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B&R News: China moves to offer easier access for foreign investment
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B&R News: China moves to offer easier access for foreign investment
23 May 2018
A press conference of the State Council Information Office is held in Beijing, capital of China, May 22, 2018. (Xinhua/Shen Bohan) China is quickening preparations for the introduction of new practices to cut red tape for business filing and registration of foreign-invested enterprises (FIEs) as part of efforts to attract more investment inflows, authorities said Tuesday. Starting June 30, China will adopt single form and one-stop services to allow FIEs to conduct business filing and registration online free of charge, without the need for paperwork or presence in person. To get ready for the new rules, local authorities have formulated action plans and stepped up technical preparations, Vice Minister of Commerce Wang Shouwen disclosed at a press conference. Since last year, Beijing has piloted the practice, which offered services to more than 600 businesses and has proved to be effective in cutting their costs, according to Wang. The move came as China has been pushing for easier access for foreign investment, with an array of favorable policies rolled out this year. According to a statement released after a State Council executive meeting earlier this month, China will streamline procedures for the establishment of foreign-funded companies in order to promote trade and facilitate investment. Data showed China witnessed fast growth in new foreign-funded companies in the first four months this year thanks to those policies. The number of new foreign-funded companies surged 95.4 percent year on year to 19,002 in January-April period, data from the Ministry of Commerce showed. Source: Belt and Road Portal
Member Updates: Invitation to The Belt and Road Conference in Australia
Member Updates: Invitation to The Belt and Road Conference in Australia
23 May 2018
The conference One Belt One Road in Australia will take place in Darwin, Australia from 10 July to 12 July. The conference will bring together Chinese and Australian think tank leaders, policy planners, business entrepreneurs and Asian Infrastructure Investment Bank (AIIB) investment managers to learn the benefits of the policy and toset the development and investment agenda. Mr. Michael Gunner, Chief Minister of the Northern Territory, Mr. Geoff Raby, Former Australian Ambassador to China, Mr. Li Zhonghang, SRCIC Vice Chairman and Secretary-General, and many honored speakers and delegates will be present at the conference. This is the first time in Australia to hold conference under the framework of the Belt and Road Initiative. Darwin, located at the southern end of the Maritime Silk Road, is the closest capital city to Asia, and is the ideal location for this ground-breaking discussion. As the event organizer, Australia China Business Council (ACBC) is a membership-based, non-profit, non-governmental organization comprised of national office, eight branches, and more than 1500 representatives from over 900 Australian companies. ACBC welcomes all enterprises who are interested in the Belt and Road construction to attendthe conference. For more information and registration: https://aapevents.eventsair.com/QuickEventWebsitePortal/one-belt-one-road/information Contact: Emma Wei Mobile:+86 187 0674 4591 Email:ewei@srcic.com
B&R News: China's investment in B&R countries in Jan-Apr up 17.3 percent
B&R News: China's investment in B&R countries in Jan-Apr up 17.3 percent
22 May 2018
In the first four months of the year, Chinese enterprises' non-financial direct investment in 53 countries along the Belt and Road totaled 4.67 billion U.S. dollars, an increase of 17.3 percent year on year, accounting for 13.1 percent of the countries' outbound investment in the period, according to the Ministry of Commerce. The investments went mainly to countries including Singapore, Laos, Malaysia, Vietnam, Indonesia, Pakistan, Thailand and Myanmar. In respect of overseas contracting projects, the number of the newly-signed engineering project contracts of the Chinese enterprises in the countries along the Belt and Road was 1,010 in the first four months of the year, with the contracts worth 28.83 billion U.S. dollars, accounting for 47 percent of the country's newly-signed foreign engineering contracts, and down 9.5 percent year on year. Meanwhile, the accomplished turnover of these contracts along the Belt and Road amounted to 24.2 billion U.S. dollars, accounting for 54 percent of the total in the same period, and representing a year-on-year increase of 27.7 percent. Source: Xinhua Silk Road Information Service
Member Updates: Invitation to Sri Lanka and India Business Tour
Member Updates: Invitation to Sri Lanka and India Business Tour
22 May 2018
At the invitation of Ceylon Chamber of Commerce and Asian Infrastructure Investment Bank (AIIB), Silk Road Chamber of International Commerce (SRCIC) will lead a business delegation to visit Sir Lanka and India during 18-27 June 2018. This visit will focus on investigation of programs in infrastructure, finance, jewel crafting, import and export, trade and agriculture. Activities will include meetings with Sri Lanka government officials, on-spot investigation, program matching and communication with Indian government officials and AIIB member countries’ representatives. The delegation will also participate in the Sri Lanka Investment and Business Conference and the 3rd Annual Meeting of AIIB in Mumbai, India. Welcome interested enterprises for participation! Please download the programfor theSri Lankaand India Business Tour. For more information: Phoenix Liu Mobile: (86)186 2902 8721 Email: pliu@srcic.com Doris Li Mobile: (86)18702965817 Email: dli@srcic.com
Member Updates: BelCCI and Azpromo at SIAL CHINA 2018
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Member Updates: BelCCI and Azpromo at SIAL CHINA 2018
18 May 2018
On 18 May 2018, the 3-day SIAL CHINA 2018 was successfully concluded in Shanghai. SRCIC members - Belarusian Chamber of Commerce and Industry (BelCCI) and Azerbaijan Export and Investment Promotion Foundation (Azpromo) – had brought over 40 leading food businesses to the fair to exhibit their dairy products, beverages, meat, saffron, candies, and more. SRCIC helped to facilitate business communication among Chinese food and trade companies, Azerbaijani exhibitors, and Belarusian exhibitors throughout the event. H. E. Teymur Nadiroghlu, Envoy Extraordinary and Minister Plenipotentiary of Azerbaijan to China showed Ms. Zhang Guohua from SRCIC Shanghai Office and Mr. Sun Baoshan, Manager of Shanghai Silk Road E-Commerce Co., Ltd. around the Azerbaijani booths, introduced Azerbaijani food products, especially the saffron, and exchanged cooperation ideas. Shanghai Sheng Kun Trade Co., Ltd. placed an order for the products to Smorgon Dairy Products Branch Lida Milk Plant at the fair. And the buyer intends to visit the Plant for further cooperation talks in the near future. H.E. Ihar Brylo, Deputy Minister of Ministry of Agriculture and Food of the Republic of Belarus, Dr. Valeriy M. Matsel, Consulate General of the Republic of Belarus in Shanghai, H.E. Teymur Nadiroghlu, Envoy Extraordinary and Minister Plenipotentiary from Embassy of the Republic of Azerbaijan to China and all exhibitors expressed their gratitude to SRCIC for its support and assistance, and hoped SRCIC would continue its role to promote communication and collaboration among Belt and Road countries. SRCIC Deputy Secretary General Ms. Tian Xiaohong appreciated the positive comments and invited BelCCI, Azpromo and their members to participate in the 1st China International Import Expo to be held during November 5-10 in Shanghai. Ms. Tian reiterated SRCIC's commitment to providing quality service and support to its members.
B&R News: Chinese investment in B&R economies exceeds $70b
B&R News: Chinese investment in B&R economies exceeds $70b
18 May 2018
China has invested more than $70 billion in countries and regions involved in the Belt and Road Initiative since its inception in 2013, with commodity trade exceeding $5 trillion, according to the country's top economic regulator. China has set up 75 overseas economic and trade cooperation zones, with an investment exceeding $27 billion and created jobs for more than 200,000 local people, said Meng Wei, spokesperson of the National Development and Reform Commission, during a press conference in Beijing on Wednesday. In addition, China's Silk Road Fund has inked 19 projects with committed investment of $7 billion. Infrastructure investment and other projects within the framework of the China-proposed Belt and Road Initiative has proved beneficial for China as well as economies involved in the initiative since China held the Belt and Road Forum for International Cooperation in Beijing last May. Proposed in 2013, the Silk Road Economic Belt and the 21st Century Maritime Silk Road aimed to build trade and infrastructure networks connecting Asia with Europe and Africa on and beyond the ancient Silk Road routes. "China has signed 103 cooperation documents with 88 countries and international organizations on jointly constructing the Belt and Road Initiative during the past year. 255 of the agreements reached during last year's forum are under progress with 24 of them progressing steadily," said Meng. The 142-km-long Jakarta to Bandung high-speed railway, the first such railway in Indonesia as well as China's first overseas high-speed rail project, is currently proceeding well and has recently made several breakthroughs, she said. The cooperative rail project under the Belt and Road Initiative uses the technically advanced CR400 trains, and takes local climate and customs into consideration in its design. Lu Dongfu, general manager of China Railway, said earlier that Chinese companies will do the best to build a modern high-speed railway for Indonesia. According to Meng, other projects including the Gwadar Port in Pakistan and the second line of the China-Russia oil pipeline, are proceeding well. The China-Europe rail service has also reached 42 cities and covers 14 countries in Europe so far. The Belt and Road is an open and tolerant platform for international cooperation, and all economies are welcome to jointly participate. Some western multinationals are already participating, she added. The projects related to the initiative are mostly commercial projects, she said. However, the Chinese government will suggest the companies to release the early stage information of the projects as well as related information to the public, she said. Source: China Daily
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