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NEWSROUNDUP
The Big Picture
A roundup of news relevant to operations in China
Chinese construction workers pour concrete at the site of the second reactor of
Economy
the Fuqing Nuclear Power Plant in Fuqing city, Southeast China’s Fujian province.
Chinese Premier pledges to
from its previous expectation of 6.5% increase of 18% over 2007. China has
pump more cash into economy
growth. The predicted expansion, howev- now become the world’s second largest
While visiting Hebei Province on June
er, is nearly entirely attributable to govern- wind power market and the world’s big-
19th and 20th, Chinese premier Wen
ment stimulus spending on infrastructure gest photovoltaic (a form of solar energy)
Jibao pledged to pump more money into
projects. The report concluded that in manufacturer. The report also predicted
the country’s financial system. In a bid to
order for Chinese economic growth to be that Chinese investment in wind and solar
spur growth and encourage lending, the
sustainable, the rest of the world economy power would continue to increase healthily
Chinese government will maintain a “pro-
will need to display signs of recovery. this year.
active” fiscal policy, he said. The cash in-
- Radio Australia - China Sourcing News
fusions will come as part of the Chinese
government’s 4 trillion yuan ($585 billion)
Energy China starts construction of
stimulus plan.
second generator unit of Fuqing
- Bloomberg
UN: China takes lead on green Nuclear Plant
energy The Construction of Fuqing Nuclear
World Bank expresses cautious
According to a new report from the Power Plant, China’s ninth nuclear power
optimism on Chinese growth
United Nations Environmental Programme, plant, started last November. It is planned
prospects
China is now leading Asia in the develop- to be equipped with six sets of 1,000
A new report from the World Bank pre-
ment of green energy sources. The report megawatt generators, and will receive
dicted that the Chinese economy would
notes that China invested more than $15.6 a total investment of around 100 billion
grow 7.2% this year, a positive revision
billion on alternative energy in 2008, an yuan (US$14.63 billion).
16 JULY/AUGUST 2009 www.chainaonline.com
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