China's existing 11 nuclear power- generating sets have a combined installed capacity of 9.1 million kw, or about 1.92 percent of the country's total generating capacity.

Cash Is King

Datang Telecom Technology & Industry Holdings Co. will invest $172 million in the Shanghai-based Semiconductor Manufacturing International Corp. (SMIC) for a 16.6-percent stake in the No. 1 made-to-order chipmaker on the Chinese mainland.

The investment will help the money-losing SMIC to continue expanding, especially in 3G technologies, despite the current financial crisis, said Li Ke, an analyst at Beijing CCID Consulting Co. Ltd., in an interview with China Daily. More importantly, state-owned Datang will bring SMIC the market for 3G chips and government support, he said.

The relevant government authorities must approve the deal before it can go through.

Chalco Cuts Alumina Output

The Aluminum Corp. of China Ltd. (Chalco), the nation's biggest metal producer, has cut its alumina output by 38 percent because of falling prices and waning demands, the company recently announced.

The Hong Kong and Shanghai-listed Chalco had already shut 4.11 million metric tons of annual production capacity as of November 5.

The latest reduction comes as a result of the impact of aluminum production cuts and the low price of alumina, Chalco said. Two tons of alumina are needed to make 1 ton of aluminum.

Chalco, Alcoa Inc. of the United States and Rio Tinto Group of Australia are also shutting smelters after the metal prices plunged by about a third in three months. The global credit crunch and economic slowdown have curbed demand from manufacturers, carmakers and builders.

Tighter Grid

The State Grid Corp. of China (SGCC) on November 12 announced it would add an extra 2.73 billion yuan ($399.7 million) to its scheduled budget this year to buy electricity grid equipment. It did not disclose the specific amount of its total annual budget.

The Beijing-based company said 1.4 billion yuan ($205 million) would be earmarked for upgrading city electricity grid in central and west China and another 1.33 billion yuan ($194.7 million) would go to upgrading the rural electricity grids in these regions.

The spending is part of the massive stimulus package recently unveiled by the State Council to spur economic growth.