Chinese Economics Thread

B.I.B.

Captain
It's fair enough for anyone to pat themselves and their fellow citizens on the back, it's appreciative and also informative since most people are not fully aware of how their own work contributes to their country's accomplishments, nor simply the full extent of their own work's or their country's accomplishments. In a way someone has to blow everyone's horn on behalf of everyone else.

Has anyone else seen the CCTV program Amazing China? Remove the blatant propaganda segments, namely the intro and end credits, and it reminds me somewhat of the PBS program America Revealed. The whole series has been posted on Youtube.


Unfortunately I don't understand Chinese to fully appreciate the program.I enjoyed viewing the series on the construction of her megastructures, especially the construction of the Yangshan deepwater container port.
 

vincent

Grumpy Old Man
Staff member
Moderator - World Affairs
These sort of videos (produced by the state media) is exactly the problem with Chinese PR/propaganda. Blowing your own trumpet is not a popular thing to do. Even if what is said in the video is 100% true it will still leave a rancid taste in people's mouth.

If people at this point still don't know that China has done well in the past 4 decades simply means they don't wan't to know. And these type of videos instead of informing them will only increase their prejudice towards China.

China doesn't need to convince others how well its doing. China should simply do its own thing.

Try the previous Canadian government:

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BILL CURRY OTTAWA
APRIL 2, 2015

Conservative government spending on advertising has grown to $75-million, according to an annual report that was quietly posted online Thursday.

The report on government-wide advertising for the 2013-14 fiscal year comes more than a year after that period ended.

Public Works released the report several weeks later than last year. Officials insist it takes between 12 and 16 months to produce the report.

The report was released on a day when the Conservative government came under fire in Question Period over leaked plans to spend $7.5-million in May on ads to promote the 2015 budget, scheduled for April 21.

The annual report shows federal departments spent a combined $75.2-million on ads in 2013-14, a 9-per-cent increase over the $69-million spent the prior year.

Ad spending had been on a three-year decline after reaching a peak of $136.3-million in 2009-10 when the government ran a large number of ads to promote stimulus spending under the slogan "Economic Action Plan."

Even though the government's stimulus spending was largely limited to a two-year window, the slogan lived on as the government adopted it to describe its general approach to the economy.

The report shows that Ottawa spent $10.5-million on Economic Action Plan ads in 2013-14 and a further $11.3-million on "Better Jobs" ads, which are similar.

Other campaigns included $7.6-million on promoting the government's wireless telecommunications policy, $5.7-million spent by the Canada Revenue Agency promoting tax breaks, $5.2-million by Natural Resources on "responsible resource development," $4.3-million on an anti-cyberbullying campaign and $3.9-million on ads related to Remembrance Day.

NDP Leader Thomas Mulcair criticized the government's plans to spend a further $7.5-million on budget ads, arguing the spots have the effect of promoting Prime Minister Stephen Harper and the Conservative Party.

"That's contempt for the taxpayers," he said Thursday.

Treasury Board President Tony Clement said Thursday that advertising is needed to inform Canadians about tax changes.

"We always (have) an obligation to convey changes in government policy, particularly budgetary changes, and so this is no different from any other year," he said.
 

Hendrik_2000

Lieutenant General
I like this comment on youtube
China is the world's largest market for electric vehicles, thanks largely to subsidies that drive costs down. Those incentives will end by 2020, but the government is betting that won't be the end of the road for its electric dream. Photo/Video: Eva Tam/The Wall Street Journal

It is hard for new players to compete against Japanese and European combustion engine quality. So, it's also good decision in term of competition to directly jump to electric.
Because both start from the same starting point.Combustion engine is like an art it need to be honed over long period of time Competing against the established maker is like butting your head against the wall. they are Dinosaurus anyway


 
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Hendrik_2000

Lieutenant General
It is not all rosy in China. There are still 70 million people lives in poverty. That is the population of France. It is difficult to deal with them because most of them lives in isolated villages in inland provinces high in mountain with poor road and connectivity.

But the CCP make a scared promise that motivate thousand if not million to give up their life in struggle for better tomorrow. Improving people life is the yardstick by which they will be judged. The road is still long and hard But I bet they will make all the effort
 
now I read
China Focus: China's rust belt looks to Belt and Road for revitalization
Xinhua| 2017-10-07 20:43:44
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"I am so happy to see the smooth construction of the first China-Russia cross-border road bridge," said Nagia after she and another 120 artists from China and Russia performed at the bridge construction site.

Construction of the long-awaited bridge across the Heilongjiang River, or the Amur River in Russia, started in 2016 after 28 years of negotiation between China and Russia.

The bridge and its corresponding infrastructure are important parts of the China-Mongolia-Russia economic corridor under China's Belt and Road Initiative, intended to trigger a development boom in the region.

In 2013, China introduced the Belt and Road Initiative connecting the vibrant Asian economic circle at one end and Europe at the other, and then extending it further to other regions.

China's rust belt covers Liaoning, Jilin and Heilongjiang provinces in the northeast, which border Russia and are located in the center of Northeast Asia.

It was among the first regions in China to become industrialized. Traditional industries include steel, automobiles, shipbuilding, aircraft manufacturing, and petroleum refining.

The provinces saw double-digit economic growth until 2012 and 2013, when the region faced shrinking resources and industrial overcapacity amid the global economic slowdown.

In 2015, economic growth in the three provinces trailed behind the national average, with Heilongjiang, Jilin, and Liaoning posting growth of 5.7 percent, 6.5 percent and 3 percent, respectively. The 3-percent growth rate in Liaoning was the lowest of all 31 provincial regions.

After the Belt and Road Initiative was proposed, China's rust belt worked to improve cross-border transport facilities and develop export-oriented industries to rejuvenate the region's economy by taking advantage of its favorable location.

In September, China's first international cold chain logistics cargo train left Qiqihar City in Heilongjiang for Moscow of Russia.

The train mainly carries fruit, vegetable and frozen food produced in the northeast to Russia, and then returns with Russian dairy products to China, said Dong Ling, chairman of Heilongjiang Longyun Group.

China-Europe cargo trains have transported many affordable high-quality goods to China, said Liu Hanzhong, a staff member at a supermarket in Changchun City, capital of Jilin Province.

As a traditional industrial base, China's rust belt has also encouraged local companies to go global.

Chinese automaker FAW Group, established in 1953 in Changchun, set up an overseas investment company in September with five Chinese firms to accelerate its expansion in countries along the Belt and Road.

FAW will continue to improve its auto sales and financial loan service in countries along the Belt and Road to bolster its industrial chain, said Qiu Xiandong, deputy general manager of FAW Group.

Additionally, Jilin Province has set up a cooperation relationship with local governments from 83 countries and regions and 382 multi-national companies under its plan to expand international markets.

Opening up and cooperation are the only way to power the region's rejuvenation, said Lin Nianxiu, deputy head of China's National Development and Reform Commission.
 
now I read
China's sovereign wealth fund hits 900 bln USD
Xinhua| 2017-10-07 18:53:17
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Total assets of China Investment Corporation (CIC), the country's sovereign wealth fund (SWF), surpassed 900 billion U.S. dollars as of August.

The figure is more than triple the original capital of 249 billion U.S. dollars when the fund was founded a decade ago. It has grown quickly to become the world's second-largest SWF, only after the Government Pension Fund of Norway, whose assets reached one trillion dollars last month.

CIC has generated an annual return of 14.35 percent, with that from overseas investment at 5.51 percent.

"Compared with other financial institutions, our biggest advantage is that we are backed by the Chinese market," CIC's general manager Tu Guangshao said.

By the end of 2016, almost half of CIC's overseas investment was in public equities, followed by alternative assets, fixed incomes, cash and others. Around two-thirds of the investment was externally managed.

Tu said CIC's growth in the next 10 years will depend on its efforts to invest in China's economic transformation and push forward the global march.

"CIC will devote itself to serving as a bridge linking businesses and markets at home and abroad," Tu said.
 

Hendrik_2000

Lieutenant General
now I read
China Focus: China's rust belt looks to Belt and Road for revitalization
Xinhua| 2017-10-07 20:43:44
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One guy comment on youtube What da ya thinkl
China completed construction of the Chinese part of the bridge (~1890 meters) more than one year ago, but Russia still don't even started construction of the Russian part (~330 meters). Russians authorities make sweet speeches about China, about friendship and cooperation, but actually they afraid of China, they see China as potential enemy,
 

Hendrik_2000

Lieutenant General
In this case, I think China should help Russia to build it... for a small fee of course, payable in gold or oil only.
I believe they finally started construction on their side of the bridge after long delay.They have no choice if they want the border area to grow economically reservation aside. The Russian border area is in a dump for along time. Their only hope is closer integration with Chinese side of the border

Anyway China is slowly changing from heavy reliance on old and dirty truck into more modern and clean truck and along the way they created new industry. Like they say Calamity is the flip side of opportunity

YUTIAN, CHINA —
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On a recent morning in Yutian, a dusty town bisected by the highway that connects Beijing to the sea, Su Meiquan strolled into a dealership packed with hulking trucks and prepared to drive off with a brand new rig.

After years of driving a diesel truck for a trucking company, he had decided to buy his own vehicle -- a bright red rig fueled with liquefied natural gas, capable of hauling as much as 40 tons of loads like steel or slabs of marble.

Su hopes the LNG truck - less polluting and cheaper to operate than diesel ones - will be the cornerstone of his own business, plying the route to the western fringes of China.

"Everybody says gas is cleaner with nearly no emissions," he said after signing a stack of paperwork in the dealer's office.

In front of him, photos of proud drivers posing in front of their own new LNG trucks had been taped to the wall.

Sales of large LNG trucks are expected to hit record levels in China this year as the government steps up an anti-pollution campaign that includes curbs on heavy-duty diesel vehicles.

LNG trucks account for about four percent of the more than six million heavy vehicles able to haul 40 to 49 tonnes of goods that are currently on China's roads. The vast majority of the 43 billion tonnes of freight transported across China last year was by highway.

A demand for LNG trucks

But demand for LNG trucks is soaring as companies and manufacturers shift to vehicles that run on the gas that Beijing sees as a key part of its war against smog.

Sales of LNG heavy trucks surged 540 percent to nearly 39,000 in the first seven months of the year, according to Cassie Liu, a truck analyst with the IHS Markit consultancy.

That was partly fueled by a ban this year on the use of diesel trucks to transport coal at northern ports in provinces like Hebei and Shandong, and in the city of Tianjin.

"We are seeing a blowout in LNG trucks this year, thanks to the government's policy push," said Mu Lei, marketing manager for China National Heavy Duty Truck Group, known as Sinotruk, the country's largest manufacturer of heavy-duty trucks.

The shift to gas trucks is helping fuel demand for LNG in China, as are other government measures aimed at clearing the air, especially in the north, which is shrouded in a hazardous coal-fueled smog for much of the winter.

One major project is piping gas to 1.4 million households across the north for heating this winter, shifting away from coal.

China, already the world's No.3 LNG consumer, has seen imports jump 45 percent so far this year.

Chinese companies like Jereh Group and ENN Energy Holding , which build LNG filling stations, and Zhangjiagang CIMC Sanctum Cryogenic Equipment Co., Ltd, which specializes in LNG tanks, are expected to benefit from the gas boom, analysts said.

Overload, Ports

Government restrictions on cargo overloading last year, for safety reasons, has also driven truck sales as operators rushed to buy bigger trucks.

Next month, Beijing will also impose restrictions on thousands of northern factories using diesel trucks, forcing many to use more rail and others to consider gas-powered lorries.

Sales of new heavy-duty trucks, including diesel and LNG vehicles, jumped 75 percent in the January-August period to 768,214, according to industry website
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.

It did not break down the numbers, but companies say that diesel growth is being dwarfed by that of the LNG trucks.

Last week, Sinotruk netted new orders for 1,371 heavy-duty trucks, 900 of which run on LNG, at an event bringing together coal transport companies from seven northern Chinese cities, Mu said. In the first half of this year, Sinotruk sold 5,200 LNG trucks, up 650 percent year on year.

"Gas trucks are both more environmentally friendly and more economic," said Lai Wei, general manager of Tianjin Shengteng Transport Company, a privately-run trucking company.

Lai is tripling his LNG fleet to more than 100 by the end of this year, adding 65 new trucks made by Shaanxi Heavy Duty Automobile Co. Ltd, the country's largest LNG vehicle producer.

He is also cutting back his diesel fleet to 30 from 50 previously because of the new emissions rules in Tianjin that come into effect this month.

Only vehicles meeting "National Five" emissions standards, similar to Euro V standards for trucks and buses in Europe, will be allowed to operate at the port.

Lai said he was also concerned that there might be further restrictions on diesel trucks in a few years.

Cleaner, Cheaper

China, the world's top energy guzzler, wants gas, which emits half the carbon dioxide as that of burning coal, to supply 15 percent of energy demand by 2030, up from 6 percent currently.

That effort stalled in 2014 as an oil price slump lifted demand for diesel. But as oil prices have risen in the past 20 months, rebounding to above $50, LNG sales, especially from Australia and the United States, have soared.

Diesel costs between 10-30 percent more than gas on average currently at Chinese gas stations, according to truck companies.

For Su, the new truck owner in Yutian, about 140 kilometers to the east of Beijing, price is a major reason for making the switch from diesel.

He plans to hire two drivers to shuttle the 3,500 kilometers between Yutian and Urumqi, in the northwestern region of Xinjiang, to carry steel products west and coal or other goods on the way back.

"It really suits our journeys as the longer the trip, the more you save on fuel on an LNG truck," he said.

He is paying 390,000 yuan for a Sinotruk rig, about 60,000 yuan more than a diesel truck would have cost.

"On a return trip, we can save 3,000 yuan in fuel," he added. "That means we'll be able to recoup within a year the extra cost on the vehicle."
 
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