1. China remained the world's largest shipbuilding manufacturer, with its ship completions, new orders, and orders under construction respectively accounting for 49%, 68.8%, and 53.9% of the world's market share in the first 8 months of 2023, official data showed Wednesday.
2. Jinko Power announced on Wednesday its plan to invest in the construction of the Tabarjal 400MW photovoltaic power generation project in Saudi Arabia. The total investment for the project is estimated to be around USD 315 million (RMB 2.3 billion). The project will be based on the Build-Own-Operate (BOO) model. The construction period of the project is expected to last for 21 months, while the operation period is expected to continue for 30 years.
3. BASF announced on Wed. the launch of the industry's first biomass balance offerings for plastic additives. The initial offerings, including Irganox® 1010 BMBcert™ and Irganox® 1076 FD BMBcert™, are certified by TÜV Nord for mass balance according to the International Sustainability and Carbon Certification (ISCC PLUS). These industry-first solutions support the use of renewable feedstock to replace fossil feedstock.
4. PetroChina reported on Sep. 20 that their new energy green power had generated over 2 billion kWh of electricity by Tuesday. This achievement has helped the company reduce carbon dioxide emissions by almost 1.6 million tons. Up to now, PetroChina has completed a total of 106 clean power projects, with 45 projects under construction and 89 planned projects.
5. On Sep. 21, Nio released its first smartphone today, priced from CNY6,499 to CNY7,499 (USD890 to USD1,030), with color and design in line with Nio vehicles. The Chinese EV maker also claimed that the phone has no system ads and zero preinstalled commercials.
6. On Sep. 21, according to Reuters, U.S. Republican lawmakers urged the Treasury Department to conduct a security review over China-linked ownership of Gotion Inc., which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway. The move is the latest push by Republicans to question Chinese-linked EV battery producers looking to set up shop in the U.S., possibly with access to taxpayer funding.
7. On Sep. 20, in response to the EU's investigation into China's electric vehicle subsidies, the China Passenger Car Association firmly opposed the EU's evaluation of China's new energy vehicle exports. According to the association, China's NEVs are selling well not due to huge state subsidies, but because of their market competitiveness. The EU needs to take an objective view of the development of China's EV industry, rather than arbitrarily using unilateral economic and trade tools to prevent or increase the development and operating costs of Chinese EV products in Europe.
8. China's natural gas demand this year is expected to grow by 8% from 2022 to 396.4 billion cubic meters, an analyst from state-owned oil major CNOOC's research division said at a conference on Thursday. Imports of liquefied natural gas (LNG) are expected to reach 70.79 million metric tons this year, up 10.9% from last year, while that of pipeline gas is seen reaching 69.5 bcm, 10.7% above the 2022 level, said Xie Xuguang, from CNOOC Gas and Power Group's research center.
9. On Sep. 21, the Biden administration needs to toughen trade enforcement to guard against unfair competition from Chinese solar suppliers as module prices plummet to record lows, First Solar Inc. Chief Executive Officer Mark Widmar said in an interview Wednesday, according to Bloomberg.
10. On Sep. 20, two China-made new energy light rail trains were dispatched from east China's Jiangsu on Wednesday, marking China's first export of such trains to Argentina. The 70 km/h train powered by 352-kWh LiFePO4 batteries will arrive in Jujuy Province in late November.