China is planning to arrange container delivery to Europe with the help of Russian Railways. The parties founded a joint venture. China owns 51.1% of the stock. Other investors have equal shares (16.3% each).
The main goal of the joint venture is to arrange the delivery of Chinese goods from Chóngqìng (China) to Duisburg (Germany) on a regular basis.
According to the plan, over 5 800 TEU is expected to be delivered till the end of 2012. However, in 3 years, the volume will increase up to 50 000 containers. These days most companies prefer to deliver Chinese goods by see because it is cheaper.
The major advantage of railway deliveries is time. By delivering goods Form China to Europe through Russia and Kazakhstan, transporters save 10 to 15 days.
Forex.
According to , the Chinese Yuan has strengthened a little against the US Dollar. USDCNY is trading within a correction inside a major rally represented by wave а(С)/С of level Daily.
Even though the currency pair has broken below the MF sloping channel, it is too premature to talk about the end of the rally (there is no confirmation from the AO indicator). The current correction may well turn out to be wave B inside wave C.
In order to resume the uptrend, the currency pair will have to consolidate above 6,3938. If the AO confirms the break below the bottom of the MF sloping channel, we may consider a further downtrend only after the price breaks and consolidates below 6,2882.
