China in investment fraud over its ambitious plans singaporestar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from singaporestar.com Daily Mail and Mail on Sunday newspapers.
China s push for homegrown chipmakers leads to multimillion-dollar investment swindle: Report ANI | Updated: Feb 13, 2021 22:59 IST
Beijing [China], February 13 (ANI): China has the ambition to create a national champion in the semiconductor industry, however, this desire has led to a series of reckless investments in poorly planned projects, many of which went bankrupt within a couple of years after swiping multimillion-dollar investments from government organs, according to a report in Nikkei Asia.
The local governments in China have been eager to support private enterprises that make chips even those with dubious credentials, the report said.
Chinese National Development Reform Commission (NDRC) has also admitted the problem and has stepped in to work with other government departments and put in place tighter supervision over semiconductor projects, as Beijing continues its push to boost domestic chip development and manufacturing.
Analysis: China’s gas buyers shun high-priced spot LNG despite energy shortages
China’s natural gas companies have backed off from purchasing high-priced spot LNG for February deliveries as they are unable to sell downstream at high prices, and after the government cracked down on domestic price surges in recent weeks.
This is despite energy shortages in northern China and efforts to shore up supplies of electricity and feedstocks like coal, pipeline natural gas, domestic gas and LNG imports. It also comes after record high LNG imports by China in December, according to S&P Global Platts Analytics.
Asian spot LNG prices climbed over the $15/MMBtu mark at the end of 2020 and there has since been a noticeable decline in buying interest, with no spot purchases by Chinese end-users reported since the Christmas holidays, Singapore-based traders said.
Hong Kong: Bay area postal plan welcomed
Hongkong Post today welcomed the release of the Implementation Opinions on the Promotion of the Development of Postal Industry of the Guangdong-Hong Kong-Macao Greater Bay Area.
Jointly promulgated by the State Post Bureau, the National Development & Reform Commission, the Ministry of Transport, the Ministry of Commerce and the General Administration of Customs earlier this week, the document s proposals include establishing a smooth and highly efficient delivery network, and assisting the Guangdong, Hong Kong and Macau postal administrations in strengthening complementarity of advantages in conveyance and handling of inward and outward airmail.
The document also proposed leveraging on the bay area express logistics network to give full play to the advantages of land transport through the Hong Kong-Zhuhai-Macao Bridge, and assisting in the expansion of the import and export business in cross-border e-commerce.
MIL-OSI Asia-Pac: Bay area postal plan welcomed | ForeignAffairs co nz foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.