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China to launch high-speed railway
13 Jun 2011 15:06
SHANGHAI - China's much-anticipated high-speed railway linking Beijing and Shanghai is set to open this month, the government said Monday, shrugging off safety concerns after a recent corruption scandal.
'The technologies are advanced, the quality is reliable and safety is guaranteed. It is fully ready for operations and will open in late June,' vice rail minister Hu Yadong told a news conference.
One-way ticket prices will range between 410 yuan and 1750 yuan (US$63 and US$270) subject to further adjustments, he added, compared to about 1,300 yuan for a flight between the two cities.
Mr Hu said the trains would run between 250 and 300 kilometres per hour on the US$33 billion new link, although the line is designed for a maximum speed of 380 kph.
The speed is in line with a nationwide directive made public in April that said all high-speed trains must run at a slower pace than previously announced - no faster than 300 kph - to make journeys safer.
This followed a major corruption scandal in February that raised concerns over the costs and safety of China's high-speed rail links.
Then railways minister Liu Zhijun was dismissed after an investigation into 'serious disciplinary violations' - a term that usually results in criminal charges.
He had allegedly taken more than 800 million yuan in kickbacks on contracts linked to China's high-speed rail network.
A month later, China's state auditor revealed that construction companies and individuals had last year siphoned off 187 million yuan in funds meant for the Beijing-Shanghai link.
But the new railway is still highly anticipated, as a journey between the two cities may take only four and three quarter hours - two hours less than the fastest current trip by train.
The Beijing-Shanghai flight takes about two hours. But travel to the airports is in itself time-consuming, and the busy air route is often subject to delays and cancellations.
China has invested heavily in its high-speed rail network, which reached 8,358 kilometres at the end of 2010 and is expected to exceed 13,000 kilometres by 2012 and 16,000 kilometres by 2020. -- AFP
Unknown zone mean no action for me... lol
Looking attractive now. Are you going to take action??
Isolator ( Date: 13-Jun-2011 14:12) Posted:
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Unknown zone....
That is more reasonable, I think!
New123 ( Date: 13-Jun-2011 14:08) Posted:
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Well, it has to reach 80 cents 1st before it can go higher. Perhaps 90 cents and still going up.
Hulumas ( Date: 11-Jun-2011 15:31) Posted:
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Have you gotten your answer on my previous posting?
stockwinner ( Date: 13-Jun-2011 13:14) Posted:
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is now a good entry???
Why is it so little expectation from you?
New123 ( Date: 11-Jun-2011 14:20) Posted:
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I think by Dec hope to see it prices goes up to 80 cents...
Hulumas ( Date: 11-Jun-2011 13:06) Posted:
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Yes, it is about to bottom out, I intend to buy at the end of June 2011!
krisluke ( Date: 10-Jun-2011 10:19) Posted:
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Midas: Secures a Rmb62m contract from CNR Changchun for Shanghai's Metro Line. Co will supply aluminium alloy extrusion profiles for 41 train sets (246 train cars) from 2011 to 2013. Share price has seen a drop since breaking resistance at $0.92 in Feb when China’s railway minister was sacked for suspected corruption. Co now trades at fwd P/E 11.8x vs hist avg of 24x but counter is in firm downward trend. See nxt long-term support at $0.54 level.
awwww soo sad...but nvm lah..buy some to average down my exsisting shares i'm holding..hehe..
Isolator ( Date: 10-Jun-2011 10:09) Posted:
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May not be ready for rebound yet...
Good Luck! If it is able to breakout 66 cents then you may see it rises to 70 cents soon..
Jimmytai ( Date: 10-Jun-2011 09:03) Posted:
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went in at 0.655!
On Thursday, Midas re-test the support at $0.635 and closed at $0.64 with HIGH volume of 4.19 million shares traded.
A flat candle sticks with short upper/lower shadow affirms to indecisive from investors as bargain hunters come in.
Both RSI & MACD are bearish though RSI in oversold region.
Important Resistance of Midas: $0.665
Immediate Support of Midas: $0.635
Currently prices are resisted by 20 days MA at $0.665.
Today................. READ MORE
next target 0.78...
wao!!! go baby go go go!!!!!
no more building plants just manufacture.
MIDAS SECURES RMB62 MILLION CONTRACT FROM CNR CHANGCHUN
This contract is expected to have a positive impact on the Group’s financials for the financial years ending December 31, 2011 to 2013.