China Economy: News & Discussion

Armand2REP

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That's why i said you don't have ability to judge the news, seems you are making Yes/No choice for any data about China, but the truth never be simple like this.

For example, Benz, Audi, BWM all report China as their biggest single market, each of them sold around 0.6 million cars in China on 2018, plus other luxury brands there are 2.8 millions luxury cars sold in China last year, which reflect how strong the China high income people is, and this volume is even bigger than USA (on contrast, 4 million cars totally sold in India in 2018).

At 2018,China's best selling car was VW's Lavida, with total 0.5 million sales with around USD 20,000 per each And India is Maruti Suzuki Dzire with 0.26 million with USD 9,000 per each; China's USD 9,000 car with best selling was Wuling Hongguang, with 0.47 million sales...

Those above data proved that China already been the biggest consuming market in the world, since the consumer's data are always accurate than government's estimation with less manipulation...

Again, I really don't care about you believe or not, u can fully enjoy yourself ^_^
The rich getting richer in China doesn't bode well for the general economy. It signals higher levels of corruption and disproportionate distribution of wealth. Looking at foreign car brands to China, American brands are down 25%, German brands 5%, Korean brands 12% which all signal the collapse of the Chinese automotive sector whose own brands are down 24%.
 

rockdog

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The rich getting richer in China doesn't bode well for the general economy. It signals higher levels of corruption and disproportionate distribution of wealth. Looking at foreign car brands to China, American brands are down 25%, German brands 5%, Korean brands 12% which all signal the collapse of the Chinese automotive sector whose own brands are down 24%.

Yep, that's the reply i was expecting for ^_^; i didn't bring the auto sales data on 2018 and waited your ill-judgement, now it comes.

All top 10 luxury brands on 2018 were increased



The only decreased brand were: Jaguar & Land rover;

The rich getting richer in China doesn't bode well for the general economy. It signals higher levels of corruption and disproportionate distribution of wealth.

BTW the luxury brands now are not big deal for Chinese mid class, it doesn't mean "rich getting richer", just means mid class didn't suffer the growth slow down but the income still satisfied, this level of market is almost same amount of India's total auto sales amount...



Looking at foreign car brands to China, American brands are down 25%, German brands 5%, Korean brands 12% which all signal the collapse of the Chinese automotive sector whose own brands are down 24%.
Ur data is wrong

The Germany VW group increased 0.8% in China. GM down to 8% ...


which all signal the collapse of the Chinese automotive sector whose own brands are down 24%.
Geely increased 22.5%, Shanghai Auto Group increased 29.2% ...
Some shitty Chinese brands sank...

Plus the EV type increased 88.5% to 1 million cares from 2017 to 2018 ... Which 50% of world sales...
Most of them are Chinese brands.

Ur conclusion is wrong.

I think i stop here, don't want to waste on you. enjoy yourself

Still those data are shown that the China already been the biggest consuming market than US, and the purchasing power still expanding....
 
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smooth manifold

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China has the highest number of World Heritage Sites, with 55 entries, followed by Italy


China's ancient Liangzhu Archaeological Site was declared a World Heritage site by UNESCO's World Heritage Committee during its 43rd session in Baku, the capital of Azerbaijan, on Saturday.

The site, located in Yuhang District of Hangzhou City, east China's Zhejiang Province, showcases the Chinese civilization of prehistoric rice agriculture that existed between 3300 B.C. and 2300 B.C.

Spanning about 14.34 square kilometers (1,434 hectares) on the plain of river networks at the north foot of southeast China's coastal hilly region, the site includes the archaeological remains and unearthed cultural relics of the Liangzhu Ancient City and an environment of wetland.

With this new inscription, the World Heritage List now includes 55 properties – 37 cultural, 14 natural and four mixed items – across China, the highest in the world.

Among them are the recently added natural site, Migratory Bird Sanctuaries along the Coast of the Yellow Sea-Bohai Gulf (Phase I), and the last World Cultural Heritage Site, Kulangsu – a historic international settlement inscribed two years ago that covers an island in Xiamen in southeast China's Fujian Province.




Note: this overview lists only countries with ten or more World Heritage Sites.

  • Purple: nations with 50 or more heritage sites
  • Brown: nations with 40 to 49 heritage sites
  • Light brown: nations with 30 to 39 heritage sites
  • Orange: nations with 20 to 29 heritage sites
  • Blue: nations with 15 to 19 heritage sites
  • Green: nations with 10 to 14 heritage sites




https://news.cgtn.com/news/2019-07-...SCO-World-Heritage-Site-I6mabihpok/index.html

https://en.wikipedia.org/wiki/World_Heritage_Sites_by_country
 

Armand2REP

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China’s tech sector faces ‘hangover after the party’, with trade war and economic slowdown hitting employment
  • Tech sector demand for new hires down 25 per cent in first quarter from a year earlier, while jobs seekers up 37 per cent, meaning demand outpaces supply
  • Baidu, Tencent and JD.com are all ‘optimising’ their workforces, as analysts point to a sector in decline after years of expanding at an unrealistic pace
He Huifeng
Published: 7:45pm, 5 Jul, 2019

Once a booming industry that offered dream jobs to China’s young talents, China’s tech sector is now waking up to the sobering reality. Experts say it is time to focus on profitability, rather than the wild expansion of previous years, as China’s economic growth slows and
the trade war
with the United States hits sentiment and investment.
Since late last year, the tech sector has seen many lay-offs, reports of cancelled bonuses, and most tellingly of all, a sharp decline in demand for new hires. It is a far cry from the years between 2015 and 2017, when the online and e-commerce sectors were the top industries in the China Labour Market Index, an indicator of job market activity co-developed by the Renmin University of China and job site Zhaopin.

But from the start of 2018, the index has fallen for five consecutive quarters. In the first quarter of this year, the latest available report, tech’s recruitment demand was down 25 per cent from the previous quarter, while the number of jobseekers rose by 37 per cent.

In Shenzhen, home to tech giants like Huawei and drone manufacturer DJI, Yang has seen demand for new hires among his tech clients drop by 30 to 40 per cent this year. And in an industry where job hopping to get a better position and salary was common, workers are now content to hold onto their current positions.
A Beijing-based headhunter, focused on internet firms, said tech companies, including major ones like Kuaishou, one of China’s leading video sharing platforms, had stopped recruiting through her firm since the end of 2018.



Companies like Baidu have been ‘optimising’ their workforces, a sign that hiring may be slowing further in China’s tech sector. Photo: Reuters

As well as freezing headcounts, big tech firms have opted to “restructure” operations to improve efficiency, which means shutting down loss-making departments and trimming back those that were expanding too fast. This has led to a series of lay-offs. Baidu, Tencent and JD.com have all announced staff “optimisation” measures and culls of expensive senior managers in favour of “younger talent”.

Earlier this year, New York-listed NetEase,a Chinese tech giant operating across multiple verticals, slashed headcount at its e-commerce unit Yanxuan, its agriculture arm Weiyang, and its education technology unit, according to Chinese financial magazine Caijing.

In February, ride-hailing giant Didi Chuxing decided to cut 2,000 jobs. But the latest big lay-off came when Beijing-based second-hand car start-up Renrenche announced last month that it planned to cut up to 60 per cent of its staff, its second round of lay-offs this year alone.

The employment situation is exacerbated by the lack of financing options for small tech firms and start-ups. Erstwhile generous investors have tightened their belts, meaning that in the first half of this year, there was 37.2 billion yuan (US$5.4 billion) in successful financing, half the amount of the same period last year, according to a report from consultancy EO Intelligence.


China’s weakening tech job market, stems from a number of factors, including a slowing economy and the ongoing trade war.Brock Silvers, Kaiyun Capital

In June, a survey by 36Kr, a website tracking start-up fundraising, found that one-third of entrepreneurs said they had to approach more than 100 investors before they obtained sufficient financing.

“China’s weakening tech job market stems from a number of factors, including a slowing economy and the ongoing trade war. But small business financing costs are also rising,” said Brock Silvers, managing director of Kaiyuan Capital, a Shanghai-based private equity fund.

“Investors are also increasingly confronted by poor performance from prior investment rounds. An excessive exuberance had allowed many Chinese tech firms to focus less on profitability, and investment performance suffered. Now, in a slowing economy and with less friendly financing options, China’s tech sector may be forced into a bit of belt-tightening.”

The case of Shenzhen Costar Smart Tech, once a star of China’s network and communication sector, is instructive. Founded in 2004, Costar, with a 1,000-strong workforce and 20,000 square metre (215,278 square feet) plant in Shenzhen’s Baoan district, was once listed on the New Third Board, a Chinese equities exchange.


China’s tech sector is dealing with a “hangover” from an over-exuberant period of growth, analysts said. Photo:

However, local suppliers have been protesting at its factory gates since Thursday, after the company ran up debts of up to 80 million yuan (US$11.6 million).

On Friday, Costar posted a notice to its 1,000 employees saying the factory would officially shut down due to declining profits. The staff would lose their jobs, and while the company is legally obliged to pay its workers compensation, the amount has yet to be confirmed.

Suppliers, however, have no such access to compensation. “Costar shut down the factory suddenly. It’s an absolute swindle of more than 200 mainland suppliers,” said Simon Song, a supplier who said suppliers are owed debts ranging from hundreds of thousands of yuan to several million.

“All the founders ran away. Our mainland suppliers have no way to contact the company. If the local authorities do not help us to reach Costar over the undischarged debts, many of us will also face capital failure and have to back-pay our workers,” Song said.

https://www.scmp.com/economy/china-...ctor-faces-hangover-after-party-trade-war-and
 

asianobserve

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China chip designers say Beijing goals impossible without US tech

"There are alternatives in China, but the gap in technology is too big," said an executive from one of China's leading artificial intelligence chipmakers, which relies on U.S. technology for chip design. "If we lose access to U.S. software or can no longer receive updates, our chip development will run into a dead end."

https://asia.nikkei.com/Business/China-tech/China-chip-designers-say-Beijing-goals-impossible-without-US-tech
 

Vijyes

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China chip designers say Beijing goals impossible without US tech

"There are alternatives in China, but the gap in technology is too big," said an executive from one of China's leading artificial intelligence chipmakers, which relies on U.S. technology for chip design. "If we lose access to U.S. software or can no longer receive updates, our chip development will run into a dead end."

https://asia.nikkei.com/Business/China-tech/China-chip-designers-say-Beijing-goals-impossible-without-US-tech
Unreasonable to quote this news of one specific chipmaker and extrapolate it to every chip maker. Chips come with its own architecture and low level language. It doesn't depend upon software in general. Also, updates of software is not a critical aspects as Chinese can develop their own chip software. This news is only specific to certain case and not applicable to other chip maker like phone or laptop chip makers
 

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Financial links between China and America deepen, despite the trade war

https://www.economist.com/leaders/2...hina-and-america-deepen-despite-the-trade-war

The two superpowers are at each other’s necks, but also in each other’s pockets

Trade war, tech war, new cold war or just plain decoupling: call it what you will, the confrontation between America and China has been bruising. Tariffs are up, exports down. Even as they resume trade negotiations, they talk of blacklisting each other’s firms. In the words of Henry Paulson, a former American treasury secretary, the danger is that an “economic iron curtain” will soon divide the world. All the more remarkable, then, that one crucial sector—finance—is bucking the trend. Financial links between China and the West have grown tighter since the trade war broke out. They are set to grow tighter still.

For years Western insurance firms, asset managers and brokerages have been allowed to own only minority stakes in local firms. Now China is giving foreign financial firms more leeway on the mainland. Since mid-2018 they have been able to apply for 51% control. On July 2nd Li Keqiang, China’s prime minister, said that financial firms would be allowed full control by 2020.

That is not the only sense in which financiers and trade negotiators exist in parallel universes. China is also making it easier for foreigners to buy into its markets. Since the start of 2018 they have ploughed $75bn into Chinese shares. In the same period they have pulled $8bn out of all other big emerging markets. In the next decade, Goldman Sachs estimates, $1trn will enter China’s bond market from abroad, putting it among the world’s top investment destinations (see article). All this is possible because China has not stopped foreigners from cashing out, despite the strict capital controls it imposes on its own citizens. As the rules have eased, stock and bond indices that investors mirror in their portfolios, such as MSCI’s equities benchmark, have added Chinese securities.

Helping Wall Street and the City of London do more business in China is not a popular cause there or in the West, but the implications for finance are profound. Firms like Morgan Stanley, Black Rock and Schroders which have long dabbled on the mainland must now decide whether to go for it. Some worry that they lack clout and connections. Few insurers, for example, relish a brawl with China Life, a state-run behemoth with 1.7m sales agents. Foreign banks’ assets in China have soared to $650bn, but still amount to less than 2% of the country’s total.

Nonetheless a few global firms have a good chance of building large Chinese businesses. HSBC, a London-based firm with roots in Asia, already makes three-quarters of its profits from Hong Kong and China. AIA, which was spun out of AIG, an American firm, is the leader among foreign life-insurers. Western asset managers have long records and global expertise that local firms do not. Over time, as Chinese savers seek to diversify, this could help them win market share.

China needs to make this opening count. Many Wall Street bosses have gone from Sinophiles to hawks in the past few years. So, tactically, China has a chance to win brownie points with America’s business lobby. That gain could be dwarfed by the benefits within the country itself. Western firms will push up standards in its immature but giant capital markets, a priority if it is to allocate capital more efficiently and get more out of its savings. And China needs foreign funding more than in the past—its current-account surplus has dropped from 10% of GDP in 2007 to less than 1% last year. Without a steady flow of capital into the country, there could be a destabilising fall in the yuan.



Some political figures in the West argue that financial links with China count as a betrayal. Steve Bannon, who was once President Donald Trump’s adviser, talks of removing Chinese companies from American stock exchanges. Marco Rubio, a hawkish Republican senator, has accused MSCI of channelling American cash to the Chinese Communist Party by including state-owned companies in its benchmarks.

In fact closer financial links could have a beneficial effect, which is why long tIme China-watchers like Mr Paulson back them so strongly. When Chinese firms have foreign shareholders or underwriters, their calculations change. They face tougher questions, as Alibaba, a Chinese e-commerce giant, is reminded on every earnings call. None of this will suddenly transform China into a free market but it will encourage its firms to be more open, to respond to market signals and to respect intellectual property. Chinese firms that use Western banks when they go abroad, as Huawei used HSBC, are less able to circumvent global rules on corruption and sanctions.

If America excludes China from the global financial system, China will eventually build an alternative to the dollar-based order that has dominated markets since 1945—which would then feed into a wider strategic rivalry. For the time being, despite the hostilities over trade and tech, China welcomes foreign investors and firms. That is to be celebrated. There is more to be gained from building connections than cutting
 

Armand2REP

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China has shown 'shortcomings' in bid to contain African swine fever: cabinet

JULY 3, 2019

BEIJING (Reuters) - China has shown shortcomings in some aspects of preventing African swine fever, and the situation remains complicated and severe, the country’s cabinet said on Wednesday.

The management of transporting live hogs is not strict enough, while there is insufficient capacity in testing for African swine fever virus in hog slaughtering, processing, and circulating procedures, China’s State Council said in guidelines on prevention and control of the pig disease.


The comments from China’s top administrative authority highlight the severe challenges the country faces as the highly contagious and deadly outbreak ravages the world’s biggest pig herd.

Local governments and ministries should promote large-scale pig farming and reduce the number of small pig farms to improve biosecurity levels in the sector, the State Council said in the document published on its website.


The government will provide production subsidies to large-scale pig farms in areas heavily affected by the disease, and encourage major consumption areas to expand pig production to improve self-sufficiency in supplies, the cabinet said.

China has reported more than 120 outbreaks of the deadly disease throughout all its mainland provinces and regions, as well as on Hainan island and Hong Kong, since it was first detected in the country in early August last year.

As many as half of China’s breeding pigs have either died from African swine fever or been slaughtered because of the spread of the disease, twice as many as officially acknowledged, according to some estimates.

https://www.reuters.com/article/us-...ain-african-swine-fever-cabinet-idUSKCN1TY15E
 

asianobserve

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Unreasonable to quote this news of one specific chipmaker and extrapolate it to every chip maker. Chips come with its own architecture and low level language. It doesn't depend upon software in general. Also, updates of software is not a critical aspects as Chinese can develop their own chip software. This news is only specific to certain case and not applicable to other chip maker like phone or laptop chip makers
It's an industrywide sentimeny in China.

A senior executive from Shanghai-based NextVPU, an AI chipmaker founded by former Advanced Micro Devices engineers, echoed his concerns. "Without updates from American software providers, China's push to develop its own chips will hit a wall," he told the Nikkei Asian Review.
The executives, like others quoted in this article, spoke on the condition of anonymity due to fears of upsetting Beijing, which has set a target for 70% of all chips used by Chinese industry in 2025 to be domestically produced.
But their views were backed up by industry experts and suppliers.
We would use whatever chip equipment and materials we have locally if their performances were good enough," said a manager from Semiconductor Manufacturing International Co., China's top contract chipmaker. "But we still need [American] equipment, materials, IPs and chip design software. It's not likely for any of the chipmakers in the world... to get rid of American vendors soon."


To be honest, Chinese chips are still less efficient than Intel's," said a senior sales director from Inspur, the world's third-largest server maker and the No. 1 in China. Companies handling the most sensitive processes, such as financial transactions, are also reluctant to trust China's nascent chip industry.
AMD has limited knowledge sharing with its Chinese joint venture partner, Tianjin Haiguang, in light of the moves and said it was "reviewing the specifics of the order to determine the next steps related to our joint ventures ... in China."
Intel, AMD's bigger rival, also ended its partnership with Beijing-backed mobile chipmaker Unisoc Communications earlier this year, Nikkei Asian Review reported. Previously, the two companies had planned to cooperate in 5G modem development.
Chip production in China -- including by foreign companies -- accounted for just 15% of the country's $155 billion market last year, according to IC Insights. The market research group is forecasting in-country production of just 20.5% by 2023.
Moreover, for high-end chips that are used for data centers and other sophisticated applications, Chinese companies still favor imported chips over domestic products. Not only do Chinese chips lag in performance but they cost significantly more -- sometimes as much as 50% more due to their limited production scale, said the executive of the leading AI chipmaker. This hesitation to use domestic chips made it difficult for Chinese developers to improve their technology.
But even with much-anticipated support from Chinese leaders, Guo is still cautious about whether Beijing will meet its ambitious 2025 targets. "China's chip industry is on the rise, but it still lags far behind Western peers," he said. "It will probably take us another decade to catch up."
https://asia.nikkei.com/Business/Ch...-say-Beijing-goals-impossible-without-US-tech
 

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China’s middle income claim causes uproar as Weibo users ask ‘why am I not that rich?’
  • Propaganda piece from the National Bureau of Statistics stirs up online controversy after claim China’s nominal gross national income per capita for 2018 was US$9,732
  • Agency forced to respond after topic attracts over 200 million followers, with Beijing facing a delicate task of portraying itself for China’s 70th anniversaryA claim that China’s per capita gross national income was “above the average level of other middle-income countries” has caused an uproar on China’s main social media network, forcing the National Bureau of Statistics to defend its statement.
A claim that China’s per capita gross national income was “above the average level of other middle-income countries” has caused an uproar on China’s main social media network, forcing the National Bureau of Statistics to defend its statement.
Many users questioned why their incomes are far below the per capita nominal gross national income (GNI) of US$9,732 for 2018, which the National Bureau of Statistics (NBS) claimed in a statement released on Monday as part of a publication highlighting China’s economic achievements under Communist Party rule over the last 70 years.
The statement marked a subtle difference in tone from Beijing’s long-standing stance that the country is still a “developing” nation, triggering a heated debate about whether the GNI figure had overestimated China’s real economic status.
The topic of “China’s GNI at US$9,732 in 2018” had attracted over 200 million followers on Weibo as of Wednesday morning, with many commentators questioning “why am I not that rich?” or “why is my income way below that figure?”

Many Weibo users questioned why they are not being paid in the region of the nominal gross national income per capita of US$9,732 for 2018. Photo: Xinhua
And the sheer volume of comments forced the NBS to publish an explanation on Tuesday night to address the issue, as it noted that GNI per capita is always higher than disposal income per capita, stressing that China remains “the world’s largest developing country”.
The incident highlighted the sensitivity of Chinese consumers to income issues, and came as Beijing is trying to reconcile two self-imposed, sometimes conflicting, identifies. On the one hand, Beijing is telling its people that China is richer and stronger under Communist rule, but it is also saying it remains a poor and developing country that merits special treatment in trade deals and requires people to work hard to help the country progress.
A Chinese official, who declined to be named, told the South China Morning Post that Beijing is facing a delicate task of portraying a powerful country for the 70th anniversary of the People’s Republic of China this year without overplaying the image or inviting scrutiny from other countries.
“We need to highlight the achievements in the last 70 years to rally national pride, but we can’t overplay the tune to cause situations such as Amazing China,” the official said, referring to the Chinese documentary film aired in early 2018.
 

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Gas factory blast in China's Henan province kills two - state media
BEIJING, July 19 (Reuters) - An explosion at a gasification plant in China's central Henan province has killed two people and seriously injured eighteen, state-run CCTV reported on Friday.

The blast occurred around 5.50pm local time (0950 GMT) in an air separation unit of the Yima plant. Production has been halted after the accident, according to a statement published by local government on the twitter-like Weibo platform.

https://www.yahoo.com/news/gas-factory-blast-chinas-henan-153430067.html
 

Armand2REP

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Gas factory blast in China's Henan province kills two - state media
BEIJING, July 19 (Reuters) - An explosion at a gasification plant in China's central Henan province has killed two people and seriously injured eighteen, state-run CCTV reported on Friday.

The blast occurred around 5.50pm local time (0950 GMT) in an air separation unit of the Yima plant. Production has been halted after the accident, according to a statement published by local government on the twitter-like Weibo platform.

https://www.yahoo.com/news/gas-factory-blast-chinas-henan-153430067.html
Two dead my ass..............

 

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9 Things You Need to Know About Beijing’s Enormous New Daxing Airport

https://www.chinadiscovery.com/beij...ion/beijing-daxing-international-airport.html

Beijing Daxing International Airport is Beijing’s second international airport which will be the largest airport in the world. It was open on September 25, 2019. It’s much big in scale and highly advanced in techniques. It will be linked with northern China’s other modes of transportation, such as high speed rail, highway, subway, etc.
 

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Changsha Maglev Express 2.0
CRRC says that on 2 August, the speeding-up tests for Changsha’s second-generation maglev train began. The maglev has been developed in four stages:

conceptual design
component testing
assembly integration
test verification

The speeding-up tests are the final aspect of the ‘test verification’ phase.

In June 2018 the research team under CRRC Zhuzhou Locomotive Co., Ltd. and Hunan Maglev Technology Research Center successfully completed the development of the second-generation maglev for Changsha. Compared to the first generation, which entered service in May 2016, the maglev 2.0 is to carry more passengers at faster speeds. For example, the original Changsha maglev train operates at 100km/h, while this new one can run at 160km/h.

The Changsha Maglev Express runs between Changsha Huanghua International Airport and Changsha South railway station, which connects to the high-speed rail network.

https://railway-news.com/changsha-maglev-express-2-0-in-final-testing-phase/

In addition to the faster speed, the second-generation maglev also has an optimised design for the end electromagnet. This increases the suspension capacity of the train by six tons.

CRRC also optimised the design of the traction auxiliary system equipment. The new maglev will have 30 percent more traction power and a capacity of 500.

The maglev in Changsha is China’s second maglev system. However, this one, unlike the one in Shanghai, is domestically built. The Shanghai maglev was a joint venture between Siemens and ThyssenKrupp
 

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China Yangtze to buy Peru's largest electric company for $3.59 bln

https://news.cgtn.com/news/2019-10-...ic-company-for-3-59-bln-Krr6gZAmWI/index.html

China Yangtze Power International (CYP) has agreed to buy Peru's largest electric company Luz del Sur from Sempra Energy for 3.6 billion U.S. dollars, both companies confirmed on Monday.

Infinitive data shows that the deal is the biggest acquisition made by a Chinese state-owned enterprise in the Americas since 2015.

Sempra said the cash deal, which includes a near 84 percent stake in Lima-based Luz del Sur, has to be approved by the Peruvian anti-trust agency and the Bermuda Monetary Authority. The deal is expected to be completed in the first quarter of 2020.
 

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Chinese textile manufacturer's investment thrives in Ethiopia

https://news.cgtn.com/news/2019-09-...ent-thrives-in-Ethiopia-KfxyLR6oGQ/index.html

According to MOFCOM, the total of FDI outflows worldwide in 2018 decreased by 29 percent year on year, falling for three consecutive years, while China was up to the second largest foreign investor, with the outward FDI flows reaching 143 billion U.S. dollars.

What's more, the outward FDI stock of China at the end of 2018 was 66.3 times that of 2002, ranking third among all countries and regions, up from 25th place in 2002
 

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