IN BRIEF (Page 26)

FDI inflows hit downturn in May

Foreign direct investment into the Chinese mainland fell 1 percent year-on-year to $8.9 billion in May, the Ministry of Commerce said. This is compared with a 6 percent increase in April. For the first five months, FDI, which excludes investment in the financial sector, rose 3.8 percent year-on-year to $54.2 billion, with the growth decelerating from the 4.8 percent registered in the January-April period, the ministry said.

CTG to buy wind farm from Blackstone

China Three Gorges Corp, the world's biggest hydropower builder, is further diversifying its business into the offshore wind market by buying Meerwind, a major German offshore wind farm, from US buyout and investment firm Blackstone Group LP. The Beijing-based hydropower company inked a deal on June 13 to buy Blackstone's majority stake in WindMW, a German offshore wind farm operator, according to CTG. The German group owns the 288-megawatt Meerwind project in the North Sea.

CRRC to supply diesel locomotives to Kenya

CRRC Corp Ltd confirmed that a deal has been signed to export 56 diesel locomotives to Kenya. The agreement is between its subsidiary CRRC Qishuyan Co and China Road and Bridge Corp. Qishuyan will deliver 56 diesel locomotives to CRBC by the end of May 2017. CRBC is building the Mombassa-Nairobi standard gauge railway, scheduled for completion in 2017.

China tops list of Dubai's biggest trading partners

China was Dubai's top trading partner in the first quarter of this year, with bilateral trade reaching 39 billion dirhams ($10.6 billion; 9.4 billion euros), according to Dubai Customs. India was second with 24 billion dirhams and the United States was third with 22 billion dirhams. China became Dubai's biggest trading partner in 2014. More than 4,000 Chinese companies have branches in the United Arab Emirates.

Argentine fish exports catch big market

China was the second-largest destination for Argentina's fish and seafood exports in the first quarter of this year. Argentina's fish and seafood exports in this period were worth $77 million, 16 percent of the total, according to Argentine consultancy Sectorial Economic Research. Spain was the top export destination, accounting for $112 million and 23 percent of the total exports.

Mercedes-Benz to recall 6,302 vehicles

German carmaker Mercedes-Benz will recall 6,302 vehicles in the Chinese mainland over defective hood locks, China's quality watchdog said on June 14. The affected vehicles are the imported Smart series, manufactured between May 12 and Oct 2 last year, the General Administration of Quality Supervision, Inspection and Quarantine said. The automaker said the locking device may become loose when moving at high speed, which could cause the vehicle's hood to open.

(China Daily Africa Weekly 06/17/2016 page26)