China Industry: May 13

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May 13 – This is a regular series of relevant industry news from around China.

Solar power

Wang Zhongying, assistant director of the Energy Research Institute of the National Development and Reform Commission, said that China plans to boost its solar power capacity to 10–20 GW by 2020. Initially, the country planned to have 300 MW by 2010 and 1,800 MW by 2020.

Swiss solar energy group 3S Industries AG announced last Monday it is expanding its presence in Asia, as part of an international growth strategy. The company has set up an office in Kunshan, eastern China, and subsidiaries in Singapore and Hong Kong. The expansion is expected to enable the company to provide customer-oriented sales of its automatic string soldering machines, laminating lines, testers and solar modules in the Asian growth markets.

Suntech Power Holdings has joined the PV CYCLE association which is engaged in establishing voluntary take-back and recycling programmes for end-of-life photovoltaic (PV) modules.

Air transport

China Southern Airlines has obtained RMB50 billion in loans and lease financing from Industrial & Commercial Bank of China.

Bank of Communications and China Southern Airlines have inked an agreement, under which China Southern will obtain a RMB15 billion credit line. The money will be used for aircraft financing and leasing as well as discounted-bill financing.

Hainan Airlines has reduced its order of ERJ-145 aircraft from Harbin Embraer Aircraft Industry Company to 25, down from 50.

The international airport of Shijiazhuang, Hebei province, saw its passenger volume reach 284,800 person times in the first quarter of 2009, 38.9 percent more than the same period last year. Domestic mail and cargo volume was 3,219.8 tons, an increase of 18 percent.

Korean Air plans to start flying from Seoul to Xi’an and from Seoul to Mudanjiang in Heilongjiang at the end of May.

Wind power

China Windpower Group Limited has inked a contract with Liaoning Energy, under which the two parties will establish joint ventures to create wind power plant projects in China. Initially, the JVs will aim at 50 MW of installed capacity. Each of them will start with RMB500 million intended for investments and RMB100 million as registered capital.

This industry report brief is courtesy of Aii Data Processing.