan in indu
strial added value consumes 45.6 cu m of water, double that for developed economies, he said.
Water conservation should be promoted from developing, using an
d protecting the natural resource with careful all
ocation, said E Jingping, minister of water resources, in an article published by People’s D
aily late last month. Projects that do not pass water conservation assessments will not be approved, he said.