| (1) Malcolm Moore, China to Build the World's Largest Underground System: After rolling out almost 50,000 miles of expressways and 6,000 miles of high-speed rail lines, China is now turning its attention underground with the most extensive metro project the world has ever seen. Daily Telegraph, Nov 3, 2011 http://www.telegraph.co.uk/news/ ... rground-system.html Quote: "More than 1 trillion yuan (£100 billion) will be spent on building underground networks in 28 cities * * * Under the current projections, China will build the equivalent of 250 Circle lines by the end of the decade. "Twelve Chinese cities already have metro systems up and running - and Shanghai went from a standing start to having a bigger network than the London Underground in just 15 years. * * * 'all the metro lines currently in operation are losing money,' said Zhao Jian, a professor at Beijing’s Jiaotong university. Note: (a) China Communications and Transport association 中国交通运输协会 www.cctanet.org.cn (b) Circle line (London Underground) http://en.wikipedia.org/wiki/Circle_line_(London_Underground) (Year opened 1884; Line type Sub-Surface; Length 27 km (17 mi)) (b) Zhuzhou 湖南省 株洲市 http://en.wikipedia.org/wiki/Zhuzhou (c) XIE Weida 谢 维达 (2) (a) Chris Oliver, Beijing Owes $39.2 Bln to Railway Builders: Report. Market Watch (a brand of WSJ.com), Nov 3, 2011. http://www.marketwatch.com/story ... link=MW_latest_news (b) 张艳, 铁道部启动拖欠货款支付工作 一日还款过百亿. 京华时报, Nov 2, 2011. http://finance.huanqiu.com/roll/2011-11/2132854.html (3) Hao Di, High-Speed off Rails, Freight on. Global Times, Oct 27, 2011. http://english.peopledaily.com.cn/90882/7627862.html (4) Wei Gu and Robert Cyran, Low Cash Flow Threatens China. Reusters, Nov 3, 2011 (specially for New York Times in the column Reusters Breaking views) http://www.nytimes.com/2011/11/0 ... hreatens-china.html ("Despite strong growth in net income, operating cash flow deteriorated sharply in the first half of the year. Many companies lent more to customers to drum up sales as demand weakened") Note: (a) net income http://en.wikipedia.org/wiki/Net_income (Net income is informally called the bottom line because it is typically found on the last line of a company's income statement (a related term is top line, meaning revenue, which forms the first line of the account statement))(b) operating cash flow http://en.wikipedia.org/wiki/Operating_cash_flow (section heading: Operating Cash Flow vs. Net Income, EBIT, and EBITDA) |
