The Legend Group was founded on November 14, 1984 by a group of eleven engineers, headed by Liu Chuanzhi, in Zhongguancun, Beijing. Originally known as Legend Group Ltd and New Technology Developer Incorporated.
The name of the company was changed from Legend to Lenovo because it conflicted with other trademarks registered in the West. "Lenovo" is a portmanteau of "Le-" (from Legend) and "novo", pseudo-Latin for "new". The Chinese name means "association" or "connected thinking" but can also imply creativity.
After 14 years' development, Lenovo is China's largest and the world's fourth largest personal computer manufacturer, after Hewlett-Packard and Dell of the U.S. and Acer of Taiwan. The company produces desktops, laptops, servers, handheld computers, imaging equipment, and mobile phone handsets. Lenovo also provides information technology integration and support services, and its QDI unit offers contract manufacturing.
Originally Posted: China Business Daily
Author: Angulo Fu
Friday, November 14, 2008
Legend Group was Set up
Thursday, November 13, 2008
Jinping 1 Hydropower Station Started to Build
The construction work of Jinping 1 Hydropower Station began on 13 November 2005. Jinping 1 Hydropower Station is a large hydroelectic power generation project on the Yalong River in Sichuan, China. The Yalong River, which the dam will control, is the largest tributary of the Jinsha. For the project, approximately 7,500 inhabitants will be relocated.
The main structure of Jinping 1 Hydropower Station will be a 300 meter high elbow rope wall, to which a 3600-megawatt power station will be attached. It will become the highest or one of the two highest dams on earth, since the Rogun dam, at 335 meters in height, is not yet built. Thyssenkrupp supplied a cableway for the building site.
The power station will have six turbines, each capable of producing 600 megawatts, for a total of 3600 megawatts. The annual production of Jinping I is estimated to be between 16 and 18 TW·h. Expectations are that power first will be generated in 2012 with the remainder of the work completed by 2014.
Originally Posted: China Business Daily
Author: Angulo Fu
Wednesday, November 12, 2008
Airmedia Financing $180 Million in Nasdaq
On November 12, 2007, Airmedia Group Inc. went public in Nasdaq. Guo Man, the CEO of Airmedia Group Inc. sounded the Nasdaq closing bell to celebrate financing 180 million US dollars.
Airmedia operate the largest digital media network in China dedicated to air travel advertising. The comapny operates over 95% of the digital TV screens that display advertisements in the 15 largest airports in China, according to an August 2007 report of Sinomonitor. The advertising portion of its programs currently accounts for over 80% of the total length of the advertisements played on the digital TV screens for each of the three largest airlines in China. Airmedia operate over 2,000 digital TV screens in airports, and place its programs on over 16,000 digital TV screens on airplanes.
Originally Posted: China Business Daily
Author: Angulo Fu
Tuesday, November 11, 2008
Jingshi Expressway Partly Opened to Traffic
November 11, 1987, the Beijing section of the Jingshi Expressway officially opened to traffic.
The Jingshi Expressway is an expressway in China which links Beijing to the Shijiazhuang. It is c. 270 km in length. Its road numbering is G030. It forms part of the Jingzhu Expressway.
Opened in full in 1993, the expressway runs in a southwest direction, linking the capital of China with the capital of Hebei province.
The Jingshi Expressway gets its name by the combination of two one-character Chinese abbreviations of both Beijing and Shijiazhuang (Beijing -- Jing, Shijiazhuang -- Shi).
Originally Posted: China Business Daily
Author: Angulo Fu
Monday, November 10, 2008
Indian, Thailand and Malaysia to Reduce Rubber Output
Indonesia said, has agreed to join with Thailand and Malaysia to cut rubber output. As a result of the buyers default, including China, the delay in export will up to 2 months.
According to Bloomberg News, the world's second largest rubber producer Indonesia will replante 55,000 hectares of trees to reduce the rubber output in the next year.
Daud Husni Bastari, the President of the Rubber Association of Indonesia said that the replanting measures will reduce the rubber production of 55,000 tons in Indonesia. This is approximately 2% of Indonesia last year's output.
The three countries plan to replant an area of 169,000 hectares. There are 55,000 hectares in Indonesia, 64,000 hectares in Thailand and 50,000 hectares in Malaysia.
The three countries annual harvest about 7 million tons of rubber. There are approximately 6 years from the tree planting to harvest for the first time. In the next 20 years, the tree could output rubber. The aims of replanting is to cut down trees on Aging. Before the new trees' mature, which would help to prevent the world's rubber supply. Other measures include the reduction of output for each rubber trees, or delay cutting rubber.
According to the report from Thailand, Malaysia, Cambodia, Vietnam, Singapore and Indonesia, the non-compliance of purchase have achieved in the number of 60,000 to 80,000 tons, most of them are from China. Some buyers have asked for a postponement of shipping, which are one or two months. There are many rubber exporters canceled shipment, in particular those of the originally plan to China's rubber cargo, because the buyers did not open a L/C.
Rubber prices have fell 50 percent from a high peak of 28 years in last 5 months. The market worried about the global financial crisis will make the global economy into recession, thereby reduce demand of goods.
Originally Posted: China Business Daily
Author: Angulo Fu
Thailand to Cut Rubber Production 50% in Six Months
Thailand, the world's largest rubber producer, said Monday for the protection of rubber prices, Thailand will start the reduction of 700,000 tons of rubber production in the next 6 months.
Saenkaew, the Minister in charge of rubber Affairs from the Ministry of Agriculture & Cooperatives said Thailand plans to cut 50 percent of rubber production during this period and encourage farmers to reduce the tapping.
It is understood that the reduction decision is based on the output of 1.4 million tons from October 2007 to March 2008. The reduction of output is equivalent to 23 percent of forecast for 2008 which is 3.1 million tons. Thailand's rubber production in 2007 are 3.0 million tons.
Saenkaew said that as a part of reduction plan, Thailand will also reduce the the trading day of domestic rubber trading center. The trade Day is expected to reduce to 2-3 days a week, in response to the drop in supply.
At present, the international benchmark --- Thai RSS3 rubber price Monday reported that 1.85 U.S. dollars per kilogram, while in July this year, the price had hit 56-years record high of 3.25 U.S. dollars per kilogram. In the face of the global financial crisis, Thailand, Malaysia, Indonesia are under attack, and the consumers should keep cautious sentiment.
Originally Posted: China Business Daily
Author: Angulo Fu
India's Natural Rubber Output in October to 81,000 Tons
According to New Delhi on November 3, a senior officials of Indian Rubber Board said India in October natural rubber production declined to 81,000 tons, dropped 9 percent compared with the same period of last year.
The official said that affected by heavy rain, there are interruption of production tapping. But he refused to disclose his name.
From April to October, the output of rubber production have an increase of 19.6 percent to 476,865 tons, 398,859 tons for the same period of last year. According to report, the overall favorable weather conditions promote the the production of rubber from April to October.
Originally Posted: China Business Daily
Author: Angulo Fu
50th Anniversary Celebration of Synthetic Rubber Industrialization Held in Chongqing
November 1, 50th anniversary celebration of China Synthetic Rubber Industrialization was held in Chongqing Changshou Chemical Co., Ltd. After 50 years of development, China's synthetic rubber industrial products from small to large scale. The capacity of synthetic rubber is the second highest in the world, only after the United States.
Chongqing Changshou set up plant with an annual output of 2,000 tons of Chloroprene rubber since November 1958. By now, China's synthetic rubber industry has crossed the 50-year development process. Synthetic rubber products have become essential materials of China's industry, agriculture, national defense and military high-tech fields, made a positive contribution to the development of the national economy.
In the promotion of reform and opening-up policy, China's synthetic rubber plant capacity from the 93,000 tons in 1978 to l69 million tons in 2007; production from l01,000 million tons in 1978 to the l63 million tons in 2007.
In more than 50 years of synthetic rubber industrialization, the total of output is 18 million tons. During the 30 years of reform and opening up, the production output is l7.69 million tons, accounted for 96.4 percent of total output.
Domestic varieties of large-scale industrial production has expanded from 4 in 1978 to 7. Other types of rubber production has also increased, so that the domestic synthetic rubber product structure is more reasonable.
Originally Posted: China Business Daily
Author: Angulo Fu
Total Set up Subsidiary in Suzhou for Rubber Business
October 29, 2008, Hutchinson Industrial Rubber Products (Suzhou) Co., Ltd. held an opening ceremony in Suzhou Industrial Park, marking the Hutchinson began officially in operation in Suzhou.
Hutchinson is a subsidiary of Total Group. It is the world's leading manufacturers in automotive, aerospace, as well as daily necessities rubber markets. The total investment amount is RMB 120 million on it. Hutchinson set up 118 factories in 27 countries, has about 27,000 employees. In China, Hutchinson invest four branches serving the automotive, industrial seals and commodities markets.
Hutchinson Suzhou plant planned to began in 2004, covers an area of 64,000 square meters, construction area of over 30,000 square meters. The factory introduces a world-class level of industrial rubber production equipment and technology, specializing in the production of seals, sealant, the conveyor belt and pieces of shock absorption, serving railway, aviation, automobile and construction markets.
Originally Posted: China Business Daily
Author: Angulo Fu
China Officially Joins WTO
November 10, 2001, Trade ministers from across the world have officially approved China's entry into the World Trade Organization (WTO) after 15 years of negotiations.
The move was approved unanimously at the WTO's ministerial meeting in the Gulf state of Qatar on Saturday and brings a market of 1.3 billion people into the global trading system.
China's entry was expected to boost economic reforms started in the world's most populous nation more than 20 years ago and open the huge market to the rest of the world.
To applause, trade ministers from almost all the WTO's 142 members unanimously voted in favour of China's application.
After its entry into the WTO China would, as promised, open step by step the fields of finance, insurance, telecom, foreign trade, business, transportation, architecture, tourism and intermediary service, allowing foreign investors to set up joint ventures or solely-funded enterprises in these fields according to Chinese law, and the opening scope would be expanded.
Originally Posted: China Business Daily
Author: Angulo Fu
Sunday, November 9, 2008
Badaling Expressway Opened to Traffic
The Badaling Expressway opened to traffic on November 9, 1998. It is an expressway in China which links Beijing to the Badaling stretch of the Great Wall of China. It continues toward Yanqing and leaves Beijing, becoming the Jingzhang Expressway.
Starting north of Madian Overpass on the Northern 3rd Ring Road, it runs for approximately 50 kilometres in a direction toward Beijing's north-west.
The Badaling Expressway gets its name from the Badaling stretch of the Great Wall.
Originally Posted: China Business Daily
Author: Angulo Fu
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