China Industry Report: Nov. 18

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Nov. 18 – This is a first in regular series of relevant industry news from around China.

Wind power
China Wind Systems Inc. posted a US$1.86 million net income for the third quarter of 2008, compared with US$8.12 million for the same period of 2007.

Solar power
The Chinese Academy of Sciences’ Institute of Electrical Engineering and the U.S. National Renewable Energy Laboratory have reached an agreement to jointly carry out research on photovoltaic (PV) power generation technologies.

Wuhan Shenghuasheng Science & Technology Co. Ltd.’s first photovoltaic generator with tracking system in Hubei Province has commenced operation. It is expected to generate between 40 percent and 80 percent more power than the PVs with fixed systems.

Air transport
China Eastern Airlines and China Southern Airlines will each receive RMB3 billion of government funding. The injection is expected to aid difficulties over fuel costs and decreased market demand. Hainan Airlines Group, China Minmentals Corporation, and the municipal government of the city of Yingkou, Liaoning Province, have reached an agreement to jointly establish an airport, to be situated in the Chinese port city.

Taiwan-listed Eva Airways Corp said that beginning in December, it plans to initiate direct daily flights to Mainland China. With this move, the company will gain access to cities such as Shanghai, Hangzhou and Shenzhen.

This industry report brief is courtesy of Aii Data Processing.