DEEP-SEA EXPLORATION: Residents in Xiamen, southeast China's Fujian Province, observe the Jiaolong submarine on July 17 (XIANG KAILAI)

Soaring FDI

China's foreign direct investment (FDI) jumped surprisingly in June, growing 20.12 percent from a year earlier to $14.39 billion, the Ministry of Commerce (MOFCOM) announced on July 17.

The June FDI data did not include overseas fund influxes in banking, securities and insurance sectors but still marked a significant upsurge from a 0.29-percent year-on-year increase seen in May.

The figure marked the fifth consecutive monthly increase since February, when China reported an FDI recovery after seeing monthly declines since June 2012.

"But we cannot conclude that China's FDI has rebounded simply by looking at just a single month's data. We expect the FDI in the second half to grow steadily," MOFCOM spokesman Shen Danyang said at a press conference.

During the first half of the year, China approved the establishment of 10,630 foreign-invested enterprises, down 9.18 percent from a year earlier. FDI totaled $61.98 billion, up 4.9 percent year on year.

Nearly half of the FDI in the January-June period went to the service sector, Shen said.

FDI from the EU and the United States jumped 14.68 percent and 12.29 percent, respectively, to $4.04 billion and $1.83 billion in the first half.

China's western regions saw strong growth in FDI, with an increase of 32.54 percent, compared with a 15.75-percent gain for central regions and a 1.69-percent gain for the east.

Hydropower Operational

China's second largest hydropower station with a capacity of 770,000 kilowatts came into operation on July 15.

The No. 13 generating unit at the Xiluodu hydropower station began providing electricity to the China Southern Power Grid, said its operator China Three Gorges Corp.

With a total generating capacity of 13.86 gigawatts, the station is the world's third largest after the Three Gorges and Brazil's Itaipu hydroelectric project.

Construction of the Xiluodu hydropower station, located at the Jinsha River, a major headstream of the Yangtze River in southwest China's Yunnan and Sichuan provinces, started in 2005. It is expected to be completed in 2015 with 18 power-generating units.

Uranium Mine Drilling

China National Nuclear Corp. (CNNC), the country's largest atomic energy developer, said on July 17 that it has achieved a record drilling depth of 2,818.88 meters in uranium mining.

CNNC announced the technological breakthrough in uranium-rich Fuzhou, capital of southeast China's Fujian Province.

China's uranium prospecting has typically been carried out at depths less than 500 meters. Its previous record drilling depth reached 1,200 meters.

CNNC said the new drilling technology can help boost China's domestic uranium supplies and ensure the key energy source for developing nuclear power.

In addition to the drilling depth, the company said it has independently developed drilling equipment and hyperspectral identification technology that would facilitate uranium exploration.