Latest news with #Yuan
New Indian Express
8 hours ago
- Business
- New Indian Express
China begins construction of world's biggest dam over Brahmaputra in Tibet
BEIJING: China on Saturday formally started the construction of a USD 167.8 billion dam over the Brahmaputra River in Tibet, close to the Indian border in Arunachal Pradesh. Chinese Premier Li Qiang announced the start of the construction of the dam at a groundbreaking ceremony in the lower reaches of the Brahmaputra River, locally known as Yarlung Zangbo, at Nyingchi City, official media reported. The groundbreaking ceremony took place at the dam site of Nyingchi's Mainling hydropower station in Tibet Autonomous Region, state-run Xinhua news agency reported. The hydropower project, regarded as the biggest infrastructure project in the world, raised concerns in the lower riparian countries, India and Bangladesh. The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion), the report said. According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year, enough to meet the annual needs of over 300 million people. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said. The project was approved in December last year.
News18
10 hours ago
- Business
- News18
China begins construction of world's biggest dam over Brahmaputra in Tibet
Beijing, Jul 19 (PTI) China on Saturday formally started the construction of the USD 167.8 billion dam over the Brahmaputra river in Tibet, closer to the Indian border in Arunachal Pradesh. Chinese Premier Li Qiang announced the start of the construction of the dam at a ground-breaking ceremony in the lower reaches of the Brahmaputra river, locally known as Yarlung Zangbo, at Nyingchi City, official media reported. The ceremony took place at the dam site of Nyingchi's Mainling hydropower station in Tibet Autonomous Region, state-run Xinhua news agency reported. The hydropower project, regarded as the biggest infrastructure project in the world, raised concerns in the lower riparian countries, India and Bangladesh. The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion), the report said. According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year – enough to meet the annual needs of over 300 million people. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said. PTI KJV RD RD RD First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Indian Express
11 hours ago
- Business
- Indian Express
China begins construction of world's biggest dam over Brahmaputra in Tibet
China on Saturday formally started the construction of the USD 167.8 billion dam over the Brahmaputra river in Tibet, closer to the Indian border in Arunachal Pradesh. Chinese Premier Li Qiang announced the start of the construction of the dam at a ground-breaking ceremony in the lower reaches of the Brahmaputra river, locally known as Yarlung Zangbo, at Nyingchi City, official media reported. The ceremony took place at the dam site of Nyingchi's Mainling hydropower station in Tibet Autonomous Region, state-run Xinhua news agency reported. The hydropower project, regarded as the biggest infrastructure project in the world, raised concerns in the lower riparian countries, India and Bangladesh. The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion), the report said. According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year – enough to meet the annual needs of over 300 million people. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said.
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Business Standard
12 hours ago
- Business
- Business Standard
China starts building world's largest dam on Brahmaputra in Tibet
China on Saturday formally started the construction of the USD 167.8 billion dam over the Brahmaputra river in Tibet, closer to the Indian border in Arunachal Pradesh. Chinese Premier Li Qiang announced the start of the construction of the dam at a ground-breaking ceremony in the lower reaches of the Brahmaputra river, locally known as Yarlung Zangbo, at Nyingchi City, official media reported. The ceremony took place at the dam site of Nyingchi's Mainling hydropower station in Tibet Autonomous Region, state-run Xinhua news agency reported. The hydropower project, regarded as the biggest infrastructure project in the world, raised concerns in the lower riparian countries, India and Bangladesh. The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion), the report said. According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year enough to meet the annual needs of over 300 million people. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India.com
4 days ago
- Business
- India.com
This country has maximum reserve of dollar, it is not US, India, Japan, Russia, UK, name is….
When it comes to foreign exchange reserves, the global leader is assumed as the United States. However, China tops the list with the largest reserves of US dollars. It can help the country to strengthen its economic situation and also global influence. China Forex Reserves As per the latest data, China holds the largest foreign exchange reserves in the world, totaling around $3.6 trillion, and a major portion of this is in US dollars. These reserves are primarily due to China's massive trade surplus. As the country exports far more than it imports, and earns a major portion of foreign currency, especially American dollars. China uses these reserves to stabilize its own currency, the Yuan. Then invest in US Treasury bonds and cushion its economy during global financial instability. Japan: Second-Largest Reserve Holder After China, the country in 2nd position is Japan, with reserves around $1.3 to $1.4 trillion. Japan's reserves are similarly held in major global currencies like the US dollar and are used to manage exchange rates, to maintain investor confidence and also to support trade and capital flows. Japan's economic model, built around high exports, has helped it to gain more reserves. Switzerland At Third Switzerland holds the third-largest foreign exchange reserves, reported to be around $795 billion to over $1 trillion, depending on currency valuation changes. The Swiss National Bank has accumulated these reserves to prevent the Swiss Franc from becoming too strong, which could harm its export-driven economy. India At Fourth Globally India ranks fourth in the world with foreign exchange reserves between $650 billion and $675 billion, as of recent estimates. A large chunk of these reserves is in US dollars, held by the Reserve Bank of India (RBI). These reserves provide a buffer against global economic shocks, support the rupee in times of volatility and also help manage inflation and import bills.
