Tag: Shanghai

Business

FinVolution Group Wins Best Consumer Lending Tech Award in China

Jun 24, 2024 by Sujata Muguda 0 Comments #a leading fintech company, #Best Consumer Lending Tech Award in China, #CEO of FinVolution Group, #CITIC Consumer Finance, #FinVolution Group, #Shanghai, #Tiezheng Li

SHANGHAI, June 24, 2024  — FinVolution Group, a leading fintech company, has been awarded the “Best Consumer Lending Technology Implementation in China” alongside CITIC Consumer Finance at the Asian Banker China Awards 2024. This award acknowledges FinVolution’s dedication to providing innovative technology to financial institution partners.

FinVolution Logo

The Asian Banker Awards are known for their rigorous and transparent evaluation process within China’s financial industry. This year, the awards received over 400 entries from more than 160 institutions across the financial and fintech sectors.

The award highlighted FinVolution’s efforts in enhancing the resources and business scale of its partner, CITIC Consumer Finance, through improved financial risk control and technological innovation.

In recent years, FinVolution has closely collaborated with financial institutions to enhance microfinance and consumer finance through advanced technology and services. By the first quarter of 2024, FinVolution had served 102 licensed financial institutions, including banks, consumer finance companies, and trusts.

FinVolution’s partnership with CITIC Consumer Finance has improved digitalization and efficiency in CITIC’s customer acquisition, risk management, and fraud prevention. This collaboration has led to a significant expansion of resources and business scale, as well as improved risk indicators.

Tiezheng Li, CEO of FinVolution Group, said, “We are pleased to receive this award with CITIC Consumer Finance. FinVolution is committed to developing technology that connects financial institutions with underserved populations and supports our partners in enhancing their digital capabilities with secure and efficient financial technology services.”

Since its founding in 2007, FinVolution has continually innovated to deliver comprehensive fintech solutions. Today, it stands as a trusted partner to over 100 financial institutions and millions of users, driving forward the future of finance through technology.

News

World Environment Month 2024: Building a Better, Greener Future with Technology

Jun 17, 2024 by Sujata Muguda 0 Comments #Chairman of SANY Renewable Energy, #Greener Future with Technology, #Shanghai, #Technological breakthrough, #World Environment Month 2024, #World Ocean Day on June 8th, #Zhou Fugui

SHANGHAI, June 17, 2024  — With a series of internationally-recognized environmental days throughout June, including the World Environment Day on June 5th, World Ocean Day on June 8th, and the World Day to Combat Desertification and Drought on June 17th, environmental awareness is a major topic of conversation. As part of this, the close relationship between environmental protection and renewable energy is also being discussed as the world joins efforts to combat climate change.

Building-a-Better--Greener-Future-with-Technology

Leading Chinese heavy equipment manufacturer SANY Group (“SANY”) remains committed to promoting environmental protection. The group is deploying wind energy projects on a large scale, making significant progress in reducing greenhouse gas emissions, promoting the transformation of energy structure, and fostering sustainable economic development.

SANY Renewable Energy, as a leading wind power equipment manufacturer, has become the backbone of the global green energy revolution through continuous technological innovation achievements and investment in R&D.

Technological breakthrough: dual-axis excitation system

Independently designed and developed by SANY Renewable Energy, China’s first ground-fixed, two-exciter vibration system has been officially put into operation, passing the fatigue test of 112-meter wind turbine blades, and marking a milestone breakthrough in China’s blade equipment development.

The system consists of two modular excitation units that replace the traditional mass pendulum through coordinated control of the crank arm rocker. The controlled coupling loading of multi-directional loads on the blades can restore complex blade loads under real working conditions, fully validating blades of all sizes and angles.

Compared to traditional uniaxial testing, the biaxial fatigue test combines the pendulum vibration and waving load to shorten the verification cycle by three to four months. Importantly, the excitation force of up to 140kN is several times higher than current equipment capabilities, fulfilling design verification requirements for wind turbines up to 30MW. Next, the equipment set will be used to test and verify the 131-meter blade recently launched by SANY Renewable Energy.

In recent years, SANY has been consistently achieving breakthroughs in wind power technology, with the SI-230100 wind turbine being recognized by Windpower Monthly as one of the world’s top 10 onshore wind turbines, winning the Gold Award in the category for onshore wind turbines over 5.6MW.

Safeguarding sustainable development of the wind energy industry

Technological innovation is fueling the rapid development of wind energy, and an ever-improving verification system guarantees its sustainability. In 2024, SANY Renewable Energy successfully launched the world’s longest 131-meter onshore blade, presenting new challenges for verification reliability. The two-exciter vibration system provides strong support for the efficient, precise, and comprehensive testing and verification of blades over 100 meters in length, contributing to the development of large megawatt units.

“Green and sustainable development is the key focus of modern social and economic development, and globally we’re undergoing a green industrial revolution to achieve carbon neutrality. SANY as an industry leader will continue to promote green industrial development driven by technological innovation and expand the applications and scale of clean and renewable energy globally to build a better future for everyone,” said Zhou Fugui, Chairman of SANY Renewable Energy.

News

World Environment Month 2024: Building a Better, Greener Future with Technology

Jun 17, 2024 by Sujata Muguda 0 Comments #Chairman of SANY Renewable Energy, #Greener Future with Technology, #Shanghai, #Technological breakthrough, #World Environment Month 2024, #World Ocean Day on June 8th, #Zhou Fugui

SHANGHAI, June 17, 2024  — With a series of internationally-recognized environmental days throughout June, including the World Environment Day on June 5th, World Ocean Day on June 8th, and the World Day to Combat Desertification and Drought on June 17th, environmental awareness is a major topic of conversation. As part of this, the close relationship between environmental protection and renewable energy is also being discussed as the world joins efforts to combat climate change.

Building-a-Better--Greener-Future-with-Technology

Leading Chinese heavy equipment manufacturer SANY Group (“SANY”) remains committed to promoting environmental protection. The group is deploying wind energy projects on a large scale, making significant progress in reducing greenhouse gas emissions, promoting the transformation of energy structure, and fostering sustainable economic development.

SANY Renewable Energy, as a leading wind power equipment manufacturer, has become the backbone of the global green energy revolution through continuous technological innovation achievements and investment in R&D.

Technological breakthrough: dual-axis excitation system

Independently designed and developed by SANY Renewable Energy, China’s first ground-fixed, two-exciter vibration system has been officially put into operation, passing the fatigue test of 112-meter wind turbine blades, and marking a milestone breakthrough in China’s blade equipment development.

The system consists of two modular excitation units that replace the traditional mass pendulum through coordinated control of the crank arm rocker. The controlled coupling loading of multi-directional loads on the blades can restore complex blade loads under real working conditions, fully validating blades of all sizes and angles.

Compared to traditional uniaxial testing, the biaxial fatigue test combines the pendulum vibration and waving load to shorten the verification cycle by three to four months. Importantly, the excitation force of up to 140kN is several times higher than current equipment capabilities, fulfilling design verification requirements for wind turbines up to 30MW. Next, the equipment set will be used to test and verify the 131-meter blade recently launched by SANY Renewable Energy.

In recent years, SANY has been consistently achieving breakthroughs in wind power technology, with the SI-230100 wind turbine being recognized by Windpower Monthly as one of the world’s top 10 onshore wind turbines, winning the Gold Award in the category for onshore wind turbines over 5.6MW.

Safeguarding sustainable development of the wind energy industry

Technological innovation is fueling the rapid development of wind energy, and an ever-improving verification system guarantees its sustainability. In 2024, SANY Renewable Energy successfully launched the world’s longest 131-meter onshore blade, presenting new challenges for verification reliability. The two-exciter vibration system provides strong support for the efficient, precise, and comprehensive testing and verification of blades over 100 meters in length, contributing to the development of large megawatt units.

“Green and sustainable development is the key focus of modern social and economic development, and globally we’re undergoing a green industrial revolution to achieve carbon neutrality. SANY as an industry leader will continue to promote green industrial development driven by technological innovation and expand the applications and scale of clean and renewable energy globally to build a better future for everyone,” said Zhou Fugui, Chairman of SANY Renewable Energy.

Technology

Sungrow Shares 10 Major Technological Trends in Renewable Energy Industry

Jun 17, 2024 by Sujata Muguda 0 Comments #10 Major Technological Trends, #DEPCO, #Electronic Designer Based on Large Language Model, #oltage Level in PV Systems, #Renewable Energy Industry, #Shanghai, #Sungrow, #the global leading PV inverter

SHANGHAI, June 17, 2024 — Sungrow, the global leading PV inverter and energy storage system provider, shared 10 major technological trends at the recent Ph.D Talk event in Shanghai. With an investment of 2.45 billion yuan (approximately 347 million) in R&D throughout 2023, the company stands at the forefront of technological innovation. Embracing their brand-new tagline “Bridge to a Sustainable Future”, Sungrow is dedicated to bridging the gap and making clean energy accessible to everyone.

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Ph.D. Xu Jun, Vice President of Sungrow Research Center, highlighted 10 Major Technological Trends at Ph.D. Talk:

The Application of New Semiconductor Devices

To achieve net-zero carbon emissions, advancements in energy generation, transmission, and conversion efficiency are crucial. According to Diamfab, diamond has the potential to become the ultimate WBG semiconductor material for high-power electronics. Diamond possesses ideal characteristics for high-voltage operation, high-temperature applications, and high-frequency switching, with a critical electric field 30 times higher than Si and 3 times higher than SiC.

The Extended Utilization of Solid-State Transformer (SST) Technology and Medium-Voltage Photovoltaic (PV) Inverters

The medium-voltage PV power generation system based on SST technology offers a higher power density compared to traditional solutions, with an overall improvement in conversion efficiency. In the future, SST technology may find applications in MW-level charging stations, HVDC power supply systems for data centers, energy routers, and more. Notably, Sungrow developed the world’s first 35kV SST-based PV inverter in 2022.

Further Enhancement of Direct Current (DC) Voltage Level in PV Systems

The increase of DC voltage in PV systems not only increases power density and efficiency but also reduces infrastructure and maintenance costs. Notably, Sungrow achieved a groundbreaking milestone by becoming the world’s first company to introduce the 2000V solar-plus-storage high-voltage system and successfully integrating it into the grid in Yulin, Shaanxi.

Improving the Overall Lifecycle Efficiency of PV Power Plants through Digitization and AI

Sungrow has introduced the concept of DEPCO (Development, Engineering, Procurement, Construction, Operation), bringing about comprehensive digitization to renewable energy power plants. The company has developed cutting-edge software solutions, namely iSolarTool for optimizing the design of large-scale PV power plants, and iSolarBP for commercial and industrial PV assessment and design. By leveraging AI intelligence, these innovative tools enable end-to-end system optimization, effectively boosting the efficiency and profitability of renewable energy development. Currently, these solutions are in the industry trial phase.

“PE Agent,” a Power Electronic Designer Based on Large Language Model (LLM)

During the energy transition, AI intelligence will play an increasingly significant role. PE Agent can facilitate seamless communication between AI and AI, as well as between AI and humans, enabling intelligent management of the entire process of power electronics design and achieving “self-learning” and “self-evolution.”

High Voltage Direct Current (HVDC) Technology

HVDC systems provide faster active power flow control compared to the more established CSC-HVDC technology. Additionally, they offer flexible and enhanced reactive power controllability at both converter terminals.

Source-Grid-Load-Storage Integration: Driving the Rapid Development of Energy Bases and Future Urban Construction

The construction strategy for the source-grid-load-storage operation mode in renewable energy integration can leverage multiple energy sources, enhance grid capacity for renewable energy integration and economic efficiency of active distribution grid operations.

Grid-Forming (GFM) Technology

GFM technology provide rapid, accurate, and standardized dynamic responses to grid faults and disturbances. It offers strong support for the stable operation of new power systems in various application scenarios.

Virtual Power Plants (VVPs)

VVPs are networks comprising small-scale energy-producing or storage devices, such as solar panels and batteries, that are aggregated to serve the electricity grid. With the consent of their owners, the energy generated by these devices can be accessed by utilities during periods of high demand or saved for future use.

Green Hydrogen

The off-grid solar-hydrogen solution, IGBT-based hydrogen production rectifier power supply, and the integration of hydrogen for complete energy self-sufficiency in residential buildings with PV and battery storage systems can further enhance energy efficiency.

Business

Bakery China Concludes The 26th Edition with a Whopping 393,009 Visits in Shanghai

Jun 12, 2024 by Sujata Muguda 0 Comments #009, #Bakery China, #Bakery China Exhibitions Co., #China Association of Bakery and Confectionery Industry, #Global Integration for Coordinated Industry Development, #Ltd, #Shanghai, #The 26th Bakery China, #The 26th Edition with a Whopping 393, #Zhen Hongguo

SHANGHAI, June 12, 2024 — The 26th Bakery China, co-organized by the China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd., concluded successfully on May 24th. This exhibition reached unprecedented heights with a 320,000-square-meter area, encompassing the entire industry chain. With over 2,200 exhibitors from more than 30 countries and regions, it showcased an impressive array of over 100,000 brands. The event garnered a remarkable total of 393,009 visits from professional buyers.

Spanning 4 days, the exhibition focused on showcasing the industry’s current state and specific developmental prospects. Its aim was to help the bakery industry meet evolving demands from diverse scenarios and demographics in innovative ways, while providing a platform for sharing countless business opportunities.

Fostering Global Integration for Coordinated Industry Development

The exhibition attracted buyer delegations from emerging markets or those with high purchasing power, such as Asia, the Middle East, Europe, and Oceania, resulting in over 10,000 visits from beyond China. The International Trade Match-Making service facilitated over 3,000 precise business matchmaking sessions. More than 90% of international buyers expressed satisfaction with the services. “We are very loyal to Bakery China for at least 7 or 8 years.” commented a French buyer.

“More and more international buyers and professional bakers and industrial bakers are coming to China to source for more equipment, bakery needs and looking forward for new innovations and new trends,” said Zhen Hongguo, President of Filipino-Chinese Bakery Association, Inc.

The Bakery Products market in China is anticipated to achieve a projected market size of US$162.4 billion by 2030. This growth trajectory is attracting an increasing number of international buyers, professional and industrial bakers to China, seeking to procure advanced equipment and ingredients to meet their baking needs. They are actively exploring innovative avenues for development and emerging trends in the industry.

Forging an Innovative and Digitalized Integrated Platform

With over 2,200 industry supply chain participants, the exhibition comprehensively showcased cutting-edge innovation trends across various dimensions. Teaming up with globally renowned consulting firms like Euromonitor, Innova, and Mintel, it provided firsthand data and innovative trends from China and other key markets. Additionally, the showcase of Bakery China Go Green exemplary cases demonstrated responses to global decarbonization and emission reduction initiatives.

Diverse activities, including nearly thirty forums, four thematic competitions, one bazaar, multiple industry cluster zones, and more, were integrated into the exhibition. By connecting food, fashion, culture, and art, it truly created an annual event that breaks boundaries. Moreover, the digital platform iBakeryChina pioneers a layered exhibition hall layout and enables real-time synchronization between exhibitors’ physical booth locations and their online stores.

Stay tuned for an exciting lineup of upcoming baking events. The Bakery China Autumn & China Home Baking Show 2024 is scheduled to take place from October 17th to 19th at the Wuhan International Expo Center. The 27th Bakery China is set to be held from May 19th to 22nd 2025 at the National Exhibition and Convention Center.

Business

1 Week to Go: Check who will be and what will happen at Hi & Fi Asia-China 2024

Jun 12, 2024 by Sujata Muguda 0 Comments #Chinese Food Import Market, #Hi & Fi Asia-China 2024, #Hi & Fi Asia-China's Groundbreaking Bilingual Forums, #Krystal Wang, #National Exhibition and Convention Center in Shanghai, #Shanghai, #The 25th edition of the Hi & Fi Asia-China

SHANGHAI, June 12, 2024 — The 25th edition of the Hi & Fi Asia-China is set to be the industry’s premier showcase for the latest advancements in natural, functional, and sustainable food ingredients. Taking place from 19-21 June at the National Exhibition and Convention Center in Shanghai, this year’s event will feature cutting-edge innovations, dynamic discovery zones, and a roster of renowned exhibitors who are redefining the future of the food and beverage supply chain.

Industry Experts Gather at Hi & Fi Asia-China’s Groundbreaking Bilingual Forums

Explore the infinite possibilities of the ocean: Co-organized with GOED, marine-based omega-3 sources are taking center stage at the highly anticipated forum, “Diving into Important Marine Sources: Trends, Challenges, and Growth Strategies of Omega-3.” This bilingual event will bring together a distinguished lineup of industry leaders to share their insights on the evolving omega-3 market.

The forum will kick off with a visionary presentation from Nicole Jansen, team manager of Insights & Innovation at Innova Market Insights. She will take the audience on a captivating journey delving into the vast potential of the growing demand for marine resources. The following forum features presentations from Ellen Schutt (GOED), Scott Yi Zhang (Pattern), Ningning Fan (Luhua Biomarine), and Jorge Brahm (Golden Omega), covering a range of topics crucial to the omega-3 industry.

Navigating the Chinese Food Import Market – Key Insights from Industry Experts: As the global food trade landscape continues to evolve, understanding and adhering to China’s evolving import regulations is crucial for any brand seeking to establish a successful presence in this vast and rapidly growing market. By staying informed on the latest changes and proactively addressing compliance requirements, companies can position themselves for long-term success.

Krystal Wang, Business Development Manager at Chemlinked, will take the stage to delve into the intricacies of China’s imported food regulatory landscape at the Conference: Food Import Market Overview and Access Requirements. She will provide attendees with a comprehensive overview of the latest requirements and procedures governing food imports into the Chinese market, equipping them with the knowledge needed to navigate this complex regulatory environment.

Shine a Spotlight on Technological: Food Technology Forum: Technological-Driven Transformation of the Food Supply will provide a valuable platform for industry leaders to come together and discuss the transformative potential of technology in the food supply chain. By fostering open dialogue and sharing best practices, we can unlock new possibilities and drive the sustainable development of the food industry. The lineup of speakers, including representatives from DaoFoods, Nourish Ventures, Antion Consulting, and the Rugao Changshou Future Agricultural Park, will provide valuable insights into the transformative role of technology in the food supply chain.

Immerse in the Innovation wonders transforming the industry.

Pioneering Pet Nutrition Solutions: The untapped potential of the pet industry has now embraced the “big health” wave. Recognizing this trend, the event will feature the ‘Pet Food Innovation Zone’ which will gather leading companies such as Jinnong Bio-tech. Co. Ltd, Sinphar Tian-Li pharmaceutical co.,Ltd(Hang Zhou), Qingdao Bright Moon Seaweed Group Co. Ltd, and Tianjin Tangchao Foods Industry Co. Ltd to display their innovative pet food and ingredient solutions. This specialized zone aims to spotlight the industry’s pioneering breakthroughs in pet nutrition and healthcare.

Cultivating Geographic Ingredients: Concurrently, a specific area will shine a light on the Chinese geographical indication of agricultural products processed into natural food ingredients. Exhibitor groups from regions like Yunnan, Zhejiang, and the Guangxi Spice and Fragrance Association will present their premium ingredients, catering to growing consumer demand for natural, healthy food and providing high-quality sources for the industry.

Business

Shanghai Electric’s Innovative Solutions Spotlighted at Carbon Neutrality Expo

Jun 8, 2024 by Sujata Muguda 0 Comments #Carbon Neutrality Expo, #Shanghai, #Shanghai Electric, #Shanghai Electric's Innovative Solutions, #Shanghai International Neutr ality Expo in Technologies

SHANGHAI, June 8, 2024 – Shanghai Electric is bringing an array of its new energy solutions to the second edition of Shanghai International Neutrality Expo in Technologies, Products, and Achievements, being held from June 5th to 8th.

The highlighted new energy systems at the event, representing significant breakthroughs in Shanghai Electric’s mission to create green-focused technologies to empower the world’s zero-carbon transition, cover wind, photovoltaics, energy storage, and grid, are engineered in line with China’s strategy to transform into a sustainable, carbon-neutral economy in the next few decades.

Also taking center stage at Shanghai Electric’s exhibit are the company’s latest integrated equipment systems designed for better system optimization, simplicity, and intelligent control. Shanghai Electric is showcasing how its forward-looking innovations applied in desert, offshore, and urban energy bases, showcasing to the world its commitment to transformative technologies that help accelerate global decarbonization.

  • For wind energy, Shanghai Electric’s 16MW low-frequency offshore wind turbine, which boasts the world’s largest capacity of its kind, offers numerous advantages. These include enhanced power transmission capabilities, flexible grid connection, and better flexible control.
  • Aiming to boost the performance of energy storage batteries while lowering costs, Shanghai Electric has developed the 500kW/2MWh vanadium-iron liquid flow battery that boasts the largest single-capacity in the world. It features Shanghai Electric’s proprietary electrolyte formula that cuts the cost by 40%, with the battery structure and innovative fluoride-free ion exchange membrane significantly enhancing the battery’s energy density, conversion efficiency, and longevity.
  • Lightweight and compact, Shanghai Electric’s cost-reducing Z series alkaline electrolyzer offers wide load operation, with its single tank hydrogen production ranging from 1000 to 3000Nm3/h and a high current density of 10000A/m.
  • Showcasing innovation in grid systems, Shanghai Electric’s 25Mvar high-inertia flywheel integrated equipment increases the system’s short-circuit capacity and response speed. The kinetic energy of the freewheel combination is 140MW.s, with an inertia time constant of 11.2s. Harnessing the rotational inertia of the flywheel and phase shifter rotor, the flywheel combination instantly releases stored kinetic energy, enhancing system inertia and frequency stability.

At the booth, Shanghai Electric is also displaying the F-class heavy-duty hydrogen-blended turbines, compressed air energy storage systems, ultra-high voltage transformers, and “Guohe One” nuclear power technology, alongside an interactive section demonstrating how Shanghai Electric’s visionary zero-carbon solutions for sea, desert, and city supercharge China’s carbon peak and carbon neutrality initiatives.