Rare earth group founded in Jiangxi

CHINA Rare Earth Group Co., a State-owned firm, was established Thursday in eastern China’s Jiangxi Province.

The group was jointly founded by three companies — Aluminum Corp. of China, China Minmetals Corp., Ganzhou Rare Earth Group Co. — and two research firms — China Iron & Steel Research Institute Group and Grinm Group Corp. The group will focus on research, exploration, smelting and deep processing of rare earth.

Shield tunneling machine rolls off production line

CHINA’S domestically developed super-sized shield tunneling machine rolled off the production line Wednesday in Changsha, central China’s Hunan Province, according to China Railway Construction Corp. (CRCC).

Named “Zhenxing,” the shield tunneling machine has a diameter of 15.01 meters and weighs 4,400 tons, CRCC said. The machine will be used in the construction of tunnel projects in the city of Zhuhai, southern China’s Guangdong Province. With 87 percent of its parts made domestically, the machine was the result of the independent development of core components and key systems, according to CRCC.

Number of IP service agencies, practitioners rises

CHINA’S intellectual property (IP) industry has seen a year-on-year increase in its number of service agencies and practitioners, the country’s top IP regulator said Wednesday.

By the end of 2020, China had 73,000 IP service agencies, up 9.3 percent from the previous year, and 865,000 IP practitioners, up 5.6 percent year on year, according to a report issued by the National Intellectual Property Administration. The revenue of these IP service agencies exceeded 225 billion yuan (about 35.3 billion U.S. dollars) in 2020, an increase of 4.5 percent year on year.

Renault’s van venture heads for restructuring

RENAULT SA’s venture with Brilliance Auto Group Holdings Co. in China is unable to make payments and heading for restructuring, a further blow to the French manufacturer’s toehold in the world’s biggest car market.

In light of the partnership’s “inability to meet its current financial obligations, the company’s board of directors has resolved to initiate a restructuring process,” Renault said Wednesday. The joint unit, based in Shenyang, making vans under the Jinbei brand, was started in 2017 under former Renault CEO Carlos Ghosn, with Renault holding a 49 percent stake.