Bloomberg reported Chinese government is consolidating a range of industries, including automating, in a bid to produce more advanced and profitable goods. The statement said the nation's 14 biggest automakers will be combined into 10 companies. Shanghai Automotive Industry Corp. China FAW Group Corp, Dongfeng Motor Corp and Changan Automobile Ltd will be encouraged to buy rivals nationwide. According to…

Securities Times quoted Ministry of Finance as saying that China will further adjust its import and export taxes since January 1st 2010. . All those duties as most favored nation tariff, provisional export tax, conventional tariff, preferential tariff are involved. As reported, the average tariff rate will stay at 9.8% after the adjustment. In the meantime, the country will continue its provisional export…

China Daily reported that China wind power companies expect to see little impact from the recent news that the country will end industry subsidies because of the investigation launched seven months ago following complaints from US manufacturers. Mr Shi Pengfei vice president of the China Wind Energy Association said "It is understandable that the Chinese government is ending subsidies to an industry that is…

Shanghai Securities News reported, citing unidentified sources that China will encourage consolidation among its non-ferrous metal industry, part of a series of measures to help a slowing economy. The newspaper said China expects to see three to five major non-ferrous metal groups that will account for 90%, 70% and 60% respectively, of the country's production of copper, aluminum and zinc by 2011. It said…

National Bureau of Statistics reported China has churned out 338,300 tonnes of copper in April up by 6%MoM and 2.9%YoY. It is also the second highest monthly output in China, just after 357,700 tonnes in October 2007. Statistics shows that the total copper production reaches 1.26 million tonnes in the first four months up by 6.7%YoY. At the beginning of this year, China's copper enterprises slowed down…

The Chinese auto market is on track to contract for second year, dragged down by weak demand in the face of cooling economic growth and a tariff war with Washington. Drivers bought 1.9 million sedans, SUVs and minivans, according to the China Association of Automobile Manufacturers. CHINESE EXPORTS IN TROUBLE AS TRUMP'S TRADE WAR TAKES HOLD Sales growth has been in negative territory every month since June…

Last week, 2 new sets Weijin Degating Hammer started running at Shandong ConMet-Xin foundry. ConMet-Xin foundry is controlled by ConMet (US company) with 70% of shares, and ShangDong HaoXing Group with 30% shares. ConMet-Xin mainly produce components for heavy duty truck, such as wheel hubs, brake drums. It is not the first time for Weijing to provide pneumatic hammer to ConMet-Xin foundry. First 4 sets…

Growth at Chinese die-cast machinery maker LK Technology Holdings Ltd will be driven by its recent Italian acquisition. "Newly acquired Idra - a leading Italian die-casting machine maker - and expanding machine production capacity will fuel growth," ICEA (Industrial and Commercial East Asia Finance Holdings Ltd) said. L.K. Technology Holdings Limited signed an agreement to acquire 70% stake in Idra S.r.l.…

- China growing aluminium capacity - Vast coal resources to power smelters - Plans will transform global industry - Price pressures to continue Deep in north-western China lies a region where there is 1.16 trillion tonnes of very cheap thermal coal. China is planning to use this coal to power and develop a significant aluminium production capacity. Commonwealth Bank analysts have been there and seen the…

China's Yuchun Nonferrous metal company in Baoding, Hebei province, is planning to shut down its aluminium alloy production for one week in a bid to reduce pollution as the ongoing Olympics continue in Beijing, a company source said Tuesday. "We are planning to shut down the day after tommorrow, though it's not confirmed yet. As we are very near Beijing, about 100 km away, we already expected that me might…