China Economy - News & Updates
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Great Wall Motor 
Great Wall Motor Company Limited (simplified Chinese: 长城汽车; traditional Chinese: 長城汽車; pinyin: Cháng Chéng Qì Chē
(SEHK: 2333), sometimes abbreviated as GWM or GW, is the largest privately owned automotive manufacturer in China.
The Great Wall Motor Company is the first privately owned auto company of China listed on the Hong Kong stock market and has obtained HK$1.7 billion of financial investment. After more than 10 years of rapid growth, GWM has accumulated enormous economic capacity, becoming the number one taxpayer consecutively for three years in the City of Baoding. It is among the Top 500 Enterprises of China in 2004" and one of the best brands in national automobile industry. GWM took its first step to become a truly global company by exporting CUVs to the competitive European market in September 2006. GWM already sells cars in about 60 (mostly developing) countries and exports account for about a third of the company's sales.
Models
Great Wall Sailor CC1027
Great Wall Motor specializes in large size vehicle models, ranging from CUVs through SUVs to full-sized Pick-ups.
CUV
* Great Wall Hover
SUV
* Great Wall Safe
* Great Wall Sing
* Great Wall Pegasus
Pick-up
* Great Wall Wingle
* Great Wall Sailor
* Great Wall Socool
* Great Wall Deer
City car
* Great Wall Coolbear
* Great Wall Florid
* Great Wall Peri
Compact MPV
* Great Wall Cowry
Manufacturing locations
Great Wall Motor main manufacturing location is in Baoding, China. The total area of the facility is 1,800,000.00m2 and can currently produce up to 300,000 units per year. In 2007 the total production capacity is to reach 400,000 units per year.
On 23 August 2007 in Ukraine opened a new manufacturing facility on KrASZ.
It is believed that Great Wall Motor will open an overseas manufacturing location. As of September 2006, it is believed that GWM has some near-future plans on opening a new manufacturing facility in Tatarstan, Russia, in a special economic zone.
The Iran motor company Diar also produce Great Wall models under license in Iran.
On April 9, 2009 Great Wall Motor and the Bulgarian company "Litex Motors" signed a contract for building a plant that would manufacture Great Wall Hover, Great Wall Wingle and Great Wall Florid in Lovech, Bulgaria. The investment is for 80 million euros and 1,500 new jobs would be created. The new plant in Bulgaria would be open in October 2010 and would be used to assist entering the EU market by Great Wall Motor.
Sales outside China
The Great Wall Hover was the first Chinese car to be mass exported to Western Europe in 2006, when 30,000 units where shipped to Italy. Apart from selling cars in Western Europe, Great Wall Motor has had sales in 108 countries throughout the world.
In May 2006, 660 Great Wall Deer pick-ups arrived in Cuba, as replacements for the older ZIL 130 and 131, GAZ, KAMAZ as well as other old trucks and vehicles in Havana´s Electric Company . The ceremony included a special Hover as a gift to Fidel Castro.
Great Wall Motor also entered the Peruvian market in 2006, and sells both the Great Wall Safe and the Great Wall Hover in "Zona Motors" stores throughout Lima.
Other countries that Great Wall Motors currently exports to include:
* Australia
* Belarus
* Bosnia & Herzegovina
* Brazil
* Chile - Since January 24, 2007 with the Hover. Added Safe and Deer in July, 2007.
* Costa Rica
* Italy
* Kazakhstan - since October 2005 with Hover, Safe, Deer, So Cool. Added Wingle, Sailor and Hover Pi (since July 2007)
* Romania - model sold are : Hover Pi , Hover CUV and Hover Steed , for the CUV the prices range from 10.600 Euro to 15.350 Euro with all options included .
* Russia
* Saudi Arabia
* South Africa
* Ukraine
* Venezuela
Great Wall Motor Company Limited (simplified Chinese: 长城汽车; traditional Chinese: 長城汽車; pinyin: Cháng Chéng Qì Chē
(SEHK: 2333), sometimes abbreviated as GWM or GW, is the largest privately owned automotive manufacturer in China.The Great Wall Motor Company is the first privately owned auto company of China listed on the Hong Kong stock market and has obtained HK$1.7 billion of financial investment. After more than 10 years of rapid growth, GWM has accumulated enormous economic capacity, becoming the number one taxpayer consecutively for three years in the City of Baoding. It is among the Top 500 Enterprises of China in 2004" and one of the best brands in national automobile industry. GWM took its first step to become a truly global company by exporting CUVs to the competitive European market in September 2006. GWM already sells cars in about 60 (mostly developing) countries and exports account for about a third of the company's sales.
Models
Great Wall Sailor CC1027
Great Wall Motor specializes in large size vehicle models, ranging from CUVs through SUVs to full-sized Pick-ups.
CUV
* Great Wall Hover
SUV
* Great Wall Safe
* Great Wall Sing
* Great Wall Pegasus
Pick-up
* Great Wall Wingle
* Great Wall Sailor
* Great Wall Socool
* Great Wall Deer
City car
* Great Wall Coolbear
* Great Wall Florid
* Great Wall Peri
Compact MPV
* Great Wall Cowry
Manufacturing locations
Great Wall Motor main manufacturing location is in Baoding, China. The total area of the facility is 1,800,000.00m2 and can currently produce up to 300,000 units per year. In 2007 the total production capacity is to reach 400,000 units per year.
On 23 August 2007 in Ukraine opened a new manufacturing facility on KrASZ.
It is believed that Great Wall Motor will open an overseas manufacturing location. As of September 2006, it is believed that GWM has some near-future plans on opening a new manufacturing facility in Tatarstan, Russia, in a special economic zone.
The Iran motor company Diar also produce Great Wall models under license in Iran.
On April 9, 2009 Great Wall Motor and the Bulgarian company "Litex Motors" signed a contract for building a plant that would manufacture Great Wall Hover, Great Wall Wingle and Great Wall Florid in Lovech, Bulgaria. The investment is for 80 million euros and 1,500 new jobs would be created. The new plant in Bulgaria would be open in October 2010 and would be used to assist entering the EU market by Great Wall Motor.
Sales outside China
The Great Wall Hover was the first Chinese car to be mass exported to Western Europe in 2006, when 30,000 units where shipped to Italy. Apart from selling cars in Western Europe, Great Wall Motor has had sales in 108 countries throughout the world.
In May 2006, 660 Great Wall Deer pick-ups arrived in Cuba, as replacements for the older ZIL 130 and 131, GAZ, KAMAZ as well as other old trucks and vehicles in Havana´s Electric Company . The ceremony included a special Hover as a gift to Fidel Castro.
Great Wall Motor also entered the Peruvian market in 2006, and sells both the Great Wall Safe and the Great Wall Hover in "Zona Motors" stores throughout Lima.
Other countries that Great Wall Motors currently exports to include:
* Australia
* Belarus
* Bosnia & Herzegovina
* Brazil
* Chile - Since January 24, 2007 with the Hover. Added Safe and Deer in July, 2007.
* Costa Rica
* Italy
* Kazakhstan - since October 2005 with Hover, Safe, Deer, So Cool. Added Wingle, Sailor and Hover Pi (since July 2007)
* Romania - model sold are : Hover Pi , Hover CUV and Hover Steed , for the CUV the prices range from 10.600 Euro to 15.350 Euro with all options included .
* Russia
* Saudi Arabia
* South Africa
* Ukraine
* Venezuela
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Here is your dream car.
Just click on the links to download.
http://www.gwm.com.cn/eng/html/news/spec/sh2009.pdf
http://www.gwm.com.cn/eng/html/news/spec/rally08.pdf
Just click on the links to download.
http://www.gwm.com.cn/eng/html/news/spec/sh2009.pdf
http://www.gwm.com.cn/eng/html/news/spec/rally08.pdf
aimarraul
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Officials gauged by more than economic achievement
By Lan Tian (China Daily)
Updated: 2009-07-01 07:27
Officials will be evaluated on more than just their financial performance, a Party spokesperson said Tuesday.
In a bid to update its economic-orientated focus when reviewing the work of officials, environmental and social development efforts will also be measured, said Li Zhongjie, deputy director of the Party History Research Office under the Communist Party of China (CPC) Central Committee.
"Apart from economic development, the evaluation will focus on various aspects of officials' performance, such as their achievements on environmental protection and on coordinating the development of the economy and society," Li said.
Officials' contribution to maintaining social stability and to improving people's livelihoods will also be looked at, he said.
Top officials called for the changes at Monday's meeting of the CPC Central Committee Political Bureau, which was presided over by Hu Jintao, general-secretary of the CPC Central Committee.
Details of the updated system will be released soon.
For some time, and especially since the reforms and opening-up in the late 1970s, officials' contribution to economic development - and to the GDP growth rate in particular - was the main yardstick by which they were evaluated, said Wang Yukai, a professor with China National School of Administration, in an interview with Shanghai-based newspaper China Business News Tuesday.
"Officials' promotion was closely linked to GDP growth under the old appraisal pattern, which led to vanity projects, drained resources and damaged the environment," he said.
By Lan Tian (China Daily)
Updated: 2009-07-01 07:27
Officials will be evaluated on more than just their financial performance, a Party spokesperson said Tuesday.
In a bid to update its economic-orientated focus when reviewing the work of officials, environmental and social development efforts will also be measured, said Li Zhongjie, deputy director of the Party History Research Office under the Communist Party of China (CPC) Central Committee.
"Apart from economic development, the evaluation will focus on various aspects of officials' performance, such as their achievements on environmental protection and on coordinating the development of the economy and society," Li said.
Officials' contribution to maintaining social stability and to improving people's livelihoods will also be looked at, he said.
Top officials called for the changes at Monday's meeting of the CPC Central Committee Political Bureau, which was presided over by Hu Jintao, general-secretary of the CPC Central Committee.
Details of the updated system will be released soon.
For some time, and especially since the reforms and opening-up in the late 1970s, officials' contribution to economic development - and to the GDP growth rate in particular - was the main yardstick by which they were evaluated, said Wang Yukai, a professor with China National School of Administration, in an interview with Shanghai-based newspaper China Business News Tuesday.
"Officials' promotion was closely linked to GDP growth under the old appraisal pattern, which led to vanity projects, drained resources and damaged the environment," he said.
aimarraul
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Britain's BP, Chinese oil firm win Iraq deals
(Agencies)
Updated: 2009-07-01 10:31
BAGHDAD: British energy giant BP and China's Chinese National Petroleum Corp (CNPC) International Ltd won a deal to develop Iraq's biggest oilfield but had to slash its fee as Baghdad's tough terms put off other investors in the country's first major energy auction since the US-led invasion in 2003.
Other companies, including firms from China and India that are eager to get a share of the world's third largest oil reserves, balked at the fees and Iraq failed to strike deals on the remaining seven oil and gas fields on offer.
The controversial auction of Iraq's prized assets took place on the same day that the US troops who toppled Saddam Hussein quit Iraq's cities and left security chiefly to the country's own forces. The sale aims to raise funds for reconstruction as Iraq also takes greater charge of its economy.
"Today we have seen that the Iraqi Oil Ministry and international oil companies are living on different planets," oil analyst Ruba Husari said.
The results of the auction were not a disappointment, said Oil Ministry spokesman Asim Jihad.
"The participation of these well-known, major companies is a good sign and it reflects the desire of these firms to invest in the Iraqi oil sector," Jihad said.
Iraq's Oil Ministry asked companies to submit revised bids at the end of the auction. Seven did, but they were not made public. The bids would be handed to the Iraqi cabinet for a decision, an official close to the process said.
The sale was billed as the first chance since Iraq nationalised its oil in 1972 for major foreign companies to get a run at the country's hydrocarbon reserves, much of which are untapped. But many Iraqi critics said it was a bad bargain.
Foreign companies servicing the fields will be paid per barrel of oil produced above a certain amount.
BP and CNPC Grab Sole Deal
The BP-led consortium including the CNPC, was the only foreign group to strike a deal -- for the 17-billion barrel Rumaila oilfield, Iraq's biggest, in the Shi'ite south.
The deal only went down after an Exxon Mobil-led group rejected the government's proposed fee.
(Agencies)
Updated: 2009-07-01 10:31
BAGHDAD: British energy giant BP and China's Chinese National Petroleum Corp (CNPC) International Ltd won a deal to develop Iraq's biggest oilfield but had to slash its fee as Baghdad's tough terms put off other investors in the country's first major energy auction since the US-led invasion in 2003.
Other companies, including firms from China and India that are eager to get a share of the world's third largest oil reserves, balked at the fees and Iraq failed to strike deals on the remaining seven oil and gas fields on offer.
The controversial auction of Iraq's prized assets took place on the same day that the US troops who toppled Saddam Hussein quit Iraq's cities and left security chiefly to the country's own forces. The sale aims to raise funds for reconstruction as Iraq also takes greater charge of its economy.
"Today we have seen that the Iraqi Oil Ministry and international oil companies are living on different planets," oil analyst Ruba Husari said.
The results of the auction were not a disappointment, said Oil Ministry spokesman Asim Jihad.
"The participation of these well-known, major companies is a good sign and it reflects the desire of these firms to invest in the Iraqi oil sector," Jihad said.
Iraq's Oil Ministry asked companies to submit revised bids at the end of the auction. Seven did, but they were not made public. The bids would be handed to the Iraqi cabinet for a decision, an official close to the process said.
The sale was billed as the first chance since Iraq nationalised its oil in 1972 for major foreign companies to get a run at the country's hydrocarbon reserves, much of which are untapped. But many Iraqi critics said it was a bad bargain.
Foreign companies servicing the fields will be paid per barrel of oil produced above a certain amount.
BP and CNPC Grab Sole Deal
The BP-led consortium including the CNPC, was the only foreign group to strike a deal -- for the 17-billion barrel Rumaila oilfield, Iraq's biggest, in the Shi'ite south.
The deal only went down after an Exxon Mobil-led group rejected the government's proposed fee.
aimarraul
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PMI of manufacturing sector reaches 53.2% in June
(Xinhua)
Updated: 2009-07-01 10:09
BEIJING: The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 53.2 percent in June, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.
The figure was up 0.1 percentage points from May, when the index fell 0.4 percentage points from the previous month.
A reading of above 50 suggests expansion, while below 50 indicates contraction.
The PMI includes a package of indices that measure economic performance. The survey, conducted by the National Bureau of Statistics, covers purchasing and supply managers at more than 700 firms across China.
The output index was 57.1 percent, up 0.2 percentage points from a month ago. The new order index fell to 55.5 percent from 56.2 percent in May and 56.6 percent in April.
The purchasing price index climbed 4.7 percentage points to 57.8 percent, the seventh monthly increase since December.
(Xinhua)
Updated: 2009-07-01 10:09
BEIJING: The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 53.2 percent in June, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.
The figure was up 0.1 percentage points from May, when the index fell 0.4 percentage points from the previous month.
A reading of above 50 suggests expansion, while below 50 indicates contraction.
The PMI includes a package of indices that measure economic performance. The survey, conducted by the National Bureau of Statistics, covers purchasing and supply managers at more than 700 firms across China.
The output index was 57.1 percent, up 0.2 percentage points from a month ago. The new order index fell to 55.5 percent from 56.2 percent in May and 56.6 percent in April.
The purchasing price index climbed 4.7 percentage points to 57.8 percent, the seventh monthly increase since December.
aimarraul
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Airbus starts $350m Harbin plant construction
By Zheng Lifei (China Daily)
Updated: 2009-07-01 10:35
HARBIN: European aircraft maker Airbus Tuesday started construction of a $350 million component plant in this industrial city, one week after it delivered its first A320 plane assembled in China.
The composite manufacturing facility, in which Airbus holds 20 percent stake, will produce components for A350 XWB, a wide body plane, and A320 families, a single-aisle aircraft.
Harbin Aircraft Industry Group Corporation Ltd, Hafei Aviation Industry Company Ltd, AviChina Industry & Technology Company and other Chinese partners hold the balance 80 percent stake.
The new plant, scheduled to be operational by the end of 2010, is part of the world's second biggest aircraft maker's commitment to locally manufacture 5 percent of the A350 XWB airframe under an agreement reached with the Chinese government in 2007.
The new plant, which will cover more than 30,000 sq m, will create 1,000 jobs, according to Yu Shayan, vice-governor of Heilongjiang province.
"It (the manufacturing center) will be able to manufacture composite parts and assemble composite work-packages for the A350 XWB and A320 families and future Airbus programs," said Laurence Barron, president, Airbus China.
The joint venture plant, Barron said, would serve as an exclusive supplier to Airbus.
Asked whether the plant would in the future supply parts for China's large commercial aircraft project, Barron said: "I doubt it, but all possibilities remain."
Airbus is also in discussions with Chinese industrial partners for a project to manufacture components for its A350 XWB plane in Chengdu, Barron said.
Logistics Center in Tianjin
The plane maker, Barron said, is also considering setting up a logistics center in Tianjin.
But he declined to elaborate on the two issues.
Airbus' industrial procurement value from China amounted to $100 million last year and the aircraft maker is aiming to double it to $200 million by next year and to $500 million by 2015, Barron said.
The construction of the new plant comes one week after Airbus delivered its first A320 aircraft assembled in the Tianjin factory to Chinese airlines.
The Tianjin assembly, in which Airbus holds 51 percent stake, will roll out 10 more A320 aircraft within this year.
By Zheng Lifei (China Daily)
Updated: 2009-07-01 10:35
HARBIN: European aircraft maker Airbus Tuesday started construction of a $350 million component plant in this industrial city, one week after it delivered its first A320 plane assembled in China.
The composite manufacturing facility, in which Airbus holds 20 percent stake, will produce components for A350 XWB, a wide body plane, and A320 families, a single-aisle aircraft.
Harbin Aircraft Industry Group Corporation Ltd, Hafei Aviation Industry Company Ltd, AviChina Industry & Technology Company and other Chinese partners hold the balance 80 percent stake.
The new plant, scheduled to be operational by the end of 2010, is part of the world's second biggest aircraft maker's commitment to locally manufacture 5 percent of the A350 XWB airframe under an agreement reached with the Chinese government in 2007.
The new plant, which will cover more than 30,000 sq m, will create 1,000 jobs, according to Yu Shayan, vice-governor of Heilongjiang province.
"It (the manufacturing center) will be able to manufacture composite parts and assemble composite work-packages for the A350 XWB and A320 families and future Airbus programs," said Laurence Barron, president, Airbus China.
The joint venture plant, Barron said, would serve as an exclusive supplier to Airbus.
Asked whether the plant would in the future supply parts for China's large commercial aircraft project, Barron said: "I doubt it, but all possibilities remain."
Airbus is also in discussions with Chinese industrial partners for a project to manufacture components for its A350 XWB plane in Chengdu, Barron said.
Logistics Center in Tianjin
The plane maker, Barron said, is also considering setting up a logistics center in Tianjin.
But he declined to elaborate on the two issues.
Airbus' industrial procurement value from China amounted to $100 million last year and the aircraft maker is aiming to double it to $200 million by next year and to $500 million by 2015, Barron said.
The construction of the new plant comes one week after Airbus delivered its first A320 aircraft assembled in the Tianjin factory to Chinese airlines.
The Tianjin assembly, in which Airbus holds 51 percent stake, will roll out 10 more A320 aircraft within this year.
aimarraul
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Fuzhou-Wenzhou high-speed railway on trial run
(Xinhua)
Updated: 2009-06-30 21:24
FUZHOU: The first high-speed railway in China's coastal mountainous Fujian Province began trials Tuesday, local authorities said.
The railway, linking Fujian's capital Fuzhou and Wenzhou City in neighbouring Zhejiang Province, began trials at 8:36 a.m. in Fuzhou. This is the first railway linking the two provinces, said an official with the Fujian Development and Reform Commission.
The railway will be formally put into use in October, the official said.
The 298.4-kilometer-long railway costs 12.66 billion yuan (US$1.85 billion). Nearly 230 kilometers are in Fujian.
The railway has a design speed of 200 to 250 kilometers per hour for passenger trains, and the journey between the two cities will be shortened from five hours to two hours. Construction began in August 2005.
The new line will be an important section of China's coastal railway artery. The other two railway lines in the project, including one rail linking Shenzhen City in Guangdong Province and Xiamen City in Fujian, and the other linking Fuzhou and Xiamen, are still under construction and are expected to be finished in 2010 and 2009 respectively.
"By then, the railways will stretch along China's booming southeast coast, linking the Yangtze and Pearl River Deltas, China's two biggest economic powerhouses," said Yu Xuanming, deputy general manager of the Southeast Coast Railway Fujian Co. Ltd., the railway operator.
(Xinhua)
Updated: 2009-06-30 21:24
FUZHOU: The first high-speed railway in China's coastal mountainous Fujian Province began trials Tuesday, local authorities said.
The railway, linking Fujian's capital Fuzhou and Wenzhou City in neighbouring Zhejiang Province, began trials at 8:36 a.m. in Fuzhou. This is the first railway linking the two provinces, said an official with the Fujian Development and Reform Commission.
The railway will be formally put into use in October, the official said.
The 298.4-kilometer-long railway costs 12.66 billion yuan (US$1.85 billion). Nearly 230 kilometers are in Fujian.
The railway has a design speed of 200 to 250 kilometers per hour for passenger trains, and the journey between the two cities will be shortened from five hours to two hours. Construction began in August 2005.
The new line will be an important section of China's coastal railway artery. The other two railway lines in the project, including one rail linking Shenzhen City in Guangdong Province and Xiamen City in Fujian, and the other linking Fuzhou and Xiamen, are still under construction and are expected to be finished in 2010 and 2009 respectively.
"By then, the railways will stretch along China's booming southeast coast, linking the Yangtze and Pearl River Deltas, China's two biggest economic powerhouses," said Yu Xuanming, deputy general manager of the Southeast Coast Railway Fujian Co. Ltd., the railway operator.
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