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China News
     

 

 

 

*** Hainan to Construct Nuclear Power Plant

>>more>>

 

***  Anti-monopoly Law to Take Effect on 1th August 2008

>>more>>

 

***China to strengthen foreign investments management

>>more>>
 
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CHINA NEWS

 

1  Hainan to Construct Nuclear Power Plant

 

The plant in Changjiang county, west Hainan, will consist of two pressurized water reactors, each with a capacity of 650 megawatts. More than 70 percent of the plant's equipment will be manufactured in China. It will be built by China National Nuclear Corp (CNNC).

The Changjiang nuclear project will boost Hainan's efforts to become an ecological province and boost its need for more power supply. Hainan has been suffering from power shortages since 2006, mainly due to its slow expansion of coal and gas-fired power plants. The province was hit by power shortages totaling 390 megawatts last year. CNNC has already spent more than 16 million yuan ($2.3 million) on feasibility studies. CNNC will formally start building the plant by the end of next year, and it is expected to come into operation in late 2014.

 

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Anti-monopoly Law to Take Effect on 1th August 2008

 

The country's first anti-monopoly law, which was proposed 15 years ago and was not passed until last year, takes effect on 1th August 2008.

Foreign investors should take the law as a positive sign for their future investment in China. The new anti-monopoly law establishes a basic framework to build a fair, uniform and national competition law system that benefits consumers by recognizing and preserving incentives to compete.

According to sources, three government bodies - the Ministry of Commerce, the National Development and Reform Commission and the State Administration for Industry and Commerce - will enforce the law.

 

 

 

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China to strengthen foreign investments management

 

China is further consolidating foreign investment projects administration, monitoring inflow of foreign monies for a better control.

The move will also enhance the nation’s economy safety, protect ecological environment, optimize develop and reform mechanism, and prevent industrial monopolization, said the National Development and Reform Commission (NDRC).

Projects that are not approved by the Government, where forged application documents were submitted, or where foreign exchanges were improperly used, will be punished.

Local governments will also investigate and supervise programs related to foreign enterprises, including joint-ventures, wholly foreign-owned enterprises, bilateral cooperation projects, mergers and acquisition programs.

Regional economic regulators should also monitor investment projects, oversee foreign exchange inflow means, and enhance of foreign enterprises’ financial monitoring.

Projects causing severe environment contamination, high in energy consuming or in resources consuming shall be monitored and controlled in an even strict manner.

 

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