Sun, 01 Nov 2020

Weekly snapshot of China's local business news

02 Aug 2020, 18:51 GMT+10

BEIJING, Aug. 2 (Xinhua) -- The following are highlights of China's local business news from the past week.


China's leading liquor producer, Kweichow Moutai, said its net profit rose by 13.29 percent year on year to 22.6 billion yuan (about 3.2 billion U.S. dollars) in the first half of 2020.

The company also said in its H1 earnings report that it generated operating revenue of 43.95 billion yuan, an annual increase of 11.31 percent.


China has developed a high-power electric locomotive, marking a major breakthrough in the country's railway technology.

On Wednesday, an electric locomotive with a single-unit power of 28,800 kW and a traction force of 2,280 kN rolled off the production line of CRRC Zhuzhou Locomotive Co., Ltd. Dubbed "Shen-24", the locomotive has a maximum speed of 120 kph and can pull a 10,000-ton freight train on a 1.2 percent slope.


The China-Central Asia Gas Pipeline has delivered over 19 billion cubic meters of natural gas to China in the first half of this year, the PetroChina West Pipeline Company said Thursday.

The pipeline runs from the border between Turkmenistan and Uzbekistan, passes through Uzbekistan and Kazakhstan and links up with China's West-to-East Gas Pipeline in Khorgos of Xinjiang Uygur Autonomous Region.


China's gaming industry saw an actual sales revenue of 139.49 billion yuan (about 19.96 billion U.S. dollars) in the first half of this year (H1), up 22.34 percent year on year, said an industry report released at the China Digital Entertainment Congress in Shanghai on Thursday.

The number of game users in China reached nearly 660 million in H1, up 1.97 percent year on year, the report said.


China plans to launch a real-name authentication system for online games before September to prevent gaming addiction among teenagers.

Feng Shixin, an official with the Publicity Department of the Communist Party of China Central Committee, told a forum of the ChinaJoy Expo Thursday in Shanghai that gaming companies will be asked to join the system after its launch.


Guangzhou, capital of south China's Guangdong Province, announced Thursday that its hydrogen energy industry is expected to reach 200 billion yuan (about 28.6 billion U.S. dollars) by 2030.

Guangzhou plans to build a hydrogen energy industrial chain with a production value of over 60 billion yuan by 2025, and an industrial system that consists of production, storage, transaction and application with an output value of 200 billion yuan by 2030, Chen Jianrong, deputy director of Guangzhou Municipal Development and Reform Commission, told a press conference.

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