Month: December 2022

BEIJING, Dec. 29, 2022 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) officially published the “China Energy Outlook 2060” (the “Outlook”) on December 28 in Beijing. This is Sinopec’s first publicly released research findings of their medium and long-term energy outlook, providing a new perspective for the scientific planning of transformation and development of China’s energy and chemical industries. This in the context of the “Dual-Carbon” goals laid out by the Chinese government, with the core goal of achieving carbon neutrality by 2060.

According to the Outlook, a project of the Sinopec Economics & Development Research Institute, China’s primary energy consumption is expected to peak at approximately 6.03 billion tons of standard coal between 2030 and 2035, and reduce to about 5.6 billion tons of standard coal in 2060. The energy-related carbon emissions are expected to peak at around 9.9 billion tons by 2030 after excluding the carbon sequestration of raw material energy use, and drop to 1.7 billion tons in 2060, achieving carbon neutrality through Carbon Capture Usage Storage (CCUS) technology, and carbon sinks, amongst other methods.

The report, detailing China’s energy consumption and carbon emission projections of major stages leading to 2060, has put forward the concept of an “energy balance triangle” based on the comprehensive research of the history of global energy development, key factors influencing energy transformation, major trends, and the future path of energy development.

It has proposed a roadmap for China’s energy transformation based on the energy triangle concept. This is based on tackling any security challenges that may arise in the transition, emphasizing the urgency of making the transformation towards green energy, and coordinating development goals. In addition, it has emphasized the importance of unifying the general direction, objectives and principles of national economic and social progress with the course of energy transformation.

“The Outlook is Sinopec’s latest achievement in exploring the high-quality energy development in China and reflects our observations and understandings on the laws of energy evolution with systematic judgement on the future trends of China’s energy development,” noted Zhao Dong, president of Sinopec. “We hope to work with all partners to further strengthen academic exchanges and deepen all-round cooperation to promote more high-quality energy research and results, and contribute to accelerating the planning and construction of a new energy system and safeguard national energy security.”

For more information, visit Sinopec.

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Company’s Ultra-Premium Appliances Boast Cutting-edge Technologies, Timeless Design and Outstanding Energy Efficiency

SEOUL, South Korea, Dec. 29, 2022 /PRNewswire/ — LG Electronics (LG) will unveil its second-generation LG SIGNATURE home appliance lineup at CES 2023. Offering timeless design and innovative technologies for a more convenient, stylish, and sustainable life at home, the sophisticated, new products will be on show in the LG SIGNATURE zone of LG’s booth under the theme of ‘Live Beyond.’

Seven years after its launch, LG SIGNATURE continues to redefine ultra-premium; delivering elegant, highly-advanced appliances and living solutions that take performance, design and usability to new heights. While remaining true to the brand’s philosophy and craftsman-like quality, the second-generation lineup adds differentiated features and technologies that offer even more convenience, as well as new colors, materials and finishes that bring a sleeker, more minimalist look to the home.

The models on display at CES will include the brand-new LG SIGNATURE 4-Door French-Door refrigerator with Dual InstaView, a washer and dryer pair with 7-inch LCD touch panels, Over-the-Range Microwave Oven with smart InstaView, and the double Oven Slide-in Range with built-in cameras and automatic time and temperature-setting functionality. Among other LG SIGNATURE products appearing in the exhibit are an air conditioner, air purifier, OLED TV and the Wine Cellar.

The LG SIGNATURE zone, comprising of living room, laundry room and kitchen, has been created in partnership with Italian designer furniture brand, Molteni&C. The aesthetically refined, technologically advanced products from the LG SIGNATURE range will be complemented in each stylish appointed interior scene by Molteni&C’s stunning furniture pieces.

“LG SIGNATURE second-generation appliances combine our exclusive technologies, an array of enhanced features of convenience and efficiency, and gorgeous, modern design for a smart, sustainable and more luxurious life at home,” said Lyu Jae-cheol, president of LG Electronics Home Appliance & Air Solution Company.

Visitors to LG’s booth (#15501, Las Vegas Convention Center, Las Vegas) at CES 2023 from January 5-8 will have the opportunity to see all of the company’s latest lifestyle innovations, including the LG SIGNATURE gen-two appliances.

About LG Electronics Home Appliance & Air Solution Company

The LG Home Appliance & Air Solution Company is a global leader in home appliances, smart home solutions, air solutions as well as visionary products featuring LG ThinQ AI. The company is creating various solutions with its industry leading core technologies and is committed to making life better and healthier for consumers by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solutions. Together, these products deliver enhanced convenience, superb performance, efficient operation and compelling health benefits. For more news on LG, visit www.LGnewsroom.com.

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BEIJING, Dec. 29, 2022 /PRNewswire/ — China’s Qingdao Port, a subsidiary of Shandong Port Group and the second-largest foreign trade port in east China’s Shandong Province, has seen an increase in anchorage rotations of very large container ships, according to China Media Group.

The port has handled ultra-large container ships more than 300 times. Ultra-large container ships are usually 400 meters long and have a capacity of over 20,000 twenty-foot equivalent units (TEU).

The port has also handled 200-meter-long container ships more than 3,900 times, a 7-percent increase year on year, CMG said.

Handling that much freight under the impact of COVID-19 is challenging, particularly with reduced labor. However, the unloading rate at the Qingdao Port increased by 16 percent from January to November, thanks to the port’s record-setting intelligent system.

The COVID-19 pandemic has greatly impacted the global port and water transportation industry. However, China’s major ports have seen an increase in throughput and made significant progress in digital and intelligent construction, thereby playing a leading role in the intelligent development of ports globally.

Qingdao Port is the world’s first to have an air-track intelligent transporting system capable of handling 1.5 million TEUs annually. The system set a new world record in June for managing as many as 67.76 TEUs in an hour, with an average of 60.18 TEUs per hour, a 14.2-percent jump from its previous record.

China now leads the world in the number of automated terminals, both built and under construction, according to the Ministry of Transport. All the major ports in Shanghai and Tianjin are equipped with automated bridge cranes or tracks.

Coupled with the continuous investment in domestic ports and a large number of high-tech enterprises, the concept and practice of smart port construction have been innovative, Mi Weijian, a professor at Shanghai Maritime University, told Xinhua.

For large corporate ports, such as the Shandong Port Science and Technology Group, in-house cooperation is the key to upgrading existing facilities into a fully automated waterfront container terminal, which helps reduce the overall costs by 70 percent compared with newly built terminals, according to Xinhua.

“Now we have traditional terminals, semi-automatic terminals and fully automatic terminals,” said Wang Yusheng, deputy general manager of the group. “The loading and unloading of a ship can be done in three different kinds of terminals, which maximizes the integration of terminal resources.”

Link: https://news.cgtn.com/news/2022-12-28/Vitality-under-COVID-19-China-s-smart-ports-aid-increased-throughput-1g7OLnTDJtK/index.html

LAHORE, Pakistan, Dec. 29, 2022 /PRNewswire/ — Digitt+, Pakistan’s first agriculture focused Fintech, today announced that the State Bank of Pakistan has formally granted it approval to pilot launch their Electronic Money Institution (EMI). Digitt+ is powered by Akhtar Fuiou Technologies (AFT).

Digitt+ is committed to digitizing the agricultural ecosystem, offering financial inclusion to farmers and unbanked people through its technology, partnerships, and relationships with agribusinesses and FMCGs in Pakistan.

Digitt+ has partnered with FuiouPay, a leading international payment solutions provider, to provide market-based alternative to the traditional banking system. FuiouPay offers holistic enabling solutions through their seventy five intellectual property licenses and several patented software.

Qasim Akhtar Khan, Founder and Chief Strategy Officer at Digitt+ talked about the scale and potential of the venture: “We look forward to providing financial technology solutions to the farmers of Pakistan who will be able to open bank accounts and gain access to credit and modern digital financial services such as bill payments, e-commerce, investments, and money transfers. This effort has the potential to solve food security issues, enhance crop yields, and improve human welfare in Pakistan, directly impacting thousands of farmers and merchants.”

Pakistan has been an agriculture powerhouse for decades. Agriculture employs almost half of the country’s workforce and contributes about 25% to GDP. Despite its size and prominence, the sector does not have commensurate access to financial services from the banking system. Furthermore, recent climate change has devastated farmers and deeply impacted their production, thus making access to financial technology all the more important. Such services can provide much-needed access to formal banking channels and donor agencies to support farmers in adapting to climate change.

“At Digitt+, we are using technology to develop innovative digital financial products focusing on micro services to build a comprehensive platform that will enable the delivery of these solutions to a wide range of users, not only for the retail Agri market but for the corporate sector as well, through the provision of specialized business tools.” added Ahmed Saleemi, CEO of Digitt+, giving further insight on how the company would unlock the potential of the Agri economy.

Digitt+ is braced to embark on a mission to revolutionize the Agriculture Fintech sector in Pakistan. The approval from State Bank of Pakistan is an important milestone in that direction.

CONTACT: Noman Shabbir, noman@toplinepr.com