Not FLG
Chinese Economics Thread
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Test site for intelligent, connected vehicles built in central China's Wuhan
A bird's-eye view of the ICV test field in Wuhan, central China's Hubei Province, August 5, 2022. /China National Radio
The construction of a test site for intelligent and connected vehicles (ICVs) was completed in the central Chinese city of Wuhan on Friday, for research and development, testing and authentication services.
With a total investment of 4 billion yuan ($593.4 million), the test site incorporates a series of cutting-edge technologies such as big data, artificial intelligence, 5G and edge computing.
It covers a total area of 87.5 hectares, containing testing areas for 10 scenarios and a Formula Two-level racing track.
Different road scenarios, including extreme weather conditions, weak signal environment, traffic jams and emergencies, are simulated in the testing areas.
"The site is like a 'supermarket of test items.' We have road scenarios such as ring expressways, urban arteries and country roads to satisfy all the testing needs for producing qualified ICVs," said Li Jixin, project manager of the test site at the China Construction Second Engineering Bureau Ltd.
Wuhan is a pilot city of ICV and smart transportation development in China. In July, the city revealed a plan to expand its testing roads for ICVs and smart transportation to 500 km in three to five years.
According to the plan, the city aims to complete the reconstruction of at least 100 km of open testing roads in one to two years. It will also facilitate the application of smart buses, autonomous driving taxis and driverless terminal delivery.
In July, China's total import and export value was 3.81 trillion yuan, up 16.6 percent. Among them, exports reached 2.25 trillion yuan, up 23.9 percent; 1.56 trillion yuan in imports, up 7.4%; The trade surplus was 682.69 billion yuan, up 90.9%.
In dollar terms, China's imports and exports totaled $564.66 billion in July, up 11 percent. Specifically, exports reached US $332.96 billion, up 18 percent; Imports were US $231.7 billion, up 2.3%; The trade surplus was US $101.26 billion, up 81.5%.
In dollar terms, China's imports and exports totaled $564.66 billion in July, up 11 percent. Specifically, exports reached US $332.96 billion, up 18 percent; Imports were US $231.7 billion, up 2.3%; The trade surplus was US $101.26 billion, up 81.5%.
US economy contracts for two quarters.
Media: "There's no recession, it's doing great"
China's economy, despite challenges, still grows and beats expectations
Media: "China's economy is in a dire situation so Xi is lashing out!"
but but but but but but but but but but but but but decoupling ..
January-July 2022 trade volume between Russia and China increased 29% year-on-year to $97.7 billion.
China's exports to Russia over the same period increased by 5.2% to US$36.3 billion, while Russian imports to China increased by 48.8% (to US$61.45 billion).
China's exports to Russia over the same period increased by 5.2% to US$36.3 billion, while Russian imports to China increased by 48.8% (to US$61.45 billion).
Are these numbers year-over-year? I think they are but I couldn't locate anything concrete.
China's IPO Market is Still Alive
Good news. I calculate that between China and HK, about $136 billion in IPOs were raised in China, compared to $253 billion for the U.S. in the last two years, and 2022 has been better than 2021 for China. My hope is that IPOs continue to grow in China, particularly the tech sector, to contribute to the country's long-term development, and eventually China's IPO ecosystem comes to equal or even surpass that of the U.S.
Good news. I calculate that between China and HK, about $136 billion in IPOs were raised in China, compared to $253 billion for the U.S. in the last two years, and 2022 has been better than 2021 for China. My hope is that IPOs continue to grow in China, particularly the tech sector, to contribute to the country's long-term development, and eventually China's IPO ecosystem comes to equal or even surpass that of the U.S.
As a result of Pelosi fallout, more laws in banking and finance will most likely be put in place, starting from this upcoming congress, to ensure transparency in ownership and protecting Chinese assets, basically laying the groundwork for sanction proofing Chinese economy. More control, more teeth, not less.