Latest news with #AECC
South China Morning Post
7 days ago
- Business
- South China Morning Post
China's next-gen turbine blade promises supercharged jet power, more longevity
A recently granted patent in China's aeronautics industry has signalled a significant leap in the development of a critical component for jet engines – a next-generation self-cooling turbine blade that could mean critical advantages for both the country's military and civilian aircraft. The patent outlined a new method for producing alloy turbine blades capable of withstanding temperatures up to 15 per cent higher than existing versions. The improved heat resistance was expected to deliver greater engine thrust , better fuel efficiency, and longer service life. The Beijing Institute of Aeronautical Materials under Aero Engine Corporation of China (AECC) received the patent for advanced turbine blade manufacturing in late April. AECC has led Chinese research on military engines for fighter jets such as the J-10CE , the same ones used by Pakistan's military – which Beijing recently confirmed shot down Indian jets – as well as civilian plane engines like the CJ1000A and CJ2000. The latest innovation helped to cement its leadership in high-performance propulsion technologies. According to the China National Intellectual Property Administration, the patent, which was first filed in October, was co-developed by AECC and Handan Xinxing Special Steel Tube Company in northern China's Hebei province. 01:32 Chinese plane designed to travel twice as fast as Concorde completes test flight Chinese plane designed to travel twice as fast as Concorde completes test flight High-temperature alloy turbine blades are a critical component in modern jet engines, directly influencing thrust output, fuel efficiency and reliability. Conventional turbine blades tend to degrade from prolonged exposure to extreme heat, restricting overall engine performance. The newly patented method aims to overcome this limitation by improving the thermal tolerance of the blades.
Malaysian Reserve
26-05-2025
- Business
- Malaysian Reserve
ASEAN Power Grid MoA to be signed in October
By FARAH SOLHI THE ASEAN Power Grid (APG) Memorandum of Agreement (MoA) is scheduled to be signed this October, after the successful conclusion on its enhanced MoA's negotiation at the 25th Asean Economic Community Council (AECC) meeting today. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz told reporters that the APG, which would be signed at the 43rd Ministers on Energy Meeting (AMEM), is a strategic initiative in strengthening ASEAN's regional energy security, connectivity, and sustainability. 'In this context, we also welcomed ongoing work towards the establishment of the APG Financing Facility Framework, which will enhance cross-border flows of foreign direct investments (FDIs) and new funding opportunities for regional energy-related projects. 'The AEC Council also expressed full support for the convening of a joint meeting between ASEAN's Energy, Finance, and Economic Ministers in August,' he said. The enhanced APG MoA was among the 11 matters deliberated in the meeting, attended by ASEAN member states and Timor Leste today. Tengku Zafrul further highlighted several other matters raised during the meeting including Malaysia's success in completing two out of 18 Priority Economic Deliverables (PED) this year, which were the full conclusion of the ASEAN-China Free Trade Area (ACFTA) 3.0 Upgrade Negotiations and the ASEAN Trade in Goods Agreement (ATIGA) upgrade. Both upgraded agreements are scheduled to be signed at the sidelines of the upcoming 47th ASEAN Leaders' Summit in October this year, he said. 'We remain confident that these milestones will serve as pivotal enablers for ASEAN's sustained growth and competitiveness. 'The successful conclusion of these negotiations is expected to enhance the region's economic integration and generate significant economic benefits for ASEAN, as we continue to navigate an increasingly volatile global economic landscape. 'In particular, ATIGA — long regarded as the cornerstone of ASEAN's economic integration — will now feature forward-looking and commercially meaningful provisions aimed at further boosting regional trade, enhancing supply chain resilience, and promoting deeper economic integration within ASEAN,' he said. Tengku Zafrul added that the council also welcomed the full completion of Laos' 2024 PEDs which marked the successful adoption of the Roadmap on Digital Trade Standards as this milestone reflects the continued commitment in advancing the ASEAN's digital economy agenda. He also highlighted the progress of AEC Blueprint 2025 progress, as it is in its final year of completion. 'The overall implementation rate stands at a commendable 97%, comprising 75% completed measures and 22% currently in progress, as of April. The Blueprint has played a pivotal role in shaping ASEAN's economic architecture over the past decade. 'It has served as the strategic roadmap for building a highly integrated and cohesive ASEAN economy, promoting inclusive and innovation-led growth, and deepening regional connectivity and competitiveness,' he said. He added that through the Blueprint, ASEAN has made significant strides in areas such as trade liberalisation, investment facilitation, micro, small and medium enterprise (MSME) development, digital transformation, and sustainable economic initiatives. 'This impressive 97% implementation rate not only demonstrates ASEAN's collective commitment to economic integration but also reinforces the region's ability to respond to global uncertainties in a cool, calm and calculated manner,' he added. The key learnings and progress under the AEC Blueprint 2025, he further said, will serve as a solid foundation for the development of the AEC Strategic Plan 2026–2030, which will chart the region's next phase of economic growth and transformation. Tengku Zafrul added that the bloc is prepared to launch the successor to the Blueprint, which is the AEC Strategic Plan 2026–2030, which will be launched as part of the Compendium with the overarching ASEAN Community Vision 2045 at the 46th ASEAN Summit on May 26. 'The AEC Council reaffirmed support and commitment to the effective implementation of the AEC Strategic Plan, which will guide ASEAN's post-2025 economic integration agenda. 'We also look forward to the Regional Socialisation of the AEC Strategic Plan, which will be held on June 12. This session will serve as a key multi-stakeholder platform to socialise and share the economic benefits of the AEC Strategic Plan,' he said.
Barnama
26-05-2025
- Business
- Barnama
ASEAN Economy To Expand at 4.7 Pct In 2025
BUSINESS KUALA LUMPUR, May 25 -- Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (left) holds a press conference on the ASEAN Economic Community Council (AECC) during the 46th ASEAN Summit at the Kuala Lumpur Convention Centre (KLCC) today. Also present was Deputy Minister of Investment, Trade and Industry, Liew Chin Tong (right). -- fotoBERNAMA (2025) COPYRGHT RESERVED By Anas Abu Hassan KUALA LUMPUR, May 25 (Bernama) -- The collective ASEAN gross domestic product (GDP) is projected to grow at 4.7 per cent in 2025 as compared to 4.2 per cent last year, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the 25th ASEAN Economic Community (AEC) Council meeting today also forecast the inflation rate for the region at three per cent. "There was a discussion and a presentation by the ASEAN Secretariat when we talked about the year 2024 and what our forecast is for the year 2025 in terms of GDP growth. There was also a discussion on what we expect the inflation rate to be. "So today, the expectation is 4.7 per cent for 2025 for the ASEAN GDP growth and inflation around three per cent," he said in a press conference after the conclusion of the 25th AEC Council meeting on the sidelines of the 46th ASEAN Summit here today. According to Tengku Zafrul, the projection is higher than average compared to the global growth rate and it is really driven by the strong export and public capital spending in larger economies. "But the 4.7 per cent growth is subject to … there is a downside risk to that projection because of the external environment and such that we need to look at," he added. Commenting on negotiations on the tariff issue, Tengku Zafrul noted that ASEAN member states have agreed on ASEAN neutrality and will continue to support the principle of multilateralism and the need for engagement between each country and the United States (US). "Every country will have its position vis-à-vis the US, and we welcome the engagement that has been done bilaterally by ASEAN member states," he added.
Malaysia Sun
26-05-2025
- Business
- Malaysia Sun
ASEAN economic ministers discuss greater regional integration
KUALA LUMPUR, May 25 (Xinhua) -- Greater regional and deeper cooperation were discussed by officials participating in the 25th ASEAN Economic Community Council (AECC) meeting, Malaysia's Minister of Investment, Trade and Industry said here on Sunday. In his remarks as chair of the meeting, Tengku Zafrul Abdul Aziz said the current economic environment calls for collaboration and commitment to advancing common interests among the members of the Association of Southeast Asian Nations (ASEAN). "At the same time, we also internally need to look into ways to increase intra-ASEAN trade so as to reduce our dependencies towards external partners," he said. He added that ASEAN's response in addressing the recent shifts in economic posture by the United States has so far been measured, seeking dialogue rather than escalation, while keeping the grouping's interests at the forefront. "The current economic environment that we're in calls not for retreat, but for renewed resolve," he said. Zafrul also highlighted the progress made under the ASEAN Economic Community Blueprint 2025, which serves as the strategic roadmap for building a highly integrated and cohesive ASEAN economy. "Through the Blueprint, ASEAN has made significant strides in areas such as trade liberalization, investment facilitation, MSME (micro, small and medium enterprise) development, digital transformation, and sustainable economic initiatives," he said. The 25th AECC meeting is being held in conjunction with the 46th ASEAN Summit, under Malaysia's 2025 chairmanship, themed "Inclusivity and Sustainability."
The Star
26-05-2025
- Business
- The Star
Trade upgrade coming for Asean
Warm welcome: Tengku Zafrul standing alongside fellow AECC ministers before chairing the 25th AECC meeting. — Bernama Expansion of China and regional deals to be signed in October KUALA LUMPUR: Asean has concluded the upgrade of two existing trade agreements, expected to be signed at the 47th Asean Summit in October, says Tengku Datuk Seri Zafrul Abdul Aziz. The Investment, Trade and Industry Minister said such was the result of upgraded negotiations on the Asean-China Free Trade Area (ACFTA) 3.0 and the Asean Trade in Goods Agreement (Atiga). 'I am pleased to report that two of our priority economic deliverables for 2025 have been concluded. Both agreements are scheduled to be signed in October. 'We remain confident that these milestones will serve as pivotal enablers for Asean's sustained growth and competitiveness,' he said after chairing the 25th Asean Economic Community Council (AECC) meeting yesterday. Tengku Zafrul said the successful conclusion of these negotiations are expected to enhance the region's economic integration and generate significant economic benefits for Asean as it navigates an increasingly volatile global economic landscape. He said Atiga, long regarded as the cornerstone of Asean's economic integration, will feature forward-looking and commercially meaningful provisions aimed at further boosting regional trade, enhancing supply chain resilience and promoting deeper economic integration. Tengku Zafrul also said the AECC meeting concluded negotiations on the enhanced memorandum of agreement on the Asean Power Grid (APG) initiative and it is scheduled to be signed at the 43rd Asean Ministers on Energy meeting in October. He also welcomed the establishment of APG financing facility network, which will enhance cross-border flows of foreign direct investments and new funding opportunities for regional energy-related projects. On the Asean Economic Community Blueprint 2025, Tengku Zafrul said the blueprint has an overall implementation rate of 97%. 'This year marks another pivotal milestone for Asean, as we prepare to launch the successor to the AEC Blueprint, which is the Asean Economic Community (AEC) Strategic Plan 2026-2030,' he added. The AEC Strategic Plan 2026-2030 will be launched today.
