About Us

Company Name: Ningbo Sunhon International Co., Ltd.

Business Type: Manufacturer , Trade Company

Main Products: Electric Scooter , Electric Bicycle , Hover Board , Electric Motorcycle , GO Kart , Ride On Car

Export Percentage: 91% - 100%

Year Established: 2019

NEWS
While efforts to contain COVID-19 continue in Shanghai, the city's key industries and enterprises are gradually resuming production to ensure the needs of industrial and supply chains can be met. As of Saturday, more than 700 vehicles have rolled off the restarted assembly line at SAIC Motor's plant in Lingang in the southeast of the city, said Ji Qiwei, vice-general manager of SAIC Motor Passenger Vehicle. SAIC, China's largest listed automaker, began running stress tests at the plant on April 18, and the first complete vehicle rolled off the assembly line on April 19. "With the gradual recovery of logistics and the supply chain, we have started to evaluate our production line and supply chain and adjust preparations for resumed production. The stress tests will allow us to further expand capacity," said Chen Peifeng, a director at SAIC Motor's Lingang plant. Production has also slowly restarted at SAIC Motor's plants in Nanjing, Jiangsu province; Zhengzhou, Henan province; and Ningde, Fujian province. "We have restored 90 percent of our production capacity, and 75 percent of our front-line staff have returned to work," said Jiang Cailin, general manager of Shanghai Electric Nuclear Power Equipment. More front-line staff will get back to work in the following days, he added. Currently, 70 percent of the city's 666 key enterprises have resumed operation, Zhang Wei, vice-mayor of Shanghai, said during a news conference on Friday. The resumption of production at these bellwether enterprises will drive a large number of companies along the manufacturing and industrial chains to resume production, said Wu Jincheng, director of the Shanghai Commission of Economy and Informatization. According to Chen, supply chains have been challenged by the current outbreak, and the group is working hard to get them and industrial chains across the Yangtze River Delta region back to normal. "We are evaluating more than 400 parts and component suppliers, looking into their staff, resources and production situation so that we can get production back on track amid the current outbreak conditions," Chen said. Ji of SAIC said, "The domestic market may be impacted a little by the COVID-19 outbreak this year, but our export market will continue to see strong growth." He added that the company exported 250,000 passenger vehicles last year. Some 30 percent of SAIC's passenger vehicles are exported to markets in North America, Oceania, Asia, Europe, Africa and South America, Chen said. Currently, customs clearance and transportation efficiency are still below normal, according to Vice-Mayor Zhang. The Ministry of Transport and neighboring provinces and cities have worked together on various measures to ensure Shanghai's core function as an international shipping center is maintained, Zhang said, adding logistics on the roads, railways and waterways were assured. Multimodal transport and contactless technology are being used to get bulk cargo from Shanghai to domestic destinations. The average daily throughput of containers at Shanghai Port has exceeded 100,000 TEUs (twenty-foot equivalent units) since the beginning of April, allowing the city to function relatively normally as a center of international shipping while dealing with its COVID-19 outbreak, according to Zhang. Shanghai's ocean-railway multimodal transportation has maintained operational efficiency despite the resurgence of COVID-19. Containers can be shipped directly via rail to Yangshan's Luchao Port Center in Pudong New Area and continue their voyage from Yangshan Port and beyond, said Wang Mingwei, deputy manager of the center. Luchao Port Center has kept running around the clock during the current outbreak to guarantee the stability of supply chains and further help the resumption of production, according to Shanghai Railway Group. Since March, when the metropolis began its battle with its worst COVID-19 outbreak in over two years, 655 ocean-rail multimodal train services have run, transporting 84,000 TEUs in cargo, up 42 percent year-on-year, according to Shanghai Railway Group. Following the resumption of automobile production and of related key parts and components, the city will gradually promote the resumption of other enterprises in other key sectors, Wu said. BY | China Daily

2022-04-26

Trucks arrive to pick up containers at the Port of Los Angeles in Los Angeles, California, on Nov 22, 2021. [Photo/Agencies] Whether it is the roar of a Harley-Davidson motorcycle, the aroma of fine wine or the thrill of sports, shared passions can help people find connections that transcend differences in language and culture. So says Kenneth Wong, a principal at NavPac Advisors, of what can happen when people find a common theme that links them to one another. "All of a sudden, the world becomes so much smaller", said Wong, whose consultancy helps organizations in the United States and China expand into each other's territory. Wong made the comments on Monday in a podcast conversation hosted by Chris Marquis, professor of Chinese management at the University of Cambridge Judge Business School. Jeff Ji, also a principal at NavPac and CEO of KnightHawks Tours based in Pennsylvania, recalled how the iconic Harley-Davidson motorcycle brand brought businesses and people together from the US and China more than a decade ago. Ji received a request from a deputy governor of China's Shandong province in 2005 to go on a Harley-Davidson tour. They were so impressed that the province issued an invitation to the Harley Owners Group-a club for Harley-Davidson enthusiasts in the US-to ride in Shandong. After much planning and site investigations, 12 HOG members were selected to participate in the Ride to Confucius tour in 2008. The journey, which started in the Shandong capital Jinan and ended at Confucius's hometown Qufu, took 10 days and covered 1,200 kilometers. "At that time there were only three Harley dealerships in China. Now there are 25 dealers," said Ji. Ji said some Chinese Harley owners came and joined the ride. Along the way, many Chinese came to see the bikes. Harley's Qingdao dealership sold out the bikes quickly. The tour and subsequent dealerships helped to turn the Harley-Davidson motorcycle into a lifestyle for some Chinese enthusiasts. Ji and Wong then organized the Harley-Davidson heritage tour in 2011, inviting a group of Chinese Harley owners to ride more than 3,600 kilometers through eight states in 12 days. With a Chinese flag on the back of each motorcycle, the group was warmly welcomed and joined by HOG members. "You can see that people appreciate the opportunity to ride with the Chinese," he said. Wong, who served on the Commission for Asian Americans and Pacific Islanders under former US president George W. Bush, recalled that when some politicians called for a boycott of the 2008 Beijing Olympics, he had a conversation with Bush. "I said the only people you are going to hurt with boycotting are your own athletes who trained their entire life for this moment at the world stage of the Olympics. I encouraged him to consider going to support American athletes," Wong said. Wong said that despite all the negative rhetoric in the media concerning the bilateral relationship, people have a strong desire to continue to do business with each other. "Our trade with China keeps a lot of people working in the US and vice versa," he said. "Even from a patriotic perspective, global trade is important to keep our economy going." BY | China Daily

2022-04-22

Pedestrians will soon be able to zoom around downtown Bradenton and the Riverwalk on electric scooters and bicycles. Bradenton's City Council unanimously selected California-based Bird Rides as the city's micro-mobility operator during a meeting Wednesday. Proposals from Bird Rides and VeoRide Inc. were considered by an evaluation committee. City Administrator Rob Perry will now negotiate a two-year contract with Bird Rides, including terms for a revenue share, and will present the terms to the City Council at a future meeting. "We'll be putting together a program with them to hopefully deliver a really cool thing to the public for the downtown area of Bradenton," Perry said. Once a contract is approved, Bird Rides will be able to offer electric scooters and bikes around downtown Bradenton and the Riverwalk. "Bradenton would join a dozen other cities in Florida where Bird is operating," Bird Rides spokesperson Lily Gordon said. "As tourism picks up, expanding to Bradenton – with its vibrant downtown – was a natural fit." Bradenton Police Department Lt. Phillip Waller was among the committee members to evaluate the rideshare program, and on Wednesday he told the City Council he personally liked the safety features Bird Rides offers. The Bird Rides operating system has the ability to enforce speed limits, no ride areas, and low-speed zones. "We have no major bike lanes, we have no major pedestrian barriers here," Waller said. "Bird has the technology to guide scooter riders around that to make it safer." Perry said bringing micro-mobility options to downtown Bradenton will be "awesome" for residents. "I think as you go to thriving cities, the whole issue of mobility and electric vehicles are really important to the public," Perry said. "We think it's an awesome feature we are able to offer so you can get around and see the beauty of the city." BY | Herald-Tribune

2022-04-20

View of 380 kV transmission towers (electricity pylones) that are not yet carrying power lines, standing next to T-shaped pylones carrying 110 kV lines (C), near Golzow, Brandenburg, Germany on Dec 3, 2021. [Photo/Agencies] New legislation aims to increase share of renewables to 80 percent by 2030 New German legislation promises to expedite the country's green-energy transition, by doubling renewable power capacity during the next eight years, and achieving 100-percent green electricity supply by 2035. The nation's federal government has submitted a draft of its so-called Easter Package, which is a bundle of legislative measures aimed at developing renewables, including reforms to the country's Renewable Energy Act and its Off shore Wind Law. The crisis in Ukraine has added extra impetus to the renewable energy transition, since Germany burns natural gas for around 15 percent of its electricity, with Russia the main supplier. Finance Minister Christian Lindner recently referred to renewable power as "freedom energy". Highlighting the need for reform, Germany's economy minister, Robert Habeck, said at a news conference the "climate crisis is coming to a head" and that the conflict in Ukraine "shows how important it is to phase out fossil fuels and promote the expansion of renewables". The new legislation aims to increase the share of renewables in Germany's energy mix, from around 42 percent in 2021 to 80 percent in 2030. The package also commits Germany to sourcing all of its electricity from renewables by 2035. Previously, the German government had said this would be achieved "before 2040". Wind energy will play a large part in the transition, with the aim of reaching 30 gigawatts of installed off shore wind capacity by 2030, and at least 70 gigawatts by 2045. Onshore wind capacity is set to reach 115 gigawatts in 2030, according to the new legislation, compared to the current 56 gigawatts. Germany currently has around 7.7 gigawatts of installed off shore wind capacity, in third place behind the United Kingdom and China, though development has slowed in recent years. The nation added 219 megawatts of offshore wind power in 2020, and no off shore wind turbines last year. Germany also issued fewer onshore wind permits in the first quarter of this year than in the same period last year. Habeck, the economy minister, told reporters on Tuesday this low growth in the wind power sector is at odds with the proposed reforms in the Easter Package. "We want to change that," he said. "It is unsatisfactory." The package was largely welcomed by green-energy industry players and environmentalists. Jurgen Zeschky, chief executive of ENERCON, a German supplier of wind energy converters, said his company would "support this undertaking to the best of our abilities". "After years of a slumping market, a wind energy renaissance in Germany is finally in sight, which makes us very glad," Zeschky said. Reenie Vietheer, an energy specialist for environmental campaign group Greenpeace Germany, said the Easter Package was "more decisive than anything we've seen on it in recent years". "If essential points are added to the draft, the expansion of renewables can pick up at the necessary pace," Vietheer said. BY | China Daily

2022-04-14

China is the world`s largest business-to-customer (B2C) cross-border e-commerce market. About 26 percent of global B2C transactions took place in the Chinese mainland, followed by the United States which had 21 percent, according to statistics from online payments giant Paypal. Cross-border e-commerce has become an important force stabilizing China`s foreign trade, as its import and export value reached 1.98 trillion yuan ($312 billion) in 2021, up 15 percent year-on-year. There are a total of 132 cross-border e-commerce pilot zones in China, covering almost all provincial-level regions from coastal industrial powerhouses such as Jiangsu, Zhejiang and Guangdong to inland areas. China is ramping up efforts to promote global cooperation in e-commerce and has established long-term bilateral e-commerce cooperation with more than 20 countries. By now, China has built more than 2,000 overseas warehouses, with their total area exceeding 16,000,000 square meters. BY | China Daily

2022-03-30

The Hong Kong-registered container vessel Nadi Chief is ready for unloading on Sunday night at Ningbo-Zhoushan Port, Zhengjiang province. YAO FENG/FOR CHINA DAILY China's top 100 cities contributed around 70 percent of the country's GDP last year, playing an increasingly important role in supporting the nation's overall growth. The cities created a combined GDP of around 80 trillion yuan ($13 trillion) in 2021, the lion's share of the nation's gross domestic product of 114.4 trillion yuan, showcasing the resilience of the Chinese economy and auguring well for the country's high-quality development over the next few years, experts said. The top 100 list includes cities with a GDP of at least 308.3 billion yuan, up 28.12 billion yuan from the previous year. Jiangsu province did better than all other provincial-level areas, with 13 of its cities making the list. Shandong province was second with 11 and Guangdong province next with 10. Yang Gangqiang, vice-president of Wuhan University's Institute of Regional and Urban-Rural Development, said the top 100 cities are mainly located in areas benefiting from major national development strategies, including Beijing, Tianjin and Hebei; the Yangtze River Economic Belt; the Yangtze River Delta region; and the Guangdong-Hong Kong-Macao Greater Bay Area. "It indicates that the implementation of the country's major regional strategies has significantly promoted the development of the regional economy," Yang added. He attributed the accelerated development of cities in Jiangsu, Guangdong and Shandong to their rapid transformation and upgrading as well as strong innovation-driven growth. More efforts should be made to promote the allocation of factors of production including land, labor and technology, give full play to the crucial role of central cities and city clusters in radiating and driving the development of the surrounding cities and further deepen opening-up and regional cooperation, Yang added. Jia Ruoxiang, director of the comprehensive research office at the National Development and Reform Commission's Institute of Spatial Planning and Regional Economy, said cities on the east coast and in the central and western regions made great strides and were a driving force in stabilizing the economy last year. Most of the cities with robust growth have strong innovation capabilities and a modern industrial system, showcasing strong resilience and great potential, Jia said. He added that fluctuations in energy prices and the rapid development of new energy sectors have driven up the growth of some cities, such as Erdos in the Inner Mongolia autonomous region, Yulin in Shaanxi province and Ningde in Fujian province. Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center of Zhejiang University's International Business School, said the rapid growth of some of the leading cities has been buoyed by the development of emerging manufacturing sectors and fields related to new energies. Production and development of new vaccines and other urgently needed medical supplies have also provided a boost. The government's decision to build eight national computing hubs and 10 national data center clusters showed China is taking steps to channel more computing resources from its eastern regions to the less-developed but resource-rich western regions, he said. The move is expected to inject impetus into the digital economy and foster more balanced development across China, Pan added. Zheng Lei, vice-president of the Hong Kong International New Economics Research Institute, said that instead of waiting for the transfer of industries from the eastern coast, western regions should create city clusters to promote the coordinated development of a region. The Lanzhou-Xining-Tianshui city cluster in Northwest China to promote an industrial upgrade is an example of this type of construction, he said. Despite the strong growth in 2021, experts said the Chinese economy still faces multiple challenges amid a complicated external environment and rising domestic COVID-19 cases, with policymakers expected to increase fiscal and monetary support to shore up growth this year. Tommy Wu, lead economist at the think tank Oxford Economics, said further reductions in the reserve requirement ratio and loan prime rate are expected to support continuing growth. BY | China Daily

2022-03-22

Recovery hopes in region brighten with key market's GDP target, experts say Aerial photo taken on Dec 1, 2021 shows the container terminal in Lianyungang, East China's Jiangsu province. [Photo/Xinhua] A growth target of 5.5 percent for the Chinese economy this year will boost recovery prospects in Southeast Asia, with the region expected to benefit from strong demand and robust consumption in its biggest trading partner, experts said. The fifth session of the 13th National People's Congress, which closed on Friday, endorsed the Government Work Report delivered by Premier Li Keqiang on March 5. Li said China will focus on stabilizing economic fundamentals this year, with the GDP growth target at around 5.5 percent. "This is good news for Southeast Asia as imports (into) China should remain strong," said Alicia Garcia Herrero, chief economist for Asia-Pacific at French investment bank Natixis. Lillian Li, vice-president and senior credit officer at Moody's Investors Service, said the 5.5 percent target indicates that "China's economy is normalizing". This will have implications not only in China but for the rest of developing Asia. "Given the importance of China as both final demand market-it is the top export market-and as the supply chain center in Asia, the rest of Asia would likely benefit from a stable overall demand from China," Lillian Li said. She also said that China's growth is facing "rising downside pressures" amid issues such as uncertainties brought by the COVID-19 pandemic and a slowdown in the nation's property sector. Southeast Asian countries have been gradually reopening their borders in the past few months, hoping to bolster economies that have been devastated by the pandemic over the past two years. Analysts believe China's rosy economic outlook and increased domestic consumption will benefit Southeast Asian nations as they are key exporters to China. Iris Pang, ING Group's chief economist for Greater China, said increased global shipping costs might prompt China to trade more with neighboring countries instead of importing from more distant regions. Prices of bunker fuel, which powers shipping vessels, have been rising in the past few days, adding to upward pressures on freight costs. The increase in bunker fuel prices tracks the rally in oil prices as an intensifying conflict between Ukraine and Russia threatens global energy supplies. Southeast Asia, home to more than 600 million people, became China's largest trading partner in 2020, and trade continued to maintain strong growth momentum even amid the pandemic. According to China's General Administration of Customs, China's trade with Southeast Asia rose by 19.7 percent to 5.67 trillion yuan ($890 billion) in 2021. The Asian Development Bank said the Asia-Pacific region maintained strong intraregional trade links during the pandemic. According to the Manila-based lender, intraregional trade in the Asia-Pacific as a share of the region's total trade rose to a 30-year high of 58.5 percent in 2020. "This expansion has been bolstered by deepening regional value chains and has been undeterred by the pandemic," the ADB said, noting that China has played a key role as a major trading partner for other Asian countries. Premier Li said in his report that China will implement a program to stabilize foreign trade and help foreign trade enterprises receive orders and maintain production. He added that China will increase imports of quality products and services and explore new ways to develop trade in services and digital trade. Apart from serving as an export market, China is also a key source of investments and tourists for Southeast Asia. Herrero said the absence of Chinese tourists in the market remains a challenge for Asian countries that depend on arrivals from China. BY | China Daily

2022-03-17

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua] The renminbi is becoming increasingly popular as an international negotiable instrument, a medium of exchange to settle global transactions, with its proportion in international payments rising to 3.2 percent in January, breaking the record set in 2015. And the currency tends to serve as a safe haven because of the recent heightened market volatility. The renminbi ranked only 35th when SWIFT began tracking global payment data in October 2010. Now, it ranks fourth. This means the Chinese currency's internationalization process has gained pace in recent times. What are the factors behind the renminbi's rising popularity as a global medium of exchange? First, the international community today has greater confidence in China's economy, because of the country's sound economic fundamentals and steady growth. In 2021, China achieved a GDP growth of 8.1 percent year-on-year-higher not only than the 8 percent forecast by global financial institutions and ratings agencies but also the 6 percent target set by the Chinese government at the beginning of last year. The strength of the Chinese economy is reflected in the country's GDP of 114 trillion yuan ($18 trillion), the second-highest in the world and accounting for more than 18 percent of the global economy. The strong performance of the Chinese economy, along with its rising share in the global economy and trade, has prompted many central banks and international investors to acquire renminbi assets in large amounts. In January alone, the amount of major Chinese bonds held by central banks across the world and global investors increased by more than 50 billion yuan. For many of these central banks and investors, quality Chinese bonds remain the first choice of investment. And by the end of January, total foreign renminbi holdings exceeded 2.5 trillion yuan. Second, renminbi assets have become a "safe haven" for a large number of financial institutions and foreign investors. The Chinese currency has also been playing the role of a "stabilizer" in the global economy. No wonder the renminbi's exchange rate showed a strong rising trend in 2021, with its exchange rate against the US dollar appreciating by 2.3 percent. In addition, since the Chinese government is expected to launch a relatively loose monetary policy this year, China's foreign exchange reserves are likely to increase steadily. This, too, has boosted the confidence of central banks and international investors in the renminbi. Moreover, with the International Monetary Fund set to review the composition and valuation of the Special Drawing Rights basket in July, the proportion of the renminbi is expected to increase in the IMF's currency mix, partly because of the strong and growing renminbi-denominated trade and China's increasing share in global trade. These factors have not only enhanced the status of the renminbi as a global reserve currency but also prompted many international investors and financial institutions to increase their assets in the Chinese currency. As the process of the renminbi's internationalization gathers pace, international markets, including financial institutions and investment banks, are showing greater confidence in the Chinese economy and currency. And with the steady growth of China's economy, the global demand for the renminbi as a medium of exchange, as well as reserves, will continue to increase. The Hong Kong Special Administrative Region, the world's largest offshore renminbi trading center, handles about 76 percent of the world's offshore renminbi settlement business. And the SAR is expected to play a more active role in the renminbi's internationalization process in the future. The author is the dean of Hainan University Belt and Road Research Institute. BY | China Daily

2022-03-14

Cargos are unloaded from a container ship at the container terminal of the Lianyungang Port in East China's Jiangsu province. [Photo/Xinhua] China's imports and exports totaled 6.2 trillion yuan ($980 billion) in the first two months of the year, up 13.3 percent from a year ago, the General Administration of Customs said on Monday. Exports over the period surged by 13.6 percent year-on-year to 3.47 trillion yuan, while imports hit 2.73 trillion yuan, growing 12.9 percent. Li Kuiwen, director-general of GAI's statistics and analysis department, said those figures showed a stable performance of the nation's foreign trade at the beginning of the year, despite increasingly complex external conditions. The achievement was mainly thanks to the strong resilience of the Chinese economy, which has long-term healthy fundamentals, as well as the effects of policy measures targeted at stabilizing growth, he said. BY | China Daily

2022-03-07

A housing renewal project is seen under construction in Dongguan, Guangdong province. [Photo provided to China Daily] Rental homes and loans seen as key to meeting rising urban demand Housing price adjustments and restructuring of demand are good for China's financial sector but regulators expect to see a smooth transition rather than drastic adjustments that could have a huge economic impact, one of China's top financial regulators said on Wednesday. "Nowadays, housing loans account for a large part of total loans at large commercial banks. We have repeatedly reminded banks to pay attention to risks, as many people borrow to buy homes for investment or speculation. If housing prices decline (unreasonably or irrationally) or some other problems emerge, a huge financial crisis will hit markets," said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, at a news conference held by the State Council Information Office. Despite slump in housing prices last year, homes, especially rental housing, and home decorations are still needed. Therefore, it is very meaningful to provide financial services in this regard, Guo said. "No matter how much housing prices fall, it will still be difficult to meet housing demand of the working class, especially migrant workers who become new urban residents. In the future, we need to solve the problem by developing rental housing," said Tian Guoli, chairman of China Construction Bank Corp, a large State-owned commercial lender. "If we keep designing rental housing-related financial products, many residents will get used to renting a home gradually," Tian said. China Construction Bank developed a rental housing platform connecting landlords with tenants, which now covers more than 300 cities across the country. Over 38 million people have registered on the platform and conducted transactions so far, he said. The CBIRC and the People's Bank of China, the central bank, will soon release a document guiding banks and insurers to offer financial services to new urban residents-that is to say, people who live in cities but have not yet obtained an urban hukou, a system of household registration in China, or those who have got an urban hukou for less than three years. China has more than 300 million new urban residents with demand for housing, jobs, child education and eldercare, Guo said. He also stressed financial risks in priority areas remained under control last year. From 2017 to 2021, China dismantled 25 trillion yuan ($3.96 trillion) worth of shadow banking activities and disposed of about 12 trillion yuan of nonperforming assets. The situation of local governments' hidden debt has improved, and regulators have dealt with a group of high-risk companies and financial institutions that violated laws and regulations, he said. BY | CHINA DAILY

2022-03-03

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