Called for wearing a mask during the "Spanish flu" 100 years ago too

Recently NHK News On-line reported the following:

100年前の「スペインかぜ」でもマスク着用など呼びかけ

2020年6月15日 6時04分

新型コロナウイルスの感染が続くなか、防衛研究所がおよそ100年前に流行したスペインかぜについての旧日本軍が保存していた資料を調べたところ、いまと同様にマスクの着用を呼びかける文書などが見つかり、公開されることになりました。

今から100年余り前、世界的に流行した「スペインかぜ」は、日本国内でも1918年の秋から1921年の春までに流行が3回あり、およそ39万人が死亡したと当時の内務省が記録しています。

新型コロナウイルス対策に役立てられないか、防衛研究所が旧日本軍が保存していた資料を調べたところ、初代の軽巡洋艦「矢矧（やはぎ）」の日誌で記録が見つかりました。矢矧が、シンガポールを出港した直後に艦内でまん延し、乗員の1割以上にあたる48人が死亡したことや、次の寄港地で艦内の消毒を徹底したことなどが記されています。

また、内務省衛生局が国民に感染予防を呼びかけた別の資料では、映画館など人が集まるところに立ち入らないことや、電車ではマスクを着用すること、それに人前でせきをする際は、ハンカチで口を覆うことなど、いまと同様の対応を求めていました。

資料を調べた防衛研究所の菅野直樹史料室長は「病気を広めないという意味で、100年前の常識と今の常識がそんなに変わっていないと感じた」と話しています。

こうした資料は、16日から東京・市ヶ谷にある防衛研究所で閲覧を予約した人を対象に公開されます。

Translation

While the new coronavirus infection continued, the Institute of Defense examined the data kept by the former Japanese army about the Spanish flu that was epidemic about 100 years ago, and documents such as calling for the wearing of masks similar to the current situation were found, and the doucment be made available to the public.

About 100 years ago, the world-famous "Spanish flu" had three outbreaks in Japan from the fall of 1918 to the spring of 1921, killing about 390,000 people, the Ministry of Home Affairs at that time had made a record on that.

In order to see if masks could be used as a countermeasure against the new coronavirus, the Defense Research Institute examined the materials stored by the former Japanese Army, a record was found in the diary of the first-generation light cruiser "Yahagi". Immediately after leaving the port of Singapore, in Yahagi the new coronavirus spread throughout the ship, killing 48 people, more than 10% of the crew, and a thorough disinfection of the ship was done at the next port of call.

Also, according to another document of the Ministry of Internal Affairs of Japan which called on the public to prevent infections, it asked for staying out of areas with people gathering such as movie theaters etc.,  to wear masks on trains, and to use a handkerchief to cover the mouth when coughing in front of people, all were the same response as those now being asked for.

Naoki Sugano, director of the Defense Research Institute who investigated the materials said, “I felt that the common sense of 100 years ago and the common sense of today are not that different in the sense that not to spread the disease”.

These materials would be open to the public from the 16th for those who had booked for viewing at the Defense Research Institute in Ichigaya of Tokyo.

              So, Japan was using common sense to deal with the “Spanish flu” one hundred years ago.

中國的財富產品市場遭受3.5萬億美元損失

Yahoo Finance on 19 June 2020 reported the following:

China’s $3.5 Trillion Wealth Product Market Suffers Losses

Bloomberg Bloomberg News,Bloomberg 8 hours ago

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 (Bloomberg) -- Chinese investors and savers just experienced something that’s never happened before: losses on some of their 25 trillion yuan ($3.5 trillion) state bank issued high-yield wealth management products.

 Those came as the worst Chinese bond rout in a decade colluded with a push by regulators to transform the nation’s wealth market. They are doing away with products that offer guaranteed returns to tamp down on a key source of leverage and risk at the nation’s lenders.

 As traders cut bets on the potential for more stimulus from the central bank, government bond yields soared this month, driving the net asset value on more than 280 low-risk, bond-linked WMPs, or about 3% of the market, below the initial 1 yuan value, according to Chinawealth.com, an official site tracking the industry.

 That left many retail investors with accounts flashing red for the first time, and some flocked online to demand explanations and to be made whole. On one consumer-protection website, hundreds of angry investors blasted their banks for the unexpected losses and opaque marketing. Previously, in the guaranteed return era, the banks would have absorbed any losses.

 Tena Yu, who’s been enjoying returns of more than 4% a year on her 1 million yuan in savings over the past five years, was taken aback when she saw losses on several her accounts. “I’ve never seen my WMP investments fall below the initial capital I put in,” said Yu, a manager at a commercial real estate firm in Shanghai. Among her investments, the worst performer is a China Merchants Bank Co. product, which has lost 3% so far.

 Yu’s consternation comes after a multi-year campaign by regulators to instill more discipline in its wealth market as economic growth slows and the nation opens its financial market to foreign competition. Banks have been forced to ditch a fixed-return model and move toward offering savings products that matches up more with the international mutual fund industry, where investors bear the risk of fluctuating markets and can track the net-asset value of their funds on a daily basis.

 While the potential losses in most cases is less than 1%, they could undermine depositors’ confidence in the already fragile banking system. It may also curb inflows into wealth products -- the biggest source of financing for risky borrower that has been targeted by regulators in recent years for its poor disclosure, maturity mismatch and a worsening moral hazard.

 “As WMPs shift to NAV-based models, the likelihood of investors seeing more frequent and bigger losses is increasing,” said Jin Qi, president of the Bank of Communication Co.’s wealth management unit. “But this is a necessary part of China’s market transformation and investors must learn to take their fair share of risks.”

 WMPs that have their NAVs disclosed reached 12.5 trillion yuan in first quarter, more than half of the total, according to Chengdu-based research firm PY Standard. That compared with 15% before the rules kicked in. Regulators will require 100% compliance on new issuance when a grace period expires at the end of this year.

 They are most popular with retail investors, who hold nearly 90% of outstanding WMPs. While policy makers have been trying to crack down since 2017, demand has held steady as investors sought out their relative safety amid shaky stock markets and a slowing economy. Sinking interest rates have also created arbitrage for some companies, which are issuing debt at lower rates and using the proceeds to snap up WMPs.

 Conditioning Chinese investors to face losses could help better pave the way for the likes of Blackrock Inc. and Vanguard Group Inc., who are now moving in to capture a slice of some $30 trillion in Chinese wealth assets. Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission, said on Thursday the regulator will allow establishment of more foreign-controlled wealth managers and encourage local players to invest more in equities.

The recent dislocation in the market has so far had limited impact, with the pace of WMP issuance holding steady. During the first ten days of June, Bocom’s wealth management unit sold about 10 billion yuan in new products, putting it on pace to reach the 30 billion to 40 billion yuan of products sold in the previous months, according to Jin.

 China Merchants Bank, one of the largest WMP issuers, also said its new issuance has not been impacted by the recent price decline in some NAV products. Industrial & Commercial Bank of China Ltd., Shanghai Pudong Development Bank Co. and China Guangfa Bank Co. all declined to comment.

 For Yu, in a world clouded in uncertainty and volatile stocks markets, the best defense now is to stay put.

 “I plan to hold my investment,” she said. “There’s just no better option right now.”

Translation

（彭博社）-中國投資者和儲戶剛剛經歷了從未有過的事情：國有銀行發行的25萬億元人民幣（合3.5萬億美元）的高收益財富管理產品(WMP)中有一部分受到損失。

這些事件是十年來最糟糕的中國國債狂潮同時遇到監管機構也試圖推動國家財富市場轉型。監管機構正在淘汰提供可保證回報的產品，以壓制主要槓桿來源和國貸方的風險。

 由於交易員減少了對央行可能採取的更多刺激措施的押注，本月政府債券收益率飆升。根據追踪該行業的官方網站Chinawealth.com稱，這樣把約佔淨資產值市場的3％的280多種低風險，及與債券掛鉤財富管理產品 (WMP) 的淨資產值推回其最初的1元人民幣價值的低位。

 這使許多散戶投資者的帳戶第一次閃出負數，一些人湧向互聯網，要求解釋並獲得還原數目。在一個保護消費者的網站上，數百名憤怒的投資者抨擊銀行引起意外損失和不透明營銷。以前，在保證回報時代，銀行將承擔任何損失。

在過去五年中，宇泰納 (Tena Yu) 的100萬元人民幣儲蓄每年都給她帶來超過4％的回報, 當她看到自己的多個帳戶都出現了虧損, 感到震驚。她是上海一家商業房地產公司的經理, 她說 “我從未見過我的WMP投資低於我投入的初始資金” 。在她的投資中，表現最差的是招商銀行（China Merchants Bank Co.）的產品，該產品迄今為止已下跌3％。

 隨著經濟增長放緩，監管機構進行了為期數年的推廣運動向財富市場注入更多管理紀律，以及國家將對外國競爭對手開放其金融市場, 這都令宇泰納感到震驚。銀行被迫放提供棄固定收益的模式，轉向提供與國際共同基金(international mutual fund)行業更吻合的儲蓄產品，在該儲蓄產品中，投資者承擔著波動市場的風險，並且可以每天追踪其基金的資產淨值。

 儘管在大多數情況下潛在損失不到1％，但它們可能破壞儲蓄戶對已經脆弱的銀行體系的信心。它還可能窒礙流入財富產品的資金。財富產品是高風險借款人的最大融資來源，但因近年來由於披露不妥善，兌現期限不配合，以及道德風險日益惡化而成為監管機構的目標。

 交通銀行財富管理部門總裁金琦表示：“隨著理財產品轉向基於資產淨值的模式(NAV-based models)，投資者看到更頻密和更大損失的可能性正在增加。” “但這是中國市場轉型的必要組成部分，投資者必須學會他們需要分擔風險。”

 根據在成都的研究公司PY Standard的數據，在第一季度理財產品中有披露其淨資產值的達到12.5萬億元，佔總數的一半以上。相比之下，實施該規則之前只有15％。當寬限期在今年年底到期時，監管機構將要求100％遵守新發行規定。

 它們受到散戶投資者的歡迎，散戶投資者持有近90％的優秀WMP。自2017年以來，決策者一直在努力去鎮壓它，但由於股市動盪和經濟放緩，投資者需尋求相對的安全，固需求一直保持穩定。利率下調也為一些公司制造了套利機會，這些公司正在以較低的利率發債，並利用收益來搶購理財產品。

 去令中國投資者適應面對虧損是有助黑石集團 (Blackrock Inc.)和先鋒集團(Vanguard Group Inc.)等公司的進軍更好地舖平道路，後者正在進軍中國，以獲取約30萬億美元的中國財富資產的一部分。中國銀行業和保險監督管理委員會主席郭樹清週四表示，監管機構將允許設立更多外資控制的財富管理公司，並鼓勵本地公司投資更多在股票。

 迄今為止，最近的市場失衡的影響是有限，因WMP發行速度保持穩定。據郭樹清說，在6月的前十天裡，交通銀行的財富管理部門售出了約100億元人民幣的新產品，使其回到前幾個月內售出300億至400億元人民幣的產品的售出步伐。

 最大的WMP發行商之一的招商銀行也表示，其新發行並未受到近期某些資產淨值價格(NAV)下跌的影響。中國工商銀行股份有限公司，上海浦東發展銀行股份有限公司和中國廣發銀行股份有限公司均拒絕置評。

 對於宇泰納來說，在一個充滿不確定性和動蕩的股票市場世界中，目前最好的防禦方法是保持現狀。

 她說：“我計劃繼續持有我的投資。” “目前沒有更好的選擇。”

              So, it seems that China is prepared to open up its financial market. Probably the financial institutions in the US would be interested in entering into the money market brave new world in China. The present uncertain WMP market situation inside China is in line with a news report made by Yahoo Finance on 18 January 2020 entitled “U.S. Firms Could Win Lucrative Job of Cleaning Up China's Bad Debt”. It was covered in my blog on 10^th February 2020 and translated into Chinese.

Criticism of the British HSBC from all sides - it supports the introduction of the Hong Kong National Security Law

Recently CNN Business reported the following:

英ＨＳＢＣに各方面から批判、香港国家安全法の導入支持で

2020.06.11 Thu posted at 19:30 JST

香港（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 英金融大手ＨＳＢＣが中国政府による香港への国家安全法導入に支持を表明したことに対し、各方面から批判が集中している。欧米の当局者や投資家に加え、中国紙からも「依然態度が曖昧」との批判を受けた。

ポンペオ米国務長官は９日、ＨＳＢＣが同法を支持したことを批判。企業が「叩頭（こうとう：膝をつき、額を地面に付けるおじぎ。卑屈な態度を取ることも意味する）」したところで、中国政府内で尊敬を得る結果にはならないと指摘した。国家安全法をめぐっては、１９９７年の中国返還時に約束された香港の自治を後退させることへの懸念が出ている。

ＨＳＢＣは先週、中国のソーシャルメディアに、アジア太平洋部門の王冬勝（ピーター・ウォン）最高経営責任者（ＣＥＯ）が同法を支持する文書に署名する写真を投稿した。これに対し英議会でも、下院外交委員会のトム・トゥゲンハート委員長らからＨＳＢＣの判断を疑問視する声が出ている。

ＨＳＢＣの株主、アビバ・インベスターズのデービッド・カミング株式最高投資責任者（ＣＩＯ）も１０日の声明で、ＨＳＢＣや同じ英系銀行のスタンダードチャータードが同法の実際の運用方法を知らないまま支持を決めたことに「不安を感じる」と述べた。

一方、中国国営の環球時報は９日、王氏の写真を公開した後もＨＳＢＣが「香港の国家安全法に対して依然曖昧な態度」を抱いていると批判。さらにＨＳＢＣが中国通信機器大手、華為技術（ファーウェイ）の孟晩舟（モンワンチョウ）最高財務責任者（ＣＦＯ）に対する米国の訴追を助けたとする国内の批判にも言及した。

ＨＳＢＣは１５０年以上前、アジアと欧州の間の貿易金融を扱う目的で、香港上海銀行として創設された。現在でもこの地域で大規模な事業展開を行っている。

Translation

Hong Kong (CNN Business) - Criticism from all sides had been converging on the British financial giant HSBC for the fact that it had announced support for the introduction of national security law by the Chinese government into Hong Kong. In addition to Western officials and investors, Chinese newspapers also criticized HSBC as " is still having an ambiguous attitude."

On the 9th US Secretary of State Pompeo accused HSBC of supporting the law. He pointed out that when a company " Kouto (Kouto: A bow with knees and the forehead on the ground). It also meant taking a subservient manner)”, it would not result in gaining respects within the Chinese government. About the National Security Law, there was concern that the autonomy of Hong Kong as promised when it was returned to China in 1997 would be eroded.

Inside China, HSBC last week posted on social media a photo that its Chief executive officer (CEO) of Asia-Pacific, Peter Wong, signed a document that supported the law. In response to that, in the British Parliament, voices from the House Foreign Affairs Committee Chairman Tom Tugendhat and others questioned HSBC's decision.

A shareholder of HSBC, David Cumming as the Chief Investment Officer (CIO) of the Aviva Investors  also in a statement yesterday said that he had  "uncomfortable feeling" about the decision by HSBC and the other British system bank, the Standard Chartered to show support for the same law without knowing how it actually would work.

On the other hand, after releasing a photo of Mr. Wong, China's state-owned Global Times on the 9th accused HSBC of still having an ambiguous attitude toward the national security law in Hong Kong. It also mentioned about the criticism in China that HSBC had helped the US prosecution against Meng Wanzhou, the Chief Financial Officer (CFO) of Huawei which was a major communication equipment manufacturer in China

HSBC was founded more than 150 years ago as the Hong Kong-Shanghai Bank to handle trading finance between Asia and Europe. Even now, large-scale business developments were in progress in this region.

              About the introduction of the Hong Kong National Security Law, mainland China has been trying hard to show that there is a popular support in Hong Kong for the Law. One local left-wing organization has conducted a signature campaign and claims that almost 3 million Hongkong people have signed up to support it. Separately, probably under pressure, 5 out of the 8 Hong Kong universities have also declared their support. HSBC is a household name in Hong Kong and was registered in Hong Kong before 1997 (moved its registration to UK after 1997). HSBC is a global financial institution and in recent years it moves its business more and more towards the Asia markets in China and Hong Kong, and also new markets in South-east Asia. It is understandable that China wants to force foreign banks to make a political stance on the new security law. All bankers know that to maintain a good business relation with the local authority is important for their banks in every respect.

Alibaba in China increases 5,000 employees in its Cloud department

Recently CNN.co.jp reported the following:

中国アリババ、クラウド部門で５０００人増員

2020.06.10 Wed posted at 18:04 JST

ロンドン（ＣＮＮ Ｂｕｓｉｎｅｓｓ） 中国のネット通販大手アリババは、年末までにクラウドコンピューティング部門で５０００人の人員を増強すると明らかにした。新型コロナウイルスの感染拡大を受けて、ストリーミングやビデオ通話、データストレージに対する需要が拡大していることを受けた措置。

アリババによれば、人員を増強する分野はネットワークやデータベース、サービス、人工知能など。調査会社ガートナーによれば、アリババはクラウド関連事業でアジア地域で首位、世界全体で見ても３位に位置するという。

アリババは４月、より多くのデータセンター構築に向けて向こう３年間で２０００億元を支出すると明らかにしていた。アリババの２０２０年度のクラウド部門の売上高は前年度比６２％増加していた。

新型コロナウイルスの感染拡大によって失業率が上昇している。しかし、一部企業は経済的な打撃のなかでも雇用を増やしている。消費者の行動の変化によって、さまざまな業界が人材の確保を迫られている。

食料品店や小売業界は雇用を増やしている。防衛部門や製薬会社にも空席がある。ＩＴ業界でも雇用を増やす会社がある。

新型コロナウイルスの感染拡大によって、仕事や学業を自宅で行うことが増えており、クラウドサービスに対する需要は世界中で増加している。

Translation

London (CNN Business) Alibaba, a Chinese online mail order company, announced that it would increase its workforce by 5,000 in the Cloud computing sector by the end of the year. It was a measure in response to growing demand for streaming, video calls, and data storage due to the spread of the new coronavirus.

According to Alibaba, the areas that would have increasing personnel were networks, databases, services and artificial intelligence. According to a research firm Gartner, Alibaba was the Cloud leader in Asia and third in the world.

Alibaba announced in April that it would spend 200 billion yuan over the next three years to build more data centers. Alibaba's FY2020 Cloud sales went up by 62% year-on-year.

Due to the spread of the new coronavirus the unemployment rate was rising. However, some companies were increasing employment amid economic downturn. Due to changes in consumer behavior, various industries were being forced to secure human resources.

Grocery stores and retailers were increasing employment. There were vacant positions in the defense sector and pharmaceutical companies. There were companies in the IT industry that increased employment.

Due to the spread of the new coronavirus, people doing office work and schooling at home were increasing, and the demand for Cloud services was increasing worldwide.

              So, IT service is expanding globally despite the spread of the new virus. Alibaba from China is expanding its business and challenging the leadership of the American IT companies.

來自中國的百萬英里電池可以為您的電動汽車供電

Yahoo Finance on 9 June 2020 reported the following:

A Million-Mile Battery From China Could Power Your Electric Car

Bloomberg Bloomberg News,Bloomberg Mon, Jun 8 5:00 AM GMT+8

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(Bloomberg) -- The Chinese behemoth that makes electric-car batteries for Tesla Inc. and Volkswagen AG developed a power pack that lasts more than a million miles -- an industry landmark and a potential boon for automakers trying to sway drivers to their EV models.

Contemporary Amperex Technology Co. Ltd. is ready to produce a battery that lasts 16 years and 2 million kilometers (1.24 million miles), Chairman Zeng Yuqun said in an interview at company headquarters in Ningde, southeastern China. Warranties on batteries currently used in electric cars cover about 150,000 miles or eight years, according to BloombergNEF.

Extending that lifespan is viewed as a key advance because the pack could be reused in a second vehicle. That would lower the expense of owning an electric vehicle, a positive for an industry that’s seeking to recover sales momentum lost to the coronavirus outbreak and the slumping oil prices that made gas guzzlers more competitive.

“If someone places an order, we are ready to produce,” said Zeng, 52, without disclosing if contracts for the long-distance product have been signed. It would cost about 10% more than the batteries now inside EVs, said Zeng, whose company is the world’s largest maker of the batteries.

Concerns about batteries losing strength and having to be replaced after a few years is one factor holding back consumer adoption of EVs. Tesla last year flagged it expected to bring into production a battery capable of a million miles of operation, and General Motors Co. last month said it is nearing the milestone. That distance is equivalent to circling the planet 50 times.

Anticipating a rapid return to growth for the EV industry, CATL is plowing research-and-development dollars into advances in battery technology. While the coronavirus outbreak will drag down sales throughout this year, EV demand will pick up in early 2021, said Zeng, who founded CATL a decade ago.

Car buyers holding back during the pandemic is creating pent-up demand that will be unleashed starting next year, led by premium models, he said. CATL’s customers include BMW AG and Toyota Motor Corp.

Zeng’s comments strengthen views that electric vehicles are set to weather the economic slowdown caused by the outbreak better than gas guzzlers. Battery-powered cars will swell to 8.1% of all sales next year in China, which accounts for the largest share of global EV sales, and to 5% in Europe, BNEF predicts.

“The pandemic may have a lasting effect throughout 2020, but won’t be a major factor next year,” Zeng said. “We have great confidence for the long run.”

CATL struck a two-year contract in February to supply batteries to Tesla, a major boon for the Chinese company as the U.S. electric-car leader has thus far mainly worked with Japan’s Panasonic Corp. and South Korea’s LG Chem Ltd. The deal followed months of negotiations, with Tesla Chief Executive Officer Elon Musk traveling to Shanghai to meet with Zeng.

The CATL batteries are set to go into Model 3 sedans produced at Tesla’s massive new factory near Shanghai, which started deliveries around the beginning of this year. Batteries are the costliest part of an EV, meaning suppliers of those components have a chance to reap a lion’s share of the industry’s profits.

Zeng said he often shares insights with Musk, with the two exchanging text messages about developments in technology and business. CATL is strengthening its relationship with Tesla, with matters such as cobalt-free batteries on their agenda, Zeng said.

“We’re getting along well and he’s a fun guy,” Zeng said of Musk. “He’s talking about cost all day long, and I’m making sure we have the solutions.”

Zeng said Musk also requested his help in obtaining ventilators for coronavirus patients. The U.S. billionaire delivered more than 1,000 of the breathing machines from China to officials in Los Angeles in March.

Shares of CATL have advanced about six-fold in Shenzhen since its initial public offering in 2018, giving the company a market value of about $47 billion. Tesla, by far the most valuable EV maker, has a market capitalization of about $160 billion.

A “trigger point” for electric cars will occur once they overtake gasoline-powered vehicles around 2030-2035, Zeng said. That view is more ambitious than that of researchers such as BNEF, which expects the shift to take place a few years later.

CATL, which is adding a production facility in Germany, is set to make more than 70% of batteries required by BMW, an early customer, Zeng said. CATL also works with Volkswagen’s Audi unit and is cooperating with Porsche, he said.

Zeng didn’t rule out building a plant in the U.S., though he said the company has no specific plans for now.

“Our team has made achievements in competing with our global rivals in overseas markets,” Zeng said.

Translation

來自中國的百萬英里電池可以為您的電動汽車供電

 (彭博）-為特斯拉公司 (Tesla Inc.) 和大眾汽車公司 (Volkswagen AG) 製造電動汽車電池的龐大中國公司開發了可行駛超過一百萬英里的動力電池組 - 這是行業的里程碑，也是汽車製造商試圖將駕駛者引領向駕駛電動汽車模式的潛在福音。

宁德时代新能源科技股份有限公司(CATL)董事長曾玉群在位於中國東南部寧德的公司總部接受採訪時說，他們準備生產可持續16年，200萬公里（124萬英里）的電池。據彭博新能源金融 (BloombergNEF)(BNEF) ，目前電動汽車電池的保修期約為150,000英里或8年。

延長使用壽命被視為關鍵進展，因為該電力裝置可以在另一輛車中重複使用。這將降低擁有電動汽車的費用，這對尋求恢復因冠狀病毒爆發和油價暴跌而失去的銷售勢頭的行業來說是有利的，亦抵消油價暴跌而增加耗油大戶的競爭力。

52歲的曾玉群說： “如果有人下訂單，我們就會準備好進行生產。” 他並未透露是否已簽署遠期產品合同。 曾說，這將比目前電動汽車中的電池貴10％左右。他的公司是全球最大的電池製造商。

阻礙消費者採用電動汽車的因素之一是擔憂電池強度下降以及幾年後必須更換電池。特斯拉去年曾表示，預計將生產能夠運行一百萬英里的電池，而通用汽車公司上個月表示，它已接近新里程碑。他們的距離等於繞轉地球50个圈。

因CATL期望電動汽車行業迅速恢復增長，故此將研發資金投入到電池技術的改進。十年前創立CATL的曾說，雖然冠狀病毒的爆發將拖累今年的銷量，但電動汽車的需求將在2021年初回升。

他說，病毒大流行期間購車活動停滯, 壓抑購車者的需求，這種需求將在明年開始釋放，將由高檔車型帶動。 CATL的客戶包括寶馬公司和豐田汽車公司。

曾的評論強化了一種觀點，即電動汽車將比高油耗的汽車更好地抵禦疫情造成的經濟放緩。彭博新能源金融 (BNEF)預測，明年在中國電動車將佔汽車銷量的8.1％，將是在全球電動汽車銷量中佔比例最大，而在歐洲，這一比例將達到5％。

曾玉群說：“病毒大流行可能會在2020年產生持續的影響，但明年不會成為主要因素。” “從長遠來看，我們充滿信心。”

CATL在2月簽署了一項為期兩年的合同，向特斯拉 (Tesla) 供應電池，對這家中國公司來說是一大福音，因為這美國電動汽車領導者迄今主要與日本的Panasonic Corp.和韓國的LG Chem Ltd.合作。該交易是經過數月的談判，而特斯拉首席執行官埃隆·馬斯克（Elon Musk）曾經前往上海與曾玉群會面。

CATL電池將用於特斯拉在上海附近的大型新工廠生產的Model 3轎車之上，該工廠於今年年初開始交付。電池是電動汽車中最昂貴的部分，這意味著這些組件的供應商有機會獲得整個行業的最大份額利潤。

曾玉群說，他經常與馬斯克分享見解，並通過兩次短信交流有關技術和商業發展。 曾又說，CATL正在加強與特斯拉的關係，將無鈷電池等事項列入其議程。

曾玉群談到馬斯克時說:“我們相處得很好，他是一個有趣的人”, “他整天都在談論成本，我正在確保我們有解決方案。”

曾玉群說，馬斯克還要求他幫助購買冠狀病毒患者用的呼吸機。這位美國億萬富翁今年3月從中國向洛杉磯的官員運送了1000多台呼吸機。

自2018年首次公開募股以來，CATL在深圳的股價上漲了約六倍，使該公司的市值變為約470億美元。特斯拉是迄今為止市值最高的電動汽車製造商，市值約為1600億美元。

曾玉群說，一旦在2030-2035年左右當電動汽車超過汽油動力汽車的時候，就會出現“觸發點”。這種觀點比BNEF等研究人員的野心更大，後者估計這種改變會在更遲幾年後才發生。

曾玉群說，CATL正在德國增加一個生產設施，該公司將生產寶馬70％以上的電池，寶馬是他們的早期客戶。他又說，CATL還與大眾的奧迪部門合作，並與保時捷合作。

曾玉群並不排除在美國建廠的可能性，儘管他說該公司目前沒有具體計劃。

曾玉群說：“在與我們在海外市場的全球競爭對手競爭中,我們的團隊取得了成就。”

       So, Tesla is buying batteries from CATL. They are in cooperation to open up the development of batteries for EV. It is very likely that in the immediate future China will be the leader in making car batteries. 

Hong Kong market deepens into China - it is at the forefront of US-China confrontation

Recently Nihon Keizai Shimbun Electronic Edition reported the following:

香港市場、深まる中国化　米中対立の矢面に

チャートは語る

米中衝突

2020年6月7日 2:00 ［有料会員限定記事］

香港が米中対立の最前線に立たされた。米トランプ政権が中国との対決の場を貿易から金融市場にも広げる中、中国にとっては世界のマネーとの結節点である金融センター・香港の重みが増している。その香港に対し、中国は社会統制を強める「香港国家安全法」を頭越しに導入しようとしている。長期的に欧米マネーの香港からの逃避を招けば、中国は自らの首を絞めることにもなりかねない。

政治の混迷と対照的に、香港の金融市場は意外な活況を示す。香港株は5日まで5日続伸し、3カ月ぶりの高値を付けた。外国為替市場では中国ゲーム大手のネットイースやネット通販の京東集団（JDドットコム）の株式上場を控えて香港ドル買いが止まらず、通貨当局は香港ドル売りの市場介入に踏み切った。

トランプ政権が米上場の中国企業に厳しい目を向け始め「中国回帰」の一環として香港上場を探る企業が増えており、この傾向はまだ続きそうだ。香港市場のにわかな活況を支えるのも中国本土マネーだ。1月以降、中国本土からの香港株の買越額は2783億香港ドル（約3.9兆円）と2019年通年を上回った。

中国本土は厳しい資本規制があり、国境をまたぐ投資に制約が多い。中国企業は自由な市場を持つ香港を窓口に世界との投資マネーのやりとりを進めてきた。香港と中国を結ぶ投資マネーの直近残高は2.4兆ドル（約260兆円）と、15年末比で47%増えた。

海外展開の足掛かりに香港を使う本土企業も増えている。統括機能を香港に置く本土企業は19年に216社と、5年間で2倍近くに達した。香港取引所の上場企業に占める中国本土企業の割合は時価総額ベースで70%を超えた。

香港経由で海外投資家が本土株に投資したり、本土投資家が香港株に投資したりする相互取引の額は右肩上がりが続く。香港が没落すれば、こうした資金の流れが目詰まりを起こす。中国人民銀行（中央銀行）は4日「香港の国際金融センターとしての発展を支持する」と表明した。国家安全法によって香港市場が混乱する事態は何としても避けたいのが本音だ。

ただ、香港市民の間では「一国二制度」崩壊への不安が広がる。海外移住を支援する美聯移民顧問には5月に前年同月の40倍となる800件の相談が寄せられた。同社の鄭天殷氏は「移住を選択肢の一つと考えていた人が決意を固めたようだ」と話す。

国家安全法の制定方針が決まった5月28日、街中の両替所から米ドル札が消えた。香港ドルの値動きを米ドルに連動させる「ペッグ制」が見直されるとの臆測から、香港ドルを手放す人が相次いだ。直物市場での高騰と正反対に、2年先の香港ドルを予想する先物市場は5月下旬にペッグ制の下限である1米ドル=7.85香港ドルを下回った。香港政府は4400億ドルもの外貨準備を持ち、ペッグ制の維持に自信を示すが、米国の存在を無視できない。

トランプ政権による香港への優遇見直しには米ドルと香港ドルの交換制限という選択肢もある。経済への影響があまりにも大きすぎて実際には使えないという意味で「核オプション」と呼ばれてきたが、不安は消えない。倉田徹・立教大教授は「米国の対中政策の激変で、香港は経済冷戦の最前線に立つ」と話す。

「中国がすぐに金融市場を自由化するのは不可能」（香港中文大学の荘太量・副教授）なだけに、中国は今後も香港市場に世界とのマネーのやりとりを頼らざるをえない。その香港が機能不全に陥れば中国も大きなしっぺ返しを受ける。そして世界経済も無傷ではいられない。（香港=木原雄士、真鍋和也）

Translation

Hong Kong was at the forefront of the US-China conflict. As the US Trump administration expanded the field of confrontation with China from trade to financial markets, for China, the financial center Hong Kong which was a node with the world's money was gaining pressure. Towards Hong Kong, China was trying to introduce the “Hong Kong National Security Law” that would strengthen social control over its head. In the long run China could be induced into squeezing itself in a way that could cause Western money to escape from Hong Kong

In contrast to political turmoil, Hong Kong's financial markets showed a surprising boom. Hong Kong stocks continued to grow for five days until the 5th, hitting a high for the first time in three months. In the foreign exchange market, the buying of Hong Kong dollars had not stopped due to the listing of shares of Chinese game giant NetEas, and also the Kyoto Group (JD.com) for online shopping, and the Hong Kong currency authorities decided to intervene by selling Hong Kong dollars.

As more and more companies were starting to look for listings in Hong Kong as part of their “Return to China” because the Trump administration began to look tough on Chinese companies listed in the US, and this return trend was likely to continue. Mainland Chinese money also supported the brisk boom in the Hong Kong market. Since January, the total amount of Hong Kong shares bought from mainland China was HK$278.3 billion (about 3.9 trillion yen), which was higher than the full year of 2019.

Mainland China had strict capital regulations, and there were many restrictions on cross-border investment. Chinese companies had been promoting exchange of investment money with the world through Hong Kong which had a free market. The latest balance of investment money linking Hong Kong and China was 2.4 trillion dollars (about 260 trillion yen), an increase of 47% from the end of 2015.

The number of mainland companies using Hong Kong as a foothold for overseas expansion was increasing. The number of mainland companies that had integrated functions in Hong Kong had doubled in five years, reaching 216 in 2019. Mainland Chinese companies accounted for more than 70% of the listed companies on the Hong Kong Exchange on a market capitalization basis.

The amount of mutual transactions in which foreign investors invested in mainland stocks, and mainland investors invested in Hong Kong stocks via Hong Kong continued to rise. If Hong Kong collapsed, the flow of these funds could clog. The People's Bank of China (Central Bank) announced on April 4 that it "supports the development of Hong Kong as an international financial center." The real intention was to avoid the situation in which the Hong Kong market would be disrupted by the National Security Law.

However, there was growing concern among Hong Kong citizens about the collapse of the "One country, two systems". In May the Midland Immigration Consultancy which assisted matters on overseas migration received 800 consultations, 40 times more than the same month last year. Mr. Zheng Tianyin of the company said, "It seems that someone who think about migration as one of their options has made up their minds".

On May 28, when the policy for enacting the National Security Law was decided, the US dollar bills disappeared from the money exchange shops throughout the city. A number of people were letting go their Hong Kong dollar based on a speculation that the "Pegged system" that linked the movement of the Hong Kong dollar to the US dollar might be reviewed. Contrary to soaring in the spot market, the futures market, which forecasted the Hong Kong dollar two years ahead, fell below the pegged lower limit of USD 1 = HK$7.85 in late May. The Hong Kong government had $440 billion in foreign exchange reserves and was confident in maintaining the pegged system, but the existence of the United States could not be ignored.

Another option in the Trump administration's review on Hong Kong preferential treatment was the restriction on the exchange between US dollars and Hong Kong dollars. It had been called a “nuclear option” in the sense that its economic impact would be so great that it could not be actually used, but the anxiety remained. Toru Kurata, a professor at Rikkyo University, said, "Hong Kong is at the forefront of the Cold War due to the drastic changes in US policy toward China.”

Since China could not immediately liberalize its financial market (Associate Professor Zhuang Tailiang of the Chinese University of Hong Kong), as could be expected, China had to rely on the Hong Kong market to exchange money with the world. If Hong Kong went into a dysfunction, China could suffer a returning hit, and the world economy might not be left unharmed.

              It is surprising to know that mainland Chinese companies are accounting for more than 70% of the listed companies on the Hong Kong Exchange on a market capitalization basis. It seems that the confrontation now taking place over Hong Kong could be a huge gamble for both China and the US, and that may affect the global economy in the long run.

China's export value decreased for the first time in two months – Is a drop in demand from Europe and the US a main factor?

Recently NHK News On-line reported the following:

中国の輸出額2か月ぶりに減少 欧米の需要落ち込みが主な要因か

2020年6月7日 15時08分

 中国の先月の輸出額は、去年の同じ月に比べて3％余り減少し、2か月ぶりにマイナスとなりました。新型コロナウイルスの世界的な感染拡大の影響で、主な輸出先であるアメリカやヨーロッパなどの需要が落ち込んだことなどが主な要因とみられています。

 中国の税関当局が7日発表した先月の貿易統計によりますと、中国の輸出と輸入を合わせた貿易総額は3507億ドルと、去年の同じ月に比べて9.3％減少しました。

 このうち輸出額は2068億1000万ドルで3.3％減りました。

 中国の輸出額は、感染拡大の影響で中国国内の企業活動が停滞しことし1月以降大きく落ち込みましたが、国内の企業活動が回復に向かい、4月にはいったん増加に転じました。

 輸出額が減少に転じたのは、世界的な感染拡大の影響で主な輸出先であるアメリカやヨーロッパなどの需要が落ち込んだことなどが主な要因とみられていて、こうした状況が続けば、中国の景気回復を遅らせる懸念があるとも指摘されています。

 一方、輸入額は1438億9000万ドルと、去年の同じ月を16.7％下回りました。

 原油などの輸入価格が下落したことや、中国国内の需要がふるわなかったことなどによるとみられています。

 また、貿易問題で対立するアメリカからの輸入額をみますと、ことし1月から先月までの累計が去年の同じ時期を7.6％下回りました。

 トランプ大統領は、中国のアメリカからの輸入が増えないことに強い不満を示しており、貿易問題をめぐる米中両国の関係が一層悪化することも懸念されます。

Translation

China's last month's exports fell by more than 3% from the same month last year, the first negative figure in two months. Due to the spread of the new type of coronavirus worldwide, it was believed that the main reason for this was a drop in demand from major export destinations such as the United States and Europe.

According to last month's trade statistics as released by China's customs officials on the 7th, China's combined exports and imports totaled $350.7 billion, a 9.3% decrease over the same month last year.

Of this amount, exports amounted to 206.81 billion dollars, a decrease of 3.3%.

The amount of Chinese exports dropped sharply from January due to the stagnation of corporate activity in China caused by the spread of infections, but domestic corporate activity began to recover and had once increased in April.

The main reason for the decline in exports was that demand from major export destinations such as the United States and Europe fell due to the spread of global infections. It had also been pointed out that if this situation continued, there was concern that it might delay the economic recovery in China.

On the other hand, the import value was 143,890 million dollars, which was 16.7% lower than the same month last year.

It was believed that this was due to the fact that import prices of crude oil and other products had fallen; and that domestic demands had not flourished.

Also, when looking at the value of imports from the United States which was having conflicts over trade matters, the cumulative total from January to last month fell 7.6% from the same period last year.

President Trump had been very dissatisfied with the fact that China's imports from the United States could not increase, and there was concern that the relationship between the United States and China over the trade issue could worsen.

              So, the trading relation between the US and China is far from smooth. It seems that global trading will take some time to recover from the impact of the new virus.

New corona countermeasures - New technology developments one after another such as hand free operating panel

Recently NHK News On-line reported the following:

新型コロナ対策 手を触れずに操作 パネルなど新技術開発相次ぐ

2020年6月7日 14時22分

 新型コロナウイルスの感染防止につなげようと、手を触れずに操作できる液晶パネルなど、手を清潔に保つための新たな技術開発が相次いでいます。

 電子部品大手のアルプスアルパインは、画面に手を触れずに操作できる液晶パネルの開発を進め、来年の製品化を目指しています。

 画面の内側に静電気を感知するセンサーを備えていて、3センチほどの距離で指を動かすことで、タッチパネルに触れるのと同じように画面を切り替えたり、ボタンを選択したりできるということです。

 医療機関や介護施設向けに開発を進めていましたが、新型コロナウイルスの感染拡大を受けて、ビルのエレベーターや公共施設のトイレなどの操作に採用したいという問い合わせが増えているということです。

 一方、富士通は、カメラの映像を通して手や指の動きを読み取り、正しく手洗いできているかを確認するＡＩ＝人工知能を開発しました。

手をこすり合わせる回数や爪の間も洗っているかなどを自動で細かく確認し、十分でなければ注意を促すこともできるということで、食品メーカーや医療機関のほかイベント会場向けなどにも販売する方針です。

 富士通研究所のシニアリサーチャー、鈴木源太さんは「新型コロナウイルスの感染拡大で人々の衛生環境への意識が高まっているので、生活支援に向けた開発を強化したい」と話していました。

Translation

In order to prevent infection by the new coronavirus, new technologies were being developed one after another to keep hands clean, such as LCD panels that could be operated without touching.

 Alps Alpine, a major electronic component company, was developing a liquid crystal panel that could be operated without touching the screen, and was aiming for commercialization next year.

 It had a sensor that could detect static electricity inside the screen, and by moving your finger about a 3 cm distance, you could switch screens and select buttons in the same way as you touch the touch panel.

 While there was promotion in the development for medical institutions and nursing care facilities, but in response to the spread of the new coronavirus, there were increasing inquiries to use it for operations such as elevators in buildings and toilets in public facilities.

 On the other hand, Fujitsu had developed AI = Artificial Intelligence, which could read the movements of the hands and fingers through the image of the camera and make sure that you're washing your hands properly.

 It could automatically check the number of times you rubbed your hands and whether you were washing between your finger nails. If  the washing was not enough, it could call your attention to it. The policy was to sell them to food manufacturers and medical institutions in addition to  event venues.

 Mr. Genta Suzuki, a senior researcher at Fujitsu Laboratories, said, "Since the spread of new coronavirus infection is increasing people's awareness of the sanitary environment, we would like to strengthen our development toward life supporting."

               So, in view of the new corona, Japanese companies are developing new technology one after another in order to make life easier.

AstraZeneca in the UK doubles vaccine production capacity to 2 billion doses

Recently Nihon Keizai Shimbun Electronic Edition reported the following:

英アストラゼネカ、ワクチン生産能力倍増　20億回分に

新型コロナ ヨーロッパ

2020/6/5 5:07

【ロンドン=佐竹実】英製薬大手のアストラゼネカは4日、英オックスフォード大学と開発する新型コロナウイルスのワクチンについて、今年から来年にかけて20億回分の生産が可能になるとの見通しを発表した。インドの大手ワクチンメーカーと新たにライセンス契約を結び、従来の生産計画から倍増する。

 アストラゼネカは5月、10億回分の生産体制を整え、9月にも供給を始めると発表済み。このうち米国が3億回分、英国が1億回分を確保したと明らかにしていた。

 今回、インドのワクチン大手セラム・インスティチュート・オブ・インディアとライセンス契約を結んだことで、新興国向けに新たに10億回分を生産できる見通しになった。うち4億回分は年内の供給を目指す。

 新型コロナは中南米などで感染が広がり、世界の死者数は増え続けている。アストラゼネカは世界保健機関（WHO）などの国際機関と連携し、新興国にもワクチンが行き渡る体制を整える。ワクチンは新型コロナ対策として期待が高まるが、資金力がある先進国に偏ることが懸念されている。

Translation

[London = Minoru Satake] On April 4, AstraZeneca, a major British pharmaceutical company, announced that it might be able to produce 2 billion doses of new coronavirus vaccine to be developed with the Oxford University in the UK from this year to next year. A new license agreement would be signed with a major vaccine manufacturer in India to double the existing production plan.

 AstraZeneca had announced in May that it could prepare a production system for 1 billion doses and could start supplying in September. Of these doses, the United States  could secure 300 million and the United Kingdom 100 million.

By signing a license agreement with Serum Institute of India, a major vaccine company in India, it was now possible to produce 1 billion new doses for emerging countries. Of this, the aim was that 400 million would be supplied within this year.

The new corona was spreading in Latin America and other countries, and the death toll in the world continued to increase. AstraZeneca would work with international organizations such as the World Health Organization (WHO) to establish a system to deliver vaccines to emerging countries. Vaccines were expected to serve as a measure against the new corona, but there was concern that their supplies might be biased towards the developed countries that had the financial resources.

              So, vaccine will be ready before the end of this year. I like to hear that.