What's new

China Economy Forum

thank god all i need is a short trip from Guangzhou to Shenzhen. otherwise i'll be one tiny drop in the ocean of people.....:hitwall:

2.8 billion trips in 40 days.
It's mind boggling.

Let me see;
that's 70 million trips per day during that period.

“the largest annual human migration in the world”.
yep, we need HSR.
 
thank god all i need is a short trip from Guangzhou to Shenzhen. otherwise i'll be one tiny drop in the ocean of people.....:hitwall:
try getting a ferry to Hainan and you would understand crazy :P
 
my family is planing a self drive trip from Shenzhen to Hainan ...... we are crazy already.
i advice you to get an umbrella, bottled water, and lots of patience for this journey. Best of luck friend I wonder why are you torturing yourself :P
on a serious note safe trip and say hi to Sanya for me I will visit it next year hopefully:-)
 
my trip -----from shenzhen to shandong ...
about 45 days ago I bought a hard seat ticket, it was from Guangzhou to Linyi,i should go to guangzhou firstly and then a 28 hours seat trip- about 2000 kms,which would kill me:hitwall:,howerver it is very cheap ,only about 320 rmb including shenzhen to guangzhou
651C3C88D07B2056DB830995FC9334FE.jpg



then i bought two sleeping berth tickets and cancel the hard seat, one from shenzhen to shanghai ,and then from shanghai to linyi...lol about 930 rmb in total, 700rmb cheaper than airline tickets


first one :HSR berth
n_50018327.jpg



second one:hard sleeper...
res01_attpic_brief.jpg
 
my trip -----from shenzhen to shandong ...
about 45 days ago I bought a hard seat ticket, it was from Guangzhou to Linyi,i should go to guangzhou firstly and then a 28 hours seat trip- about 2000 kms,which would kill me:hitwall:,howerver it is very cheap ,only about 320 rmb including shenzhen to guangzhou
651C3C88D07B2056DB830995FC9334FE.jpg



then i bought two sleeping berth tickets and cancel the hard seat, one from shenzhen to shanghai ,and then from shanghai to linyi...lol about 930 rmb in total, 700rmb cheaper than airline tickets


first one :HSR berth



second one:hard sleeper...
res01_attpic_brief.jpg
hard seat during Chunyun for 28 hrs.... bad idea...
930 rmb from Shenzhen to Shandong is a good bargain, considering time saved and comfort level.:)
 
hard seat during Chunyun for 28 hrs.... bad idea...
930 rmb from Shenzhen to Shandong is a good bargain, considering time saved and comfort level.:)
动卧到上海700,另外一张230
 
Official testing of Addis Ababa light railway inaugurated
(Xinhua) Updated: 2015-02-02 09:01
lightrail.jpg

The train of the Addis Ababa light railway is in operation, Feb 1, 2015. Photo by Ni Tao/Peopel's Daily

ADDIS ABABA - Official testing of the Addis Ababa light railway was launched on Sunday at a colorful ceremony in the presence of senior government officials, diplomats, other dignitaries as well as residents here in Ethiopia's capital.

The Addis Ababa light railway is one of Ethiopia's mega development projects in the country's five-year growth and transformation plan.

The 34 km electrified railway project is being contracted by the China Railway Group Limited (CREC) in the capital of the East African nation.

Speaking at the ceremony held at Kality area, Prime Minister Hailemariam Desalegn of Ethiopia hailed the project's contribution not only to the transportation in Addis Ababa but also to technology and skill transfer in the country.

The premier noted that the Ethiopian Government has been working to ensure modern transportation system while maintaining the goal of building carbon emission-free transport system.

Ethiopia's Transport Minister, Workineh Gebeyehu, said that the Addis Ababa light railway project is a testimony to the various mega projects which Ethiopia has been undertaking in the transportation sector.

Test rides with officials and residents on board of the rails were conducted on 9 km distance between Kality and Meskel Square.

more at: Official testing of Addis Ababa light railway inaugurated- Chinadaily.com.cn
 
First made-in-China subway train reaches Brazil for 2016 Olympics
2015-02-02 15:55 Ecns.cn Web Editor: Mo Hong'e


U470P886T1D153280F12DT20150202155548.jpg

The first subway train produced for the 2016 Olympic Games in Brazil rolls off the production line in Changchun, Jilin province on Monday, September 29, 2014. Produced by the CNR Changchun Railway Vehicles Co., Ltd., the train can travel at up to 100 kilometers per hour. [File photo: China News Service]

(ECNS) -- The first subway train produced in China for the 2016 Olympic Games in Brazil has arrived in Rio de Janeiro, three months after shipment, Beijing News reported on Monday.

Built by Changchun Railway Vehicles under China CNR Corporation, the train is expected to be put into operation by the end of March or beginning of April.

It is designed to be rust-proof, given the humidity in Rio, while the windows and doors are made from blast-proof materials.

The train is also equipped with air conditioning that allows the interior to remain at a constant 20-23°C even when temperatures outside are as high as 50°C, said designer Duan Hongliang.

The company has signed contracts to produce 204 subway trains and 400 motor train units, comprising 82% of Rio de Janeiro's urban rail transit.

The subway trains will operate on Line Four, between the Olympic village and the Copacabana game center, at speeds of up to 100 kilometers per hour and a maximum passenger capacity of 2240.

This will be the first time that Chinese railway transportation development serves the Olympic Games overseas.
 
ICBC acquires 60% of Standard Bank
Xinhua, February 3, 2015


e89a8f5fc4c2163a919c02.jpg

Industrial and Commercial Bank of China. [File photo]

The Industrial and Commercial Bank of China Monday said it acquired 60 percent of Standard Bank Plc.

Based in London, Standard Bank Plc is the international commodities and foreign exchange arm of Standard Bank Group, the largest African banking group by assets.

ICBC Chairman Jiang Jianqing noted that the liberalization of China's capital market, the development of offshore yuan business, as well as the acceleration of overseas investment, have combined to drive demand for global business.

"The acquisition of Standard Bank Plc is important for ICBC to proactively deal with this demand," Jiang said in an official statement.

By leveraging the two global networks and resources, the joint venture could become a global market platform that meets strategic goals.

ICBC, China's largest commercial bank by assets, bought 20 percent in SBG in 2008 and 80 percent in Standard Bank Argentina in 2012.
 
World's biggest travel rush under way
English.news.cn 2015-02-04



BEIJING, Feb. 4 (Xinhua) -- The world's most populous country kicked off its largest seasonal travel rush on Wednesday with an expected 2.8 billion trips during the 40-day Lunar New Year holiday season.

Taking place annually fourteen days ahead of the Spring Festival holiday, the travel spree, known as "Chunyun" in Chinese, is considered the world's largest human migration, with hundreds of millions of Chinese people traveling home to reunite with family.

This year's number of trips would be 3.4 percent higher than that of last year, according to official estimation.

RAILWAY TRAVEL

China's rail system is expected to handle 300 million trips during the travel rush, up 10 percent from last year. It represents the highest growth of all forms of passenger transportation, according to figures from the National Development and Reform Commission.


This year's growth is expected to be better managed, with the official ticket purchasing website, 12306.cn, opening "Chunyun" ticket sales 60 days ahead of the festival, compared with 20 day in advance in previous years.

This is expected to encourage passengers to plan early and avoid rush hour trips.

Online ticket sales have helped reduce crowds at ticket booths. Beijing West Railway Station, the city's busiest, on Wednesday reported less queues of people to purchase tickets.

In the past, ticket booths in large cities were overwhelmed during the Spring Festival period, with people waiting hours, in some cases days, to make a purchase.

Song Jianguo, the station's spokesman, said the peak period is expected between Feb. 13 and 18, with a record of 230,000 passengers to use the station daily.

He said during the travel rush, they will handle 204 train arrivals and departures a day, meaning a bullet train arrives every 4 minutes and a regular train every five minutes.

However, not all cities have experienced explosive growth during the country's biggest holiday season.

In recent years, the daily "Chunyun" passenger volume in Shanghai has been gradually shrinking, said Zhu Wenzhong, head of Shanghai Railway Station.

This year is no exception, with the station expecting an even smaller crowd than that recorded during the week-long National Day holiday in October, he said.

The estimated 47.5 million passengers expected to travel by airplane, up 8 percent year on year, will see cheaper tickets than normal, as airlines prepare to remove the fuel surcharge on Thursday.

LESS TRIPS FROM COASTS TO INLAND

Over the past decade, hundreds of thousands of migrant workers would take to the nation's expressways on motorcycles, braving the wind and rain for days in order to return home to see their families.

However, as more manufacturing firms move from China's coastal regions to inland provinces, less migrant workers hit the road during "Chunyun" for the arduous and money-saving motorcycle journey.

Big employers such as Taiwan-based Foxconn Technology Group, the supplier for some of the world's biggest tech brands, including Apple, have set up plants in inland places like Henan and Sichuan provinces, absorbing local laborers that used to travel to coastal regions for better-paid jobs.

A spokesman with the public security bureau in Wuzhou City, southwest China's Guangxi Zhuang Autonomous Region, said this year, 300,000 people are expected to ride motorcycles from coastal regions back to their homes in Wuzhou, down from 400,000 during the travel rush in 2013.

In addition to industrial transfer, newly opened high-speed railways linking China's underdeveloped regions with bustling transportation hubs in better developed areas have also helped facilitate travel.

Three new high speed railway lines officially opened in December, reaching far west to the Xinjiang Uygur Autonomous Region, and southwest to Guangxi and Guizhou Province, where a lack of transportation facilities has been a major hurdle for economic growth.
 
Latin American Herald Tribune - China to Provide Equipment, Services for Argentine Nuclear Plant

China to Provide Equipment, Services for Argentine Nuclear Plant
February 5,2015

BUENOS AIRES – China will provide equipment and services for Argentina’s fourth nuclear power plant under a $2 billion long-term financing arrangement, President Cristina Fernandez’s administration said Wednesday.

State-owned company Nucleoelectrica Argentina will build and operate the Atucha III plant, which will have 800 MW of generating capacity, according to the agreement signed in Beijing and publicly announced by Fernandez’s office.

China National Nuclear Corporation, a state-owned entity, will provide technical and instrumental support and other services, as well as equipment, for the power station.

The new plant will be located at the Atucha nuclear complex in Lima, a town some 115 kilometers (70 miles) northwest of Buenos Aires where two other atomic power facilities are in operation.

It will use a CANDU reactor that is similar to the one installed at the Embalse nuclear power station in the central Argentine province of Cordoba. CANDU reactors are heavy-water cooled and moderated and use natural-uranium UO2 fuel.

The financing deal was reached in Beijing in the presence of Argentina’s planning minister, Julio de Vido, and economy minister, Axel Kicillof.

Jose Luis Antunez, president of Nucleoelectrica Argentina S.A., and CNNC’s general manager, Qian Zhimin, signed the contract.
 
Did China just join the global currency wars? | Business Spectator
Peter Cai, 5 Feb, 12:16 PM

The People’s Bank of China has joined its global peers in adopting a looser monetary policy to boost the country’s slowing economy. The central bank cut the reserve requirement ratio -- or the amount of deposits that banks must hold in reserve with the central bank -- by 0.5 per cent to 19.5 per cent for large commercial banks. It provides additional easing to smaller banks that have met the lending target to small and medium sized enterprises, slashing the reserve-requirement ratio by another 0.5 per cent.

This is the first time the central bank has slashed the reserve ratio since May 2012. Chinese banks hold 113.86 trillion yuan in deposits. The across-the-board cut in the reserve ratio will free up 570 billion yuan’s worth of cash for the banks to lend out. The additional cut for smaller banks will add another 130 billion yuan to the total.

The People’s Bank has been reluctant to cut interest rates or lower the reserve ratio in recent times due to concerns about building up more debt to the already highly leveraged corporate, as well as local government, balance sheets. Why did the central bank finally cut the reserve ratio?

It wants to boost confidence. Chinese GDP growth in 2014 was one of the slowest periods on record. The country’s manufacturing sector also contracted for the first time since September 2012 with the official PMI falling to 49.8 -- below the expansion threshold. Economists are predicting an even tougher year ahead for 2015.

Throughout 2014, the central bank used an alphabet soup of monetary tools to inject liquidity into the financial system without lowering the reserve ratio and only cut interest rates once. It did so reluctantly in order to help the cost of funding for the struggling SME sector.

The central bank wants to send out a signal that it will adopt a more accommodative policy to counter a weakening economy. “The PBOC last year was widely reported to have lowered the RRR for selected banks but it didn’t publicise these moves, apparently to avoid giving the impression that its policy stance had changed. Today’s more open approach is consistent with the more accommodative stance being taken since the benchmark interest cut in November,” says Mark Williams, chief asia economist for Capital Economics.

Apart from boosting confidence, the central bank’s cut in the RRR is also to address the problem of a massive outflow of capital last quarter and to offset drainage on domestic liquidity. Historically, Beijing has used the reserve ratio to soak up hot money flowing into China -- especially in the aftermath of quantitative easing in the US.

However, because of a recovering US economy and the end of QE, the money is flowing in the opposition direction. China’s foreign exchange regulator said the country had a $US91 billion deficit in its capital and financial accounts last quarter. This outflow of capital has reduced the country’s domestic liquidity.

Over the longer term, China’s vast accumulation of foreign exchange reserves is probably coming to an end. As a result, Chinese banks no longer need to hold nearly 20 per cent of their total deposits to sterilise the large inflow of the greenback. So the central bank is effectively easing a 'tax' burden on its domestic banks.

Does the latest cut in the reserve ratio signal the Chinese central bank’s decision to join the rank of its global peers in adopting loose monetary policy to stimulate the economy? The estimated 700 billion yuan or $US112bn additional cash will have a limited stimulatory impact on the economy. Don’t forget China is a $10 trillion economy now.

The move is symbolically important; the central bank wants to give a more lasting boost to the real economy, increase the banks’ risk appetite -- especially for the struggling SME sector that has been starved of credit due to the high cost of funding. The additional cut to the reserve ratio for banks that lend a certain amount of money to SMEs and the agricultural sector is evident of that.

The Chinese central bank still maintains a high benchmark interest rate (5.6 per cent) and high reserve ratio at 19.5 per cent. So there is a lot of room for the bank to move if the economy gets worse. At the moment, the central bank is happy with its piecemeal approach and doesn’t want to abandon its tight grip on credit creation.
 
China nuclear firm inks tech agreement with Argentina - China.org.cn
China Daily, February 6, 2015

China National Nuclear Corp, China's largest nuclear power plant operator, said on Thursday it will export its third-generation technology to Argentina under a bilateral agreement.

This will be the first time for China to export nuclear technology to Latin America, and analysts said that such deals will become a new growth driver for the nation's exports.

The deal was signed in Beijing by Nur Bekri, head of the National Energy Administration and Julio De Vido, Argentina's minister of Federal Planning, Public Investment and Services, on Wednesday. The ceremony was witnessed by President Xi Jinping and Argentine President Cristina Fernandez de Kirchner.

Later, Fernandez said on Twitter that the Reactor IV and Reactor V will require investment of $5.8 billion and $7 billion, respectively.

Reactor IV, a heavy-water model, will import 30 percent of its components and parts. Reactor V will import 50 percent of components
, she said.

Ma Yi, an expert at China Nuclear Power Engineering Co, said that the ACP1000, China's domestically developed pressurized-water nuclear reactor, is likely to be used for Reactor V.

Argentina already operates three nuclear power stations that use technology from Germany and Canada. Allowing Chinese companies to participate in new plants means China's nuclear technology can be competitive with its Western peers, said experts.

The ACP1000 nuclear power reactor passed the Generic Reactor Safety Review by the International Atomic Energy Agency in December. The reactor is the core technology of the Hualong One, the third-generation nuclear reactor jointly developed by the CNNC and China General Nuclear Power Group.

"The technology is relatively mature," said Ma, adding China has two nuclear plants planned for the Hualong One technology: Fuqing in Fujian province and Fangchenggang in the Guangxi Zhuang autonomous region.

China also has built up substantial experience in running CANDU-type reactors. These are heavy-water models based on Canadian technology that are popular in Argentina, said Ma.
 
Back
Top Bottom