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China builds world’s first high-speed train passing through sea tunnel

China is building the world’s first high-speed train that can travel through a sea tunnel at a speed of 350 kilometers per hour in Shantou Bay, South China’s Guangdong Province.

The 163-kilometer-long railway, which includes a 9,781-meter-long tunnel, has officially entered the substantive construction stage, with an investment estimated to be at 11 billion yuan ($1.6 billion), the China Central Television reported Tuesday. 

According to the report, the tunnel will pass through 17 fault rupture zones in a magnitude-8 earthquake zone, of which eight are active faults, the first underwater tunnel of its kind anywhere in the world.

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Most parts of the tunnel are located in high water pressure areas. As a result, construction personnel have to adopt measures to ensure that the tunnel structure is safe, waterproof and reliable, and that operating costs are controllable.

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Ant Group, ByteDance become world’s highest-valued unicorns: Hurun report

By the end of March China had the world’s second-highest number of unicorns, private companies whose valuations exceed $1 billion, according to the Hurun Global Unicorn Index 2020 list released by the Hurun Research Institute on Tuesday.

Among the world’s 10 highest-valued unicorns, six are Chinese companies. Alibaba’s financial arm Ant Group is the world’s largest unicorn with a valuation of $1 trillion. ByteDance, which has recently been facing a crackdown from the Trump administration, is the second highest with a valuation of $560 billion, the list showed. 

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Chinese tech firms Didi Chuxing and Kuaishou were also among the top 10. 

In total, there are 586 unicorn companies in the world, up 82 from the same time last year. 233 are US companies, making it the country with the most unicorns. China is in second with 227, followed by the UK and India. 

Unicorns in China and the US collectively account for about 80 percent of the world’s total.

The list also showed that Beijing is the “capital” of global unicorns, being home to 93, largely outnumbering San Francisco’s 68. 

Watch out for those Chinese stocks, ready for a prolonged surge.

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Huawei ramps up ‘genius’ hunt amid US chip ban

Huawei’s has accelerated its recruitment of “geniuses” from around the world as it faces intensified external pressure and a US chip ban, with one new Chinese graduate receiving a top salary of 2.01 million yuan ($287,949).

The recruitment program, reportedly directly initiated by Huawei founder Ren Zhengfei last year, has been described by analysts as a well-planned countermove amid US bullying and a technological battle with US counterparts that is expected to last for some time.

Huawei last year said that it would hire 20 to 30 top young graduates from all over the world, and that number would increase annually to enhance the team’s abilities.

Huawei’s recruitment standards for “genius youngsters” are very strict and generally require seven steps: resume screening, written examination, initial interview, supervisor interview, several ministerial interviews, president interview and human resources interview. 

Salaries for successful candidates are divided into three ranks. Thus far, only four have been offered the program’s highest salary globally.


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Huawei launches ‘Nanniwan’ project to shun US technologies

As part of a backup plan to deal with the US’ technology crackdown, Chinese tech giant Huawei has reportedly kicked off a project called “Nanniwan”南泥湾, the same name as a revolutionary site in Northwest China’s Shaanxi Province, which will focus on gadgets that shun US technologies. 

A large-scale production campaign was launched in Nanniwan during the War of Resistance against Japanese Aggression, aiming to tackle economic hardships, achieve self-sufficiency in production and insist on a protracted war against Japanese aggression. 

Using the name Nanniwan for the project shows that Huawei aims for self-sufficiency in tough times, news site chinastarmarket.cn reported Tuesday. 

Laptops, smart television displays and home automation products powered by the internet of things that fall into the category of being entirely unaffected by the US restriction policy are included in the project, the report said.

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