SOEs News

China's New Generation Carrier Rocket Long March-8 Ready for Launch

2022-01-24

China plans to launch its new generation carrier rocket Long March-8 Y2 between late February and early March from the southern island of Hainan, sources with the China Academy of Launch Vehicle Technology, the country's leading rocket maker, said on Jan 21.

World's First LNG Unloading Arm with Automatic Docking Function Put into Operation

2022-01-21

The world's first liquefied natural gas (LNG) unloading arm with automatic docking function was recently put into operation at China's first LNG port with dual berths.

CNOOC Steps up Projects in 2021

2022-01-21

CNOOC International Limited, the international branch of China National Offshore Oil Corp, the country's top offshore oil and gas driller, has stepped up international energy cooperation in 2021 despite the impact of COVID-19 with several projects put into operation, the company said on Jan 20, 2022.

POWERCHINA Sets up New Energy Subsidiary

2022-01-20

Power Construction Corporation of China (POWERCHINA) reorganized its new energy business and launched POWERCHINA Renewable Energy Development Co., Ltd. in Beijing on Dec 26.

New Administrative Capital City in Egypt Starts Trial Operation

2022-01-20

Several ministries of Egypt government are moving to the country's new administrative capital city, kicking off a six-month trial operation.

2 Ships in 2 Days Delivered to COSCO

2022-01-20

A new semi-submersible vessel built by Guangzhou Shipyard International Company for COSCO Shipping Specialized Carriers Co was named the Xin Yao Hua and delivered for use after a naming ceremony on Jan 19.

Ships Arranged from Papua New Guinea to Repair Tonga Submarine Cable

2022-01-20

China Telecom told China Daily on Jan 19 that repair ships have been coordinated from Papua New Guinea to fix the submarine cable in Tonga damaged by a massive eruption of an underwater volcano off the island nation, and the repair work may take several weeks.

China's Central SOEs Report Record Revenues, Profits in 2021

2022-01-20

China's centrally-administered State-owned enterprises (SOEs) registered their best performance ever in 2021, with record-setting revenues and profits, despite lingering impacts from the COVID-19 pandemic, according to official data released Jan 19.

SOE Reform to Focus on Managing Capital

2022-01-20

According to the latest deployment of the State-owned Assets Supervision and Administration Commission of the State Council, it will continue to promote State-owned enterprise reform this year, focusing on proper incentive policies, business integration and mixed-ownership reform.

Regulator Says Central SOEs are in Fine Fettle

2022-01-20

With better control over the debt-to-asset ratio, China's centrally administered State-owned enterprises will see both gross and net profit growth rates outpace the GDP growth rate this year, said Peng Huagang, secretary-general of the State-owned Assets Supervision and Administration Commission, the nation's top State asset regulator.

State Grid Launches New Pumped Storage Power Station to Support Beijing 2022

2022-01-19

State Grid Corporation of China (State Grid) held a ceremony on Dec 30, 2021 to announce operation of the Fengning Pumped Storage Power Station. The station will contribute to safe, reliable, flexible, highly-efficient, green and clean power supply for the upcoming Beijing 2022 Winter Olympics.

Asia's First Offshore Wind Power Flexible DC Transmission Project Put into Full Operation

2022-01-18

The Rudong offshore wind power flexible direct current (DC) transmission project in East China's Zhejiang Province went into full operation on Dec 25, 2021.