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STOCKHOLM, Jan. 26 (Xinhua) -- China's railway network, already the world's longest, is developing at record high speed and is to be doubled soon, Swedish daily Svenska Dagbladet reported on Wednesday."China's goal is to connect all important cities with railway lines," the report said.Collaborating with German Siemens, Japanese Kawasaki and Bombardier both in Canada and Sweden, China has built its own high-speed train CRH380A that can reach 486 kilometers per hour, cutting the journey between Beijing and Shanghai in half to about 4 hours.Construction of the high-speed railway network will also cover inland China, the report said. It aims to encourage more investment to move from coastal areas to inland China and ultimately raise the living standards in those regions.Within the next five years, a total of 3.5 trillion yuan (over 500 billion U.S. dollars) will be invested in high-speed track construction and train manufacturing, averaging at about 700 billion yuan (over 100 billion dollars) each year.Swedish companies such as Atlas Copco, SKF and Trelleborg have participated in China's railway and high-speed train development, according to the report.Hans Rosling, a development expert and also professor at Karolinska Institutet in Sweden, was quoted as saying that the construction of the high-speed railway network will bring about "good economy, good education, good medical care, better and longer life, all good things."
BEIJING, Feb. 24 (Xinhua) -- The Standing Committee of the National People's Congress (NPC) will vote on draft laws on vehicle and boat taxes at the end of its bimonthly sessions on Friday.The group is also expected to vote on protecting the nation's intangible cultural heritage and a draft amendment to the Criminal Law.The Chairperson's Council of the NPC Standing Committee adopted the decision at a Thursday meeting presided over by NPC Standing Committee Chairman Wu Bangguo.The three drafts will undergo further deliberation and revision based upon the opinion of the members of the NPC Standing Committee before the laws are put to a vote.Under the draft law on vehicle and vessel taxes, there will be a reduction in taxes for vehicles with engines smaller than 2.0 liters, which accounts for 87 percent of China's cars. Vehicle owners would also be required to submit tax certificates in order to qualify for a road-worthiness certificate.
SAN FRANCISCO, April 20 (Xinhua) -- Apple Inc. on Wednesday reported record second fiscal quarter results that blow out analysts'expectations, citing strong demands for its products.For its fiscal 2011 second quarter ended on March 26, Apple posted net income of 5.99 billion U.S dollars or 6.4 dollars per share, compared with 3.07 billion, or 3.33 dollars per share a year ago. Its revenue reached 24.67 billion dollars, compare with 13.5 billion in the same period a year earlier.Analysts polled by Thomson Reuters gave an average estimate of 5.35 dollars earning per share on revenue of 23.3 billion."With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO. "We will continue to innovate on all fronts throughout the remainder of the year."As the most valuable business for the company, Apple sold 18.65 million iPhones in the second quarter, representing 113 percent unit growth over the year-ago quarter. In February, Apple announced that iPhone4 would come on Verizon network, enabling it to attract some 90 million Verizon subscribers to adopt the popular smartphone.The company sold 3.76 million Macs during the quarter, a 28 percent increase over the year-ago quarter, and 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter.The company also sold 4.69 million iPads during the quarter, which is below analysts' projection. Analysts said Apple could have sold more tablets without supply constraints.Wall Street analysts estimated sales of iPad to reach about 6 million in the fiscal second quarter, alongside about 16 million iPhones and 3-4 million Macs.Apple also reported a gross margin of 41.4 percent compared to 41.7 percent in the year-ago quarter. Analyst said the decline of Apple's gross margins can be attributed to two reasons. One reason is the introduction of iPad in 2010 as it is a lower gross margin product than the iPhone. The other is the decline of iPhone margins over years.Supply chain related issues have been analysts' concern in the past quarter as Apple indicated in the Q1 earnings conference call that it could have sold more iPhones and faced some supply related issues. Meanwhile, the Japanese earthquake created more supply related issues for the company as its Japanese suppliers Mitsubishi Gas Chemical and Toshiba are both temporarily shut down to assess damage from the natural disaster.For the third fiscal quarter, Apple CFO Peter Oppenheimer gave an estimated revenue of about 23 billion and profit of 5.03 dollars per share.
DAVOS, Switzerland, Jan. 29 (Xinhua) -- China is ready to push the decade-long Doha Round negotiations for a final success, Chinese Minister of Commerce Chen Deming said here on Saturday.Speaking at the World Trade Organization (WTO) Mini-Ministerial Meeting which brought together representatives from over 20 major trading powers, Chen said that China is ready to collaborate with other WTO members in a practical and proactive manner so as to draw a successful conclusion of the Doha Round talks by the end of 2011.A rapid conclusion of the negotiations, Chen said, will be beneficial to global economic recovery, which is to the interest of all.The commerce minister acknowledged the year 2011 as a "window of opportunity," albeit a narrow one."China will give support to the roadmap proposed by WTO Director-General Pascal Lamy," he said, adding that the country is willing to act vigorously to push forward the negotiation process.To ensure that an early final deal could be in reach, Chen said, parties should set goals in a practical manner, in accordance with the ambition level, and stick to what has been achieved as well as the Doha Development Agenda (DDA), while focusing primarily on pending issues.Held on the sidelines of the annual World Economic Forum, the WTO Mini-Ministerial Meeting is an annual event under the auspices of the Swiss Federal Government.Chen on Friday also joined discussions with his counterparts from the emerging club -- India, Brazil and South Africa, before attending the trade G7 meeting, consisting of Australia, Brazil, China, the European Union, India, Japan and the United States.
SAN FRANCISCO, April 8 (Xinhua) -- YouTube on Friday launched YouTube Live, a homepage for live content on the site and a new live-streaming platform.As part of the service, the world's largest video-sharing website introduced a new browse page, www.youtube.com/live, where users can view live events and add upcoming events to their calendars.YouTube said it would gradually roll out a live streaming beta platform, which will allow certain YouTube partners with accounts to stream live content on the website.The new service will "integrate live streaming capabilities and discovery tools directly into the YouTube platform for the first time," YouTube said in a blog post.U.S. media recently reported that YouTube is planning a major overhaul and is negotiating with Hollywood and music producers for materials to offer on a lineup of new channels, with the aim to compete with broadcast and cable television.