d Expo, which runs from May 1 to October 31, 2010, and is expected to attract some 70 million people from around the world, Wulff said.Launched in 2003 and using German technology, the current maglev train rides on a 30-km-long magnetic cushion between suburban Shanghai and its international airport in Pudong New Area. It is part of the much discussed maglev system linking the country's financial hub and Hangzhou in East China's Zhejiang Province."German maglev technology is the most advanced in the world," Wulff said."The current section between Pudong airport and Longyang subway station is highly successful and has already served 10 million passengers."Heading a delegation of about 20 members, Wulff arrived in Shanghai on Monday night and lobbied Mayor Han Zheng yesterday to open a Lower Saxony representative office in the city."Companies from Niedersachsen realized the implications of globalization some time ago and are already active in the booming markets of the future," he said.As of last year, the state, located in the northwestern part of Germany and with a population of eight million, had invested 6 billion euros in China, and exported 1.1 billion euros worth of goods to the rising Asian power.As part of its efforts to intensify activities in China, NORD/LB, a major bank in northern Germany, which set up a branch in Shanghai in 2004, is applying for a local currency license.Hannes Rehm, chairman of the bank's board of management, said: "It's a continuation of our successful strategy in China."Wulff said he was also looking to lobby the municipal government to develop further cooperation with the city on shipping and exhibition affairs, as well as establishing a direct flight between Shanghai and Hanover, his state's capital.
May 7 - China's all-time high equity market needs "cool water and cool heads" after taking a 7-day Golden Week breather, otherwise the stock bubble runs the danger of a quick bust, experts said.Since its nine-percent correction in late February, the Shanghai A-share equities have now moved back up more than 40 percent, and no letup is seen on the horizon, buoyed by a series of successful initial public offerings as the ranks of investors swell at over 200,000 a day. There are now more than 91 million accounts held at brokers or mutual funds.Xia Bing,toms with laces for girls, director of the State Council's Development and Research Center's Finance Department, warned at a recent CCTV talk show program, that the stock market bubble is building. He and a string of other economists suggested investors take extra caution before jumping onto the bandwagon.And, analysts at BCA Research put it in a recent note to its customers: "We have no doubt if China's market continues to spike up, the stage will be set for a very violent drop."In late April, the People's Bank of China ordered the ratio of commercial banks deposits at the central bank be raised to 11 percent, but the measure failed to dampen the bullish market. The surge has continued. Many economists are anticipating another interest rate hike in May or June to stonewall the soar.Some critics argue the way the mainland IPO market is being run systematically fans the irrational expectations of a huge number of novice investors with the promise of easy and quick money, storing up trouble ahead.It is widely believed that mainland investors are mostly momentum-driven and ignorant of valuations, but they can see the IPO market is serving up a bargain,yellow and white toms. While stocks in the A-share market trade at stiff premiums to Hong Kong, dual-listed equities often continue to list at a discount in the mainland.The situation is due to the influence of the powerful China Securities Regulatory Commission (CSRC) which micromanages new listings, sets final pricing of IPOs and subsequent fund-raisings as well as deciding who gets to list, analysts said.For example,coffee brown toms, Bank of Communications recently listed at 7-20% cheaper in Shanghai than in Hong Kong, following a similar practice for China Life Insurance and Ping An Insurance.In most o Related articles:

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