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B&R News: Mainland and Hong Kong Economic and Trade Co-operation Committee convenes first meeting
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B&R News: Mainland and Hong Kong Economic and Trade Co-operation Committee convenes first meeting
14 Dec 2018
The Mainland and Hong Kong Economic and Trade Co-operation Committee convened its first meeting in Hong Kong on December 14.The meetingwas co-chaired by the Financial Secretary, Mr. Paul Chan, and the China International Trade Representative and Vice Minister of Commerce, Mr. Fu Ziying. The Committee was established by the Mainland and Hong Kong to enhance economic and trade co-operation. At today's meeting, discussions were held on five work priorities, namely the enhancement and implementation of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA), supporting Hong Kong's participation in the Belt and Road Initiative, jointly promoting the economic and trade co-operation of the Guangdong-Hong Kong-Macao Greater Bay Area, supporting Hong Kong's participation in regional economic co-operation and promoting exchanges between both sides on other economic and trade matters. Mr. Chan said, "The Mainland and Hong Kong have all along maintained close economic and trade relations. Since the signing of CEPA 15 years ago, we have been actively pursuing trade and investment liberalisation and facilitation, which promoted the economic development of both sides. The establishment of the Committee will elevate the co-operation and exchanges between us to a new level, laying a solid foundation for further economic and trade co-operation." At the meeting, the two sides reached consensus on the working targets for the next phase of liberalisation on trade in services under CEPA. To support Hong Kong's full participation in and contribution to the Belt and Road Initiative, the Mainland and Hong Kong Belt and Road Task Group was established under the Committee to co-ordinate related matters in the trade and economic co-operation areas. During the meeting, the two sides examined the proposed modus operandi of the Task Group. The Hong Kong side introduced the Hong Kong Special Administrative Region (HKSAR) Government's strategies in promoting participation in the Belt and Road Initiative, and proposed that both sides strengthen co-operation. After the meetings of the Committee and the Task Group, the Chief Executive, Mrs. Carrie Lam, witnessed the signing of the Agreement of Trade in Goods under the CEPA framework by Mr. Chan and Mr. Fu, who represented the Governments of the two places. The Agreement consolidates and updates the commitments on liberalisation and facilitation of trade in goods under CEPA, further enhancing the level of liberalisation. Source: The Government of the Hong Kong Special Administrative Region
B&R News: CEDB holds Belt and Road: Hong Kong – IN Forum
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B&R News: CEDB holds Belt and Road: Hong Kong – IN Forum
12 Dec 2018
The Commerce and Economic Development Bureau (CEDB) held the "Belt and Road: Hong Kong – IN" Forum today (December 12) to explore how professionals and start-ups might use Hong Kong as a springboard for the Belt and Road markets. More than 650 professionals from various service sectors including accounting, insurance and risk management, finance, infrastructure and related construction, legal and dispute resolution, project management, as well as business and industrial representatives and young innovation and technology entrepreneurs, participated in the Forum. The Chief Executive, Mrs. Carrie Lam, and the Deputy Director of the Hong Kong and Macao Affairs Office of the State Council, Mr. Huang Liuquan, delivered opening remarks at the Forum. Chief Executive of Hong Kong SAR Carrie Lam Mrs. Lam said that the Belt and Road Initiative involves manifold infrastructure projects such asairports, railways, ports and energy, as well as the development of Economic and Trade Co-operation Zones and new cities. Professionals and entrepreneurs from different sectors can capitalise on Hong Kong's edge in professional services and their own expertise by participating in these projects, fully demonstrating Hong Kong's "can do" spirit. At the sharing session of the Forum, the Executive Chairman of the Alibaba Group, Mr. Jack Ma, offered his insights from the perspective of private enterprises on leveraging Hong Kong's advantages in professional services and expertise to serve asthe launch-pad into the Belt and Road markets. In particular, he shared with the audience Belt and Road opportunities that are available for young professionals and those areaswhere they might make a contribution. The Secretary for Commerce and Economic Development, Mr. Edward Yau, was the moderator of the sharing session. Executive Chairman of Alibaba Group Jack Ma Following the Forum, Mrs. Lam, Mr. Huang, Mr. Yau and Mr. Ma, together with the President of the Hong Kong Polytechnic University (PolyU), Professor Timothy Tong, and the Chairman of the Hong Kong Chinese Enterprises Association, Mr. Gao Yingxin, officiated at the inauguration of the Belt and Road Cross-Professional Advancement Programme. Inauguration of the Belt and Road Cross-Professional Advancement Programme The Belt and Road Cross-Professional Advancement Programme, which is undertaken by PolyU with funding support from the Professional Services Advancement Support Scheme managed by the CEDB, seeks to better equip Hong Kong professionals in meeting the challenges and grasping the opportunities brought about by the Belt and Road Initiative. Through collaboration with the Hong Kong Chinese Enterprises Association and other Hong Kong professional associations, workshops and cross-professional networking and sharing sessions will be organised under the Programme, which will initially lastfor 12 months. Hong Kong professionals will be connected with business leaders andacademics from Belt and Road-related countries and regions. Programme participants will be able to network, share knowledge and collaborate in aspects ofthe Belt and Road, while at the same timeutilising the strengths of Hong Kong professional services, thereby facilitating the partnership between professionals and businessesin grasping Belt and Road opportunities together. Source: Government World
B&R News: UN hosts dialogue on Belt and Road Initiative and the 2030 Agenda in Cambodia
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B&R News: UN hosts dialogue on Belt and Road Initiative and the 2030 Agenda in Cambodia
11 Dec 2018
PHNOM PENH, Cambodia – United Nations in Cambodia has embarked on a research initiative to establish why, and how, both the Belt and Road Initiative and the 2030 Agenda for Sustainable Development are critical for realizing the Royal Government of Cambodia' s vision to become an Upper Middle-Income Country by 2030. The UN has been working with a multi-disciplinary and diverse team of experts from Cambodia, China, and Singapore. "On the Belt and Road Initiative and other related topics, we are determined to engage into deep analysis that rests on evidenced-based research," says Pauline Tamesis, UN Resident Coordinator in Cambodia. "Our intention is to move beyond the headlines and preconceived ideas, so we can explore sustainable development as it is – complex and multidimensional". During the dialogue, a panel of experts shared their findings and recommendations from their respective research. The research highlights that Cambodia's economic success is closely linked to the performance of other economies in the region. The Belt and Road Initiative provides several opportunities to sustain economic prosperity, along with the 2030 Agenda for Sustainable Development, which has been recently localized by the Royal Government through the Cambodia Sustainable Development Goals (CSDGs). "The Royal Government of Cambodia is committed to achieve the 2030 Agenda's vision. While BRI has offered timely opportunities, Cambodia should have innovative policies and build robust institutions in order to maintain high growth and to achieve goals under the CSDGs," says H.E. Luyna Ung, Member of Supreme National Economic Council. "Today's dialogue is the latest in a series of public discussions and policy engagement on the Belt and Road Initiative that the UN had begun with Professor Yuen Yuen Ang's keynote address back in August this year on The Real China Model: What other developing countries should learn from China," says Tamesis. Source: United Nations in Cambodia website
B&R News: China's Belt and Road Initiative is poised to transform the clean energy industry
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B&R News: China's Belt and Road Initiative is poised to transform the clean energy industry
11 Dec 2018
Beijing, China's 12th Five-Year Plan focuses on investments in advanced technologies, especially clean energy technology. The Beijing-led initiative is expected to span 76 countries across four continents, overlapping one-third of global GDP, a quarter of all traded goods, and more than 60% of the world's total population. Participants include Russia, Poland, Hungary, Greece, Israel, Austria, Serbia, Estonia, Malaysia, Indonesia, Kenya, Pakistan, and Saudi Arabia, among others. The Clean Energy Superpower China will invest more than $6 trillion in low-carbon power generation and other clean-energy technologies over the next 20 years. Global energy demand is expected to rise 30 percent by 2040 with investments in new power generation capacity expanding to $10.2 trillion. The U.S. Department of Energy estimates that China has already invested $47 billion in solar panel manufacturing. China has issued nearly $25 billion worth of green bonds for infrastructure investments across a range of categories including clean energy, clean transport, resource conservation and recycling, pollution prevention and control, energy saving, and ecological protection. Greening the New Silk Road According to the IEA, China now has one-third of the world's wind power, four of the top ten wind-turbine makers, six of the top ten solar-panel manufacturers, and a quarter of the world’s solar capacity. China hopes to provide "green, low-carbon and circular development" to Asia's 4.3 billion consumers in the development of a "Green Belt and Road". To put things in perspective, renewables are expected to meet more than 70% of global electricity generation growth by 2023. Forecasts by McKinsey suggest that electricity will account for a quarter of all energy demand by 2050 (compared with just 18 percent today). In fact, more than three-quarters of all new capacity (77 percent) will come from wind and solar and just 13 percent from natural gas. Given the continuing fall in the cost of battery storage and the massive growth in electric vehicles (50% of all cars by 2050), China's clean energy investments through BRI look poised to transform the global clean energy industry. Source: partly from Brookings Institution website
SRCIC 3rd Anniversary Celebration: 2018 Silk Road International Fashion Week
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SRCIC 3rd Anniversary Celebration: 2018 Silk Road International Fashion Week
11 Dec 2018
In celebration of SRCIC 3rd Anniversary, 2018 Silk Road International Fashion Week, co-organized by Silk Road Chamber of International Commerce (SRCIC), Zhongguancun Global Fashion Creative Industry Union, and Department of Culture, Radio, Film, TV, Press and Publication of Xi' an, was successfully held at Tang West Market Museum in Xi' an on 6-10 December. The closing ceremony was also held at Tang West Market Museum on 10 December. SRCIC Vice chairman and Secretary General Li Zhonghang (R3), Silk Road International Fashion week Committee Chairman Wang Haotian (L3) and winners of model contest SRCIC Vice Chairman and Secretary General Li Zhonghang indicated in his speech, “SRCIC has currently 129 organizational members from 77 countries since its establishment on December 10, 2015 and has earned a reputation as a Super Liaison and an Action Team in the Belt and Road construction. Over the past three years, SRCIC has hosted nine important conferences, over 24 countries' international visits and road shows, putting its effort in establishing a mechanism platform, in promoting pragmatic cooperation and cultural exchanges. As SRCIC Founding Chairman Lu Jianzhong said we are engaged in a sunshine course, a respected course, an international course, and a course to be continued.” Li Zhonghang addresses at Fashion Craftsman “Golden Lei” awarding ceremony 72 contestants from over 30 countries entered into the final of the 2018 AMA Asian International Super Model Contest. After intense competition, the most expressive award, the best performance award, top 10 model awards, and the first, second and third prizes were shared by the contestants. Besides, the SRCIC Silk Road Star awards were especially conferred by SRCIC Vice Chairman Li Zhonghang, SRCIC Deputy Secretary General Diane Bian and Ken Li for contestants. SRCIC Vice Chairman Li Zhonghang, SRCIC Deputy Secretary General Diane Bian and Ken Li, and winners of SRCIC Silk Road Star awards Awarding ceremony for top 10 models 8 designers won the awards of Fashion Designer, Fashion Modelling and Fashion Inheritance respectively. "Golden Lei"Awarding ceremony Silk Road International Fashion Week with the slogan of “fashion invitation from Xi’an to the world” is aimed at attracting the best fashion designers among the Silk Road countries, protecting the cultural, artistic and intangible heritages, presenting fashion design to international community, and inheriting the pioneering spirit of the Silk Road. In along with the fashion week, the Silk Road International Fashion Forum was also held for designers from Italy, South Korea, Singapore, Indonesia and other countries to discuss the Xi’an fashion industry development at SRCIC Belt and Road Exhibition center. Silk Road International Fashion Forum SRCIC Deputy Secretary General Ken Li and Zhongguancun Global Fashion Creative Industry Union Secretary General Wang Haotian signed a memorandum of understanding (MOU) on behalf of SRCIC and Zhongguancun Global Fashion Creative Industry Union respectively. MOU signing ceremony Reference Links 2018 Silk Road International Fashion Week is going to be held in Xi’an http://www.srcic.org/news/2018-silk-road-international-fashion-week-to-be-held-in-xian/ Opening ceremony of 2018 Silk Road International Fashion Week at Tang West Market Museum http://www.srcic.org/news/2018-silk-road-international-fashion-week-at-tang-west-market-museum/
B&R News: China's trade with B&R countries increases 14.4pct in first 11 months
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B&R News: China's trade with B&R countries increases 14.4pct in first 11 months
10 Dec 2018
China's goods trade rose 11.1 percent year on year to 27.88 trillion yuan (about 4 trillion U.S. dollars) in the first 11 months this year, customs data showed Saturday. The value has already exceeded the total foreign trade registered last year, said the General Administration of Customs (GAC) in an online statement. Exports rose 8.2 percent year on year to 14.92 trillion yuan in the January-November period while imports grew 14.6 percent to 12.96 trillion yuan, resulting in a trade surplus of 1.96 trillion yuan, which narrowed by 21.1 percent, the GAC said. In the first 11 months, exports and imports of products under the general trade category surged 13.9 percent year on year to 16.13 trillion yuan, accounting for 57.9 percent of the total foreign trade, 1.4 percentage points higher than the same period last year. China's trade with the European Union rose 8.7 percent to 4.1 trillion yuan, accounting for 14.7 percent of China's total trade volume. Trade with the United States increased 7.2 percent to 3.83 trillion yuan, or 13.7 percent of the total. Trade with the ASEAN countries reached 3.55 trillion yuan, up 12.9 percent, accounting for 12.7 percent of the total. Trade with Japan rose 6.1 percent to 1.98 trillion yuan, or 7.1 percent of the total. Trade with countries along the Belt and Road registered faster-than-average growth, with the trade volume standing at 7.62 trillion yuan, up 14.4 percent year on year. Chinese private enterprises played a bigger role in trade by contributing 39.6 percent to total trade, up 1.2 percentage points compared with the same period last year. Source:Xinhua News Agency
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