ecns [expanded by feedex.net]
ecns
Rich find spirit of generous giving
http://www.ecns.cn/2013/02-02/48510.shtml
Feb 2nd 2013, 01:42
2013-02-02 10:42 China Daily Web Editor: Liu Xian
comment
China's rich showed increasing enthusiasm about making big donations to the nonprofit sector and most of their donations, including pledges, went to universities in 2012, according to a new report.
Last year saw charitable gifts of 4.9 billion yuan ($787 million) and pledges of 60 billion yuan from the country's top 100 individual donors, according to the China Philanthropy Research Institute of Beijing Normal University.
The total value was five times that of the previous year, it said.
Huang Nubo, chairman of Beijing Zhongkun Investment Group, a private company, topped the list as the most generous donor with a pledged gift of 50 billion yuan to Peking University over 10 years.
Huang, alumnus of Peking University, donated 900 million yuan to the university and another 20 million yuan to another two higher education institutions in 2011.
Yang Xiu, a real estate developer in Nanjing, Jiangsu province, ranked third on the list with a generous donation of 400 million yuan to Nanjing University.
Liu Xiaoli, secretary-general of the Nanjing University Education Development Foundation that received Yang's donation, said that Yang signed a contract with the university, promising a fund of 100 million yuan to support history studies and the rest to help the university set up a department of engineering.
"In the past, we received small donations from entrepreneurs or alumni who simply asked us to provide scholarships for students from poor family backgrounds. Spending that money was an easy job for us," Liu said.
"Now, we need to establish a foundation and make long-term plans to ensure that the large donations can be used effectively," she said.
The report also showed that more than 80 percent of the giving went to the education sector.
The mainland's new tycoons from the property, energy, high-tech, construction and financial sectors made the most contributions in large donations.
Deng Guosheng, director of the NGO Research Center at Tsinghua University, said large charitable giving became a significant trend in China after the devastating earthquake in 2008 aroused public passion to donate for disaster relief work.
"However, our research also found that many rich Chinese people assumed philanthropy was a simple task and few have a clear strategy in charitable giving or making sustainable efforts to help solve some social problems such as aging," he said.
"It resulted in overlapping donations in a few fields, including education," he said.
Wang Zhenyao, director of the China Philanthropy Research Institute at Beijing Normal University, said that rapidly accumulated wealth in the charitable sector also calls for better management and transparency in spending.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
Saturday, February 2, 2013
ecns [expanded by feedex.net]: Chongqing urges preservation of relics
ecns [expanded by feedex.net]
ecns
Chongqing urges preservation of relics
http://www.ecns.cn/2013/02-02/48511.shtml
Feb 2nd 2013, 01:43
2013-02-02 10:43 China Daily Web Editor: Liu Xian
comment
Chongqing, the provisional capital when China fought invading Japanese forces from 1937 to 1945, needs to preserve its wartime relics, political advisers said.
The Chongqing branches of two non-Communist parties — the China Association for Promoting Democracy and the Jiu San Society — have proposed that the municipality step up efforts to protect its legacy from the War of Resistance against Japanese Aggression.
"The cultural legacy from the war against Japanese aggression is one of the municipality's most valuable historic assets. However, it is also among the least well-protected aspects of the historic cultural heritage in the municipality," said Zhang Kemin, deputy chairwoman of the Chongqing branch of CAPD, during an annual session of the Chongqing committee of the Chinese People's Political Consultative Conference.
Chongqing gained political prominence after the Japanese invasion. After Nanjing fell to the Japanese in 1937, Chong- qing became the provisional capital.
The city suffered many casualties and losses as the Japanese army attacked the city with its air force from 1938 to 1943 during the Bombing of Chongqing.
The city now has more than 600 relics from the period, half of which have been destroyed, according to another proposal by the Chongqing branch of the Jiu San Society.
Only 18.5 percent of the relics are well protected, the proposal said.
In the municipality's Ba-nan district, a prisoner-of-war camp for Japanese soldiers was used as a pigsty by local farmers, Chongqing Evening News reported. A graveyard for pilots who fought in the Bombing of Chongqing period was also beyond recognition.
"Those relics are priceless. However, now local residents cannot even find a place to mourn that historic period," said Han Ziyu, author of several books on wartime cultural relics in Chongqing.
The Jiu San Society proposal said: "The protection of those relics requires concrete plans and measures by authorities. Currently, the funding and staff devoted to the protection is far from adequate."
Zhang said promoting the municipality's wartime heritage will not only boost tourism but also enhance international cultural exchanges.
Kuang Youzhi, head of the municipality's archives bureau, said Chongqing and Taiwan will expand archives exchanges covering wartime heritage.
The municipality's archives will host one exhibition on wartime culture and land reform in Taiwan in September. It is also preparing for two more exhibitions in Taiwan in the next two years.
The municipality has already reconstructed some cultural relics in the past few years.
In November, a street that depicts life during Kuomintang times was opened in the Liangjiang New Area. It was also the location for the filming of the blockbuster Back to 1942.
The street received thousands of local visitors on the first day it opened, creating traffic congestion in the area, according to a news statement by the Liangjiang New Area.
"The popularity of the street also demonstrates that the wartime culture and reconstruction of cultural relics during that period has huge business potential as well, and it will certainly help boost tourism," the CAPD's Zhang said.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
Chongqing urges preservation of relics
http://www.ecns.cn/2013/02-02/48511.shtml
Feb 2nd 2013, 01:43
2013-02-02 10:43 China Daily Web Editor: Liu Xian
comment
Chongqing, the provisional capital when China fought invading Japanese forces from 1937 to 1945, needs to preserve its wartime relics, political advisers said.
The Chongqing branches of two non-Communist parties — the China Association for Promoting Democracy and the Jiu San Society — have proposed that the municipality step up efforts to protect its legacy from the War of Resistance against Japanese Aggression.
"The cultural legacy from the war against Japanese aggression is one of the municipality's most valuable historic assets. However, it is also among the least well-protected aspects of the historic cultural heritage in the municipality," said Zhang Kemin, deputy chairwoman of the Chongqing branch of CAPD, during an annual session of the Chongqing committee of the Chinese People's Political Consultative Conference.
Chongqing gained political prominence after the Japanese invasion. After Nanjing fell to the Japanese in 1937, Chong- qing became the provisional capital.
The city suffered many casualties and losses as the Japanese army attacked the city with its air force from 1938 to 1943 during the Bombing of Chongqing.
The city now has more than 600 relics from the period, half of which have been destroyed, according to another proposal by the Chongqing branch of the Jiu San Society.
Only 18.5 percent of the relics are well protected, the proposal said.
In the municipality's Ba-nan district, a prisoner-of-war camp for Japanese soldiers was used as a pigsty by local farmers, Chongqing Evening News reported. A graveyard for pilots who fought in the Bombing of Chongqing period was also beyond recognition.
"Those relics are priceless. However, now local residents cannot even find a place to mourn that historic period," said Han Ziyu, author of several books on wartime cultural relics in Chongqing.
The Jiu San Society proposal said: "The protection of those relics requires concrete plans and measures by authorities. Currently, the funding and staff devoted to the protection is far from adequate."
Zhang said promoting the municipality's wartime heritage will not only boost tourism but also enhance international cultural exchanges.
Kuang Youzhi, head of the municipality's archives bureau, said Chongqing and Taiwan will expand archives exchanges covering wartime heritage.
The municipality's archives will host one exhibition on wartime culture and land reform in Taiwan in September. It is also preparing for two more exhibitions in Taiwan in the next two years.
The municipality has already reconstructed some cultural relics in the past few years.
In November, a street that depicts life during Kuomintang times was opened in the Liangjiang New Area. It was also the location for the filming of the blockbuster Back to 1942.
The street received thousands of local visitors on the first day it opened, creating traffic congestion in the area, according to a news statement by the Liangjiang New Area.
"The popularity of the street also demonstrates that the wartime culture and reconstruction of cultural relics during that period has huge business potential as well, and it will certainly help boost tourism," the CAPD's Zhang said.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns [expanded by feedex.net]: 'Empresses in the Palace' may be set to bring Asian magic
ecns [expanded by feedex.net]
ecns
'Empresses in the Palace' may be set to bring Asian magic
http://www.ecns.cn/2013/02-02/48509.shtml
Feb 2nd 2013, 01:32
2013-02-02 10:32 China Daily Web Editor: Liu Xian
comment
A screen grab from the popular Chinese TV drama Empresses in the Palace. There are plans fro it to be re-edited and broadcast in the US.
Wysteria Lane, the fictional setting of the US TV series Desperate Housewives, may have some competition from some more ancient surroundings - or at least that's the plan.
Recent stirrings in the Chinese TV scene have pointed that the Chinese TV drama The Legend of Zhenhuan, or Empresses in the Palace, may be headed West. But rumors of such a move are right now only that.
The Chinese TV drama, with its critical and meticulous display of the intrigue between emperor's concubines in the imperial palace of the Qing Dynasty (1644-1911), was arguably China's best-received and most influential TV drama last year.
It gained a record-breaking 10 percent rating at its peak and some 2 billion click-throughs online. After attracting a large audience on the mainland, the drama has unexpectedly become a popular sensation in Taiwan as well.
Unusual for any mainland TV production in the past decade, reactions have included an audience rating that tops many star entertainment shows, many talk shows that sing its praises, and continuous social discussions.
For Cao Ping, the TV drama's producer, these are all surprises. She said she could finally hold her head high after news that the show has scored high ratings in Malaysia and Singapore, and that it has been sold to Japan.
A US production company noticed that it captivated Chinese audiences in the US, Cao said. But she declined to reveal the name of the company.
Confident in both the show's cultural value and its movie-like production level, the company purchased the right for broadcasting in all English-speaking regions, Cao said.
Cao said the company will re-edit the 76-episode series into a six-part mini-series with one-hour episodes. Due to the possible edits, there may be some loss in the fluidity of the plot, so Cao said the company is considering investing in reshooting various scenes with the original cast.
Apart from reshooting, Cao also said that the company will rescore the series, and the dialogue may be dubbed into English.
But Zheng Xiaolong, who directed the series, later said they've agreed that subtitles may be a better choice. Although English subtitles are in the DVD version, the US production team is still in the drafting phase of a better translation as well as a detailed editing plan. Both will then be submitted to Zheng for final approval.
Though both Zheng and Cao believe it's going to be the first serious instance of a Chinese TV drama exported to the US. Unlike any previously exported Chinese TV dramas that have ended up in Chinese channels, The Legend of Zhenhuan is believed to have a chance to be broadcast via mainstream TV stations.
Rumor has it that the show will be broadcast on HBO. However, the cable movie network has said that it is not currently involved with such projects.
Zheng confirmed that the show is not yet decided on a TV network. However, TV critics in the US are skeptical that the show will ever air on a major US TV network, particularly during prime time, its regular programming hours.
James Poniewozik, TV critic for Time magazine, said adaptations of foreign-language series such as Intriguement on HBO and Homeland on Showtime, both adaptations of Israeli series, have become more common in the US. But he doesn't see US TV taking foreign productions and running the original in subtitled form in prime time or during prominent programming.
"There is just a general feeling that has some substantiation in the commercial film market that the US audience is just not that receptive to reading subtitles," he said. "I don't know what would get lost in cultural translations. I think that inevitably, if you're adapting something from one culture and setting in another culture, you're going to lose some subtleties and cultural references."
Using Hamlet as an example, Poniewozik said that productions of William Shakespeare's classic play can be made in a Chinese dynasty rather than the original setting of Denmark, and still express similar themes. But despite the similarities, some elements would get lost in translation.
"Cultural translation is one factor, but the language is a bigger factor," he said.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
'Empresses in the Palace' may be set to bring Asian magic
http://www.ecns.cn/2013/02-02/48509.shtml
Feb 2nd 2013, 01:32
2013-02-02 10:32 China Daily Web Editor: Liu Xian
comment
A screen grab from the popular Chinese TV drama Empresses in the Palace. There are plans fro it to be re-edited and broadcast in the US.
Wysteria Lane, the fictional setting of the US TV series Desperate Housewives, may have some competition from some more ancient surroundings - or at least that's the plan.
Recent stirrings in the Chinese TV scene have pointed that the Chinese TV drama The Legend of Zhenhuan, or Empresses in the Palace, may be headed West. But rumors of such a move are right now only that.
The Chinese TV drama, with its critical and meticulous display of the intrigue between emperor's concubines in the imperial palace of the Qing Dynasty (1644-1911), was arguably China's best-received and most influential TV drama last year.
It gained a record-breaking 10 percent rating at its peak and some 2 billion click-throughs online. After attracting a large audience on the mainland, the drama has unexpectedly become a popular sensation in Taiwan as well.
Unusual for any mainland TV production in the past decade, reactions have included an audience rating that tops many star entertainment shows, many talk shows that sing its praises, and continuous social discussions.
For Cao Ping, the TV drama's producer, these are all surprises. She said she could finally hold her head high after news that the show has scored high ratings in Malaysia and Singapore, and that it has been sold to Japan.
A US production company noticed that it captivated Chinese audiences in the US, Cao said. But she declined to reveal the name of the company.
Confident in both the show's cultural value and its movie-like production level, the company purchased the right for broadcasting in all English-speaking regions, Cao said.
Cao said the company will re-edit the 76-episode series into a six-part mini-series with one-hour episodes. Due to the possible edits, there may be some loss in the fluidity of the plot, so Cao said the company is considering investing in reshooting various scenes with the original cast.
Apart from reshooting, Cao also said that the company will rescore the series, and the dialogue may be dubbed into English.
But Zheng Xiaolong, who directed the series, later said they've agreed that subtitles may be a better choice. Although English subtitles are in the DVD version, the US production team is still in the drafting phase of a better translation as well as a detailed editing plan. Both will then be submitted to Zheng for final approval.
Though both Zheng and Cao believe it's going to be the first serious instance of a Chinese TV drama exported to the US. Unlike any previously exported Chinese TV dramas that have ended up in Chinese channels, The Legend of Zhenhuan is believed to have a chance to be broadcast via mainstream TV stations.
Rumor has it that the show will be broadcast on HBO. However, the cable movie network has said that it is not currently involved with such projects.
Zheng confirmed that the show is not yet decided on a TV network. However, TV critics in the US are skeptical that the show will ever air on a major US TV network, particularly during prime time, its regular programming hours.
James Poniewozik, TV critic for Time magazine, said adaptations of foreign-language series such as Intriguement on HBO and Homeland on Showtime, both adaptations of Israeli series, have become more common in the US. But he doesn't see US TV taking foreign productions and running the original in subtitled form in prime time or during prominent programming.
"There is just a general feeling that has some substantiation in the commercial film market that the US audience is just not that receptive to reading subtitles," he said. "I don't know what would get lost in cultural translations. I think that inevitably, if you're adapting something from one culture and setting in another culture, you're going to lose some subtleties and cultural references."
Using Hamlet as an example, Poniewozik said that productions of William Shakespeare's classic play can be made in a Chinese dynasty rather than the original setting of Denmark, and still express similar themes. But despite the similarities, some elements would get lost in translation.
"Cultural translation is one factor, but the language is a bigger factor," he said.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns [expanded by feedex.net]: ‘House sister’ and partner in civil case
ecns [expanded by feedex.net]
ecns
'House sister' and partner in civil case
http://www.ecns.cn/2013/02-02/48508.shtml
Feb 2nd 2013, 01:27
2013-02-02 10:27 Global Times Web Editor: Liu Xian
comment
In yet another new twist to the high-profile "house sister" hukou scandal, Gao Yin'e, a woman who co-owned a house with Gong Aiai in Beijing, has been found to own at least two hukou, the Xinhua News Agency reported Friday.
Gao and Gong are being sued by an entertainment company who rented a property owned by them and at No.8 Gongti North Road in Beijing, for losses caused by a water leakage which damaged interior decorations.
The Chaoyang district court found that Gong had used the name Gong Xianxia to register the property and that Gao had two valid IDs, when it was verifying the documents presented by the plaintiff and the defendants.
Gong Xianxia was an alias of Gong Aiai, which has since been deregistered by the public security department after Gong was found with four sets of hukou.
Gao's lawyer presented the court with a different ID than the one she had used to register the property. The two IDs are both valid, but with different registration places and birthdates, one on September 8, 1967 and the other on October 11, 1967.
"It's the first time we've encountered this situation, and how we deal with the case will depend on the status provided by the defendants and the developments in the case," the judge said.
The Chaoyang district administration for industry and commerce has found that Gong Aiai also registered an investment company in Beijing, and has begun to investigate it, the Beijing Evening News reported.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
'House sister' and partner in civil case
http://www.ecns.cn/2013/02-02/48508.shtml
Feb 2nd 2013, 01:27
2013-02-02 10:27 Global Times Web Editor: Liu Xian
comment
In yet another new twist to the high-profile "house sister" hukou scandal, Gao Yin'e, a woman who co-owned a house with Gong Aiai in Beijing, has been found to own at least two hukou, the Xinhua News Agency reported Friday.
Gao and Gong are being sued by an entertainment company who rented a property owned by them and at No.8 Gongti North Road in Beijing, for losses caused by a water leakage which damaged interior decorations.
The Chaoyang district court found that Gong had used the name Gong Xianxia to register the property and that Gao had two valid IDs, when it was verifying the documents presented by the plaintiff and the defendants.
Gong Xianxia was an alias of Gong Aiai, which has since been deregistered by the public security department after Gong was found with four sets of hukou.
Gao's lawyer presented the court with a different ID than the one she had used to register the property. The two IDs are both valid, but with different registration places and birthdates, one on September 8, 1967 and the other on October 11, 1967.
"It's the first time we've encountered this situation, and how we deal with the case will depend on the status provided by the defendants and the developments in the case," the judge said.
The Chaoyang district administration for industry and commerce has found that Gong Aiai also registered an investment company in Beijing, and has begun to investigate it, the Beijing Evening News reported.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns [expanded by feedex.net]: China's capital, financial account posts a deficit
ecns [expanded by feedex.net]
ecns
China's capital, financial account posts a deficit
http://www.ecns.cn/business/2013/02-02/48512.shtml
Feb 2nd 2013, 01:54
2013-02-02 10:54 chinadaily.com.cn Web Editor: Liu Xian
comment
China's capital and financial account posted a deficit in 2012, while the current account surplus shrank during the same period, according to data released by the State Administration of Foreign Exchange on Friday.
In a statement published on its website, the foreign exchange watchdog said the country registered a $117.3 billion deficit in the capital and financial account last year, in contrast to a surplus of $186.1 billion in 2011.
The country's current account surplus fell to $213.8 billion by the end of December, accounting for 2.6 percent of GDP. The proportion went down by 0.2 percentage points compared with that of the previous year.
The increase of China's foreign exchange reserves, which are the world's largest, stood at $98.7 billion in 2012, down 74 percent year-on-year.
In the fourth quarter of 2012, the world's second-largest economy ran a $65.8 billion surplus on the current account and a $31.8 billion deficit on its capital and financial account, SAFE said.
"The deficit reflected the fact that last year China faced capital outflow pressure as global and domestic economic growth softened and international financial turbulence increased," it said.
The reform of the currency exchange rate formation mechanism also contributed to the deficit last year, said SAFE.
"As the reform deepens and foreign reserves stabilize, if the current account witnesses a surplus, a deficit will be formed on the capital and financial account," it said.
It added a slower increase of foreign reserves wouldn't affect the effectiveness of the central bank's monetary policies, as the People's Bank of China has multiple instruments to adjust liquidity when the economic situation changes.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
China's capital, financial account posts a deficit
http://www.ecns.cn/business/2013/02-02/48512.shtml
Feb 2nd 2013, 01:54
2013-02-02 10:54 chinadaily.com.cn Web Editor: Liu Xian
comment
China's capital and financial account posted a deficit in 2012, while the current account surplus shrank during the same period, according to data released by the State Administration of Foreign Exchange on Friday.
In a statement published on its website, the foreign exchange watchdog said the country registered a $117.3 billion deficit in the capital and financial account last year, in contrast to a surplus of $186.1 billion in 2011.
The country's current account surplus fell to $213.8 billion by the end of December, accounting for 2.6 percent of GDP. The proportion went down by 0.2 percentage points compared with that of the previous year.
The increase of China's foreign exchange reserves, which are the world's largest, stood at $98.7 billion in 2012, down 74 percent year-on-year.
In the fourth quarter of 2012, the world's second-largest economy ran a $65.8 billion surplus on the current account and a $31.8 billion deficit on its capital and financial account, SAFE said.
"The deficit reflected the fact that last year China faced capital outflow pressure as global and domestic economic growth softened and international financial turbulence increased," it said.
The reform of the currency exchange rate formation mechanism also contributed to the deficit last year, said SAFE.
"As the reform deepens and foreign reserves stabilize, if the current account witnesses a surplus, a deficit will be formed on the capital and financial account," it said.
It added a slower increase of foreign reserves wouldn't affect the effectiveness of the central bank's monetary policies, as the People's Bank of China has multiple instruments to adjust liquidity when the economic situation changes.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
Thursday, January 31, 2013
ecns [expanded by feedex.net]: Nylon project in Shanghai moves forward
ecns [expanded by feedex.net]
ecns
Nylon project in Shanghai moves forward
http://www.ecns.cn/2013/02-01/48415.shtml
Feb 1st 2013, 05:37
2013-02-01 14:37 China Daily Web Editor: qindexing
comment
Invista, one of the world's largest integrated producers of polymers and fibers, announced on Thursday it will initiate a $1 billion nylon project at Shanghai Chemical Industry Park.
It has received approval from the Chinese authorities regarding both the environmental impact assessment and the project application report, a step toward its plan to construct a nylon 6-6 intermediates manufacturing facility, according to Warren Primeaux, president of Invista Intermediates.
Nylon 6-6 is preferred in many countries due to its higher value in use of lighter and cheaper automobile engines, fatigue resistant tires, high quality airbags and highly durable hosiery, but it is historically under-represented in China, which has to rely heavily on imports to meet its demand, he said.
The project aims to meet China's growing demand for nylon 6-6 material, which now accounts for only 19 percent of the Chinese nylon market, much lower than 55 percent in Americas, 63 percent in Africa and the Middle East and 38 percent in West Europe, said Primeaux.
"The lack of domestic adiponitrile production capacity is considered a major contributor to the slow development of nylon 6-6," Primeaux said.
The investment will be spent over three facilities to manufacture 215,000 tons of hexamethylene diamine, 300,000 tons of adiponitrile and about 150,000 tons of nylon 6-6 polymers annually, which will be used as raw materials to manufacture carpet fibers, engineering plastics, clothing and industrial products such as airbags and automobile parts, said Steve Kromer, senior vice-president of Invista Management (Shanghai) Co Ltd.
"The investment scheme is Invista's continuous commitment to the Chinese market following the projects it has launched in other parts of China over the past several years, which cost combined funds of $700 million," said Kromer.
Additional investment is expected to be injected into those operating facilities in China for their capacity expansion, he said.
Construction on the first phase of the $1 billion project, designed to turn out 215,000 tons of hexamethylene diamine annually, will begin in the second half of this year and be put into operation in 2015.
Primeaux said they will also prepare for the second phase, which aims to manufacture 300,000 tons of adiponitrile annually, by using the latest technology Invista has developed with an investment of $40 million and about 150,000 tons of nylon 6-6 polymers as it goes on stream in 2018.
"We believe the percentage of nylon 6-6 material China uses will reach a possible 40 and even 50 percent as the market matures," he said.
The nylon 6-6 material Invista produces in China by then is expected to account for 25 percent of its global capacity, Primeaux added.
Nearly all materials Invista produces in China will be sold to local consumers to be merged into their products, some of which will be exported.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
Nylon project in Shanghai moves forward
http://www.ecns.cn/2013/02-01/48415.shtml
Feb 1st 2013, 05:37
2013-02-01 14:37 China Daily Web Editor: qindexing
comment
Invista, one of the world's largest integrated producers of polymers and fibers, announced on Thursday it will initiate a $1 billion nylon project at Shanghai Chemical Industry Park.
It has received approval from the Chinese authorities regarding both the environmental impact assessment and the project application report, a step toward its plan to construct a nylon 6-6 intermediates manufacturing facility, according to Warren Primeaux, president of Invista Intermediates.
Nylon 6-6 is preferred in many countries due to its higher value in use of lighter and cheaper automobile engines, fatigue resistant tires, high quality airbags and highly durable hosiery, but it is historically under-represented in China, which has to rely heavily on imports to meet its demand, he said.
The project aims to meet China's growing demand for nylon 6-6 material, which now accounts for only 19 percent of the Chinese nylon market, much lower than 55 percent in Americas, 63 percent in Africa and the Middle East and 38 percent in West Europe, said Primeaux.
"The lack of domestic adiponitrile production capacity is considered a major contributor to the slow development of nylon 6-6," Primeaux said.
The investment will be spent over three facilities to manufacture 215,000 tons of hexamethylene diamine, 300,000 tons of adiponitrile and about 150,000 tons of nylon 6-6 polymers annually, which will be used as raw materials to manufacture carpet fibers, engineering plastics, clothing and industrial products such as airbags and automobile parts, said Steve Kromer, senior vice-president of Invista Management (Shanghai) Co Ltd.
"The investment scheme is Invista's continuous commitment to the Chinese market following the projects it has launched in other parts of China over the past several years, which cost combined funds of $700 million," said Kromer.
Additional investment is expected to be injected into those operating facilities in China for their capacity expansion, he said.
Construction on the first phase of the $1 billion project, designed to turn out 215,000 tons of hexamethylene diamine annually, will begin in the second half of this year and be put into operation in 2015.
Primeaux said they will also prepare for the second phase, which aims to manufacture 300,000 tons of adiponitrile annually, by using the latest technology Invista has developed with an investment of $40 million and about 150,000 tons of nylon 6-6 polymers as it goes on stream in 2018.
"We believe the percentage of nylon 6-6 material China uses will reach a possible 40 and even 50 percent as the market matures," he said.
The nylon 6-6 material Invista produces in China by then is expected to account for 25 percent of its global capacity, Primeaux added.
Nearly all materials Invista produces in China will be sold to local consumers to be merged into their products, some of which will be exported.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns [expanded by feedex.net]: First methionine plant to begin operations soon
ecns [expanded by feedex.net]
ecns
First methionine plant to begin operations soon
http://www.ecns.cn/business/2013/02-01/48417.shtml
Feb 1st 2013, 05:45
2013-02-01 14:45 China Daily Web Editor: qindexing
comment
China's first methionine plant will be put into operation soon, ending the country's dependence on imports of the important supplement used in animal feed additive.
The plant in Nanjing, Jiangsu province, is a joint venture by China National BlueStar Co Ltd and its fully owned French subsidiary Adisseo Group.
The factory, owned by Bluestar Adisseo Nanjing Co Ltd, or Adistar, will have an annual production capacity of 70,000 metric tons in the initial stage.
China needs about 120,000 tons of methionine annually, and is totally dependent on imports, according to Bluestar.
"The total production capacity of the plant is expected to be 140,000 tons a year to meet the growing demand both in China and in other Asian countries," said Ru Chengjun, executive vice-general manager of Adistar.
The plant will become one of the lowest-cost liquid methionine production facilities in the world when it's operating at full capacity, Ru said.
The new plant is just part of the company's overseas strategy.
As a subsidiary of the State-owned China Chemical Corp, or ChemChina, Bluestar acquired the then third-largest methionine producer in the world, Adisseo, for $565.4 million in January 2006, in China's largest overseas mergers and acquisitions deal in France.
After the acquisition, the company helped Adisseo France turn from losses into a profit in fours years.
It also merged the Nanjing plant with Adisseo France, making it another overseas plant of the French company.
"Overseas M&A deals are only the first step. The key is to achieve the integration of different cultures and ways of doing things," said Ren Jianxin, general manager of ChemChina.
ChemChina has six overseas companies it acquired through M&A in recent years and owns production bases, research and development centers and marketing offices in up to 140 countries and regions.
"Many French employees applied to work in China to support the construction of the Nanjing plant," said Peng Haitao, director of the production preparation department at Adistar.
"Even though some of them couldn't make it due to family reasons and some other reasons, it showed their willingness to cooperate," said Peng.
"Now Adistar has interpreters speaking French, Spanish and English to meet the foreign employees' needs. Adistar once had people from as many as 22 countries and regions working on the same project."
As the world's best-known animal nutrition firm, Adisseo France has advanced technologies and marketing strategies. The parent company just needs to give its support and trust to help it develop, said Ren.
"To successfully merge a Chinese company with a foreign one, people should not only think about their own needs," said Ren. "The right way is to find a way that can combine the two companies together to realize a win-win situation.
"Chinese companies are still at the initial stage of their global expansion. By learning and communicating, Chinese companies and foreign ones can achieve mutual understanding that will benefit both," he added.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
ecns
First methionine plant to begin operations soon
http://www.ecns.cn/business/2013/02-01/48417.shtml
Feb 1st 2013, 05:45
2013-02-01 14:45 China Daily Web Editor: qindexing
comment
China's first methionine plant will be put into operation soon, ending the country's dependence on imports of the important supplement used in animal feed additive.
The plant in Nanjing, Jiangsu province, is a joint venture by China National BlueStar Co Ltd and its fully owned French subsidiary Adisseo Group.
The factory, owned by Bluestar Adisseo Nanjing Co Ltd, or Adistar, will have an annual production capacity of 70,000 metric tons in the initial stage.
China needs about 120,000 tons of methionine annually, and is totally dependent on imports, according to Bluestar.
"The total production capacity of the plant is expected to be 140,000 tons a year to meet the growing demand both in China and in other Asian countries," said Ru Chengjun, executive vice-general manager of Adistar.
The plant will become one of the lowest-cost liquid methionine production facilities in the world when it's operating at full capacity, Ru said.
The new plant is just part of the company's overseas strategy.
As a subsidiary of the State-owned China Chemical Corp, or ChemChina, Bluestar acquired the then third-largest methionine producer in the world, Adisseo, for $565.4 million in January 2006, in China's largest overseas mergers and acquisitions deal in France.
After the acquisition, the company helped Adisseo France turn from losses into a profit in fours years.
It also merged the Nanjing plant with Adisseo France, making it another overseas plant of the French company.
"Overseas M&A deals are only the first step. The key is to achieve the integration of different cultures and ways of doing things," said Ren Jianxin, general manager of ChemChina.
ChemChina has six overseas companies it acquired through M&A in recent years and owns production bases, research and development centers and marketing offices in up to 140 countries and regions.
"Many French employees applied to work in China to support the construction of the Nanjing plant," said Peng Haitao, director of the production preparation department at Adistar.
"Even though some of them couldn't make it due to family reasons and some other reasons, it showed their willingness to cooperate," said Peng.
"Now Adistar has interpreters speaking French, Spanish and English to meet the foreign employees' needs. Adistar once had people from as many as 22 countries and regions working on the same project."
As the world's best-known animal nutrition firm, Adisseo France has advanced technologies and marketing strategies. The parent company just needs to give its support and trust to help it develop, said Ren.
"To successfully merge a Chinese company with a foreign one, people should not only think about their own needs," said Ren. "The right way is to find a way that can combine the two companies together to realize a win-win situation.
"Chinese companies are still at the initial stage of their global expansion. By learning and communicating, Chinese companies and foreign ones can achieve mutual understanding that will benefit both," he added.
Copyright ©1999-2011 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
You are receiving this email because you subscribed to this feed at http://blogtrottr.com
If you no longer wish to receive these emails, you can unsubscribe here:
http://blogtrottr.com/unsubscribe/qhG/Zc7fXt
Subscribe to:
Posts (Atom)