The following are highlights of China's economic news reported on February 16:
INTEGRATION OF QINGHAI, TIBET POWER GRIDS
An integrated power grid project will be completed by the end of this year to facilitate power transmission between southwest China's Tibet Autonomous Region and neighboring Qinghai Province, say project contractors.
At least 40 percent of the 16-billion-yuan (2.37 billion U.S. dollars) project had been completed and the integrated power grid would start operation at the end of the year, Northwest China Power Grid, the prime contractor, said in a statement on its website.
The transmission line will run 1,039 km from Golmud to Lhasa.
After the grids are connected, power will be transmitted to Tibet from Qinghai during the dry seasons in winter and spring. In the flood season, surplus hydropower from Tibet will be transmitted to Qinghai or other parts of the country.
INLAND PROVINCE REPORTS SURGES IN FOREIGN TRADE
The underdeveloped inland northwestern province of Gansu reported a record 7.32 billion U.S. dollars in foreign trade last year, as it strived to nurture export-oriented businesses and tap new markets.
The province had 1,963 exporting companies with global trade partners in 137 countries and regions, said Wang Rui, chief of the provincial commerce department.
He said the province planned to further tap emerging markets, particularly central Asian countries, and set up logistics centers in Lanzhou and Tianshui, a pivotal land port in the south of the province.
BONDED PORT ZONE OPENS IN SOUTH CHINA
A new bonded port zone in south China's Guangxi Zhuang Autonomous Region opened Wednesday, with the first shipments departing for Hamburg, Germany.
Qinzhou Bonded Port Zone, located in the Beibu Gulf, is the only bonded zone on China's westernmost coast and close to ASEAN countries. It is a free port, a shipping and logistics center, and a processing base for export products catering to cooperation between China and ASEAN countries.
Approved by the central government in 2008, the bonded port zone is designed to cover 10 square km and the entire project will be completed early next year.
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