China
China’s Nuclear Scientists Unveil Latest ‘Breakthrough’
Ina Fassbender/Reuters Visitors ride a merry-go-round at the “Wunderland Kalkar,” a European nuclear fast breeder reactor that never went online and was eventually turned into an amusement park. More In Nuclear China Watch: Radiation Arrives, So Much for Soft Power Video: Hong Kong Parents Hoard Japanese Baby Formula Can Nuclear Power Be Safe? Debate Continues After China Arrests Salt Panic Culprit China Concrete Pumper Gets Into Nuclear Effort China says its nuclear industry has made a fresh technological breakthrough, which, even if it doesn’t immediately solve the country’s energy needs, underscores Beijing’s determination to be a leading font of knowledge about the controversial power source. The China Institute of Atomic Energy said Thursday that a small, experimental “fast breeder” reactor outside Beijing had been hooked to the grid to produce electricity. Essentially, the tiny 20 megawatt nuclear plant “863” is now helping satisfy China’s vast power needs. To supporters of nuclear power, fast-breeding is alluring. The idea is that it produces more plutonium than the plant needs to run, providing fissionable material usable elsewhere in the nation’s nuclear program. For China, which is long on nuclear ambitions but short on uranium , it’s an especially desirable technology. Yet the process hasn’t proved workable on a large scale elsewhere. Fast-breeder programs have been abandoned in a number of countries , including the U.S. , and the plants that remain are small. To some critics, it is a nuclear version of the “perpetual motion machine,” a seemingly problem-solving theory that doesn’t work well outside the laboratory. In a statement posted to its website ( in Chinese ) Thursday, China’s atomic institute said the advantages of fast-breeder reactors are that they save uranium and reduce nuclear waste. “The establishment of sustainable development of nuclear energy is important,” the statement said, noting that a number of industry dignitaries were on hand for the announcement. China’s nuclear engineers, of course, are operating in the aftermath of the Fukushima disaster, a game-changing event that would seem likely to make the industry more risk averse. In days after Japan’s March 11 earthquake-tsunami-nuclear crisis, Beijing defiantly pledged to continue with its huge nuclear rollout but quickly reversed course and said it would proceed cautiously. In fact, the grid hook-up to the experimental fast-breeder plant may underscore that caution, as Beijing spent a year testing the plant’s operations before linking it to the grid. Among the practical challenges associated with fast-breeders: they are potentially riskier than more conventional light-water reactors, relying on cooling of the reactor core with a potentially dangerous loop of flammable sodium, rather than water. Plus, the fuel input is essentially weapons-grade uranium, which is difficult to handle compared with the chemically stable material that powers most nuclear plants, namely uranium dioxide. The fast-breeder process also appears for China to be a degree more tricky to develop on a commercial scale than reprocessed fuel, another controversial technology the country says it is pursuing to address its uranium needs. Fast breeding is something new for China while the country’s military has long-term experience with reprocessing . Mark Hibbs, a nuclear expert at the Carnegie Endowment for International Peace, says he visited China’s fast-breeder reactor in the weeks after the Fukushima disaster. He describes it as a tiny “research reactor,” and says he got the sense officials planned to proceed extremely cautiously in building an 800-megawatt plant as scientists once discussed. Breakthroughs like fast breeder reactors might not result in commercially applicable programs any time soon, but in the age of Fukushima they may signal that China possesses world class nuclear power expertise. According to Mr. Hibbs, news of the efforts say, “Look, China is a high-technology nuclear country.” – James T. Areddy. Follow him on Twitter @jamestareddy
- Ina Fassbender/Reuters
- Visitors ride a merry-go-round at the “Wunderland Kalkar,” a European nuclear fast breeder reactor that never went online and was eventually turned into an amusement park.
China says its nuclear industry has made a fresh technological breakthrough, which, even if it doesn’t immediately solve the country’s energy needs, underscores Beijing’s determination to be a leading font of knowledge about the controversial power source.
The China Institute of Atomic Energy said Thursday that a small, experimental “fast breeder” reactor outside Beijing had been hooked to the grid to produce electricity. Essentially, the tiny 20 megawatt nuclear plant “863” is now helping satisfy China’s vast power needs.
To supporters of nuclear power, fast-breeding is alluring. The idea is that it produces more plutonium than the plant needs to run, providing fissionable material usable elsewhere in the nation’s nuclear program. For China, which is long on nuclear ambitions but short on uranium, it’s an especially desirable technology.
Yet the process hasn’t proved workable on a large scale elsewhere. Fast-breeder programs have been abandoned in a number of countries, including the U.S., and the plants that remain are small. To some critics, it is a nuclear version of the “perpetual motion machine,” a seemingly problem-solving theory that doesn’t work well outside the laboratory.
In a statement posted to its website (in Chinese) Thursday, China’s atomic institute said the advantages of fast-breeder reactors are that they save uranium and reduce nuclear waste. “The establishment of sustainable development of nuclear energy is important,” the statement said, noting that a number of industry dignitaries were on hand for the announcement.
China’s nuclear engineers, of course, are operating in the aftermath of the Fukushima disaster, a game-changing event that would seem likely to make the industry more risk averse.
In days after Japan’s March 11 earthquake-tsunami-nuclear crisis, Beijing defiantly pledged to continue with its huge nuclear rollout but quickly reversed course and said it would proceed cautiously.
In fact, the grid hook-up to the experimental fast-breeder plant may underscore that caution, as Beijing spent a year testing the plant’s operations before linking it to the grid.
Among the practical challenges associated with fast-breeders: they are potentially riskier than more conventional light-water reactors, relying on cooling of the reactor core with a potentially dangerous loop of flammable sodium, rather than water. Plus, the fuel input is essentially weapons-grade uranium, which is difficult to handle compared with the chemically stable material that powers most nuclear plants, namely uranium dioxide.
The fast-breeder process also appears for China to be a degree more tricky to develop on a commercial scale than reprocessed fuel, another controversial technology the country says it is pursuing to address its uranium needs. Fast breeding is something new for China while the country’s military has long-term experience with reprocessing.
Mark Hibbs, a nuclear expert at the Carnegie Endowment for International Peace, says he visited China’s fast-breeder reactor in the weeks after the Fukushima disaster. He describes it as a tiny “research reactor,” and says he got the sense officials planned to proceed extremely cautiously in building an 800-megawatt plant as scientists once discussed.
Breakthroughs like fast breeder reactors might not result in commercially applicable programs any time soon, but in the age of Fukushima they may signal that China possesses world class nuclear power expertise. According to Mr. Hibbs, news of the efforts say, “Look, China is a high-technology nuclear country.”
– James T. Areddy. Follow him on Twitter @jamestareddy
Reforms started in the late 1970s with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock markets, the rapid growth of the non-state sector, and the opening to foreign trade and investment.
Deterioration in the environment – notably air pollution, soil erosion, and the steady fall of the water table, especially in the north – is another long-term problem.
The People’s Republic of China is the world’s second largest economy after the United States by both nominal GDP ($5 trillion in 2009) and by purchasing power parity ($8.77 trillion in 2009).
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
Agricultural output has been vulnerable to the effects of weather, while industry has been more directly influenced by the government.
China has acquired some highly sophisticated production facilities through trade and also has built a number of advanced engineering plants capable of manufacturing an increasing range of sophisticated equipment, including nuclear weapons and satellites, but most of its industrial output still comes from relatively ill-equipped factories.
Over the years, large subsidies were built into the price structure, and these subsidies grew substantially in the late 1970s and 1980s.
Both forums will start on Tuesday.
China’s ODI growth witnessed strong momentum this year.
China is aiming to be the world’s largest new energy vehicle market by 2020 with 5 million cars.
Although China is still a developing country with a relatively low per capita income, it has experienced tremendous economic growth since the late 1970s.
Even with these improvements, agriculture accounts for only 20% of the nation’s gross national product.
Except for the oasis farming in Xinjiang and Qinghai, some irrigated areas in Inner Mongolia and Gansu, and sheltered valleys in Tibet, agricultural production is restricted to the east.
Livestock raising on a large scale is confined to the border regions and provinces in the north and west; it is mainly of the nomadic pastoral type.
China is one of the world’s major mineral-producing countries.
China is among the world’s four top producers of antimony, magnesium, tin, tungsten, and zinc, and ranks second (after the United States) in the production of salt, sixth in gold, and eighth in lead ore.
The largest completed project, Gezhouba Dam, on the Chang (Yangtze) River, opened in 1981; the Three Gorges Dam, the world’s largest engineering project, on the lower Chang, is scheduled for completion in 2009.
Beginning in the late 1970s, changes in economic policy, including decentralization of control and the creation of special economic zones to attract foreign investment, led to considerable industrial growth, especially in light industries that produce consumer goods.
The iron and steel industry is organized around several major centers (including Anshan, one of the world’s largest), but thousands of small iron and steel plants have also been established throughout the country.
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China’s Nuclear Scientists Unveil Latest ‘Breakthrough’
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
China
Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
Italy ratified an upgraded Double Tax Agreement (DTA) with China, effective in 2025, to reduce tax burdens, prevent evasion, and enhance investment. The DTA introduces modern provisions aligned with international standards, targeting tax avoidance and improving dispute resolution for Italian businesses.
Italy recently ratified the upgraded Double Tax Agreement (DTA), which will finally take effect in 2025. This agreement was signed in 2019 and was designed to reduce tax burdens, prevent tax evasion, and promote Italian investment in China.
On November 5, 2024, Italy’s Chamber of Deputies gave final approval to the ratification of the 2019 Double Tax Agreement (DTA) between Italy and China (hereinafter, referred to as the “new DTA”).
Set to take effect in 2025, the new DTA is aimed at eliminating double taxation on income, preventing tax evasion, and creating a more favorable environment for Italian businesses operating in China.
The ratification bill for the new DTA consists of four articles, with Article 3 detailing the financial provisions. Starting in 2025, the implementation costs of the agreement are estimated at €10.86 million (US$11.49 million) annually. These costs will be covered by a reduction in the special current expenditure fund allocated in the Italian Ministry of Economy’s 2024 budget, partially drawing from the reserve for the Italian Ministry of Foreign Affairs.
During the parliamentary debate, Deputy Foreign Minister Edmondo Cirielli emphasized the new DTA’s strategic importance, noting that the agreement redefines Italy’s economic and financial framework with China. Cirielli highlighted that the DTA not only strengthens relations with the Chinese government but also supports Italian businesses, which face increasing competition as other European countries have already established double taxation agreements with China. This ratification, therefore, is part of a broader series of diplomatic and economic engagements, leading up to a forthcoming visit by the President of the Italian Republic to China, underscoring Italy’s commitment to fostering bilateral relations and supporting its businesses in China’s complex market landscape.
The newly signed DTA between Italy and China, introduces several modernized provisions aligned with international tax frameworks. Replacing the 1986 DTA, the agreement adopts measures from the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the OECD Multilateral Instrument (MLI), targeting tax avoidance and improving dispute resolution.
The Principal Purpose Test (PPT) clause, inspired by BEPS, is one of the central updates in the new DTA, working to prevent treaty abuse. This clause allows tax benefits to be denied if one of the primary purposes of a transaction or arrangement was to gain a tax advantage, a move to counter tax evasion through treaty-shopping.
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in