CCTV Script 27/04/15

— This is the script of CNBC's news report for China's CCTV on April 27, Monday.

Welcome to CNBC Business Daily, I'm Qian Chen. A powerful earthquake measuring 7.9-magnitude struck an area between the capital, Kathmandu, and the city of Pokhara, around midday on Saturday, collapsing buildings and homes, toppling centuries-old cultural monuments, severely cracking roads and damaging communications infrastructure.

This is the biggest earthquake for Nepal in 81 years.

Experts say, as Nepal sits where the Eurasian and Indian tectonic plates collide, it's a place where earthquakes happen actively.

According to data from NSC Nepal, USGS and Al Jazeera, a similar quake in 1934 killed more than 10,000.

1980, ...

1988, ...

In 2011, dozens in China, India and Nepal died in a 6.8-magnitude earthquake.

And for the current one, with aftershocks after aftershocks, situation might be worse.

[Sanjay Karki, Mercy Corps, Country Director] "09:09:08Because the aftershocks happened more than 60, 70 times over the past 24 hours, it's really hard for people just to get a feeling of the extend of damages that's been happening. The government has set up around 16 evacuation shutters around the valley, where 20,000 people have been. 09:09:33"

The economic costs of Nepal's devastating earthquake, which has claimed the lives of at least 3,200 people so far and injured thousands more, could exceed $5 billion, equivalent to 20 percent of the impoverished nation's gross domestic product (GDP), says IHS.

"With the death toll and total casualty estimates from the Nepal earthquake rising rapidly, the economic impact on the nation is severe," said Rajiv Biswas, chief economist, Asia-Pacific at IHS wrote in a note.

Nepal's per capita GDP stood at $694 in 2013, according to the World Bank, compared with $1,497 in neighboring India and $ 6,807 in China.

We are still waiting for assessments on the economic impact of the earthquake. Meanwhile, the IMF has said that it is standing by to help Nepal deal with the economic fallout.

CNBC's Qian Chen, reporting from Singapore.


Welcome to CNBC Business Daily, I'm Qian Chen.

The economy may be slowing in China… but car sales are still forecast to grow about 6% this year.

As China's auto market develops, one local company - GEELY -- is tiptoeing OUT OF its domestic shadow and INTO the global arena.

Kaori Enjoji closes in on that transformation.

For the Henry Ford of China, the wait is almost over.

Five years after buying THIS iconic brand, Li Shufu is about to claim another title.

The FIRST to sell made-in-China cars to the U.S. masses.

Cheap and shoddy, he says… that's the image people have of my country's products today.

In 10 years… they will think high-tech and sophisticated.. and I will play my part in that change.

This Volvo S60 is a stepping stone for those ambitions.

The car synonymous with quality is about to be produced at this plant in Chengdu.

And exported to the U.S. next month, in hope Volvo can return to its U.S. heyday.

[HAKAN SAMUELSSON, CEO, VOLVO CARS] "In 2020, we want to be more or less double the size and clearly profitable. We moved into (the) black and I have said that that's absolutely necessary to stay there because nobody is interested in financing losses."

Volvo's fight to stay in the game is a warm-up act for its parent Geely, analysts say.

[JAMES CHAO, Director Asia Pacific, IHS] "I spent a day driving one of Geely's new cars which has been heavily influenced by Volvo from a design as well as a technology standpoint. It's clear to me they are getting access into a better supplier base, but more importantly a better R&D base. "

Rule of entry into the world's biggest car market has been clear from day one… a foreign manufacturer has to have a local partner.

Part of a master plan to transfer critical research and development skills Chinese car companies need to be global.

(2 versions fed: a standup version and a donut version)

The Japanese carmakers did it in the 70s. The South Korean manufacturers followed. Once the Chinese brands can too, it would open a new page for car making in China… and a new chapter in the country's rebalancing. Kaori Enjoji, CNBC, Chengdu.

CNBC's Qian Chen, reporting from Singapore.

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