Last week had an 8:45am flight.
Subway starts at 9am. I have no idea where to catch an airport express bus. Eight taxis refused to go to the airport. After almost an hour standing on Beijing Lu took a black taxi, this dude drives slower than my mother, 120 yuan.
Flight back was delayed so I learned the subway stops running at 6:10pm.
Getting a taxi back was easy, more taxis than customers. Taxi was 87 yuan including 1o yuan toll, airport to Beichen area. Yes, he took a longer route than necessary.
Kunming imagines being a gateway for international travelers. New airport but hard to get to and from it.
World Class Airport, NOT!
Counting down Kunming's Top Ten Smells
发布者Geez, what a bunch of sensitive foreigners. Frankly, I love fresh durian, stinky tofu, hotpot and don't mind incense. I like nuoc mam too. Hate to ask but WTF are you guys doing in China?
Kunming's bike share options: A user guide
发布者Now that Bluegogo has gone Byebye, we can get an idea of who made money, and how, providing shared bikes. The unknown is the actual cost of the bikes, A Bloomberg article puts the Bluegogo cost at $400 USD (¥2640) each which I doubt. Mobike says their cost per bike is ¥1000 and other companies say between ¥300 to ¥600 per bike.
Using an exchange rate of 6.6 yuan/1 USD, here is Blugogo's take:
Investors poured in $58.1 Million USD.
20 Million riders forked up deposits, at an estimated ¥99 Yuan each, totaling a cool $300 Million USD.
Cost of 600,000 bikes varies:
Each ¥400 is $36.6 Million USD
Each ¥600 is $54.6 Million USD
Each ¥1000 is $91.2 Million USD
Each ¥2640 is $240.0 Million USD
Net cash flow to the PROMOTERS before salaries, rents and operating expenses
(Investors + Deposit less cost of bikes):
Bike cost each ¥400 is $321.5 Million USD
Bike cost each ¥600 is $303.5 Million USD
Bike cost each ¥1000 is $266.9 Million USD
Bike cost each ¥2640 is $118.1 Million USD
My guess is a bike cost of about ¥600 before kickbacks and over invoicing which leaves more than $200 Million USD for the PROMOTORS. Along the way a bank or two might have made working capital loans and a few nice cars were bought. To lower exposure some stock buybacks from selected investors might have been made. The secrets are all in the books of Bluegogo if they can be found or reconstructed. If I was still teaching Accounting I would use Bluegogo as a teaching tool.
Moral: In China forget profits, look at cash flows, big front money and promotor benefits for quick bankruptcy. Slam Bam, thank you mam, badabing, badabam and Adios!
China considering plan to make Xinjiang desert a new California
发布者Alien nailed it.
Yunnan scientists find fungus with an appetite for plastic in rubbish dump
发布者Think: the Andromeda strain
China to phase out fossil fuel cars, boost domestic electric vehicle industry
发布者@vicar: You make a good point and I agree. However, China has invested heavily in lithium battery production and the capacity online is no way near being used.
To me it is pretty much 1-2-3: 1 - China's lack of liquefied dinosaurs, 2 - A strong domestic demand for autos and the ability to meet that demand, and, 3 - A really relaxed attitude toward environmental concerns means lithium battery production is a lower cost deal in China.
Lithium batteries are really nasty things that, besides a tendency to go boom, have a lot of bad news byproducts that are hard to get rid of.