Archive for August, 2010

• learn Chinese online – Rio Tinto warns of uncertain outlook for mining industry in Australia

  Date: 2010.08.28 | Category: Chinese Mandarin, Chinese Online Class, Chinese School, Chinese Tutor, Chinese language, Learn Chinese Class, Study Chinese, learn Chinese, learn Chinese online, learn Mandarin online, learn mandarin | Response: 0

  The head of Rio Tinto, Tom Albanese on Thursday said uncertainties in the mining industry are on the horizon from the global financial crisis, the Australian government’s proposed mining tax and climate change.

  Albanese, in Brisbane addressing a lunch for Australian Institute of Company Directors (AICD), said despite the negatives, the potential for long-term growth remains strong.

  The proposed mining tax had put a question mark over Australia’ s international competitiveness.

  “Mining taxation is an important issue that has clear implications for our industry’s future, both in Australia and on the international front,” Albanese told Herald on Thursday.

  “Any discussion of taxation policy must take into account international competitiveness.”

  Also, Albanese said Australia must be prepared to confront the issues and take a joint leadership position with governments and external stakeholders on key, complex matters relating to the environment and sustainable development. And part of that challenge has been climate change.

  Albanese believes a market-based mechanism should be used to address the climate problem, but said Australia should not be ” leading too far ahead” or industries could go elsewhere.

  Meanwhile, Australia’s economy had held up well but concerns over China’s growth and a nervousness about a possible double-dip recession in Organization for Economic Cooperation and Development (OECD) countries continued to affect the market.

  “However, for the metals imported by China, demand has kept prices well above historical averages,” Albanese said.

  “This continuing commodity demand, against a backdrop of uncertainty in many markets will ensure volatility remains part of our operating environment in the near future.”

  In response to a question from the audience, Albanese said a hung federal parliament would not be a risk to Australia’s investment stability, because the United Kingdom had experienced the same election challenge.

  While Rio Tinto remains cautious about the short-term outlook, from its perspective, 2010 is shaping up well.

  Rio Tinto’s first-half results, exceeded expectations in terms of financial performance with underlying earnings of 5.8 billion U. S. dollars, more than double the first half of 2009.

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• hina Travel – Chinese premier stresses merger and acquisition of coal mine industry

  Date: 2010.08.27 | Category: Chinese Mandarin, Chinese Online Class, Chinese School, Chinese Tutor, Chinese language, Learn Chinese Class, Study Chinese, learn Chinese, learn Chinese online, learn Mandarin online, learn mandarin | Response: 0

  BEIJING, Aug. 25 (Xinhua) — The Chinese government on Wednesday stressed the need for the country’s coal mine enterprises to continue with mergers and acquisitions for the healthy development of the industry.

  The statement was issued following an executive meeting of China’s State Council, or Cabinet, which was chaired by Premier Wen Jiabao on Wednesday.

  Low centralization, wasting of resources, environmental pollution, disordered mining and frequent industrial accidents are challenging China’s coal mine industry, according to the statement.

  China supports competent state owned or private coal mine enterprises to initiate mergers and acquisitions under the joint-stock system to push forward the development of a modern coal mining industry.

  The government will also introduce preferential measures on finance and taxation to support the upgrade of safety technologies of the merged enterprises, said the statement.

  Further, the central government will protect workers and investors’ rights by law during the merger and acquisition process, it said.

  The meeting also stressed the importance of developing the inland river transport system during the next decade.

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• China Business – China to lift installed hydropower capacity by 50% on emissions concerns: energy chief

  Date: 2010.08.26 | Category: Chinese Mandarin, Chinese Online Class, Chinese School, Chinese Tutor, Chinese language, Learn Chinese Class, Study Chinese, learn Chinese, learn Chinese online, learn Mandarin online, learn mandarin | Response: 0

  China will expand its installed hydropower capacity to 300 million kilowatts by 2015 from the current 200 million in an effort to cut carbon dioxide emissions, the country’s top energy official said here Wednesday.

  Zhang Guobao, director of the National Energy Administration (NEA), told the popular web port Sina.com in an on-line interview that such an expansion is needed for China’s goal to reduce its carbon dioxide emissions per unit of gross domestic product (GDP) by 40 to 45 percent by 2020.

  China promised at the Copenhagen Conference on global climate change last year that it would generate 15 percent of its power from non-fossil sources by 2020, up from the current 7.8 percent.

  “We will take the initiative to deliver that promise even though the task is not easy at all,” Zhang said. “But we still have a lot of basic work to do.”

  China has long relied on coal to fuel its economic growth as about 83 percent of its electricity output is produced by coal-fired power stations.

  China’s non-fossil sources-generated energy include hydropower projects, nuclear power stations, wind power and solar plants, with hydropower accounting for about three fifths of the total.

  Zhang said China would step up its efforts to develop hydropower projects across the country under stricter approval procedures, which focus on the protection of the environment, rights of relocated immigrants and land resources.

  Of China’s 542 million kilowatts of exploitable hydroelectric potential, only 400 million kWh is suitable for hydropower construction, Zhang said.

  “So China can only develop a maximum of 400 million kWh of installed hydropower capacity,” Zhang said. “The final hydropower generation would likely be between 300 million and 350 million kWh.”

  Zhang said the NEA is still studying the feasibility of raising the on-grid price for hydropower to the same rate as electricity produced by thermal power plants.

  Such proposal, if adopted, would benefit hydropower operators but increase costs for grid operators and the public.

  “Views on raising the on-grid price for hydropower vary among different government departments, and the public at large,” Zhang said. “We should take into account what society can afford.”

  China’s feed-in tariff for hydropower projects is mostly between 0.2 yuan and 0.3 yuan per kWh, but the rate for coal-fired power plants ranges higher between 0.3 and 0.4 yuan per kWh. Feed-in rates for wind and solar power are even higher.

  China maintains rigid price controls on energy resources including power, gas and oil. On-grid power prices often vary by plant and retail rates differ between region, industry and even users.

  Any electricity rate hike must be approved by the National Development and Reform Commission, China’s top economic planner. Zhang himself is also deputy director of the commission.

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