China Economy Forum

[sweetgrape]

Chinese Company captures the key technologies of aero-engine fan blades
Chinese Company captures the key technologies of aero-engine fan blades | China's Great Science and Technology

2012-06-26 — Recently, Chinese Wuxi Turbine Blade Co., Ltd. (hereinafter referred to as WTB company) Deputy General Manager Shao Ran makes a presentation to introduce the situation the company is actively developing the aero-engine fan blades.

According to Mr. Shao, WTB’s main power plant leaves and air forging process development and manufacturing, energy and aviation sectors leading domestic and world-renowned high-end power component suppliers. Large-scale power station turbine blades on the domestic market share of more than 80%, with the large leaves of the million-grade ultra-supercritical steam turbines, millions of nuclear power generating units process development and manufacturing capabilities. At the same time, based on the domestic market, actively develop high-end aero engine fan blades, to enable them to substitute foreign products. Its new blade production base was in 2011, full production, annual output value has been achieved 10 billion yuan.

In the field of energy, the turbine has become a strategic supplier of the three Electric Company, GE, Toshiba, Mitsubishi, Siemens, and many of the world famous Electric Company blades suppliers. Billion total investment of 20 million-grade nuclear large blade manufacturing base and air forging project, has completed the installation and commissioning of the 35,500 tons clutch screw press of the world’s top equipment. Foreign companies explicitly prohibit the transfer of aircraft engine fan blades, high temperature blades and other high-end manufacturing technology to China, so China must be based on independent research and development.

It is understood that the aero-engine and gas turbine manufacturing capacity and level also reflects the core competitiveness of the manufacturing sector of a country, the strategic high ground for international competition. Therefore, high-tech state-of-the-art technology for aero-engine manufacturing is a high degree of monopoly of foreign companies on the relevant core technology tight blockade.

Over the years, China attaches great importance to the aero-engine research and development, production, after following the United States, Britain, Russia, France, the world’s first five countries independently developed by the aircraft engine, but in developed countries compared with Western Airlines, about one generation behind to generation and a half.

 

[Martian2]

Why China > Soviet Union - The Daily Beast

"Why China > Soviet Union
by Ryan Prior Jun 26, 2012 12:30 PM EDT

Members of the Guards of Honour of the Three Services of the Chinese People's Liberation Army march during a training session at a barracks in Beijing on July 21, 2011 (LIU JIN / AFP / Getty Images)

This week Michael Cembalest, chairman of market and investment strategy at JP Morgan, published a research letter with a graph showing the history of the world by GDP. It inspired Derek Thompson at The Atlantic to write a great series of posts. The charts show that population was the primary determinant of prosperity in pre-industrial society, but after the 1800s, productivity became significantly more important:

Before the Industrial Revolution, there wasn't really any such thing as lasting income growth from productivity. In the thousands of years before the Industrial Revolution, civilization was stuck in the Malthusian Trap. If lots of people died, incomes tended to go up, as fewer workers benefited from a stable supply of crops. If lots of people were born, however, incomes would fall, which often led to more deaths. That explains the "trap," and it also explains why populations so closely approximated GDP around the world.
...
The first question I had when I first graphed the data is, How do India and China account for between 50% and 60% of the world economy for the first 1500 years AD? Until about 1800 when the Industrial Revolution sent productivity skyrocketing at an unprecedented pace, income growth was slow and and relatively even around the world. As a result, the regions with the biggest economies were basically just the regions with the biggest populations.

Even from just a cursory look at Cembalest's original chart, another interesting trend is visible:

Russia, which has a population approximately half of the U.S. (140 million), never rivaled U.S. GDP throughout the Cold War. China today boasts a greater share of world GDP than the Soviets ever did at their 1950s peak. And the Chinese share only shows signs of growing ever more.

Two important differences in the emerging U.S.-China rivalry as compared to the U.S.-Soviet one. 1.) The Chinese population is more than three times the U.S. population, while ours was double that of Russia. 2.) Chinese GDP is now booming as Soviet GDP never did."

 

[Martian2]

What's the most important aspect of the graph (see below) for China's annual disposable income during the last 30 years? Its growth is exponential and not linear. China's annual disposable income for 2020 will be huge!

----------

China's middle-class boom - Jun. 26, 2012

"The Rise of China
China's middle-class boom
By Annalyn Censky @CNNMoney June 26, 2012: 10:10 AM ET

Since 1980, yearly earnings for an average Chinese household multiplied ten times over.

NEW YORK (CNNMoney) -- As China's economy has exploded over the last 30 years, so too have the incomes and living standards of average Chinese people.

The average disposable income of urban Chinese households rose to around $3,000 per capita in 2010, according to an analysis of official government statistics by China Market Research Group. That means a typical family of three earns around $9,000 a year.

While that might not sound like a lot by U.S. standards, it's a boon for Chinese residents, who have seen their yearly earnings multiply tenfold since 1980.

Over the past 10 years alone, incomes have quadrupled. In 2000, the average income was just $760 per person.

Of course, incomes vary greatly from region to region, with most of the wealthier residents residing in the cities. In rural areas, the average disposable income drops to $1,000, but in China's largest cities like Shanghai, Beijing and Shenzhen, it's around $12,000 a year, per person."

 

[rcrmj]

What's the most important aspect of the graph (see below) for China's annual disposable income during the last 30 years? Its growth is exponential and not linear. China's annual disposable income for 2020 will be huge!

----------

China's middle-class boom - Jun. 26, 2012

"The Rise of China
China's middle-class boom
By Annalyn Censky @CNNMoney June 26, 2012: 10:10 AM ET

Since 1980, yearly earnings for an average Chinese household multiplied ten times over.

NEW YORK (CNNMoney) -- As China's economy has exploded over the last 30 years, so too have the incomes and living standards of average Chinese people.

The average disposable income of urban Chinese households rose to around $3,000 per capita in 2010, according to an analysis of official government statistics by China Market Research Group. That means a typical family of three earns around $9,000 a year.

While that might not sound like a lot by U.S. standards, it's a boon for Chinese residents, who have seen their yearly earnings multiply tenfold since 1980.

Over the past 10 years alone, incomes have quadrupled. In 2000, the average income was just $760 per person.

Of course, incomes vary greatly from region to region, with most of the wealthier residents residing in the cities. In rural areas, the average disposable income drops to $1,000, but in China's largest cities like Shanghai, Beijing and Shenzhen, it's around $12,000 a year, per person."

the government need to improve the imcome of lower-middle class population..however I dont know how they categorize $3000 as middle income group, as in my industrial area that door keepers are making more than that``we are paying $5500 on everage to those manual workers

 

[Holmes]

China's external debt highest since 1985
Wang Xiaotian, Asia News Network (China Daily) | World | Wed, 06/27/2012 1:00 PM

China's outstanding external debt in 2011 totaled more than $751 billion by the end of March, the highest since 1985, according to data released by the State Administration of Foreign Exchange on Tuesday.

The proportion of short-term debt also rose to a record high.

The total debt went up by 8.1 percent from the $695 billion three months earlier.

Outstanding medium and long-term debt stood at $193.6 billion, accounting for 26 percent of the total debt, while the short-term debt of $557.7 billion took up 74 percent, up by 2 percentage points compared with the end of 2011.

"Among the short-term debt, trade credit between enterprises and trade finance from banks together accounted for 75.11 percent, indicating that the surge in short-term debt is closely related to the rapid development of China's foreign trade in recent years," SAFE said in a statement.

In the first three months, China borrowed $9.3 billion in medium- and long-term external debt, down by 34.3 percent year-on-year.

"Dollar-denominated debt took up 77 percent of China's registered external debt, followed by euro debt, which made up 8.23 percent, less than 1 percentage point higher than three months earlier. Yen debt accounted for 7 percent," SAFE said.

China's external debt rose by $146 billion last year, or nearly 27 percent, adding to concerns over whether rising external debt might undermine China's fiscal position and cause economic damage.
China's external debt highest since 1985 | The Jakarta Post

 

[Martian2]

At Holmes, your post (#1010) failed to put China's debt in context.

While China's external debt at $751 billion seems like a lot to an Indian, it is less than 10% of Chinese $8 trillion GDP for this year. In other words, the external debt is insignificant.

Posting mindless information without putting it in context is a waste of time and misleading.

 

[sweetgrape]

Chinese Nuclear Science breakthrough: HI-13 tandem accelerator in safe operation of 100,000 hours
Chinese Nuclear Science breakthrough: HI-13 tandem accelerator in safe operation of 100,000 hours | China's Great Science and Technology

2012-06-27 — Reporter from the China Institute of Atomic Energy was informed that the safe operation of the China Institute of Atomic Energy, HI-13 tandem accelerator at 9:40 on June 18 of 100,000 hours. This indicates that the low-energy nuclear physics from weak to strong, forming a complete subject innovation system, and has made a large number of research results of the background of national needs and international advanced level.

Located at the China Institute of Atomic Energy, Beijing Tandem Accelerator Nuclear Physics, National Laboratory, is a low-energy nuclear physics research base in China. As the main equipment of the laboratory, HI-13 tandem accelerator built in 1986, twenty years for more than 50 research institutes at home and abroad hundreds of topics, from hydrogen to gold over 40 kinds of ion beam current, accumulated to provide The experimental beam over 80,000 hours. The CIAE researchers through the HI-13 tandem accelerator in the basic research of nuclear physics, nuclear technology, nuclear data research and the research areas of the single-particle effects of space microelectronic devices, a number of important international and national impact scientific research.

Beijing Radioactive Ion-beam Facilities (BRIF) is based on the existing HI-13 tandem accelerator. A new 100MeV, 200µA cyclotron and an isotope separator on line will be constructed on the upstream and a new superconducting linear booster will be built downstream to form an accelerator setup. Each accelerator can be used alone or jointly. The cyclotron will be used for neutron physics, radiation physics, biology medicine studies and isotope R&D and so on. The proton beam from the cyclotron can also be used to bombard target-source to produce radiation beams which can be injected into the tandem accelerator to get more energy for experiments.

Division of BRIF Project consists of 7 function sections，i.e. Quality Assurance Section, Planning & Contract Section, Comprehensive Management Section, Commissioning Management Section, Purchase and Supply Section, Construction Management Section, Technology Management Section. It also possesses 2 research and design Sections, i.e. Cyclotron Research Section, Accelerator Engineering Design Section.

The Division of BRIF Project now employs more than 60 employees, among whom 3 are research fellows and professorship senior engineers, 13 are associated research fellows and senior engineers ,Senior research fellow Zhang Tianjue is the present director of the Division, and senior engineer Zhang Pingfa is the Party Secretary.

On April 28, 2011, BRIF Project Started Construction.

 

[BigDaddyWatch]

Holmes post #1010

This is a non issue.

1. The total foreign debt is still about 10% of China's GDP.
2. For every dollar of foreign debt China has about 4 dollars of Forex reserves.
3. Most of the debt is incurred by businesses and not the state and won't cause any sovereign risks.
4. You should post the entire article and not just the parts that helps you're case.

PS here is the rest of the article that Holmes didn't bother to post.

Experts warned that regulators must watch fast-growing short-term liabilities.

The proportion of short-term external debt to the total also climbed to a record high of 72 percent as of Dec 31, in contrast to 68 percent in 2010 and 60 percent in 2009.

"Regulators should be alert to China's rapidly rising short-term external debt, as the proportion of 72 percent is well above the international alert level of 25 percent," said Li Chao, deputy head of SAFE, in December.

However, "the ratio of short-term debt to foreign exchange reserves stood at 15.75 percent, far below the globally recognized warning line of 100 percent," SAFE said earlier in March.

As of 2011, China's other external debt indicators all fell into the “safety” range, according to international standards, it said.

 

[shuttler]

At Holmes, your post (#1010) failed to put China's debt in context.

While China's external debt at $751 billion seems like a lot to an Indian, it is less than 10% of Chinese $8 trillion GDP for this year. In other words, the external debt is insignificant.

Posting mindless information without putting it in context is a waste of time and misleading.

Absolutely! They are clueless as usual!

And just China foreign exchange reserve is more than $3.3 trillion March 2012 which is more than 10 times india's!
Do I need to elaborate the credit ratings of the 2 countries?

 

[rcrmj]

At Holmes, your post (#1010) failed to put China's debt in context.

While China's external debt at $751 billion seems like a lot to an Indian, it is less than 10% of Chinese $8 trillion GDP for this year. In other words, the external debt is insignificant.

Posting mindless information without putting it in context is a waste of time and misleading.

wasting time is that inferior indian can only thing do...i have no idea what he is trying to prove```stupidity of his, i cant think of any other than that

 

[oct605032048]

China's external debt highest since 1985

LOL China's GDP highest since 1985 too.

 

[Splurgenxs]

China June official purchasing managers' index seen hitting 7-month lows

BEIJING: An official survey of China's factories likely showed activity fell to seven-month lows in June, compounding market concerns that the world's second-largest economy is stuck in a deeper and longer downturn than previously expected.

The median forecast of economists polled by Reuters indicated that China's official purchasing managers' index (PMI) would slip to 49.8 in June, down from 50.4 in May and the lowest since November's reading of 49.

A PMI reading below 50 suggests factory activity contracted, while a number above 50 points to an expansion in business.

A weaker outcome would add to fears that China's economy may cool further in the third quarter, dampening import demand. That would unsettle financial markets and raise doubts over whether China can expand its economy by 7.5 per cent in 2012 as planned.

"There's usually a seasonal decline in activity in June and the economy is still pretty weak," said Zhang Zhiwei, an economist at Nomura. "But we still expect industrial production to grow between 9-10 per cent (in June)."

A flash PMI published recently by HSBC suggested business conditions deteriorated further at Chinese factories this month, with the index falling to a seven-month low of 48.1staying below 50 for eight consecutive months.

Worryingly, the HSBC survey also showed the export orders sub-index skidding nearly three points to depths last seen in March 2009, when China was emerging from the last global financial crisis.

A sour PMI number would be the latest sign that China's once red-hot economy is quickly losing steam on the back of anaemic demand in the United States and crisis-stricken Europe, its two biggest export markets.

And despite one interest rate cut and two reductions in banks' reserve requirements this year, bank loans have only begun to pick up graduallycreating a further drag on growth.

Indeed, government advisers called on Beijing in June to further loosen monetary conditions by cutting interest rates and taxes for small companies to relieve their cost pressures.

The official PMI survey will be released on Sunday morning, with the final HSBC June reading expected on Monday.

China June official purchasing managers' index seen hitting 7-month lows - The Economic Times
China June official PMI seen hitting 7-month lows | Business | The Guardian

 

[KRAIT]

Spillover effect....

 

[Splurgenxs]

No matter the extent Napolionism in Chinese psyche ;the reality states, that there still slaves to western demand.

 

[Splurgenxs]

China June official purchasing managers' index seen hitting 7-month lows

BEIJING: An official survey of China's factories likely showed activity fell to seven-month lows in June, compounding market concerns that the world's second-largest economy is stuck in a deeper and longer downturn than previously expected.

The median forecast of economists polled by Reuters indicated that China's official purchasing managers' index (PMI) would slip to 49.8 in June, down from 50.4 in May and the lowest since November's reading of 49.

A PMI reading below 50 suggests factory activity contracted, while a number above 50 points to an expansion in business.

A weaker outcome would add to fears that China's economy may cool further in the third quarter, dampening import demand. That would unsettle financial markets and raise doubts over whether China can expand its economy by 7.5 per cent in 2012 as planned.

"There's usually a seasonal decline in activity in June and the economy is still pretty weak," said Zhang Zhiwei, an economist at Nomura. "But we still expect industrial production to grow between 9-10 per cent (in June)."

A flash PMI published recently by HSBC suggested business conditions deteriorated further at Chinese factories this month, with the index falling to a seven-month low of 48.1staying below 50 for eight consecutive months.

Worryingly, the HSBC survey also showed the export orders sub-index skidding nearly three points to depths last seen in March 2009, when China was emerging from the last global financial crisis.

A sour PMI number would be the latest sign that China's once red-hot economy is quickly losing steam on the back of anaemic demand in the United States and crisis-stricken Europe, its two biggest export markets.

And despite one interest rate cut and two reductions in banks' reserve requirements this year, bank loans have only begun to pick up graduallycreating a further drag on growth.

Indeed, government advisers called on Beijing in June to further loosen monetary conditions by cutting interest rates and taxes for small companies to relieve their cost pressures.

The official PMI survey will be released on Sunday morning, with the final HSBC June reading expected on Monday.

China June official purchasing managers' index seen hitting 7-month lows - The Economic Times

China June official PMI seen hitting 7-month lows | Business | The Guardian