Latest news with #13thFive-YearPlan
Time of India
2 days ago
- Business
- Time of India
Power Projects Gridlocked Due To Planning, Execution Failures
New Delhi: With several key schemes aimed at strengthening Delhi's power transmission network going off track due to poor execution and persistent delays, Delhi Transco has submitted a presentation to the govt, urging a review of ongoing projects and the infusion of fresh ideas and innovative strategies for efficient implementation. According to an internal document of Delhi Transco Limited (DTL), accessed by TOI, numerous schemes planned during the 13th Five-Year Plan (2017–22) and the first two years of the 14th Plan (2022–27) have faltered due to systemic inefficiencies. The document revealed that during the 13th Plan period, only 58 out of 120 proposed schemes were executed, and merely 36% of the planned expenditure—Rs 2,091 crore out of Rs 5,728 crore—was utilised. It added that the situation so far remained the same under the 14th plan. DTL was established in July 2002 following the restructuring of Delhi's power sector. Carved out of the Delhi Vidyut Board, it was designated as the state transmission utility, while power distribution was handed over to three private companies. You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi The document further revealed that there have been 18 instances of transformer failures since 2020, but none have been replaced with new units. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Linhas de expressão no rosto? Veja o que está virando febre entre as mulheres. aartedoherbalismo Undo Instead, only stop-gap arrangements were made. Of these, 11 transformers failed before completing their 25-year regulatory lifespan. While five units were temporarily borrowed from other organisations, seven were relocated from other substations. The document added that DTL's three substations remained non-functional for several days in July–Aug 2024 due to transformer failures, with old and repurposed units being used. A source familiar with the matter said, "This over-reliance on makeshift fixes underscores a severe lack of planning, inventory, and urgency," adding that poor coordination and ineffective decision-making led to delays in timely and appropriate action. DTL also highlighted the tenders failing to find contractors willing to take up the works, leading to delays in executing the projects in time. The document stated that a tender to procure a 500 MVA transformer was floated four times between 2020 and 2025 but was cancelled each time. Similarly, a tender for a 160 MVA transformer was dropped five times since 2019. "This reflects a lackadaisical approach towards the requirement of crucial power transformers that are essential to meet Delhi's future load demand. It further indicates poor planning, lack of market study, inaccurate estimation, and inclusion of unfavourable terms and conditions in the notice inviting tender," the Delhi Transco Limited said. To address these inefficiencies, DTL has recommended the formation of a high-level monitoring cell to closely track the progress of ongoing schemes. It also called for organisational restructuring to infuse fresh ideas and strategies for efficient project execution. The utility stressed the need to revisit the schemes under the 14th business plan to ensure realistic, need-based planning aligned with future requirements and supported by achievable timelines. "IT-enabled platforms may be leveraged to facilitate faceless vendor interactions and streamline various approval processes, ensuring transparency and efficiency. Core projects should be centralised for focused monitoring, while routine and non-critical matters should be decentralised to reduce the excessive burden on higher management and improve overall efficiency," the document stated.
The Star
6 days ago
- Business
- The Star
China still key in driving global growth
China's gross domestic product is expected to reach about 140 trillion yuan ($19.5 trillion) this year, reaffirming the country's role as a major contributor to the world's economic growth, the country's top economic regulator said on Wednesday. Going forward, the country is poised to place greater emphasis on unlocking the huge potential of its vast and resilient domestic market to underpin continued economic recovery, with stronger policy support to further boost consumer spending and confidence, said officials and economists. Zheng Shanjie, head of the National Development and Reform Commission, noted that the estimated increase in China's GDP during the 14th Five-Year Plan (2021-25) period — over 35 trillion yuan — is equivalent to the combined economic output of Guangdong, Jiangsu and Shandong provinces, the country's top three provincial economies, and exceeds the GDP of Germany, the world's third-largest economy. "China's contribution to world economic growth has stayed at around 30 percent (in recent years), and China has managed to maintain an average growth rate of 5.5 percent over the past four years despite numerous shocks," Zheng said at a news conference in Beijing on Wednesday. Yuan Da, secretary-general of the NDRC, highlighted the huge growth potential of China's ultra-large domestic market, saying that "domestic demand has always been the main driver and stabilizer of China's economy". China's domestic demand contributed an average of 86.4 percent to the country's economic growth during the past four years, with final consumption contributing 56.2 percent, an increase of 8.6 percentage points compared with the 13th Five-Year Plan (2016-20) period. "We will place greater emphasis on strengthening domestic circulation, steadfastly implement the strategy of expanding domestic demand, and speed up the development of a comprehensive domestic demand system," Yuan said. Data from the National Bureau of Statistics showed that China's consumer prices rose for the first time in five months in June, adding to the latest sign of improving consumer sentiment and stable demand. The country's consumer price index, the main gauge of inflation, rose 0.1 percent year-on-year in June, up from a 0.1 percent drop in May. The core CPI, which excludes volatile food and energy prices and is deemed a better gauge of the supply-demand relationship, increased 0.7 percent year-on-year in June, NBS data showed. "Consumer prices rose in June as policies aimed at expanding domestic demand and boosting consumption continued to take effect," said Dong Lijuan, an NBS statistician. Feng Lin, executive director of the research and development department at Golden Credit Rating International, said government stimulus efforts supported the prices of autos and household appliances, contributing to the CPI uptick in June. However, with first-half CPI dropping 0.1 percent year-on-year, she cautioned that "price levels remain subdued, with still-weak consumer demand being the primary reason". "It also leaves ample policy space for further monetary easing and stronger fiscal stimulus in the second half," Feng added. "That will help cushion the impact of external uncertainties." Despite facing challenges ahead, Zhang Xiaoyan, associate dean at Tsinghua University's PBC School of Finance, said she believes that China is well-positioned to hit its preset annual growth target of around 5 percent this year, underpinned by robust policy support, strong technological innovation capabilities and a resilient domestic market. Looking ahead, she said the second-half policy focus will be placed on maintaining stability and boosting market confidence. Ben Simpfendorfer, a partner at consultancy Oliver Wyman, highlighted the importance of ensuring sustained recovery in consumer confidence, calling for more fiscal spending on education and healthcare and building a stronger social safety net. To further consolidate the recovery trend, NDRC deputy head Li Chunlin pledged stronger coordination among ministries as well as between the central government and local governments to ensure the completion this year of the 102 key projects mapped out by the 14th Five-Year Plan (2021-25). - China Daily/ANN
7NEWS
24-04-2025
- Business
- 7NEWS
Embattled Liberal candidate for Bennelong Scott Yung under fire for alleged Beijing connections
The Liberal candidate for Bennelong opened a business dinner backed by an 'overseas Chinese liaison station' — which was part of a global network bankrolled by the Chinese government and previously led by a rising figure credited for supporting Beijing's territorial claim over Taiwan. can reveal Liberal candidate Scott Yung addressed the opening ceremony of the 2024 Asian Business Leaders Charity Gala as a representative of federal opposition leader Peter Dutton. The November event was co-backed by the Anhui Association of Sydney — an organisation that, according to budget documents retrieved by has received thousands of dollars in Chinese government funding. Chinese officials selected it to operate as an 'overseas Chinese liaison station' in 2016 on the principle of 'Four Emphases and Four Benefits' — including 'leveraging overseas Chinese resources to serve Anhui's 13th Five-Year Plan's international cooperation projects.' The liaison stations were 'fully leveraging the resource advantages of overseas Chinese in talent, technology, and capital' and would 'strive to closely integrate overseas Chinese affairs with the province's economic and social development,' the director of the Anhui Provincial Foreign Affairs and Overseas Chinese Affairs Office said a month later. Budget documents from Anhui's Foreign Affairs Office show the Anhui Association of Sydney was one of 14 overseas Chinese groups each awarded more than $6000 in a second round of 'overseas Chinese liaison station' selections. 'The total annual dedicated fund will amount to RMB 1,000,000,' the provincial government said of its program, equivalent to over $200,000. The Anhui Association of Sydney has received Chinese Communist Party united front delegations as recently as August 2023 when the vice chairman of the Anhui Federation of Returned Overseas Chinese visited. 'United Front Work is an important magic weapon for the victory of the party's cause,' Chinese president Xi Jinping said in 2017. 7NEWS does not suggest that the Anhui Association of Sydney, its former chairman, or any other of its associates have committed foreign interference or otherwise acted illegally. It is legal in Australia to act on behalf of a foreign government if those actions are not covert, deceptive, threatening to cause harm or demanding with menace. The news that Yung opened the dinner backed by the association designated as an 'overseas Chinese liaison station' comes three weeks after Liberal campaign spokesperson and Shadow Home Affairs Minister James Paterson said the prime minister had 'all sort [sic] of serious questions' to answer after The Australian reported that he dined with the vice-president of a United Front group at a Labor fundraiser. 'Xi Jinping has described United Front Work Department as China's magic weapon… Now, people might have got away with making mistakes like this five or even 10 years ago, in a more innocent or naive time, but we have learnt a lot since then,' Senator Paterson told Sky News at the time. In 2018, the Beijing Municipal Committee of the Chinese Communist Party's United Front Work Department devoted an entire webpage to the man who formerly chaired the Anhui Association of Sydney, crediting him for his joint 'significant contributions' including to 'safeguarding China's peaceful reunification' — a reference to Beijing's territorial claim over Taiwan. In January 2024, he was reportedly invited as an overseas delegate to the Anhui Provincial People's Political Consultative Conference — the top Chinese Communist Party advisory body to the province's party leadership. He has also reportedly served on the overseas committee of the All-China Federation of Returned Overseas Chinese, which is directly overseen by the Chinese Communist Party's United Front Work Department. The gala night at which Yung spoke, held at the Hilton Sydney, reportedly raised $8000 for Cancer Council NSW. 'The [Opposition] Leader's office was aware of Mr Yung's participation in this Chinese community event, which brought together a large number of local business and community groups to raise funds for the Cancer Council NSW,' a spokesperson for the Liberal Party said. 'Attendance at this event had nothing to do with any policy issues, and Scott's attendance was not an expression of anything other than support for local community organisations and the fight against cancer. 'Scott supports Australia's longstanding and bipartisan one-China policy and opposes any unilateral changes to the status quo in relation to Taiwan.' 7NEWS sought comment from the Anhui Association of Sydney.
Associated Press
27-01-2025
- Business
- Associated Press
CGTN: Full revitalization: NE China speeds up building of modern industrial system, develops new quality productive forces
CGTN published an article based on Chinese President Xi Jinping's inspection tour in northeast China's Liaoning Province from January 22 to 24, which highlights Xi's important remarks on building a modern industrial system and developing new quality productive forces to advance the full revitalization in northeast China. The article showcases the importance of pushing for the full revitalization of northeast China, stating that the real economy is the foundation, sci-tech innovation is the key, and industrial upgrading is the direction. Established in 1905, Bensteel Group – a time-honored enterprise located in northeast China's Liaoning Province – is the first large-scale steel enterprise to resume production since the founding of the People's Republic of China, with diversified businesses such as equipment manufacturing and engineering technology development. Through restructuring with major Chinese steelmaker Ansteel in 2021, Bensteel has been revitalized from a traditional manufacturer to a smart factory, showcasing a new look and vitality brought about by industrial transformation and upgrade and contributing 'steel strength' to Chinese modernization. 'The steel industry is an important basic industry of the country, and the real economy is the foundation of the national economy,' Chinese President Xi Jinping said on Thursday during a visit to a Bensteel facility, emphasizing that the manufacturing industry should adhere to the direction of high-end, intelligent and green. Xi, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made an inspection tour to Liaoning from Wednesday to Friday ahead of the Spring Festival, which falls on January 29 this year. Developing new quality productive forces For a long time, the dispersed layout and low industrial concentration of China's steel industry have been among the main obstacles affecting its efficient operation and healthy development. During the 13th Five-Year Plan period (2016-2020), China's steel sector deepened the supply-side structural reform, achieved a more reasonable industrial structure and made positive progress in green development, intelligent manufacturing and international cooperation. In 2022, Chinese authorities issued a guideline on promoting the high-quality development of the iron and steel industry, aiming to achieve a significant improvement in the level of industrial agglomeration and an increase in the concentration of the steel industry by 2025. For Bensteel, after industrial transformation and upgrade, its research and development and sales of car plates are in a favorable position in China, forming a product line of more than 60 categories and over 7,500 specifications. Its technology and equipment have reached a world-leading level. Noting that Liaoning has a relatively complete industrial system, Xi called on the province to coordinate the transformation and upgrade of traditional industries and the cultivation and expansion of strategic emerging industries to accelerate the building of a modern industrial system. He urged efforts to focus on strengthening the deep integration of scientific and technological innovation and industrial innovation and developing new quality productivity according to local conditions. Full revitalization in northeast China Xi once said that to push for the full revitalization of northeast China, the real economy is the foundation, sci-tech innovation is the key, and industrial upgrading is the direction. As a highlight of its revitalization efforts, the region has continued to deepen the reform of state-owned enterprises in recent years with large-scale actions, strong force and wide scope. The ShenGu Group Co., Ltd., a state-owned manufacturer of process and energy equipment in Liaoning's capital of Shenyang, has completed a series of institutional reforms, improving its vitality and efficiency. Institutional innovation also drives technological innovation. Through digital transformation, the enterprise's traditional workshops have been moving towards intelligence, with online control of data such as staff, machines and materials, which has greatly improved work efficiency and product quality. Meanwhile, the region helps its traditional manufacturing industry, such as equipment, energy and materials, break away from extensive production through developing new quality productive forces and gradually establish an intelligent, modern and intensive industrial system. The full revitalization of northeast China lies in reform and opening up, Xi stressed, calling for efforts to build a law-based government, optimize the business environment and improve the modern enterprise system with Chinese characteristics. Country: China
