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China’s No.3 steel mill, Wuhan Iron and Steel Company Ltd (600005.SS), posted a 90.43 percent rise in first-half net profit over a year earlier, due to strong domestic demand and higher steel prices, Xinhua reported on Sunday.
Wuhan Steel’s net profit was 963.53 million yuan ($142 million) for the first half of 2010, as its steel [...]

Two China New Energy Firms Eye $2 Billion in HK IPOs

China Huaneng Group Corp and Datang Corp, the country’s top power producers, plan to float shares of their renewable energy units in Hong Kong in offerings that could raise over $2 billion, sources close to the deals said on Tuesday, reported Reuters.
The deals are unfolding as China aggressively develops its renewable energy sector and the [...]

AU Says must Replace Western Partners with China

The African Union said on Saturday Africa must turn ever more to China for its development because conditions and checks often stalled the flow of funds from Western nations and the World Bank, reported Friday’s Reuters.
Maxwell Mkwezalamba, the AU’s economic chief, said Africa must end its reliance on Western money.
« We need to diversify our partners [...]

Solar Water Heater

Just like solar generators, solar water heating systems are also composed of a solar panel system which is used to collect the solar energy from the sun. The difference is that solar water heaters contain a fluid system which then allows the solar energy collected to be transferred into the water source that is to be heated. This is usually in the form of a water tank where the water to be heated is stored until it is used by a particular household or community. Solar water heaters are commonly used in country clubs and homes to heat swimming pools or the entire area by heating the floors of the house or building.