China Economy Forum

[TaiShang]

I was just reading some economists and investors, and the respect and awe they had for Chinese system of Economic Governance, has ebbed a bit.

People who were earlier totally bullish on China, are getting nervous, because Chinese stock markets have lost International Legitimacy which China was so desperately trying, to open up its financial accounts, invite global investors with truck loads of money into the market. And for a while many investment banks and hedge funds were considering moving part of their wealth into China.

But, alas, China messed up its Stock Market. With majority of the market not trading, brutal regulator interventions, diktat to not sell stocks to big stock holders etc. The rules of the stock market are unclear, and totally haphazard.

Nothing unheardof, nothing extraordinary with China's intervention. The real economy is as strong as it was in the past. The only thing is the monumental change the economy is undergoing. It is painful and any "normal" government like Indian's would actually opt to choose the safe way and stick with the old rules that "presently" works. But China's government is just another beast, and does not take short term political cheap shots.

China's stock market has only one shortcoming: Inexperience because of being relatively young. But people do learn, as with government. Some things you just have to experience.

Investment banks and hedge funds leaving China better go to India or Japan.

***

Why single out China for market intervention?
2015-07-17 07:52

There has been a lot of talk recently about the Chinese government becoming involved in the country's stock market: An odd charge to level at China, to say the least. Just look at what takes place around the world. Indeed, it is in the so-called developed economies that we see the most frequent and most aggressive market intervention by governments.

The Bank of Japan is buying Exchange Traded Funds and real estate stocks on a large scale. Over the past year and a half, the BoJ has aggressively purchased the Nikkei index. These are operations that Japan's central bank has done regularly since the market implosion in 1989.

Also, the Japanese government has frequently instructed the national pension fund, the national social security fund and the postal savings fund, as well as private sector funds - such as the large insurance companies and the city banks - to do the same. The buying of ETFs and real estate stocks is part of the BoJ's quantitative easing program.

Besides, the Japanese central bank and other government investment pools are also buying into commercial real estate.

We have seen various government market operations in the Republic of Korea, Thailand, Malaysia and Singapore. Of course, 25 years ago, the Hong Kong Monetary Authority led the charge into the equity market, which speculators had pushed into a death spiral. So, as far as Asia is concerned, government intervention is neither new nor uncommon.

As for the rest of the world, one need only recall that former US secretary of the treasury Timothy Geithner, from 2009 till he resigned in 2013, never ceased to underscore that rising asset prices were a major objective of quantitative easing. While the US Federal Reserve was not directly buying equities, it was working assiduously to drive money into equity markets.

Remember also that US President Barack Obama, during a press conference in the spring of 2010, advised his fellow Americans - like Warren Buffet - that it was a good time to buy shares, emphasizing that the US government would do everything it could to support asset prices.

In October 1987, the BoJ aggressively bought US index futures during Asian trading hours - in Wall Street vernacular - to position the market for the opening, following the Oct 19 "Black Friday" crash on the New York exchange.

Later, it emerged that the operation was carried out at the request of the US Federal Reserve and Treasury. The two countries had apparently struck a swap deal over the weekend, so that the Japanese had all of the US dollars they needed for the operation.

In 2007 and 2008, France's institutional investor Caisse de D��p?t, on the instructions of the ��lys��e Palace, where the chief of staff was the former head of the French Treasury, bought the French stock market index, as well as the underlying shares, in order to support the market that was crashing.

In the summer of 2007, the Bank of Canada became the only buyer in the asset-backed securities market that had imploded and risked wiping out the pension assets of millions of people.

There are several such examples, including the UK lifeboat operation in the 1970s. One also remembers that in 2001 and 2002, several European Union equity markets simply shut down for a few days at the peak of market turmoil.

Thus, what we are seeing today in China is not exceptional. Perhaps it is being done in a clumsier manner than in some other places, but it has been a common practice across the world.

China's stock exchanges are less than 20 years old. More mature economies have simply had more experience of market crashes. As a result, their governments have developed a larger panoply of instruments to intervene in the markets and have done so with greater finesse.

Kenneth S. Courtis is chairman of Starfort Holdings and managing partner of Courtis Global & Associates.

The Globalist

 

[cirr]

It seems that another Chinese chipmaker，Leadcore，is growing by leaps and bounds。

Leadcore Technology marches towards 14nm process

OFweek | Posted: 24 Jul 2015, 11:54

In the mobile chip field, Qualcomm, MediaTek and Samsung have always been the best players, yet Hisilicon, Spreadtrum, Datang Leadcore and other Chinese chipmakers are also moving forward steadily under the pressure from those giants. Datang Telecom's subsidiary Leadcore Technology Co., Ltd held a Product Communication Conference in Beijing on July 23. What we needed to be concerned most was the LC1860 processor launched last year.

Adopting 28nm process technology, the processor supports five modes including LTE-TDD, LTE FDD, TD-SCDMA, WCDMA and GGE. The 28nm may not be very impressive, but LC 1860 may continue to survive in the mobile market for the next four to five years since the golden period of 4G will at least last till 2020, claimed the company.

The chip was come into market in the third quarter of 2014, which was the first public commercial 28nm 4G chip. It is estimated that the shipment of mobile devices equipped with LC1860 will exceed 10 million units by the fourth quarter of this year.

Leadcore has now been making preparation for LTE Cat9/10 eight-core 64-bit chips and it will adopt 14nm process technology as well, said Qian Guoliang, president of Leadcore Technology. Undoubtedly, 14nm, LTE Cat9/10 and eight core feature a top processor, yet it is still unknown when the company will unveil this chip.

Leadcore Technology marches towards 14nm process - OFweek News

5.1 million units of the Leadcore powered Xiaomi Redmi 2A sold in its first three months

Posted: 23 Jul 2015, 07:48, by Alan F.


The Xiaomi Redmi 2A has sold 5.1 million units in three months

Back on March 31st, when Xiaomi was in the midst of celebrating its fifth birthday, the company introduced the Xiaomi Redmi 2A. Similar to the Xiaomi Redmi 2, the manufacturer made the handset even more affordable by replacing the Snapdragon 410 SoC with the Leadcore LC1860 chipset. The latter comes with a quad-core 1.5GHz CPU and the Mail T628MP2 GPU. With a price cut dropping the device to the equivalent of $80 USD, the Redmi 2A has been racking up huge sales.

This morning, Xiaomi CEO Lei Jun took to his Weibo page to announce that 5.1 million units of the Redmi 2A have been rung up in its first three months of existence. Not bad, considering that Xiaomi has not yet rolled out the phone to all of its international markets.

The Xiaomi Redmi 2A is equipped with a 4.7-inch screen with a 720 x 1280 HD resolution. That works out to a pixel density of 312ppi. The aforementioned Leadcore LC1860 chipset is found under the hood. 1GB of RAM is inside along with 8GB of expandable storage. The rear camera weighs in at 8MP and there is a front-facing 2MP snapper for selfies and video chats. Keeping the lights on is a 2200mAh battery, and Android 4.4.4 is pre-installed with MIUI 6 running on top.

The Redmi 2A won't be confused with the highly spec'd Xiaomi Mi Note Pro. But more than 5 million people have purchased a serviceable phone with hardly a dent made to their wallet or purse.

5.1 million units of the Leadcore powered Xiaomi Redmi 2A sold in its first three months

 

[LowPost]

China stocks in sharpest drop since 2007

BEIJING, July 27 (Xinhua) -- Chinese shares slumped on Monday as investors unnerved by weak economic data dumped their shares to lock in profits following last week's rally, sinking the benchmark index into the worst single-day loss in eight years.

The benchmark Shanghai Composite Index plunged 8.48 percent to close at 3,725.56 points, in the sharpest daily drop since Feb. 27, 2007. The smaller Shenzhen Component Index fell 7.59 percent to close at 12,493.05 points.

Nearly 2,000 shares fell by the 10-percent daily limit.

The plunge ended a six-day rally following government's concerted effort to arrest the freefall that wiped nearly a third off the value of the market since mid-June.

"Historically, it takes time to restore market confidence after such a long period of sharp decline. The market is expected to linger at the bottom for a while before it can stage a sure rally," said China Southern Asset Management Co., Ltd in a research note.

The sharp drop came amid fresh data that showed China's growth continues to face strong headwinds.

The National Bureau of Statistics said on Monday that profits at major Chinese industrial firms dropped 0.3 percent year on year in June, down from a 0.6-percent growth posted in May.

The preliminary Caixin China Manufacturing Purchasing Managers' Index (PMI) released on Friday retreated from 49.4 in June to 48.2 in July, the lowest since last April.

Monday's sudden fall was also a result of investors choosing to lock in profits following last week's rally of around 20 percent, which was a bit "steep," China Southern Asset Management Co., Ltd. said.

Market sentiment has become increasingly fragile following the drastic ups and downs in the previous weeks. The market considers 4,000 points an "important psychological mark" and risks are believed to escalate as the Shanghai index rises above it.

The stock market is also under external pressure from factors such as the increasing likelihood of the United States hiking its interest rates soon, which would probably entice investors to move money from the China market, said Wang Han, an analyst with Industrial Securities.

After the massive sell-off since mid-June, the Chinese government has unveiled a slew of measures to prop up the market, including reducing the number of new shares to avoid a shares glut, a police crackdown on short-selling and a six-month ban on big shareholders selling stocks.

However, it seems the government orders may not have been carried out by everyone.

Major shareholders in five listed companies including Shandong Yanggu Huatai Chemical Co.,Ltd. are under investigation for allegedly selling company shares, the China Securities Regulatory Commission said over the weekend.

While some economists hailed the government's move to stem risks to the broader economy, some others suggest more market-oriented measures be taken as they believe government intervention is only delaying the inevitable.

Before the market took a downturn on June 12, the Shanghai composite had risen by 152 percent since July 2014 and nearly 60 percent since the beginning of the year, galloping far ahead of economic fundamentals during the period.

Regarding the impact of the recent stock market rout, global rating agency Moody's said in a latest report that the turbulence will not have a major spillover effect on China's real economy.

"The direct impact from heightened volatility in China's equity market on financial sector output growth will be limited, while the indirect effects of market uncertainty on consumer spending, employment and corporate investments will be similarly muted," says Michael Taylor, a Moody's managing director and chief credit officer for Asia Pacific.

Echoing Moody's, rating agency Fitch also reckons the market volatility does not pose a systemic risk to the nation's real economy or financial system, with Chinese banks having relatively little direct exposure to stocks.

http://news.xinhuanet.com/english/2015-07/27/c_134452037.htm

 

[Solomon2]

​

Pranab Bardhan is a professor at the University of California, Berkeley. His most recent books are Globalization, Democracy and Corruption: An Indian Perspective and Awakening Giants, Feet of Clay: Assessing the Economic Rise of China and India.

JUL 16, 2015
The Contradictions of China’s Communist Capitalism

BERKELEY – The recent dizzying plunge in the Shanghai and Shenzhen stock exchanges has posed a unique test for China’s Communist rulers. So long as the markets were rising, the paradox of vigorous capitalist development overseen by the world’s largest and strongest Communist party confounded only academics and old-school Marxists. As the Chinese Communist Party elite and their relatives, foreign financial institutions, and some Chinese small investors (enabled by margin lending) made money on stocks, no one bothered to comprehend the mutant creature they were milking.

But now, as the realization sinks in that Chinese stock prices will not keep rising indefinitely, the CCP is taking desperate, if clumsy, measures to control the correction. All new initial public offerings have been halted, and much trading has been curtailed; the central bank has been asked to help the China Securities Finance Corporation induce investors to buy shares and thus stabilize the market. Indeed, even the country’s sovereign wealth fund has gotten into the act.

But, unlike in other capitalist economies, money is not the only tool at the authorities’ disposal. If your brokers in China advise you to sell shares, they must be careful not to appear to be rumormongers, subject to official punishment. And there are reports that sales of large holdings may trigger investigations by the authorities. Causing public disorder or financial instability can be a serious offense in China, where conspiracy theories about foreigners’ efforts to undermine the economy abound.

What Chinese officials desire is a capitalist stock market without the possibility of large losses that can shake confidence in the CCP’s credibility and control. But that is a market that no one has yet invented.

The spectacle of a communist regime trying to jack up a casino-like capitalist market is just one of the many contradictions that have been accumulating in almost every corner of China’s economy and politics. And now, their weight is perhaps becoming too heavy for the Party hierarchy to bear.

Indeed, the composition of the CCP is itself a contradiction. The revolutionary party of peasants and workers is now dominated by businessmen, college students, and professionals. One-third of the people listed in the Hurun Report, the Shanghai-based monitor of China’s wealthiest people, are Party members. The average wealth of the richest 70 members of the National People’s Congress, China’s parliament, far exceeds $1 billion. (The richest 70 members of India’s parliament or even the US Congress, both now controlled by right-wing political parties, are substantially less wealthy.)

Of course, President Xi Jinping’s recent drive against corruption high and low has made many Communist Party plutocrats jittery. But questions abound as to whether the corruption charges being brought against the so-called “tigers” are a fig leaf for an old-fashioned purge of Xi’s rivals in the Party and the military.

Ordinary Chinese generally support the anti-corruption drive; it is they who usually initiate protests and point fingers at dishonest officials. But, if such protests attract too much attention, it is more likely that they will be quashed and their leaders repressed than that the corruption will be stopped. In 2008, for example, following the Sichuan earthquake, thousands of children died when their shoddily built schools collapsed. For a while, tales of corruption in the schools’ construction dominated even the official news. In the end, however, it was the protesting parents and teachers of the dead children who were detained and harassed by the state.

What the CCP refuses to recognize is that corruption cannot be rooted out as long as the Party maintains its monopoly on political power; with no organized opposition or functioning civil-society institutions, officials will continue to use their positions of public authority as a vehicle to generate personal wealth. The Third Plenum of the 18th Party Congress gave primacy to the principle of market competition; but, as a senior Chinese banker commented in a related context some years back: “It’s quite hard to compete when you’re playing against the referee.”That observation extends to the rule of law and constitutionalism. Under Xi, the CCP has repeatedly insisted that the rule of law is a “core socialist value” and has pledged to promote the authority of the constitution. Yet the rule of law in the Party’s eyes is a law that it dictates, interprets, and enforces. Chinese citizens’ references to the constitution (especially article 35, which guarantees freedom of speech, press, assembly, and association) and constitutionalism in general are routinely censored, and lawyers who cite the constitution in court are frequently detained.

Mao famously speculated on the nature of contradictions in a 1937 essay: “The law of contradiction in things, that is, the law of the unity of opposites, is the fundamental law of nature and of society.” One wonders, though, if even he could have grasped, much less managed, the contradictions of communist capitalism.

• 
  
  Read more at The Contradictions of China’s Communist Capitalism by Pranab Bardhan - Project Syndicate

 

[TaiShang]

China-Made Largest Containership Delivered

On July 27, after 490 days’ manufacturing, CMA CGM group in Marseilles, France, received a gigantic delivery of a containership named CMA CGM Vasco de Gama from China State Shipbuilding Corporation (CSSC).

The 18,000 TEU containership is the largest one China has ever built. Designed by CSSC’s No. 708 Research Institute, CMA CGM Vasco de Gama is 399.2 meters in length, 54 meters in width, and 30.3 meters in molded depth. It is the size of over 4 standardized football fields, and has a the transport capacity of over three 18,000-ton bulk carriers. It has a service speed of 22.2 knots.

China-Made Largest Containership Delivered - People's Daily Online

 

[TaiShang]

University ‪#‎graduates‬ in ‪#‎HongKong‬ have been paid less and less over the past two decades. http://bit.ly/1I0bb1p

 

[cirr]

Posted at: Jul 25 2015 7:38PM

China working on world's largest N-power expansion

Beijing, July 25

China began working on a new atomic power plant, taking the number of its nuclear power units under construction to 26 and making it the largest expansion of nuclear power in the world, state media reported today.

The construction of the sixth unit of the Hongyanhe plant in Liaoning province began yesterday.

This is the second nuclear plant under construction this year since the fifth unit of the Hongyanhe plant which started on March 29, state-run People's Daily reported.

The new plant will take the number of China's nuclear power units under construction to 26, perceived as number one in scale in the world.

Together with Unit 5 of the Hongyanhe Nuclear Power Plant, the construction of the new unit was part of the implementation of China's energy development strategy action plan in the field of nuclear power.

In the face of the current serious environmental governance situation, China has seen the development of nuclear power as one of the main solutions to achieve energy transformation and environmental improvement.

As per the "strategic action plan 2014-2020" announced by the Chinese government, the installed nuclear power capacity will reach 58,000 megawatts by 2020.

According to earlier reports, once all six units are in operation, the Hongyanhe plant will generate around 45 billion kWh of electricity annually, avoiding the need to burn more than 16 million tonnes of coal for power generation and the resulting emissions of some 40 million tonnes of carbon dioxide.

China had halted the construction of its nuclear power plants following the 2011 Fukushima nuclear disaster in Japan and resumed it last year after a review of safety aspects.

China is also aggressively marketing its new 1,100 MW nuclear technology abroad. Pakistan and Argentina have already opted for it. — PTI

China working on world's largest N-power expansion

 

[cirr]

Aquatic products from this aquafarm are said to be especially tasty。

Gross generation of China's biggest floating PV project exceeds 1 billion kWh

OFweek | Posted: 30 Jul 2015, 11:13

(OFweek) – On July 29, the gross generation of China’s largest floating solar PV power base located in Jiangsu Province surpassed 1 billion kWh. With a total investment of RMB 5 billion, the project occupies 600 mu of aquiculture areas and the total PV capacity is 500MW. It can generate 620 million kWh of electricity annually, equivalently saving 18,500 tons of standard coals and reducing 45,200 tons of carbon dioxide emission.

Gross generation of China's biggest floating PV project exceeds 1 billion kWh - OFweek News

 

[TaiShang]

AN OVERVIEW OF CURRENT SITUATION IN SOLAR ENERGY [PHOTOVOLTAICS]

The current situation is that China has dominated the manufacturing of solar panels. With 2.8GW of world production last year, China produced at least 1.3 GW mostly for export. China only started to join this business in 2004 but has quickly ramped up her production to the point America cheated by imposing a heavy tariff on China's imports. No matter, China insiders are not trying to out-install everyone else because this generation of photovoltaic cells are expensive compared with the thin-layer next generation cells.

Yet in 2014 China was the largest installer in the world while maintaining the largest export of this product class. The next generation thin layer and flexible low cost higher efficiency ones are here and you will see China installing a lot more GWs. As for 2015 China is slated to install about 14GW himself which means he will soon have the largest installed base.

This is one glimpse at the details of the green technologies that together China in 2014 was the world's largest investor.

 

[cirr]

Spreadtrum Chipset is Adopted for Samsung GALAXY Tab E Tablets

By PRNewswire

July 26, 2015 8:00pm

Spreadtrum's quad-core WCDMA chipset shipping to Samsung GALAXY Tab E tablets

SHANGHAI, July 26, 2015 /PRNewswire/ -- Spreadtrum Communications ("Spreadtrum"), a leading fabless semiconductor company in China with advanced technology in 2G, 3G, and 4G wireless communication standards, today announced that its quad-core mobile chipset, the SC7730SE has been adopted by Samsung's tablet products that combine advanced features with affordability and portability, designed to launch into India and European markets.

The SC7730SE, is now shipping in the Samsung GALAXY Tab E tablets, which are slim, stylish and 9.6" models available with WCDMA (SM-T561 series) and Wi-Fi (SM-T560 series) features. These tablets, designed with Spreadtrum's 1.3GHz quad-core processor, feature a 9.6" TFT LCD display with Android 4.4 Kitkat OS, a 5 MP rear camera and 2 MP front-facing camera, 8GB internal memory and 1.5GB RAM, a Micro SD slot and a built-in battery of 5000mA.

Dr. Leo Li, Spreadtrum's chairman and CEO, commented, "We are very proud to partner with Samsung with the launch of their new products based on our quad-core chipsets again. The designs of the GALAXY Tab E tablets meet the needs of consumers of the Indian and European markets, who are looking forward to multiple entertainment features and affordability with Samsung quality and design."

Read more: Spreadtrum Chipset is Adopted for Samsung GALAXY Tab E Tablets | Benzinga

China IC backend firms reportedly obtain orders from Qualcomm, MediaTek

Cage Chao, Taipei; Jessie Shen, DIGITIMES [Wednesday 29 July 2015]

Major China-based IC backend houses including Jiangsu Changjiang Electronics Technology and Nantong Fujitsu Microelectronics have obtained orders from Qualcomm and MediaTek, which tend to support the China government's efforts to boost development of the local IC industry, according to industry sources.

Jiangsu Changjiang will start fulfilling regular orders from both Qualcomm and MediaTek in the third quarter of 2015, said the sources.

Qualcomm has made announcements about its partnerships with China's local foundry Semiconductor Manufacturing International (SMIC) and fabless chipmaker Allwinner Technology.

In addition, Jiangsu Changjiang has secured orders from MediaTek, and the two companies are likely to jointly announce some form of partnership in August, the sources noted. MediaTek will also be working with another China-based backend firm Nantong Fujitsu Microelectronics, the sources said.

MediaTek has reportedly placed orders with SMIC, and is teaming up with China's touchscreen controller IC supplier Goodix Technology.

Qualcomm and MediaTek are currently the world's largest mobile chip suppliers.

China IC backend firms reportedly obtain orders from Qualcomm, MediaTek

 

[TaiShang]

Spreadtrum Chipset is Adopted for Samsung GALAXY Tab E Tablets

By PRNewswire

July 26, 2015 8:00pm

Spreadtrum's quad-core WCDMA chipset shipping to Samsung GALAXY Tab E tablets

SHANGHAI, July 26, 2015 /PRNewswire/ -- Spreadtrum Communications ("Spreadtrum"), a leading fabless semiconductor company in China with advanced technology in 2G, 3G, and 4G wireless communication standards, today announced that its quad-core mobile chipset, the SC7730SE has been adopted by Samsung's tablet products that combine advanced features with affordability and portability, designed to launch into India and European markets.

The SC7730SE, is now shipping in the Samsung GALAXY Tab E tablets, which are slim, stylish and 9.6" models available with WCDMA (SM-T561 series) and Wi-Fi (SM-T560 series) features. These tablets, designed with Spreadtrum's 1.3GHz quad-core processor, feature a 9.6" TFT LCD display with Android 4.4 Kitkat OS, a 5 MP rear camera and 2 MP front-facing camera, 8GB internal memory and 1.5GB RAM, a Micro SD slot and a built-in battery of 5000mA.

Dr. Leo Li, Spreadtrum's chairman and CEO, commented, "We are very proud to partner with Samsung with the launch of their new products based on our quad-core chipsets again. The designs of the GALAXY Tab E tablets meet the needs of consumers of the Indian and European markets, who are looking forward to multiple entertainment features and affordability with Samsung quality and design."

Read more: Spreadtrum Chipset is Adopted for Samsung GALAXY Tab E Tablets | Benzinga

Wow! That's a great endorsement of China's mobile chipset technology and production capacity.

 

[cirr]

Wow! That's a great endorsement of China's mobile chipset technology and production capacity.

Firms providing backend services such as packaging and testing are also starting to win orders from major players like MediaTek and Qualcomm（see above）。Talking about the complete supply（value）chain。

 

[Bussard Ramjet]

Wow! That's a great endorsement of China's mobile chipset technology and production capacity.

I am being very fair Taishang, and no doubt it is indeed very good progress, but it is not an endorsement yet, especially when Companies are trying to stay in the China market by collaborating with Chinese Government in building the Chinese IC industry.

I think the best fabless company in China is Hi Silicon, which is almost at par with Media Tek, and could very easily overtake Qualcomm. Yet, speadtrum is more politically connected, and is being overseen directly by Tsinghua and Central Authorities. Just in last year there have been so many mergers etc.

China is playing its strength by veiled threats of market access.

 

[Jlaw]

University ‪#‎graduates‬ in ‪#‎HongKong‬ have been paid less and less over the past two decades. http://bit.ly/1I0bb1p

This is not just a trend in HK. In Canada, it's the same thing. My father worked as a warehouse worker. Back in 1988 he was paid about $42k/year. Good luck getting this amount as a warehouse worker now.

Job market quality in decline with lower wages, higher self-employment - The Globe and Mail

 

[Keel]

China-Made Largest Containership Delivered

On July 27, after 490 days’ manufacturing, CMA CGM group in Marseilles, France, received a gigantic delivery of a containership named CMA CGM Vasco de Gama from China State Shipbuilding Corporation (CSSC).

The 18,000 TEU containership is the largest one China has ever built. Designed by CSSC’s No. 708 Research Institute, CMA CGM Vasco de Gama is 399.2 meters in length, 54 meters in width, and 30.3 meters in molded depth. It is the size of over 4 standardized football fields, and has a the transport capacity of over three 18,000-ton bulk carriers. It has a service speed of 22.2 knots.

China-Made Largest Containership Delivered - People's Daily Online

Can this vessel put us into number 2 of the world in terms of tonnage and TEUs that it can carry?

The world's number one vessel, CSCL Globe

World's largest container ships sets off on maiden voyage from China | Daily Mail Online