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14 BUSINESS Tuesday, May 29, 2018 CHINA DAILY

Industrial internet development efforts powering ahead

By CHENG YU and broader effort to advance the Made ence and Industry Corp (CASIC) placeable areas,” said Gao Hong-
YANG JUN in Guiyang in China 2025 plan to bolster compet- China has accumulated more than and Sany Heavy Industry Co Ltd, wei, chairman of CASIC.
itiveness in advanced manufactur- have beefed up their presence in the Faced with such challenges, Gao
China is stepping up efforts to ing. To be specific, China is expected 30 industrial internet platforms with industrial internet segment in the said that the company is seeking to
develop the industrial internet, with to lead the world in key sectors of the past few years. help Chinese companies to gradual-
the recent approval of two impor- industrial internet by 2035.
certain size and commercial capacity.” CASIC, one of the nation’s major ly transform so that the country’s
tant action plans for the industrial The industrial internet refers to a space contractors, for example, has industrial sector can move from
Liu Jie, deputy head of the telecommunication management department of the
internet, an official from the Minis- network of combined, advanced so far attracted 1.65 million regis- cloud manufacturing to collabora-
Ministry of Industry and Information Technology
try of Industry and Information machines with internet-connected tered users with the total transac- tive manufacturing, and finally into
Technology said on Sunday. sensors and big-data analytics, tion amount exceeding 400 billion smart manufacturing.
The three-year development plan which is of great significance to yuan ($62.6 billion). More than “We have also served a large num-
and the work plan for the leading boosting the productivity, efficiency joined the industrial internet alli- ing and the internet, we are 13,000 overseas companies have ber of small and micro companies
working group on the industrial and reliability of industrial produc- ance,” he said. expected to ramp up efforts in also registered its platform. by helping them embrace cloud
internet were recently approved to tion. Liu made the remarks at the 2018 cooperation between the internet “China has taken the ‘last train’ computing, big data and other cut-
guide and accelerate the develop- “China has accumulated more China international big data indus- and manufacturing companies, of the industrial revolution, the ting-edge technologies, as small and
ment and application of advanced than 30 industrial internet plat- try expo in Guiyang, Guizhou prov- and will accelerate the research ‘fast train’ of the internet revolu- micro companies account for 85
manufacturing, said Liu Jie, deputy forms with a certain size and com- ince, which aims to enhance and development of core technolo- tion, and finally made its way into percent of the total industrial regis-
head of the telecommunication mercial capacity. Moreover, more international exchange and cooper- gies,” he added. the ‘first-class cabin’ of the mobile tered platform users,” he added.
management department of the than 630 companies and institutes ation in the development of the big Though the sector is still in its internet. But we should notice that
MIIT. in fields including manufacturing, data industry. infancy, a group of Chinese compa- there is lack of key products and Contact the writers at
The move is part of the nation’s automation and the internet have “As a power in both manufactur- nies, including China Aerospace Sci- technologies in an array of irre-

What’s news

its demand for Vietnamese tra fish

Machine learning will expand in the second quarter of

London house prices

fall most since 2009
GOVT AND POLICIES House prices in London tumbled
in March, with the annualized rate
of inflation dropping to minus 0.7
PBOC injects liquidity percent, the steepest fall since
via reverse repos 2009, according to the latest offi-
The central bank on Monday inject- cial Land Registry figures for
ed funds into the banking system via March. The falls in the British cap-
open market operations to maintain ital contrast with continued rises
liquidity. The People’s Bank of China across the rest of the country, with
conducted 20 billion yuan ($3.13 bil- the overall rate of house price
lion) of seven-day reverse repos and inflation at 4.2 percent, with the
10 billion yuan of 28-day reverse rep- highest rise in Scotland at 6.7 per-
os, according to a central bank state- cent. The British Office for Nation-
ment. A reverse repo is a process by al Statistics, which compiles the
which the central bank purchases house price index based on Land
securities from commercial banks Registry data, said prices in Lon-
through bidding, with an agreement don have been falling since the
European Union referendum in
to sell them back in the future. The
June 2016.
interest rate for the seven-day
reverse repos stood at 2.55 percent,
while the rate for 28-day contracts Slovakia enjoys higher
was 2.85 percent. inflows of tourists
Slovakia registered a record number
Lenders’ liabilities, of 5.4 million tourists, both domestic
assets recover in April and foreign, in 2017, up 7 percent
year-on-year, local media reported.
China’s banking institutions saw
Slovak tourists made up 60 percent
their assets and liabilities contin-
of all tourists with 3.2 million regis-
ue to expand in April compared
tered. Among the foreign tourists,
with a year earlier, according to
Czech visitors topped the list with
the China Banking and Insurance
more than 645,000, which was fol-
Regulatory Commission. The insti-
Youngsters operate a model giant wheel gear at the stand of Hefei Panshi Automation Technology Co Ltd at the World Manufacturing Convention 2018 lowed by Poles, Germans, Hungari-
tutions had combined assets of
held in Hefei, Anhui province, between Friday and Sunday. ZHANG DAGANG / FOR CHINA DAILY ans and Austrians.
248.6 trillion yuan ($38.9 trillion)
as of the end of April, up 7.2 per-
cent year-on-year, the data show. Moldova planning to
Their total liabilities reached hold economic forum
228.5 trillion yuan, up 6.8 percent. A Moldovan-Russian economic
ing the World Manufacturing Con- na’s spot foreign exchange market, the 200th member of its fleet as its first step in opening the domestic
Commercial banks had a total of forum will be held in the Moldovan
vention held in Hefei, capital of the yuan is allowed to rise or fall by 2 first Boeing 737 MAX aircraft started ratings market to foreign players.
192.4 trillion yuan in assets, up 6.4 Anhui province, with a total invest- percent from the central parity rate commercial flight on Sunday. With a Previously, foreign ratings agencies capital of Chisinau this year, TASS
percent year-on-year, while their ment volume of 447 billion yuan each trading day. white egret logo on its tail fin, the could only hold minority stakes in news agency reported, citing Moldo-
liabilities increased 6 percent to ($70 billion), local authorities said. latest model of the Boeing 737 family joint-venture operations in China. van President Igor Dodon. The
reach 177.2 trillion yuan. The investments cover electronic started its maiden trip for Xiamen forum will be held on Sept 20-22,
information and home appliances,
CSRC approves two Airlines on a direct air route from with the participation of potential
Beijing conference to new materials and new energy, new IPO applications Xiamen to the eastern city of Shang- Russian investors, he said.
focus on system safety equipment manufacture, and auto- The securities regulator has hai. “Born in 1984 in the Xiamen
making, as well as biological medi- approved new IPO applications Special Economic Zone, Xiamen Air- Tequila makers bullish
Industrial control systems are cine, said Deng Xiangyang, vice- from two companies, which will lines is the epitome of China’s sur-
gradually being transformed from governor of East China’s Anhui raise about 2.7 billion yuan ($429 ging civil aviation amid the country’s on 3.2% uptick in sales
closed and isolated systems into province. More than 4,000 repre- million) in the A-share market. Yiji- reform and opening-up,” said Che AROUND THE WORLD Global consumption of Mexico’s
open and interconnected plat- sentatives from 75 countries and ahe Technology Co Ltd and China Shanglun, chairman of Xiamen Air- national spirit Tequila has increased
forms, led by initiatives such as the regions attended the convention. Securities Co Ltd will be listed on lines. fast, estimated to grow 3.2 percent
Made in China 2025 strategy and the Shanghai Stock Exchange, the
Vietnam’s tra fish annually by 2021, Mexico’s National
Germany’s Industry 4.0 concept. China Securities Regulatory Com- exports surge 43% Tequila Industry Chamber said. The
The Chinese Association of Auto- mission said over the weekend. The
Ratings agencies to Vietnam exported $145 million projection indicates the second big-
mation and a number of partner firms and their underwriters will consolidate presence worth of tra fish (pangasius) to Chi- gest growth for a spirit on the global
associations and companies held confirm IPO dates and publish pro- International ratings firms are plan- na in the first four months of this market in the near future, only
the 2018 Industrial System Safety spectuses following discussions ning to set up independent bran- year, up 43 percent year-on-year, behind whisky’s 3.4 percent, accord-
Conference in Beijing recently to with the exchanges. Under the cur- ches in China as the nation according to the Vietnam Associa- ing to the chamber’s president
discuss how to prevent potential rent IPO system, new shares are continues to open up its financial tion of Seafood Exporters and Pro- Rodolfo Gonzalez. “By 2021, global
risks during business operations, COMPANIES AND MARKETS subject to approval from the CSRC. market. Standard & Poor’s seeks to ducers. With the turnovers, China tequila consumption is forecast to
with new topics involving internet China is gradually switching from set up a stand-alone ratings firm in surpassed the United States to reach 34.7 million nine-liter cases,
of things, cloud computing, big an approval-based IPO system to a China, while Fitch Ratings also become Vietnam’s largest tra fish compared with the more than 31
data, blockchain, 5G, mobile inter-
Renminbi weakens more market-oriented one based on plans to apply to Chinese regulators importer in the four-month period, million cases consumed in 2017,”
net and artificial intelligence. against US dollar registration. for such a license, according to a VASEP said on Friday, adding that Gonzalez told a news conference, cit-
The central parity rate of the ren- report in the Shanghai Securities Vietnam is currently the third-larg- ing the latest report by the London-
minbi weakened 95 basis points to News. China’s central bank rolled est provider of white fish for China, based International Wine and Spirit
436 manufacturing Xiamen Airlines adds after Russia and Norway. VASEP Research.
6.3962 against the US dollar on out rules on interbank bond market
projects signed in Hefei Monday, according to the China For- Boeing 737 MAX to fleet credit ratings services by foreign considered China a key market for
A total of 436 deals were signed dur- eign Exchange Trade System. In Chi- China’s Xiamen Airlines welcomed ratings firms last July, marking the tra fish export this year and forecast CHINA DAILY — AGENCIES

Logistics businesses bank on digital supply chains for tech innovation

By LIU YUKUN Gengzhong, deputy head of China tics, at a recent industry forum. JD Logistics, a subsidiary of and fruit online purchases, for ments for delivery time and temper- Society of Logistics, said at a recent Feng added that the booming dig- e-commerce giant JD, invested instance, has challenged the indus- ature.
industry forum in Xi’an, Shaanxi ital innovation in China’s logistics $306 million in ESR Caymen Ltd, a try due to special packing and tem- “Healthcare is also one of the fast-
Logistics companies in China are province. industry has provided renewed pan-Asia logistics group, earlier perature requirements. Cold chain est growing sectors in Asia-Pacific,
increasingly relying on tech innova- JD Logistics, for example, has momentum for the country’s e-com- this month, just a week after it logistics, which also deals with food and its demand for logistics, like
tion, related to supply chains, to teamed up with the Shaanxi govern- merce and cross-border trade. acquired a 10 percent stake in wastage, is now gaining ground medicine and medical equipment
cater to the growing needs of e-com- ment to adopt unmanned aerial According to data released Hong Kong-listed China Logistics with logistics service providers. shipping, is rising,” said Karen Red-
merce and cross-border trade plat- vehicles, or drones, for local logistics from online research center chi- Property Holdings Co Ltd for $115 According to Business Wire, an dington, president for the Asia-Pa-
forms. networks from 2017. Best Express,, China’s logistics million. online news platform, many logis- cific sector at global logistics
Digitalized supply chain, a another major logistics provider, industry earned revenues of 342.5 JD’s major rival, Alibaba Group tics companies are implementing company Fedex Corp.
broader concept for how technolo- has developed an AI-based net rout- billion yuan ($53.6 billion) dur- Holding Ltd, has poured over $6 bil- the blockchain technology to “Delivery of pharmaceutical
gies like cloud-based systems, data ing algorithm that enables a 5 per- ing the first three quarters of lion into the Indonesian e-commerce enhance efficiency in the supply materials can be tricky and needs
analysis, and artificial intelligence cent reduction in annual operating 2017, with e-commerce account- and logistics sector through invest- chain. It also forecasts that the proper deployment of cold chain
have reshaped supply chain opera- costs. ing for over 70 percent of the total ments in Lazada and Tokopedia. cold chain market in China will logistics,” Reddington added.
tions, is now the top priority for “Digitalization of supply chains orders. Feng said the increased use of grow at a compound annual “In response, we have expanded
most of the major logistic compa- will help raise working efficiency, “Chinese e-commerce firms have e-commerce in various fields is cre- growth rate of over 13 percent from our tailored solutions for the sector
nies. reduce operating costs and enhance been rapidly increasing their pres- ating great opportunities and chal- 2018 to 2022. to provide real-time tracking and
“China’s logistic industry is working performance,” said Sun ence in the global market,” said lenges for the logistics industry. Healthcare is another example of updates on information such as
becoming more tech savvy,” Feng Guiyu, vice-president of JD Logis- Feng. The growing demand for food a sector that has special require- temperature,” Reddington said.