SRCIC Chairman Lu Jianzhong Elected President of the China Cultural Chamber of Commerce for the Private Sector
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SRCIC Chairman Lu Jianzhong Elected President of the China Cultural Chamber of Commerce for the Private Sector
18 Nov 2019
On November 16 of 2019, the 2nd General Assembly of the China Cultural Chamber of Commerce for the Private Sector (CCCCPS) was successfully held in Beijing. Mr. Lu Jianzhong, Chairman of the Silk Road Chamber of International Commerce (SRCIC), was elected as the new President of CCCCPS. Mr. Lu is also Deputy to the National People's Congress and Vice President of the Chinese Association for International Understanding. More than 200 guests were present at the meeting, including Wang Xiaofeng, Party Member of the Ministry of Culture and Tourism of China, Li Zhaoqian, Vice Chairman of the All-China Federation of Industry and Commerce (ACFIC), Feng Jicai, well-known writer, painter, and honorary council member of the China Federation of Literary and Art Circles, Chi Fulin, President of the China Institute for Reform and Development, Zhang Wei, former Vice Chairman of the China Council for the Promotion of International Trade. Meanwhile, representatives from the Silk Road Development Fund, New World Development Group and other enterprises and media also participated in the event. Lu Jianzhong, as new President of CCCCPS, delivered an inauguration speech. He said that under the leadership of ACFIC, CCCCPS will strengthen its interaction with government, market and international resources. Through coordinating all its members, CCCCPS with its platform and resources, will give full play to the role of private sector in boosting growth, promoting innovation, increasing employment and improving people's livelihood. CCCCPS will make further contribution to development of China's cultural industry. To better serve the chambers of commerce for the long-term development, and to boost the prosperity of the cultural industry, the creation of “Advisory Panel of CCCCPS” was announced. Mr. Feng Jicai, Professor Chi Fulin and Mr. Fan Zhou were appointed as the first cohort of advisors. They also delivered keynote speeches at the meeting. To better serve the member enterprises and to provide them with financial services, strategic cooperation agreements between CCCCPS and China Minsheng Bank (CMBC), GF Securities and Silk Road Development Fund were signed. Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Ms. Chen Qiong, DeputyParty Secretary and Vice President of China Minsheng Bank (CMBC) Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Mr. Hanjun, Deputy General Manager of GF Finance Leasing (Guangzhou) and Senior Engineer Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Mr. Lu Huicai, Deputy General Manager of Business Development of New World Group Profile of CCCCPS China Cultural Chamber of Commerce for the Private Sector (CCCCPS) is the first Chinese chamber of commerce providing specialized services for the development of private cultural industry organizations, bringing together the central and local governments, private enterprises and investment institutions. CCCCPS aims to create a state-level strategic cooperation platform, focusing on the planning, allocation of resources and information sharing of the cultural industry. The chamber was established with the guidance of All-China Federation of Industry and Commerce, obtained approval from the Publicity Department of the Communist Party of China and Ministry of Culture and State Administration of Press, Publication, Radio, Film and Television, and passed the reviewing of the State Council. The chamber was officially registered at the Ministry of Civil Affairs on May 17, 2013. Souce: Tang West Market Official Wechat Account
China signs 197 B&R cooperation documents with 137 countries, 30 int'l organizations
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China signs 197 B&R cooperation documents with 137 countries, 30 int'l organizations
18 Nov 2019
China has signed 197 Belt and Road (B&R) cooperation documents with 137 countries and 30 international organizations by the end of October, the country's top economic planner said Friday. Apart from developing and developed economies, a number of companies and financial institutions from developed countries have collaborated with China to expand the third-party market as well, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told a news conference. The construction of the China-Laos railway, China-Thailand railway, Jakarta-Bandung High-Speed Railway and Hungary-Serbia railway are making solid headway while projects including the Gwadar Port, Hambantota Port, Piraeus Port and Khalifa Port have gone smoothly, the NDRC said. Meanwhile, the building of the China-Belarus industrial park, China-UAE Industrial Capacity Cooperation Demonstration Zone and China-Egypt Suez Economic and Trade Cooperation Zone is also forging ahead. From January to September, China's trade with B&R countries totaled about 950 billion U.S. dollars, and its non-financial direct investment in these countries topped 10 billion dollars, Meng said. She noted that China has made bilateral currency swap arrangements with 20 B&R countries and established RMB clearing arrangements with seven countries. In addition, the country has also made achievements with B&R countries in other sectors including technology exchange, education cooperation, culture and tourism, green development and foreign aid. Source: Xinhua News Agency
China's outbound investment in B&R countries totaled 11.46 billion U.S. dollars in first 10 months
China's outbound investment in B&R countries totaled 11.46 billion U.S. dollars in first 10 months
15 Nov 2019
China's non-financial outbound direct investment (ODI) posted steady growth in the first 10 months of the year, data showed Thursday. Non-financial ODI in 164 countries and regions amounted to 621.78 billion yuan (90.46 billion U.S. dollars) in the period, up 5.9 percent year on year, according to the Ministry of Commerce. The pace accelerated from the 3.8-percent growth registered in the first three quarters. In October alone, China's ODI soared 28 percent year on year to 66.95 billion yuan. Chinese companies increased investment in countries participating in the Belt and Road Initiative during the first 10 months, adding a total of 11.46 billion U.S. dollars of new investment in 56 countries, accounting for 12.7 percent of the total ODI. The structure of ODI continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, wholesale and retail, according to the ministry. No new ODI projects were reported in the sectors of real estate, sports and entertainment, the ministry said. Big projects took the lion's share of the value of new deals. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 587, up 14 from the same period a year earlier. The value of infrastructure projects reached 130.4 billion dollars, accounting for 73.8 percent of the newly signed contracts. Major overseas projects created employment for locals. By the end of last month, Chinese companies had provided 830,000 jobs for local people, data also showed. Source: Xinhua News Agency
Xi'an, Hong Kong to promote cooperation
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Xi'an, Hong Kong to promote cooperation
14 Nov 2019
InvestHK holds an investment promotion symposium in Xi'an on Nov 12. (chinadaily.com.cn) InvestHK, Hong Kong Special Administrative Region government's direct investment promotion agency, held an investment promotion symposium in Xi'an, capital of Shaanxi province, on Nov 12. The symposium aimed at introducing Hong Kong's business environment and tax advantages to Xi'an enterprises, encouraging them to expand their overseas business in Hong Kong. Vincent Tang, associate director-general of InvestHK, said that Xi'an enterprises can utilize the platform of the Hong Kong International Finance Centre, as well as professional services to conduct business development and financing. In the future, the two sides will further strengthen cooperation and take the opportunities under the Belt and Road Initiative (BRI), he added. Tang Yugang, deputy director of Shaanxi Provincial Department, said that a growing number of Xi'an enterprises will explore the international market, making use of the unique advantages of Hong Kong. In recent years, with the in-depth implementation of the BRI, Shaanxi and Hong Kong have become increasingly close in economic and trade cooperation. Hong Kong has been the first source of overseas investment in Shaanxi for many years and is also an important area for Shaanxi's import and export trade. As of September 2019, Shaanxi has established 71 overseas enterprises in Hong Kong, with a cumulative actual investment of $2.59 billion, accounting for 48 percent of the province's total actual external investment. Source:en.xa.gov.cn
China-Greece BRI cooperation serves as model for EU countries
China-Greece BRI cooperation serves as model for EU countries
13 Nov 2019
ATHENS, Nov. 10 (Xinhua) -- China-Greece collaboration under the Belt and Road Initiative (BRI) proposed by Chinese President Xi Jinping six years ago is a model for mutually beneficial cooperation between China and the European Union (EU) countries, officials, scholars and businessmen have said. The attendees at a conference on bilateral relations and the BRI organized at Aikaterini Laskaridis Foundation in Piraeus Port at the weekend praised China-Greece cooperation so far in infrastructure, shipping, finance, trade, tourism, energy, education, culture and other fields. "The BRI is a major historic opportunity for common development. China-Greece teaming in the BRI context is a model for EU countries conducting mutually beneficial cooperation," said Xie Fuzhan, president of the Chinese Academy of Social Sciences. Greece is among the first EU countries to sign an intergovernmental cooperation document with China to jointly advance BRI cooperation. In April this year, Greece joined the cooperation mechanism of China and Central and Eastern European Countries as a full member, creating new opportunities for the development of the mechanism as well as for China-EU relations and China-EU connectivity. The successful regional cooperation has been giving impetus to the prospects of the BRI in Europe, participants at the conference said. Through Chinese investment, Greece's Piraeus Port, a flagship project in bilateral BRI collaboration, has been transformed into one of the leading container ports in the Mediterranean. It becomes a key transport corridor linking the port to central Europe. The turnover of the port amounted to 70.6 million euros (around 77.8 million U.S. dollars) in the first half of 2019, up 11.2 percent year-on-year. "Piraeus Port is one of the first major projects ... BRI is a work in progress. More must be done, but the results are measurable and are quite positive," Thanos Dokos, deputy national security advisor, told the conference, underlining Greece's willingness to further strengthen cooperation with China. Greece can be a complementary bridge between the EU and China, the Greek official said, stressing the need to build confidence and reassure that the final outcome will be a win-win situation for all. There is so much that can be achieved in the future, starting from shipping and tourism to culture, Dokos talked about the prospects of China-Greece cooperation under the BRI. "Today with the deepening of globalization, the BRI, rooted in the spirit of the ancient Silk Road, is giving impetus for cooperation between the two countries of different scales, different systems and different cultures," said Stella Kostopoulou, associate professor at School of Economics at the Aristotle University of Thessaloniki. The potential to see more Chinese tourists to Greece in coming years and more understanding and cooperation via people-to-people exchanges, is most promising, said Kostopoulou, who is also president of the European Interdisciplinary Silk Road Tourism Center. "For China, Greece, a member of the EU, has a strategic position as a gateway to Europe and the broader region and a transport hub on the Maritime Silk Road. Therefore, Greece can now acclaim also the role of the Chinese tourist hub, the tourist gateway to the rest of Europe," Kostopoulou added. In an article published on Greek newspaper Kathimerini (The Daily), former Greek Prime Minister George Papandreou, also referred to bilateral cooperation under the BRI and the new horizons of opening up. The major challenges of the era of globalization demand international cooperation, he noted. "Collaboration in the BRI context has great prospects," the former prime minister said, saying that "China COSCO Shipping's investment in Piraeus Port has been recorded as one of the most successful examples of this initiative." Source: Xinhua
London offshore RMB daily trading volume hits fresh record: report
London offshore RMB daily trading volume hits fresh record: report
12 Nov 2019
Record amounts of Chinese Renminbi (RMB) are now being traded daily in London, according to the 5th edition of the London RMB Business Quarterly published Monday. The report reveals that, in the second quarter of 2019, an average of 85 billion British pounds (109 billion U.S. dollars) worth of RMB were traded on a daily basis in London, up 8.8 percent quarter-on-quarter, and 22.9 percent year-on-year. Between June and August, the average daily clearing volume by the UK designated RMB clearing bank -- China Construction Bank London Branch -- hit 43.97 billion RMB, up 18.4 percent from the previous report. The report also covers RMB bonds as eligible collateral accepted by the UK market, which is an important policy outcome of the 10th UK-China Economic and Financial Dialogue (EFD) held in June. "This development may help relieve the shortage of high-quality liquid assets (HQLA) in the UK market, strengthen the status of London as an offshore RMB hub, and facilitate the opening up of China's bond market as well as the internationalisation of the RMB," the report pointed out. "It's no secret that the UK has long been a world leader in foreign exchange ... Naturally, we've also grown to become the leading hub for RMB trading, with levels of the Chinese currency going through London far outstripping that of any other financial centre. I look forward to seeing this trend continue long into the future," said Catherine McGuinness, policy chair at the City of London Corporation. The London RMB Business Quarterly was launched by the City of London Corporation and the People's Bank of China Representative Office for Europe in September 2018. Source: Xinhua News Agency
SRCIC Chairman Lu Jianzhong Elected President of the China Cultural Chamber of Commerce for the Private Sector
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SRCIC Chairman Lu Jianzhong Elected President of the China Cultural Chamber of Commerce for the Private Sector
18 Nov 2019
On November 16 of 2019, the 2nd General Assembly of the China Cultural Chamber of Commerce for the Private Sector (CCCCPS) was successfully held in Beijing. Mr. Lu Jianzhong, Chairman of the Silk Road Chamber of International Commerce (SRCIC), was elected as the new President of CCCCPS. Mr. Lu is also Deputy to the National People's Congress and Vice President of the Chinese Association for International Understanding. More than 200 guests were present at the meeting, including Wang Xiaofeng, Party Member of the Ministry of Culture and Tourism of China, Li Zhaoqian, Vice Chairman of the All-China Federation of Industry and Commerce (ACFIC), Feng Jicai, well-known writer, painter, and honorary council member of the China Federation of Literary and Art Circles, Chi Fulin, President of the China Institute for Reform and Development, Zhang Wei, former Vice Chairman of the China Council for the Promotion of International Trade. Meanwhile, representatives from the Silk Road Development Fund, New World Development Group and other enterprises and media also participated in the event. Lu Jianzhong, as new President of CCCCPS, delivered an inauguration speech. He said that under the leadership of ACFIC, CCCCPS will strengthen its interaction with government, market and international resources. Through coordinating all its members, CCCCPS with its platform and resources, will give full play to the role of private sector in boosting growth, promoting innovation, increasing employment and improving people's livelihood. CCCCPS will make further contribution to development of China's cultural industry. To better serve the chambers of commerce for the long-term development, and to boost the prosperity of the cultural industry, the creation of “Advisory Panel of CCCCPS” was announced. Mr. Feng Jicai, Professor Chi Fulin and Mr. Fan Zhou were appointed as the first cohort of advisors. They also delivered keynote speeches at the meeting. To better serve the member enterprises and to provide them with financial services, strategic cooperation agreements between CCCCPS and China Minsheng Bank (CMBC), GF Securities and Silk Road Development Fund were signed. Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Ms. Chen Qiong, DeputyParty Secretary and Vice President of China Minsheng Bank (CMBC) Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Mr. Hanjun, Deputy General Manager of GF Finance Leasing (Guangzhou) and Senior Engineer Mr. Lu Jianzhong, Chairman of CCCCPS signs the agreement with Mr. Lu Huicai, Deputy General Manager of Business Development of New World Group Profile of CCCCPS China Cultural Chamber of Commerce for the Private Sector (CCCCPS) is the first Chinese chamber of commerce providing specialized services for the development of private cultural industry organizations, bringing together the central and local governments, private enterprises and investment institutions. CCCCPS aims to create a state-level strategic cooperation platform, focusing on the planning, allocation of resources and information sharing of the cultural industry. The chamber was established with the guidance of All-China Federation of Industry and Commerce, obtained approval from the Publicity Department of the Communist Party of China and Ministry of Culture and State Administration of Press, Publication, Radio, Film and Television, and passed the reviewing of the State Council. The chamber was officially registered at the Ministry of Civil Affairs on May 17, 2013. Souce: Tang West Market Official Wechat Account
Former President of the Republic of Croatia Stjepan Mesić invited to the 2nd CIIE
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Former President of the Republic of Croatia Stjepan Mesić invited to the 2nd CIIE
7 Nov 2019
Chinese President Xi Jinping attends the opening ceremony of the 2nd CIIE and delivers a keynote speech On November 5, 2019, the 2nd China International Import Expo (referred to as "the 2nd CIIE") opened at the National Convention and Exhibition Center in Shanghai.Chinese President Xi Jinping attended the Expo and delivered a keynote speech entitled "Openness and Cooperation for a Shared Future", stressing that all countries should adopt a more open mind and measures to jointly build an open world economy through cooperation, innovation and for mutual benefit.It is reiterated that China will open its door only wider to the world. China insists on promoting reform, development and innovation through opening up, and continues to push forward a higher level of opening up to the outside world. Group photo of President Xi Jinping, Stjepan Mesić (front row, sixth from right) and media representatives from foreign think tanks attending the forum "China's 70-Years Development and the Construction of the Community with a shared Future for mankind" On November 5, Stjepan Mesic, senior adviser of the SRCIC and former President of Croatia, was invited to attend the sub-forum "China's 70-Years Development and the Construction of the Community with a shared Future for mankind" under the 2nd Hongqiao International Economic Forum. Stjepan Mesic said in his speech that he was impressed by China's achievements in poverty reduction under the banner of socialism. A total of 850 million Chinese people have been lifted out of poverty and have contributed more than 70 percent to the cause of global poverty reduction. "I would like to congratulate the industrious and brave Chinese people, who are the main driving force behind China's development to this day. China has become a leader with the United States in areas such as 5G technology."He said that China's holding of the CIIE is a very strong response to the trend of world trade protectionism. He stressed that China is the only country in today's world that has a global perspective and hopes to build a better world for all. China has the ability to drive the world order towards multipolarization and new multilateralism.Belt and Road Initiative (BRI) is a very good proof.In his view, the BRI is bound to change the world political structure reflecting the order of power over the past few centuries.“It will take us a long time to eliminate the pain of geopolitics, populism, protectionism and so on.” Stjepan Mesić has visited China many times and witnessed with his own eyes how China has created many economic miracles and made the impossible possible. "I believe that China, together with other countries, will eventually build a community of shared future for mankind. Photo of Stjepan Mesić with Vice Chairman & Secretary General of SRCIC Li Zhonghangat the closing ceremony of 2018Silk Road Business Summit (Zhangjiajie) Source: People's Daily, Xinhua News Agency, sina.com
Former Slovenian President Türk interviewed by CGTN at SRCIC Beijing Office
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Former Slovenian President Türk interviewed by CGTN at SRCIC Beijing Office
12 Aug 2019
On August 10, former Slovenian President Türk was interviewed by China Global Television Network (CGTN) at the SRCIC Beijing Office. The full context is as below: The thundering trade war between China and the U.S. shows no sign of cooling down. The latest round of escalation came when the United States threatened to slap 10 percent tariff on an additional 300 billion U.S. dollars of Chinese goods and China responded by suspending new imports of American agricultural goods. China and the U.S. are still far from reaching a consensus, but the consensus of the world at large is: the trade war is wreaking havoc the global economy. "The global development has already started to slow down. Slowing down in parts of Europe has already been felt, including in Germany,” said former President of Slovenia Danilo Türk. "All of that is not a very good promise for the future. So we in Europe would very much like this policy of tariffs currently pursued by the United States to be reversed,” Türk said in a CGTN interview. China is far from being the only target of U.S. President Donald Trump. Trump has or threatens to slap tariffs on other countries as well, in favor of American industries. "The tariffs as a way of regulating international trade is a blunt and old fashioned instrument,” Türk criticized, adding that "There are many more sophisticated ways of promoting trade and creating an appropriate balance in global trade." Studies show that tariff might boost United States' industry in short term, but will hurt consumers, which offset its benefit. The United States imposed tariffs on Chinese tires during the Obama Administration. Research by the Peterson Institute shows that tariff created about 1,200 jobs for American tire industry. That's pretty much the maximum number of jobs the tariffs could have created, the study shows. But the Peterson Institute research found out that those jobs cost about 1.1 billion U.S. dollars, all borne by American consumers, who had to pay higher prices for tires. Türk stressed that the landscape of global trade has changed. Now the time has come for trade in services, in investment measures, and in intellectual property, which are areas that will allow international trade to become more sophisticated, said Türk. "Now President Donald Trump's measures have put this progress at risk,” he added. "Trade war is very bad for global growth, for individual economies, for the international system of trade, and eventually for the United States,” Türk warned. Source: cgtn.com
SRCIC Chairman Visits ACCIC President Gao Yunlong
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SRCIC Chairman Visits ACCIC President Gao Yunlong
5 Aug 2019
On August 5 of 2019, SRCIC Chairman Lu Jianzhong and Dr. Adrian Cheng Chi-Kong, Executive Vice Chairman and General Manager of the New World Development Company Limited, SRCIC's strategic partner, paid a visit to Gao Yunlong, Vice Chairman of the CPPCC National Committee and President of All-China Chamber of Industry and Commerce (ACCIC). Chairman Lu briefed the development history of SRCIC and major SRCIC events and projects, including the Silk Road Business Summits and Silk Road Sunshine Fund Program. Chairman Lu expressed his willingness to join hands with New World Group to set up a special fund under the China Foundation for Peace and Development. The fund aims to sponsor the economic and cultural activities related to Belt and Road Initiative (BRI), to build a mechanism and platform for dialogue, exchange and pragmatic cooperation between China and foreign countries, and to support projects involving medical treatment, education, vocational training, building roads and drilling wells in Belt and Road countries and regions to benefit local people. President Gao warmly welcomed the SRCIC delegation. He encouraged Dr. Adrian Cheng to carry forward his family's patriotism for China and Hong Kong and the devotion to public welfare. Domestically, the New World Group is encouraged to integrate itself into the national development strategy, to expand investment in the mainland and to be more involved in state governance and Hong Kong's social affairs, to contribute to China's economic development and Hong Kong's prosperity and stability. Internationally, Gao encouraged the New World Group to actively participate in the BRI construction, to promote peoples' mutual understanding and the understanding of the BRI concept, and to build a solid foundation for the high-quality development of BRI for a community of shared future for mankind. SRCIC Deputy Secretary General Wang Yan also joined the visit.
BCCI President visits SRCIC Beijing Office
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BCCI President visits SRCIC Beijing Office
5 Jul 2019
Bulgarian President Rumen Radevis onhis state visit to China at the invitation of Chinese President Xi Jinping from July 1 to 5 during which he attended the 2019 Summer Davos Forum. Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry (BCCI), led the business delegation in accompanyingPresident Rumen Radev. On July 2, BCCI andChinaCouncil for the Promotion of International Trade (CCPIT)Dalian Sub-Counciljointly held the Bulgaria-China (Dalian) Business Forumand signed cooperativeagreement during the 2019 Summer Davos Forum. 21 enterprisesfromBulgarian business delegation held "one-to-one" talks with more than 100 enterprises of Dalian city. On July 3, a delegation led by Tsvetan Simeonov, President of BCCI, visited SRCIC Beijing office. SRCIC Deputy Secretary General Wang Yan received the delegation. BCCI President Tsvetan Simeonov (L2) and SRCIC Deputy Secretary General Wang Yan (R2) Tsvetan Simeonov gave a detailed introduction of BCCI and the investment situation of Chinese enterprises in Bulgaria. He hoped to introduce more Chinese high-tech enterprises to invest in Bulgaria. Deputy Secretary General Wang Yan introduced the organization structure of SRCIC, in particular the professional committees and the services provided to its members. In the afternoon, the Bulgarian Embassy in China held the "China-Bulgaria Business Forum" in Beijing. Bulgarian President Rumen Radev, BulgarianAmbassador to China Grigor Porozhanov,BCCI President Tevitan Seminov, and China International Chamber of Commerce Secretary General Yu Jianlong attended the Forum and delivered opening speeches. An enterprisesmatchmaking meeting was also held during the Forum. Forum Scenes
Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
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Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
4 Jul 2019
Ms. Iraz, business representative of Çalık Holding Group in China (L) and Ms. Tian Xiaohong, SRCIC Deputy Secretary General (R) On July 4, Ms. Iraz, business representative of Çalık Holding Group in China visited SRCIC Shanghai Office and Hongqiao Overseas Trading Center accompanied by Ms. Tian Xiaohong. The two sides discussed the issues pertaining to the establishment of an office in Shanghai for Çalık Holding Group. Ms. Tian Xiaohong gave a detailed briefing on the relevant situation of Hongqiao Overseas Trade Center, and said SRCIC Shanghai Office could offer a help for Çalık Holding Group to participate in China International Import Expo. “We are also willing to recommend the most appropriate office for Çalık Holding Group in Shanghai, provide consultation with the relevant preferential policies of the government and assistance in visa application, taxation, finance, business registration, legal affairs, etc.”Ms. Tian Xiaohong said. Ms. Iraz said that she is very grateful for the warm reception of SRCIC, and she would submit a formal report to the high management level of Çalık Holding Group to confirm final location and details.
China signs 197 B&R cooperation documents with 137 countries, 30 int'l organizations
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China signs 197 B&R cooperation documents with 137 countries, 30 int'l organizations
18 Nov 2019
China has signed 197 Belt and Road (B&R) cooperation documents with 137 countries and 30 international organizations by the end of October, the country's top economic planner said Friday. Apart from developing and developed economies, a number of companies and financial institutions from developed countries have collaborated with China to expand the third-party market as well, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told a news conference. The construction of the China-Laos railway, China-Thailand railway, Jakarta-Bandung High-Speed Railway and Hungary-Serbia railway are making solid headway while projects including the Gwadar Port, Hambantota Port, Piraeus Port and Khalifa Port have gone smoothly, the NDRC said. Meanwhile, the building of the China-Belarus industrial park, China-UAE Industrial Capacity Cooperation Demonstration Zone and China-Egypt Suez Economic and Trade Cooperation Zone is also forging ahead. From January to September, China's trade with B&R countries totaled about 950 billion U.S. dollars, and its non-financial direct investment in these countries topped 10 billion dollars, Meng said. She noted that China has made bilateral currency swap arrangements with 20 B&R countries and established RMB clearing arrangements with seven countries. In addition, the country has also made achievements with B&R countries in other sectors including technology exchange, education cooperation, culture and tourism, green development and foreign aid. Source: Xinhua News Agency
China's outbound investment in B&R countries totaled 11.46 billion U.S. dollars in first 10 months
China's outbound investment in B&R countries totaled 11.46 billion U.S. dollars in first 10 months
15 Nov 2019
China's non-financial outbound direct investment (ODI) posted steady growth in the first 10 months of the year, data showed Thursday. Non-financial ODI in 164 countries and regions amounted to 621.78 billion yuan (90.46 billion U.S. dollars) in the period, up 5.9 percent year on year, according to the Ministry of Commerce. The pace accelerated from the 3.8-percent growth registered in the first three quarters. In October alone, China's ODI soared 28 percent year on year to 66.95 billion yuan. Chinese companies increased investment in countries participating in the Belt and Road Initiative during the first 10 months, adding a total of 11.46 billion U.S. dollars of new investment in 56 countries, accounting for 12.7 percent of the total ODI. The structure of ODI continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, wholesale and retail, according to the ministry. No new ODI projects were reported in the sectors of real estate, sports and entertainment, the ministry said. Big projects took the lion's share of the value of new deals. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 587, up 14 from the same period a year earlier. The value of infrastructure projects reached 130.4 billion dollars, accounting for 73.8 percent of the newly signed contracts. Major overseas projects created employment for locals. By the end of last month, Chinese companies had provided 830,000 jobs for local people, data also showed. Source: Xinhua News Agency
Xi'an, Hong Kong to promote cooperation
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Xi'an, Hong Kong to promote cooperation
14 Nov 2019
InvestHK holds an investment promotion symposium in Xi'an on Nov 12. (chinadaily.com.cn) InvestHK, Hong Kong Special Administrative Region government's direct investment promotion agency, held an investment promotion symposium in Xi'an, capital of Shaanxi province, on Nov 12. The symposium aimed at introducing Hong Kong's business environment and tax advantages to Xi'an enterprises, encouraging them to expand their overseas business in Hong Kong. Vincent Tang, associate director-general of InvestHK, said that Xi'an enterprises can utilize the platform of the Hong Kong International Finance Centre, as well as professional services to conduct business development and financing. In the future, the two sides will further strengthen cooperation and take the opportunities under the Belt and Road Initiative (BRI), he added. Tang Yugang, deputy director of Shaanxi Provincial Department, said that a growing number of Xi'an enterprises will explore the international market, making use of the unique advantages of Hong Kong. In recent years, with the in-depth implementation of the BRI, Shaanxi and Hong Kong have become increasingly close in economic and trade cooperation. Hong Kong has been the first source of overseas investment in Shaanxi for many years and is also an important area for Shaanxi's import and export trade. As of September 2019, Shaanxi has established 71 overseas enterprises in Hong Kong, with a cumulative actual investment of $2.59 billion, accounting for 48 percent of the province's total actual external investment. Source:en.xa.gov.cn
China-Greece BRI cooperation serves as model for EU countries
China-Greece BRI cooperation serves as model for EU countries
13 Nov 2019
ATHENS, Nov. 10 (Xinhua) -- China-Greece collaboration under the Belt and Road Initiative (BRI) proposed by Chinese President Xi Jinping six years ago is a model for mutually beneficial cooperation between China and the European Union (EU) countries, officials, scholars and businessmen have said. The attendees at a conference on bilateral relations and the BRI organized at Aikaterini Laskaridis Foundation in Piraeus Port at the weekend praised China-Greece cooperation so far in infrastructure, shipping, finance, trade, tourism, energy, education, culture and other fields. "The BRI is a major historic opportunity for common development. China-Greece teaming in the BRI context is a model for EU countries conducting mutually beneficial cooperation," said Xie Fuzhan, president of the Chinese Academy of Social Sciences. Greece is among the first EU countries to sign an intergovernmental cooperation document with China to jointly advance BRI cooperation. In April this year, Greece joined the cooperation mechanism of China and Central and Eastern European Countries as a full member, creating new opportunities for the development of the mechanism as well as for China-EU relations and China-EU connectivity. The successful regional cooperation has been giving impetus to the prospects of the BRI in Europe, participants at the conference said. Through Chinese investment, Greece's Piraeus Port, a flagship project in bilateral BRI collaboration, has been transformed into one of the leading container ports in the Mediterranean. It becomes a key transport corridor linking the port to central Europe. The turnover of the port amounted to 70.6 million euros (around 77.8 million U.S. dollars) in the first half of 2019, up 11.2 percent year-on-year. "Piraeus Port is one of the first major projects ... BRI is a work in progress. More must be done, but the results are measurable and are quite positive," Thanos Dokos, deputy national security advisor, told the conference, underlining Greece's willingness to further strengthen cooperation with China. Greece can be a complementary bridge between the EU and China, the Greek official said, stressing the need to build confidence and reassure that the final outcome will be a win-win situation for all. There is so much that can be achieved in the future, starting from shipping and tourism to culture, Dokos talked about the prospects of China-Greece cooperation under the BRI. "Today with the deepening of globalization, the BRI, rooted in the spirit of the ancient Silk Road, is giving impetus for cooperation between the two countries of different scales, different systems and different cultures," said Stella Kostopoulou, associate professor at School of Economics at the Aristotle University of Thessaloniki. The potential to see more Chinese tourists to Greece in coming years and more understanding and cooperation via people-to-people exchanges, is most promising, said Kostopoulou, who is also president of the European Interdisciplinary Silk Road Tourism Center. "For China, Greece, a member of the EU, has a strategic position as a gateway to Europe and the broader region and a transport hub on the Maritime Silk Road. Therefore, Greece can now acclaim also the role of the Chinese tourist hub, the tourist gateway to the rest of Europe," Kostopoulou added. In an article published on Greek newspaper Kathimerini (The Daily), former Greek Prime Minister George Papandreou, also referred to bilateral cooperation under the BRI and the new horizons of opening up. The major challenges of the era of globalization demand international cooperation, he noted. "Collaboration in the BRI context has great prospects," the former prime minister said, saying that "China COSCO Shipping's investment in Piraeus Port has been recorded as one of the most successful examples of this initiative." Source: Xinhua
London offshore RMB daily trading volume hits fresh record: report
London offshore RMB daily trading volume hits fresh record: report
12 Nov 2019
Record amounts of Chinese Renminbi (RMB) are now being traded daily in London, according to the 5th edition of the London RMB Business Quarterly published Monday. The report reveals that, in the second quarter of 2019, an average of 85 billion British pounds (109 billion U.S. dollars) worth of RMB were traded on a daily basis in London, up 8.8 percent quarter-on-quarter, and 22.9 percent year-on-year. Between June and August, the average daily clearing volume by the UK designated RMB clearing bank -- China Construction Bank London Branch -- hit 43.97 billion RMB, up 18.4 percent from the previous report. The report also covers RMB bonds as eligible collateral accepted by the UK market, which is an important policy outcome of the 10th UK-China Economic and Financial Dialogue (EFD) held in June. "This development may help relieve the shortage of high-quality liquid assets (HQLA) in the UK market, strengthen the status of London as an offshore RMB hub, and facilitate the opening up of China's bond market as well as the internationalisation of the RMB," the report pointed out. "It's no secret that the UK has long been a world leader in foreign exchange ... Naturally, we've also grown to become the leading hub for RMB trading, with levels of the Chinese currency going through London far outstripping that of any other financial centre. I look forward to seeing this trend continue long into the future," said Catherine McGuinness, policy chair at the City of London Corporation. The London RMB Business Quarterly was launched by the City of London Corporation and the People's Bank of China Representative Office for Europe in September 2018. Source: Xinhua News Agency
Second CIIE concludes with 71.13-bln-USD tentative deals
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Second CIIE concludes with 71.13-bln-USD tentative deals
11 Nov 2019
Photo taken on Nov. 10, 2019 shows a news briefing for the closing of the second China International Import Expo (CIIE) in Shanghai, east China, Nov. 10, 2019. The second CIIE concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. (Xinhua/Fang Zhe) The second China International Import Expo (CIIE) concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. The amount rose 23 percent from that of last year, Sun Chenghai, vice director of the CIIE Bureau, told a news conference. A total of 181 countries, regions and international organizations attended the expo, and more than 3,800 enterprises participated in the exhibitions. The six-day event, under the theme of "New Era, Shared Future," attracted more than 500,000 domestic and overseas buyers, Sun said. He said more than 230 companies from all over the world have signed up for the third CIIE, with their combined exhibition area exceeding 84,000 square meters. Among them are more than 80 Fortune Global 500 companies or industrial leaders, with a total exhibition area of more than 50,000 square meters, Sun added. Source: Xinhua News Agency
ICC Pakistan hosts the Launching Ceremony and Introductory Workshop on Incoterms® 2020
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ICC Pakistan hosts the Launching Ceremony and Introductory Workshop on Incoterms® 2020
30 Oct 2019
The International Chamber of Commerce has launched the revised "International Commercial Terms" (Incoterms® 2020), which will help prepare business for the next century of global trade. Facilitating trillions of dollars in global trade each year, the Incoterms® rules are a commonly accepted set of definitions and rules governing commercial trade activity. Incoterms® rules are applied by companies for countless business transactions worldwide supporting ICC's vision to enable business to secure peace, prosperity and opportunity for all. Incoterms®rules are the world's essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. The Incoterms® rules provide specific guidance to individuals participating in the import and export of global trade on a daily basis. The Incoterms® rules feature abbreviations for terms, like FOB ("Free on Board"), DAP ("Delivered at Place") EXW ("Ex Works"), CIP ("Carriage and Insurance Paid To"), which all have very precise meanings for the sale of goods around the world. Incoterms®2010 is the most current version of the rules to date. This latest edition of the Incoterms® rules included an increased obligation for buyer and seller to cooperate on information sharing and changes to accommodate "string sales." ICC Pakistan hosted the Launching Ceremony and Introductory Workshop on Incoterms® 2020 at Karachi on 21st October 2019. The workshop was conducted by an international expert on Incoterms Ms. Emily O' Connor, Director of Multilateral Rules for Trade & Investment at ICC who oversaw the development of Incoterms®2020 rules. The workshop focused on the major changes to the revision of the Incoterms® rules. A full public presentation of the new rules and demonstration through case-studies of the major changes and processes was provided by the trainer. Chairman Pakistan National Committee of the International Chamber of Commerce (ICC Pakistan) Mr. Tariq M. Rangoonwala expressed his appreciation of the efforts of its Banking Commission and Chair Mr. Ahsan Aziz and ICC itself for having chosen Karachi to be among the first major cities to make this international launch of Incoterms® 2020. He said, this is also a very good occasion for trade bankers, freight forwarders, exporters, importers, regulators and shipping companies to interact as well as to understand from an international expert about the changes and implications in Incoterms® rules. Speaking at the occasion, Nassir Salim, Head Global Operations-HBL said "HBL is Pakistan's largest commercial bank and we endeavor to support efforts that foster sharing of knowledge and best practices across the economy. This workshop will improve the overall awareness levels of parties involved in international trade i.e. the business community of Pakistan, shipping companies and bank on the new Incoterms. This increased awareness would facilitate a deeper understanding of trade transactions and the associated risks. In line with the country's approach, HBL recently held seminars across different cities of the country, where we engaged our client base on how to strengthen governance and standards for trade. Being this workshop's partner underlines HBL's efforts at further enhancing compliance standards both at HBL and across the country.” Mr. Ahsan Aziz, GM Head International Compliance HBL and Chair of the Banking Commission of ICC Pakistan on the occasion thanked ICC and Ms. Emily O' Connor to accept our invitation to conduct this important workshop at Karachi. He also thanked all participants, Partner and Sponsors for their support. Mr. Babar Badat, Immediate Past President of FIATA and Chair of the IRT-TIR Commission of ICC Pakistan emphasized on the importance of Incoterms in the transport, logistics and shipping industries. He informed that the latest version, Incoterms® 2020 contains many changes to rules which apply to billions of dollars of international trade each year. The workshop was partnered by Habib Bank Limited, sponsored by USAID and Habib Metropolitan Bank Ltd., and supported by Standard Chartered Bank Pakistan. About International Chamber of Commerce The International Chamber of Commerce (ICC) is the world's largest business organization with a network of over 6.5 million members in more than 130 countries. ICC is the only private sector organization which enjoys Observer Status at the United Nations and has close working relationships with other intergovernmental organizations including WTO, the G8 and the G20. We are the world business organization. The fundamental mission of ICC is to promote international trade, responsible business conduct and a global approach to regulation through a unique mix of advocacy and standard setting activities together with market leading dispute resolution services. ICC was founded in 1919. Today it has a unique network with the power to influence policy in more than 130 countries. Please see photographs of the event: https://flic.kr/s/aHsmHWyQ4H About ICC Pakistan The Pakistan National Committee of the International Chamber of Commerce (ICC Pakistan) was founded in 1955 and participated actively in ICC affairs. In 1960 the PNC-ICC hosted the International Businessmen's Conference at Karachi under the auspices of the Commission on Asian and Far Eastern Affairs of the International Chamber of Commerce (CAFEA-ICC). ICC Pakistan was reorganized in 1999 and is a consultative body to senior policy makers providing voluntary guidelines and information, which help to facilitate legislation allowing for the development of a conducive and enabling environment for direct investment protection provisions, trade & transport facilitation, intellectual property, Digital Economy, IT & Telecom, Energy & Environment, Documentary Credits, Trade Finance rules and other programmes for facilitating growth in international trade and investment. ICC Pakistan is the National Guaranteeing and Issuing Organization for the Istanbul Convention for temporary admission under ATA Carnets and the UN TIR Convention 1975. The UN TIR Convention is overseen by the International Road Transport Union (IRU) of which the Pakistan National Committee of the ICC is the Associate Member in Pakistan. Source: ICC Pakistan
CSEBA and Qatar Airways co-organize China Beyond Business event
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CSEBA and Qatar Airways co-organize China Beyond Business event
16 Oct 2019
ZAGREB - Chinese Southeast European Business Association (CSEBA), a member of Silk Road Chamber of International Commerce, has organized an event called "China Beyond Business" with Qatar Airways. The aim of this gathering was to raise the awareness of the business community about the importance of doing business with China and to introduce potential travelers to the benefits of Qatar Airways. CSEBA Vice-President Matej Balen gave a presentation outlining the basic directions of the association's activities and introducing many details related to doing business with China. The CSEBA was established with a mission to provide the basis for economic and financial cooperation between China and the countries of South-Eastern Europe, including: Croatia, Bosnia and Herzegovina, Serbia, Slovenia, Montenegro, FYR of Macedonia, Kosovo, Romania, Bulgaria, Albania, Greece, Turkey, Ukraine, Moldova, Belarus, as well as the countries of: Georgia, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan and Russia Source: Official website of CSEBA
Star of October -Zhangjiajie
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Star of October -Zhangjiajie
14 Oct 2019
Introduction of the Silk Road Urban Alliance The Silk Road Urban Alliance (SRUA), jointly initiated by the Silk Road Chamber of International Commerce (SRCIC) and China Association for Friendship, is a thematic working mechanism among cities of the Belt and Road countries and regions. On 16 October 2018, the 2018 Silk Road Business Summit was successfully held in Zhangjiajie, China's Hunan Province. SRUA was formally established at the Zhangjiajie International Tourism Forum, an affiliated session of the Summit. The city of Zhangjiajie was elected as SRUA first rotating presidency city and Mayor Liu Ge’an as rotating president. Silk Road Urban Alliance aims to strengthen cultural exchanges and trade cooperation among its members under the Belt and Road Initiative. By providing a pragmatic platform, the Urban Alliance enables its members to share their experience in city governance, so as to better seize the opportunities and address the challenges in city development. Currently, SRUA has 58 member cities from 22 countries. SRUA Founding Assembly and the First Zhangjiajie International Tourism Forum SRUA first Rotating President Liu Ge'an taking a group photo with member city representatives SRUA first Rotating Presidency City Zhangjiajie Top left: Zhangjiajie National Forest Park Top right: Zhangjiajie Tianmen Mountain and Tianmen Cave Bottom left: Zhangjiajie Grand Canyon Glass Bridge Bottom right: art performance- Tianmen Fox Fairy Located in the northwest of China's Hunan Province, the heart of Wuling Mountains, Zhangjiajie Municipality was established in 1988 because of the abundant local tourism resources. Composed of two districts and two counties, Zhangjiajie covers an area of 9,533 square kilometers and has a population of 1.72 million, 75.28% of which are minorities. In 2018, Zhangjiajie's GDP reached 57.892 billion yuan, with an increase of 7.5% over the previous year. The per capita GDP of Zhangjiajie's resident population was 37,719 yuan, an increase of 7.2% compared to 2017. The per capita disposable income of urban and rural residents reached 24,802 yuan and 9,596 yuan respectively. With its unique tourism resources, Zhangjiajie Municipality has been dedicated to developing tourism since its founding. As tourism infrastructure becomes increasingly improved and the tourism industry keeps growing, Zhangjiajie has become one of the best tourist destinations in China and even among China's most influential tourist cities for overseas market. In 2018, Zhangjiajie received 85.217 million tourists with the tourism revenue totaling 75.68 billion yuan, realizing an increase of 16.17% and 21.33 % respectively. Zhangjiajie is a regional transportation hub in Wuling Mountain area, with convenient transportation network of airline, railway and expressway. It is the only national first-class airport in Wuling Mountain area with more than 70 domestic and international destinations in reach, including Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Tianjin, Taipei, Kaohsiung, Hong Kong, Busan, Qingzhou, Daegu, Bangkok, Hanoi, Ho Chi Minh City and Jakarta. The railway connects Zhangjiajie with over 50 cities, such as Beijing, Shanghai, Guangzhou and Shenzhen. With the implementation of China's 13th Five-Year Plan, the high-speed railways like Qianjiang-Zhangjiajie-Changde Railway, Ankang-Zhangjiajie-Hengyang Railway and Zhangjiajie-Jishou-Huaihua Railway are now under construction, which will bring Zhangjiajie tourism into the era of high-speed rail. Zhangjiajie has successfully held a series of international events, such as the 2018 Silk Road Business Summit, the 12th NEAR Generally Assembly, the First Asparagus Big Health Asia Forum. Meanwhile, there have been many competitive events held in Zhangjiajie, including the World Wingsuit Flying Tournament, Huanglong Music Season, International Tourism Poetry Festival and so on. Zhangjiajie has also set up Silk Road Stations in multiple countries to expand its international influence. 2019 SRUA Annual Conference (Zhangjiajie) To build SRUA a pragmatic platform for people-to-people exchanges, economic cooperation, cultural mutual learning and common development among its members, the 2019 SRUA Annual Conference will be held on 8-10 December 2019 in Zhangjiajie by the China Association for Friendship, the People's Government of Zhangjiajie, and the Silk Road Chamber of International Commerce. The conference will include opening ceremony, plenary meeting, parallel forums, closing ceremony and so forth. The meeting will welcome over 200 delegates for participation, including SRUA members, representatives of friendly cities, international tourism organizations, enterprises, as well as scholars and experts.
Optimizing the Development Impacts of the Belt and Road Initiative to achieve the SDGs in Asian Economies
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Optimizing the Development Impacts of the Belt and Road Initiative to achieve the SDGs in Asian Economies
25 Sep 2019
Bangkok, 25 September 2019 - The regional workshop on “Assessing the Potential Impact of the Belt and Road Initiative on Sustainable Development Goals in Asian Economies” kicked off today in Bangkok, Thailand. Organized by the United Nations Department of Economic and Social Affairs (DESA) in cooperation with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the workshop aims to discuss and understand how the Belt and Road Initiative (BRI) can contribute to the implementation of the 2030 Agenda while managing its potential risks in the region. The workshop provides a platform for exchanging views and finding results from the experience and research activities undertaken by DESA, ESCAP and other UN agencies. It builds on the in-depth BRI-related research conducted by DESA. UN DESA is partnering with national governments in implementing a multi-country project “Strengthening national policy capacities for jointly building the Belt and Road towards the Sustainable Development Goals” (BRI-SDGs Project), sponsored by the 2030 Agenda Sub-fund of the UN Peace and Development Trust Fund. The Project has been implemented in 14 countries since July 2018, namely Azerbaijan, Bangladesh, Cambodia, Czechia, Georgia, Jordan, Kazakhstan, Kyrgyzstan, Lao PDR, Myanmar, Romania, Serbia, Sri Lanka and Thailand. It utilizes the World Economic Forecasting Model developed by DESA and tailored to national contexts to assess the macroeconomic impact of the initiative in various countries. The workshop also highlights ESCAP's BRI-related research and programmatic activities with a focus on sustainable connectivity and macroeconomic analysis. The UN's engagement on the BRI is primarily aimed at aligning its implementation more closely with the 2030 Agenda for Sustainable Development. This workshop serves as a good example of exploring synergies of BRI-related activities by UN Agencies, which enables the UN's engagement to more effectively serve the sustainable development objectives of countries along the Belt and Road. The workshop also contributes to strengthening the capacities of participating experts on impact assessment and modelling analysis on major regional initiatives. As part of the regional workshop, national stakeholders from Thailand discussed the impacts of BRI on the national development priorities in the country and examined the impact of infrastructure connectivity on local investment, trade and tourism in particular. Over 50 representatives from the government, think tanks, private sector and development partners as well as colleagues from DESA, ESCAP, UNDP, UNICEF, UN WOMEN, UNOPS, and UNDCO regional office participated in the workshop. Dr. Namsuk Kimfrom Economic Analysis and Policy Division ofUnited NationsDepartment of Economic and Social Affairs took part in the workshop. Heattended 2018 Silk Road Business Summit in Zhangjiajie held by SRCIC. ICC Thailand, a member of SRCIC, also sent a group of representatives to the workshop. Source: www.brisdgs.org
Star of September - JSC Partnership Fund
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Star of September - JSC Partnership Fund
20 Sep 2019
Introduction JSC Partnership Fund (PF) is a state-owned investment fund established in 2011. The fund has been assigned BB- ratings by Fitch. PF was established on the basis of consolidating the ownership of the largest Georgian state-owned enterprises operating in transportation, energy and infrastructure sectors. PF’s main objective is to promote investment in Georgia by providing co-financing (equity, mezzanine, etc.) in projects at their initial stage of development. PF is split in two separate business units: 1. Asset management - PF has assets under management with combined annual turnover of over USD 750 million in 2012. PF's portfolio is comprised of Georgia's strategically important assets: Georgian Railway - 100% of shares Georgian Oil and Gas Corporation (GOGC) - 100% of shares Georgian State Electrosystem - 100% of shares Electricity System Commercial Operator - 100% of shares JSC Telasi - 24.5% of shares 2. Investment activity – the number of the projects implemented or under implementation in various sectors is worth a total value of over USD 1 billion. PF has a mandate to invest only in Georgia. PF's strategy is aimed at attracting and supporting private investors. Energy, agriculture, manufacturing, real estate/tourism and logistics/infrastructure sectors are on the top of the priority list as these sectors are largely untapped and have great potential for further development. Cooperation 1. The Silk Road International Development Fund and JSC Partnership Fund (PF) On 5 April2016, SRCIC held its first international roadshow in Tbilisi, capital of Georgia.During the road show, the Silk Road International Development Fund initiated by SRCIC signed a strategic cooperation agreement with PF. The President of Georgia Giorgi Margvelashvili and SRCIC delegation SRCIC and PF representatives signing an MOU On 8 September2017, Chairman of SRCIC Financial Committee David Kiang and Chairman of JSC Partnership Fund David Saganelidze signed an MOU for further enhancing the project of the Silk Road International Development Fund. The unveiling ceremony for the Silk Road International Development Fund On 10 December 2017, the Silk Road International Development Fund was officially unveiled during the celebration of the second anniversary of SRCIC. “The Belt and Road Initiative has brought the sharing opportunities to the global development,” said Ms. Natela Turnava, Vice President of PF. “Therefore, PF and SRCIC should join hands in synergy to create an industrial hub in Georgia and encourage more investors to participate in the Belt and Road development.” 2. JSC Partnership Fund (PF) actively participates in SRCIC activities PF has always maintained close relationship and interaction with SRCIC. PF has attended the Silk Road Business Summit of SRCIC for three successive years in 2016, 2017 and 2018, and also the first and second anniversary celebrations of SRCIC. Recent activities 1. Delegation of Chan-Ba Ecological District (CBE) in Xi'an visits the JSC Partnership Fund (PF) On 4 July 2019, President of PF, David Saganelidze welcomed the delegation led by Director of CBE Management Committee from Xi'an, China. During the meeting, the two sides held a discussion on the exhibition center of the Xi'an Free Trade Zone and the possibility of utilizing the ecological zone along the Belt and Road countries. Meeting between PF President David Saganelidze and Chan-Ba Ecological District delegation 2. JSC Partnership Fund (PF) signs an MOU with the Hungarian Export-Import Bank Plc. (Eximbank) On 11 July 2019, PF President David Saganelidze signed a formal memorandum of cooperation with Robert Gryliov, representative of Eximbank. The MOU was signed during the Georgia's Batumi International Conference “Georgia's European Way”, aiming at strengthening the future cooperative relationship between the two sides. The 16th International Conference was held to celebrate the 10 years' Eastern Partnership.The Conference focused on the new situation and opportunities for cooperation between the European Union and its partner countries, and the role of Georgia in the region. During the conference, Foreign Minister of Georgia David Zalkaliani gave a welcoming speech.Donald Tusk, President of the European Council, Salome Zurabishvili, President of Georgia, and Archer Tarakvadze, President of Georgian Parliament, were present at the Conference and delivered speeches. PF President David Saganelidze signing an MOU with representative of Eximbank Robert Gryliov Source: Official website of JSC Partnership Fund
SRCIC member attended the 4th China-Arab States Expo
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SRCIC member attended the 4th China-Arab States Expo
9 Sep 2019
The 4th China-Arab States Expo was successfully held on September 5-8, 2019, in Yinchuan, Ningxia. Cao Jianming, Vice Chairman of the Standing Committee of the National People's Congress, attended the opening ceremony, delivered a congratulatory letter from President Xi Jinping, and gave a keynote speech. Organizations and enterprises from 89 countries, 107 delegations, and more than 2,900 regional business associations participated in a series of activities, including the opening ceremony, eight exhibitions and investment promotions, four forums, and events staged by the guest province of Jiangsu. Participants also carried out extensive business networking and industrial investigations in trade and investment, high-tech, internet plus, digital economy, infrastructure and capacity cooperation. SRCIC member Mr. Kassem Tofailli, President of Arab Chinese Cooperation and Development Association (ACCDA), attended the opening ceremony and delivered a speech at the 2nd Ningxia International Friendship Forum. 162 representatives from local governments and international friendship organizations in 21 countries were present at the Forum. The delegates also participated in the parallel sessions of the China-Arab States Expo. Group photo of Chairman Kasim Tufali (first from right) with guests attending the opening ceremony Mr. Kassem Tofailli briefed the efforts made by ACCDA in promoting cultural and people-to-people exchanges between Arab countries and China. He suggested the participating international organizations join non-profit organizations such as the Silk Road NGO Cooperation Network and the Silk Road Chamber of International Commerce (SRCIC), who advocate stronger cooperation under the framework of Belt and Road Initiative. Thanks to SRCIC and its Silk Road Sunshine Fund, some Arab students have been able to study in China, who will be future ambassadors to further Sino-Arab cooperation and Sino-Arab friendship. SRCIC member Mr. Daurov Khussey, Chairman of the Dungan AssociationofKazakhstan, was also invited to the opening ceremony and the 3rd China-Arab States Business Summit. The Summit was co-organized by the China Council for the Promotion of International Trade, Secretariat of the League of Arab States, General Union of Chambers of Commerce, Industry and Agriculture, and the People's Government of Ningxia Hui Autonomous Region. Group photo of Chairman Daurov Khussey (first from left) with other guests The 4th China-Arab States Expo was themed "New Opportunity, New Future," adhered to the principle of "extensive consultation, joint contribution and shared benefits", and focused on economic and trade cooperation, high and new technology, digital economy, and production capacity cooperation.At the signing ceremony, a total of 362 projects were signed between China and Arab States, suggesting RMB 185.42 billion yuan of investment and trade.The signed projects cover a variety of sectors, including modern agriculture, high and new technology, equipment manufacturing, infrastructure, production capacity cooperation, industrial park construction, "Internet + medical and health", tourism cooperation etc. Source: part of the content is extracted from the relevant reports of Xinhuanet
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