Fixed asset investment

THE National Development and Reform Commission said yesterday it approved fixed asset investment projects worth 697.7 billion yuan (US$100.56 billion) from January through September.

It did not provide a figure for the month of September. Prices in China are expected to remain within a reasonable range, National Development and Reform Commission spokeswoman Meng Wei told a news conference, adding that she sees no signs of a trend of accelerating consumer inflation.

New data center

CHINA Mobile Communications Corp., the largest wireless carrier in the world, plans to build a massive new data center and office in Silicon Valley to expand its presence in the United States.

The company’s plan will be subject to a public hearing before the city of San Jose, California, makes a decision, according to the city’s department of planning, building and code enforcement. The project consists of the demolition of a set of existing office and R&D buildings and the construction of a two-story data center with a connecting five-story office building, according to the plan.

Scrap metal imports

CHINA’S imports of scrap metal in September fell to the lowest level this year, down 44.6 percent to 360,000 tons, the General Administration of Customs said Tuesday.

Arrivals of scrap copper in September plunged 38.9 percent from a year ago to 200,000 tons, curbed by the hefty tariffs on imports from the United States. China’s September scrap aluminum imports dropped 46.9 percent to 100,000 tons.

Ratings firm

LIANHE Ratings Global Ltd., an affiliate of the nation’s second-biggest ratings company, is focusing on local government financing vehicles (LGFV) and real estate developers at the start of its expansion, chief executive officer Stan Ho said.

Chinese companies account for more than 63 percent of the US$213 billion dollar bond issuance from Asia. Lianhe rates more than 1,000 LGFVs at home.

Free trade agreement

CHINA has signed a free trade agreement memorandum of understanding with Palestine, China’s Commerce Ministry said yesterday in a statement posted on its official website.

In 2017, the bilateral trade volume between China and Palestine hit US$69.28 million, up 16.2 percent compared to a year ago.