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September 28, 2009

Nuclear power project of AP1000 technology in Shandong

Filed under: Financial News — Tags: — sherry @ 2:21 am -0700

Nuclear power project of AP1000 technology in Shandong
China approves nuclear power project of AP1000 technology in Shandong

News September 27: China’s State Council (Cabinet) has given the go-ahead to the phase one project of the Shandong Haiyang nuclear power station. The Council’s State-owned Assets Supervision and Administration Commission said in a statement on its website Sunday that two nuclear power generating units would be built in the first phase of the project, each with an installed capacity of 1.25 million kilowatts.

The China Power Investment Corp. and State Nuclear Power Technology Corp. planned to put the units into operation in May 2014 and March 2015 respectively. The nuclear power plant would use the AP1000 technology, a type of the third-generation nuclear power reactor designed by U.S.-based Westinghouse company. The Haiyang plant will have six units each with a generating capacity exceeding 1 million kilowatts.

In an effort to tackle climate change, the government has accelerated the construction of hydropower, nuclear, solar and wind power capacities. It aims at increasing the proportion of new energy in total energy consumption to 10 percent by 2010 and to 15percent by 2020. According to the country’s long and mid-term development plan of nuclear power plants, nuclear power installed capacity will reach 40 million kw by 2020 and will generate 260 billion to 280 billion kilowatt hours of electricity each year, accounting for 4 to 6 percent of the country’s total.

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Great Achievement for Aviation Industry Corporation of China: Sales Volume of AVIC in auto industry

Filed under: Financial News — Tags: — sherry @ 2:17 am -0700

Great Achievement for Aviation Industry Corporation of China: Sales Volume of AVIC in auto industry
News on September 27: China’s top aircraft manufacturer, the Aviation Industry Corporation of China (AVIC), said on Sunday that total sales volume in its auto business would reach 30 billion yuan (about 4.39 billion U.S. dollars) by 2017.

The deputy GM of AVIC says that making big passenger vehicles has become the the corporations’s guiding plan for development in its auto business. Moreover, he revealed the figure at a ceremony marking AVIC and its partner Volvol’s new product Silver 900 series going into production line. The series is a new type of big and luxurious passenger vehicles, 12 meters long, which could be used for road transportation, tourist reception, and military equipment.

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Dexia layoffs: Dexia intends to lay off 602 people

Filed under: Financial News — Tags: — sherry @ 2:08 am -0700

Dexia layoffs: Dexia intends to lay off 602 people
News on Sunday: The world’s largest provider of local government loans, Dexia (Dexia SA) said it would cut down 602 jobs to cut about 600 million euros in operating costs.

Last year, the U.S. bond insurance sector of Dexia involve into huge losses, forcing the bank to require France, Belgium and Luxembourg government to invest 6.4 billion euros capital injection. The bank in July has sold this U.S. unit.

Dexia Friday said the job cuts at its retail banking, commercial banking and insurance sector, among the layoff posts, 445 people will come from Belgium, 143 people from Luxembourg, and another 14 people from France .

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