China shows way to economic recovery amid global battle against coronavirus: UK newspaper
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China shows way to economic recovery amid global battle against coronavirus: UK newspaper
21 Oct 2020
China has shown strong signs of economic recovery as many other countries are fighting to contain a resurge of coronavirus while bracing themselves for heavy falls in output this year, a major British newspaper reported. "They (countries in Europe and North America) can only look with envy to China, where the economy has already recovered," The Times said in a report published Monday. In its latest World Economic Outlook report released last week, the International Monetary Fund (IMF) projected the global economy to contract sharply by 4.4 percent this year. Meanwhile, it projected China's economy to grow by 1.9 percent this year, 0.9 percentage point above its June forecast. "After relaxing their lockdowns over the summer, western rivals are struggling to protect their economies from a second wave of the virus. However, China deployed a severe lockdown and a robust testing regime to contain the virus the first time round," the Times report said. "Although its economy shrank at a record pace at the beginning of the year, the subsequent recovery has not yet come under threat." Meanwhile, the Times also reported that a boom in infrastructure projects in China and sustained exports also contributed the country's economic growth. "At the same time growth has powered ahead thanks to a state-backed boom in new infrastructure projects, including roads and high-speed train lines. This has fuelled the strong rebound in industrial production," said the report. Exports "have also sustained the economy with four consecutive quarters of growth," it added. "The country's exporters have been taking market share from other parts of the world, where production is still hampered by restrictions. This has helped to fuel export growth, even as the global economy has started to soften once again." The article also noted a rise in retail sales, consumption and service production, which all show signs of China's further economic recovery. "We think growth will continue to pick up in the near term. Fiscal policy is set to remain supportive until at least the start of next year, which should keep activity in industry and construction strong...The recovery in consumption and services activity probably has further to run," Julian Evans-Pritchard, senior China economist at the British think-tank Capital Economics, told the newspaper. China's economic recovery picked up steam in the third quarter as activities normalized amid effective control of the COVID-19 pandemic and the Chinese government's sweeping efforts to stimulate demand and consumption, official data showed Monday. China's Gross domestic product (GDP) expanded 4.9 percent year on year in Q3, faster than the 3.2-percent growth seen in Q2, data from China's National Bureau of Statistics showed Monday. Source: Xinhua
Colombia's Ambassador to China H.E. Luis Diego Monsalve Visits SRCIC Secretariat
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Colombia's Ambassador to China H.E. Luis Diego Monsalve Visits SRCIC Secretariat
20 Oct 2020
SRCIC Secretary General Diane Bian and Ambassador Luis Diego Monsalve On October 19 of 2020, Colombian Ambassador to China H.E. Luis Monsalve paid a visit to the Tang West Market. Diane Bian, Secretary General of the Silk Road Chamber of International Commerce (SRCIC) held a meeting with Ambassador Louis Monsalve at SRCIC's “Belt and Road” Cultural Exhibition Center. Ambassador Monsalve gave an introduction to Colombia's national conditions, business environment and Chinese enterprises' investment in Colombia. He highly recognized the efforts and contributions made by the Tang West Market in promoting cultural exchanges and cooperation between China and other "Belt and Road" countries, as well as the role of SRCIC in building a platform and mechanism for pragmatic economic and trade cooperation. He expects that SRCIC platform would connect more Chinese and Colombian enterprises to further deepen cooperation between the business communities of the two countries. SG Bian extended her welcome to Ambassador Monsalve and expressed her gratitude to His Excellency for his support for the development of the SRCIC. She said that SRCIC has always been committed to promoting and building a platform for exchanges and cooperation among businesses of various countries. To this end, it has held a series of activities including the Silk Road Business Summits. She hopes that with the support of His Excellency, the two sides can work together to promote cooperation among business associations and entrepreneurs from China, Colombia, and other Silk Road countries. SG Bian also noted the 5th Silk Road Business Summit and the 2nd annual meeting of the Silk Road Urban Alliance to be held in 2021. She invited the Ambassador and Colombian entrepreneurs to attend the above gatherings to promote high-quality projects and seek cooperation opportunities. At last, the two sides exchanged views on Colombian cities’ joining the Silk Road Urban Alliance.
Economic Watch: Multinationals highlight Shanghai's role in global economic, social recovery
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Economic Watch: Multinationals highlight Shanghai's role in global economic, social recovery
19 Oct 2020
Several heads of multinational companies have highlighted Shanghai's role in global economic and social recovery at the ongoing 2020 International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC). According to Fiat Chrysler Automobiles (FCA) chairman John Elkann, the COVID-19 is the "ultimate test" for many enterprises and cities. As an important member of the global anti-epidemic cooperation network, Shanghai will become more powerful because of its international cooperation in fighting the epidemic. In the first half of the year, FCA re-equipped its Comau manufacturing facility in China with a monthly capacity of producing 3 million masks across two lines. The change helped the factory not only improve epidemic prevention and control and resume main production activities in a short time, but also helped the plant become a stable medical supply provider for its Italian parent company. With the help of the Chinese government, Global tech giant ABB's branches and factories across China have gradually resumed operations since Feb 10. In March, ABB also resumed construction of its new robotics factory in Shanghai, a strategically significant investment in China. There were no confirmed COVID-19 cases among ABB employees in China, and business operations have not been majorly affected by the pandemic. "We have witnessed the large and fast-growing role that digital technologies can play in helping cities navigate challenging and uncertain times, especially during the worldwide COVID-19 crisis. These technologies will enhance the resilience of urban infrastructure and the efficiency of emergency response mechanism," said ABB Ltd chairman Peter Voser. In the opinion of Carmine Di Sibio, Chairman and CEO of Ernst & Young Global, China is the first country to experience the pandemic and achieve economic recovery. Shanghai has launched a series of measures to optimize the business environment and stimulate market consumption in the process of epidemic prevention and control, remaining attractive to foreign investment amid global economic recession and declining returns, according to Di Sibio. "The pandemic has set us back in the international economic order. Shanghai has done an outstanding job when it comes to city safety and is setting the world's gold standard for ease of doing business. In the long term, China has tremendous opportunities for investment and growth," he said. According to Jean-Pascal Tricoire, chairman and CEO of Schneider Electric, through the challenge of the pandemic, digitization as a key technical trend is redefining the future of the industry. Shanghai has a perfect and comprehensive industrial ecosystem with unique advantages in leading the digitization of the value chain. Statistics by the Shanghai Municipal Commission of Commerce showed that in the first eight months of this year, the actual foreign direct investment in the city was 13.88 billion U.S. dollars, up 5.9 percent over the same period last year. By the end of August, Shanghai was home to 754 regional headquarters and 473 R&D centers. Through IBLAC, which started in the late 1980s, international business leaders and heads of Shanghai municipal government have discussed the grand plan of Shanghai's opening up and jointly promoted economic and social development of the city. Source: Xinhua
Cooperation proposal letter from the International Economic Union Silk Road of Tajikistan
Cooperation proposal letter from the International Economic Union Silk Road of Tajikistan
15 Oct 2020
CIIE exhibits to enjoy tax cuts
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CIIE exhibits to enjoy tax cuts
15 Oct 2020
Jinbao, the mascot of the China International Import Expo (CIIE). The third CIIE, which will offer quick and easy access to the Chinese market, is scheduled to run from Nov 5 to Nov 10, 2020 in Shanghai. [Photo/Xinhua] A tax cut policy for exhibits of the third China International Import Expo was jointly issued by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration on Monday. CIIE exhibitors stand to receive a certain amount of tax exemption, including customs duties, value-added tax and consumption tax, according to the policy. The list of exhibits eligible for the tax cuts was published online. These exhibits include machines and instrument, tractors, ships, medical equipment, artwork, collectables and antiques. Each kind of exhibit is subject to a different tax cut. For example, exhibitors of mechanical and electrical equipment can enjoy tax cuts for a maximum of 12 items, while exhibitors of medical equipment can have a maximum of five. Exhibitors of goods that are not in the list can enjoy tax cuts for total sales under $20,000. Tobacco, liquors, automobiles, products related to endangered animals and plants, as well as goods prohibited by China will not receive tax cuts. The China International Import Expo Bureau and the National Exhibition and Convention Center (Shanghai) Co are responsible for submitting the list of participating exhibitors and the exhibits sold during the expo. Source:China Daily
B&R conference for Chinese, Italian enterprises held to explore co-op opportunities
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B&R conference for Chinese, Italian enterprises held to explore co-op opportunities
15 Oct 2020
The Belt and Road (B&R) Conference of Investment Matching for Chinese and Italian Enterprises was held online on Wednesday, in a bid to further explore bilateral cooperation opportunities. The two-day conference was joinly organized by China Economic Information Service (CEIS) of Xinhua News Agency and Class Editori, a leading media group in Italy. During the conference, participants conducted in-depth exchanges over topics such as infrastructures and financial integration, port infrastructure as an essential pivot for Italy in the B&R construction, the B&R opportunities for Italian companies, as well as the Silk Road in emerging market. "Over the past months, China and Italy supported each other and endured hardship in fighting against COVID-19 epidemic and tackling with the global challenges," noted Gong Xixiang, Secretary-General of Xinhua News Agency, adding that the purposes for the conference are to deepen the exchange of enterprises and promote bilateral cooperation between the two countries, and make due contributions to the world economic recovery. According to Gong, two events have been successfully organized since 2018, which led to connection and cooperation of many enterprises with concrete results. "I hope that in this third event, we continue the process of work resumption both in China and Italy and jointly gain the economic recovery," said Gong. "The development policy that China has implemented in the domestic market represents a great opportunity for all those, like the Italian companies, which want to take part in this system growth," according to Paolo Panerai, Editor in Chief and CEO of Class Editori. Li Junhua, Chinese ambassador to Italy, said the B&R Initiative is injecting new impetus into the global recovery after the COVID-19 pandemic. Meanwhile, China will further ease market access for foreign investment, expand opening-up in multiple fields, reduce import tariffs, and increase imports of high-quality products. "We are confident that Italian industrial and commercial enterprises are bound to draw benefits from them," Li added. "With the issuance and implementation of the Foreign Investment Law, China is bound to accelerate its pace in opening-up to the world and the economic and trade cooperation between China and other countries in the world will undoubtedly be wider," said Song Wei, Deputy Director of the International Development Cooperation Institute with the Chinese Academy of International Trade and Economic Cooperation. Xinhua Silk Road, run by CEIS, is a comprehensive information service platform focusing on the B&R Initiative. Since launched in 2015, it has developed into the most comprehensive provider of B&R information, offering online full-process consultation services and one-stop offline services. Source:Xinhua Silkroad
Colombia's Ambassador to China H.E. Luis Diego Monsalve Visits SRCIC Secretariat
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Colombia's Ambassador to China H.E. Luis Diego Monsalve Visits SRCIC Secretariat
20 Oct 2020
SRCIC Secretary General Diane Bian and Ambassador Luis Diego Monsalve On October 19 of 2020, Colombian Ambassador to China H.E. Luis Monsalve paid a visit to the Tang West Market. Diane Bian, Secretary General of the Silk Road Chamber of International Commerce (SRCIC) held a meeting with Ambassador Louis Monsalve at SRCIC's “Belt and Road” Cultural Exhibition Center. Ambassador Monsalve gave an introduction to Colombia's national conditions, business environment and Chinese enterprises' investment in Colombia. He highly recognized the efforts and contributions made by the Tang West Market in promoting cultural exchanges and cooperation between China and other "Belt and Road" countries, as well as the role of SRCIC in building a platform and mechanism for pragmatic economic and trade cooperation. He expects that SRCIC platform would connect more Chinese and Colombian enterprises to further deepen cooperation between the business communities of the two countries. SG Bian extended her welcome to Ambassador Monsalve and expressed her gratitude to His Excellency for his support for the development of the SRCIC. She said that SRCIC has always been committed to promoting and building a platform for exchanges and cooperation among businesses of various countries. To this end, it has held a series of activities including the Silk Road Business Summits. She hopes that with the support of His Excellency, the two sides can work together to promote cooperation among business associations and entrepreneurs from China, Colombia, and other Silk Road countries. SG Bian also noted the 5th Silk Road Business Summit and the 2nd annual meeting of the Silk Road Urban Alliance to be held in 2021. She invited the Ambassador and Colombian entrepreneurs to attend the above gatherings to promote high-quality projects and seek cooperation opportunities. At last, the two sides exchanged views on Colombian cities’ joining the Silk Road Urban Alliance.
ICC world council elects new chair
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ICC world council elects new chair
25 Jun 2020
The International Chamber of Commerce (ICC), the institutional representative of 45 million companies in over 100 countries, has elected MasterCard CEO Ajay Banga as chair. Banga, who has served as ICC's first vice-chair since June 2018, becomes ICC Chair with immediate effect, succeeding Paul Polman who becomes ICC honorary chair, having served as chair for the past two years. Yassin Al Suroor, founder and the executive chairman of A'amal Group, was re-elected as vice chair. The election took place during the annual ICC World Council Meeting held through a virtual platform on June 23, the global business organisation based in Paris said in a statement. The chamber also elected Maria Fernanda Garza, CEO of Orestia and current board member, as ICC's first vice-chair, making her the first woman to hold this position. "I am delighted to step into the role of ICC chair, taking over from my friend Paul Polman," Banga said. "In this challenging time, I intend to build on the work underway at ICC and to ensure that the organisation, on behalf of business globally, continues to lead in promoting greater prosperity and opportunity for all, which includes being a crucial voice in the re-building of a sustainable and inclusive global economy." Source: The Daily Star
DRAFT letter from Chairman Lu to members of the SRCIC Board and to SRCIC members
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DRAFT letter from Chairman Lu to members of the SRCIC Board and to SRCIC members
14 May 2020
Dear friends and colleagues, We have all been living through an extraordinary time, for our families and friends, our businesses and partnerships. All of us have grieved for someone, family or friend and we have all been affected in many ways. The only consolation we have is that sometimes a crisis is needed to bring us together, to show us that though we live in different parts of the world we are really all the same. A virus such as the one unleashed over the past few months crosses all borders, affects all lives. We are at last beginning to see on the horizon signs that the ravages of this disease are coming to an end. We are starting to re-build again, our relationships, our businesses and most of all our hopes for the future. For the Silk Road Chamber of International Commerce, this worldwide crisis has been a heavy blow. The purpose of our existence has been challenged by closed borders, travel bans and other restrictions to trade, investment and business relationships. I am writing to assure you that our SRCIC is well and prepared to resume its job of bringing together the business communities along the Silk Roads. I am grateful for your support through these difficult times. The years ahead will be marked by this crisis. It will be more important than ever that business leaders use their talents, ambitions and their resources to support the development of a world where everyone can be a winner. The SRCIC will make every effort to assist our members to achieve that goal, and to make each one of you proud to be part of an international business community which remains committed to rebuilding a world economy which is based on multilateralism, open trade and investment, and addressing the challenges of a changing climate. I wish for everyone the best in the coming year, and I pledge myself and the SRCIC to walk with you on the difficult path of recovery and renewal. Chairman Lu Jianzhong
Stjepan Mesic:The Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation
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Stjepan Mesic:The Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation
7 May 2020
Chairman Lu (left) andStjepan Mesic Stjepan Mesic,former President of the Republic of Croatia and senior advisor to the SRCIC, wrote an articleThe Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation, in which he says China has provided valuable experience for other countries to fight the COVID-19. He also figures out thatsolidarity is the best way to cope with the challenges. The following is the full text of his article: The current coronavirus crisis hit the whole world and all countries acted too late to contain the spread of the virus. The coronavirus pandemic has affected more than two million people and is still spreading, causing immense human suffering and grave prospects for the global economy. And no country could be safe unless all countries are safe what is hardly possible without global, regional and national cooperation. If there is any lesson to be learned already now from the sanitary crisis, it should be that the world is globally connected and only national answer on the Covid - 19 will not solve the crisis nor prepare the world for next pandemic properly. The global response provides a logical way for respond to epidemics but in this hard time for people of the whole world it appears pretty undetermined and even uncertain. The USA, leading economy and military superpower, frozen its funds for the WHO that has been seen in many countries as an unappropriated attack on the global role of this organisation and weakening chances for global response on this unprecedented health crisis. America's soft power, that rests on the ability to shape the preferences of others, has been hardly hit with that move. In this pandemic America's moral authority and its global role has been strongly shaken by its own government. The WHO natural role is to take the lead in coordinating a national response and should be supported by all countries and by the United Nations. The Security Council members should act quickly and adopt approach that global pandemic may threaten international peace and stability how could the UN work on global response. In the situation when the United States Administration does not see its role as a work with other states and global institutions to develop a global plan and take responsibility for fighting the virus with the needs of its citizens and globally other global powers European Union, China and Russia should take global leadership supporting more openly the WHO and give it more financial resources. The European Union understand the WHO as an important global organisation in managing the corona crisis with strong credibility. Brusells reaction on the on-going coronavirus crisis has not been quick but slower and more gradual because never in its history the Union was faced with such kind of pandemic that should halting of its economy. In the first weeks of crisis Brusells has been criticised for lacking solidarity among member states and fragile health cooperation in slowing the spread of the virus but now the EU shows it has economic of financial capacity to respond to a crisis of such proportion. The covid -19, as well as bailout of Greece, has shown that division among north and south in Europe is present but this time eurozone policymakers decided to solve the crisis establishing the fund of 500 billion euros for 19 countries that use single currency. This is the greatest peacetime challenge to the EU that is deeply aware the pandemic needs a global response, global action and coordination that is vital for lives of people, for economy growth and for the world stability. China, that was first country hit by Cvid-19 strongly supports the WHO and the UN as a central organisation in defining global approach to the pandemic stressing that global cooperation is needed. China has helped many countries in the world with medical donation as well with its ability to organise production of vital medical equipment and export it though it had lockdown for three months in Wuhan. The global cooperation hardly could be implemented if order in the world in next decades will continue to be based on old pattern of power politics, unilateralism and weakening of global institutions. At the moment China is only country that have a concept of a shared destiny for humanity that could be useful in providing long term answer on challenge of the global pandemic to the world stability. Recently President of China Xi Jinping talked again about the concept with Secretary General of UN António Guterres who supported the common ideal and good pursuit of humankind, elevating the ideas of the common people in the world in a new historical period. China launched the concept of building community of human destiny in February 2017, in the UN, Geneva and the same year the 71st session of the UN General Assembly passed a resolution on "United Nations and global economic governance", incorporating China's concept of business process for building and sharing. Implementation of this concept could help the world to be structurally prepared to manage any future health crisis nationally, regionally and globally. Hope the international relations will be upgraded in that way that thinks about the interests of humanity not only about profit goals. Source: China-CEEC Think Tank Network
B.S. of E-Information Science and Technology Program(English Taught)
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B.S. of E-Information Science and Technology Program(English Taught)
17 Apr 2020
Bachelor of Science E-Information Science and Technology Taught in English NWU(China) and Essex(UK)Joint Collaborative Program Features of the Program ★English Taught program ★Joint CollaborativeProgram by NWU(China) &Essex(UK) ★Internationalized curriculum ★36% core courses by University of Essex ★Professional knowledge and multiple language skills ★International market needs based Main Courses 1.Group projects and practices 2.Digital System Design 3.Computer Security 4.Basic Network Knowledge 5.Fundamental Communication Knowledge 6.Advanced Embedded System Design 7.Advanced Logic System 8.Engineering Electro-magnetics 9.C Language Program Design and Embedded System 10.Digital Electronic System 11.Analog Circuit Design/Signal and System Degree and Credit Requirements Duration:Four years Credits:150 Degree:NWUBachelor of Science Tuition:23000RMB/Year Scholarship Available Xi'an City One Belt One Road International Students Scholarship Coverage of the scholarship: Tuition Application Deadline:JUNE30 2020 *Scholarship results will be determined by applicants'overall criteria. Click here to get more information about the scholarship Click here to download the scholarship application form Application Deadline:30th June 2020 Application Requirements 1. Applicant should be above 18 and under the age of 25, in good health; 2. Non-Chinese Citizens; 3. Applicant should have obtained a senior high school diploma or an equivalent diploma by the time of application; 4. Applicant should have a mastery of English language skills equal to TOEFL 50 or IELTS 5.0; 5. Applicant with Chinese language proficiency background is highly preferred. Application documents 1. Photocopy of passport and 2 passport-sized photos; 2.Photocopy of High school graduation certificate, this year's graduates can provide proof of graduation when apply (either in English or Chinese); 3. Photocopy of High school transcripts; 4.Photocopy of Chinese Language Proficiency Certificate; 5. Photocopy of English proficiency test (TOEFL or IELTS) transcripts; 6. Some students may be required to provide non-criminal record; 7.Application Form forXi'an City One Belt One Road International Students Scholarshipwith signature. Note: The application materials will not be returned disregard to successful admission or not. Certificates other than in Chinese or English language must be translated to Chinese or English by a legitimate notary authority. ApplicationProcedure 1.Complete online application athttp://nwu.17gz.org, print and sign the Application Form for Foreign Students to NWU 2.Email all the clear E-documents totonwu@nwu.edu.cn 3.Afterinternalreviewandevaluation,NWUwillconfirmwiththeshortlistedstudentsforfinalapproval 4. Mail all the documents toInternational Students Admission,School of International Education,Northwest University Brief Introduction of Essex Faculty Contact us Address: No. 229 North Taibai Avenue,Xi'an,Shaanxi, China,710069 International Students Admission,School of International Education,Northwest University,142 mailbox Tel: +86 -29 -88302373 +86-29-88302918 Fax: 0086-29-88303511 Email:tonwu@nwu.edu.cn crystalhe0917@163.com Website:http://www.nwu.edu.cn/ www.facebook.com/northwestuni Mr. Randy Dong QQ: 403958838 Ms. Crystal He Wechat: crystalhe0917 QQ:57668480
B.A. of International Economics and Trade Program (Taught in English)
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B.A. of International Economics and Trade Program (Taught in English)
16 Apr 2020
Program Introduction Duration:Four years Features of the Program Familiar with policies, rules and laws about international trade in China, and familiar with relative international conventions; Master theories and analysis methods of Economics and Management; Global view: Chinese Classroom, Multi-national Professors, Internationalized classmates; Multiple language skills: Wonderful English Skills+ Fluent Chinese Language; Various lectures related to up-to-date issues by world famous professors/ CEOs; Cultural and field trips to historic sites, corporations; Internship and Internship Visa available. Tuition and Costs:(CNY) Tuition: 22,000CNY/Year Dormitory Fees: Deposit:1000CNY/Person Intl. Building Type Double Room Triple Room Fee 3500CNY/Person/Semester6500CNY/Person/Year 2300CNY/Person/Semester4000CNY/Person/Year #8Building Type Double Room Triple Room Fee 1500CNY/Person/Semester2700CNY/Person/Year 1000CNY/Person/Semester1900CNY/Person/Year *Public shower, kithchen and bathrooms Scholarship Avaliable Xi'an City One Belt One Road International Students Scholarship Coverage of the Scholarship: Tuition Application Deadline:JUNE30 2020 Application Eligibilities: Be a citizen of a country from “One Belt One Road Initiative”, and be in good health; all the "One Belt One Road" countries are based on official website. ----https://www.yidaiyilu.gov.cn/ *Scholarship results will be determined by applicants'overall criteria. Click here to get more information about the scholarship Click here to download the scholarship application form Application Eligibility Applicant should be under the age of 25 and in good health; Applicant shouldhave obtained a senior high school diploma or an equivalent diploma by the time of application; English Proficiency Requirement (Except Native Speakers): TOEFL 50 or IELTS 5.0 Application Deadline:June 30th of each year Application Documents Application Form for Foreign Students to NWU with signature Application Form forXi'an City One Belt One Road International Students Scholarshipwith signature Copy of Passport Photopage Notarized highest diploma Academic transcripts NotarizedNon-criminal Recored The copy of valid English proficiency Certificates Foreigner Physical Examination Form Note:Documents in languages other than Chinese or English must be attached with notarized Chinese or English translations.Please provide valid email address. Application Procedure Complete online application athttp://nwu.17gz.org, print and sign the Application Form for Foreign Students to NWU; Email all the clear required E-documents to tonwu@nwu.edu.cn; After internal review and evaluation, International Students Admissions office will confirm with students for onlineINTERVIEW; Mail all the documents toInternational Students Admission,School of International Education,Northwest University;School of Intl. Education will send Admission Letters and JW202 Forms for the final confirmed students. Contact Us Address: No. 229 North Taibai Avenue,Xi'an,Shaanxi, China,710069 International Students Admission,School of International Education,Northwest University,142 mailbox Tel: +86 -29 -88302373 +86-29-88302918 Fax: 0086-29-88303511 Email:tonwu@nwu.edu.cn crystalhe0917@163.com Website:http://www.nwu.edu.cn/ Mr. Randy Dong QQ: 403958838 Ms. Crystal He Wechat: crystalhe0917 QQ:57668480
China shows way to economic recovery amid global battle against coronavirus: UK newspaper
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China shows way to economic recovery amid global battle against coronavirus: UK newspaper
21 Oct 2020
China has shown strong signs of economic recovery as many other countries are fighting to contain a resurge of coronavirus while bracing themselves for heavy falls in output this year, a major British newspaper reported. "They (countries in Europe and North America) can only look with envy to China, where the economy has already recovered," The Times said in a report published Monday. In its latest World Economic Outlook report released last week, the International Monetary Fund (IMF) projected the global economy to contract sharply by 4.4 percent this year. Meanwhile, it projected China's economy to grow by 1.9 percent this year, 0.9 percentage point above its June forecast. "After relaxing their lockdowns over the summer, western rivals are struggling to protect their economies from a second wave of the virus. However, China deployed a severe lockdown and a robust testing regime to contain the virus the first time round," the Times report said. "Although its economy shrank at a record pace at the beginning of the year, the subsequent recovery has not yet come under threat." Meanwhile, the Times also reported that a boom in infrastructure projects in China and sustained exports also contributed the country's economic growth. "At the same time growth has powered ahead thanks to a state-backed boom in new infrastructure projects, including roads and high-speed train lines. This has fuelled the strong rebound in industrial production," said the report. Exports "have also sustained the economy with four consecutive quarters of growth," it added. "The country's exporters have been taking market share from other parts of the world, where production is still hampered by restrictions. This has helped to fuel export growth, even as the global economy has started to soften once again." The article also noted a rise in retail sales, consumption and service production, which all show signs of China's further economic recovery. "We think growth will continue to pick up in the near term. Fiscal policy is set to remain supportive until at least the start of next year, which should keep activity in industry and construction strong...The recovery in consumption and services activity probably has further to run," Julian Evans-Pritchard, senior China economist at the British think-tank Capital Economics, told the newspaper. China's economic recovery picked up steam in the third quarter as activities normalized amid effective control of the COVID-19 pandemic and the Chinese government's sweeping efforts to stimulate demand and consumption, official data showed Monday. China's Gross domestic product (GDP) expanded 4.9 percent year on year in Q3, faster than the 3.2-percent growth seen in Q2, data from China's National Bureau of Statistics showed Monday. Source: Xinhua
Economic Watch: Multinationals highlight Shanghai's role in global economic, social recovery
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Economic Watch: Multinationals highlight Shanghai's role in global economic, social recovery
19 Oct 2020
Several heads of multinational companies have highlighted Shanghai's role in global economic and social recovery at the ongoing 2020 International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC). According to Fiat Chrysler Automobiles (FCA) chairman John Elkann, the COVID-19 is the "ultimate test" for many enterprises and cities. As an important member of the global anti-epidemic cooperation network, Shanghai will become more powerful because of its international cooperation in fighting the epidemic. In the first half of the year, FCA re-equipped its Comau manufacturing facility in China with a monthly capacity of producing 3 million masks across two lines. The change helped the factory not only improve epidemic prevention and control and resume main production activities in a short time, but also helped the plant become a stable medical supply provider for its Italian parent company. With the help of the Chinese government, Global tech giant ABB's branches and factories across China have gradually resumed operations since Feb 10. In March, ABB also resumed construction of its new robotics factory in Shanghai, a strategically significant investment in China. There were no confirmed COVID-19 cases among ABB employees in China, and business operations have not been majorly affected by the pandemic. "We have witnessed the large and fast-growing role that digital technologies can play in helping cities navigate challenging and uncertain times, especially during the worldwide COVID-19 crisis. These technologies will enhance the resilience of urban infrastructure and the efficiency of emergency response mechanism," said ABB Ltd chairman Peter Voser. In the opinion of Carmine Di Sibio, Chairman and CEO of Ernst & Young Global, China is the first country to experience the pandemic and achieve economic recovery. Shanghai has launched a series of measures to optimize the business environment and stimulate market consumption in the process of epidemic prevention and control, remaining attractive to foreign investment amid global economic recession and declining returns, according to Di Sibio. "The pandemic has set us back in the international economic order. Shanghai has done an outstanding job when it comes to city safety and is setting the world's gold standard for ease of doing business. In the long term, China has tremendous opportunities for investment and growth," he said. According to Jean-Pascal Tricoire, chairman and CEO of Schneider Electric, through the challenge of the pandemic, digitization as a key technical trend is redefining the future of the industry. Shanghai has a perfect and comprehensive industrial ecosystem with unique advantages in leading the digitization of the value chain. Statistics by the Shanghai Municipal Commission of Commerce showed that in the first eight months of this year, the actual foreign direct investment in the city was 13.88 billion U.S. dollars, up 5.9 percent over the same period last year. By the end of August, Shanghai was home to 754 regional headquarters and 473 R&D centers. Through IBLAC, which started in the late 1980s, international business leaders and heads of Shanghai municipal government have discussed the grand plan of Shanghai's opening up and jointly promoted economic and social development of the city. Source: Xinhua
CIIE exhibits to enjoy tax cuts
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CIIE exhibits to enjoy tax cuts
15 Oct 2020
Jinbao, the mascot of the China International Import Expo (CIIE). The third CIIE, which will offer quick and easy access to the Chinese market, is scheduled to run from Nov 5 to Nov 10, 2020 in Shanghai. [Photo/Xinhua] A tax cut policy for exhibits of the third China International Import Expo was jointly issued by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration on Monday. CIIE exhibitors stand to receive a certain amount of tax exemption, including customs duties, value-added tax and consumption tax, according to the policy. The list of exhibits eligible for the tax cuts was published online. These exhibits include machines and instrument, tractors, ships, medical equipment, artwork, collectables and antiques. Each kind of exhibit is subject to a different tax cut. For example, exhibitors of mechanical and electrical equipment can enjoy tax cuts for a maximum of 12 items, while exhibitors of medical equipment can have a maximum of five. Exhibitors of goods that are not in the list can enjoy tax cuts for total sales under $20,000. Tobacco, liquors, automobiles, products related to endangered animals and plants, as well as goods prohibited by China will not receive tax cuts. The China International Import Expo Bureau and the National Exhibition and Convention Center (Shanghai) Co are responsible for submitting the list of participating exhibitors and the exhibits sold during the expo. Source:China Daily
B&R conference for Chinese, Italian enterprises held to explore co-op opportunities
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B&R conference for Chinese, Italian enterprises held to explore co-op opportunities
15 Oct 2020
The Belt and Road (B&R) Conference of Investment Matching for Chinese and Italian Enterprises was held online on Wednesday, in a bid to further explore bilateral cooperation opportunities. The two-day conference was joinly organized by China Economic Information Service (CEIS) of Xinhua News Agency and Class Editori, a leading media group in Italy. During the conference, participants conducted in-depth exchanges over topics such as infrastructures and financial integration, port infrastructure as an essential pivot for Italy in the B&R construction, the B&R opportunities for Italian companies, as well as the Silk Road in emerging market. "Over the past months, China and Italy supported each other and endured hardship in fighting against COVID-19 epidemic and tackling with the global challenges," noted Gong Xixiang, Secretary-General of Xinhua News Agency, adding that the purposes for the conference are to deepen the exchange of enterprises and promote bilateral cooperation between the two countries, and make due contributions to the world economic recovery. According to Gong, two events have been successfully organized since 2018, which led to connection and cooperation of many enterprises with concrete results. "I hope that in this third event, we continue the process of work resumption both in China and Italy and jointly gain the economic recovery," said Gong. "The development policy that China has implemented in the domestic market represents a great opportunity for all those, like the Italian companies, which want to take part in this system growth," according to Paolo Panerai, Editor in Chief and CEO of Class Editori. Li Junhua, Chinese ambassador to Italy, said the B&R Initiative is injecting new impetus into the global recovery after the COVID-19 pandemic. Meanwhile, China will further ease market access for foreign investment, expand opening-up in multiple fields, reduce import tariffs, and increase imports of high-quality products. "We are confident that Italian industrial and commercial enterprises are bound to draw benefits from them," Li added. "With the issuance and implementation of the Foreign Investment Law, China is bound to accelerate its pace in opening-up to the world and the economic and trade cooperation between China and other countries in the world will undoubtedly be wider," said Song Wei, Deputy Director of the International Development Cooperation Institute with the Chinese Academy of International Trade and Economic Cooperation. Xinhua Silk Road, run by CEIS, is a comprehensive information service platform focusing on the B&R Initiative. Since launched in 2015, it has developed into the most comprehensive provider of B&R information, offering online full-process consultation services and one-stop offline services. Source:Xinhua Silkroad
Builders of Silk Road of health
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Builders of Silk Road of health
14 Oct 2020
By: ZHANG XIAO Joint fight against novel coronavirus highlights the profound friendship between China and Kazakhstan [Photo: Ma Xue Jing / China Daily] With the novel coronavirus posing a threat to the health and life of people in China and Kazakhstan, the two countries have pushed forward their permanent comprehensive strategic partnership and have lost no time in implementing anti-pandemic cooperation to control the spread of virus in a relatively short time. They successfully built an "anti-pandemic fortress" and gradually restored normal exchanges at all levels and mutually beneficial cooperation in various fields, setting an example in the anti-virus fight for the international community. The pandemic cannot stop the Chinese and Kazakh people from offering a helping hand to each other. When the pandemic broke out in China in January, the Kazakh government and social forces provided China with anti-pandemic supplies such as masks and medicines through various channels and many Kazakh internet users offered sympathy and support, cheering the Chinese people in their anti-virus fight with cries of "Stay strong, China" and "Stay strong, Wuhan". After the virus hit Kazakhstan in March, China donated a large quantity of medicines, masks, ventilators and other medical materials. In particular, a Chinese medical expert group went to Kazakhstan in April to guide their Kazakh counterparts in their pandemic prevention and control work, which highlighted the friendship between the two countries and was widely praised by all walks of life in Kazakhstan. In September, Chinese State Councilor and Foreign Minister Wang Yi paid an official visit to Kazakhstan and exchanged views with the Kazakh side on deepening anti-pandemic cooperation and ultimately defeating the virus. They also reached an important consensus on building a "Silk Road of Health" and a community of health for all. Both sides firmly supported the World Health Organization being the coordinator of global anti-pandemic cooperation and opposed politicizing the pandemic situation and labeling the virus. Within its capacity, China will continue to assist Kazakhstan in the anti-virus fight, including assisting it with the procurement of medical materials, expert training, experience sharing and medicine development. China will also accelerate the establishment of an information notification mechanism for major pandemic diseases. Kazakhstan's first president Nursultan Nazarbayev highly valued China taking the lead in successfully fighting against the pandemic and becoming the only major country to achieve positive economic growth. Kazakh President Kassym-Jomart Tokayev thanked China for providing anti-pandemic material assistance and sending medical experts, and said he hoped that the two countries would deepen their cooperation in vaccine research and development. He stressed that Kazakhstan's policy of developing friendly relations with China will never change, which is the established strategic policy of his country. The two countries have launched a plan to facilitate the exchange of key project and business personnel, allowing the first batch of 1,000 Chinese and Kazakh experts to resume work. The pandemic cannot stop the cooperation between the two countries under the framework of the Belt and Road Initiative. According to the statistics released by the Chinese side, the bilateral trade volume reached $9.35 billion in the first half of this year, only a slight drop of 1.7 percent year-on-year. Of this, $5.28 billion was China's imports from Kazakhstan, increasing 18.5 percent year-on-year. China's direct investment in Kazakhstan was $260 million, up 136.4 percent year-on-year. These figures reflect the strong resilience of the practical cooperation between China and Kazakhstan. During the pandemic, the China-Europe freight train, dubbed "the steel camel", has continued to traverse Eurasia. E-commerce, online education, big data, 5G and other new technologies and business formats are thriving. Cultural and entertainment industries, such as film, publishing and online gaming, are embracing new opportunities. The Belt and Road Initiative has been brought back to life in new forms. It was impressive that people of the two countries encouraged and cheered each other on through online videos and other channels during the pandemic. The Chinese embassy hosted an online Chinese language summer camp, and organized a short video competition featuring the Belt and Road Initiative, as well as a Chinese song contest and an online quiz about China. These online cultural activities attracted thousands of participants, hundreds of thousands of views and reposts. Many of the contestants have become internet celebrities. The country has been in the grip of Chinese film and TV drama fever. The Chinese TV series All is Well and Wonderful Life are popular in Kazakhstan, and the influential Astana TV station launched a Chinese Film Month. The people-to-people exchanges between China and Kazakhstan are increasingly active. The dawn of victory over the pandemic in China and Kazakhstan has emerged. Both sides agreed to resume all-round cooperation in an orderly manner in the post-pandemic era against the background of standardized pandemic prevention and control measures. The two countries should promote the construction of the Belt and Road and further dock it with Kazakhstan's new economic policy called "Bright Road", continue to expand the transportation network between China and Kazakhstan and speed up the restoration of the freight capacity at the border ports. China welcomes Kazakhstan's participation in the third China International Import Expo in Shanghai. It will strengthen cooperation in medicine and health through sharing its research results, experimental data, new medicines and equipment, and work with Kazakhstan to build a "Silk Road of health". The two countries should strive to construct the "digital Silk Road" by strengthening their digital economic cooperation, and researching and promoting new internet technologies such as digital health codes, online shopping, internet-based education and online medical care. They should also exchange what is needed in the research and development of automation equipment such as self-driving cars, unmanned aerial vehicles and robots, so as to adapt to the new lifestyle in the post-pandemic era. China and Kazakhstan should deepen people-to-people exchanges, strengthen their cooperation in youth, education and culture. The two sides should bring in cultural products such as excellent films and TV series, books, online games, short videos to promote communication between the two peoples. As the saying goes, sunshine always comes after the rain, the two countries should hold the firm belief that China-Kazakhstan cooperation in various fields will usher in a more brilliant future. Source: China Daily
IMF nearly doubles China's GDP growth forecast
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IMF nearly doubles China's GDP growth forecast
14 Oct 2020
The International Monetary Fund predicts that China's economy will expand by 1.9 percent this year, nearly double the rate forecast in June, while global growth is projected to contract by 4.4 percent in 2020, a "less severe" scenario than projected at the end of the second quarter. China continues to be the only economy to show positive growth in 2020 and will reach 8.2 percent growth next year, according to the World Economic Outlook released on Tuesday. The IMF said that the United States will see a 4.3 percent contraction in its gross domestic product during 2020 compared to the 8 percent contraction forecast in June. But its rebound in 2021 will be at 3.1 percent, 1.4 percentage points below the earlier projection. "We are projecting a somewhat less severe though still deep recession in 2020, relative to our June forecast," the IMF said in its latest quarterly forecast. "The revision is driven by second quarter GDP outturns in large advanced economies, which were not as negative as we had projected; China's return to growth, which was stronger than expected; and signs of a more rapid recovery in the third quarter," it said. In its June World Economic Outlook update, the IMF projected China's economy to grow by 1 percent. In the October forecast, the Fund said GDP outturns for the second quarter surprised on the upside in China, where, after lockdowns eased in early April, public investment helped boost activity to return to positive growth in the second quarter. It said GDP outturns also surprised on the upside in the US and euro area, where both economies contracted at a historic pace in the second quarter, but less severely than projected, with government transfers supporting household incomes. China's GDP expanded 3.2 percent year on year in the second quarter, reversing from a contraction of 6.8 percent in the first quarter, according to China's official statistics. Growth of the world economy will rebound to 5.2 percent in 2021, 0.2 percentage points below the June projection, reflecting the more moderate downturn projected for 2020 and consistent with expectations of persistent social distancing, the Fund said. "The COVID-19 pandemic continues to spread with over 1 million lives tragically lost so far. Living with the novel coronavirus has been a challenge like no other, but the world is adapting," said Gita Gopinath, IMF's economic counselor and director of research. Eased lockdowns and the rapid deployment of policy support on an unprecedented scale by central banks and governments around the world has lifted the global economy from the depths of its collapse in the first half of this year, but the ascent is likely to be "long, uneven, and highly uncertain", according to Gopinath. "It is essential that fiscal and monetary policy support are not prematurely withdrawn, as best possible," she wrote in a blog posting. The virus is resurging with localized lockdowns being re-instituted. If this worsens and prospects for treatments and vaccines deteriorate, the toll on economic activity would be severe, and likely amplified by severe financial market turmoil, she wrote. In addition, growing restrictions on trade and investment and rising geopolitical uncertainty could harm the recovery. But on the upside, faster and more widespread availability of tests, treatments, vaccines, and additional policy stimulus can significantly improve outcomes, Gopinath noted. To ensure a sustained recovery, greater international collaboration is needed to end the health crisis, and policies must aggressively focus on limiting persistent economic damage from this crisis, she wrote. The IMF report noted that global trade began recovering in June as lockdowns were eased, with China as an important contributor. "Its exports recovered from deep declines earlier in the year, supported by an earlier restart of activity and a strong pickup in external demand for medical equipment and for equipment to support the shift to remote working," the Fund said. The Brookings Institution, in an update to its Tracking Indexes for the Global Economic Recovery that was published on Sunday, also said China has led the global recovery, with both the industrial and services sectors revived, and many indicators of economic activity already above pre-COVID levels. Source: China Daily
Cooperation proposal letter from the International Economic Union Silk Road of Tajikistan
Cooperation proposal letter from the International Economic Union Silk Road of Tajikistan
15 Oct 2020
Come and make business with companies from the Portuguese speaking countries
Come and make business with companies from the Portuguese speaking countries
12 Oct 2020
AJEPC (Young Entrepreneurs Association Portugal-China) is promoting on the 22nd and 23rd October, during Macao International Fair. The business matching meetings open to all companies that are interested in participating. The meetings will be made with the support of translators, so it is not mandatory to speak English. It will be 15 minutes' meetings via zoom to assess future opportunities. Don't miss out on this opportunity! Contact Info:Carolina Guedes:ajepc@ajepc.com Please click the following links to learn more informantion on the participants: Food, Wine & Care: http://srcic.org/upload/articles/2285/self/5f83ff976e6ec.pdf Lux_RealEstate&Investment: http://srcic.org/upload/articles/2285/self/5f83ffc0e9b4a.pdf Services&Visibility: http://srcic.org/upload/articles/2285/self/5f84000861ebf.pdf
SRCIC Vice Chairman Francis Chua Received the Highest Ever Award From the PCCI
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SRCIC Vice Chairman Francis Chua Received the Highest Ever Award From the PCCI
9 Oct 2020
The picture shows Amb. Francis Chua receiving the PRESIDENTIAL EXCELLENCE AWARD at the 46thPhilippine Business Conference & Expo held by PCCI. The award was witnessed online byformer President Arroyo, along with the certificate and medal of the Award. Amb. Francis Chua, the Honorary President Emeritus of the Philippine Chamber of Commerce and Industry (PCCI), PSRICC Chairman and SRCIC Vice Chairman, was awarded the PRESIDENTIAL EXCELLENCE AWARD, PCCI's highest honor, on 7 October. At the46thPhilippine Business Conference & Expo heldby PCCI at Marriott Hotel on October 7, Amb.Benedicto V. Yujuico, President of the PCCI, presented the certificate of Commendation to Amb. Francis Chua, witnessed by Former President Arroyo viavideo online. Ambassador Chua's greatest contribution to PCCI has been to develop, consolidate and maintain the finances of the Chamber, generating tens of millions of dollars in revenue each year and enabling PCCI to promote more SME development initiatives. Inaddition, Francis Chua led PCCI to join the International Federation of Chambers of Commerce and to establish the ICCP, a worldwide organization that establishes, promotes, and monitors certificates of Origin and ATA CarnetProvisional Import Licenses, making PCCI a truly international chamber of commercein the country. In his acceptance speech, Ambassador Chua said that the award was not his work alone, but due tothe concerted efforts of all the members of the Federation of Philippine Chambers of Commerce and Industry. He also thanked the previous leaders and the Board of Directors of the Federation for their support and trust. The Board of Directors of the PCCI, after careful selection and discussion, has decided to award its highest award, thePRESIDENTIAL EXCELLENCE AWARD, to Amb. Francis Chua. The board's resolution says Amb. Francis Chuais unwavering in his commitment to promoting the growth and development of theChamber of Commerce and the Philippine business community. His vision, businessacumen, and advocacy will continue to drive the PCCI to higher levels. ThePhilippine business hub he help establishing is home to start-ups and SME businesses,helping companies set up their own business bases. The creation of the PCCI e-commerce platform under his guidance testifies to his commitment to the development and promotion of SME. The ICCP, chaired by Amb. Francis Chua, has made a positive contribution to the Philippines' active participation in ICC activities. In addition to PCCI and its manybusinesses, Amb. Francis Chua 's philanthropic efforts have also affected the lives of scholars, front-line personnel, civil servants and the less fortunatein society. Writer: Pol Ongkinglok Editor/Linguister: Stephanie Tan Source: PSRICC official wechat account
China (Zhejiang)- ASEAN Trade and Investment Conference
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China (Zhejiang)- ASEAN Trade and Investment Conference
27 Sep 2020
Figure from left: Leader ofthe Zhejiang Provincial Department of Commerce; Romagna, Philippine Ambassadorto China; Xu Ning-ning, Executive Director of the China-ASEAN Business Council;Amb. Francis Chua, the Founding Chairman of PSRICC and Honorary PresidentEmeritus of the Philippine Chamber of Commerce and Industry; and part of theforum guests participated in the “China (Zhejiang) - ASEAN Trade and Investment”. Amb. Francis Chua, the Founding Chairman of PSRICC and Honorary President Emeritus of the Philippine Chamber of Commerceand Industry, attended the "China (Zhejiang) -ASEAN Trade and Investment Meeting" video conference held by the China-ASEAN Business Council on 24 September 2020 to introduce the economic development of the Philippines and promote investment opportunities. As countries are affected by the COVID-19 epidemic, the meeting was conducted on video. Speeches delivered by Xu Ningning, Executive Director of the China-ASEAN Business Council, Han Jie,Deputy Director of the Commerce Department of Zhejiang Province, Roana,Philippine Ambassador to China, Zhou Haoli, Indonesian Ambassador to China, and Miao Dan Pei, Myanmar Ambassador to China; Briefing by the Chinese and ASEAN guests and their willingness to cooperate; Chen Zhicheng, director of Trade andDevelopment Division of Zhejiang Provincial Department of Commerce, introduced the development situation and ideas of bilateral trade between Zhejiang and ASEAN countries in combination with the work of online trade fair. Wu Hang,deputy director of Zhejiang International Investment Promotion Center, introducedthe situation and ideas of two-way investment cooperation between Zhejiang Province and ASEAN based on the work of Zhejiang Business Representative officein Singapore. Amb. Francis Chua, the Founding Chairman of PSRICC and Honorary President Emeritus of the Philippine Chamber of Commerce and Industry,introduced business opportunities and cooperative projects in the Philippines. Tiegong,Minister Counselor of the Embassy of Cambodia in China, introduced business opportunities and cooperative projects in Cambodia. President of TheMyanmar-china General Chamber of Commerce, Mr. Lam Man-meng, introduced business opportunities and cooperative projects in Myanmar. Commercial Counselor Of The Lao Embassy in China, Mr. Poshavan, introduced business opportunities and cooperative projects in Laos. Zhejiang Huali Group introduced the Thailand-China Rayong Industrial Park and introduced the cooperation between Zhejiang enterprises and ASEAN. Anbang Escort bank, Standard Chartered Bank and KPMG introduced Suggestions on economic and trade cooperation between Zhejiang and ASEAN respectively based on their own businesses. Amb. Francis Chua delivered a speech: It is my great honor to attend today's"China (Zhejiang) -ASEAN Trade and Investment Meeting", to meet with leaders and entrepreneurs from Zhejiang province on line, and to have adetailed understanding of the overall situation of Zhejiang Province. I hope to strengthen cooperation with ASEAN in areas, and I would like to thank Executive Director Xu Ningning for his kind invitation. In the early 1980s, I accompanied my mother on a pilgrimage to the Zhoushan Islands in Zhejiang province for three consecutive years. At that time, the traffic is not convenient, to first by carto Dinghai, and then by boat to Zhoushan. Once there was a strong wind, wecould not cross the sea to Mount Putuo after reaching Shenjiamen. We waited there for three days. On the third morning, I went to the beach to look for aboat. There is a big fishing boat named "Quanzhou". There are 65 fishermen on it. I discussed with them in native Hokkien, and they felt very friendly, sothey invited more than 30 pilgrims to come on board and take us to Mount Putuo to worship Guanyin. Because the wind was too strong to stay there, he sent theship back to Shenjiamen after worshiping. Since then, I have been particularly impressed by Zhejiang. On another trip, we had to go to the main hall to burn incense at three o 'clock in the morning. When we met a very close friend, we also went to burn incense, and we worshiped Guanyin together. Now this goodfriend already is 100 billionaire, visible the god of Zhejiang is very clever. No wonder Zhejiang has been known as theland of fish and rice since ancient times. It has always been China's richest region. Since the reform and opening up, Zhejiang's economy has developedrapidly, and the private economy is the crown of all provinces and cities. Zhejiang is one of the fastest growing provinces. Now, Zhejiang province has become an important hub of "One Belt And One Road", bringing new opportunitiesfor Zhejiang's opening-up, as well as cooperation and development opportunities for enterprises from the Philippines and ASEAN countries. There are many Zhejiang businessmen in the Philippines. With the support of the Philippine society and the guidance of theZhejiang Provincial government, they officially established the Philippine Zhejiang General Chamber of Commerce in Manila in 2018. This shows the speedand diligence of the Zhejiang people. Ladies and gentlemen, the PCCI is the largest chamber of commerce in the Philippines, comprising large, medium andsmall businesses, local Chambers of commerce, and the International BusinessCouncil, all of us working together to promote the healthy development of the Philippine economy and improve the business environment. It was established by the Spanish queenIsabel on April 19, 1886, which was named Camara de Commercio de Filipinas. After years of development and consolidation, itemerged as a PCCI on December 7, 1978, and was designated by then-President Marcos as the "sole voice of the Enterprise". PCCI's primary role isto provide focused advocacy for business growth and sustainable development. It provides business services to improve grassroots entrepreneurship, chamber ofcommerce development, international trade relations, business innovation and operational efficiency. It maintains good contacts with a wide range of stakeholders in both the public and private sectors. On the other hand, the Philippine Silk RoadInternational Chamber of Commerce (PSRICC) was established under the strategic vision of the "New Silk Road Economic Belt" and the "21stCentury Maritime Silk Road". Its mission is to promote win-win cooperationbetween the Philippines and China, support Philippine enterprises to conductregional cooperation, and strengthen economic, trade, cultural and personnel exchanges among countries and regions along the belt and Road. It is also abridge between the Philippines and "One Belt And One Road". The PSRICC has cooperated with the Ministry of Trade and Industry of the Philippines many times, and has received manytrade and investment delegations from various Provinces and cities in China. Itorganized economic and trade forums to brief Chinese delegations on investment opportunities to promote mutual benefit. In 2018, the PSRICC joined hands withthe Chinese Embassy to invite members of the Philippine media to visit China toenhance trust and understanding between the two countries as part of cultural exchanges. When Wuhan was threatened by novel Coronavirus epidemic, PSRICC was the first to ask for a donation to Ambassador Huang Xi Lian to support wuhan in their fight against the epidemic. Similarly,members of the PSRICC have been working together to raise funds for local governments and frontline health workers in the Philippines to fight theepidemic. We hope to help the government and friendly agencies cooperate andgive priority to bringing Chinese vaccines into the Philippines. Now, Chinese companies are going global. Istrongly recommend that you make the Philippines your first choice forinvestment. The PCCI and PSRICC will work together to help Chinese companies investing and setting up factories in the Philippines. We will also provide free consultation and assistance to Chinese companies. Why invest in the Philippines: First, there are abundant human resources,a large number of workers, a population of over 100 million, and an average ageof 24. University, secondary and primary education is free of charge. Englishis widely spoken. 80% of the population can speak English. The literacy rate is 94.6%, among the highest in Asia. Second, the domestic market has broad prospects. Filipinos have a strong desire to consume, with private consumption accounting for nearly 70% of GDP. In 2015, consumer confidence in thePhilippines was the second highest in the world and the highest in SoutheastAsia, according to Nielsen. Third, it isrich in natural resources and energy. There are more than 20 kinds of mineraldeposits in the Philippines, including copper, gold, silver, iron, chromium and nickel. Copper reserves are about 4.8 billion tons, nickel 1.09 billion tonsand gold 136 million tons. The Philippines is also rich in geothermal resources, the second largest in the world, with an estimated 2.09 billionbarrels of oil equivalent. In the waters to the northwest of Palawan, preliminaryoil reserves of about 350 million barrels are among the largest in Asia and theworld. The Philippines has high forest coverage and rich aquatic resources. Fourth, it has the radiation advantage of American and European markets. The United States and the European Union havegiven corresponding preferential tariff treatment to Philippine exports. The Philippines has a special relationship with the United States, which givesspecial treatment to Philippine products. 70-80% of the products are duty-free. Fifth, foreign investment visa andduty-free concessions. To encourage foreign investors to participate in thePhilippines' economic development, the Philippine government has eased visa requirements for foreign investors, granting them long-term residency rightsfor every 10 workers they employ in the Philippines. Machinery and equipment are imported duty-free, and foreigners can be hired to work in the Philippines,whose families have a five-year residency. If you want to participate in a major construction project in the Philippines, because the Philippines borrows moneyfrom China, it mainly cooperates with the Chinese Ministry of Commerce. If sufficient funds are available, hydroelectric power plants can be built solely.Coal, solar and geothermal power plants are also popular. At the same time, Ihope you will invest in industrial parks, large-scale mining, plantation industrial forests, agriculture, printing, pharmaceutical, rubber, software development, telecommunications and other industries. As a country along the "One Belt And One Road" route, the Philippines has conducted extensive cooperation withChina under the "One Belt And One Road" initiative in recent years. ThePhilippine Secretary of Trade and Industry, Leopoldo Lopez, pointed out thatthe "One Belt And One Road" initiative is very beneficial to thePhilippines, especially as China and the Philippines are promoting large-scaleinfrastructure. We hope that the Philippines and China will work together topromote the "One Belt And One Road". I am very glad to see that China and ASEAN prevent the epidemic together, at the same time, Zhejiang as a big economic province of China, is actively explore the economic and tradecooperation with ASEAN countries, and support enterprises in the prevention and control during the outbreak of business activities, reduce outbreak on bothsides of economic activity and cooperation with asean countries to seek new development together! In addition, I would like to thank the China-Asean Business Council for providing a platform for relevant local governments and enterprises in China to cooperate with ASEAN countries. On the independence Day of the Philippinesin June, President Xi Jinping once promised to novel Coronavirus vaccine with the Philippine President in a phone call of more than 30 minutes to consider the needs of the Philippines once there is a vaccine! China and the Philippinesare good friends, good neighbors and good partners, as well as blood andcultural relatives. The Philippines will continue to cooperate with China tostrive for peaceful development in the region. Once the world is secure, can human beings have happiness. Editor/LinguisterStephanieTan Souce: PSRICC Official Wechat account
Francis Chua Invited To Attend The Cloud Forum For Digital Economy International Cooperation
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Francis Chua Invited To Attend The Cloud Forum For Digital Economy International Cooperation
3 Aug 2020
Above, the China Forum. Left of Figure 2:Keynote speaker Amb. Francis Chua; Right ofFigure 2: Glenn G. Peñaranda, the Philippine Ambassador to China. Figure 3 shows the Commercial Counselor of the Philippine Embassy in China. On July 29, the 2020 Cloud Forum For Digital Economy International Cooperation was held online. Ambassador Francis Chua, Founding Chairman of PSRICC, Honorary President Emeritusof the Philippine Chamber of Commerce and Industry and SRCIC Vice Chairman, delivered the keynote speech of "Jointly Building a Digital China-Asean Free Trade Area" at the Cloud Forum on theDevelopment of Digital Economy in the New Era. The meeting was co-sponsored by China-Asean Business Council and China-Asean Science and Technology Industry Cooperation Committee, and hosted by Guangxi Enlightenment Science and Technology City Group. In opening session, Xu Ning-ning, the Executive Directorof China-Asean Business Council, Wang Ji Wu, the Chairman of the Chinese sideof China-Asean Science and Technology Industrial Cooperation Committee, also the Chairman of China Enlightenment Holding Co., LTD, Romagna, Philippine Ambassador to China, Kanbau Ntawan, Lao Ambassador to China, Miao Dan Pei, Myanmar ambassador to China, delivered their speeches. Glenn G. Peñaranda, the Commercial Counselor of the Embassy of the Philippines in China, attended the Cloud Forum. Francis Chua delivered the following keynoteaddress: I'm very glad to attend the "Jointly building the Digital Economy Silk Road and discussing future technological innovation and development" of the Cloud Forum For Digital Economy International Cooperation. On behalf of the PCCI and PSRICC, to the organisersof the forum, China - Asean Business Council, the China-Asean Industry Cooperation Committee of Science and Technology, and the host, Guangxi Enlightenment Technology City Group, express our heartfelt thanks to you. It is a great honor for me to meet ambassadors from ASEAN countries, leaders of Guangxi Zhuang Autonomous Region, and representatives of Entrepreneurs from China and ASEAN through this network at such anextraordinary time. This year marks the 45th anniversary of China-Philippines diplomatic ties. In June, the Chinese President Xi Jin Ping, PhilippinePresident Duterte stressed on the phone that, the governments and peoples ofChina and the Philippines have supported each other and fought the epidemic together, reflecting their brotherly friendship. Leaders of the two countrieshave reached consensus to increase friendship and unity between the twocountries, strengthen China's "One Belt And One Road" strategy andalign it with the Philippines' "Build, Build, Build" plan, deepen cooperation in various fields, promote the comprehensive progress was made instrategic cooperative relations. China and the Philippines should take this opportunity to develop the digital economy and promote digital industrialization and digitization of industries. Today, a large number of new technologies and reform shave brought about a huge impact on our work and life. New technologies that once seemed unimaginable are now common place and playing an increasingly important role in business operations. More and more companies will adopt cloud technology, big data, Internet of Things (IOT) and artificial intelligence (AI) into their core processes and management systems to improve efficiency and competitiveness. Here's how digital technology will affect us: Gartner predicts that nearly 184 million connected cars will be produced in the next five years. McKinsey estimates that theimpact of the Internet of Things could reach a staggering $11 trillion by 2025, equivalent to 11% of the world economy. Huawei's Global Industry Vision predicts that by 2025, 77% of the world's population will be connected through100 billion (100 billion) connections. 85% of enterprise applications will be in the cloud. 12%families will have smart home robots. The market is worth hundreds of billions of dollars. This is just the beginning. The future is a fully connected, super-intelligent world, and these changes will have a huge impacton our work and lives, boosting our economy and prosperity. Asean countriesshould strive to develop the digital economy and focus on building smartcities. To support the digital transformation, ASEAN is developing a"comprehensive Strategy for the Fourth Industrial Revolution" to address the problems brought about by the Fourth Industrial Revolution. At present, many Companies from China, the Philippinesand other ASEAN countries have adopted the "Digital Silk Road" business platform to make use of cross-border e-commerce. And working to address the challenges posed by the COVID-19 epidemic. Hereby, I would like to share my views with the government leaders and entrepreneurs of China and ASEAN countries. First, we need to strengthen digital infrastructure and create a digital China-Asean Free Trade Area. This year marks the 10th anniversary of the official launch of the China-Asean Free Trade Area, which is of historic significance. In the first half of this year, the trade volume of China-Asean free Trade Area increased by 5.6%. Today, ASEAN is China's largest trading partner. With the growth of international trade between China and ASEAN countries, the friendly exchanges between the two regions are very close. Digitization of industrial cooperation will become an important link in industrial transformation and upgrading and economic growth between China and ASEAN. As the Year of China-Asean digital Economy Cooperationand a turning point in China-Asean economic cooperation, it is imperative tobuild a "digital China-Asean Free Trade Area" in 2020. At the same time, the business community of the Philippines has the same aspiration to strengthen cooperation in the digital industry to promote the economic and social development of the Philippines, which is very important to help the Philippines overcome the economic difficulties caused by the epidemic. At present, the majority of ASEAN countries have a large space for the development of digitalindustry and a very broad market. Chinese and ASEAN businessmen should seizethe opportunity of digital economy transformation, realize win-win development,and strive to create a "digital China-Asean Free Trade Area". Second, we need to strengthen international cooperation and improve the development of digital industries. According to the 2019 forecast report of Temasek and Google, the Digital economy of the Philippines will grow from US $7 billion this year to US $25 billion in 2025, an early three-fold increase. This is the result of the rise of cross-bordere-commerce, which includes shopping platforms such as Shopee, Lazada and Zalora, and ride-hailing services such as Grab. Of the six countries in Southeast Asia, the Philippines has the smallest digital economy with the biggest growth potential. In fact, the Philippines has entered a "cashless society"and a "mobile-connected society" and is growing at a rapid rate. The epidemic has given a boost to online trading in the Philippines. Over the past few months, as a result of the epidemic, the government has imposed lockdown measures that have restricted people's access to their homes, so that everyone's daily life has shifted to online and mobile modes. When it comes to shopping, people avoid going to supermarkets, malls and other crowded places,and turn to Lazada, Shopee, Facebook and Viber groups to buy daily necessities,or order Food with Food Panda or Grab Food. Payments are also made on online,mobile banking platforms or WeChat, alipay, GCash, Paymaya, etc. Goods are also delivered through Grab, Lalamove, and other delivery services, so the streetsof Manila are filled with express motorcycles, and schools are using Zoom or Google Meet to teach students. As the epidemic has boosted digital banking across the Asia-Pacific region, customers are opting for mobile and online banking services,leading to more digital transactions and more contactless payments, accordingto S&P Global Ratings. As Chinese technology companies have world-leading technologies in cross-border e-commerce, digital consumption, online payment and other aspects, China will be the object of study for the Philippines and ASEAN countries. Therefore, to strengthen international cooperation with China,from government policies to enterprises' scientific and technological innovation to university personnel training, only through cooperation can we achieve the goal of mutual complementarity and win-win cooperation. Third, strengthen the exchange of talents. China and ASEAN are two huge markets with a population of nearly 2 billion and the most abundant human resources. In the second half of 2019, China and ASEAN countries exchanged more students than the "Double one hundred thousand" number, marking an unprecedented close of talent exchange and academic cooperation. Today's forum brings together government leaders, experts, scholars and entrepreneurs from ASEAN countries and China. This is a good opportunity to further strengthen international cooperation between universities, especially in the fields of big data center, artificial intelligence, industrial Internet and Internet of Things. By exchanging students and strengthening scientific research cooperation, ASEAN will become a new field of China's digital economy innovation theory and practice. China will also become the largest exporter of talents and technology in the digital economy industry in ASEAN. Through the international cooperation between universities and universities and between universities and enterprises, China will promote the new economic market and build a "digital China-Asean FreeTrade Area". The Philippines has a large number of high-quality labor force and has maintained rapid growth in agriculture, service industry and tourism for many years in a row. Among them, agricultural export and tourism, two important industries, are also key areas for international cross-border e-commerce cooperation and promotion of digital tourism services. Here,I would also like to extend an invitation to business leaders from our sister Asean countries and welcome you to the Philippines for cooperation. Ladies and gentlemen, virus prevention and control measures have become a new global norm. China and ASEAN should actively explore ways to strengthen cooperation in e-commerce, 5G, big data, artificial intelligence and cloud computing. By building the Digital silk Road and the Green Silk Road, we can not only promote economic recovery on the basis of transformation and upgrading, but also achieve high-quality sustainable development for the benefits of our two countries. Souce: PSRICC official Wechat Account
The mirage of cheap China: Daryl Guppy
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The mirage of cheap China: Daryl Guppy
27 Jul 2020
A girl visits the Smart China Expo in Chongqing, southwestern China, August 25, 2019. /Xinhua Editor's note: Daryl Guppy is an international financial technical analysis expert. He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's opinion and not necessarily the views of CGTN. Cheap China is the ruin of us all – or so goes the populist cry led by the septuagenarian leader, Trump, and his equally old advisers, Bolton, Navarro and Kudlow. Not that age is necessarily a barrier to modern thinking, but in some cases, it is a significant barrier when outdated ideas about China provide a foundation of national policy approaches. This is a concern for investors because they must decide if it's better to invest in the reality or invest in the myth. Anyone who has worked in China in the past decade knows that China is no longer cheap. Taking a leaf from Singapore's development book, China made a conscious effort to move away from the cheap labor and export dependency models. Chinese policymakers understood the low-wages model would not allow China to develop into a high-income economy. The 2008 global financial crisis' (GFC) impact on Western economies meant China accelerated the rebalancing of its economic structure. It has two interrelated changes that have gone largely unnoticed by Western policymakers. The first was the way the GFC exposed vulnerability in the Chinese economy's heavy dependence on exports for prosperity. China quietly but determinedly moved to change the economic balance away from heavy reliance on exports with increased emphasis on domestic consumption. World Bank figures show exports fell from 36 percent of the GDP in 2007 to 19 percent in 2018. This rebalancing has been a decade-long program, and it continues. The second change that came with reducing reliance on overseas markets and exports was to enhance the domestic economy. It is not possible to increase domestic demand when people are on low wages. China mandated a consistent annual increase in wages for five years. The lifted wages, improved domestic consumption and drove Western businesses offshore to Vietnam and elsewhere because they were only interested in cheap labor. Workers' wages have risen dramatically in China so that it is no longer a low-end manufacturing sweatshop. Improved domestic consumption underpins the modern Chinese economy. It has been made possible by developing a more closely integrated, huge domestic market and promoting growth driven by "internal circulation." Old logistics and supply chains have been augmented by the Belt and Road Initiative (BRI), which has brought previously excluded economies and commodity suppliers into Central Asia. China is now less dependent upon Western export markets for economic success. These older export markets are being supplemented with new BRI export markets. The expansion of the BRI economies is helped by improved logistics and infrastructure access developed under the BRI framework. A resident scans the QR code of a mini-program to access health information in Beijing, March 10, 2020. /Xinhua For the past decade, China has remained an important global manufacturer, but the real driver of economic performance is the rapid growth in domestic purchasing power and fixed-asset investments, especially in the country's thriving technology sector. Growing domestic demand creates further expansion and opportunities for investors and boosts global economic growth. Again, the nature of this development is only just being appreciated by Western countries, and for some, it is a frightening wake-up call. Their focus has been on the traditional infrastructure of roads, bridges and railways. These infrastructure builds have played an important role in opening up the Chinese domestic economy. Improved transport infrastructure means, for instance, that the commodity economy of Xinjiang is now just a two-day fast rail trip from the domestic demand centers of Shanghai and Beijing. This drives economic growth by integrating China's far-flung regions into a larger domestic economy. Without a doubt, the GFC provided additional impetus to this hard-infrastructure development. Alongside the high-speed rails was the software IT infrastructure needed to make it work, and this is the aspect that Western analysts failed to recognize. China has consistently supported the construction of large-scale information and communication infrastructure networks that underpin both modern transport infrastructure and the modern economy. Private enterprises are encouraged to innovate in cutting-edge sectors, such as mobile payments, e-commerce, the Internet of Things and smart manufacturing. The benefits are clearly seen in China's response to COVID-19. Compared with Western countries, China's more advanced 5G networks better supported AI and robotics to deliver services in hospitals. It enabled efficient contact tracing and disease management with mobile apps providing user's health status. Western countries with their comparatively weaker IT infrastructure have struggled to match these innovative approaches. Contact tracing in the United States, and in many parts of Europe, still largely relies on telephone calls, so the spread of COVID-19 has been much greater. The septuagenarians have not yet fully appreciated the significance of the economic rebalancing away from "cheap China" exports, so they try to contain China by targeting its position in global trade and supply chains in the belief that this will cripple the Chinese economy. This reflects a basic misunderstanding of how the Chinese economy has rebalanced, first in reaction to the GFC, and most recently, in response to the COVID-19 crisis with its increased emphasis on the growth of domestic consumption. The story of the Chinese economy is not one of resilience, although that is also a factor. The story is one of rapid and successful economic adaptation through rebalancing. Understanding the contradictions between reality and outdated perceptions does not resolve the investment dilemma, but failing to recognize this divergence is an investment risk. Source: CGTN
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