Strengthening economical ties with Saudi Arabia
Baoshan Iron and Steel Co., Ltd. (宝山钢铁股份有限公司), 1 of the largest steel holding companies in China as well as worldwide, signed a joint venture agreement (JV) to build the first steel mill abroad, in Saudi Arabia. Saudi partners in this venture are Saudi Arabian National Oil corp (“Saudi Aramco”) and Saudi Public Investment Fund. Each of these companies will cover 25% of the steel mill shares. In accordance with the agreement signed by the parties in Saudi Arabia by 2026, the world's first "green" and low-carbon, automated steeling specialising in the production of steel plates of unstandard thickness will be created.
Chinese investments in Saudi Arabia.
Saudi Aramco has so far invested in 2 oil refineries in China (one to the north and the another to the south).
Source:
LNG from Qatar for Sinopec
Sinopec, or China Petrochemical corp (中国石油化工集团公司) buys out 1,25% of the world's largest natural gas deposit (LNG) from Qatar Energy.
In November 2022, Sinopec and Qatar Energy Company signed a 27-year contract to acquisition LNG. On the basis of this agreement, Qatar Energy is obliged to deliver 4 million tonnes of LNG per year to China. This is another example of China's diversification of energy sources (suppliers).
Source: BP Statistical Review of planet Energy 2022
Source:
Nuclear
Last year the Chinese government approved the construction of 10 fresh atomic reactors in existing power plants, as well as the construction of 3 fresh atomic plants. This is the biggest increase in the number of specified projects since 2008. At present, 24 reactors are being built in China with a full capacity of 26.81 million kWh in working gyms and six fresh atomic power plants. As expected, China will outrun the United States in terms of atomic power production before 2030. They will thus become the world's largest atomic power plant operator. But this will not fundamentally change the situation (due to the rapidly increasing request for energy): atomic energy in the Chinese energy mix will be a margin for decades. This can show how large the scale of Chinese energy, its needs and its growth dynamics are in the next fewer decades.
Source: https://www.oxfordenergy.org
Source: https://www.researchgate.net
Source:
Financial Centres
For the 33rd time, the British consulting company Z/Yen Group in cooperation with China (Shenzhen) Comprehensive improvement investigation Institute (中国(深圳)综合开发研究院) presented the latest Global Financial Centres Index (GFCI).
The GFCI includes a ranking of 120 financial centers worldwide. The index is updated and published annually in March and September. It is based on a survey of 153 factors for which data are obtained through their own investigation and provided by 3rd parties, including the planet Bank, the Economist Intelligence Unit, OECD, or various United Nations agendas.
This year HongKong was placed as a financial center of global importance on the 4th place after fresh York City, London and Singapore. The seventh place was Shanghai. too the first ten, Beijing and Shenzhen fell.
Source:
Digital economy is growing
In 2022, the value of the Chinese digital economy was valued at 50,2 trillion RMB (about PLN 30,2), which allowed it to take second place in the world. And it presently accounts for 41.5% of Chinese GDP. The digital economy has become an highly crucial driver of unchangeable growth and transformation for China. At the end of December 2022, China had, for example, 2,312 million 5G network base stations, which accounted for 561 million users. That's over 60% of all smartphone holders.
Source:
http://www.news.cn/fortunate/2023-04/27/c_1129574824.htm
Table prices almost unchanged
At the monthly online licence plate auction in April in Shanghai, the lowest quoted price for ‘plates’ amounted to 90 400 RMB (approx. 55 127 PLN). The average quoted price in April is 90 494 RMB (approx. 55 262 PLN), which means an increase of 0.4% compared to March. Shanghai City Department of Communications offered 14 410 plates in April. 144 210 people attended the auction.
Litigation is simply a common method in large Chinese cities to award licence plates. It aims to reduce the increase in the number of vehicles in a city suffering from an excessive number of all kinds of single and multi-tracks that contribute, among others, to the continuous regular “corking” of streets, highways, estakads.
Shanghai offers a solution for the impatient and frugal. The authorities decided to extend until the end of this year the anticipation of obtaining a free registration plate for electrical cars. Will this regulation be maintained next year – it is unknown. The decision needs reflection.
With this simple solution, Shanghai has seen a strong increase in the sales of electrical cars for years, which fosters green transformation.
Source:
Millionaires hold on tight
According to the latest study by Henley & Partners (investment migration advisory) at HangZhou, (the capital of Zhejiang 浙江 province) over the last 10 years (2012-2022) the number of people with assets to invest over USD 1 million (about PLN 4.2 million) increased by 105%. These include persons who, in addition to real property (houses, houses, offices) moveables specified as cars or works of art, have assets in securities and cash that they can devote in a short time to any kind of investment. HangZhou took first place in China in this category. The second place was ShenZhen (GuangDong 广东 province) with an increase of 98% and the 3rd with GuangZhou/Kanton (GunagDong state capital) with an increase of 86% (seventh place globally). In the top 10 there is no city in the European Union.
In another category, cities with the largest population – millionaires in the top 10 included 3 Chinese cities:
- HongKong (129,500 millionaires), seventh place
- Beijing (128 200 millionaires), eighth place
- Shanghai (127,200 millionaires), ninth place.
The first place in years has been fresh York (340.000 millionaires), the second Tokyo (290 300 millionaires). San Francisco's 3rd “jumped” where there are 285 1000 millionaires.
Source:
Car marketplace – national brands top
Last year 11.76 million home car brands were sold in China. This is an increase of 22.8% y/y.
Local brands gradually begin to dominate the Chinese market. At the end of December 2022 they had a 49.9% marketplace share (growth by 5.4%). According to the Ministry of manufacture and Information Technology (工业和信息化部), the national car brands of the fresh NEV including electrical EV are peculiarly well suited. In 2022 they were sold over 6.88 million (an increase of 93.4%) y/y, and marketplace shares of these vehicles increased to 25.6%. In 2021 it was 12.1%.
In addition, the exports of Chinese cars show good results. Last year Chinese producers exported 2.53 million cars, an increase of 56.7% y/y.
Source:
Debt China abroad
According to the data of the National abroad Exchange Administration (国家外汇管理局), at the end of 2022 China's abroad debt amounted to USD 2.452 trillion (about PLN 10.54 trillion), which means that it decreased by 10.7% compared to the end of 2021.
Many factors have influenced the simplification of debt, specified as the emergence in US Fed interest rates, advanced global inflation. With respect to external debt hazard at the end of 2022, the liability ratio (debt-to-GDP ratio) was 13.6%, the debt service ratio (debt-to-trade export income ratio) was 10.5%, and the ratio of short-term debt to abroad exchange reserves was 42.8%. All above indicators are below the internationally recognised safety line (20%, 20% and 100% respectively). Thus, China’s external debt level does not presently entail major risks.
Source:
http://static.nfapp.southcn.com
Author: 梁安基 Andrzej Z. Liang, 上海 Shanghai, 中国 China
Email: [email protected]
Editorial: Leszek B.
Email: [email protected]
© China: Facts, Events, Opinions – www.chiny24.com
![Święto Służby Więziennej w Katowicach. Wyróżnienia i awanse dla funkcjonariuszy [Zdjęcia]](https://www.wkatowicach.eu/assets/pics/aktualnosci/2025-07/_TK_0288.jpg)
