Foreign investors’ purchases of Chinese bonds will probably surge more than fourfold in the coming two years as global central banks diversify their reserves.Monetary authorities and supranational organizations will lead buying of about $48 billion in 2017 and 2018, according to a Bloomberg News survey of 11 analysts. That’s more than four times the $12 billion of the whole of last year. Inflows have slowed to $8 billion so far in 2016 as the yuan’s 4.2 percent decline sapped investor confidence."There’s still huge potential for reserve managers to diversify slowly their reserves into the...
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2016
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A self-driving vehicle service will be commercially viable in China by 2018, while the mass production of self-driving cars will be realized within five years, China’s Internet giant Baidu announced on Nov. 3. Currently, 18 car and Internet companies have revealed similar plans, among which Baidu is the leading enterprise.The remark was made by Wang Jin, senior vice president of Baidu, at the Global Innovator Conference in Beijing. Wang stated that the company is going to test its self-driving cars during the third World Internet Conference, which will be held in Zhejiang province from Nov. 16...
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2016
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China has started to build a prototype supercomputer system with an estimated peak performance of over 1,000 quadrillion calculations per second, ten times that of the current fastest computer, researchers said Wednesday.The exascale supercomputer is being developed by the National Research Center of Parallel Computer Engineering & Technology (NRCPC) and will be installed at the National Supercomputing Center in Jinan.The project follows the announcement of China’s independently developed Sunway Taihulight as the world’s fastest supercomputer in June at the 2016 International Supercomputin...
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2016
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BEIJING — China is opening up its agriculture industry to corporate farming, a move that could have wide economic and political implications. That decision may gradually phase out collective farming, which has long been one of the Communist Party’s main political levers through a national network of provincial and county leaders.China is hoping to entice foreign and private capital to invest in the tightly-controlled agricultural sector. State media also notes the policy aims to promote and standardize the “transfer of the right to use farmland from rural residents to commercial entities.”The ...
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2016
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China’s largest railway enterprise has shelled out 2 billion RMB to establish the country’s first magnetic levitation company, marking the country’s push to speed up its industrialization.China Railway Construction Corporation Limited (CRCC) has established its subsidiary, China Railway Maglev Transportation Investment & Construction Co., LTD (CRMT), located in Wuhan, Hubei province. The subsidiary carries out research on maglev technology for passenger and cargo transportation, in addition to planning, managing, building and investing in maglev projects.Lei Jiamin, president of CRMT, sa...
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2016
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