IPOs coming: Among the 122 companies that have applied for IPOs on Shanghai’s new tech board, 17 are from Guangdong, behind Beijing (26), Jiangsu (21) and Shanghai (18). Of the southerners, Shenzhen supplied nine, Guangzhou four, Meizhou two, and one each from Foshan and Huizhou. Read more.
Environmental injunction: A court in Zhuhai has allowed the province’s first injunction against a project on a claim of potential environmental damage. Read more.
U.S. Deals: Guangdong Vice Governor Ouyang Weimin recently led an economic and trade mission of more than 40 companies to Mexico and the U.S., where 13 new investment projects were signed for an undisclosed amount. Read more.
New route: The Boshen Highway that goes from Huizhou’s Boluo county (博罗) to Shenzhen’s Longgang district will be connected with the Conghua/Dongguan Highway via a Qingxi sideline in the Dongguan section. Got all that? Basically, it adds an alternative route between Dongguan and Shenzhen. Read more .
Hydrogen cars: Foshan will see 1,000 hydrogen-powered vehicles hit the roads this year and will build 30 hydrogen-recharging stations. In Q1, RMB50 billion has been invested here in the hydrogen energy industry, already 41.17% of the total that was invested in 2018. Read more.
Smarter Shenzhen: The city will increase its financial investment in higher education to RMB18 billion this year, 28.57% up on last year, third-fastest in the country behind Beijing and Shanghai. According to Shenzhen Education Bureau, the city is exploring how to “improve the investment mechanism on higher education”. Read more .
AI Cometh: China’s artificial intelligence industry is expected to grow by six times its current size to reach US$11.9 billion in 2023. To date, 19 provinces have issued 26 AI-related policies to boost its development across smart manufacturing, fintech, digital contents, new media, new retail and smart security. Read more .
Water-pollution cleanup: Shenzhen will issue a RMB16 billion bond, with half to be used in water pollution treatment projects in the Bao’an district and most of the rest on river-water pollution control projects in the Longgang district. Read more .
Konka Going to Chongqing: Shenzhen-based Konka Group is planning to build a RMB30 billion semiconductor and photoelectric industrial park in Chongqing with investment of up to RMB7.5 billion in the project’s first phase. Read more.
LG in OLED Project: LG Display, the world’s largest LCD panel maker from South Korea, has begun construction of an OLED panel production plant in Guangzhou, making it the first large-sized OLED panel production line in China. The first phase will cost RMB46 billion, producing larger TV displays. It will be LG’s third production line in Guangzhou. Read more
Prices Spike: The Consumer Price Index (CPI) jumped to 2.7% nationwide in May, mainly due to surge in food costs. Although this was the largest increase since February 2018, it was still lower than the government’s price-regulation target of 3%. The Producer Price Index (PPI) rose 0.6% YoY. Read more.