Sleek, silvery and ready to fly, Shanghai's 430kph magnetic-levitation train began its daily commercial operation yesterdayday, shooting out of its station amid high hopes for better -- and much more expensive -- commuting.
The opening came a year and a day after German Chancellor Gerhard Schroeder visited Shanghai for the maiden voyage of the German-built project.
PHOTO: AP
The first train yesterday pulled out at 8:32am from Longyang Station with 10 passengers aboard for the 7-minute, 20-second whoosh of a journey -- 30 kilometers to Pudong International Airport.
The price of an economy seat is 75 yuan (about US$9), and VIP seats cost 150 yuan (about US$18). Trains will run every 20 minutes daily.
Security guards stood by at the entrance. Passengers were required to go through airport-style security to board. Digital signs monitored the speed for passengers.
Based on German technology, the US$1.2-billion train connects Shanghai to its 3-year-old airport, the city's second.
The system underwent nearly a year of testing since it made an inaugural experimental run on Dec. 31, 2002, carrying Schroeder and former Chinese Premier Zhu Rongji. More than 200,000 people have ridden the train in weekend test runs since then.
German companies spent decades and billions of dollars developing maglev technology, but had searched in vain for a customer until Shanghai leaders picked the system as a way to highlight the city's high-tech ambitions.
Some have criticized it as an expensive prestige project with limited usefulness.
Sweeping policy changes under US Secretary of Health and Human Services Robert F. Kennedy Jr are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes in inoculation schedules and recommendations, investors and executives said. The administration of US President Donald Trump has in the past year upended vaccine recommendations, with the country last month ending its longstanding guidance that all children receive inoculations against flu, hepatitis A and other diseases. The unprecedented changes have led to diminished vaccine usage, hurt the investment case for some biotechs, and created a drag that would likely dent revenues and
Global semiconductor stocks advanced yesterday, as comments by Nvidia Corp chief executive officer Jensen Huang (黃仁勳) at Davos, Switzerland, helped reinforce investor enthusiasm for artificial intelligence (AI). Samsung Electronics Co gained as much as 5 percent to an all-time high, helping drive South Korea’s benchmark KOSPI above 5,000 for the first time. That came after the Philadelphia Semiconductor Index rose more than 3 percent to a fresh record on Wednesday, with a boost from Nvidia. The gains came amid broad risk-on trade after US President Donald Trump withdrew his threat of tariffs on some European nations over backing for Greenland. Huang further
Macronix International Co (旺宏), the world’s biggest NOR flash memory supplier, yesterday said it would spend NT$22 billion (US$699.1 million) on capacity expansion this year to increase its production of mid-to-low-density memory chips as the world’s major memorychip suppliers are phasing out the market. The company said its planned capital expenditures are about 11 times higher than the NT$1.8 billion it spent on new facilities and equipment last year. A majority of this year’s outlay would be allocated to step up capacity of multi-level cell (MLC) NAND flash memory chips, which are used in embedded multimedia cards (eMMC), a managed
CULPRITS: Factors that affected the slip included falling global crude oil prices, wait-and-see consumer attitudes due to US tariffs and a different Lunar New Year holiday schedule Taiwan’s retail sales ended a nine-year growth streak last year, slipping 0.2 percent from a year earlier as uncertainty over US tariff policies affected demand for durable goods, data released on Friday by the Ministry of Economic Affairs showed. Last year’s retail sales totaled NT$4.84 trillion (US$153.27 billion), down about NT$9.5 billion, or 0.2 percent, from 2024. Despite the decline, the figure was still the second-highest annual sales total on record. Ministry statistics department deputy head Chen Yu-fang (陳玉芳) said sales of cars, motorcycles and related products, which accounted for 17.4 percent of total retail rales last year, fell NT$68.1 billion, or