Would probably be done by now if it wasn't for the tortuous land acquisition.
It is almost as bad as California's high speed rail project in that regard.
News on China's scientific and technological development.
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Would probably be done by now if it wasn't for the tortuous land acquisition.
It is almost as bad as California's high speed rail project in that regard.
No that won't do. It will knock them off the No.1 spot for passengers per mile carried. (Pun intended) lol.
There were articles about China 5G base station market is the as the rest of the world. Anybody can post it? I can't find it. Thanks.
I agree with that. Not only are electric cars much more efficient than combustion cars (they are even more efficient than hydrogen cars), they are also mechanically simpler, requiring less people to manufacture, and have cheaper maintenance.
TBH, i dont think so. The former soviet area has low density population, huge distances and is poor. AFAIK, the moscow-beijing HSR link is economically non-start (seems to me like a political project), and the other former republics are too poor, low traffic, and distant from eastern china, to merit a HSR link.
Chinese scientist deported by US accused of spying is the father of China's rocket development.
Qian Xuesen: The man the US deported - who then helped China into space
Published18 hours ago
IMAGE COPYRIGHTGETTY IMAGES
A Chinese scientist helped not one but two superpowers reach the moon, writes Kavita Puri, but his story is remembered in only one of them.
In Shanghai there is an entire museum containing 70,000 artefacts dedicated to one man, "the people's scientist" Qian Xuesen.
Qian is the father of China's missile and space programme. His research helped develop the rockets that fired China's first satellite into space, and missiles that became part of its nuclear arsenal, and he is revered as a national hero.
But in another superpower, where he studied and worked for more than a decade, his significant contributions are rarely remembered at all.
I particularly this extract:
"Ironically, the missile programme that Qian helped develop in China resulted in weapons which were then fired back on America. Qian's silkworm missiles were fired at Americans in the 1991 Gulf War, Fraser Macdonald says, and in 2016 against the USS Mason by Huti rebels in Yemen.
"So there's this odd circularity. The US expelled this expertise, and it has come back to bite them." In taking a tough line against domestic communism, he suggests, the country deported "the means by which one of their main communist rivals could develop their own missiles and space programme - an extraordinary geopolitical blunder."
A former US Secretary of the Navy, Dan Kimball - later head of the rocket propulsion company, Aerojet - once said it was "the stupidest thing this country ever did"."
Rest of the article:
Qian Xuesen: The man the US deported - who then helped China into space
Published18 hours ago
IMAGE COPYRIGHTGETTY IMAGES
A Chinese scientist helped not one but two superpowers reach the moon, writes Kavita Puri, but his story is remembered in only one of them.
In Shanghai there is an entire museum containing 70,000 artefacts dedicated to one man, "the people's scientist" Qian Xuesen.
Qian is the father of China's missile and space programme. His research helped develop the rockets that fired China's first satellite into space, and missiles that became part of its nuclear arsenal, and he is revered as a national hero.
But in another superpower, where he studied and worked for more than a decade, his significant contributions are rarely remembered at all.
I particularly this extract:
"Ironically, the missile programme that Qian helped develop in China resulted in weapons which were then fired back on America. Qian's silkworm missiles were fired at Americans in the 1991 Gulf War, Fraser Macdonald says, and in 2016 against the USS Mason by Huti rebels in Yemen.
"So there's this odd circularity. The US expelled this expertise, and it has come back to bite them." In taking a tough line against domestic communism, he suggests, the country deported "the means by which one of their main communist rivals could develop their own missiles and space programme - an extraordinary geopolitical blunder."
A former US Secretary of the Navy, Dan Kimball - later head of the rocket propulsion company, Aerojet - once said it was "the stupidest thing this country ever did"."
Rest of the article:
They should be careful with Trump constantly trying to rig the election n all.
As I said many times before, China's scale and speed are huge advantage when it comes to development of new industries and new innovations. The EV industry is but one such example.
Also, China's strategy of allowing and helping Tesla setting up the country's first wholly-owned foreign auto factory is to start to pay off dividend. The idea has been to leverage Tesla's brand and technology to stimulate the EV market in China, foster domestic competition, develop a 100% domestic supply chain. The GigaFactory in Shanghai was built in record time; Telsa has taken 20% of China's growing EV market while continuing to lower the price of its models. VW has also recently completed its 17 billion RMB EV factory in Shanghai. Meanwhile both the market cap of Tesla and the personal wealth of Elon Musk are shooting through the roof. It's a win-win. Eventually, China wants to repeat and exceed its success in smartphone industry.
---------------------------------------------------------------
Local companies leverage the country’s scale advantages to make competitively priced cars
13 HOURS AGO
At what point does investor enthusiasm at the dawn of a new technology spill over into irrational exuberance? The British railway mania of the 1840s, the dotcom bubble of the early 2000s and other stock market frenzies offer salutary histories.
In each case, the narrative power of a transformational technology swept away concerns over giddy share valuations until, ultimately, financial gravity was restored with a crash. So how does the boom under way in Chinese electric vehicle stocks compare?
Some observers reckon that valuations are already overcooked. Three leading US-listed Chinese EV start-ups, Nio, Li Auto and XPeng, are all making sizeable net losses but equity investors value them at $35.4bn, $15.9bn and $14.4bn respectively.
Those EV makers and components suppliers that do make profits are so highly fancied that their valuations can be eye-popping. The share price of Hong Kong-listed BYD, which makes EVs as well as traditional cars, is equivalent to 245 times its earnings per share over the previous 12 months. That compares with the Hang Seng index’s average PE of 13.26 times. CATL, an EV battery maker, has a trailing price/earnings ratio of 117.5, also much higher than the average for the Shenzhen market where it is listed.
Nevertheless, the China EV theme still has many believers. These investors see China leveraging its huge scale advantages to make the first EVs that can compete on price with traditional cars. Then, they predict, such cars will find a ready international market in a world increasingly worried about climate change. And in any case, they say, the trailing PE ratio of Tesla is currently running at 1,045.8. So Chinese valuations seem modest by comparison.
Karine Hirn, a Hong Kong-based partner at fund manager East Capital, said investors should not conclude that China’s EV valuations are overdone. “PE valuations are high but still lower than Tesla’s,” she said.
One key moment for the industry is approaching. The price of EV batteries, which make up a big portion of the cost of a car, is set to drop below $100 per kWh by 2023 — from a current $160 — around which point “cost parity” with internal combustion engine cars will be reached, said Ms Hirn.
“The cost parity implies a huge leap in terms of future EV sales,” she added.
Already, the appeal of cost-effective EVs is clear. Overtaking the Tesla Model 3 as China’s best-selling EV in August was a boxy little car called the Wuling Hong Guang Mini EV, which cost about $4,200 — a fraction of the $42,691 that the Tesla Model 3 sells for.
When mass-market scale is reached, the advantages will trickle back to China’s supply chain. Chinese battery makers and auto parts suppliers will benefit a lot, said Ms Hirn, “both from the point of view of the domestic market and from global market demand since they are way ahead of the competition due to scale advantages”.
China’s dominance in EVs is startling. Last year, its manufacturers sold just under 1.2m EVs, accounting for more than half of global sales. But Beijing’s ambitions are writ large: it wants 25 per cent of all car sales in the country to be EVs by 2025, up from about 5 per cent at present. A new government document, the “Energy Saving and New Energy Vehicle Technology Roadmap” — to be announced soon — is expected to add impetus to such targets, industry sources said.
Gary Cheung, director at Haitong Securities, said much of the EV investment action was likely to centre on component suppliers. “One of the hottest investible sectors in China is definitely EV, triggered by Tesla’s entry into China last year with the great hope of stimulating the development of the local EV supply chain,” said Mr Cheung.
Tesla rolled out the Model 3 from its $2bn Gigafactory near Shanghai in January. It has managed to slash costs by localising its supply chain, raising the ratio of locally produced parts to 70 per cent, from 50 per cent at the end of 2019. Some observers now think a 100 per cent locally produced Model 3 is a possibility.
Such a seeding of the local supply chain has helped boost the share prices of local Chinese manufacturers. One of these, Suzhou Inovance Automotive, which makes EV motors for Li Auto and others, has seen its share price surge this year and its trailing PE ratio stands at 81. Some analysts tip its motor to be used in future Tesla Model 3s.
All this is of keen interest to international investors, which have piled into Chinese stocks this year. Copley Fund Research, a consultancy, has found that among 250 leading emerging market investment funds, the total value of Chinese A-shares held stands at $19.6bn, up from $3.25bn at the start of 2017 and $12.6bn at the start of 2020.
Also, China's strategy of allowing and helping Tesla setting up the country's first wholly-owned foreign auto factory is to start to pay off dividend. The idea has been to leverage Tesla's brand and technology to stimulate the EV market in China, foster domestic competition, develop a 100% domestic supply chain. The GigaFactory in Shanghai was built in record time; Telsa has taken 20% of China's growing EV market while continuing to lower the price of its models. VW has also recently completed its 17 billion RMB EV factory in Shanghai. Meanwhile both the market cap of Tesla and the personal wealth of Elon Musk are shooting through the roof. It's a win-win. Eventually, China wants to repeat and exceed its success in smartphone industry.
---------------------------------------------------------------
Local companies leverage the country’s scale advantages to make competitively priced cars
13 HOURS AGO
At what point does investor enthusiasm at the dawn of a new technology spill over into irrational exuberance? The British railway mania of the 1840s, the dotcom bubble of the early 2000s and other stock market frenzies offer salutary histories.
In each case, the narrative power of a transformational technology swept away concerns over giddy share valuations until, ultimately, financial gravity was restored with a crash. So how does the boom under way in Chinese electric vehicle stocks compare?
Some observers reckon that valuations are already overcooked. Three leading US-listed Chinese EV start-ups, Nio, Li Auto and XPeng, are all making sizeable net losses but equity investors value them at $35.4bn, $15.9bn and $14.4bn respectively.
Those EV makers and components suppliers that do make profits are so highly fancied that their valuations can be eye-popping. The share price of Hong Kong-listed BYD, which makes EVs as well as traditional cars, is equivalent to 245 times its earnings per share over the previous 12 months. That compares with the Hang Seng index’s average PE of 13.26 times. CATL, an EV battery maker, has a trailing price/earnings ratio of 117.5, also much higher than the average for the Shenzhen market where it is listed.
Nevertheless, the China EV theme still has many believers. These investors see China leveraging its huge scale advantages to make the first EVs that can compete on price with traditional cars. Then, they predict, such cars will find a ready international market in a world increasingly worried about climate change. And in any case, they say, the trailing PE ratio of Tesla is currently running at 1,045.8. So Chinese valuations seem modest by comparison.
Karine Hirn, a Hong Kong-based partner at fund manager East Capital, said investors should not conclude that China’s EV valuations are overdone. “PE valuations are high but still lower than Tesla’s,” she said.
One key moment for the industry is approaching. The price of EV batteries, which make up a big portion of the cost of a car, is set to drop below $100 per kWh by 2023 — from a current $160 — around which point “cost parity” with internal combustion engine cars will be reached, said Ms Hirn.
“The cost parity implies a huge leap in terms of future EV sales,” she added.
Already, the appeal of cost-effective EVs is clear. Overtaking the Tesla Model 3 as China’s best-selling EV in August was a boxy little car called the Wuling Hong Guang Mini EV, which cost about $4,200 — a fraction of the $42,691 that the Tesla Model 3 sells for.
When mass-market scale is reached, the advantages will trickle back to China’s supply chain. Chinese battery makers and auto parts suppliers will benefit a lot, said Ms Hirn, “both from the point of view of the domestic market and from global market demand since they are way ahead of the competition due to scale advantages”.
China’s dominance in EVs is startling. Last year, its manufacturers sold just under 1.2m EVs, accounting for more than half of global sales. But Beijing’s ambitions are writ large: it wants 25 per cent of all car sales in the country to be EVs by 2025, up from about 5 per cent at present. A new government document, the “Energy Saving and New Energy Vehicle Technology Roadmap” — to be announced soon — is expected to add impetus to such targets, industry sources said.
Gary Cheung, director at Haitong Securities, said much of the EV investment action was likely to centre on component suppliers. “One of the hottest investible sectors in China is definitely EV, triggered by Tesla’s entry into China last year with the great hope of stimulating the development of the local EV supply chain,” said Mr Cheung.
Tesla rolled out the Model 3 from its $2bn Gigafactory near Shanghai in January. It has managed to slash costs by localising its supply chain, raising the ratio of locally produced parts to 70 per cent, from 50 per cent at the end of 2019. Some observers now think a 100 per cent locally produced Model 3 is a possibility.
Such a seeding of the local supply chain has helped boost the share prices of local Chinese manufacturers. One of these, Suzhou Inovance Automotive, which makes EV motors for Li Auto and others, has seen its share price surge this year and its trailing PE ratio stands at 81. Some analysts tip its motor to be used in future Tesla Model 3s.
All this is of keen interest to international investors, which have piled into Chinese stocks this year. Copley Fund Research, a consultancy, has found that among 250 leading emerging market investment funds, the total value of Chinese A-shares held stands at $19.6bn, up from $3.25bn at the start of 2017 and $12.6bn at the start of 2020.
The more I hear this crap, they more I wish that the damn San Andreas goes off and sink Silicon Valley for good. Just because China is doing better doesn’t give the USA has to right to go bully and slander others with no consequences