China to build more railways within major city clusters

(Xinhua)16:11, December 05, 2020

China plans to build about 10,000 km of new railway lines in its three major city clusters over the next five years to facilitate regional connectivity, the National Development and Reform Commission (NDRC) said Friday.

The country expects railway networks consisting of inter-city lines, as well as urban and suburban lines, to take shape in the Beijing-Tianjin-Hebei Region, Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area as of 2025, the NDRC said in a statement.

Upon completion, inter-city travel within these city clusters will take less than two hours, and the commuting time within the metropolitan areas will be cut to less than an hour.

Some 6,000 km of the planned railways will be built in the next three years, according to the NDRC.

Accelerating the construction of inter-city railways, as well as urban and suburban lines, will serve as a key support for the coordinated regional development in these regions and shore up weak links in regional connectivity and transportation, said the statement.

China will continue to advance coordinated regional development and a new type of urbanization, according to the Communist Party of China Central Committees proposals for formulating the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

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Chinas road logistics price index up in November

(Xinhua)13:18, December 06, 2020

Chinas road logistics price index rose in November from the same period last year, industrial data showed.

The index came in at 98.5 points, slightly down from the previous month, but up 0.7 percent from a year earlier, according to the China Federation of Logistics and Purchasing and the Guangdong Linan Logistics Group.

Chinas road logistics price index is based on the average price in the last week of December 2012, with the monthly index starting point at 100.

Romantic fantasy The End of Endless Love leads Chinas daily box office

(Xinhua)15:47, December 06, 2020

Chinese romantic fantasy film The End of Endless Love topped the Chinese mainland box office chart on Saturday, raking in roughly 54.7 million yuan (8.35 million U.S. dollars), data from China Movie Data Information Network showed Sunday.

Starring a cast of young and popular faces, the romance follows a young man who has the superpower of using his voice to make others happy and falls in love with an internet celebrity battling autism.

With Guo Jingming, a popular Chinese romance writer, as a scriptwriter, the film saw its total box office exceed 100 million yuan within two days after release.

Ranked second was Soul Snatcher, a domestic production revolving around a mythological story between a young man and a fox that possesses the power to shape-shift. The film generated about 46.5 million yuan on Saturday.

U.S. animated comedy The Croods: A New Age came in third by grossing nearly 36 million yuan, taking its total earnings to 202 million yuan after nine days of release.

Global CFOs upgrade Chinas economic outlook in Q4 rating survey

(Xinhua)08:35, December 07, 2020

Aerial photo taken on June 21, 2018 shows the morning view of the Lujiazui area in Pudong, east Chinas Shanghai. (Xinhua/Ren Long)

Those CFOs responding to this quarters survey feel more optimistic about the Chinese economy as the country is embracing a steady economic recovery from the COVID-19 pandemic.

WASHINGTON, Dec. 6 (Xinhua) — Global chief financial officers (CFOs) have upgraded Chinas economic outlook to Modestly Improving in the last quarter of the year from Stable in the third quarter, showed a recent survey by the CNBC Global CFO Council.

The council, which gathers around 150 CFOs of some of the largest public and private companies in the world, said those CFOs responding to this quarters survey feel more optimistic about the Chinese economy as the country is embracing a steady economic recovery from the COVID-19 pandemic.

Photo taken on July 16, 2020 shows a container dock in Tangshan City, north Chinas Hebei Province. (Xinhua/Yang Shiyao)

Meanwhile, the CFOs have also improved the economic outlook for the United States, Canada and Britain from Modestly Declining to Stable, showed the survey released Wednesday.

In the current quarter, Japan, the rest of Asia and the Eurozone maintained their rating of Stable, whereas Africa, the Middle East, Latin America and Russia maintained their rating of Modestly Declining, the survey said.

Around 65 percent of the CFOs surveyed regard the pandemic as the biggest external challenge for their companies, while some 86 percent believe that the hope of a widely available COVID-19 vaccine by next year and the current surge in confirmed cases have the greatest impact on their companies plans for 2021, it added.

Performance of Chinas securitization transactions regains foothold report

(Xinhua)09:07, December 07, 2020

BEIJING, Dec. 6 (Xinhua) — The performance of securitization transactions in China continues to improve as indicated by lowering delinquencies and rebounding prepayments, Fitch said in a report.

The rating agency has attributed the improvement to the countrys healthy economic recovery.

Auto asset-backed securities (ABS) appeared to have shrugged off pandemic stresses as key indicators return to pre-pandemic levels, Fitch said.

Supported by falling unemployment and rising incomes, the annualized gross loss (AGL) index for auto ABS edged down, and the 31-60 and 61-90 days past due stayed low at 0.1 percent and 0.07 percent in September.

The AGL for residential mortgage-backed securities (RMBS) fell to 0.36 percent in September, after seeing unusual twin peaks of 0.5 percent and 0.54 percent in August and May mainly due to transactions defaults after delinquency.

The conditional prepayment rate for RMBS and consumer loan ABS rose above the normal level in the third quarter of the year supported by active property transaction volume and rising income, said the report.

Securitization is the process of transforming illiquid assets, including outstanding loans and receivables, into securities, which frees up idle assets in the banking system.

The Chinese government has placed increasing emphasis on such deals to improve the efficiency of capital use and stimulate lending to the real economy.

Infrastructure projects funded by public-private partnerships have been allowed to raise funds through securitization, and pilots have been expanded for banks to securitize bad loans.

China realizes secure, stable quantum communication network spanning 4,600 km

(Xinhua)09:20, January 07, 2021

HEFEI, Jan. 7 (Xinhua) — Chinese scientists have set up an integrated quantum network that combines 700 fiber and two ground-to-satellite links and realized quantum key distribution (QKD) between more than 150 users over a combined distance of 4,600 km.

Led by Pan Jianwei from the University of Science and Technology of China, the research was conducted by a group of scientists over the past few years. The research paper has been published online in the journal Nature.

The network consists of four quantum metropolitan-area networks (QMAN) including Beijing, Jinan, Hefei and Shanghai, a backbone fiber link spanning over 2,000 km, and two ground-satellite links that connect Xinglong ground station in Beijing and Nanshan ground station in northwest Chinas Xinjiang Uygur Autonomous Region, separated by 2,600 km. Xinglong is also connected to the Beijing QMAN via fiber, according to the paper.

In the future, quantum communication will be applied in fields of finance, political affairs and national defense. A whole industry chain and eventually a truly secure quantum internet will be possible, said Pan.

The paper describes the largest, most advanced QKD network on Earth — multiple metropolitan networks linked by a backbone network of a scale beyond anything developed previously, with links to the only known operational QKD satellite, said the reviewer of Nature about the paper.

This is significant and of interest to anyone in the field of QKD, network security and the wider audience who appreciate large-scale futuristic engineering achievements. The scale of the demonstration is, by all means, impressive, the reviewer added.

Based on the laws of quantum physics, quantum communications have ultra-high security. It is impossible to wiretap, intercept or crack the information since the quantum state of a photon that transmits data along optical fibers will collapse once it is wiretapped.

In the quantum network, several services such as video calls, audio calls, faxing, text transmissions and file transmissions have been realized for technological verification and real-world demonstrations. Chinese businesses, including two banks, have used the network.

However, it is still expensive for average people to use the network at the moment, but it will be put into commercial use in the near future as cyberattacks are increasingly becoming a threat.

A global quantum network can be realized by connecting more national quantum networks from different countries via ground connections or ground-satellite links, as proven in the research.

Chinas scientific and technological workers have made great efforts to catch up in quantum science and technology and made a number of significant innovations with international influence over the past few years.

Among the three prominent quantum research aspects — computing, precision measurement and communication — quantum communication is most likely the first to be applied, according to Pan.

In 2016, China launched the worlds first quantum satellite, Quantum Experiments at Space Scale (QUESS), which was named Micius after an ancient Chinese philosopher and scientist who has been credited as the first person to conduct optical experiments.

The 2,000-km backbone fiber link, the first of its kind worldwide using a trusted relay structure with 32 relay nodes and 31 links, was opened in 2017 between Beijing and Shanghai, with Hefei and Jinan in between.

The QUESS and Beijing-Shanghai quantum communication line have paved the way for the realization of the integrated space-to-ground quantum communication network.

First detector array put into use at Chinas new-generation cosmic ray observatory

(Xinhua)17:10, January 07, 2021

BEIJING, Jan. 7 (Xinhua) — The first detector array at the Large High-Altitude Air Shower Observatory (LHAASO), sitting 4,410 meters above sea level, has been built and put into operation in the wilderness of Daocheng, southwest Chinas Sichuan Province.

According to the Institute of High Energy Physics (IHEP) of the Chinese Academy of Sciences (CAS), the water level at the No.3 pond has reached the required standard, which means the construction of the Water Cherenkov Detector Array (WCDA) has been completed.

In the pond, water Cherenkov detectors are installed to form an array and are submerged in strictly purified water. Transparent pure water allows the detectors to clearly catch the signals generated by high-energy particles.

The WCDA, comprising three ponds, has 3,120 detector units and 6,240 photosensitive probes. It is like pulling up a sky net on the plateau to observe the light produced by the particles in the water.

Cao Zhen, a chief scientist of LHAASO and researcher at the IHEP, said that worldwide the effective detection area of the WCDA at LHAASO is four times larger compared to the next-largest device of its kind. It can detect gamma-ray bursts, fast radio bursts, gravitational wave electromagnetic counterparts and other high-energy radiation signals with transient characteristics inside and outside the galaxy.

Besides the WCDA, LHAASO is designed to have wild-field Cherenkov telescopes, muon detector array and electromagnetic particle detector array, which are expected to make it a world-renowned cosmic ray research center.

Discovered in 1912, cosmic rays are still largely an enigma. They are direct samples of matter from outside the solar system. Physicists are still pondering where they come from and how they can be accelerated to ultra-high energies.

Since most cosmic rays are charged, their paths through space are deflected by magnetic fields. On their journey to Earth, the magnetic fields of the galaxy, the solar system and Earth scramble their flight paths so much that we are unable to know exactly where they came from.

Many countries have invested heavily in the study of cosmic rays. China, the United States, Russia, Japan, Germany and other countries have established observation stations.

Chinas cosmic ray detection began in the early 1950s. Chinese scientists built the countrys first cosmic ray observatory on a 3,200-meter-high mountain in southwestern province of Yunnan.

Daocheng was chosen to build the new-generation cosmic ray observation base due to its high altitude, convenient transport, stable power supply and sufficient water resources.

Infrastructure construction started in July 2016, and the building of the observatory officially began in June 2018. The main objective of LHAASO is to search for the origin of cosmic rays and study their acceleration and transmission mechanisms.

According to Cao, the LHASSO project has drawn world attention. Some scientists and international research teams have expressed the desire to conduct cooperation and joint observation with LHASSO.

Chinese space scientists use water heat to charge mobile phone

(Xinhua)16:25, January 08, 2021

BEIJING, Jan. 8 (Xinhua) — What if you could charge your mobile phone without conventional electricity, but with a bottle of hot water instead? Space thermoelectric technology could soon make this sustainable solution a reality.

Thermoelectric devices are made from materials that can convert a temperature difference into electricity. Previous researches have suggested that thermoelectric devices can harvest wasted heat and produce electrical energy to back up the battery on spacecraft.

Chinese scientists are now hoping to take advantage of space thermoelectric technology to benefit peoples daily life.

Researchers at the China Academy of Launch Vehicle Technology, one of the countrys rocket makers, have developed a type of insulated water bottle equipped with a thermoelectric chip that can turn water heat into electricity to charge a mobile phone.

As mobile phones have gotten more powerful processors and larger touch screen interfaces, their power requirement has correspondingly increased. However, people often face the problem of charging their phones, especially when traveling on trains or camping in mountains, said lead researcher Ma Wei.

Our solution to this problem is a water bottle-based thermoelectric device, a heat source to generate electricity, Ma said, adding that the invention does not require any electrical sources.

A demonstration video showed that the thermoelectric device was embedded in the bottle cap, which has a USB charging port on it. When a researcher connected an iPhone to the bottle with a cable, the battery icon on the screen appeared green with a lightning bolt indication in the middle.

We have found that the water bottle can provide 20 to 30 minutes of electricity after we poured 300 to 500 milliliters of boiling water into it, said Sheng Jiang, a member of the research team.

The bottle can also provide electricity for laptops, cameras and other low-power household appliances.

Researchers are now seeking to forge cooperation with enterprises to market the concept. The product is likely to be priced from 150 yuan (about 23 U.S. dollars) to 200 yuan.

A thermoelectric chip might make the bottle 200 grams heavier than the same size product on the market, but Sheng said it would be easy to carry as researchers have reduced the bottle weight by the use of a light heat insulation material, originally created for spacecraft, to replace stainless steel container.

Emphasizing the safety of the invention, Sheng said it produces low voltage and has no risk of short circuit.

China to add 600,000 5G base stations in 2021

(Xinhua)09:29, December 29, 2020

BEIJING, Dec. 28 (Xinhua) — China will build more than 600,000 5G base stations next year, said Xiao Yaqing, minister of industry and information technology at a working conference on Monday.

In 2021, the ministry will promote the construction and application of 5G networks in an orderly manner, accelerate the 5G coverage in major cities and advance co-construction and sharing.

It will focus on 10 key industries, form 20 typical industrial application scenarios, carry out industrial 5G network pilot projects and timely release 5G millimeter wave frequency plans for some frequency bands, said Xiao.

More efforts will be made to optimize and upgrade the network, increase the number of gigabit network users to more than 200 million, and crack down on infringements of users rights and interests by apps.

Xi calls for closer partnership with Argentina

(Xinhua)12:14, January 04, 2021

BEIJING, Jan. 4 (Xinhua) — Chinese President Xi Jinping said that China stands ready to work with Argentina to promote high-quality Belt and Road cooperation and advance the building of a community with a shared future for mankind.

China attaches great importance to bilateral ties, Xi said in a recent exchange of letters with Argentine President Alberto Fernandez, urging concerted efforts to sustain and deepen the development of the China-Argentina comprehensive strategic partnership.

Xi noted that since Fernandez took office, they have talked over phone and had multiple exchanges of letters, and have reached important consensuses on deepening bilateral relations and strengthening cooperation in areas such as battling the COVID-19 pandemic.

The pandemic is a severe test for the whole world, Xi said, adding that in the face of the disease, the two nations have stood together and helped each other, and their traditional friendship has been further elevated in the joint battle.

China, he said, stands ready to strengthen cooperation with Argentina in research, development and application of COVID-19 vaccines, and will continue to provide as much support and assistance as its capacity allows for Argentinas fight against the pandemic.

For his part, Fernandez spoke highly of the development of bilateral relations and Chinas achievements in containing the pandemic, and thanked China for supporting Argentinas fight against COVID-19.

Facing the impact of COVID-19, countries should show solidarity, as well as mutual respect and support, and commit themselves to building a community with a shared future for mankind, a notion put forward by Xi, he said.

The Argentine president noted that China has accomplished its poverty alleviation target as scheduled and scored remarkable achievements in science and technology, bringing benefits for the Chinese people and the world at large.

He also said that both Argentina and China uphold multilateralism, support inter-state dialogues, and strengthen regional dialogues, so as to achieve harmonious development.

The Belt and Road Initiative is conducive to deepening connectivity and mutual understanding between the two countries, Fernandez said, adding that his country stands ready to strengthen cooperation with China in areas including vaccines, and to jointly push for greater development of their comprehensive strategic partnership.