cirr
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The ballooning dollars reserve has to be arrested one way or another。
China Economy Forum
- Thread starter EagleEyes
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The ballooning dollars reserve has to be arrested one way or another。
TaiShang
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China bank to sell yuan bonds first in S. Korea in non-resident capacity
The Industrial and Commercial Bank of China (ICBC), the country's largest bank, plans to sell the Chinese yuan-denominated bonds in South Korea Tuesday for the first time in a non-resident capacity, the bank's Seoul branch said Monday.
ICBC Asia, the bank's Hong Kong branch, will issue the two-year Chinese currency bonds worth 180 million yuan (about 31.3 billion won or 29.2 million US dollars) here on Oct. 14 at a coupon rate of 3.7 percent.
The Chinese bank would become the first foreign lender to float yuan bonds here in the capacity of non-resident.
"It has a significant meaning as a non-resident sells yuan bonds for the first time," an official at the South Korean finance ministry said over the phone, noting that the ministry is paying much attention to the issuance.
The official said Seoul is mulling various tools to induce foreign players to sell yuan bonds here, adding that yuan debt sales are anticipated to keep increasing over time.
The ICBC plan came after Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye agreed during their July summit meeting in Seoul to boost yuan debt sales in South Korea.
Woori Bank, one of South Korea's leading banks, issued 200 million yuan of the two-year Chinese currency bonds in South Korea on Oct. 10, the first issuance by local players.
The bond's coupon rate was 3.87 percent, higher than the ICBC rate of 3.7 percent. It means the ICBC would pay less borrowing costs.
The ICBC named KDB Daewoo Securities as an arranger for the yuan bond issuance, and it will serve as a clearing bank for the sale.
The Industrial and Commercial Bank of China (ICBC), the country's largest bank, plans to sell the Chinese yuan-denominated bonds in South Korea Tuesday for the first time in a non-resident capacity, the bank's Seoul branch said Monday.
ICBC Asia, the bank's Hong Kong branch, will issue the two-year Chinese currency bonds worth 180 million yuan (about 31.3 billion won or 29.2 million US dollars) here on Oct. 14 at a coupon rate of 3.7 percent.
The Chinese bank would become the first foreign lender to float yuan bonds here in the capacity of non-resident.
"It has a significant meaning as a non-resident sells yuan bonds for the first time," an official at the South Korean finance ministry said over the phone, noting that the ministry is paying much attention to the issuance.
The official said Seoul is mulling various tools to induce foreign players to sell yuan bonds here, adding that yuan debt sales are anticipated to keep increasing over time.
The ICBC plan came after Chinese President Xi Jinping and his South Korean counterpart Park Geun-hye agreed during their July summit meeting in Seoul to boost yuan debt sales in South Korea.
Woori Bank, one of South Korea's leading banks, issued 200 million yuan of the two-year Chinese currency bonds in South Korea on Oct. 10, the first issuance by local players.
The bond's coupon rate was 3.87 percent, higher than the ICBC rate of 3.7 percent. It means the ICBC would pay less borrowing costs.
The ICBC named KDB Daewoo Securities as an arranger for the yuan bond issuance, and it will serve as a clearing bank for the sale.
Solomon2
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Around Asia
Gordon G. Chang
China’s Economy Slides—and Capital Flees
10 October 2014
In a few days, China’s official National Bureau of Statistics will report the results for both September, the last month of the third calendar quarter, and the quarter as a whole. Analysts generally expect growth of gross domestic product will fall slightly from the second quarter’s 7.5 percent. Bank of China, one of the country’s Big Four state banks, predicts the economy will expand 7.3 percent.
In reality, growth is far less than that. Especially indicative is electricity consumption, often viewed as a proxy for the economy as a whole and widely considered to be the most reliable indicator. Electricity was up 5.9 percent in June from the same month in 2013, up 3.0 percent in July, and down 1.5 percent in August. Notice a trend?
Some analysts are fond of saying that electricity is no longer as indicative as it once was because it tracks manufacturing and manufacturing is no longer the biggest sector of the economy, having been narrowly eclipsed by services, now about 46 percent of GDP.
The service sector, however, does not appear especially robust. For one thing, freight and logistics services are directly related to the deteriorating manufacturing sector. Moreover, construction, a big prop for services, looks like a disaster in the making. For the first eight months of the year, construction starts were down 10.5 percent.
Retailing, a big hope for optimists, looks to be in trouble. Stagnating consumption is evident from private surveys and, among other indicators, falling imports and negative same-store sales for retailers. In Walmart’s second quarter, the retailer’s international division had same-store sales growth in every country except China. Other major retailers also saw falling same-store sales in China during the quarter.
And it appears unlikely that there will be a significant pickup in consumption this year. Employment growth is probably now no better than it was last year: 0.36 percent, according to China’s Ministry of Human Resources and Social Security. Moreover, the downturn in housing values—month-on-month prices declined in August for the fourth-straight month—will soon hit retailing hard because, for example, furniture and home appliance purchases will inevitably fall. Sales volumes for homes are also swooning across the country.
Exports are the one bright spot for the economy, but exports can no longer carry the entire economy.
Put all the factors together, growth this year will be less than in 2013. In 2013, growth was probably no more than 2.2 percent, not the 7.7 percent NBS reported.
The last Chinese recession, according to NBS, was in 1976, the year Mao Zedong died. What happens when the Chinese economy falls into recession this time?
For one thing, money will flee China faster than it does now. Many may think the sale of the Waldorf Astoria to a little-known insurance company in Beijing is a result of China’s strength—Hong Kong’s South China Morning Post called the record price “a clear sign that economic power is shifting away from the West”—but it looks more like a capital flight play. Why overpay for a slow-growth asset in need of substantial renovation if the prospects in China are so strong?
The truth is that the US looks like a much better bet than China. So the Chinese are bailing out of their own country, buying unloved assets like a slumping theater chain, AMC; a stodgy pork company, Smithfield Foods; and perhaps the riskiest bet in America, buildings in downtown Detroit. Why do we suspect this is capital flight instead of bargain hunting? A recent Barclays study shows that a stunning 47 percent of China’s rich plan to leave their country within five years.
The Chinese economy is based on several deeply flawed premises, but it has worked because the Chinese and foreigners believed that central government technocrats could create growth indefinitely. When they no longer have that confidence, money will flee fast, as it is starting to do now.
No economy can sustain itself in the face of accelerating and prolonged capital flight. And in a country where political discontent and social antagonism already appear high, it is not clear the one-party state can survive long-term economic distress. The Chinese now believe that high growth is normal, and they will probably not react well to a long Chinese downturn.
There is an assumption that China will own the 21st century, but it is just as possible that the country has progressed as far as it can within its existing framework. “This is a period of historic change in China,” noted Mark Schwartz in March. “There haven’t been many periods in history as exciting and as fascinating as this.” The chairman of Goldman Sachs Asia Pacific is absolutely correct—but perhaps not in the way he was trying to convey.
TaiShang
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China closing in on affordable housing target
China has almost met its annual targets for construction of affordable houses, latest data has showed.
By the end of September, the country had started construction on 7.2 million affordable housing units, slightly above the seven million target set for the whole year, while 4.7 million had been basically completed, accounting for 98 percent of the annual target, according to a statement from the Ministry of Housing and Urban-Rural Development.
Altogether, 1.07 trillion yuan (174 billion U.S. dollars) has been invested in the program this year, the ministry said.
Approved in 1999, the program is designed to provide cheaper housing to low-income families who have been edged out by runaway real estate prices.
The government work report released earlier this year set the target of beginning construction of more than seven million houses, 4.7 million of them for people living in shanty shelters.
***
China and South Korea have agreed to extend an existing currency swap agreement of 360 billion yuan for another three years. The move aims to boost trade between the two countries.
China has almost met its annual targets for construction of affordable houses, latest data has showed.
By the end of September, the country had started construction on 7.2 million affordable housing units, slightly above the seven million target set for the whole year, while 4.7 million had been basically completed, accounting for 98 percent of the annual target, according to a statement from the Ministry of Housing and Urban-Rural Development.
Altogether, 1.07 trillion yuan (174 billion U.S. dollars) has been invested in the program this year, the ministry said.
Approved in 1999, the program is designed to provide cheaper housing to low-income families who have been edged out by runaway real estate prices.
The government work report released earlier this year set the target of beginning construction of more than seven million houses, 4.7 million of them for people living in shanty shelters.
***
China and South Korea have agreed to extend an existing currency swap agreement of 360 billion yuan for another three years. The move aims to boost trade between the two countries.
Last edited:
yusheng
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2012年3月，聚龙一号装置整机安装工作全部结束。直径约33米、高度近7米的聚龙一号装置傲然矗立。它由储能系统、脉冲形成与传输系统、电流汇聚系统、物理负载系统和辅助系统等组成，包含了1440台脉冲电容器、720个场畸变开关、24台激光触发气体开关、12台高性能激光器。
2012 March, dragon 1 device machine installation ended . diameter 33 meters, 7 meters high . It is composed of an energy storage system, pulse forming and transmitting system, current collecting system, physical load system and auxiliary system , 1440 pulse capacitor, 720 field distortion switch, 24 sets of laser triggered gas switches, including 12 high performance laser.
中物院创建于1958年，是以发展国防尖端科学技术为主的理论、实验、设计、生产的综合体，是我国唯一从事核武器研制生产的综合性研究院。流体物理研究所是中物院下属的第一研究所，主要从事核武器研制、高新技术武器研制、军民两用技术开发及成果转化等工作。
CAEP founded in 1958, is to develop sophisticated national defense science and technology theory, experiment, design, production of the complex, is a school of comprehensive research in China only engaged in nuclear weapons development and production. Fluid Physics Research Institute is the first Research Institute of CAEP, mainly engaged in the development of nuclear weapons, the high-tech weapons, dual-use technology development and achievements transformation work.
伴随着1996年全面禁止核武器试验条约的签署，如何在实验室条件下，创造出接近核武器爆炸产生的极端高温、高压、高密度、强辐射条件，成为新时期核武器研究能否有效开展的关键。
With the 1996 signing the comprehensive nuclear test ban treaty, how to create a nuclear explosion produces near the extreme high temperature, high pressure, high density, strong radiation condition under laboratory conditions become the key to the new era of nuclear weapons RESEARCH.
2012 March, dragon 1 device machine installation ended . diameter 33 meters, 7 meters high . It is composed of an energy storage system, pulse forming and transmitting system, current collecting system, physical load system and auxiliary system , 1440 pulse capacitor, 720 field distortion switch, 24 sets of laser triggered gas switches, including 12 high performance laser.
中物院创建于1958年，是以发展国防尖端科学技术为主的理论、实验、设计、生产的综合体，是我国唯一从事核武器研制生产的综合性研究院。流体物理研究所是中物院下属的第一研究所，主要从事核武器研制、高新技术武器研制、军民两用技术开发及成果转化等工作。
CAEP founded in 1958, is to develop sophisticated national defense science and technology theory, experiment, design, production of the complex, is a school of comprehensive research in China only engaged in nuclear weapons development and production. Fluid Physics Research Institute is the first Research Institute of CAEP, mainly engaged in the development of nuclear weapons, the high-tech weapons, dual-use technology development and achievements transformation work.
伴随着1996年全面禁止核武器试验条约的签署，如何在实验室条件下，创造出接近核武器爆炸产生的极端高温、高压、高密度、强辐射条件，成为新时期核武器研究能否有效开展的关键。
With the 1996 signing the comprehensive nuclear test ban treaty, how to create a nuclear explosion produces near the extreme high temperature, high pressure, high density, strong radiation condition under laboratory conditions become the key to the new era of nuclear weapons RESEARCH.
Keel
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Chinese group only bidder for Mexico high-speed train
A Chinese-led consortium was the only group to enter a bid for a high-speed train project connecting Mexico City and the central city of Queretaro, the transport ministry said Thursday.
File photo of a general view of the smog covering the Mexico City skyline on Mar 30, 2014. (AFP/Yuri Cortez
MEXICO CITY: A Chinese-led consortium was the only group to enter a bid for a high-speed train project connecting Mexico City and the central city of Queretaro, the transport ministry said Thursday.
The China Railway Construction Corp. presented on Wednesday a US$4.3 billion plan to build the trains and 210-kilometre railway, the ministry said in a statement.
The project is part of President Enrique Pena Nieto's decision to bring back passenger trains, which all but disappeared more than a decade ago, except for some tourist lines. Pena Nieto has also sought to forge closer trade ties with China, hosting President Xi Jinping during a state visit last year.
The transport ministry said 16 companies decided not to make a proposal, including industry giants Mitsubishi of Japan, Alstom of France, Bombardier of Canada and Siemens of Germany.
The Chinese-led consortium, which includes four Mexican firms, was the only one to make a proposal by Wednesday's deadline.
The transport ministry said it will decide whether to accept the offer on Nov 3. The government expects construction to start in December and operations to begin in 2017.
The project aims to carry 23,000 passengers per day at speeds of up to 300 kilometres per hour.
- AFP/de
- POSTED: 17 Oct 2014 04:2
A Chinese-led consortium was the only group to enter a bid for a high-speed train project connecting Mexico City and the central city of Queretaro, the transport ministry said Thursday.
MEXICO CITY: A Chinese-led consortium was the only group to enter a bid for a high-speed train project connecting Mexico City and the central city of Queretaro, the transport ministry said Thursday.
The China Railway Construction Corp. presented on Wednesday a US$4.3 billion plan to build the trains and 210-kilometre railway, the ministry said in a statement.
The project is part of President Enrique Pena Nieto's decision to bring back passenger trains, which all but disappeared more than a decade ago, except for some tourist lines. Pena Nieto has also sought to forge closer trade ties with China, hosting President Xi Jinping during a state visit last year.
The transport ministry said 16 companies decided not to make a proposal, including industry giants Mitsubishi of Japan, Alstom of France, Bombardier of Canada and Siemens of Germany.
The Chinese-led consortium, which includes four Mexican firms, was the only one to make a proposal by Wednesday's deadline.
The transport ministry said it will decide whether to accept the offer on Nov 3. The government expects construction to start in December and operations to begin in 2017.
The project aims to carry 23,000 passengers per day at speeds of up to 300 kilometres per hour.
- AFP/de
Keel
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Added on October 20, 2014 10:23 am
Chinese group officially selected to build two new nuclear reactors in Romania
China General Nuclear Power Corporation (CGN) has officially become the strategic investor which will develop units 3 and 4 of Romania’s Cernavoda nuclear power plant, Romanian state-owned Nuclearelectrica announced on Friday, October 17.
Nuclearelectrica and CGN representatives recently signed the joint letter of intent for this project. The Chinese company was the only investor interested in the project.
In the next phase, the two sides will negotiate and sign a memorandum of understanding for the project. They will have to create a new company, in which the Chinese will have at least 51% of the shares and Nuclearelectrica will be minority shareholder.
The estimated cost of the project is currently EUR 6.45 billion, but the feasibility study will be reviewed.
The two new units of the Cernavoda nuclear power plant should have an installed capacity of 740 MW each. The power plant, which is operated by Nuclearelectrica, currently has two operational reactors of 706 MW each, which generate about 18% of the country’s electricity output.
Romania currently produces more energy than it uses and the surplus goes to export. The project to build two new nuclear reactors needs to be backed up by new export markets for electricity and by a state aid scheme to ensure a minimum sale price for the energy produced by the new company, which also needs to be approved by the European Commission.
The European Commission recently approved Great Britain’s project to build the Hinkley Point nuclear power plant, which also includes a state aid scheme.
Andrei Chirileasa, andrei@romania-insider.com
Li upbeat despite economic slowdown
(China Daily) 07:33, October 22, 2014
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Premier Li Keqiang meets heads of delegations on Tuesday ahead of the APEC FinanceMinisters' Meeting in Beijing. FENG YONGBIN / CHINA DAILY
Growth weakest for 66 months, but 'positive and profound changes' seen
China's economic growth slowed in the third quarter to its weakest pace in five and a halfyears, but Premier Li Keqiang said on Tuesday structural improvements can be seen.
The world's second-largest economy grew by 7.3 percent from July to September from ayear earlier, down from 7.5 percent in the second quarter, the National Bureau ofStatistics said.
The quarterly growth rate is the slowest since the first three months of 2009, when Chinawas hit by the global financial crisis.
But Li said the economy has remained running within "a reasonable range" in the firstthree quarters of this year, with evidence of some "positive and profound changes".
He made the remarks when meeting heads of delegations attending the APEC FinanceMinisters' Meeting, being held in Beijing on Wednesday.
Li said structural optimization has been more apparent, led by the service sector and withnew industries emerging more quickly.
Administrative reforms have spurred new momentum for development, while indices foremployment and energy efficiency have performed better than expected, he said.
But he added that given the complex external environment and downward pressure on theeconomy, it will take time for the reform measures to fully take effect.
Weak data in the past quarter emerged from the slumping property investment sector andfrom severe overcapacity.
"The data is slightly better than anticipated. In particular, industrial output in Septembergrew by 8 percent, which mitigated concerns that the economy faced mounting downwardpressure," said Wang Jun, a researcher at the China Center for International EconomicExchanges.
"Judging from the current figures, the full-year target for growth of around 7.5 percentcould be realized."
Some economists believe that growth in the fourth quarter will improve.
"The government has reiterated that no broad stimulus measures will be implemented,and I think today's data will further bolster and strengthen that trend," said Zhu Haibin,chief China economist at JPMorgan Chase &Co.
Tang Jianwei, an economist at the Bank of Communications, said, "Exports andconsumption are likely to remain stable, while investment will probably stabilize. Given afavorable comparison base of last year, fourth-quarter growth could pick up slightly to 7.4percent."
Sheng Laiyun, spokesman for the National Bureau of Statistics, said at a news conferencethat the chances of the economy continuing to run at a "steadily fast" pace are very high.
"Inflation and employment are generally stable. Although growth has eased, the economyis still functioning within a reasonable range," Sheng said.
However, Tom Orlik, North Asia economist at Bloomberg, said: "I'd be quite surprised iffourth-quarter growth is stronger. Headwinds to the economy persist, especially from thedownturn in the real estate sector and the government's measures to tackle overcapacity inindustry.
"The current double-digit growth rates in exports look tough to sustain, given fragileglobal growth. That suggests growth could continue to edge down," he said.
But Orlik believes that the message from this year is that "China does not need super-charged GDP growth in order to deliver low unemployment and rising incomes."
Analysts have said the economy has been more resilient in creating jobs and generatingincome, despite slow growth.
In the first nine months of the year, more than 10 million jobs were added in urban areas,meaning the full year's employment target has been fulfilled ahead of time, the statisticsbureau said.
Given these facts, the government has few reasons to unveil aggressive measures, analystssaid.
Sheng pointed to optimistic signs of rebalancing. Consumption contributed 48.5 percentto GDP growth in the first three quarters, up from 45.9 percent in the same period lastyear.
(Editor:Liang Jun、Bianji)
Chinese group officially selected to build two new nuclear reactors in Romania
China General Nuclear Power Corporation (CGN) has officially become the strategic investor which will develop units 3 and 4 of Romania’s Cernavoda nuclear power plant, Romanian state-owned Nuclearelectrica announced on Friday, October 17.
Nuclearelectrica and CGN representatives recently signed the joint letter of intent for this project. The Chinese company was the only investor interested in the project.
In the next phase, the two sides will negotiate and sign a memorandum of understanding for the project. They will have to create a new company, in which the Chinese will have at least 51% of the shares and Nuclearelectrica will be minority shareholder.
The estimated cost of the project is currently EUR 6.45 billion, but the feasibility study will be reviewed.
The two new units of the Cernavoda nuclear power plant should have an installed capacity of 740 MW each. The power plant, which is operated by Nuclearelectrica, currently has two operational reactors of 706 MW each, which generate about 18% of the country’s electricity output.
Romania currently produces more energy than it uses and the surplus goes to export. The project to build two new nuclear reactors needs to be backed up by new export markets for electricity and by a state aid scheme to ensure a minimum sale price for the energy produced by the new company, which also needs to be approved by the European Commission.
The European Commission recently approved Great Britain’s project to build the Hinkley Point nuclear power plant, which also includes a state aid scheme.
Andrei Chirileasa, andrei@romania-insider.com
Li upbeat despite economic slowdown
(China Daily) 07:33, October 22, 2014
Email|Print|Comments
Premier Li Keqiang meets heads of delegations on Tuesday ahead of the APEC FinanceMinisters' Meeting in Beijing. FENG YONGBIN / CHINA DAILY
Growth weakest for 66 months, but 'positive and profound changes' seen
China's economic growth slowed in the third quarter to its weakest pace in five and a halfyears, but Premier Li Keqiang said on Tuesday structural improvements can be seen.
The world's second-largest economy grew by 7.3 percent from July to September from ayear earlier, down from 7.5 percent in the second quarter, the National Bureau ofStatistics said.
The quarterly growth rate is the slowest since the first three months of 2009, when Chinawas hit by the global financial crisis.
But Li said the economy has remained running within "a reasonable range" in the firstthree quarters of this year, with evidence of some "positive and profound changes".
He made the remarks when meeting heads of delegations attending the APEC FinanceMinisters' Meeting, being held in Beijing on Wednesday.
Li said structural optimization has been more apparent, led by the service sector and withnew industries emerging more quickly.
Administrative reforms have spurred new momentum for development, while indices foremployment and energy efficiency have performed better than expected, he said.
But he added that given the complex external environment and downward pressure on theeconomy, it will take time for the reform measures to fully take effect.
Weak data in the past quarter emerged from the slumping property investment sector andfrom severe overcapacity.
"The data is slightly better than anticipated. In particular, industrial output in Septembergrew by 8 percent, which mitigated concerns that the economy faced mounting downwardpressure," said Wang Jun, a researcher at the China Center for International EconomicExchanges.
"Judging from the current figures, the full-year target for growth of around 7.5 percentcould be realized."
Some economists believe that growth in the fourth quarter will improve.
"The government has reiterated that no broad stimulus measures will be implemented,and I think today's data will further bolster and strengthen that trend," said Zhu Haibin,chief China economist at JPMorgan Chase &Co.
Tang Jianwei, an economist at the Bank of Communications, said, "Exports andconsumption are likely to remain stable, while investment will probably stabilize. Given afavorable comparison base of last year, fourth-quarter growth could pick up slightly to 7.4percent."
Sheng Laiyun, spokesman for the National Bureau of Statistics, said at a news conferencethat the chances of the economy continuing to run at a "steadily fast" pace are very high.
"Inflation and employment are generally stable. Although growth has eased, the economyis still functioning within a reasonable range," Sheng said.
However, Tom Orlik, North Asia economist at Bloomberg, said: "I'd be quite surprised iffourth-quarter growth is stronger. Headwinds to the economy persist, especially from thedownturn in the real estate sector and the government's measures to tackle overcapacity inindustry.
"The current double-digit growth rates in exports look tough to sustain, given fragileglobal growth. That suggests growth could continue to edge down," he said.
But Orlik believes that the message from this year is that "China does not need super-charged GDP growth in order to deliver low unemployment and rising incomes."
Analysts have said the economy has been more resilient in creating jobs and generatingincome, despite slow growth.
In the first nine months of the year, more than 10 million jobs were added in urban areas,meaning the full year's employment target has been fulfilled ahead of time, the statisticsbureau said.
Given these facts, the government has few reasons to unveil aggressive measures, analystssaid.
Sheng pointed to optimistic signs of rebalancing. Consumption contributed 48.5 percentto GDP growth in the first three quarters, up from 45.9 percent in the same period lastyear.
(Editor:Liang Jun、Bianji)
Keel
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China's rail car giant to supply light rail vehicles to Malaysia
(Xinhua) 19:57, October 21, 2014
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KUALA LUMPUR, Oct. 21 -
China's leading railway car manufacturer, China South Locomotive and Rolling Stock Corporation Ltd. (CSR), signed a contract here Tuesdaywith a Malaysian company to supply 30 Light Rail Vehicles (LRVs) for Malaysia Ampang Line, nine of which will be produced in Malaysia.
This is CSR Zhuzhou Electric Locomotive Co., Ltd's (CSR ZELC) second project of masstransit vehicles for Malaysia, and the new LRVs are three-car trains with designedmaximum speed of 80 km/h, which will be operated on Ampang Line and AmpangExtension Line with the existing LRVs.
At the signing ceremony with Prasarana, Malaysia's largest asset owners for publictransport services and facilities, Zhou Qinghe, chairman and general manager of CSRZELC, said they will do their best to run the project well.
He also said they will cooperate with the Malaysian side in terms of capital, participate inthe construction of Malaysia transportation in various ways, such as turnkey contract andso on, and transfer the advanced technology and management concept to Malaysia.
CSR ZELC invested 400 million Malaysian Ringgit (122.6 million U.S. dollars) to build arail transit equipment manufacturing base in Malaysia in April 2013, which will providerail transit vehicle welding, assembly, testing, overhaul and refurbishment.
The first phase of the construction of the manufacturing base will be completed by the endof 2014, when it will be able to produce 150 new vehicles per year and overhaul 100vehicles per year.
(Editor:张媛、Bianji)
China’s rail car giant starts building manufacturing center in Malaysia
China’s rail car giant starts building manufacturing center in Malaysia : China’s leading railway car manufacturer, China South Locomotive and Rolling Stock Corporation Ltd. (CSR), started the building of its 131 million U. S. dollars ASEAN manufacturing and maintenance center in Malaysia on Tuesday.
Malaysian Prime Minister Najib Razak, officiating the ground breaking ceremony in Batu Gajah of Perak State, said the project is a result of the good bilateral relations between Malaysia and China.
“The first phase of the project, valued at 400 million ringgit (131 million U.S. dollars), would create 800 jobs,” he told local residents and railway employees.The ASEAN rail center would cover all-in-one scope of work of production, assembly, testing, overhaul and refurbishment.
The first phase of the project is expected to be completed by mid-2014, with the annual capacity of the production of 100 carriages and the overhaul of around 150.
Zhou Qinghe, general manager of CSR Zhuzhou Electric Locomotive Co., Ltd. (CSR ZELC), a CSR subsidiary and an active player in Malaysia’s mass transit projects, said the company is eyeing Malaysia as the base to promote its products in other Southeast Asian countries.
CSR ZELC has won the bid for 20 sets of light rail vehicles for Malaysia’s AMPANG Line Extension Project, and the cars will be among the first to be manufactured by the new plant.
“We managed to become accredited in the country after several years of good cooperation with Malaysia,” Zhou told Xinhua.
The agreement signed between the Malaysian government and the company last year also involves technical cooperation in railway engineering and technology, as well as human resources training.
CSR, based in Beijing and listed on Hong Kong and Shanghai stock markets, has been developed into one of the major players in the global railway transport industry and is one of the biggest by global sales revenue.
Source : People Daily
(Xinhua) 19:57, October 21, 2014
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KUALA LUMPUR, Oct. 21 -
China's leading railway car manufacturer, China South Locomotive and Rolling Stock Corporation Ltd. (CSR), signed a contract here Tuesdaywith a Malaysian company to supply 30 Light Rail Vehicles (LRVs) for Malaysia Ampang Line, nine of which will be produced in Malaysia.
This is CSR Zhuzhou Electric Locomotive Co., Ltd's (CSR ZELC) second project of masstransit vehicles for Malaysia, and the new LRVs are three-car trains with designedmaximum speed of 80 km/h, which will be operated on Ampang Line and AmpangExtension Line with the existing LRVs.
At the signing ceremony with Prasarana, Malaysia's largest asset owners for publictransport services and facilities, Zhou Qinghe, chairman and general manager of CSRZELC, said they will do their best to run the project well.
He also said they will cooperate with the Malaysian side in terms of capital, participate inthe construction of Malaysia transportation in various ways, such as turnkey contract andso on, and transfer the advanced technology and management concept to Malaysia.
CSR ZELC invested 400 million Malaysian Ringgit (122.6 million U.S. dollars) to build arail transit equipment manufacturing base in Malaysia in April 2013, which will providerail transit vehicle welding, assembly, testing, overhaul and refurbishment.
The first phase of the construction of the manufacturing base will be completed by the endof 2014, when it will be able to produce 150 new vehicles per year and overhaul 100vehicles per year.
(Editor:张媛、Bianji)
China’s rail car giant starts building manufacturing center in Malaysia
China’s rail car giant starts building manufacturing center in Malaysia : China’s leading railway car manufacturer, China South Locomotive and Rolling Stock Corporation Ltd. (CSR), started the building of its 131 million U. S. dollars ASEAN manufacturing and maintenance center in Malaysia on Tuesday.
Malaysian Prime Minister Najib Razak, officiating the ground breaking ceremony in Batu Gajah of Perak State, said the project is a result of the good bilateral relations between Malaysia and China.
“The first phase of the project, valued at 400 million ringgit (131 million U.S. dollars), would create 800 jobs,” he told local residents and railway employees.The ASEAN rail center would cover all-in-one scope of work of production, assembly, testing, overhaul and refurbishment.
The first phase of the project is expected to be completed by mid-2014, with the annual capacity of the production of 100 carriages and the overhaul of around 150.
Zhou Qinghe, general manager of CSR Zhuzhou Electric Locomotive Co., Ltd. (CSR ZELC), a CSR subsidiary and an active player in Malaysia’s mass transit projects, said the company is eyeing Malaysia as the base to promote its products in other Southeast Asian countries.
CSR ZELC has won the bid for 20 sets of light rail vehicles for Malaysia’s AMPANG Line Extension Project, and the cars will be among the first to be manufactured by the new plant.
“We managed to become accredited in the country after several years of good cooperation with Malaysia,” Zhou told Xinhua.
The agreement signed between the Malaysian government and the company last year also involves technical cooperation in railway engineering and technology, as well as human resources training.
CSR, based in Beijing and listed on Hong Kong and Shanghai stock markets, has been developed into one of the major players in the global railway transport industry and is one of the biggest by global sales revenue.
Source : People Daily
TaiShang
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China's 361 signs Rio 2016 uniform deal
Source:Xinhua
Chinese sports apparel maker 361 will be the official uniform supplier for the Rio 2016 Olympics, organizers said on Wednesday.
The company will provide more than 106,500 uniforms to technical staff, volunteers, test event personnel and torch relay participants, according to a statement on the Rio 2016 website.
"With the responsibility of supplying uniforms to the volunteers and staff, which are extremely important groups for us and for the staging of the Olympic and Paralympic Games, we are confident that 361 will do a great job in our challenge of delivering excellent and memorable games," said Rio 2016 President Carlos Nuzman.
Financial details of the agreement were not disclosed.
The Chinese firm's CEO, Ding Wuhao, said production of the uniforms would begin in 2015.
"Our group has long been seeking a partnership and there couldn't be a better time to achieve this goal," Wuhao said. "This is a milestone in our history and we are very happy that everyone will have the opportunity to get to know our brand and products in the country."
Founded in 2003, 361 sponsored the Guangzhou 2010 and Incheon 2014 Asian Games, and the Nanjing 2014 Youth Olympic Games.
Source:Xinhua
Chinese sports apparel maker 361 will be the official uniform supplier for the Rio 2016 Olympics, organizers said on Wednesday.
The company will provide more than 106,500 uniforms to technical staff, volunteers, test event personnel and torch relay participants, according to a statement on the Rio 2016 website.
"With the responsibility of supplying uniforms to the volunteers and staff, which are extremely important groups for us and for the staging of the Olympic and Paralympic Games, we are confident that 361 will do a great job in our challenge of delivering excellent and memorable games," said Rio 2016 President Carlos Nuzman.
Financial details of the agreement were not disclosed.
The Chinese firm's CEO, Ding Wuhao, said production of the uniforms would begin in 2015.
"Our group has long been seeking a partnership and there couldn't be a better time to achieve this goal," Wuhao said. "This is a milestone in our history and we are very happy that everyone will have the opportunity to get to know our brand and products in the country."
Founded in 2003, 361 sponsored the Guangzhou 2010 and Incheon 2014 Asian Games, and the Nanjing 2014 Youth Olympic Games.
cirr
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Rice grows in saline alkali soil irrigated by seawater：
湛江日报数字报-风吹稻花香海岸 誓把海洋变粮仓
陈日胜“浸”在稻海里观察海水稻穗粒生长情况。
遂溪虎头坡沿海盐碱地，退潮后海水稻生长茂盛。
遂溪虎头坡沿海盐碱地，涨潮后海水稻被淹没。
海水稻米特写。
湛江日报数字报-风吹稻花香海岸 誓把海洋变粮仓
陈日胜“浸”在稻海里观察海水稻穗粒生长情况。
遂溪虎头坡沿海盐碱地，退潮后海水稻生长茂盛。
遂溪虎头坡沿海盐碱地，涨潮后海水稻被淹没。
海水稻米特写。
Keel
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Rice grows in saline alkali soil irrigated by seawater：
湛江日报数字报-风吹稻花香海岸 誓把海洋变粮仓
陈日胜“浸”在稻海里观察海水稻穗粒生长情况。
遂溪虎头坡沿海盐碱地，退潮后海水稻生长茂盛。
遂溪虎头坡沿海盐碱地，涨潮后海水稻被淹没。
海水稻米特写。
Just amazing
I dont know how many countries in the world are doing this
It greatly enhances the arable area, increasing food productions, saving fresh water and the rice is even tastier
Keel
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Gigantic Dump Trucks - Made in China 
矿用自卸车中的“巨无霸”
2014年10月23日 15:08:29 | 责任编辑: 李清 | 来源： 新华网 ♦ 关键词 ⇒ 重型 巨无霸 轮毂 王颂
一台刚组装的HT3363型重型矿用自卸车驶出生产车间（10月23日摄）。由位于湖北省孝感市的航天重型工程有限公司设计研制生产的HT3363型重型矿用自卸车，车长15.77米，宽9.5米，高7.9米，自重237吨，额定载重达363吨，具有承载能力强、抗倾翻能力强、安全性能高、主要部件国产化等特点，被称为矿用自卸车中的“巨无霸”。新华社记者王颂摄
2014年10月23日 15:08:29 | 责任编辑: 李清 | 来源： 新华网 ♦ 关键词 ⇒ 重型 巨无霸 轮毂 王颂
矿用自卸车中的“巨无霸”
2014年10月23日 15:08:29 | 责任编辑: 李清 | 来源： 新华网 ♦ 关键词 ⇒ 重型 巨无霸 轮毂 王颂
一台刚组装的HT3363型重型矿用自卸车驶出生产车间（10月23日摄）。由位于湖北省孝感市的航天重型工程有限公司设计研制生产的HT3363型重型矿用自卸车，车长15.77米，宽9.5米，高7.9米，自重237吨，额定载重达363吨，具有承载能力强、抗倾翻能力强、安全性能高、主要部件国产化等特点，被称为矿用自卸车中的“巨无霸”。新华社记者王颂摄
2014年10月23日 15:08:29 | 责任编辑: 李清 | 来源： 新华网 ♦ 关键词 ⇒ 重型 巨无霸 轮毂 王颂
+4vsgorillas-Apebane
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Rice grows in saline alkali soil irrigated by seawater：
湛江日报数字报-风吹稻花香海岸 誓把海洋变粮仓
陈日胜“浸”在稻海里观察海水稻穗粒生长情况。
遂溪虎头坡沿海盐碱地，退潮后海水稻生长茂盛。
遂溪虎头坡沿海盐碱地，涨潮后海水稻被淹没。
海水稻米特写。
Wouldn't using sea water for irrigation damage the land? Build up the salt and the land is ruined. Unless they are doing this on land already flooded over by seawater.
Keel
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Allow me to jump in
On high tide the arable land and crops are almost totally submerged in sea water
The look of the rice field after the tide subsides
I guess you would know what I mean now.
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