Region Guangxi Financial News

BEIJING — No bodies or survivors have yet been found from the China Eastern Airlines crash as of Tuesday morning, Chinese state media said.

Typhoon Yagi pounded south China's island province of Hainan with heavy rain and gusty winds, local authorities said Saturday. Yagi, the 11th typhoon of this year, made two landfalls in China on Friday, first striking Hainan and later Guangdong province. China has sounded a red alert on Friday and warned of floods in the southern region as Yagi made landfall first in Hainan followed by southern Guangdong province and is expected to hit China's Guangxi Zhuang autonomous region and northern Vietnam. More than one million people have been evacuated in the affected areas with work, classes and businesses suspended and over 100 flights cancelled on Friday, the Hong Kong-based South China Morning Post reported.

China Aerospace Science and Technology Corporation, the Long March 11 carrier rocket blasted off from the Xichang Satellite Launch Center in Southwest China's Sichuan Province. A pair of side boosters from the Long March 3B rocket used in a recent launch appear to have descended near populated regions in the Guangxi province, downrange from the Xichang launch site in Sichuan.

Sembcorp Industries on Monday said it has signed two separate agreements to acquire 428 MW of wind power assets in China and India for 200 million Singaporean dollar (about Rs 1,247 crore). Sembcorp, backed by Temasek Holdings Pte, will acquire 228 MW of operational wind power assets of Leap Green Energy Pvt Ltd for 70 million Singaporean dollar and 200 MW of Qinzhou Yuanneng for 130 million Singaporean dollar, the company said in a statement. With the latest acquisition, the company now has a balanced portfolio of 3.7 GW of renewable assets in India, comprising 2.25 GW of wind and 1.45 GW of solar assets. Last year, the company acquired Vector Green, adding 583 MW of renewable assets to its portfolio. «Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co., Ltd, has signed an agreement with Envision Energy Co., Ltd to acquire 100% of the share capital in Qinzhou Yuanneng Wind Power Co., Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately S$130 million[1]. Qinzhou Yuanneng owns 200MW of operational wind assets in Guangxi, China,» the company said in a press statement, adding that separately, Sembcorp’s wholly-owned subsidiary, Green Infra Wind Energy Limited (GIWEL), has signed an agreement with Leap Green Energy Private Limited (Leap Green Energy), an independent power producer in Tamil Nadu, India. «Under the agreement, GIWEL will acquire from Leap Green Energy, 100% of the share capital in two special purpose vehicles (SPVs) for an equity consideration of approximately S$70 million.

typhoon kept southern China drenched for the seventh day as slow-moving storm clouds drifted from Guangdong on the coast to Guangxi, flooding low-lying areas, blocking roads and trapping residents. In the rural county of Bobai in Guangxi region, rescuers on assault boats have scrambled to pull people to safety since Sunday night as water more than 2 metres (6.6 feet) deep stranded residents in low-rise homes, state media reported on Monday. Heavy rain is expected to persist in Guangxi over the next few days. Haikui has weakened from a typhoon to a tropical storm since making landfall in Fujian province on Sept. 5, but its residual circulation has continued to wreak havoc in southern China, with the populous city of Shenzhen deluged by the heaviest rain since records began in 1952.

China is planning to showcase its digital yuan to the ASEAN nations, and could seek to make “cross-regional use” of its CBDC in the bloc.

A Chinese local court has started the trial in the case of Shenzhen Shikongyun (Space-Time Cloud) Technology, a major Filecoin mining firm, for an alleged $83.2 million pyramid scheme.

By Julian Luk

global warming and the ongoing effects of climate change. Typhoon Talim, the fourth typhoon of the year, arrived with maximum wind speeds of 136.8 kilometres per hour, according to the China Meteorological Administration. As it made landfall at approximately 10:20 PM (7:50 PM India time), it brought along storm surges and heavy rainfall, affecting the southern coastline from Guangdong to Hainan provinces.

Talim. The authorities have also asked residents to stay at home. Tens of thousands of people were being evacuated in southern China and Vietnam on Monday, and dozens of flights cancelled as a typhoon barrelled towards land.

Climate change and its effects are no surprise to humankind, these extreme conditions might spell doom for civilisation.  In the latest turn of events, a rapidly developing El Nino threatens Earth's climate activity.  In northern India, relentless monsoon rains have reportedly killed at least 90 people, following burning heat. Major flooding and landslides are common during India's monsoons, but experts say climate change is increasing their frequency and severity. A man died as torrential rains lashed northern Japan on Sunday, a week after seven people were killed in similar weather in the country's southwest.

More Chinese cities will be added to the nation’s digital yuan pilot – with a rollout edging closer to reality.