Category Archives: News

Student start-ups inspired to enter the driverless car market

Beijing, China — On a rainy day in the mid-of November in Hubei province, China, racing cars were running on the Xiangyang Dream Formula track. The strange thing was the cars had no drivers behind the wheel. Instead of sitting behind the steering wheel, drivers were standing not too far behind the start line. Actually, they are engineering students of the Chinese universities who were participating the 2017 Formula Student China sponsored by Aiways. Seven teams brought driverless cars to the Formula Student China competition. The Organizing Committee introduced the driverless formula car race this year. 

“The driverless car race is becoming popular in China,” said Kuang Shu Chi(匡书池),  a new member of Hefei Technology University’s Formula Student driverless team.

Kuang Shu Chi(匡书池), 24, switched his major from a machinery engineering to autonomous car because of growing the demand.

China’s driverless car market is expected to reach 200 billion RMB in 2020, and there will be around 8.6 million autonomous vehicles on the road by 2035, according to the China Industrial Information Network. This forecast has not only inspired thousands of students like Kuang Shu Chi(匡书池), but also hundreds of start-ups like KITTCAMP to enter driverless car industry in China.

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Bloomberg’s Tom Orlik: Even painful, China needs deleverage

Dec 2, 2017, | by Naanga

Beijing, China — Bloomberg economists expect China’s economic growth to further moderate to 6.4 percent in 2018, to 6.2 percent in 2019, according to a survey conducted by Bloomberg News.

“The Chinese economy is going to slow towards mid-single digits, 5.5 percent by 2020,” said Tom Orlik, the chief Asia economist for Bloomberg Intelligence.

Not only Bloomberg is de-escalating the second largest economy’s estimation, but also IMF, Morgan Stanley, and UBS will moderate in coming years outlook.

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What is new around China-Mongolia-Russia Economic Corridor

    Beijing, China — Huge clouds of dust have become a regular sight in the Gobi due to the passing of thousands of heavy-duty trucks loaded with coal bound for the China-Mongolia border.  “To earn money, I bought a second-hand truck and hired a driver. I hope to recover its cost within a year,” said Bayanmunkh.B, one of these heavy truck-owners.  “I have chosen the Hangi-Mandal border crossing because it is ten times less congested than the Gashuunsuhait-Gants Mod border crossing.”

 

Screen Shot 2017-11-25 at 4.26.55 PM
Photo by Reuters/Rentsendorj.B

 

“Around 5000 heavy-duty trucks carry coal to the Gashuunsuhait, and sometimes the drivers are stuck for a week at the border zone because of the queue,” said a local police officer Bayarbat.D over the phone. The border can only let 700 trucks through per day. Their target for the incoming year is 3000 trucks per day, according to a Reuters report.

Under the China-Mongolia-Russia Economic corridor, one of the six priority corridors of the Belt and Road Initiative, Mongolia, China, and Russia agreed to fast-track the cross-border shipping of freight. Besides increases in capacity at border checkpoints, there are over 30 other projects lined up within the scope of the program.

 

    The bigger picture is that the China-Mongolia-Russia Economic Corridor is still a conceptual exercise, rather than a physical reality.  After the signing of the agreement on the trilateral economic corridor, 17 months have passed. What progress has there been, if any, on the listed projects during this period?

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Strange things you can buy from Taobao

Strange things you can buy from Taobao | by Naanga

    Netizens across China partake in the e-commerce frenzy that is the Singles Day Sale on November 11th, regardless of their relationship status. 11/11 online shopping sales reached RMB 168 billion (US$ 25 bn) with an increase of 39% YoY. More than 140,000 brands and hundreds of millions of consumers will participate in 11/11 this year. You can find almost anything – from the weird to the hilarious –for sale on the Taobao site. Here are some things you can actually buy on Taobao.

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Lennar and CalAtlantic enter $5.7 billion deal create the US’s largest homebuilder

Nov.12, 2017 | by Naanga

BEIJING, China — Lennar, the second-largest home builder in the United States, agreed Monday to pay $9.3 billion to acquire CalAtlantic. The stock-and-cash deal, valued at $51.34 per share, a 27 percent premium from Friday’s closing price, includes the assumption of $3.6 billion of CalAtlantic’s debt.

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