Like natural gas, coal is an energy sector that has suffered from declining growth around the world, particularly in China.
China Yuchai International Limited (CYD, quote) announced today that its subsidiary Guangxi Yuchai Machinery Company Limited (GYMCL) is developing natural gas-powered engines. The new engines will complement GYMCL’s line of diesel engines used in large buses, trucks, power generators and marine engines.
China’s National Development and Reform Commission (NDRC) has announced that it will approve seven overseas investment projects for the country’s three large oil companies.
“Two opposing forces are at work” in the Chinese economy, admit the analysts at UOBKayHian. They see downward pressure triggered by the Euro debt crisis and a slowing Chinese economy, but believe the China will be stepping up its efforts to ease the monetary supply and support growth.
China’s economy is growing at only 8.9% a year at the moment — three times as fast as the United States in a good quarter. Is the bad news overdone, or is there a hard landing here? We look for answers in a recent episode of Trading the Globe.