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China

Chinese company plans factory in Nacala, Mozambique, to feed Brazilian steel industry

27 February 2017
The China Brasil Xinnenghuan International Investment (CBSteel) company plans to invest US$1.4 billion to build a plant in Nacala to transform coal into coking coal to export to Brazil. CBSteel’s intentions were indicated in a memorandum signed last Friday in Maputo by the permanent secretary of Mozambique’s Ministry of Industry and Commerce (MIC), Carla Soto, and the chairman of the board of China Brasil Xinnenghuan International Investment (CBSteel), Zhang Shengsheng.

Macau receives 2.87 million visitors in January

24 February 2017
The number of visitors to Macau in January 2017 grew 17.6% year on year and 2.2% in monthly terms to 2.87 million due to the celebration of the Lunar New Year which occurred in the first month of the year against February in 2015, reported the Statistics and Census Bureau. The visitors remained in the territory for an average of 1.1 days, 0.1 days less compared to the same month last year.

Macau and Fujian take part in the “One Belt, One Road” initiative

23 February 2017
The Macau Chief Executive and the Governor of Fujian Province said on Wednesday they planned to take part together in the "One Belt, One Road" national initiative and expressed confidence in further development of bilateral cooperation, said the Macau Government Information Bureau.

Mozambique seeks loan in China to build airport in Gaza

23 February 2017
The government of Mozambique is waiting for the Export-Import Bank of China to approve a loan of US$60 million to start the construction of Chongoene airport, in Gaza province, the Minister of Transport and Communications said recently, quoted by the local press.

China starts building biomass power plant in Guinea-Bissau in March

23 February 2017
Preliminary work for the construction of the biomass power plant in Mansoa, central Guinea-Bissau, will begin in March, with the arrival of Chinese technicians, announced the Guinean representative of Chinese company Shenyang Lan Sa Trading Co Ltd, which is financing the project.

China is largest foreign market for Portuguese beer maker Unicer in 2016

22 February 2017
China replaced Angola as the main export market for Portuguese beer making company Unicer Bebidas de Portugal in 2016, said the CEO of the company speaking to Portuguese newspaper Público. After in 2014 Unicer exported products worth 60 million euros to Angola, the market fell to a "residual value" in 2016, the year China ranked first in the list of the company's sales abroad. After in…

Bank of Portugal negotiates sale of Novo Banco with Lone Star Funds

21 February 2017
The Bank of Portugal has chosen US company Lone Star Funds on an exclusive basis for the final phase of the negotiations to define the terms of sale of the Resolution Fund's stake in Novo Banco, the central bank said in a statement. In the running to buy Novo Banco, the bank that inherited the quality assets of the bankrupt Banco Espírito Santo (BES), was the Apollo/Centerbridge consortium, after finance company China Minsheng failed to provide the guarantees that were required by the Bank of Portugal.

China pays for football stadium repairs in Guinea-Bissau

20 February 2017
Work to repair the electrical system of the "24 de Setembro" football stadium in Guinea-Bissau, has been completed, under a contract costing 500 million CFA francs (about US$810,000) supported by the government of China, said the director of the sports facility.

Macau plans to build Services Complex for Trade Cooperation between China and Portuguese-speaking Countries

17 February 2017
Twelve companies have submitted proposals to the public tender for design and construction of the Services Complex for Trade Cooperation between China and Portuguese-speaking Countries, said the Macau Lands, Public Works and Transport Bureau. The future Services Complex will be located in central area of the Macau peninsula an area of ​​about 14,200 m2, and the construction work is likely to start in the third quarter of 2017 and have a maximum deadline of 20 months.

China State Grid launches takeover bid for Brazil’s CPFL Energia

17 February 2017
The China State Grid group plans to launch a tender offer for the remaining capital of Brazilian company CPFL Energia that it does not yet control, under a plan to remove shares from the stock market, CPFL Energia said in a statement to the market.

China interested in investing in Malanje, Angola

17 February 2017
China plans to invest in the agricultural and livestock sectors, aquaculture and tourism of Angola's Malanje province under bilateral cooperation agreements signed by Angola and China, the Chinese ambassador to Angola said in the provincial capital on Wednesday.

Macau discusses “One Band, One Route” initiative with Fukien and Guangdong

16 February 2017
Macau Chief Executive Chui Sai On will travel to Fuzhou and Guangzhou between 22 and 24 of this month to study with the governments of Fujian and Guangdong future cooperation and joint participation in the Chinese central government's initiative "One Band, One Route" initiative. This is the first step in a series of other initiatives that the government of the Macau Special Administrative Region (MSAR) will carry out in order to formally participate in the initiatives launched in 2013 by President Xi Jinping of the "Silk Road Economic Belt" and the "21st Century Maritime Silk Road" known as "One Belt, One Road."

China Development Bank guarantees continued financial support to Angola

15 February 2017
The China Development Bank (CDB) will continue to support Angola financially, "thus contributing to the socio-economic development process of the country," the CDB's chief executive said in Luanda on Tuesday.

Banco Nacional Ultramarino (Macau) posts profit of US$70 million in 2016

15 February 2017
Banco Nacional Ultramarino (Macau), of Portuguese state financial group Caixa Geral de Depósitos, in 2016 posted a profit of 560.5 million patacas (US$70 million), which represents an annual growth of 9.8%, the bank said in a statement issue don Tuesday. Announcing the unaudited financial results for 2016, the banks said, "BNU continued to perform well in terms of solvency, liquidity and profitability," despite the less favourable economic climate experienced in Macau in recent years and increased competition in the banking sector.

Young people from Macau study business innovation in Portugal

14 February 2017
A delegation composed mainly of representatives of youth associations from Macau is visiting business innovation centres in Portugal ahead of the establishment in Macau of the Youth Innovation and Entrepreneurship Centre of China and the Portuguese Speaking Countries, the Macau economic Services (MES) said.

Delegation of the China Development Bank is in Angola for talks

13 February 2017
A delegation from the China Development Bank's (CDB) is due on Tuesday to conclude a working visit to Angola to consolidate financial and economic relations between the two countries, Angolan state news agency Angop reported.

Macau and Hong Kong cooperate in attracting foreign investment

10 February 2017
Macau and Hong Kong in cooperation with Guangdong Province, will continue to cooperate in attracting investment abroad and simultaneously create a permanent contact mechanism, according to decisions from a meeting held on Thursday in Hong Kong.

Hong Kong, Macau and Zhuhai to pay more for the bridge linking the three cities

10 February 2017
Hong Kong will have to spend more money to pay for the bridge that connects the city to Zhuhai and Macau as the cost of construction of the main deck has exceeded the budgeted amount, the Secretary for Transport said on Thursday, quoted by the South China Morning Post. Anthony Cheung Bing-leung did not say how much more the real cost was compared to the budgeted cost, but the three governments - Hong Kong, Macau and Zhuhai - will have to come up with more money in proportion to their participation in the project.

Chinese medical team arrives in Sao Tome and Principe to provide health care

10 February 2017
A Chinese medical team has been in Sao Tome and Principe since Thursday to provide health care in the archipelago's hospitals, said the head of the Chinese mission, Wang Jun Quiang. Jun Quiang told Macauhub that it was "the first Chinese medical mission to come out of a bilateral agreement in the health sector," following the re-establishment on 26 December of diplomatic relations between China and Sao Tome and Principe, replacing Taiwan.

Trade between China and Portuguese-speaking countries falls for the second consecutive year

9 February 2017
The value of trade between China and Portuguese-speaking countries fell in 2016 for the second consecutive year, reaching US$90.874 billion, with an annual contraction of 7.72%, according to official figures released by Forum Macau.
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