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Apple launches $300 mn 'green' fund for China suppliers
by Staff Writers
Shanghai (AFP) July 13, 2018

Apple said on Friday it has established a fund to invest nearly $300 million over the next four years to connect its Chinese suppliers to renewable energy as Beijing pushes an anti-pollution drive.

The US giant said it and 10 initial suppliers would jointly provide the money for the China Clean Energy Fund, aimed at helping the companies make the transition to clean energy.

Apple said the project would produce an initial one gigawatt of clean energy, equivalent to powering nearly a million homes.

Most of Apple's products worldwide are assembled in vast production networks in China that employ hundreds of thousands of workers, and the company has taken various steps to reduce resulting carbon emissions.

It said in April that its headquarters in Cupertino, California, had gone 100 percent renewable and announced initiatives to achieve the same in other Apple facilities worldwide.

China's four-decade transition into an industrial behemoth has brought the side effects of severe air, soil and water pollution, and the government is pushing various initiatives to clean things up including incentives for renewable energy and the electric-car industry.

Among other projects, in late 2016 Apple said it bought a 30 percent stake in subsidiaries of China-based Goldwind, the world's largest wind turbine maker, to produce renewable energy.


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ZTE shares surge 25% as US sanctions lift moves step closer
Hong Kong (AFP) July 12, 2018
Shares in Chinese telecoms equipment maker ZTE surged more than 25 percent in Hong Kong on Thursday after the company moved a step closer to having a painful US purchase ban lifted. The firm had been forced to halt operations and was on the verge of collapse after Washington announced a seven-year ban on US companies selling it crucial parts owing to its handling of a sanctions violation. However, as a favour to Chinese President Xi Jinping, US President Donald Trump ordered the Commerce Departm ... read more

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