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China upgrades transportation with BeiDou system

China sends two satellites of BeiDou Navigation Satellite System (BDS) into space from the Xichang Satellite Launch Center in Xichang, southwest China's Sichuan Province, Sept. 23, 2019. Launched on a Long March-3B carrier rocket, the two satellites entered the orbit. They are the 47th and 48th satellites of the BDS satellite family. After in-orbit tests, the new satellites will work with those BDS satellites already in orbit to improve positioning accuracy of the system. (Photo by Zhang Wenjun/Xinhua). Sketched by the Pan Pacific Agency.

BEIJING, Nov 2, 2020, Asia Times. China has expanded the application of the BeiDou Navigation Satellite System (BDS) in transportation, with more than 6.9 million commercial vehicles carrying BDS, according to the Ministry of Transport (MoT), Asia Times reported.

About 31,400 postal and express delivery vehicles, 1,369 public service ships and 300 general-purpose aircraft now have BDS installed, said Wu Chungeng, a spokesperson of the MoT.

Wu said China has issued a special plan for the application of BDS in railways, highways, waterways and civil aviation.

China is also improving the standards and specifications for BDS terminals installed in vehicles, ships and aircraft to facilitate the application, Wu added.

Transport investment

China’s fixed-asset investment in the transport sector grew 9.8% year-on-year in the first three quarters of 2020 on the back of continued recovery from the impact of Covid-19.

The country’s investment in its transport infrastructure was 2.51 trillion yuan (US$375 billion) from January to September, according to the MoT.

Investment in road and waterway construction reached 1.88 trillion yuan during the period, meeting the government’s annual target ahead of schedule.

China’s transport investment in the third quarter went up 15.5% from the same period last year, data showed.

Hainan’s service trade

The import and export of trade in services in South China’s Hainan province reached 2.49 billion yuan in September, up 31.43% year-on-year, the provincial commerce department said Monday.

It was also 137.65% growth month-on-month compared with August, the department said.

The import and export of trade in services in the province exceeded 12.83 billion yuan in the first three quarters of this year.

The emerging sectors in services trade, which include insurance, finance, telecommunications, business, culture and entertainment, maintenance and repairs, and intellectual property royalties, all registered positive growth in the first three quarters and accounted for 52.3% of the total volume.

Company news

Huawei launched its new Mate40 series for the domestic market in Shanghai last Friday, the first smartphone that supports a digital RMB hardware wallet.

Richard Yu, chief executive of Huawei’s consumer business, said the Mate40 series features encrypted storage, high-performance near-field communication and device-to-device transaction functions, which will bring a new, safe and convenient payment experience for users in dual offline transactions.

Some other new products were also launched on the same day, including smart wearable devices, as well as health management and smart home products.

BGI Genomics Co Ltd, a Chinese biotech company, registered robust growth in its revenue and profits in the first three quarters on the back of rocketing demand for diagnostic kits.

The company reported 2.71 billion yuan in net profits for its parent company in the first nine months, soaring 901.68% year on year, according to a filing to the Shenzhen Stock Exchange. During the period, the firm raked in 6.75 billion yuan in operating revenue, up 225.82% year on year.

The stories were compiled by Nadeem Xu and Shan Hui and first published at ATimesCN.com.

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