Top 10 Daily Business China News Alerts 04/23/1975
by Tom McGregor
Wed, Apr 22, 2015, 09:28 PM
Stay Updated on Real China Business News at Real Time
1.Volvo Localizes Balancer Shaft Supply in China with Jebsen Automotive Technik
DALIAN, China, April 23, 2015 /PRNewswire/ -- Swedish carmaker Volvo Car Corporation and Mitec-Jebsen Automotive Systems (Dalian) have entered into a partnership to support the manufacture of the balance shaft for Volvo's new GEA3 engine and the production will be started in 2016.Mitec-Jebsen, a joint venture of Jebsen Automotive Technik (JAT) and MITEC Automotive AG, will supply 220,000 balancer systems for the GEA3 every year from 2016 to 2022, manufacturing and integrating balancer shafts, oil pump steel gears and crankshaft gears.
2.Diablo III(R): Reaper of Souls(TM)? China Open Beta Now Live
SHANGHAI, April 22, 2015 /PRNewswire/ -- Blizzard Entertainment, Inc. and NetEase, Inc. (NASDAQ: NTES) today announced that Sanctuary's gates have been thrown open to all Chinese heroes, as open beta testing for Blizzard Entertainment's award-winning action role-playing game Diablo III®: Reaper of Souls™ is now live in China. Players throughout China are now able to join the army of nephalem and embark on a challenging journey to save Sanctuary from the demonic forces of the Burning Hells!
Lenovo, China's leading personal computer maker, began recalling a large amount of defective batteries for its ThinkPad laptops in China on Tuesday, the country's top quality watchdog said Wednesday.The recall involves 89,653 lithium ion batteries in more than 30 models under the Edge, T, S, W and L series manufactured between October 2010 and June 2012, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement.
Mark Mobius, the father of emerging markets funds at Franklin Templeton Investments, has made an ugly U-turn.Only two weeks ago, he warned the A-share market was so overheated that it was about to correct by up to 20 percent.But this week, he asked investors to sell US stocks to invest in China.
Inconvenience about charging was one of the major reasons stopping people from buying new energy cars, according to a survey released yesterday.The survey conducted by the Shanghai Statistics Bureau found 46.1 percent expressed worries about charging the environmental friendly cars.A Roewe E50, for instance, can cover 120 kilometers after charging for six to eight hours. There are quick charge options for charging as well but travel time would most likely be less.
4.China No Longer Easy Bet as BMW, Honda Cut Vehicle Prices
(Bloomberg) -- China used to be the no-brainer market for automakers, with rising incomes creating millions of first-time buyers. That view is under siege, with carmakers cutting prices and output as the industry scales back growth forecasts.Bayerische Motoren Werke AG will reduce output this quarter and has lowered prices on some models to adjust to the “new normal,” Karsten Engel, the company’s China chief, said at this week’s Shanghai auto show. Vehicle sales in China this year may rise by less than the 7 percent projected in January, the China Association of Automobile Manufacturers said Tuesday, without making a new forecast.
Tomorrow, April 23, marks the 20th World Book Day. But are printed books still popular among today's readers?The 12th National Reading Survey, released by the Chinese Academy of Press and Publication on April 20, shows for the first time the number of people who read electronic books exceeds the number of those who read printed books in 2014. The average Chinese person read 7.78 books last year, including 4.56 printed books and 3.22 electronic books, and people who read on mobile devices, such as computers, cellphones or tablets, reached 58.1 percent, exceeding the number of people who read printed books by 0.1 percent.
6.Sold-in-China doesn't—and shouldn't—mean the end of Made-in-China
Since the dawn of the industrial revolution in England in the late 18th century, the manufacturing and production of mass market goods has predictably moved around the world to the countries where conditions mixed for an ideal low cost manufacturing economy.
7.China to Standardize Energy Conservation By 2020
China will put in place a system of conservation standards to cap energy consumption for all major energy-intensive industries by 2020, according to a circular issued by the State Council, China's cabinet, on Saturday.According to the circular on boosting work to standardize energy conservation, 80 percent of the country's energy efficiency standards should be on par with international standards in the same time frame.
Female assistants shine at the 16th Shanghai International Automobile Industry Exhibition. China's biggest auto show, which kicked off on Monday, said previously that there would be no models alongside automobiles. The exhibition attracts nearly 2,000 auto companies from 18 countries and regions. Domestic and foreign car makers display 1,343 car models, 209 more than last year's event held in Beijing. [Chinanews.cn]