- Will Hisense acquire Siemens’ traffic technology division?
- Vanished tennis star Peng Shuai allegedly reports via e-mail
- Express train from Yunnan to Laos
- Central bank funds “clean coal”
- Allianz takes full control of life insurer
- Prison sentence for Hong Kong democracy activist
- Opening of Taiwan office in Lithuania
- Johnny Erling: Cult of personality around Xi almost reaches Mao proportions
- New CEO for Beijing Foton Daimler Automotive
Names such as Kion, Putzmeister, Kuka, and Volvo are examples of high-profile, long-term acquisitions by Chinese groups in Europe. Now another one could be added: According to media reports, Hisense has expressed interest in the Siemens Mobility subsidiary Yunex. The standing offer is one billion US dollars. Given the rapid digitization of transportation in China, the acquisition would be particularly fitting, analyzes Finn Mayer-Kuckuk.
Chinese Wimbledon winner Peng Shuai has vanished without a trace over two weeks ago. Peng had publicly accused a top Chinese official of sexual abuse earlier this month. Since then, there has been no trace of her. In an email presumably written by Peng, the athlete states, “All is well.” But there are doubts about the authenticity of the message. But only internationally. And in the People’s Republic? Our colleagues in China report: Instead of trying to resolve the situation, Beijing is resorting to widespread censorship.
We also take a look at the railway project between Kunming and Laos. After six years of construction, China has completed the first high-speed rail line with an international connection, and the first trains are scheduled for December 2nd. Elsewhere, however, the People’s Republic’s ambitious railway plans are at a standstill, partly due to the Covid pandemic. But this won’t make Beijing change its plans, writes Frank Sieren – because the People’s Republic wants to pull neighboring nations close with a high-speed train network.
He notes: Five years after Xi Jinping was declared the “core” of the party, he is now sitting more firmly in the saddle than ever before. He lets himself be addressed as people’s leader, commander-in-chief, or China’s helmsman, almost the same way Mao was once described. However, he still has not received the highest honorary title: That the nation will honor him with the call 万岁, the wish that he will live for “ten thousand years”.
Have a great weekend!
Hisense interested in Siemens’ transportation technology division
The Chinese household appliance group Hisense is interested in acquiring Siemens’ transport technology division “Yunex”. This was reported by the Chinese business medium 21st Century Business Herald. Yunex Traffic, as the Siemens sub-company is known since July 2021, offers complete IT packages for traffic control. These include traffic lights and cameras, but also servers and software. This, in turn, fits in perfectly with Hisense’s TransTech division. Its president Zhang Sihai announced in an interview a steady international expansion. The acquisition price is reportedly one billion US dollars.
Siemens Mobility refused to comment on the report to Table.Media on Thursday. However, a takeover by Hisense would make sense, at least from a Chinese perspective. Rumors had already surfaced last week that Siemens was looking for a buyer for Yunex. Other bidders reportedly include Italian toll operator Autostrade and financial investor Bridgepoint. However, there has been no mention of Hisense as a possible buyer in the German press so far. Yunex is a subsidiary of Siemens Mobility, which manufactures trains, for example.
Digitization of traffic is in full swing
China’s urbanization is still in full swing. By 2035, 75 percent of the population is expected to live in cities. The current urbanization rate is still at 64 percent. Approximately 150 million people will therefore move from a rural to an urban environment in the coming years. However, cities are already suffering from traffic problems. Modern technology is supposed to help bring order to the chaos.