China’s first 10-megawatt offshore wind turbine was connected to the grid at the Three Gorges Corporation’s Xinghua Bay Phase II offshore wind farm in Fujian on Sunday. It is the largest offshore wind power unit in the Asia-Pacific region and the second largest in the world. https://www.offshorewind.biz/2020/07/13/largest-wind-turbine-in-china-now-grid-connected/
Global investors bought a record 4.3 tln yuan in yuan-denominated Chinese govt bonds in Q2
Global investors bought a record 4.3 tln yuan in yuan-denominated Chinese govt bonds in Q2, as the bonds becoming the new safe haven for global investors, data provider CEIC showed. Total holdings of Chinese govt bonds by foreign investors have reached 1.5 tln yuan.
Investors seeking shelter from the turbulence in markets have found a new haven: Chinese sovereign bonds.
Foreign capital flowed into locally denominated Chinese government bonds in the second quarter at the fastest pace since late 2018, according to data from CEIC, an economic data provider. It surpassed 4.3 trillion yuan ($619 billion), the highest on record. https://www.wsj.com/articles/investors-find-new-safe-place-to-hide-chinese-bonds-11594632600
China sanctions Cruz, Rubio, Smith, Brownback
China says it will impose sanctions on three U.S. lawmakers and one ambassador in response to similar actions taken by the U.S. against Chinese officials over alleged human rights abuses against Muslims in the Xinjiang region
Work starts on Zhejiang’s COVID-19 vaccine production base
https://www.globaltimes.cn/content/1194396.shtml?fbclid=IwAR0DXA0TdUqfkSqCXxNGdXvqtrODNM5jyEacmke9ETbscrbke9DOtJA1uPs Construction started on the first COVID-19 vaccine production base in East China’s Zhejiang Province on Saturday in the Ningbo Free Trade Zone, and the facility is expected to be put in use in March next year.
Total investment is estimated at 2.5 billion yuan ($357 million), of which 550 million yuan will be used in the research, development and production of an effective vaccine, according to the Administrative Committee of Ningbo Free Trade Zone (NFTZ) on Monday.
“Under the premise of ensuring quality, we will accelerate the construction of the vaccine workshop and strive to put it into use next March. We will also strive to realize COVID-19 vaccine production in Ningbo in the first half of next year,” said Yan Rongjie, director of the administrative committee.
The project will be implemented in three phases, with the first phase costing 1.3 billion yuan to commercialize the production of a COVID-19 vaccine as well as a new rabies vaccine for human use, while also building a high-level biological laboratory.