- China’s State Power Investment Corp (SPIC) has officially launched the CAP1400 reactor design.
- This includes main pumps, valves, pressure vessels, steam generators, reactor internals, control rod drive mechanisms, large forgings, nuclear-grade welding materials, 690 U-shaped pipes and other key equipment.
- The CAP1400 can be used for non-power applications, such as heat, steam supply, hydrogen production and desalination.
- China is constructing a reactor to provide solely district heating, which he said will improve the environment, especially in this northern area of the country.
- The CAP1400 power generation costs are 6 cents/kilowatt and USD6 per gigajoule of heat.
- The CAP 1400 is the second third-generation nuclear technology China has developed.
- China could also make significant progress toward closing the nuclear fuel cycle by developing facilities to reprocess uranium (like in France and Japan) and with fast breeder reactors.
China contained Covid-19. Now, hundreds of millions of people there are about to go on vacation at the same time
- Two days before Lunar New Year's Day, the Chinese government ordered an unprecedented lockdown on the city, but by then, the virus had already spread to other provinces and beyond the country, as hundreds of millions of Chinese people headed home for family reunions or took vacations overseas.
- In a sign of the government's confidence in keeping the virus under control, the Chinese Center for Disease Control and Prevention said last week that domestic travels can be arranged "as normal" for the upcoming holiday, given all cities in mainland China are marked as low risk for the coronavirus.
- But the center still recommended travelers obey local epidemic control measures, wear masks on trains, flights and in crowded places, and keep 1-meter (3.2 feet) distance at tourist spots -- the last of which could be difficult if not impossible to observe, given the size of crowds that often inundate popular sites during Chinese holidays.
US intelligence agencies have 'not sufficiently adapted' to counter China, congressional report warns
- The Trump administration has recently indicted several Chinese individuals and entities for alleged espionage and intellectual property theft -- actions that are also highlighted in the committee report, which notes that in 2019 alone, three former Intelligence Community officers were charged by US prosecutors and sentenced to prison "for delivering or seeking to deliver classified information" to China's intelligence services.
- President Donald Trump has highlighted his administration's aggressive posture toward China as a core tenet of his reelection campaign but that message has, at times, been muddied by claims of Beijing's efforts to interfere in the upcoming presidential election that go well beyond what the intelligence community has said publicly.
- Evanina went on to say, "China will continue to weigh the risks and benefits of aggressive action," but to date has primarily engaged in overt efforts like ramping up public criticism of the current administration over non-election-related issues, including its coronavirus response and move to close Beijing's consulate in Houston.
ASX to rise, Wall St rallies, iron ore leaps
- The STOXX 600 closed out a volatile third quarter nearly flat, and posted a 1.5% decline for September as worries about a second wave of COVID-19 infections hampering Europe's economic recovery and doubts about a Brexit trade deal came to the fore.
- Hong Kong shares ended higher on Wednesday as sharp gains in China Evergrande Group boosted property stocks, after the developer secured investments to ease some of its liquidity crunch worries.
- China shares closed lower on Wednesday as losses in real estate and materials stocks outweighed optimism from upbeat factory activity surveys, with the markets recording their worst monthly loss since May 2019.
- Sterling rallied in late London trading on Wednesday as market makers adjusted their positions on the last day of the month and the third quarter.
World leaders pledge to protect nature – will it make a difference?
- It has been a big week for talk about tackling our destruction of nature.
- “We need to respect nature, follow its laws and protect it,” said China’s president Xi Jinping at a virtual UN biodiversity summit today.
- However, he stopped short of a biodiversity equivalent of his significant climate announcement last week, pledging that the country would achieve carbon neutrality before 2060.
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In Trump-Biden debate chaos, China is the big winner
- But while Beijing would rather not be a topic at all in the United States election, and this rare consensus represents a growing anti-China strain in Washington, the debate as a whole will have raised spirits in the Chinese capital.
- For decades, Beijing has criticized US-style democracy, holding up (very real) flaws in the American system as vindication for Chinese authoritarianism.
- During an extended barrage of misinformation toward the end of the debate, Trump attacked mail-in voting and urged his supporters "to go into the polls and watch very carefully" for what he implied could be an attempt to steal the election.
- If Americans are feeling demoralized after Tuesday night's chaos, how easy will it be for critics of the US -- in China, Russia and elsewhere -- to seize on the debate to make their points, whether about problems with Washington, or the very system of democracy itself?
Volatility only winner in Trump-Biden showdown
- The firming prospect of a Biden White House emerging from a chaotic and uncertain election seems a fitting coda to a year of gut-churning volatility triggered by a global pandemic that's claimed more than 1 million lives.
- It says a lot about the evolving global balance of power that as both presidential candidates crank up the name-calling and blame-shifting about the degraded state of the US economy, China's leadership will debate ideas about how to build a nation over the next decade-and-a-half.
- Although some argue a spike in volatility will boost the US dollar as a safe-haven play, the greenback has been on the nose given the relatively weaker recovery and policy response compared with Europe and China.
- The risk for the greenback is if the US election does descend into chaos, providing investors cause to consider whether the US dollar retains the same prestige it used to — just like the inhabitant of the Oval Office.
Chinese kindergarten teacher sentenced to death for poisoning 25 students with nitrite-laced porridge
- Hong Kong (CNN) - A kindergarten teacher who poisoned 25 children, killing one of them, after an argument with a rival staff member has been sentenced to death by a court in central China.
- At the time of the 2019 kindergarten poisoning, one parent told China's state-run tabloid Global Times he had received a call from the kindergarten saying his child had vomited and fainted.
- Eight parents claimed to have found unknown needle marks on their children's heads and bodies after they returned from Dingqi kindergarten in Hohhot, in the autonomous region of Inner Mongolia, state media Xinhua said.
- The Dingqi kindergarten said in a statement that while the school apologized for the concern and worry caused to parents, it had not yet found any evidence to substantiate the claims.
- Police said the teacher, surnamed Liu, was using the needles to "tame" children, according to state-run tabloid Global Times.
ASX to rise, global equities rally
- A surge in HSBC after its largest shareholder boosted its stake and an upbeat outlook from spirits maker Diageo, combined with strong economic data from China, lifted London's FTSE 100 index on Monday.
- The blue-chip index closed up 1.5% as Asia-focussed lender HSBC Holdings jumped 8.9% after Chinese insurance group Ping An boosted its stake to 8%.
- China's Ping An Insurance Group, which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC's long-term prospects, a spokesperson said.
- China's blue-chip index inched up on Monday, as industrial firms posted profit growth for a fourth straight month in August, pointing to a continued recovery in the world's second-largest economy from the coronavirus crisis.
- Iron ore prices were mostly higher on Monday due to active buying in the physical market by mills who were restocking ahead of the week-long National Day holidays in China, sources told FastMarkets MB.
Is China behind Barbados's move to ditch the Queen?
- London | British Prime Minister Boris Johnson's advisers have accused Beijing of "chokehold" tactics in the developing world, following Barbados's move to ditch the Queen as its head of state from next year.
- The republican push in the Caribbean nation of 287,000 people has stoked the British Conservative Party's rising concern about China's enhanced global clout and its use of cheap loans to gain political leverage.
- Philip Murphy, director of the Institute of Commonwealth Studies, said he hadn't seen "any persuasive evidence of cause and effect" linking Barbados's announcement either to Chinese pressure or to the Black Lives Matter debates.
- British MPs say Beijing's 'debt diplomacy' puts a 'chokehold' over poorer countries, but the Caribbean island's republican push has had a long gestation.