RCEP set to unleash great trade potential
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RCEP set to unleash great trade potential
29 Nov 2021
Six member states from the Association of Southeast Asian Nations, Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam-along with four non-ASEAN countries, namely China, Japan, New Zealand and Australia-have formally submitted their Regional Comprehensive Economic Partnership agreement ratifications to ASEAN's secretariat, with the deal expected to come into force in these 10 countries at the start of next year. The RCEP reaches beyond the concept of "regional economic integration". Why is the RCEP considered as the free trade agreement with the highest potential in the world? What is the significance of its becoming a reality? After the agreement takes effect, the global economy will enter a new era of "Asian times" or "Asia-Pacific times". In the future, the Asia-Pacific region will remain the economic growth powerhouse of the world, and Asia still home to the world's largest scale of production, supply and consumption. The RCEP region will become the world's largest free trade bloc. The agreement covers 3.5 billion people, or 47.4 percent of the planet's population. The combined gross domestic product of the area now stands at $26 trillion, which accounts for 32.2 percent of the world's total, while its foreign trade takes up 29.1 percent of all international trade. The figures above include those for India. Although the South Asian country ended negotiations regarding the agreement in 2019, the RCEP always welcomes its participation. More importantly, the RCEP region is made up of diversified economies that have different levels of development, as well as different political and social systems. The RCEP, reached at a difficult time with challenges from COVID-19 and anti-globalization sentiment, is expected to drive a new round of economic globalization through promoting free trade. The implementation of the agreement will also accelerate moves by global industrial technology firms, capital and talent toward Japan, South Korea and ASEAN, as well as China. Members of the RCEP have different development levels, and China's huge market is very attractive to others. The agreement will also have great influence on regional economic development and industrial and supply chain layouts. On the one hand, it will accelerate the expansion and deepening of regional industrial and supply chains. On the other, the agreement will provide institutional guarantees for the stabilization of regional industrial and supply chains. FTAs among countries in the region mainly cover trade in goods. The RCEP extends into the areas of services trade, investment and alignment of domestic rules with the agreement, which will better conform to the trend of regional economic integration. Personally, I think the RCEP has reached beyond the concept of "regional economic integration". It is understandable that India withdrew from the RCEP during the final stage of negotiations, perhaps in fear of its impact on the domestic market. In a free-trade bloc, flow of goods is free, without tariff barriers, and if a country cannot produce a product by itself, joining an FTA will only make it rely more on imports. The RCEP welcomes India whenever it is ready, and I'm positive that once India sees the benefits of the RCEP taking effect, it will join in soon after. Every preferential trade agreement or arrangement has its own tariff reduction list and rules of origin, or the criteria needed to determine the national source of a product, and a product will have different levels of tariff reduction and comply to different rules of origin under different FTAs. With implementation of the RCEP, 90 percent of goods traded in the region will enjoy zero tariffs. China has promised to completely open up 86-90 percent of goods, and promises zero-tariff treatment makes up about 90 percent of all tariffed items for the 10 ASEAN member states, as well as Australia and New Zealand. Apart from Laos, Cambodia and Myanmar, other countries above-mentioned have promised similar or slightly higher levels of zero-tariff item treatment. It is worthy of notice that the RCEP and other FTAs in the region complement and promote each other. The RCEP has tariff reductions for products that others don't, and vice versa. The cumulative rules of origin, using accumulated regional value to determine the origin of a product in the region, is the most significant achievement of the RCEP in goods trade. Unlike bilateral rules of origin adopted by most FTAs, with the RCEP, when a product gets into country B from country A, its intermediates from the signatory members can accumulate to meet the values or production requirements to enjoy tariff reductions, so that it will be easier for products to enjoy zero tariffs. In addition, the RCEP members have achieved high-level rules for trade facilitation in terms of Customs procedures, inspection and quarantine, and technical standards. When those rules take effect, the agreement will significantly reduce trade costs within the region, increase competitiveness of regional products, and unleash demand for even more commerce, thus bring more business opportunities to enterprises and more choices and benefits to customers. Members of the RCEP include developed, developing and less-developed economies, which all focus on their own weaknesses and hope the agreement will be more in line with their own interests. During the negotiation period of the RCEP, some countries feared they may not be able to withstand tariff reductions implemented too quickly and broadly, and preferred to focus on domestic market protection. In addition, the industrial structure of various countries also differs, with distinctive characteristics. For instance, India has a relatively weak manufacturing capacity, but is strong in the services sector. Therefore, it hoped to maximize the level of opening-up in the services sector while minimizing the opening-up of other areas. South Korea and Japan wanted their agricultural sectors protected, while China wanted its services sector to be gradually opened up. There was of course some jockeying for related topics due to such different interests and demands. Countries engaging in the negotiations have different political and social systems, different levels of development, and different demands. The RCEP will also reshape the economic relations between China and Japan. The signing of the agreement signified the establishment of direct free-trade relations between the two for the first time. During the first three decades after China started reform and opening-up, Japan's investment in China was mainly of the "re-exporting "variety, that is, it invested in China, and then exported the products produced in China elsewhere. Then, as China's domestic market expanded, some Japanese enterprises started to focus on China's own market with their investments. According to statistics from Japan, 45 percent of Japanese enterprises invest in China to export products produced here, while 35 percent invest in China for the Chinese market, and 20 percent do both. Many Japanese friends told me they are eager to switch from re-exporting investment toward China market-focused investment, and with the RCEP, they can better press ahead with this strategy. Moreover, while the joining of the RCEP by both China and Japan will reshape their economic relations, their economic and trade cooperation will become even closer as China is expected to officially join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in the future. The author is vice-chairman of the Beijing-based China Center for International Economic Exchanges, and a former vice-minister of commerce. The views don't necessarily reflect those of China Daily. Source: China Daily
China-ASEAN financial cooperation to provide stronger support for bilateral real economy, expert
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China-ASEAN financial cooperation to provide stronger support for bilateral real economy, expert
26 Nov 2021
BEIJING, Nov.26 (Xinhua) -- With the establishment of China-ASEAN comprehensive strategic partnership and the expectable implementation of Regional Comprehensive Economic Partnership (RCEP) agreement, China and ASEAN countries are embracing significant opportunities for cooperation and finance plays an indispensable role in it, Fan Zuojun, professor and vice principal of Guangxi University, told Xinhua in an interview held in this week. When talking about the specific direction of China-ASEAN financial cooperation, Fan believes that modern financial technologies such as block chain, cloud computing and big data should be flexibly used to strengthen the construction of cross-border credit investigation platform system. According to Fan, the continuous development and innovation of financial technology provides great convenience to cross-border financial cooperation. Cross-border credit investigation platform construction can apply new financial technology to expand credit information sources, including the consumption behavior and transaction data of each economic subject, so as to provide accurate reference information for China and ASEAN financial institutions to carry out business. On the other hand, cross-border credit investigation platform construction can create a credit rating system suitable for the China-ASEAN region to better support enterprises' investment and financing and other businesses involving financial cooperation. Notably, Fan stressed the need to strengthen financial regulatory cooperation between China and ASEAN. Firstly, construction of bilateral financial infrastructure needs to be strengthened and differences in financial systems between countries shall be reduced. These require sound communication over respective policies between the two sides, reduction of policy restrictions on financial market access and business operation, and emphasis on common but different regulatory policies in the region. Secondly, a unified financial supervision organization within the region shall be established to strictly regulate the behavior of various financial market entities and provide strong institutional guarantee, according to Fan. Generally speaking, Fan believes that with more active economic and trade exchanges between China and ASEAN members, financial cooperation between China and ASEAN will make greater progress and will provide more support for real economy of each side. Source:Xinhua Silk Road
Interview: China plays vital role in promoting Asia-Europe cooperation: Singaporean scholar
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Interview: China plays vital role in promoting Asia-Europe cooperation: Singaporean scholar
26 Nov 2021
SINGAPORE, Nov. 25 (Xinhua) -- China has played a vital role in promoting Asia-Europe cooperation, said Yu Hong, a senior research fellow at the East Asian Institute of the National University of Singapore. Connectivity is an important area in cooperation between Asia and Europe, and the China-proposed Belt and Road Initiative (BRI) serves this purpose, Yu told Xinhua in an interview in the run-up to the 13th Asia-Europe Meeting (ASEM) Summit held via video conferencing from Thursday to Friday and hosted by Cambodia. The China-Europe freight train service under the BRI framework has been a special highlight, Yu said. Data from the China State Railway Group Co., Ltd. showed the China-Europe freight trains recorded 12,600 trips and transported more than 1.2 million TEUs of goods from January to October, exceeding the respective figures for the whole year of 2020. As the world's second-largest economy, China has been an important trading partner for most of the Asian and European countries, Yu said, adding that the China-Europe freight train service, by transporting face masks and other medical supplies, has assisted in the efforts to combat COVID-19 in Asia and Europe, and boosted the resilience of intercontinental supply chains and industrial chains. The freight train service not only increases the interconnectivity by land between Asia and Europe but also serves as an important link for their economic and trade cooperation, according to Yu. In Yu's eyes, Asia and Europe are both influential continents politically and economically, and are the world's important forces in promoting multilateralism and building a multi-polar world. The economic and trade ties between Asia and Europe are very strong and dynamic, Yu noted, and attributed the situation to the fact that they both have broad markets and are at different stages of economic development with highly complementary industrial structures. Yu said strengthening cooperation between Asia and Europe is particularly significant against the backdrop of the COVID-19 pandemic. Expanding two-way investment in increasing production capacity and broadening markets can help strengthen the resilience of regional and global supply chains and industrial chains, thus contributing to post-COVID-19 economic recovery in both continents, Yu said. In addition, Asia and Europe share interests in tackling climate challenges, especially in developing clean energy and reducing carbon dioxide emissions, Yu said, adding that the two sides can further tap the potential for cooperation in this field. Source: Xinhua
Xinhua Commentary: High-quality development of BRI good means to tackle turbulence
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Xinhua Commentary: High-quality development of BRI good means to tackle turbulence
26 Nov 2021
BEIJING, Nov. 25 (Xinhua) -- Promoting connectivity, openness and inclusiveness is the only way to cope with a world that has entered a period of turbulence. The Belt and Road Initiative (BRI) can play an important role in this. President Xi Jinping charted the course for continuing advancing high-quality development of the BRI at the just-concluded third high-level symposium on the initiative and put forward a series of key tasks that must be put in place. It demonstrates China's determination and confidence in expanding high-standard opening-up and jointly promoting high-quality development of the BRI. It also embodies China's role as a big country to promote the global economic recovery and build a community with a shared future for humanity. To promote the high-quality construction of the BRI is to let more countries and people gain from it. To achieve that, stronger political mutual trust, more cooperative mechanisms and a better connectivity network linking land, sea, air and cyberspace are needed. Meanwhile, efforts should be made to increase trade with neighboring countries, expand imports of high-quality products, promote international industrial-capacity cooperation and enhance financial connectivity and cultural exchanges. In addition, cooperation in health, green development, digital industry and innovation should be encouraged, as China will continue to engage in international cooperation of COVID-19 response, support developing countries in green and low-carbon energy development, advance the Silk Road E-Commerce initiative, and nurture an open, fair, equitable and nondiscriminatory environment for science and technology progress. As China has entered a new stage of development, implemented the new development philosophy, and built a new development pattern, it will provide stronger power, larger space and a better path for the joint construction of the BRI. It should be realized that the new development pattern that China builds is by no means a closed domestic circulation but an open and mutually-beneficial domestic and international dual circulation. Under the new development pattern, China's market potential will be fully stimulated to create more demand for countries around the world. China will further open up its door to the outside world to share development opportunities with other countries. China will continue to deepen international cooperation and achieve mutual benefit and win-win results with other countries. The BRI has become a popular international public product and cooperation platform. Projects to improve people's livelihood could be an effective means of increasing people's sense of fulfillment in countries along the Belt and Road. The so-called criticism of "debt trap" against BRI is totally unfounded. Multilateral financial institutions and commercial creditors hold more than three-quarters of African countries' total debts. So far, no BRI partner country has recognized the so-called "debt trap." According to the World Bank, by 2030, the BRI can help 7.6 million people get rid of extreme poverty and 32 million people get rid of moderate poverty. At present, economic globalization has shown new resilience, and the call for safeguarding multilateralism and strengthening communication and cooperation has become stronger. Experience in combating the pandemic has shown to people of all countries that the future of all countries is closely linked. Multilateralism should be firmly upheld. The BRI is a good means to achieve it. Source: Xinhua
​China-Singapore financial summit held to boost connectivity between western China, ASEAN countries
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​China-Singapore financial summit held to boost connectivity between western China, ASEAN countries
25 Nov 2021
BEIJING, Nov. 24 (Xinhua) -- The China-Singapore(Chongqing) Connectivity InitiativeFinancial Summit2021 kicked off Tuesday online and offline simultaneously in southwest China's Chongqing Municipality and Singapore. With the theme of "Deepening China-ASEAN Financial Cooperation, Creating a New Paradigm of Interconnectivity", the summit aims at boosting connectivity between western China and ASEAN countries by enhancing the financial cooperation between Chongqing and Singapore. A total of 85 projects were signed at the summit, with a contract value of 101.1 billion yuan. Among these projects, 31 involve financial institutions and entities with a contract value of 17.3 billion yuan. Besides, ten are key China-Singapore financial cooperation projects, with a contract value of 4.2 billion yuan and expected to play a leading role in financial technology, green finance, cross-borderinvestmentand cross-border service facilitation. ICHAM, a Singaporean company, will set up a Qualified Domestic Limited Partner (QDLP) private equity fund in the Liangjiang New Area of Chongqing. It will become the first Singaporean company to be granted the QDLP pilot qualification in China. The China-Singapore (Chongqing) Connectivity Initiative Financial Summit has been held successfully for three times since 2018, becoming a key platform for financial exchanges and cooperation between western China and ASEAN countries, a crucial window for the opening-up of the Chengdu-Chongqing Economic Circleand an important business card for Chongqing's financial opening-up and development. The China-Singapore (Chongqing) Connectivity Initiative, also known as the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity, is an inter-governmental cooperation project between China and Singapore officially launched on November 7, 2015, and mainly covers four key cooperation areas of financial services, aviation industry, transportation and logistics, and information communication. Source: Xinhua Silk Road
Belt and Road Initiative transforming Kenya's development space: report
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Belt and Road Initiative transforming Kenya's development space: report
25 Nov 2021
NAIROBI, Nov. 24 (Xinhua) -- The Belt and Road Initiative (BRI), proposed by China eight years ago, is transforming Kenya's development space in a profound way, said a report released Wednesday. According to the report by Africa Policy Institute, a pan-African think tank, since the BRI was proposed in 2013, China has supported modern infrastructure projects such as railways, roads, ports, dams, industries, digital connectivity which has injected vitality into Kenya's growth. "In less than a decade, Kenya has a brand new 670-kilometer modern Standard Gauge Railway (SGR) connecting the port of Mombasa and the inland (dry) port of Naivasha," said the report, titled "shared prosperity: tracking the belt and road initiative in Kenya, 2018-2021." The report examined the real impact of the BRI through specific projects within the five connectivity themes of infrastructure development, policy consultation, trade promotion, financial cooperation and people-to-people exchanges in Kenya. The BRI has so far supported projects such as the construction of roads, railways and ports that cut across and connect a total of 172 countries. According to the findings, Kenya's Chinese-built SGR has Africa's second largest underground tunnel which is a tourist attraction in its own right. The report indicated that as a result of the BRI, Kenya has many new industries employing thousands of people and boosting the economy. The report noted that Nairobi's skyline is changing, with some of Africa's tallest buildings emerging while thousands of students are benefiting from Chinese scholarships and training opportunities as part of people-to-people connections. Chinese Ambassador to Kenya Zhou Pingjian said that China and Kenya are good friends, good partners and good brothers. "Our fruitful and wide-ranging practical cooperation stands out in China-Africa cooperation," said Ambassador Zhou, noting China will work hand in hand with Kenya to take forward Belt and Road cooperation and implement the outcomes of the upcoming Eighth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) to deliver greater benefits to the people of both countries. The diplomat also said that openness brings progress, while self-imposed isolation leaves one behind. "Going forward, China will only become more and more open and continue to pursue the Belt and Road Initiative as a priority," said Zhou. He observed that as China embarks on a new historic journey, it stands ready to deepen the China-Africa partnership and promote sustainable development in order to build a China-Africa community with a shared future in the new era. Zhou said that for the BRI connectivity is vital, and the bedrock of connectivity is infrastructure. "It is the lack of infrastructure that has held up the development of many countries. Small wonder infrastructure development has been a top priority for China-Kenya Belt and Road cooperation in recent years and remarkable progress has been made in this regard through concerted efforts," he added. Kirimi Kaberia, the principal secretary for the Ministry of Industrialization, Trade and Enterprise Development, said BRI "has also improved Africa's continental interconnectivity, breaking borders and catalyzing intra-continental trade." Through BRI's formulation and implementation, in less than ten years, Kenya now has a new deep seaport in the coastal town of Lamu, the SGR which has transformed the delivery of goods, as well as thousands of kilometers of roads that have transformed logistics in the region, said Kaberia. "These initiatives have created new centers of industrialization and development," Kaberia added. Source: Xinhua
Deputy Director General of Shaanxi Provincial Department of Commerce visits SRCIC
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Deputy Director General of Shaanxi Provincial Department of Commerce visits SRCIC
17 Sep 2021
On the afternoon of September 16, a delegation led by Sun Jinghu, Deputy Director General of Shaanxi Provincial Department of Commerce, paid a survey visit to the Shaanxi Representative Office of Silk Road Chamber of International Commerce. Accompanied by Diane Bian, Secretary General of SRCIC, Deputy Director General Sun visited the Tang West Market Museum and had a discussion meeting at the Belt and Road Cultural Exhibition Center. Discussion meeting Secretary General Bian introduced the establishment and development of SRCIC, and expressed that SRCIC would give full play to its member resources and its role as a non-governmental organization, and strengthen its collaboration with Shaanxi enterprises by providing tailored networking services for those aspiring to “go out” and achieving innovative development. Deputy Director General Sun pointed out that as an overseas non-governmental organization, SRCIC should operate in accordance with laws and regulations. It should leverage its role as a platform and bridge to help local firms to “go out” and facilitate cooperation between them and their potential foreign partners. In doing so, SRCIC will make a contribution to the development of Shaanxi Province. The discussion was also joined by Director of Foreign Affairs Liaison Division of Shaanxi Provincial Department of Commerce Li Xiaoling, Director of Foreign Trade Division Li Lin, Deputy Director of Foreign Affairs Liaison Division Guo Chen, Deputy Secretary Generals of the SRCIC Li Qiang and Huang Zhe.
Concurso de Dibujo México-China
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Concurso de Dibujo México-China
16 Jul 2021
Concurso Internacional de Dibujo para Niños y Jóvenes 2021 Capítulo China-México A fin de promover el intercambio cultural entre niños y jóvenes de China y México, así como profundizar el entendimiento mutuo y la amistad, fortalecer la cooperación en la cultura, el arte y el turismo entre ambos países, invitamos a los niños y jóvenes de entre 3 y 16 años de edad a participar en el Concurso Internacional de Dibujo para Niños y Jóvenes 2021, organizado por la Cámara de Comercio Internacional de la Ruta de la Seda (Shanghái) y el Consulado General de México en Shanghái. El tema principal del concurso de dibujo es " México en los ojos de los niños y jóvenes", que incluye: la Amistad entre México y China, Viajar por México, Paisajes del Caribe, Cuentos de hadas populares, Arquitectura, Gastronomía, Danza folclórica, Artesanía en general y El Día de Muertos. Los participantes estarán divididos en tres grupos: de 3 a 6 años, de 6 a 9 años y de 9 a 16 años. El concurso quedará abierto a partir de la publicación de la presente convocatoria y hasta el 31 de agosto de 2021. Para mayor información, favor de consultar al siguiente correo electrónico (atención en inglés o mandarín): info@bwfer.com
E-courses and specialised programmes offered by ICC Academy: Part Two
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E-courses and specialised programmes offered by ICC Academy: Part Two
12 Jul 2021
Dear SRCIC members, We are delighted to present to you E-courses and specialised programmes on trade finance and cross border transactions (Part Two) provided by ICC Academy. INTERNATIONAL BUSINESS Incoterms® 2020 Certificate (INCO) The Incoterms® 2020 Certificate (INCO) provides a comprehensive working knowledge of ICC's globally recognised commercial trade terms, which offer specific guidance for corporate professionals involved in trade and international business transactions, trade and logistics professionals and those working in legal and regulatory affairs. This professional certificate helps traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods. The certification includes access to 7 online, interactive lessons and the final exam, also taken online. Total learning time is approximately 4-5 hours and the course is available in English or Spanish. › Lesson 1: Overview of Incoterms® Rules › Lesson 2: Definition of Incoterms® 2020 › Lesson 3: Obligations Part 1 › Lesson 4: Obligations Part 2 › Lesson 5: Comparison Matrix › Lesson 6: Industry Case Studies › Lesson 7: Assessment Learn more at: https://icc.academy/certifications/incoterms-2020-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Export/Import Certificate (EIC) The EIC is the ICC's international trade certification that provides comprehensive and practical knowledge on how to conduct cross-border transactions. It will benefit export and import managers, trade finance bankers, freight forwarders and carriers, customs brokers, private and government inspectors and auditors, insurance providers, trade lawyers and trade promotion executives. The certification is split across 5 courses and the final exam, all taken online. Each of the courses will take 3-4 hours to complete and is designed to give you an in-depth understanding of international trade processes and their related risks. In total the EIC will take approximately 21 hours to complete. COURSES › International Trade Overview › Business Transactions and Contracts › Financing and Security Devices › International Logistics and Sourcing › Global Business Management Learn more at: https://icc.academy/certifications/export-import-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Free Trade Agreement Certificate (FTAC) The ICC Academy's Free Trade Agreement Certificate (FTAC) is designed to simplify the often difficult and legalistic FTA rules to help businesses access new markets, higher gross margins through cost reduction, and the ability to source new suppliers at more competitive rates. This professional certificate provides a collaborative mapping of how business units can come together to overcome perceived technicalities and generate revenue-boosting solutions – applicable to any size and industry sector. Divided into 5 lessons, the programme was developed by Globalab's Principal Trainer, Maler Vilee, who has more than 15 years of experience working with governments in trade, investment and free trade agreements. The three-hour interactive course aims to train companies, especially small and medium-sized enterprises, to be adept at using FTAs to boost export competitiveness and identify new growth opportunities. › Lesson 1: Strategic Planning Behind FTAs › Lesson 2: Overview of the FTA basics › Lesson 3: Importance of FTAs for Business Operations › Lesson 4: Industry Case Studies › Lesson 5: Assessment Learn more at: https://icc.academy/certifications/free-trade-agreement-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Invoicing Solutions Certificate (ESC) The E-Invoicing Solutions Certificate (ESC) explains the steps necessary to adopt e-invoicing, the processes for successful implementation and its benefits with the aim of expanding business. Divided into 5 lessons, the programme has been created alongside Mastercard and in partnership with Basware and Xero. The certificate leverages a deep understanding of the digital payment ecosystem to increase the efficiency of an organisation’s finance operations while making it easier to transact with customers. › Lesson 1: Traditional Methods › Lesson 2: E-Invoicing Overview › Lesson 3: Going Digital › Lesson 4: Industry Case Studies › Lesson 5: Assessment Learn more at: https://icc.academy/e-invoicing-solutions-certificate-esc/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Microfinance Associate Certificate (MAC) The Microfinance Associate Certificate (MAC) provides a practical overview and leverage a deeper understanding of challenges and processes required to achieve businessreadiness for anyone joining the microfinance industry. Comprising 5 courses, the programme has been created in partnership with Satin Creditcare Network (SCNL), one of the world’s leading microfinance providers. Microfinance institutions and services provide financial assistance and awareness to people living in less-developed economies. The certificate covers the primary models, application methods and impact of microfinance, as well as the possible risks and mitigation strategies. Courses › Introduction to Microfinance › Microfinance Ecosystem and Application › Microfinance Technology and Analytics › Microfinance Risk and Mitigation › Microfinance Indicators and Impact Learn more at: https://icc.academy/microfinance-associate-certificate-mac/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC
E-courses and specialised programmes offered by ICC Academy: Part One
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E-courses and specialised programmes offered by ICC Academy: Part One
9 Jul 2021
Dear SRCIC members, We are delighted to present to you a series of e-courses and specialised programmes on trade finance and cross border transactions provided by ICC Academy. ABOUT THE ACADEMY Founded in 2015, The ICC Academy is a ground-breaking e-learning platform brought to you by the International Chamber of Commerce (ICC), the world’s business organization. We offer dynamic e-courses and specialised programmes on trade finance and cross border transactions designed by leading industry experts to meet the educational needs of banks, corporates and other organisations at the forefront of international trade. We are part of the International Chamber of Commerce (ICC) –the world’s largest business organization representing more than 45 million companies in over 100 countries. ICC’s core mission is to make business work for everyone, every day, everywhere. Through a unique mix of advocacy, solutions and standard setting, ICC promote international trade, responsible business conduct and a global approach to regulation, in addition to providing market-leading dispute resolution services. ABOUT THE COURSES & PROGRAMMES Part I: TRADE FINANCE Global Trade Certificate (GTC) The GTC is an introductory-level programme designed to help you build a foundational understanding of global trade finance solutions. It will benefit transactional and relationship managers—as well as executives from management, credit, legal and compliance functions. Comprising 6 core courses and 3 electives, the industry-validated syllabus was developed by a group of leading trade finance experts drawn from ICC’s Banking Commission. Each course has been tailor-made to learn the essentials of global trade finance. CORE COURSES › Introduction to Trade Finance › Introduction to Collections › Introduction to Distributor Finance › Introduction to Documentary Credits › Introduction to Guarantees › Introduction to Receivables Finance ELECTIVE OPTIONS (Select 3) › Introduction to Capital and Pricing › Introduction to Compliance › Introduction to Cross Border Trade › Introduction to Fraud and Reputational Risk › Introduction to Risk Distribution › Introduction to Standby Letters of Credit › Introduction to Supply Chain Finance › Introduction to Trade Finance Sales Learn more at: https://icc.academy/certifications/icc-global-trade-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Certified Trade Finance Professional (CTFP) The Certified Trade Finance Professional (CTFP) is an advanced professional certificate programme providing training and certification on key trade finance products, techniques and compliance issues. Comprising 5 core courses and 4 electives, the industry-validated syllabus was developed by a group of leading trade finance experts drawn from ICC’s Banking Commission. Each e-course has been tailor-made to develop the skills needed to sell, deliver and process global trade finance solutions. CORE COURSES › Advanced Working Capital for Trade › Advanced Documentary Credits › Advanced Guarantees › Advanced Supply Chain Finance › Export Finance ELECTIVE OPTIONS (Select 4) › Digital Trade Finance and Fintechs › Managing Trade Sales › Managing Trade Operations › Managing Trade Products › Advanced Commodity Finance › Advanced Standby Letters of Credit Learn more at: https://icc.academy/certified-trade-finance-professional/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC To be continued!
Sino-Greece Session: 2021 International Youth Friendly Art Exchange Competition
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Sino-Greece Session: 2021 International Youth Friendly Art Exchange Competition
6 Apr 2021
Aiming at the promotion of mutual understanding and friendship as well as of cooperation in the fields of culture, art, tourism and sports amongst countries through art exchanges of young people, the Sino-Greece Session of the International Youth Friendly Art Exchange Competition will be held, under the auspices of the Consulate General of Greece in Shanghai. The main themes of the painting competition are: “Friendship between Greece and China”, “Children see Greece”, “Go to Greece with a Sketchpad”, “Greek mythology”, “Aegean scenery” and “Mediterranean food”. Participants will be divided in three groups: 3-6 years old, 6-9 years old, 9-16 years old. The deadline for the submission of paintings is April 20, 2021. For further information, please contact info@bwfer.com.
SRCIC Attends Education, Economic and Trade Cooperation Meeting between Shaanxi and Mogilev
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SRCIC Attends Education, Economic and Trade Cooperation Meeting between Shaanxi and Mogilev
7 Dec 2020
2 December 2020, the online exchange meeting concerning education and economic and trade cooperation was held between Shaanxi, China and Mogilev, Belarus. Speeches were delivered respectively by Yao Hongjuan, Member of the Shaanxi Provincial Party Committee and Director of the Provincial Foreign Affairs Office, Tang Yugang, Deputy Director of the Department of Commerce, Marinenko Pavel Leonidovich, Vice Chairman of the Executive Committee and Economic Committee of Mogilev, Ivanistov Aleksandr Nikolaevich, Director of the Scientific Research Department of the Belarusian Academy of Agricultural Sciences, Yartsev Andrey Viktorovich, Director of Free Economic Zone of Mogilev, and Luo Jun, Vice President of Northwest Agricultural and Forestry University. In addition, representatives of 12 enterprises in food industry, meat import and export, dairy products and other fields promoted their products at the meeting. Diane Bian, Secretary General of the SRCIC, was also invited to the online meeting. SG Bian introduced the major conferences and international activities held by the SRCIC since its establishment, and also elaborated how the SRCIC actively use its member network and cooperative platform to boost economic and trade cooperation, and cultural exchanges between China and Belarus. SG Bian said that the SRCIC is committed to mobilizing its member resources to strengthen the collaboration between the Sino-Belarusian business communities and enabling the enterprises of Shaanxi and Mogilev to participate in the Belt and Road construction, so as to share the development dividend of the B&R initiative. Finally, SG Bian gave an introduction to the Silk Road Urban Alliance (SRUA) initiated by SRCIC in 2018. She warmly welcomed Mogilev to join in the SRUA for the potential collaboration and win-win development.
RCEP set to unleash great trade potential
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RCEP set to unleash great trade potential
29 Nov 2021
Six member states from the Association of Southeast Asian Nations, Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam-along with four non-ASEAN countries, namely China, Japan, New Zealand and Australia-have formally submitted their Regional Comprehensive Economic Partnership agreement ratifications to ASEAN's secretariat, with the deal expected to come into force in these 10 countries at the start of next year. The RCEP reaches beyond the concept of "regional economic integration". Why is the RCEP considered as the free trade agreement with the highest potential in the world? What is the significance of its becoming a reality? After the agreement takes effect, the global economy will enter a new era of "Asian times" or "Asia-Pacific times". In the future, the Asia-Pacific region will remain the economic growth powerhouse of the world, and Asia still home to the world's largest scale of production, supply and consumption. The RCEP region will become the world's largest free trade bloc. The agreement covers 3.5 billion people, or 47.4 percent of the planet's population. The combined gross domestic product of the area now stands at $26 trillion, which accounts for 32.2 percent of the world's total, while its foreign trade takes up 29.1 percent of all international trade. The figures above include those for India. Although the South Asian country ended negotiations regarding the agreement in 2019, the RCEP always welcomes its participation. More importantly, the RCEP region is made up of diversified economies that have different levels of development, as well as different political and social systems. The RCEP, reached at a difficult time with challenges from COVID-19 and anti-globalization sentiment, is expected to drive a new round of economic globalization through promoting free trade. The implementation of the agreement will also accelerate moves by global industrial technology firms, capital and talent toward Japan, South Korea and ASEAN, as well as China. Members of the RCEP have different development levels, and China's huge market is very attractive to others. The agreement will also have great influence on regional economic development and industrial and supply chain layouts. On the one hand, it will accelerate the expansion and deepening of regional industrial and supply chains. On the other, the agreement will provide institutional guarantees for the stabilization of regional industrial and supply chains. FTAs among countries in the region mainly cover trade in goods. The RCEP extends into the areas of services trade, investment and alignment of domestic rules with the agreement, which will better conform to the trend of regional economic integration. Personally, I think the RCEP has reached beyond the concept of "regional economic integration". It is understandable that India withdrew from the RCEP during the final stage of negotiations, perhaps in fear of its impact on the domestic market. In a free-trade bloc, flow of goods is free, without tariff barriers, and if a country cannot produce a product by itself, joining an FTA will only make it rely more on imports. The RCEP welcomes India whenever it is ready, and I'm positive that once India sees the benefits of the RCEP taking effect, it will join in soon after. Every preferential trade agreement or arrangement has its own tariff reduction list and rules of origin, or the criteria needed to determine the national source of a product, and a product will have different levels of tariff reduction and comply to different rules of origin under different FTAs. With implementation of the RCEP, 90 percent of goods traded in the region will enjoy zero tariffs. China has promised to completely open up 86-90 percent of goods, and promises zero-tariff treatment makes up about 90 percent of all tariffed items for the 10 ASEAN member states, as well as Australia and New Zealand. Apart from Laos, Cambodia and Myanmar, other countries above-mentioned have promised similar or slightly higher levels of zero-tariff item treatment. It is worthy of notice that the RCEP and other FTAs in the region complement and promote each other. The RCEP has tariff reductions for products that others don't, and vice versa. The cumulative rules of origin, using accumulated regional value to determine the origin of a product in the region, is the most significant achievement of the RCEP in goods trade. Unlike bilateral rules of origin adopted by most FTAs, with the RCEP, when a product gets into country B from country A, its intermediates from the signatory members can accumulate to meet the values or production requirements to enjoy tariff reductions, so that it will be easier for products to enjoy zero tariffs. In addition, the RCEP members have achieved high-level rules for trade facilitation in terms of Customs procedures, inspection and quarantine, and technical standards. When those rules take effect, the agreement will significantly reduce trade costs within the region, increase competitiveness of regional products, and unleash demand for even more commerce, thus bring more business opportunities to enterprises and more choices and benefits to customers. Members of the RCEP include developed, developing and less-developed economies, which all focus on their own weaknesses and hope the agreement will be more in line with their own interests. During the negotiation period of the RCEP, some countries feared they may not be able to withstand tariff reductions implemented too quickly and broadly, and preferred to focus on domestic market protection. In addition, the industrial structure of various countries also differs, with distinctive characteristics. For instance, India has a relatively weak manufacturing capacity, but is strong in the services sector. Therefore, it hoped to maximize the level of opening-up in the services sector while minimizing the opening-up of other areas. South Korea and Japan wanted their agricultural sectors protected, while China wanted its services sector to be gradually opened up. There was of course some jockeying for related topics due to such different interests and demands. Countries engaging in the negotiations have different political and social systems, different levels of development, and different demands. The RCEP will also reshape the economic relations between China and Japan. The signing of the agreement signified the establishment of direct free-trade relations between the two for the first time. During the first three decades after China started reform and opening-up, Japan's investment in China was mainly of the "re-exporting "variety, that is, it invested in China, and then exported the products produced in China elsewhere. Then, as China's domestic market expanded, some Japanese enterprises started to focus on China's own market with their investments. According to statistics from Japan, 45 percent of Japanese enterprises invest in China to export products produced here, while 35 percent invest in China for the Chinese market, and 20 percent do both. Many Japanese friends told me they are eager to switch from re-exporting investment toward China market-focused investment, and with the RCEP, they can better press ahead with this strategy. Moreover, while the joining of the RCEP by both China and Japan will reshape their economic relations, their economic and trade cooperation will become even closer as China is expected to officially join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in the future. The author is vice-chairman of the Beijing-based China Center for International Economic Exchanges, and a former vice-minister of commerce. The views don't necessarily reflect those of China Daily. Source: China Daily
China-ASEAN financial cooperation to provide stronger support for bilateral real economy, expert
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China-ASEAN financial cooperation to provide stronger support for bilateral real economy, expert
26 Nov 2021
BEIJING, Nov.26 (Xinhua) -- With the establishment of China-ASEAN comprehensive strategic partnership and the expectable implementation of Regional Comprehensive Economic Partnership (RCEP) agreement, China and ASEAN countries are embracing significant opportunities for cooperation and finance plays an indispensable role in it, Fan Zuojun, professor and vice principal of Guangxi University, told Xinhua in an interview held in this week. When talking about the specific direction of China-ASEAN financial cooperation, Fan believes that modern financial technologies such as block chain, cloud computing and big data should be flexibly used to strengthen the construction of cross-border credit investigation platform system. According to Fan, the continuous development and innovation of financial technology provides great convenience to cross-border financial cooperation. Cross-border credit investigation platform construction can apply new financial technology to expand credit information sources, including the consumption behavior and transaction data of each economic subject, so as to provide accurate reference information for China and ASEAN financial institutions to carry out business. On the other hand, cross-border credit investigation platform construction can create a credit rating system suitable for the China-ASEAN region to better support enterprises' investment and financing and other businesses involving financial cooperation. Notably, Fan stressed the need to strengthen financial regulatory cooperation between China and ASEAN. Firstly, construction of bilateral financial infrastructure needs to be strengthened and differences in financial systems between countries shall be reduced. These require sound communication over respective policies between the two sides, reduction of policy restrictions on financial market access and business operation, and emphasis on common but different regulatory policies in the region. Secondly, a unified financial supervision organization within the region shall be established to strictly regulate the behavior of various financial market entities and provide strong institutional guarantee, according to Fan. Generally speaking, Fan believes that with more active economic and trade exchanges between China and ASEAN members, financial cooperation between China and ASEAN will make greater progress and will provide more support for real economy of each side. Source:Xinhua Silk Road
Interview: China plays vital role in promoting Asia-Europe cooperation: Singaporean scholar
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Interview: China plays vital role in promoting Asia-Europe cooperation: Singaporean scholar
26 Nov 2021
SINGAPORE, Nov. 25 (Xinhua) -- China has played a vital role in promoting Asia-Europe cooperation, said Yu Hong, a senior research fellow at the East Asian Institute of the National University of Singapore. Connectivity is an important area in cooperation between Asia and Europe, and the China-proposed Belt and Road Initiative (BRI) serves this purpose, Yu told Xinhua in an interview in the run-up to the 13th Asia-Europe Meeting (ASEM) Summit held via video conferencing from Thursday to Friday and hosted by Cambodia. The China-Europe freight train service under the BRI framework has been a special highlight, Yu said. Data from the China State Railway Group Co., Ltd. showed the China-Europe freight trains recorded 12,600 trips and transported more than 1.2 million TEUs of goods from January to October, exceeding the respective figures for the whole year of 2020. As the world's second-largest economy, China has been an important trading partner for most of the Asian and European countries, Yu said, adding that the China-Europe freight train service, by transporting face masks and other medical supplies, has assisted in the efforts to combat COVID-19 in Asia and Europe, and boosted the resilience of intercontinental supply chains and industrial chains. The freight train service not only increases the interconnectivity by land between Asia and Europe but also serves as an important link for their economic and trade cooperation, according to Yu. In Yu's eyes, Asia and Europe are both influential continents politically and economically, and are the world's important forces in promoting multilateralism and building a multi-polar world. The economic and trade ties between Asia and Europe are very strong and dynamic, Yu noted, and attributed the situation to the fact that they both have broad markets and are at different stages of economic development with highly complementary industrial structures. Yu said strengthening cooperation between Asia and Europe is particularly significant against the backdrop of the COVID-19 pandemic. Expanding two-way investment in increasing production capacity and broadening markets can help strengthen the resilience of regional and global supply chains and industrial chains, thus contributing to post-COVID-19 economic recovery in both continents, Yu said. In addition, Asia and Europe share interests in tackling climate challenges, especially in developing clean energy and reducing carbon dioxide emissions, Yu said, adding that the two sides can further tap the potential for cooperation in this field. Source: Xinhua
Xinhua Commentary: High-quality development of BRI good means to tackle turbulence
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Xinhua Commentary: High-quality development of BRI good means to tackle turbulence
26 Nov 2021
BEIJING, Nov. 25 (Xinhua) -- Promoting connectivity, openness and inclusiveness is the only way to cope with a world that has entered a period of turbulence. The Belt and Road Initiative (BRI) can play an important role in this. President Xi Jinping charted the course for continuing advancing high-quality development of the BRI at the just-concluded third high-level symposium on the initiative and put forward a series of key tasks that must be put in place. It demonstrates China's determination and confidence in expanding high-standard opening-up and jointly promoting high-quality development of the BRI. It also embodies China's role as a big country to promote the global economic recovery and build a community with a shared future for humanity. To promote the high-quality construction of the BRI is to let more countries and people gain from it. To achieve that, stronger political mutual trust, more cooperative mechanisms and a better connectivity network linking land, sea, air and cyberspace are needed. Meanwhile, efforts should be made to increase trade with neighboring countries, expand imports of high-quality products, promote international industrial-capacity cooperation and enhance financial connectivity and cultural exchanges. In addition, cooperation in health, green development, digital industry and innovation should be encouraged, as China will continue to engage in international cooperation of COVID-19 response, support developing countries in green and low-carbon energy development, advance the Silk Road E-Commerce initiative, and nurture an open, fair, equitable and nondiscriminatory environment for science and technology progress. As China has entered a new stage of development, implemented the new development philosophy, and built a new development pattern, it will provide stronger power, larger space and a better path for the joint construction of the BRI. It should be realized that the new development pattern that China builds is by no means a closed domestic circulation but an open and mutually-beneficial domestic and international dual circulation. Under the new development pattern, China's market potential will be fully stimulated to create more demand for countries around the world. China will further open up its door to the outside world to share development opportunities with other countries. China will continue to deepen international cooperation and achieve mutual benefit and win-win results with other countries. The BRI has become a popular international public product and cooperation platform. Projects to improve people's livelihood could be an effective means of increasing people's sense of fulfillment in countries along the Belt and Road. The so-called criticism of "debt trap" against BRI is totally unfounded. Multilateral financial institutions and commercial creditors hold more than three-quarters of African countries' total debts. So far, no BRI partner country has recognized the so-called "debt trap." According to the World Bank, by 2030, the BRI can help 7.6 million people get rid of extreme poverty and 32 million people get rid of moderate poverty. At present, economic globalization has shown new resilience, and the call for safeguarding multilateralism and strengthening communication and cooperation has become stronger. Experience in combating the pandemic has shown to people of all countries that the future of all countries is closely linked. Multilateralism should be firmly upheld. The BRI is a good means to achieve it. Source: Xinhua
​China-Singapore financial summit held to boost connectivity between western China, ASEAN countries
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​China-Singapore financial summit held to boost connectivity between western China, ASEAN countries
25 Nov 2021
BEIJING, Nov. 24 (Xinhua) -- The China-Singapore(Chongqing) Connectivity InitiativeFinancial Summit2021 kicked off Tuesday online and offline simultaneously in southwest China's Chongqing Municipality and Singapore. With the theme of "Deepening China-ASEAN Financial Cooperation, Creating a New Paradigm of Interconnectivity", the summit aims at boosting connectivity between western China and ASEAN countries by enhancing the financial cooperation between Chongqing and Singapore. A total of 85 projects were signed at the summit, with a contract value of 101.1 billion yuan. Among these projects, 31 involve financial institutions and entities with a contract value of 17.3 billion yuan. Besides, ten are key China-Singapore financial cooperation projects, with a contract value of 4.2 billion yuan and expected to play a leading role in financial technology, green finance, cross-borderinvestmentand cross-border service facilitation. ICHAM, a Singaporean company, will set up a Qualified Domestic Limited Partner (QDLP) private equity fund in the Liangjiang New Area of Chongqing. It will become the first Singaporean company to be granted the QDLP pilot qualification in China. The China-Singapore (Chongqing) Connectivity Initiative Financial Summit has been held successfully for three times since 2018, becoming a key platform for financial exchanges and cooperation between western China and ASEAN countries, a crucial window for the opening-up of the Chengdu-Chongqing Economic Circleand an important business card for Chongqing's financial opening-up and development. The China-Singapore (Chongqing) Connectivity Initiative, also known as the China-Singapore (Chongqing) Demonstration Project on Strategic Connectivity, is an inter-governmental cooperation project between China and Singapore officially launched on November 7, 2015, and mainly covers four key cooperation areas of financial services, aviation industry, transportation and logistics, and information communication. Source: Xinhua Silk Road
Belt and Road Initiative transforming Kenya's development space: report
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Belt and Road Initiative transforming Kenya's development space: report
25 Nov 2021
NAIROBI, Nov. 24 (Xinhua) -- The Belt and Road Initiative (BRI), proposed by China eight years ago, is transforming Kenya's development space in a profound way, said a report released Wednesday. According to the report by Africa Policy Institute, a pan-African think tank, since the BRI was proposed in 2013, China has supported modern infrastructure projects such as railways, roads, ports, dams, industries, digital connectivity which has injected vitality into Kenya's growth. "In less than a decade, Kenya has a brand new 670-kilometer modern Standard Gauge Railway (SGR) connecting the port of Mombasa and the inland (dry) port of Naivasha," said the report, titled "shared prosperity: tracking the belt and road initiative in Kenya, 2018-2021." The report examined the real impact of the BRI through specific projects within the five connectivity themes of infrastructure development, policy consultation, trade promotion, financial cooperation and people-to-people exchanges in Kenya. The BRI has so far supported projects such as the construction of roads, railways and ports that cut across and connect a total of 172 countries. According to the findings, Kenya's Chinese-built SGR has Africa's second largest underground tunnel which is a tourist attraction in its own right. The report indicated that as a result of the BRI, Kenya has many new industries employing thousands of people and boosting the economy. The report noted that Nairobi's skyline is changing, with some of Africa's tallest buildings emerging while thousands of students are benefiting from Chinese scholarships and training opportunities as part of people-to-people connections. Chinese Ambassador to Kenya Zhou Pingjian said that China and Kenya are good friends, good partners and good brothers. "Our fruitful and wide-ranging practical cooperation stands out in China-Africa cooperation," said Ambassador Zhou, noting China will work hand in hand with Kenya to take forward Belt and Road cooperation and implement the outcomes of the upcoming Eighth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) to deliver greater benefits to the people of both countries. The diplomat also said that openness brings progress, while self-imposed isolation leaves one behind. "Going forward, China will only become more and more open and continue to pursue the Belt and Road Initiative as a priority," said Zhou. He observed that as China embarks on a new historic journey, it stands ready to deepen the China-Africa partnership and promote sustainable development in order to build a China-Africa community with a shared future in the new era. Zhou said that for the BRI connectivity is vital, and the bedrock of connectivity is infrastructure. "It is the lack of infrastructure that has held up the development of many countries. Small wonder infrastructure development has been a top priority for China-Kenya Belt and Road cooperation in recent years and remarkable progress has been made in this regard through concerted efforts," he added. Kirimi Kaberia, the principal secretary for the Ministry of Industrialization, Trade and Enterprise Development, said BRI "has also improved Africa's continental interconnectivity, breaking borders and catalyzing intra-continental trade." Through BRI's formulation and implementation, in less than ten years, Kenya now has a new deep seaport in the coastal town of Lamu, the SGR which has transformed the delivery of goods, as well as thousands of kilometers of roads that have transformed logistics in the region, said Kaberia. "These initiatives have created new centers of industrialization and development," Kaberia added. Source: Xinhua
INOV Contacto International Internships
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INOV Contacto International Internships
19 Jul 2021
Dear SRCIC members, We would like to inform you that "INOV Contacto" is now accepting applications for its International Internship Programme. If you want to strengthen your international team with a qualified, paid intern (whose profile is matched with the job description) during six months, you can take advantage of this programme that begins in January, 2022. "INOV Contacto" is an initiative promoted by the Portuguese Trade & Investment Agency since 1997, with more than 5,800 internships across 1,200 companies worldwide. To find out more and/or apply, click HERE.
SRCIC members attend the CPC and World Political Parties Summit
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SRCIC members attend the CPC and World Political Parties Summit
9 Jul 2021
On July 6, 2021, the Communist Party of China (CPC) and World Political Parties Summit was held via video link. Xi Jinping, general secretary of the CPC Central Committee and Chinese president, attended the summit in Beijing and delivered a keynote speech. In his speech titled Strengthening Cooperation Among Political Parties to Jointly Pursue the People's Wellbeing, Xi stressed that political parties, as an important force behind human progress, need to set the right course forward and shoulder their historic responsibility to ensure the people's well-being and pursue human progress. He also pointed out that the CPC stands ready to work with world political parties to be builders of world peace, advocates for global development, and guardians of the international order. Xi Jinping, general secretary of the CPC Central Committee and Chinese president, delivers a keynote speech (Source: Xinhua News Agency) The cloud summit gathered leaders of more than 500 political parties and organizations from over 160 countries. Political parties from 100-plus countries set up nearly 200 venues in their home countries to organize their representatives to attend the summit. SRCIC members including the Philippine Silk Road International Chamber of Commerce (PSRICC), Chinese Southeast European Business Association (CSEBA), Arab-Chinese Cooperation and Development Association, Office of Georgian Chamber of Commerce and Industry in China, Silk Road Association Alliance members including Latin American Centre of Political and Economics Studies of China (CLEPEC), Malaysian Chamber of Commerce and Industry in China, and SRCIC partner Russian Federation Chamber of Commerce and Industry in Eastern Asia (Beijing) attended the summit. Francis Chua, Vice Chairman of SRCIC and Chairman of the PSRICC pointed out that this year marks the centenary the CPC. For 100 years, the mission of the CPC has been to bring prosperity to the Chinese people. Through decades of arduous struggle, the CPC has achieved one victory after another, profoundly changing the history and destiny of China. The PSRICC is willing to promote the cooperation between the Philippine business community and China. “When we communicate with countries around the world, we will tell them that China is a country that values peace, a country that cares about its people and its neighbors, a country that keeps its word and walks by its word. We will tell the world about China's efforts in promoting global peace and development. That's what we at the PSRICC are doing, and we want to continue to tell good stories about China,”Chua said. The image above is President Xi Jinping delivering a keynote speech. The image below, at left, is President Duterte's video address to the conference. On the right is the scene at PSRICC. Mario Rendulić, president of CSEBA said they will convey President Xi’s ideas to the Croatian people in a suitable way. He hoped that the Croatian leaders will have a deeper understanding of the CPC and draw on it to accelerate Croatia's development in all aspects. He then reiterated his willingness to further promote the Belt and Road Initiative in Croatia in the hope of building stronger ties between the two countries. President of CSEBA Mario Rendulić (R) and President of CSEBA in Asian-Pacific Li Zhenwei (L) attending the online meeting President of Arab-Chinese Cooperation and Development Association Kassem Tofailli(the first row from left) attending the online meeting Chief Representative of Russian Federation Chamber of Commerce and Industry in Eastern Asia(Beijing) Ivan A.Izotov attending the meeting Bekar, representative of Georgian Chamber of Commerce and Industry in China, congratulated on the success of the CPC and World Political Parties Summit. He expressed heartfelt congratulations on CPC's centenary and wished China continuous progress and development. He said that from the perspective of history, the period of 100 years is very short. But within such a short time frame, Chinese people managed to make unprecedented achievements under the leadership of the CPC.China is an important strategic partner of Georgia, and the two countries enjoyatime-honoredfriendship and close cooperation, which he hoped to continue to deepen and develop in the years to come. Source: People's Daily and SRCIC members
Diversity Defeats Singularity: Daryl Guppy
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Diversity Defeats Singularity: Daryl Guppy
9 Jul 2021
The axis of the world is inexorably tilting, although some are reluctant to acknowledge this. Just how this tilt will rebalance is the key question of our time. Two potential answers are encapsulated in the Group 7 meeting and the World Political Parties Summit of 160 countries and over 500 leaders of parties and political organizations. The sheer imbalance of numbers attending these respective meetings is proof enough alone of the momentum tilting the axis. The pressure for change in the structure of international trade relations is building and it is enabled by the increased connectivity made possible by advances in 5G and AI. The current “global order” labelled by a few countries is an extension of the outdated imperial order and excludes most countries from any meaningful participation in creating the rules that govern international trade. The time has come for these rules to be based on internationally recognised norms rather than rules imposed by an elite few. Block-chain solutions help eliminate inefficiencies in trade settlement but they require common and cooperative standards. These cannot be achieved if the process is dominated by the interests of just a few countries. The World Political Parties Summit held on July 6 via video link considered alternatives to the narrow-based hegemony favoured by the G7. It united the conversation around the concept of Governance delivering “the common values of humanity” by fostering broad-minded tolerance in the understanding of values of different civilizations. The Communist Party of China (CPC) and World Political Parties Summit is held via video link in Beijing on July 6, 2021. (Photo/Xinhua) The Summit recognised that no single political system provided a universal solution to the common question of how to improve living standards for their citizens. This is the key difference in approach, with the Summit embracing a diversity of solutions free from ideological blinkers. Global business organisations like the Silk Road Chamber of International Commerce have long recognised that there is a diversity of solutions to bringing prosperity to citizens. The Summit confirmed this approach must also extend to political parties and Government. In contrast to the G7 meeting, the summit recognised that “There doesn’t exist a fixed model for the path to modernization” so each country will select the path that serves it well. Central to progress is the freedom to develop in ways that are most appropriate for the economic and social stage of development. This is why the summit also rejected the idea that any country had the right to try to limit the prosperity of others by denying access to technology, innovation and financing. This ‘developmental decoupling’ works against the need to build a community with a shared future for mankind. In contrast to the G7 meeting, the World Political Parties Summit bought a breath of fresh air and new cooperative thinking. The summit showed the axis of the world is tilting towards giving more voice to choose and diversity and away from domination by a few. Source: cnfocus.com
Forthcoming book: China for SMEs Essential Elements of Success
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Forthcoming book: China for SMEs Essential Elements of Success
12 Apr 2021
Mr. Daryl Guppy, SRCIC member and Chairman of Australia China Business Council (ACBC), will release his new book China for SMEs Essential Elements of Success. He is also the founder and CEO of Guppytraders.com, an international financial market education and training organisation with offices in Darwin, Singapore and Beijing. As China grows in importance to companies around the world, it is vital for companies to understand the Chinese business culture. This book is an essential read for anyone serious about successful business in modern China.Mr. Daryl Guppy outlines the crucial ingredients for success, culled from more than 20 years of experience in China business, official meetings and government advisory. Reviews "If you want to do business in China, this book is an absolute must. Nobody I know understands China and the Chinese people as well as Daryl Guppy. His knowledge and insights are built on his decades of business experience, his wide networks and friendships. I strongly recommend this book for anyone currently doing business, studying business or wanting to do business with China." John Brumby Former Premier of Victoria, Australia and National President of the Australia China Business Council 2014–2019 "Guppy's great skill is to eschew the usual cliches and urban myths about doing business in China. Instead, he emphasises the background work required to know your customer, know your market, know the diversity of China, even within a single city, know yourself, and know your offer, be it in products or services. Guppy's analysis will help many to get to success for years to come." Geoff Raby Former Australian Ambassador to China Independent ASX company director, Chairman, Geoff Raby and Associates "Daryl Guppy's book is a rich repository of behavioural observations, nuances and understandings which are fundamental to building the all-important relationships and trust that drive successful engagement with the Chinese. Anyone looking to engage successfully with the Chinese would benefit greatly from exploring the insights which shape the 'deep seated' perceptions of the Chinese people." Hon. Andrew Robb AO Former Minister for Trade and Investment and architect of the China Australia Free Trade Agreement For the further information , please download from https://worldscientific.com/worldscibooks/10.1142/12167
COVID-19 passport success relies on coordination: Daryl Guppy
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COVID-19 passport success relies on coordination: Daryl Guppy
15 Mar 2021
An International Certificate of Vaccination or Prophylax is shown in front of the Berlaymont, the EU Commission headquarter in Brussels, Belgium, March 13, 2021. /Getty 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 views and not necessarily those of CGTN. Responses to COVID-19 in 2020 exposed significant cracks in the implementation of public health policy. Unfortunately that same dysfunction threatens the resumption of international travel and commerce because of lack of agreement about the form of a COVID-19 passport. In China, the public health response to COVID-19 was disciplined, coordinated and effective; in the United States, the response was disjointed with inconsistent standards applied by different states and by the political leadership; in the United Kingdom, the response was an abject failure of planning and implementation. Some countries – like Australia and New Zealand – effectively kept COVID-19 contained and managed by the simple expedient of closing their island borders. Celebration of the low infection rate in Australia disguised the failure to develop any nationally recognized track and trace system, with each State setting their own standards for quarantine, tracking and border closures. People have every reason to expect that the management of the post-COVID-19 recovery will draw on the lessons learned during the COVID-19 crisis. Unfortunately this does not appear to be the case as some countries are developing their own COVID-19 passport solutions without reference to others. Some other countries are simply not actively considering the issue at this time. At one level, developing a secure COVID-19 passport is simply a matter of applying the appropriate technology. It should be a straightforward solution using blockchain security features. The inability to develop COVID-19 track and trace systems in some countries suggests the problem of an acceptable COVID-19 passport may be more difficult to resolve. The passport must rest of unquestionable proof of vaccination. Currently, several groups are developing COVID-19 passports. China has just launched its digital version of a health certificate for international travelers. It uses an encrypted QR code based on blockchain security. Singapore has a government-led process. GovTech (Singapore) developed digital COVID-19 test credentials for travellers pre-departure validation. These are fully compliant with Singapore's SafeTravel program. Considerable work with blockchain based passports has been undertaken by the International Air Transport Association and the EU. They are well advanced in developing and adopting a standard. This initiative is led by business; so the challenge is to persuade governments to recognize the solutions. Elsewhere business organizations are taking the lead. The Australia China Business Council is urging the Australian government to support the development of a COVID-19 vaccine passport using blockchain technology to help open international travel. President David Olsson said "We see an opportunity for the Australian government to work with China and other nations in our region to develop the recommended standards for security, authentication, privacy and data exchange." Michelle Reeves and Marc Reeves and their family's passports to Australia seen on the counterspace, July 27, 2020. /Getty These varied approaches means questions remain around the compatibility and cross border acceptance of these COVID-19 passports. Mutual recognition of these different approaches is the first barrier to overcome before international travel can truly resume. However, immunization in itself poses a problem. People who have been vaccinated will show lingering historical evidence of a low level COVID-19 infection. These viral remnants may be picked up by the nucleic and serum IgM antibody tests regimes and deliver a COVID-19 positive result. This may prevent a green tick on the COVID-19 passport. The suggested solution is for proof of vaccination to be given absolute priority over any lingering COVID-19 positive result. At a deeper level, and more alarmingly, are the problems associated with the architectural foundations of a COVID-19 passport. It's an issue that is concerning many business organizations because it goes to the heart of the efficacy of a COVID-19 passport. This issue rests on the recognition of a range of vaccines that will provide the platform for a major boost for international tourism and for a resumption of international business and student travel. The COVID-19 passport is not genuinely useful unless it includes and recognizes "approved" vaccination sources which will enable quarantine free international travel. The architecture of the COVID-19 passport is the key issue because it rests on the mutual recognition of vaccines as suitable for permitting quarantine free travel. A COVID-19 passport requires much more than a green tick. Business groups have an important role to play in ensuring that the operational details of a COVID-19 passport, including mutual vaccine recognition, really make international business and tourist travel accessible and possible. Source: CGTN
Main Fairs and Exhibitions in Cuba 2021
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Main Fairs and Exhibitions in Cuba 2021
15 Mar 2021
【About the Chamber of Commerce of the Republic of Cuba】 The Chamber of Commerce of the Republic of Cuba was created on February 1, 1963. The Chamber was seen as an effective instrument to contribute to the search for new markets, support the great reorganization of foreign trade, and to enable business relationships with other countries. 【Fairs & Exhibitions】 Nowadays, fairs and exhibitions have become an essential component of Cuba’s commercial and business scene. Below are some of the fairs and exhibitions to be held in Cuba in 2021. February International Book Fair March International Agricultural Fair March INFORMATICA 2021 - 18th International IT Convention & Fair April International Hotel Trade Fair May International Tourism Fair May International Fair Renewable energy June Cubaindustria 2021 June EXPOMATANZAS June EXPOCARIBE September International Fair Transport & Logistic November Havana International Trade Fair, FIHAV December International Crafts Fair 【Trade & Investment】 Cuba, as an important gateway to South America, enjoys political stability and crucial strategic position. The country is rich in agriculture, fishery and tourism resources, bringing great potential for development. On the website of Procuba www.procuba.cu you can find the portfolio of investment opportunities and the Cuban exportable offer. 【Mariel Special Development Zone (MSDZ)】 MSDZ is situated 45km west of Havana and has an area of 465.4km². Since its establishment more than seven years ago, MSDZ has become an important platform for Cuba to attract foreign investment. Activities and sectors prioritized in the MSDZ: Biotechnology, development and production of drugs Containers and Packaging Industry Renewable energy Agriculture Food industry Industry Telecommunications and Informatics Tourism and Real Estate Investments in Infrastructure For more information, please visit www.zedmariel.com/en or download Business with Cuba.
Chairman's Message

Greetings from the Silk Road Chamber of International Commerce! On behalf of SRCIC, I would like to welcome you to our website!

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