Skip to main content

General Electric, China's Silk Road Fund to launch energy investment platform

http://www.businessinsider.com/r-general-electric-chinas-silk-road-fund-to-launch-energy-investment-platform-2017-11?IR=T


Reuters

Nov. 9, 2017, 8:28 PM 19

GE General Electric

 20.48

0.48 (+2.40 %)

DisclaimerGet real-time GE charts here »

SHANGHAI, Nov 10 (Reuters) - General Electric Co and a Chinese state fund set up for the Belt and Road trade initiative plan to jointly establish an energy infrastructure investment platform, China's government said on Thursday.

The announcement came on the sidelines of a state visit to Beijing by U.S. President Donald Trump, who has been looking to rev up U.S.-China trade.

The Silk Road Fund and GE Energy Financial Services signed a "cooperation" deal to set up the platform in Beijing, the State Administration of Foreign Exchange (SAFE) said in a statement.

"The two sides will jointly invest in electric power grids, new energy and oil and gas, in countries and regions along the Belt and Road," SAFE said. "The cooperation between the Silk Road Fund and GE will not only boost cooperation between high-end manufacturing industries from China and the U.S., but also promote economic and trade development in the regions where of investment," SAFE added.

The step was part of a flurry of deals between GE and Chinese companies. These included an engine and repair deal for GEnx-1B engines from Juneyao Airlines Co Ltd worth $1.4 billion at list prices, and another $1.1 billion order for 80 Leap-1B engines to power 40 Boeing 737 MAX Aircraft from ICBC Leasing, the leasing arm of state bank Industrial and Commercial Bank of China Ltd. The Silk Road Fund was set up at the end of 2014 and is backed by China's foreign exchange reserves, China Investment Corp, the Export-Import Bank of China and the China Development Bank. (Reporting by Engen Tham; Editing by Joseph Radford

Comments

Popular posts from this blog

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

Germany’s Siemens sets up Belt and Road office in Beijing

https://gbtimes.com/germanys-siemens-sets-up-belt-and-road-office-in-beijing
Germany’s Siemens sets up Belt and Road office in Beijingby Janne Suokas Mar 23, 2018 15:20 TRADEINVESTMENTBELT AND ROAD INITIATIVEGerman industrial and engineering group Siemens will set up a Belt and Road office in Beijing. surberFlickrCC BY 2.0
German industrial and engineering group Siemens will set up an office in Beijing to boost international cooperation under China’s Belt and Road initiative, the company said on Friday.The move will help strengthen Siemens’ cooperation with Chinese and international companies and expand business opportunities brought about by the Belt and Road initiative, according to the company’s statement.The Belt and Road initiative is China’s ambitious project to boost trade and infrastructure investment in more than 65 countries along the ancient Silk Road trade routes from Asia to Europe and Africa.Siemens said it had already partnered with hundreds of Chinese companies in overse…