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China Economy Forum
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cirr
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Construction schedules for HSR and conventional lines in Guangxi Hui Autonomous Region bordering Vietnam:
August: Nanning-Beihai HSR opens
November: Nanning-Hengyang HSR opens (est.)
November: Nanning-Wuzhou HSR opens (est.)
August: Coast line extensions Tang-Xinzhou、Dalangping-Bonded port open
November：Yulin-Tieshan port opens
Also speed up the constructions of Guiyang-Guangzhou HSR、Kunming-Nanning HSR、Cenxi-Luoding rail etc
August: Nanning-Beihai HSR opens
November: Nanning-Hengyang HSR opens (est.)
November: Nanning-Wuzhou HSR opens (est.)
August: Coast line extensions Tang-Xinzhou、Dalangping-Bonded port open
November：Yulin-Tieshan port opens
Also speed up the constructions of Guiyang-Guangzhou HSR、Kunming-Nanning HSR、Cenxi-Luoding rail etc
soaringeagle
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The CHR network almost complete, let us drink to that.
cirr
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cirr
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Expressways opened this year by 4/11/2013
1.31 Boluo-Shenzhen expressway S27 博深高速, Guangdong Province
63.2km, project started in June 2009, the expressway crosses the cities of Huizhou, Dongguan and Shenzhen
2.6 Hulei-Chengguan expressway 永定湖城高速公路, Fujian Province
16.52km, a connection line
2.6 Baoshan-Tengchong expressway 保腾高速, Yunnan Province
63.8km, 6.372 billion yuan (Longjiang Bridge 1.46 billion), it largely shortens the travel time between Kunming to South Asia (Myanmar, India)
3.31 Bazhong-Nanchong expressway S2 巴南高速, Sichuan Province
116km, a busy route connecting two major cities of Suchuan.
Bazhong-Nanchong expressway S2
4.2 Guilin-Xing'an expressway 桂林至兴安高速, Guangxi Province
53km
4.3 Yulin-Beihai expressway 玉铁高速, Guangxi Province
174.46km, a connection line, it makes Guangxi Province expressway length over 3000km
4.3 Yunhe-Jingning expressway 云景高速, Zhejiang Province
13km, 1.4128 billion yuan (a 6.7km Xizhouling tunnel), the main purpose of this expressway is to boost the poor area's economy and tourism
4.9 Liujing-Qinzhou Harbor 六景至钦州港高速, Guangxi Province
139.1km, 6.54 billion yuan, it connects the industrial park and harbor.
1.31 Boluo-Shenzhen expressway S27 博深高速, Guangdong Province
63.2km, project started in June 2009, the expressway crosses the cities of Huizhou, Dongguan and Shenzhen
2.6 Hulei-Chengguan expressway 永定湖城高速公路, Fujian Province
16.52km, a connection line
2.6 Baoshan-Tengchong expressway 保腾高速, Yunnan Province
63.8km, 6.372 billion yuan (Longjiang Bridge 1.46 billion), it largely shortens the travel time between Kunming to South Asia (Myanmar, India)
3.31 Bazhong-Nanchong expressway S2 巴南高速, Sichuan Province
116km, a busy route connecting two major cities of Suchuan.
Bazhong-Nanchong expressway S2
4.2 Guilin-Xing'an expressway 桂林至兴安高速, Guangxi Province
53km
4.3 Yulin-Beihai expressway 玉铁高速, Guangxi Province
174.46km, a connection line, it makes Guangxi Province expressway length over 3000km
4.3 Yunhe-Jingning expressway 云景高速, Zhejiang Province
13km, 1.4128 billion yuan (a 6.7km Xizhouling tunnel), the main purpose of this expressway is to boost the poor area's economy and tourism
4.9 Liujing-Qinzhou Harbor 六景至钦州港高速, Guangxi Province
139.1km, 6.54 billion yuan, it connects the industrial park and harbor.
shuttler
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"小海豹”现代有轨电车首次亮相上海
来源：新华网 2013年06月06日08:05
"Baby Seal "modern trams debut Shanghai
Source: Xinhua at 08:05 on June 6th, 2013
http://sh.people.com.cn/n/2013/0606/c134768-18811032.html
6月4日，在上海举行的第八届中国国际轨道交通展览会上，“小海豹”现代有轨电车首次亮相上海。这款有轨电车由于外观近似海豹，因此昵称“小海豹”，其车底盘距离地面低于35厘米，乘客抬脚就可乘车。
据了解，一条地铁线路的造价可建至少6条等距现代有轨电车线路。在节能环保方面，同样的运输距离，现代有轨电车能耗约为地铁的一半。新华社发（刘晓晶 摄）
June 4, the eighth held in Shanghai China International Rail Transit Exhibition, "Little Seal" modern tram debut Shanghai. Since the appearance of this tram approximate seals, so nicknamed the "Baby Seals" and its chassis is less than 35 cm from the ground, passengers can ride heels.
It is understood that the cost of a subway line can be built at least six equidistant modern streetcar lines. In terms of energy saving, the same transport distance, the modern streetcar subway is about half the energy consumption. Xinhua News Agency issued (LIU Xiao-jing photo)
google translation
来源：新华网 2013年06月06日08:05
"Baby Seal "modern trams debut Shanghai
Source: Xinhua at 08:05 on June 6th, 2013
http://sh.people.com.cn/n/2013/0606/c134768-18811032.html
6月4日，在上海举行的第八届中国国际轨道交通展览会上，“小海豹”现代有轨电车首次亮相上海。这款有轨电车由于外观近似海豹，因此昵称“小海豹”，其车底盘距离地面低于35厘米，乘客抬脚就可乘车。
据了解，一条地铁线路的造价可建至少6条等距现代有轨电车线路。在节能环保方面，同样的运输距离，现代有轨电车能耗约为地铁的一半。新华社发（刘晓晶 摄）
June 4, the eighth held in Shanghai China International Rail Transit Exhibition, "Little Seal" modern tram debut Shanghai. Since the appearance of this tram approximate seals, so nicknamed the "Baby Seals" and its chassis is less than 35 cm from the ground, passengers can ride heels.
It is understood that the cost of a subway line can be built at least six equidistant modern streetcar lines. In terms of energy saving, the same transport distance, the modern streetcar subway is about half the energy consumption. Xinhua News Agency issued (LIU Xiao-jing photo)
google translation
Alibaba May Be Valued at $200 Billion by 2014, Huttenlocher Says
By Bei Hu
June 06, 2013
Alibaba Group Holding Ltd., China’s largest e-commerce company, may have a market value of as much as $200 billion by the end of 2014 after an initial public offering, said Carl Huttenlocher, chief investment officer of hedge-fund company Myriad Asset Management Ltd.
SoftBank Corp. (9984), a Tokyo-based wireless carrier with a 35 percent stake in Alibaba, may see its market value boosted by as much as 75 percent as a result, according to Huttenlocher, whose Hong Kong-based company now manages $2.3 billion of assets.
Alibaba may have an IPO this or next year that values the Hangzhou, eastern China-based company at as much as $100 billion, rivaling the $104 billion Facebook Inc. got at its May 2012 IPO (FB) price, analysts including Eric Qiu at Guosen Securities Co. have said. Facebook has a market value of $55.5 billion, according to data compiled by Bloomberg.
Alibaba, which made founder Jack Ma a billionaire, will benefit from China’s expanding retail market, increasing use of Internet and smartphones, and a fragmented retail market, Huttenlocher said. Ma said last year that the company may go public within five years.
“It’s much easier to gain share in a fast-growing pie,” he said at the first Karen Leung Memorial Investor Conference in Hong Kong yesterday. “The e-commerce market in China is an enormous and very fast growing market that we feel is also getting share from the offline retail market. Alibaba is the dominant company in the sector and has pricing power.”
Internet Buying
Retail sales in China are growing 14 percent a year, against 3 percent in the U.S., Huttenlocher, a former Asia head of New York-based Highbridge Capital Management LLC, said.
About 42 percent of Chinese use the Internet now, compared with more than 80 percent in the U.S., he said. The top 20 traditional offline retailers in China command less than 10 percent of the market share, lower than the 40 percent to 50 percent in the U.S., he said.
The projection of a market value of $150 billion to $200 billion by end-2014 assumes 14 percent of Chinese retail sales will be conducted online by 2015, Huttenlocher said. Alibaba, especially its Tmall.com unit, may have a shrinking share of a bigger market yet it also takes into account its pricing power as the dominant e-commerce company, he said.
*ttp://www.businessweek.com/news/2013-06-06/alibaba-may-be-valued-at-200-billion-by-2014-huttenlocher-says
By Bei Hu
June 06, 2013
Alibaba Group Holding Ltd., China’s largest e-commerce company, may have a market value of as much as $200 billion by the end of 2014 after an initial public offering, said Carl Huttenlocher, chief investment officer of hedge-fund company Myriad Asset Management Ltd.
SoftBank Corp. (9984), a Tokyo-based wireless carrier with a 35 percent stake in Alibaba, may see its market value boosted by as much as 75 percent as a result, according to Huttenlocher, whose Hong Kong-based company now manages $2.3 billion of assets.
Alibaba may have an IPO this or next year that values the Hangzhou, eastern China-based company at as much as $100 billion, rivaling the $104 billion Facebook Inc. got at its May 2012 IPO (FB) price, analysts including Eric Qiu at Guosen Securities Co. have said. Facebook has a market value of $55.5 billion, according to data compiled by Bloomberg.
Alibaba, which made founder Jack Ma a billionaire, will benefit from China’s expanding retail market, increasing use of Internet and smartphones, and a fragmented retail market, Huttenlocher said. Ma said last year that the company may go public within five years.
“It’s much easier to gain share in a fast-growing pie,” he said at the first Karen Leung Memorial Investor Conference in Hong Kong yesterday. “The e-commerce market in China is an enormous and very fast growing market that we feel is also getting share from the offline retail market. Alibaba is the dominant company in the sector and has pricing power.”
Internet Buying
Retail sales in China are growing 14 percent a year, against 3 percent in the U.S., Huttenlocher, a former Asia head of New York-based Highbridge Capital Management LLC, said.
About 42 percent of Chinese use the Internet now, compared with more than 80 percent in the U.S., he said. The top 20 traditional offline retailers in China command less than 10 percent of the market share, lower than the 40 percent to 50 percent in the U.S., he said.
The projection of a market value of $150 billion to $200 billion by end-2014 assumes 14 percent of Chinese retail sales will be conducted online by 2015, Huttenlocher said. Alibaba, especially its Tmall.com unit, may have a shrinking share of a bigger market yet it also takes into account its pricing power as the dominant e-commerce company, he said.
*ttp://www.businessweek.com/news/2013-06-06/alibaba-may-be-valued-at-200-billion-by-2014-huttenlocher-says
Krueger
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By Bloomberg News
June 06, 2013
Chinas crackdown on fake export invoices used to disguise money flows is probably cutting the nations trade figures, revealing subdued global demand that will weigh on economic growth.
Outbound shipments may have grown 7.1 percent in May from a year earlier, less than half the previous months reported 14.7 percent, based on the median estimate of 34 economists ahead of data due June 8. Import growth probably slowed to 6.9 percent from Aprils 16.8 percent, a Bloomberg News survey showed.
Successful deterrence of fraudulent data through regulatory scrutiny of companies and banks would help restore trust in trade figures, while more accurate numbers may also highlight the urgency for Premier Li Keqiang to shift growth toward domestic consumption. Weakness in exports could also test Lis reluctance to add stimulus to support the expansion of the worlds second-biggest economy.
The crackdown from Chinas foreign-exchange authorities on fake invoicing will bring the inflated export growth down to the real trend, which is single digits, said Zhang Zhiwei, chief China economist at Nomura Holdings Inc. in Hong Kong, who projects export gains of 5 percent for May. More broadly, Chinas economy is weakening but is not collapsing, said Zhang, who previously worked at the International Monetary Fund.
Then MSCI Asia Pacific Index of stocks was down 1.2 percent as of 4:19 p.m. in Tokyo today.
Inflation Figures
The trade data from the General Administration of Customs will be followed June 9 by National Bureau of Statistics releases on prices, industrial production, retail sales and investment that are forecast to show little change from April growth figures. New yuan loans may have increased to 850 billion yuan ($139 billion) from Aprils 792.9 billion yuan in Peoples Bank of China numbers due over the next week, based on the median estimate in a Bloomberg News survey.
The benchmark Shanghai Composite Index of stocks has declined for six days, the longest losing streak since June 2012, amid concern that economic growth is losing steam. The gauge lost 1.3 percent today, the most in six weeks.
Economists in a separate survey last month said January-April export growth was overstated by 4 to 13 percentage points. Shipments abroad probably rose 8.5 percent in the first four months of 2013 from a year earlier, based on the median estimate of 15 economists, less than half the official 17.4 percent number. Imports may have gained 8.25 percent, according to 14 analysts median estimate, compared with the governments 10.6 percent figure.
PMI Gauge
The figures compare with South Koreas reported 1 percent increase in exports in the first five months of 2013 and a 1.3 percent January-April gain reported by Taiwan. Chinas official Purchasing Managers Index (SHCOMP) for manufacturing has shown new export orders contracting for four of the past five months.
Slower growth in last months official trade data may reflect measures announced by Chinas State Administration of Foreign Exchange (SAOFEZ) to crack down on speculative funds entering the country disguised as payments for trade.
The currency regulator said May 6 that it will send out warning notices to companies whose goods and capital flows dont match as well as those bringing large amounts of cash into China. SAFE on May 22 told banks to improve checks of customer documents related to special trade zones amid speculation that the areas have been exploited to mask money inflows as exports.
Double-counting in the zones probably continued to inflate Mays figures, said Steve Wang, chief China economist in Hong Kong for Reorient Financial Markets Ltd., an investment bank backed by the Chinese government. While exports probably rose 9.3 percent in May, the true rate may be close to 4.6 percent excluding distortions from double-counting in the zones, Wang said.
Fraud Probe
The customs administration didnt respond to faxed questions yesterday from Bloomberg News or to other inquiries on the issue since it held a press briefing on April 10. Zheng Yuesheng, an agency spokesman, said at the time that China is investigating possible fraud behind first-quarter export growth and that the practice of false trade declarations does exist but is definitely not mainstream.
Some Chinese exports face other issues. The European Union this week said tariffs of as much as 67.9 percent could be imposed on solar panels from China in the largest EU commercial dispute of its kind, affecting Chinese companies like Yingli Green Energy Holding Co., Wuxi Suntech Power Co. and Changzhou Trina Solar Energy Co.
Reserve Ratio
The slowdown may be too much for the government to stomach, said Hu Yifan, chief economist at Haitong International Securities Co. in Hong Kong, who previously worked at the World Bank. Authorities may start active supportive policies, including a cut this month in banks reserve-requirement ratio, said Hu, the only analyst surveyed to project a May decline in exports.
Chinas gross domestic product expanded a less-than-estimated 7.7 percent in the first quarter and analysts last month trimmed forecasts for the April-June period to a median projection of 7.8 percent. The government in March set a goal of 7.5 percent for the year.
The pressure on the Chinese leadership may grow to do more to boost domestic demand, such as faster approvals of investment projects, said Sun Junwei, a Beijing-based economist at HSBC Holdings Plc. The government doesnt want another stimulus package, but it wont like a deepening slowdown either.
Around the world today, U.K. house prices rose for a fourth month in May as government measures to help the property market boosted demand, according to Halifax, the mortgage unit of Lloyds Banking Group Plc. Other releases today include U.S. jobless claims and factory orders in Germany.
The Bank of England will probably decide to hold its target for bond purchases at 375 billion pounds ($577 billion), according to a Bloomberg News survey of economists. The European Central Bank will keep its benchmark interest rate unchanged at 0.5 percent today, according to a survey of analysts.
June 06, 2013
Chinas crackdown on fake export invoices used to disguise money flows is probably cutting the nations trade figures, revealing subdued global demand that will weigh on economic growth.
Outbound shipments may have grown 7.1 percent in May from a year earlier, less than half the previous months reported 14.7 percent, based on the median estimate of 34 economists ahead of data due June 8. Import growth probably slowed to 6.9 percent from Aprils 16.8 percent, a Bloomberg News survey showed.
Successful deterrence of fraudulent data through regulatory scrutiny of companies and banks would help restore trust in trade figures, while more accurate numbers may also highlight the urgency for Premier Li Keqiang to shift growth toward domestic consumption. Weakness in exports could also test Lis reluctance to add stimulus to support the expansion of the worlds second-biggest economy.
The crackdown from Chinas foreign-exchange authorities on fake invoicing will bring the inflated export growth down to the real trend, which is single digits, said Zhang Zhiwei, chief China economist at Nomura Holdings Inc. in Hong Kong, who projects export gains of 5 percent for May. More broadly, Chinas economy is weakening but is not collapsing, said Zhang, who previously worked at the International Monetary Fund.
Then MSCI Asia Pacific Index of stocks was down 1.2 percent as of 4:19 p.m. in Tokyo today.
Inflation Figures
The trade data from the General Administration of Customs will be followed June 9 by National Bureau of Statistics releases on prices, industrial production, retail sales and investment that are forecast to show little change from April growth figures. New yuan loans may have increased to 850 billion yuan ($139 billion) from Aprils 792.9 billion yuan in Peoples Bank of China numbers due over the next week, based on the median estimate in a Bloomberg News survey.
The benchmark Shanghai Composite Index of stocks has declined for six days, the longest losing streak since June 2012, amid concern that economic growth is losing steam. The gauge lost 1.3 percent today, the most in six weeks.
Economists in a separate survey last month said January-April export growth was overstated by 4 to 13 percentage points. Shipments abroad probably rose 8.5 percent in the first four months of 2013 from a year earlier, based on the median estimate of 15 economists, less than half the official 17.4 percent number. Imports may have gained 8.25 percent, according to 14 analysts median estimate, compared with the governments 10.6 percent figure.
PMI Gauge
The figures compare with South Koreas reported 1 percent increase in exports in the first five months of 2013 and a 1.3 percent January-April gain reported by Taiwan. Chinas official Purchasing Managers Index (SHCOMP) for manufacturing has shown new export orders contracting for four of the past five months.
Slower growth in last months official trade data may reflect measures announced by Chinas State Administration of Foreign Exchange (SAOFEZ) to crack down on speculative funds entering the country disguised as payments for trade.
The currency regulator said May 6 that it will send out warning notices to companies whose goods and capital flows dont match as well as those bringing large amounts of cash into China. SAFE on May 22 told banks to improve checks of customer documents related to special trade zones amid speculation that the areas have been exploited to mask money inflows as exports.
Double-counting in the zones probably continued to inflate Mays figures, said Steve Wang, chief China economist in Hong Kong for Reorient Financial Markets Ltd., an investment bank backed by the Chinese government. While exports probably rose 9.3 percent in May, the true rate may be close to 4.6 percent excluding distortions from double-counting in the zones, Wang said.
Fraud Probe
The customs administration didnt respond to faxed questions yesterday from Bloomberg News or to other inquiries on the issue since it held a press briefing on April 10. Zheng Yuesheng, an agency spokesman, said at the time that China is investigating possible fraud behind first-quarter export growth and that the practice of false trade declarations does exist but is definitely not mainstream.
Some Chinese exports face other issues. The European Union this week said tariffs of as much as 67.9 percent could be imposed on solar panels from China in the largest EU commercial dispute of its kind, affecting Chinese companies like Yingli Green Energy Holding Co., Wuxi Suntech Power Co. and Changzhou Trina Solar Energy Co.
Reserve Ratio
The slowdown may be too much for the government to stomach, said Hu Yifan, chief economist at Haitong International Securities Co. in Hong Kong, who previously worked at the World Bank. Authorities may start active supportive policies, including a cut this month in banks reserve-requirement ratio, said Hu, the only analyst surveyed to project a May decline in exports.
Chinas gross domestic product expanded a less-than-estimated 7.7 percent in the first quarter and analysts last month trimmed forecasts for the April-June period to a median projection of 7.8 percent. The government in March set a goal of 7.5 percent for the year.
The pressure on the Chinese leadership may grow to do more to boost domestic demand, such as faster approvals of investment projects, said Sun Junwei, a Beijing-based economist at HSBC Holdings Plc. The government doesnt want another stimulus package, but it wont like a deepening slowdown either.
Around the world today, U.K. house prices rose for a fourth month in May as government measures to help the property market boosted demand, according to Halifax, the mortgage unit of Lloyds Banking Group Plc. Other releases today include U.S. jobless claims and factory orders in Germany.
The Bank of England will probably decide to hold its target for bond purchases at 375 billion pounds ($577 billion), according to a Bloomberg News survey of economists. The European Central Bank will keep its benchmark interest rate unchanged at 0.5 percent today, according to a survey of analysts.
Splurgenxs
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nothing new,they been doing this fr years.
shuttler
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another rendition of unintellectual 3rd hand guessing and cheerleading
dont put China in indian shoes
shuttler
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一汽-大众南海工厂一期工程接近完工 7月投产
中国网 中国网 2013-06-07 09:18
坐落在佛山市南海区的一汽-大众南海工厂一期工程已接近完工，预计在今年7月建成投产，生产大众第七代高尔夫、奥迪A3等产品。该工厂涵盖冲压、焊装、涂装、总装、质保、IT及工厂物流等业务，所有车间均可实现大众、奥迪两个品牌的混线生产。图为工人在一汽-大众佛山工厂车间忙碌。辛华/摄
标签：南海 工厂 焊装 质保 车间
FAW - Volkswagen Nanhai factory a project nearing completion in July
China Network auto-China.com 2013-06-07 09:18
Located in Nanhai District of Foshan City, FAW - Volkswagen Nanhai factory a project nearing completion, is expected to put into operation in July this year, production of the seventh generation Volkswagen Golf, Audi A3 and other products. The plant covers stamping, welding, painting, assembly, quality assurance, IT and factory logistics and other services, all the workshops can be achieved Volkswagen, Audi two brands of mixing production.
The photo shows workers in the FAW - Volkswagen Foshan factory floor busy. (Xin Hua / photo)
google translation
中国网 中国网 2013-06-07 09:18
坐落在佛山市南海区的一汽-大众南海工厂一期工程已接近完工，预计在今年7月建成投产，生产大众第七代高尔夫、奥迪A3等产品。该工厂涵盖冲压、焊装、涂装、总装、质保、IT及工厂物流等业务，所有车间均可实现大众、奥迪两个品牌的混线生产。图为工人在一汽-大众佛山工厂车间忙碌。辛华/摄
标签：南海 工厂 焊装 质保 车间
FAW - Volkswagen Nanhai factory a project nearing completion in July
China Network auto-China.com 2013-06-07 09:18
Located in Nanhai District of Foshan City, FAW - Volkswagen Nanhai factory a project nearing completion, is expected to put into operation in July this year, production of the seventh generation Volkswagen Golf, Audi A3 and other products. The plant covers stamping, welding, painting, assembly, quality assurance, IT and factory logistics and other services, all the workshops can be achieved Volkswagen, Audi two brands of mixing production.
The photo shows workers in the FAW - Volkswagen Foshan factory floor busy. (Xin Hua / photo)
google translation
shuttler
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Lenovo opens manufacturing facility in Whitsett, North Carolina
On June 5, 2013, 6:30 PM
link
Lenovo, the world's second largest PC company, hosted today a grand opening ceremony for the official opening of its 240,000-square-foot North Carolina production facility. The new production site serves as an example of a renewing interest in bringing high-tech manufacturing jobs back to the United States, a segment of enterprise which seemingly has all but entirely fled to Asia.
The new plant will not only play a role in producing many of Lenovo's Think-branded devices, but will also be utilized for as the company's logistics, national returns and customer solutions center. The company says the relatively small $2 million facility will add 115 manufacturing jobs to North Carolina's Greensboro area; however, Lenovo's presence in NC will generate about one billion dollars in annual state revenue. Lenovo itself is a $34 billion company and already has a research and development arm in Raleigh, N.C.
"I am proud that Lenovo is continuing to invest in North Carolina, bringing needed jobs to the Greensboro area and providing a foundation for future economic growth in our state," stated N.C. governor Pat McCrory. "Lenovo has been producing innovative and exciting products around the world and now they are in North Carolina’s backyard and we’re fortunate to have them."
To celebrate its opening, Lenovo donated and presented 36 ThinkCenter PC systems to a YMCA in Greensboro for use in youth development and education. The computers were produced by the new North Carolina factory in Whitsett.
For now, most high-tech manufacturing takes place overseas; however, a handful of companies like Samsung, Texas Instruments and Corning have been fabbing processors and producing Gorilla Glass in the States. Apple also announced plans to manufacture some of its products in the U.S. Meanwhile, "Assembled in USA" iMacs and Minis have been cropping up, possibly hinting at such an eventual return.
On June 5, 2013, 6:30 PM
link
Lenovo, the world's second largest PC company, hosted today a grand opening ceremony for the official opening of its 240,000-square-foot North Carolina production facility. The new production site serves as an example of a renewing interest in bringing high-tech manufacturing jobs back to the United States, a segment of enterprise which seemingly has all but entirely fled to Asia.
The new plant will not only play a role in producing many of Lenovo's Think-branded devices, but will also be utilized for as the company's logistics, national returns and customer solutions center. The company says the relatively small $2 million facility will add 115 manufacturing jobs to North Carolina's Greensboro area; however, Lenovo's presence in NC will generate about one billion dollars in annual state revenue. Lenovo itself is a $34 billion company and already has a research and development arm in Raleigh, N.C.
"I am proud that Lenovo is continuing to invest in North Carolina, bringing needed jobs to the Greensboro area and providing a foundation for future economic growth in our state," stated N.C. governor Pat McCrory. "Lenovo has been producing innovative and exciting products around the world and now they are in North Carolina’s backyard and we’re fortunate to have them."
To celebrate its opening, Lenovo donated and presented 36 ThinkCenter PC systems to a YMCA in Greensboro for use in youth development and education. The computers were produced by the new North Carolina factory in Whitsett.
For now, most high-tech manufacturing takes place overseas; however, a handful of companies like Samsung, Texas Instruments and Corning have been fabbing processors and producing Gorilla Glass in the States. Apple also announced plans to manufacture some of its products in the U.S. Meanwhile, "Assembled in USA" iMacs and Minis have been cropping up, possibly hinting at such an eventual return.
shuttler
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[Lenovo Plans Push in Servers and Storage, CEO Says
Updated June 6, 2013, 10:19 a.m. ET
CHENGDU, ChinaLenovo Group Ltd. is setting its sights on new business areas such as servers and the market for smartphones in the developed world, its chief executive said, even as it sticks by a vision of promise in the troubled personal-computer industry.
In an interview on Thursday, Lenovo Chief Executive Yang Yuanqing said the company is looking for deals in servers and computer storage. "Servers and storage is the business we want to expand and develop," he said on the sidelines of the Fortune Global Forum, in the southwestern Chinese city of Chengdu. "If there is an acquisition opportunity, we will take it."
Reuters
Yang Yuanqing at an earnings news conference in Hong Kong last month; the Lenovo CEO said the company still sees potential in PCs.
He declined to comment on talks to buy parts of International Business Machines Corp.'s server business. The Wall Street Journal reported last month that discussions between the two companies had stumbled over the issue of price.
Mr. Yang also said Lenovo will expand its push into the smartphone market with an aim to go beyond China into other emerging markets, and then into developed markets. "We will be in developed markets in a year," he said.
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Lenovo faces tough competition in that area from the likes of Samsung Electronics Co. and Huawei Technologies Co. According to research firm IDC, Lenovo shipped 7.9 million smartphones in the first quarter of 2013, more than three times the 2.5 million it shipped a year earlierbut representing just 3.7% of the global market.
The push comes as Lenovo so far enjoys good fortune from the troubled PC industry. Faced with intensifying competition from tablet computers and other portable computer devices, world-wide shipments of laptops and desktops fell 14% in the first quarter from a year earlier, according to IDC.
Lenovo has boosted sales in the meantime and its profit for the quarter ended March 31 rose 90% from a year earlier. Still, its executives have acknowledged the broader consumer shift to gadgets.
Mr. Yang said he sees continued opportunities in the personal-computer market, as PCs evolve to develop more functions. "The PC will not die," said Mr. Yang, but "the future PC is not the past PC."
He said that sales of hybrid products such as Lenovo's Yogawhich combines features of a laptop and tabletwere going well, without providing further details.
Lenovo's world-wide PC shipments totaled 11.7 million in the first quarter of 2013, up fractionally from a year earlier, according to IDC.
The smartphone business could already be profitable in China, but the focus now is investing in research and development and branding, Mr. Yang said. "The gross margin for smartphones is better than PCs," he said, adding, "when you have scale, you will make money."
Analysts say that in smartphones, Lenovolike other Chinese companies such as Huaweifaces a challenge in building the kind of brand recognition in U.S. and European markets that rivals like Apple Inc. and Samsung have.
"Both Samsung and Apple enjoy the fact that customers have emotional connections with their brands, and it's something that does not take place overnight," said IDC smartphone analyst Ramon Llamas.
Mr. Yang also commented on the slowdown in China's growth and the challenge of economic rebalancing. "I believe the export and investment growth engine has reached the limit," he said. "The potential is domestic consumption, shifting from manufacturing to innovation. These will be the main drivers for the next decade."
Updated June 6, 2013, 10:19 a.m. ET
CHENGDU, ChinaLenovo Group Ltd. is setting its sights on new business areas such as servers and the market for smartphones in the developed world, its chief executive said, even as it sticks by a vision of promise in the troubled personal-computer industry.
In an interview on Thursday, Lenovo Chief Executive Yang Yuanqing said the company is looking for deals in servers and computer storage. "Servers and storage is the business we want to expand and develop," he said on the sidelines of the Fortune Global Forum, in the southwestern Chinese city of Chengdu. "If there is an acquisition opportunity, we will take it."
Reuters
Yang Yuanqing at an earnings news conference in Hong Kong last month; the Lenovo CEO said the company still sees potential in PCs.
He declined to comment on talks to buy parts of International Business Machines Corp.'s server business. The Wall Street Journal reported last month that discussions between the two companies had stumbled over the issue of price.
Mr. Yang also said Lenovo will expand its push into the smartphone market with an aim to go beyond China into other emerging markets, and then into developed markets. "We will be in developed markets in a year," he said.
Lenovo IdeaPad A1000 and link to Spec
Lenovo Introduces its First Value Line of Dual Processor Servers. ThinkServer Trio Designed to Fit Growing Businesses
Lenovo's dual-SIM S820 unveiled, joins the Chinese league of feminine phones
Lenovo faces tough competition in that area from the likes of Samsung Electronics Co. and Huawei Technologies Co. According to research firm IDC, Lenovo shipped 7.9 million smartphones in the first quarter of 2013, more than three times the 2.5 million it shipped a year earlierbut representing just 3.7% of the global market.
The push comes as Lenovo so far enjoys good fortune from the troubled PC industry. Faced with intensifying competition from tablet computers and other portable computer devices, world-wide shipments of laptops and desktops fell 14% in the first quarter from a year earlier, according to IDC.
Lenovo has boosted sales in the meantime and its profit for the quarter ended March 31 rose 90% from a year earlier. Still, its executives have acknowledged the broader consumer shift to gadgets.
Mr. Yang said he sees continued opportunities in the personal-computer market, as PCs evolve to develop more functions. "The PC will not die," said Mr. Yang, but "the future PC is not the past PC."
He said that sales of hybrid products such as Lenovo's Yogawhich combines features of a laptop and tabletwere going well, without providing further details.
Lenovo's world-wide PC shipments totaled 11.7 million in the first quarter of 2013, up fractionally from a year earlier, according to IDC.
The smartphone business could already be profitable in China, but the focus now is investing in research and development and branding, Mr. Yang said. "The gross margin for smartphones is better than PCs," he said, adding, "when you have scale, you will make money."
Analysts say that in smartphones, Lenovolike other Chinese companies such as Huaweifaces a challenge in building the kind of brand recognition in U.S. and European markets that rivals like Apple Inc. and Samsung have.
"Both Samsung and Apple enjoy the fact that customers have emotional connections with their brands, and it's something that does not take place overnight," said IDC smartphone analyst Ramon Llamas.
Mr. Yang also commented on the slowdown in China's growth and the challenge of economic rebalancing. "I believe the export and investment growth engine has reached the limit," he said. "The potential is domestic consumption, shifting from manufacturing to innovation. These will be the main drivers for the next decade."
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