Companies
China sees faster trains ahead
China is expected to supply next-generation bullet trains capable of traveling at 400 km per hour for Russia’s Moscow-Kazan line by 2020, which could enhance the country’s position as the world’s leader in high-speed rail products and services, said an expert working on the project.
The line is expected to be about 770 kilometers long and will run through seven Russian regions with a total population of more than 25 million. It will use regular high-speed trains rather than magnetic levitation trains.
“To ensure the operation, China will test the 400 km/h train in a selected part of the 709-kilometer Beijing-Shenyang high-speed railway line,” said Yang Guowei, a researcher at the Institute of Mechanics of the Chinese Academy of Sciences in Beijing. The railroad is expected to be completed in 2019.
Yang’s work unit is responsible for designing the shape of the high-speed trains.
Yang said China will be able to produce cargo trains for transporting regular goods, high-end products and industrial equipment at speeds ranging from 120 to 250 km/h between Asia and Europe by 2020.
Through innovation and development, China has the technology to make electric multiple-unit passenger trains with speeds between 200 and 250 km/h and has established a technology platform for producing trains with a speed of 350 km/h, according to data on the website of the National Railway Administration.
The country does not currently have trains with a speed of 400 km/h. However, Yang said that once they are developed, China can introduce them to the domestic market as well. However, the ticket price may increase because of higher operating costs.
Jia Limin, head of China’s high-speed rail innovation program under the management of China Railway Rolling Stock Corp, said, “This could help China build cross-border high-speed train services with its neighboring countries that can alternate between different track gauges, ranging from 60 cm to 1.676…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
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Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
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Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
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