Chinese Economics Thread

Strangelove

Strangelove

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Shenhai-1, the first deep-sea gas field fully operated by a Chinese company, has produced over 1 billion cubic meters of natural gas, operator China National Offshore Oil Corporation (CNOOC) announced Sunday.

Located 150 kilometers from south China's Hainan Island, the deep-sea well has been the most difficult to exploit. It is an important source of clean energy for the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area.
Since the start of its operation on June 25, 2021, the daily output of the gas field has risen from 400,000 cubic meters to the present 10 million cubic meters.

Yuan Yuan, director-general of the gas field, said the cumulative output of over 1 billion cubic meters has proved the capability and reliability of China's self-made systems for exploration, exploitation, production and operation of deep-sea gas and oil reserves.

Featuring world's first 100,000-tonne semi-submersible oil production and storage platform, once put into production, the energy station will be able to supply 3 billion cubic meters of gas to south China's Guangdong Province, Hong Kong Special Administrative Region and Hainan Province on an annual basis, meeting a quarter of the total gas demand of the Guangdong-Hong Kong-Macao Greater Bay Area.
Closely following the changes in upstream and downstream production of gas fields, the operation team overcame a series of obstacles, such as ensuring safety amid strong deep-sea currents and self-debugging of the ethylene glycol recycling system, said Pei Jianxiang, manager of the Department of Exploration and Exploitation of the Hainan branch of the CNOOC.

In the future, the team is looking forward to applying its experiences to more gas fields as it is actively promoting the exploitation of gas fields including Shenhai-2, also known as Lingshii 25-1, Pei added.
 
Jiang ZeminFanboy

Jiang ZeminFanboy

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Vanke sales are crushing with the whole 100 biggest companies in real estate 41% sales drop.

The collective sales value of China’s top 100 developers fell 41 per cent in January from last year to 526.6 billion yuan (US$8.3 billion), versus a 38 per cent contraction in December, according to the China Real Estate Information Corporation, which compiles industry data.
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mossen

mossen

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The entire housing sector in China was allowed to get out of control. Price/income in Beijing is far higher than in London or NYC. The CCP needs to step in and nationalise the sector.
 
O

Overbom

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W20 said:
(!?)

Now ... We can see that Chinese company in Shanghai is worth 4 x (!!!) what it is worth in New York

Why go to a place that doesn't appreciate you. It is completely absurd
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What I have heard is that IPOs in the US are done faster than IPOs in China/HK
 
O

Overbom

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Shanghai is looking to grow its biopharmaceutical market to 1 trillion yuan ($157.3 billion) by the end of 2025, as biopharma remains one of the three backbone industries fueling the city's high-quality growth.
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In 2021, such market in Shanghai was valued at over 700 billion yuan, up from 600 billion of the previous year.
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