Xi'an sees more China-Europe rail-freight trips in H1
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Xi'an sees more China-Europe rail-freight trips in H1
3 Jul 2020
China-Europe freight trains to and from Xi'an, capital of northwest China's Shaanxi Province, made more than 1,600 trips in the first half of this year, almost double the figure for the same period last year, local authorities said Thursday. Together they carried more than 1.3 million tonnes of goods from January to the end of June, 1.9 times the volume of the first half of last year, according to the Xi'an International Trade & Logistics Park. Xi'an launched its first China-Europe freight train in 2013. Currently, the train service has 15 routes linking Xi'an with 44 cities in 14 countries, including Kazakhstan, Russia, Belgium and Germany. More than 5,000 types of goods, including automobiles, textile raw materials, household cleaners and personal care products, are transported by the freight trains. In recent years, Xi'an has gradually become a freight-transfer hub for many domestic cities. According to Sun Yimin, director of the administrative committee of Xi'an International Trade & Logistics Park, cargoes from 29 provincial-level regions, including Hubei, Anhui and Fujian, have come to Xi'an and been distributed overseas. Despite the COVID-19 epidemic, the trains are running smoothly, helping countries and regions along the Belt and Road to cope with the outbreak, stabilize trade and resume production. From January to May, more than 5,500 tonnes of anti-epidemic materials were transported via China-Europe freight trains from Xi'an to Central Asian and European countries, according to the China Railway Xi'an Group Co., Ltd. Source: Xinhua
China among high-performing financial inclusion countries in Asia: report
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China among high-performing financial inclusion countries in Asia: report
3 Jul 2020
China is among the high performers in terms of financial inclusion in Asian economies, according to an index launched by the Boao Forum for Asia (BFA). The "Asian Index of Financial Inclusion Ecosystem," unveiled on Thursday, is designed to evaluate the overall situation of the financial inclusion ecosystem of Asian sample countries, according to the BFA. High performers include China, Singapore, the Republic of Korea, the United Arab Emirates, Israel, Japan, Malaysia, Thailand, Bahrain, and Kazakhstan, said the BFA in a development report, released along with the index. Through continuous reform, China has built up a diversified and widely-covered financial inclusion institutional system, said Zhou Xiaochuan, BFA vice chairman and former governor of China's central bank. Zhou suggested that Asian countries can strengthen cross-country comparisons and exchange of experiences, deepen understanding of financial inclusion, and promote best practices. More efforts need to be made to keep financial institutions, which originate from and serve the grassroots, viable and sustainable to provide a broad spectrum of financial services to small and medium-sized enterprises, and vulnerable groups, he said. The BFA report highlighted practices such as China's efforts in developing financial inclusions from the aspects of national strategy, monetary credit supply, fiscal and tax policies, governance framework, and institutional capacity, as well as the experience of Mongolia and the Republic of Korea in promoting financial literacy, insurance awareness, and the protection of people. The report also put forward policy recommendations, including building a healthy digital financial inclusion ecosystem, and making good use of regional and global cooperation initiatives, such as the Belt and Road Initiative, to achieve common growth. Source: Xinhua
Outbound investment to BRI countries becomes a new growth area
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Outbound investment to BRI countries becomes a new growth area
2 Jul 2020
Clouds fill the sky at Marina Bay in Singapore on Dec 20, 2019. [Photo/Agencies] The countries and regions involved in the Belt and Road Initiative have become a new growth area for China's outbound direct investment, according to a report released by the Chinese Academy of Sciences on Monday. Last year, China's non-financial direct investment to those countries and regions involved in the Belt and Road Initiative reached $15.04 billion, accounting for 13.6 percent of the total investment, while the brick-and-mortar projects were worth $154.89 billion, accounting for 59.5 percent of the total, said the latest Report of Country Risk of Overseas Investment from China. The investment risk in the emerging economies is relatively higher than in the advanced economies, but the emerging economies remain the most promising destination for China's overseas investment. Furthermore, the average investment risk in the countries and regions involved in the Belt and Road Initiative is lower than in the overall risk, the annual report said. The report rated 114 countries with 18 countries at a low risk level, 68 at a moderate risk level, and 28 at a high risk level. Singapore took the first spot among the countries and regions involved in the Belt and Road Initiative to attract the most investment from China, and it is also a country with a low investment risk. From 2019, the intensifying trade conflict and increasingly tense geopolitical environment have aggravated uncertainties for international direct investment and international cooperation in the future, and the COVID-19 pandemic left many countries facing crises involving threats to public health, the domestic economy, external demand, commodity prices and capital flow. Although some countries have implemented supportive fiscal policies, and also monetary policies to ease the tension in financial markets, moderate risk will continue to dominate the economic outlook, said Wang Bijun, an associate research fellow at the Institute of World Economics and Politics, Chinese Academy of Social Sciences. The reported noted that, among advanced economies, the investment risk in the US, Canada, New Zealand and the UK saw an increase in 2020 compared to 2019. By the end of 2018, more than 27,000 Chinese domestic investors had set up 43,000 enterprises for overseas investment in 188 countries and regions, and over 80 percent of the world's countries and regions have Chinese investment, said the report. Source: China Daily
AIIB approves 7.3-mln-USD loan to support Maldives COVID-19 response
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AIIB approves 7.3-mln-USD loan to support Maldives COVID-19 response
2 Jul 2020
The Asian Infrastructure Investment Bank (AIIB) said Wednesday that its board of directors had approved a 7.3-million-U.S.-dollar loan to the Maldives to strengthen the country's health response to the COVID-19 pandemic. Co-financed by the World Bank, the project will enable the government to provide more personal protective equipment to medical professionals and strengthen health systems through stepped up testing capabilities, the AIIB said. This is AIIB's first project financing in the Maldives. "AIIB is strongly committed to ensuring that the government has the necessary resources and capacity to protect the most vulnerable in the country," said AIIB Vice President, Investment Operations, D.J. Pandian. The socioeconomic impact on the archipelago nation remains uncertain given its dependence on the international tourism market, with most of the country's tax and non-tax revenues originating directly or indirectly from tourism, according to the bank. The project was approved under a new Special Fund Window (SFW) as part of AIIB's COVID-19 Crisis Recovery Facility. AIIB's SFW is only available to International Development Association members to help them raise affordable funds to fight the pandemic. As of the end of June, AIIB approved a total of 13 projects amounting to over 5.5 billion U.S. dollars to help 11 members cope with the impact of the global health crisis. Source: Xinhua
IMF revises down forecast for Asian economy, warns of "clouds on the horizon"
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IMF revises down forecast for Asian economy, warns of "clouds on the horizon"
1 Jul 2020
The International Monetary Fund (IMF) on Tuesday revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6-percent contraction in 2020, and warning of "clouds on the horizon." The latest projection is a downgrade to the forecast of zero growth in the April World Economic Outlook (WEO), indicating stronger global headwinds as the pandemic's impacts continue to ripple throughout the world. "Projections for 2020 have been revised down for most of the countries in the (Asian) region due to weaker global conditions and more protracted containment measures in several emerging economies," Chang Yong Rhee, director of the IMF's Asia and Pacific Department, wrote in a blog post. Rhee noted that Asia's economic growth in the first quarter of 2020 was better than previously projected, partly owing to early stabilization of the virus in some countries. In the absence of a second wave of infections and with an unprecedented policy stimulus to support the recovery, growth in Asia is projected to rebound strongly to 6.6 percent in 2021, according to Rhee. "But even with this fast pickup in economic activity, output losses due to COVID-19 are likely to persist," he wrote. According to an update to April WEO released last week, the IMF revised down its forecast for the global economy, projecting a 4.9-percent contraction in 2020, 1.9 percentage points below the April forecast, followed by a growth of 5.4 percent in 2021. "The downgrade from April reflects worse than anticipated outcomes in the first half of this year, an expectation of more persistent social distancing into the second half of this year, and damage to supply potential," IMF Chief Economist Gita Gopinath said in a virtual news conference. Advanced economies are projected to contract 8 percent this year, and emerging markets and developing economies are projected to shrink by 3 percent this year, according to the updated report. China is expected to grow by 1 percent, the only major economy that could see growth this year, followed by an 8.2-percent growth in 2021. The IMF projects Asia's economic output in 2022 to be about 5 percent lower compared with the level predicted before the crisis, and this gap "will be much larger" if China is excluded, where economic activities have already started to rebound, Rhee said. The IMF official also noted that projections for 2021 and beyond assume a strong rebound in private demand, though there are "clouds on the horizon," which could undermine Asia's recovery. Such "clouds" include slower growth in trade, longer than expected lockdowns, rising inequality, weak balance sheets and geopolitical tensions. "Asia is heavily dependent on global supply chains and cannot grow while the whole world is suffering," Rhee said. "Asia's trade is expected to contract significantly due to weaker external demand." He added that reorienting Asia's growth model toward domestic demand and away from a heavy reliance on exports has begun but will take more time to be completed. Noting that not all recent developments have been negative, Rhee said many Asian countries have been able to provide significant monetary and fiscal policy support -- often in the form of guarantees and loans to households and firms. Additionally, lower oil prices and improved market sentiment and financial conditions are helping the recovery, he said, adding that these factors "may not last." "Asian countries are experimenting re-opening, and policies must be geared toward supporting the nascent recovery without exacerbating vulnerabilities," the IMF official said. "They must use fiscal stimulus wisely and complement it with economic reforms." The priorities, he argued, include close coordination between monetary and fiscal policies, ensuring resources are reallocated appropriately, as well as addressing inequalities. Inequality had already been rising in Asia, Rhee said, noting that IMF's recent research shows how past pandemics led to higher income inequality and hurt employment prospects of those with limited education. "These effects are likely to be exacerbated in Asia due to the large proportion of informal workers, making the recovery more protracted," he said. The IMF officials urged Asian policymakers to broaden access to health and basic services, finance, and the digital economy, and expand social safety nets to extend unemployment insurance coverage to informal workers. Addressing pervasive informality will also require comprehensive labor and product market reforms to improve the business environment and removing onerous legal and regulatory obstacles (especially for startups), and policies to rationale the tax system, he added. Source: Xinhua
Economic Watch: June PMI data points to accelerating recovery of Chinese economy amid policy stimulus
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Economic Watch: June PMI data points to accelerating recovery of Chinese economy amid policy stimulus
1 Jul 2020
China's factory and service activities continued to expand in June as a slew of supportive policies are taking effect, official data showed Tuesday. The purchasing managers' index (PMI) for China's manufacturing sector ticked up to 50.9 in June from 50.6 in May, the National Bureau of Statistics (NBS) said. A reading above 50 indicates expansion, while a reading below reflects contraction. Wen Bin, chief analyst at China Minsheng Bank, attributed the growth to the positive trend in nationwide epidemic control, improvements in both supply and demand and counter-cyclical adjustment policies that are paying off. China has been walking a fine line in balancing epidemic control and economic recovery, with targeted measures to help firms safely restart their businesses. The PMI for 14 of the 21 surveyed manufacturing sectors registered a reading above 50, an increase of five from last month, the data showed. The sub-index for production edged up 0.7 points to 53.9 in June. The sub-index for new orders picked up 0.5 points to 51.4, rising for two consecutive months. The PMI for large- and medium-sized enterprises stood at 52.1 and 50.2, respectively, while that for small firms slid 1.9 points to 48.9, indicating that for the time being smaller businesses are encountering difficulties, Wen said. As major global economies resumed business successively, external demand recovered but remained sluggish, with the sub-index measuring new export orders increasing 7.3 points to 42.6. The indices measuring raw material purchase prices and factory-gate prices rebounded by 5.2 and 3.7 points, respectively, both reaching the highest level in the past six months. Although the sub-index gauging firms' expectations for business activities slightly declined to 57.5, manufacturing firms remained sanguine about the market recovery in the near future, said NBS senior statistician Zhao Qinghe. Tuesday's data also showed that the PMI for the non-manufacturing sector rose 0.8 points to 54.4 in June, growing for the fourth straight month. In breakdown, the sub-index for business activities in the construction sector came in at 59.8, above 59 for three months in a row, and that for the service sector rose 1.1 points to 53.4. As the restoration of production and life orders accelerated, market confidence was enhanced and demands for the service sector kept growing, according to Zhao. Zhang Liqun, a researcher with the Development Research Center of the State Council, said the PMI expansion above the boom-bust line signals that the country's economic restoration is accelerating. However, some service industries are still facing difficulties in recovery, as the sub-indices for business activities in culture, sports and entertainment areas are below the 50-point mark, Zhao said. As the monetary and fiscal policies implemented earlier are taking effect, the performance of the manufacturing sector will be promising in the next half year, said Wu Chaoming, vice president of the research institute at Chasing Securities. Source: Xinhua
ICC world council elects new chair
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ICC world council elects new chair
25 Jun 2020
The International Chamber of Commerce (ICC), the institutional representative of 45 million companies in over 100 countries, has elected MasterCard CEO Ajay Banga as chair. Banga, who has served as ICC's first vice-chair since June 2018, becomes ICC Chair with immediate effect, succeeding Paul Polman who becomes ICC honorary chair, having served as chair for the past two years. Yassin Al Suroor, founder and the executive chairman of A'amal Group, was re-elected as vice chair. The election took place during the annual ICC World Council Meeting held through a virtual platform on June 23, the global business organisation based in Paris said in a statement. The chamber also elected Maria Fernanda Garza, CEO of Orestia and current board member, as ICC's first vice-chair, making her the first woman to hold this position. "I am delighted to step into the role of ICC chair, taking over from my friend Paul Polman," Banga said. "In this challenging time, I intend to build on the work underway at ICC and to ensure that the organisation, on behalf of business globally, continues to lead in promoting greater prosperity and opportunity for all, which includes being a crucial voice in the re-building of a sustainable and inclusive global economy." Source: The Daily Star
DRAFT letter from Chairman Lu to members of the SRCIC Board and to SRCIC members
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DRAFT letter from Chairman Lu to members of the SRCIC Board and to SRCIC members
14 May 2020
Dear friends and colleagues, We have all been living through an extraordinary time, for our families and friends, our businesses and partnerships. All of us have grieved for someone, family or friend and we have all been affected in many ways. The only consolation we have is that sometimes a crisis is needed to bring us together, to show us that though we live in different parts of the world we are really all the same. A virus such as the one unleashed over the past few months crosses all borders, affects all lives. We are at last beginning to see on the horizon signs that the ravages of this disease are coming to an end. We are starting to re-build again, our relationships, our businesses and most of all our hopes for the future. For the Silk Road Chamber of International Commerce, this worldwide crisis has been a heavy blow. The purpose of our existence has been challenged by closed borders, travel bans and other restrictions to trade, investment and business relationships. I am writing to assure you that our SRCIC is well and prepared to resume its job of bringing together the business communities along the Silk Roads. I am grateful for your support through these difficult times. The years ahead will be marked by this crisis. It will be more important than ever that business leaders use their talents, ambitions and their resources to support the development of a world where everyone can be a winner. The SRCIC will make every effort to assist our members to achieve that goal, and to make each one of you proud to be part of an international business community which remains committed to rebuilding a world economy which is based on multilateralism, open trade and investment, and addressing the challenges of a changing climate. I wish for everyone the best in the coming year, and I pledge myself and the SRCIC to walk with you on the difficult path of recovery and renewal. Chairman Lu Jianzhong
Stjepan Mesic:The Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation
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Stjepan Mesic:The Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation
7 May 2020
Chairman Lu (left) andStjepan Mesic Stjepan Mesic,former President of the Republic of Croatia and senior advisor to the SRCIC, wrote an articleThe Community with a Shared Future for Mankind Impact of the pandemic on the world and cooperation, in which he says China has provided valuable experience for other countries to fight the COVID-19. He also figures out thatsolidarity is the best way to cope with the challenges. The following is the full text of his article: The current coronavirus crisis hit the whole world and all countries acted too late to contain the spread of the virus. The coronavirus pandemic has affected more than two million people and is still spreading, causing immense human suffering and grave prospects for the global economy. And no country could be safe unless all countries are safe what is hardly possible without global, regional and national cooperation. If there is any lesson to be learned already now from the sanitary crisis, it should be that the world is globally connected and only national answer on the Covid - 19 will not solve the crisis nor prepare the world for next pandemic properly. The global response provides a logical way for respond to epidemics but in this hard time for people of the whole world it appears pretty undetermined and even uncertain. The USA, leading economy and military superpower, frozen its funds for the WHO that has been seen in many countries as an unappropriated attack on the global role of this organisation and weakening chances for global response on this unprecedented health crisis. America's soft power, that rests on the ability to shape the preferences of others, has been hardly hit with that move. In this pandemic America's moral authority and its global role has been strongly shaken by its own government. The WHO natural role is to take the lead in coordinating a national response and should be supported by all countries and by the United Nations. The Security Council members should act quickly and adopt approach that global pandemic may threaten international peace and stability how could the UN work on global response. In the situation when the United States Administration does not see its role as a work with other states and global institutions to develop a global plan and take responsibility for fighting the virus with the needs of its citizens and globally other global powers European Union, China and Russia should take global leadership supporting more openly the WHO and give it more financial resources. The European Union understand the WHO as an important global organisation in managing the corona crisis with strong credibility. Brusells reaction on the on-going coronavirus crisis has not been quick but slower and more gradual because never in its history the Union was faced with such kind of pandemic that should halting of its economy. In the first weeks of crisis Brusells has been criticised for lacking solidarity among member states and fragile health cooperation in slowing the spread of the virus but now the EU shows it has economic of financial capacity to respond to a crisis of such proportion. The covid -19, as well as bailout of Greece, has shown that division among north and south in Europe is present but this time eurozone policymakers decided to solve the crisis establishing the fund of 500 billion euros for 19 countries that use single currency. This is the greatest peacetime challenge to the EU that is deeply aware the pandemic needs a global response, global action and coordination that is vital for lives of people, for economy growth and for the world stability. China, that was first country hit by Cvid-19 strongly supports the WHO and the UN as a central organisation in defining global approach to the pandemic stressing that global cooperation is needed. China has helped many countries in the world with medical donation as well with its ability to organise production of vital medical equipment and export it though it had lockdown for three months in Wuhan. The global cooperation hardly could be implemented if order in the world in next decades will continue to be based on old pattern of power politics, unilateralism and weakening of global institutions. At the moment China is only country that have a concept of a shared destiny for humanity that could be useful in providing long term answer on challenge of the global pandemic to the world stability. Recently President of China Xi Jinping talked again about the concept with Secretary General of UN António Guterres who supported the common ideal and good pursuit of humankind, elevating the ideas of the common people in the world in a new historical period. China launched the concept of building community of human destiny in February 2017, in the UN, Geneva and the same year the 71st session of the UN General Assembly passed a resolution on "United Nations and global economic governance", incorporating China's concept of business process for building and sharing. Implementation of this concept could help the world to be structurally prepared to manage any future health crisis nationally, regionally and globally. Hope the international relations will be upgraded in that way that thinks about the interests of humanity not only about profit goals. Source: China-CEEC Think Tank Network
B.S. of E-Information Science and Technology Program(English Taught)
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B.S. of E-Information Science and Technology Program(English Taught)
17 Apr 2020
Bachelor of Science E-Information Science and Technology Taught in English NWU(China) and Essex(UK)Joint Collaborative Program Features of the Program ★English Taught program ★Joint CollaborativeProgram by NWU(China) &Essex(UK) ★Internationalized curriculum ★36% core courses by University of Essex ★Professional knowledge and multiple language skills ★International market needs based Main Courses 1.Group projects and practices 2.Digital System Design 3.Computer Security 4.Basic Network Knowledge 5.Fundamental Communication Knowledge 6.Advanced Embedded System Design 7.Advanced Logic System 8.Engineering Electro-magnetics 9.C Language Program Design and Embedded System 10.Digital Electronic System 11.Analog Circuit Design/Signal and System Degree and Credit Requirements Duration:Four years Credits:150 Degree:NWUBachelor of Science Tuition:23000RMB/Year Scholarship Available Xi'an City One Belt One Road International Students Scholarship Coverage of the scholarship: Tuition Application Deadline:JUNE30 2020 *Scholarship results will be determined by applicants'overall criteria. Click here to get more information about the scholarship Click here to download the scholarship application form Application Deadline:30th June 2020 Application Requirements 1. Applicant should be above 18 and under the age of 25, in good health; 2. Non-Chinese Citizens; 3. Applicant should have obtained a senior high school diploma or an equivalent diploma by the time of application; 4. Applicant should have a mastery of English language skills equal to TOEFL 50 or IELTS 5.0; 5. Applicant with Chinese language proficiency background is highly preferred. Application documents 1. Photocopy of passport and 2 passport-sized photos; 2.Photocopy of High school graduation certificate, this year's graduates can provide proof of graduation when apply (either in English or Chinese); 3. Photocopy of High school transcripts; 4.Photocopy of Chinese Language Proficiency Certificate; 5. Photocopy of English proficiency test (TOEFL or IELTS) transcripts; 6. Some students may be required to provide non-criminal record; 7.Application Form forXi'an City One Belt One Road International Students Scholarshipwith signature. Note: The application materials will not be returned disregard to successful admission or not. Certificates other than in Chinese or English language must be translated to Chinese or English by a legitimate notary authority. ApplicationProcedure 1.Complete online application athttp://nwu.17gz.org, print and sign the Application Form for Foreign Students to NWU 2.Email all the clear E-documents totonwu@nwu.edu.cn 3.Afterinternalreviewandevaluation,NWUwillconfirmwiththeshortlistedstudentsforfinalapproval 4. Mail all the documents toInternational Students Admission,School of International Education,Northwest University Brief Introduction of Essex Faculty Contact us Address: No. 229 North Taibai Avenue,Xi'an,Shaanxi, China,710069 International Students Admission,School of International Education,Northwest University,142 mailbox Tel: +86 -29 -88302373 +86-29-88302918 Fax: 0086-29-88303511 Email:tonwu@nwu.edu.cn crystalhe0917@163.com Website:http://www.nwu.edu.cn/ www.facebook.com/northwestuni Mr. Randy Dong QQ: 403958838 Ms. Crystal He Wechat: crystalhe0917 QQ:57668480
B.A. of International Economics and Trade Program (Taught in English)
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B.A. of International Economics and Trade Program (Taught in English)
16 Apr 2020
Program Introduction Duration:Four years Features of the Program Familiar with policies, rules and laws about international trade in China, and familiar with relative international conventions; Master theories and analysis methods of Economics and Management; Global view: Chinese Classroom, Multi-national Professors, Internationalized classmates; Multiple language skills: Wonderful English Skills+ Fluent Chinese Language; Various lectures related to up-to-date issues by world famous professors/ CEOs; Cultural and field trips to historic sites, corporations; Internship and Internship Visa available. Tuition and Costs:(CNY) Tuition: 22,000CNY/Year Dormitory Fees: Deposit:1000CNY/Person Intl. Building Type Double Room Triple Room Fee 3500CNY/Person/Semester6500CNY/Person/Year 2300CNY/Person/Semester4000CNY/Person/Year #8Building Type Double Room Triple Room Fee 1500CNY/Person/Semester2700CNY/Person/Year 1000CNY/Person/Semester1900CNY/Person/Year *Public shower, kithchen and bathrooms Scholarship Avaliable Xi'an City One Belt One Road International Students Scholarship Coverage of the Scholarship: Tuition Application Deadline:JUNE30 2020 Application Eligibilities: Be a citizen of a country from “One Belt One Road Initiative”, and be in good health; all the "One Belt One Road" countries are based on official website. ----https://www.yidaiyilu.gov.cn/ *Scholarship results will be determined by applicants'overall criteria. Click here to get more information about the scholarship Click here to download the scholarship application form Application Eligibility Applicant should be under the age of 25 and in good health; Applicant shouldhave obtained a senior high school diploma or an equivalent diploma by the time of application; English Proficiency Requirement (Except Native Speakers): TOEFL 50 or IELTS 5.0 Application Deadline:June 30th of each year Application Documents Application Form for Foreign Students to NWU with signature Application Form forXi'an City One Belt One Road International Students Scholarshipwith signature Copy of Passport Photopage Notarized highest diploma Academic transcripts NotarizedNon-criminal Recored The copy of valid English proficiency Certificates Foreigner Physical Examination Form Note:Documents in languages other than Chinese or English must be attached with notarized Chinese or English translations.Please provide valid email address. Application Procedure Complete online application athttp://nwu.17gz.org, print and sign the Application Form for Foreign Students to NWU; Email all the clear required E-documents to tonwu@nwu.edu.cn; After internal review and evaluation, International Students Admissions office will confirm with students for onlineINTERVIEW; Mail all the documents toInternational Students Admission,School of International Education,Northwest University;School of Intl. Education will send Admission Letters and JW202 Forms for the final confirmed students. Contact Us Address: No. 229 North Taibai Avenue,Xi'an,Shaanxi, China,710069 International Students Admission,School of International Education,Northwest University,142 mailbox Tel: +86 -29 -88302373 +86-29-88302918 Fax: 0086-29-88303511 Email:tonwu@nwu.edu.cn crystalhe0917@163.com Website:http://www.nwu.edu.cn/ Mr. Randy Dong QQ: 403958838 Ms. Crystal He Wechat: crystalhe0917 QQ:57668480
Medical products provided by enterprises of Turkmenistan
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Medical products provided by enterprises of Turkmenistan
16 Apr 2020
Xi'an sees more China-Europe rail-freight trips in H1
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Xi'an sees more China-Europe rail-freight trips in H1
3 Jul 2020
China-Europe freight trains to and from Xi'an, capital of northwest China's Shaanxi Province, made more than 1,600 trips in the first half of this year, almost double the figure for the same period last year, local authorities said Thursday. Together they carried more than 1.3 million tonnes of goods from January to the end of June, 1.9 times the volume of the first half of last year, according to the Xi'an International Trade & Logistics Park. Xi'an launched its first China-Europe freight train in 2013. Currently, the train service has 15 routes linking Xi'an with 44 cities in 14 countries, including Kazakhstan, Russia, Belgium and Germany. More than 5,000 types of goods, including automobiles, textile raw materials, household cleaners and personal care products, are transported by the freight trains. In recent years, Xi'an has gradually become a freight-transfer hub for many domestic cities. According to Sun Yimin, director of the administrative committee of Xi'an International Trade & Logistics Park, cargoes from 29 provincial-level regions, including Hubei, Anhui and Fujian, have come to Xi'an and been distributed overseas. Despite the COVID-19 epidemic, the trains are running smoothly, helping countries and regions along the Belt and Road to cope with the outbreak, stabilize trade and resume production. From January to May, more than 5,500 tonnes of anti-epidemic materials were transported via China-Europe freight trains from Xi'an to Central Asian and European countries, according to the China Railway Xi'an Group Co., Ltd. Source: Xinhua
China among high-performing financial inclusion countries in Asia: report
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China among high-performing financial inclusion countries in Asia: report
3 Jul 2020
China is among the high performers in terms of financial inclusion in Asian economies, according to an index launched by the Boao Forum for Asia (BFA). The "Asian Index of Financial Inclusion Ecosystem," unveiled on Thursday, is designed to evaluate the overall situation of the financial inclusion ecosystem of Asian sample countries, according to the BFA. High performers include China, Singapore, the Republic of Korea, the United Arab Emirates, Israel, Japan, Malaysia, Thailand, Bahrain, and Kazakhstan, said the BFA in a development report, released along with the index. Through continuous reform, China has built up a diversified and widely-covered financial inclusion institutional system, said Zhou Xiaochuan, BFA vice chairman and former governor of China's central bank. Zhou suggested that Asian countries can strengthen cross-country comparisons and exchange of experiences, deepen understanding of financial inclusion, and promote best practices. More efforts need to be made to keep financial institutions, which originate from and serve the grassroots, viable and sustainable to provide a broad spectrum of financial services to small and medium-sized enterprises, and vulnerable groups, he said. The BFA report highlighted practices such as China's efforts in developing financial inclusions from the aspects of national strategy, monetary credit supply, fiscal and tax policies, governance framework, and institutional capacity, as well as the experience of Mongolia and the Republic of Korea in promoting financial literacy, insurance awareness, and the protection of people. The report also put forward policy recommendations, including building a healthy digital financial inclusion ecosystem, and making good use of regional and global cooperation initiatives, such as the Belt and Road Initiative, to achieve common growth. Source: Xinhua
Outbound investment to BRI countries becomes a new growth area
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Outbound investment to BRI countries becomes a new growth area
2 Jul 2020
Clouds fill the sky at Marina Bay in Singapore on Dec 20, 2019. [Photo/Agencies] The countries and regions involved in the Belt and Road Initiative have become a new growth area for China's outbound direct investment, according to a report released by the Chinese Academy of Sciences on Monday. Last year, China's non-financial direct investment to those countries and regions involved in the Belt and Road Initiative reached $15.04 billion, accounting for 13.6 percent of the total investment, while the brick-and-mortar projects were worth $154.89 billion, accounting for 59.5 percent of the total, said the latest Report of Country Risk of Overseas Investment from China. The investment risk in the emerging economies is relatively higher than in the advanced economies, but the emerging economies remain the most promising destination for China's overseas investment. Furthermore, the average investment risk in the countries and regions involved in the Belt and Road Initiative is lower than in the overall risk, the annual report said. The report rated 114 countries with 18 countries at a low risk level, 68 at a moderate risk level, and 28 at a high risk level. Singapore took the first spot among the countries and regions involved in the Belt and Road Initiative to attract the most investment from China, and it is also a country with a low investment risk. From 2019, the intensifying trade conflict and increasingly tense geopolitical environment have aggravated uncertainties for international direct investment and international cooperation in the future, and the COVID-19 pandemic left many countries facing crises involving threats to public health, the domestic economy, external demand, commodity prices and capital flow. Although some countries have implemented supportive fiscal policies, and also monetary policies to ease the tension in financial markets, moderate risk will continue to dominate the economic outlook, said Wang Bijun, an associate research fellow at the Institute of World Economics and Politics, Chinese Academy of Social Sciences. The reported noted that, among advanced economies, the investment risk in the US, Canada, New Zealand and the UK saw an increase in 2020 compared to 2019. By the end of 2018, more than 27,000 Chinese domestic investors had set up 43,000 enterprises for overseas investment in 188 countries and regions, and over 80 percent of the world's countries and regions have Chinese investment, said the report. Source: China Daily
AIIB approves 7.3-mln-USD loan to support Maldives COVID-19 response
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AIIB approves 7.3-mln-USD loan to support Maldives COVID-19 response
2 Jul 2020
The Asian Infrastructure Investment Bank (AIIB) said Wednesday that its board of directors had approved a 7.3-million-U.S.-dollar loan to the Maldives to strengthen the country's health response to the COVID-19 pandemic. Co-financed by the World Bank, the project will enable the government to provide more personal protective equipment to medical professionals and strengthen health systems through stepped up testing capabilities, the AIIB said. This is AIIB's first project financing in the Maldives. "AIIB is strongly committed to ensuring that the government has the necessary resources and capacity to protect the most vulnerable in the country," said AIIB Vice President, Investment Operations, D.J. Pandian. The socioeconomic impact on the archipelago nation remains uncertain given its dependence on the international tourism market, with most of the country's tax and non-tax revenues originating directly or indirectly from tourism, according to the bank. The project was approved under a new Special Fund Window (SFW) as part of AIIB's COVID-19 Crisis Recovery Facility. AIIB's SFW is only available to International Development Association members to help them raise affordable funds to fight the pandemic. As of the end of June, AIIB approved a total of 13 projects amounting to over 5.5 billion U.S. dollars to help 11 members cope with the impact of the global health crisis. Source: Xinhua
IMF revises down forecast for Asian economy, warns of "clouds on the horizon"
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IMF revises down forecast for Asian economy, warns of "clouds on the horizon"
1 Jul 2020
The International Monetary Fund (IMF) on Tuesday revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6-percent contraction in 2020, and warning of "clouds on the horizon." The latest projection is a downgrade to the forecast of zero growth in the April World Economic Outlook (WEO), indicating stronger global headwinds as the pandemic's impacts continue to ripple throughout the world. "Projections for 2020 have been revised down for most of the countries in the (Asian) region due to weaker global conditions and more protracted containment measures in several emerging economies," Chang Yong Rhee, director of the IMF's Asia and Pacific Department, wrote in a blog post. Rhee noted that Asia's economic growth in the first quarter of 2020 was better than previously projected, partly owing to early stabilization of the virus in some countries. In the absence of a second wave of infections and with an unprecedented policy stimulus to support the recovery, growth in Asia is projected to rebound strongly to 6.6 percent in 2021, according to Rhee. "But even with this fast pickup in economic activity, output losses due to COVID-19 are likely to persist," he wrote. According to an update to April WEO released last week, the IMF revised down its forecast for the global economy, projecting a 4.9-percent contraction in 2020, 1.9 percentage points below the April forecast, followed by a growth of 5.4 percent in 2021. "The downgrade from April reflects worse than anticipated outcomes in the first half of this year, an expectation of more persistent social distancing into the second half of this year, and damage to supply potential," IMF Chief Economist Gita Gopinath said in a virtual news conference. Advanced economies are projected to contract 8 percent this year, and emerging markets and developing economies are projected to shrink by 3 percent this year, according to the updated report. China is expected to grow by 1 percent, the only major economy that could see growth this year, followed by an 8.2-percent growth in 2021. The IMF projects Asia's economic output in 2022 to be about 5 percent lower compared with the level predicted before the crisis, and this gap "will be much larger" if China is excluded, where economic activities have already started to rebound, Rhee said. The IMF official also noted that projections for 2021 and beyond assume a strong rebound in private demand, though there are "clouds on the horizon," which could undermine Asia's recovery. Such "clouds" include slower growth in trade, longer than expected lockdowns, rising inequality, weak balance sheets and geopolitical tensions. "Asia is heavily dependent on global supply chains and cannot grow while the whole world is suffering," Rhee said. "Asia's trade is expected to contract significantly due to weaker external demand." He added that reorienting Asia's growth model toward domestic demand and away from a heavy reliance on exports has begun but will take more time to be completed. Noting that not all recent developments have been negative, Rhee said many Asian countries have been able to provide significant monetary and fiscal policy support -- often in the form of guarantees and loans to households and firms. Additionally, lower oil prices and improved market sentiment and financial conditions are helping the recovery, he said, adding that these factors "may not last." "Asian countries are experimenting re-opening, and policies must be geared toward supporting the nascent recovery without exacerbating vulnerabilities," the IMF official said. "They must use fiscal stimulus wisely and complement it with economic reforms." The priorities, he argued, include close coordination between monetary and fiscal policies, ensuring resources are reallocated appropriately, as well as addressing inequalities. Inequality had already been rising in Asia, Rhee said, noting that IMF's recent research shows how past pandemics led to higher income inequality and hurt employment prospects of those with limited education. "These effects are likely to be exacerbated in Asia due to the large proportion of informal workers, making the recovery more protracted," he said. The IMF officials urged Asian policymakers to broaden access to health and basic services, finance, and the digital economy, and expand social safety nets to extend unemployment insurance coverage to informal workers. Addressing pervasive informality will also require comprehensive labor and product market reforms to improve the business environment and removing onerous legal and regulatory obstacles (especially for startups), and policies to rationale the tax system, he added. Source: Xinhua
Economic Watch: June PMI data points to accelerating recovery of Chinese economy amid policy stimulus
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Economic Watch: June PMI data points to accelerating recovery of Chinese economy amid policy stimulus
1 Jul 2020
China's factory and service activities continued to expand in June as a slew of supportive policies are taking effect, official data showed Tuesday. The purchasing managers' index (PMI) for China's manufacturing sector ticked up to 50.9 in June from 50.6 in May, the National Bureau of Statistics (NBS) said. A reading above 50 indicates expansion, while a reading below reflects contraction. Wen Bin, chief analyst at China Minsheng Bank, attributed the growth to the positive trend in nationwide epidemic control, improvements in both supply and demand and counter-cyclical adjustment policies that are paying off. China has been walking a fine line in balancing epidemic control and economic recovery, with targeted measures to help firms safely restart their businesses. The PMI for 14 of the 21 surveyed manufacturing sectors registered a reading above 50, an increase of five from last month, the data showed. The sub-index for production edged up 0.7 points to 53.9 in June. The sub-index for new orders picked up 0.5 points to 51.4, rising for two consecutive months. The PMI for large- and medium-sized enterprises stood at 52.1 and 50.2, respectively, while that for small firms slid 1.9 points to 48.9, indicating that for the time being smaller businesses are encountering difficulties, Wen said. As major global economies resumed business successively, external demand recovered but remained sluggish, with the sub-index measuring new export orders increasing 7.3 points to 42.6. The indices measuring raw material purchase prices and factory-gate prices rebounded by 5.2 and 3.7 points, respectively, both reaching the highest level in the past six months. Although the sub-index gauging firms' expectations for business activities slightly declined to 57.5, manufacturing firms remained sanguine about the market recovery in the near future, said NBS senior statistician Zhao Qinghe. Tuesday's data also showed that the PMI for the non-manufacturing sector rose 0.8 points to 54.4 in June, growing for the fourth straight month. In breakdown, the sub-index for business activities in the construction sector came in at 59.8, above 59 for three months in a row, and that for the service sector rose 1.1 points to 53.4. As the restoration of production and life orders accelerated, market confidence was enhanced and demands for the service sector kept growing, according to Zhao. Zhang Liqun, a researcher with the Development Research Center of the State Council, said the PMI expansion above the boom-bust line signals that the country's economic restoration is accelerating. However, some service industries are still facing difficulties in recovery, as the sub-indices for business activities in culture, sports and entertainment areas are below the 50-point mark, Zhao said. As the monetary and fiscal policies implemented earlier are taking effect, the performance of the manufacturing sector will be promising in the next half year, said Wu Chaoming, vice president of the research institute at Chasing Securities. Source: Xinhua
China and the global COVID-19 economy:Daryl Guppy
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China and the global COVID-19 economy:Daryl Guppy
23 Jun 2020
Adolfo Suarez-Barajas International Airport on the outskirts of Madrid, Spain, June 21, 2020. /AP Editor's note: Daryl Guppy is an international financial technical analysis expert. He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's opinion, and not necessarily the views of CGTN. The ongoing situation has economic consequences, and once the markets recover, all will be right with the world. It's a comforting thought that ignores the nature of COVID-19. The COVID-19 crisis is not an economic crisis. It's a health crisis, and that is something very different from an investment perspective. The most important feature of the crisis is the difference in health responses. This issue was highlighted during my panel discussion with John Ross, former director of economic and business policy of London, at the Renmin University Global Think Tanks COVID-19 International Cooperation Forum. China, most of Asia, Singapore, Australia and New Zealand have attempted to suppress and aggressively control the spread of COVID-19. They used intensive tracking and testing coupled with very strong quarantine lockdown and isolation strategies. The total lockdown of Wuhan, a city with a population larger than that of Australia, is an example of this approach, as is the South Korean response. In contrast, the Swedes applied the most clearly acknowledged strategy of herd immunity. Put crudely, this means the disease is able to run freely through the community so the survivors develop immunity. This is suitable for managing the spread of a seasonal flu, but this approach has resulted in very high mortality rates when applied to the management of COVID-19. By design or by accident, the herd immunity approach has been adopted by the United States, the UK and much of Europe. This may be a result of reckless indifference, as may be the case in the United States, or poor health systems, as in the UK. In either case, the impact is the same with a high mortality rate and a continuing large reservoir of infected people. This is the nub of the problem when considering the establishment of global trade activity. It's easy for each country to re-establish its domestic economy but the real problems come when a country with a COVID-19 containment approach wants to interact with a country with a COVID-19 herd immunity approach. Each one of their tourists, each shipment from that country, every movement of people for whatever reason, carries personnel who threaten to reignite COVID-19 in the countries which have it under control. The Australian situation is a precursor example of the dilemma. Australia's largest single source of coronavirus infections and of at least 22 deaths came from passengers on a single ship, the Ruby Princess. This shows how a single source of infection can threaten the success of the entire containment policy. A house displays a sign stating that it is available for rent during the lockdown to help curb the spread of the new coronavirus, Antigua, Guatemala, June 21, 2020. /AP Every day under normal circumstances, hundreds of ships are loaded or unloaded in the port of Singapore, Shanghai or Sydney. There is inevitable close interaction between customs staff, agents, stevedores and crew members. The risk of infection stemming from herd immunity countries is high. The modern economy relies on the movement of people, be they tourists, fee-paying students or business people. The movement is channeled through airports where foot traffic is high and deliberately compressed so the passenger dwell time for shopping is enhanced. Support staff in all positions from check-in to immigration and retail are in inevitable close contacts despite enhanced self-check in procedures. The risk of infection from herd immunity countries is high. The suggested COVID-19-free passport is an inadequate solution to this difference in health strategies. The passport could only be issued to people who have contracted COVID-19 and recovered. In countries where COVID-19 has been successfully suppressed there are very few people who qualify for the COVID-19-free passport because they have not been infected. This classic Catch-22 does nothing to free up people exchanges between herd immunity and COVID-19 containment camps. This division in COVID-19 health management approaches applies a greater constraint and risk to the resumption of international trade in all its forms than is realized at first glance. For countries with COVID-19 containment approach there can be no return to the laissez-faire of international trade. The long-term investment and economic impacts are substantial. Border security has involved the management of illegal immigration but now its long-term policy focus will include the management of COVID-19 infection. COVID-19 responses in some countries have increased demands for a decoupling from China. This brings its own range of economic adjustments which are reasonably well understood. However, pressure to decouple from China takes on a new health dimension because COVID-19 containment countries may prefer to concentrate their trade with countries that have a like-minded COVID-19 containment approach. The risk associated with trade and people-to-people movement from herd immunity countries may pose too large a health and economic risk to enable a return to previous trade levels, let alone to increase trade as a substitute for reducing trade with China. The proposed travel-bubbles between countries with demonstrated success in suppressing COVID-19 may provide a more realistic model for trade and business relations than the idea that global trade will quickly return to normal. Smart investors are beginning to factor in these trade restrictions when making investment decisions. Ultimately the choice between trade and COVID-19 management models and infection risk will be a new and important consideration in the post-COVID-19 structure of the international economic recovery. Source: CGTN
Stabilizing the economic impact of COVID-19: Daryl Guppy
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Stabilizing the economic impact of COVID-19: Daryl Guppy
11 Jun 2020
Editor's note:Daryl Guppy is an international financial technical analysis expert.He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's opinion, and not necessarily the views of CGTN. A mixed approach to stabilizing the post-COVID-19 global economy threatens effective recovery. The potential outcome of the post-COVID-19 recovery can either yield the benefits of globalization or accelerate the deconstruction of globalization, replacing it with a new type of cold war built around protectionist sovereign economics. For some, the COVID-19 crisis has highlighted an over-dependency on China in supply chains and this furthers the anti-globalization calls. For others, COVID-19 solutions cry out for enhanced international co-operation, including the provisions of vaccines as a global public good. The Belt and Road Initiative (BRI) plays a central role in this globalized approach as a tool for preventing this division and enhancing cooperation and economic stability. The first step is ongoing support for multi-lateral organizations. There is room for improvement, but there is no reason for abandoning these organizations. Greater support and an increased role for China in the discussions that frame the COVID-19 recovery economy are important if lasting economic stability is to be achieved. This calls for the accelerated expansion of the BRI particularly in the areas of poverty alleviation and capital market access. The alleviation of poverty is the foundation of economic growth and it underpins the development of new markets. Ongoing measures to alleviate poverty are the driving force behind economic stability. A moratorium on sovereign debt and access to the International Monetary Fund (IMF) Special Drawing Rights for developing economies are two immediate steps. China has agreed to a debt moratorium to assist with economic stabilization. However, the use of SDR for this purpose by the IMF has been blocked by the United States. This signals a need to develop a broader range of alliances with middle power groupings to support China's greater involvement in world forums. Although inclusion in G7 and G8 is self evident, the ranks are closed at the behest of the United States. A wider coalition of middle range powers is required to apply pressure to change this. The further opening of China's capital markets can be accelerated as a means of enhancing global economic stability. Capital is agnostic and it flows around obstacles in its quest for economic stability and returns. Increasing the attractiveness of China's capital markets provides an alternative to the current irrational exuberance of U.S. financial markets where the rising indexes do not reflect the reality of economic destruction. When the market snaps-back to economic reality then the economic impact may be more destabilizing because of the capital destruction. A strong, stable, capital market alternative is a key component of post-COVID-19 global economic stability. Workers load cargo on March 9 at the port of Nantong in the eastern province of Jiangsu. /VCG Business and business organizations like the Silk Road Chambers of International Commerce have an increasingly important role to play. They are in the best position to identify the costs of economic separation for the economy and consumers. These initiatives, and others like them, help to stabilize the global economy. However, there is no guarantee that other countries will follow these leads so we must also consider some options if this so-called "cold war" style economic division develops. How can we live with this division without engaging in a destructive anti-globalization trade war? The BRI provides a counterbalance to anti-globalization by acting as a bulwark against the fragmentation and destabilization of global trading systems. It is incorrect to assume that in a bi-polar economic world that China would be at a disadvantage because this is no "cold war" waged against a much poorer protagonist. We live with the destruction of global trade and its consequent global instability by reducing the vulnerability to the dollarized economy. This includes developing alternative trade settlement and cross border transaction processes that do not rely on the U.S. dominated SWIFT settlement system.The China Sovereign digital currency is part of this solution because it enhances and enables cooperation. We live with global economic instability by creating an island of stability. This includes a more open economy to attract capital, along with programs and initiatives to alleviate poverty and the reduction of the debt burden on underdeveloped and emerging economies. If these remedies are left to China alone then it requires a further development of the BRI. In the interest of global economic stability, the BRI should always remain open to those economies which have mistakenly strayed down the anti-globalization path. The BRI and its constellation of policies stand at the center of China's contribution to stabilizing the global economy. Accepted by all, or rejected by some, there is no question that China has a major role to play in the post-COVID-19 recovery. Source: CGTN
China's BRI not about power and conquest, but trade:Daryl Guppy
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China's BRI not about power and conquest, but trade:Daryl Guppy
5 Jun 2020
Editor's note: Daryl Guppy is an international financial technical analysis expert.He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's opinion, and not necessarily the views of CGTN. Getting involved with China's Belt and Road Initiative (BRI) is described by some politicians and media as "ill-advised" because it is all about China's "growing territorial ambitions" with its focus on infrastructure. This characterization is both ill-informed and the Western obsession with the infrastructure component is inaccurate, so it is worth taking the time to refresh the understanding of the BRI. The poor level of analysis is also demonstrated by confusion about how the "Road" component relates to sea lanes. Every mariner knows the "roads" are deep-water safe harbors where ships wait to unload cargo. At its core, the BRI policy is a global market concept. It is not a treaty, nor a trade agreement. It is a standard of agreed trade protocols and processes for cross border transactions. The BRI is meant to provide China with alternatives without reducing its support for the current order. This is not a repeat of the Cold War with the former Soviet Union because even at its height, the Soviet Union could not lay claim to any significant economic clout. China is a global economic power and its attention is primarily focused on trade relationships. There are four dimensions of the BRI: A. Physical infrastructure. It facilitates the growth of trade. High speed rail connections are a key component because they open up new areas in Asia and Central Asia. Better roads and bridges are also essential to trade development. This physical infrastructure also includes ports. Western commentary has a strong focus on this infrastructure build because it suspects it has a military purpose, and they class this as a threat. B. Trade infrastructure. It is perhaps more important than roads and bridges. This includes the removal of trade barriers and standardization of trade regulation. Trade settlement processes are an essential enabler of trade. China is leading the way in many areas, such as blockchain customs clearances. Despite this, China supports the WTO as the primary mechanism for resolving trade disputes. C. Soft infrastructure. It is essential because it deals with payment systems and protocols. This is an essential ecosystem that includes a broader application of block chain certification not just for payments, but also in fighting product substitution. Countries joining the BRI will participate in a harmonized set of trade and trade settlement standards that will make cross border trade more efficient. D. Capital infrastructure.Currency integration is a precursor to the growth of China capital markets. Further opening of the capital account, debt markets and the liberalization of investment conditions are part of this process. More recently this has included the application of a China Digital Currency which stops trade being held hostage to the U.S. dominated SWIFT currency transfer system. Chinese container ship Cosco at the Panama Canals' Cocoli Locks, Panama, December 3, 2018. /AP At its core the BRI has the concepts of shared prosperity that recognize and accept the diversity of political structures. These concepts sound insincere to Western ears, accustomed as they are to the Machiavellian idea that all foreign relations are about power, conquest and submission. Some observers have significant concerns about aspects of the BRI, but this often rests on a one-dimensional view most often projected by military and security agencies.More informed engagement with the BRI is essential. The first step is to acknowledge the legitimacy of the BRI policy. This is a major policy initiative. China is the world's second-largest economy and like large economies before it, China feels the need to engage the world community across wider dimensions than it has in the past. Governments need to establish mechanisms to understand the BRI, to monitor its development and its progress. Western countries understand U.S. policy in fine detail and considerable multi-agency resources are directed towards this end. The same level of engagement should be applied to understanding the BRI so governments can respond in a more informed manner to policy developments. Engagement includes regular international forums to discuss the BRI, to evaluate its progress, to raise concerns and to identify areas of co-operation. This could be made a formal part of the existing leadership dialogues with China's inclusion in an expanded G7 or G8. The BRI is a significant and developing complex of policies and it requires an adjustment of thinking around foreign and trade policy. It makes for a poor policy environment when the BRI is viewed mainly through a security and military lens where it's worked into a narrative about China and the South China Sea, and unease about China's global ambitions. The broad and widespread impact of BRI policies on cross-border trade, e-commerce, operational systems, regulatory structures and trade relationships demand that countries create a role for themselves within BRI discussions. At times business organizations like the Silk Road Chambers of International Commerce and others will be required to lead the way for politicians to provide a platform that enables countries to lift the China relationship to a more sophisticated level. This is the key choice for some countries, which can continue to mischaracterize the BRI, or they can develop an informed understanding and discussion to engage with the real BRI. (Cover image: The COSCO Wellington cargo vessel with containers is moored at Gwadar port, Pakistan, November 13, 2016. /Xinhua) Source: CGTN
Greece-China cooperation under BRI will progress despite COVID-19 pandemic: officials, experts
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Greece-China cooperation under BRI will progress despite COVID-19 pandemic: officials, experts
30 May 2020
Aerial photo taken on Jan. 16, 2019 shows the Piraeus port, Greece. (Xinhua/Wu Lu) "I said from the first moment this crisis broke out that we will not allow COVID-19 to harm Greece-China relations," said Adonis Georgiadis, Minister of Development and Investment. ATHENS, May 29 (Xinhua) -- After the initial shock of the COVID-19 pandemic, China reiterated during the just-concluded "Two Sessions" its determination to further increase trade and investment ties with countries participating in the Belt and Road Initiative (BRI). Greek officials, experts and entrepreneurs told Xinhua here in recent interviews that Greece-China cooperation under the BRI will undoubtedly progress with strong momentum to the benefit of both sides. "I said from the first moment this crisis broke out that we will not allow COVID-19 to harm Greece-China relations," Adonis Georgiadis, Minister of Development and Investment, wrote in a written statement to Xinhua. "We believe in the ties between the two countries. We appreciate China as a true friend of Greece and a significant investor in our country... All our investment plans continue normally, and we are waiting for our Chinese friends to continue with even greater momentum," he noted. The Greek minister also expressed his admiration for the way in which the Chinese government has dealt with the pandemic, stressing that this global crisis affects all of humanity regardless of race, nationality or religion, and that "all together humanity will move forward." China's COSCO Shipping Taurus docks at Piraeus port, Greece, Feb. 26, 2018. (Xinhua/Marios Lolos) Nicolas A. Vernicos, vice chair of the Silk Road Chamber of International Commerce, and Fotis Provatas, chairman of the Chamber of Greek-Chinese Economic Cooperation, highlighted the success of the flagship investment project of China's COSCO Shipping in Piraeus, Greece's largest port, over the past decade, saying they were confident that Greece and China will take further steps to boost bilateral economic cooperation. The image of the Port of Piraeus has improved drastically in recent years through a series of upgrades that continue this year despite the novel coronavirus challenge. In the framework of China's new Maritime Silk Road project under the BRI, Greece and the Port of Piraeus -- which under Chinese management has become the largest container port in the Mediterranean -- provide a secure hub for Chinese traders and investors in the countries of the central, southern and eastern Europe as well as in the countries of the Mediterranean, Vernicos and Provatas noted. "Now is the appropriate moment for China and Greece to bolster their trade and investment cooperation in order to win back the time lost during the pandemic," the two entrepreneurs agreed. "We are working intensively to create a great 'Mediterranean Silk Road Alliance' in our region that will unite the most active entrepreneurial organizations in our broader area to support, enforce and guarantee the BRI's development policies," they said. Vasilis Trigkas, research fellow at the Belt & Road Strategy Centre at China's Tsinghua University, was also confident that the BRI will move forward to the benefit of all its participants. Photo taken on Nov. 7, 2019 shows the Piraeus Port in Greece. (Xinhua/Fei Maohua) Asked about the state of Sino-Greek collaboration today, he highlighted the great potential in the tourism sector, a pillar in the Greek economy. The sector, which helped pull Greece out of the bailouts era in the past decade, has suffered a significant blow this year due to the pandemic. The summer season will start with a delay and the country will most likely not manage to break a new record for arrivals, as it did in previous years. Considering that both China and Greece have managed to limit the scale of the pandemic within their territories, there is a great opportunity for Chinese tourists to make Greece their No.1 summer destination, especially since Greece will be the safest destination in Europe, Trigkas stressed. Fanis Soulis, a tour operator who over the past eight years has been living and working in Beijing and continues to help enhance bilateral cooperation in tourism, has no doubt that this is a great opportunity for both sides. "China has been the world's largest market in outbound tourism since 2012, growing at a fast rate over the last decades. As a tourism professional working in China for many years, I can reassure you that the majority of Chinese travelers favor and think highly of Greece as a tourism destination," he told Xinhua. In order to make the most of this opportunity, Soulis suggested that Greece should modify its planning and operational model when it comes to attracting and welcoming Chinese travelers. He proposed, for example, more promotional campaigns targeting Chinese travelers' special needs and introducing lesser-known destinations across Greece. Source: Xinhua
Star of May--Ukrainian Chamber of Commerce and Industry
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Star of May--Ukrainian Chamber of Commerce and Industry
19 May 2020
Introduction The Ukrainian Chamber of Commerce and Industry is a non-governmental, non-profit, self-governing organization which unites legal entities and citizens of Ukraine, registered as entrepreneurs, and also their associations, on a voluntary basis. We are an organization which successfully unites traditions and innovations in its activity. The development of the Chamber movement in independent Ukraine was marked by the passing of the Law«On chambers of commerce and industry in Ukraine» on December 2, 1997.In the years of its existence the system of chambers of commerce and industry proved its effectiveness in business support. The central UCCI and 25 regional CCIs are part of the regional structure of the chambers of commerce and industry. Today the system of Chambers unites over 8 thousand members. Over 1000 representatives of business from all parts of our country receive daily professional consultations and help from experts of chambers of commerce and industry in different directions. The Chambers provide practical help to entrepreneurs in carrying out trade and economic operations on inner and outer markets, promote the development of export of Ukrainian goods and services, for which they provide their members a wide spectrum of professional services, including consultations on issues of foreign trade and market evaluation, carry out independent expertise of goods, evaluatepersonal and real estate, non-material activities, provide services of barcoding goods, patent and licensing services, registration of documentation with the goal to provide protection of rights for intellectual property, etc. The Chamber provides Ukrainian and foreign entrepreneurs with business, legal information, organizes seminars, conferences, exhibitions in Ukraine and abroad, provides business negotiations on economic issues, provides a line of other services for business activity. The UCCI has representatives in 23 countries, has signed 91 international agreements of cooperation with foreign partnership organizations. The UCCI is the founder and coordinator of 34 bilateral business councils. It is a member of the International Chamber of Commerce, the World Chambers Federation and Eurochambres. Recent events During the critical period of China's fight against COVID-19, SRCIC member, the Ukrainian Chamber of Commerce and Industry (UCCI), donated 100,000 surgical masks to China for support in joint effort with the Ukrainian-China chamber organizations. Exchanges and communication December 9 to 10 of 2016, UCCI Vice President Valeriy Korol attended the Development Cooperation Forum on International Industrial Parks &Discussion on Silk Road International Culture Week held in Xi'an. On December 10 of 2017, Mr. Valeriy Korol, on behalf of UCCI, was present at the series activities for the 2nd anniversary celebration of SRCIC in Beijing. On December 18 to 22 of 2017, Jemal Inaishvili, SRCIC Honorary Chairman, led a business delegation of China West Airport Group and SRCIC to Ukraine for project cooperation. During the visit, the delegation paid a special visit to UCCI President Mr. Chyzhykov. The two sides held discussions on cooperation in airport, agriculture and other fields.
Daryl Guppy: Rules for the West but not the rest
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Daryl Guppy: Rules for the West but not the rest
15 May 2020
Chinese and Australian national flags are seen at an event in Sydney, Australia, September 8, 2019. /Xinhua Editor's note:Daryl Guppy is an international financial technical analysis expert.He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's opinion, and not necessarily the views of CGTN. Lord MacCartney was infamously told by Emperor Qianlong that China had no need of the inferior trade goods offered by the English delegation. More than 200 years later, it seems that some Western countries continue to make the same mistakes as MacCartney, believing that they and their goods are indispensable to China. Australia is the latest example of this attitude so it's useful to examine this from a broader perspective because it provides an insight into developing trade environments where attitudes have been hardened by COVID-19 responses. At the foundation of these attitudes is the idea that a country like Australia is indispensable to China's prosperity. This indispensability means it's OK to ignore Chinese laws and to scold China safely on the assumption that it will not react. Duplicating the behavior of the Western powers in the mid-19th century, Australia is surprised, even shocked, when China dares to show its independence. This independence is interpreted by some Western media as a "punishment," but it is more likely to be a dismissive move by China that recognizes the real, rather than imagined, status of Australia in the relationship. The first example of these attitudes is the use of the WTO dumping provisions. Australia is one of the world's largest users of WTO anti-dumping measures. Australia uses a "constructed costs" calculation to determine if the goods are "dumped" or sold below production cost. The Australian Productivity Commission has regularly chastised the Australian government for imposing anti-dumping duties of up to 144 percent on Chinese steel and aluminum, saying last month there was "no convincing justifications for these measures." Now China has applied a similar yardstick to its WTO complaint about Australian barley producers "dumping" barley in the Chinese market. China applied its own "constructed costs" formula to determine if barley had been sold below production cost. Australia has been hoisted by its own petard – damaged by its own attack – and it's an uncomfortable feeling. The second example comes from the reaction to China's suspension of imports from four major Australian beef suppliers over what the Australian trade minister called "minor technical" breaches related to Chinese health and labeling certificate requirements which in some cases, date back more than a year. Chinese Ministry of Foreign Affairs spokesman Zhao Lijian said China imposed the ban when state customs authorities found products exported by Australian companies continued to violate quarantine and customs requirements jointly agreed to by Australia and China. Australian Prime Minister Scott Morrison (R) and Chief Medical Officer Brendan Murphy attend a press conference at the Parliament House in Canberra, Australia, May 8, 2020. /Xinhua Australia, with perhaps the toughest quarantine country in the world, is no stranger to reacting strongly to even "minor technical" breaches of quarantine and food labeling laws but is reluctant to acknowledge that others have the same concerns. Food safety, food standards and incorrect or counterfeit labeling are also hot-button topics in China, so a strong reaction is not unexpected. The Australian Agriculture Minister said the beef suspension was a lesson for exporters about meeting other countries' import standards but his was a lonely voice buried under the media and political outcry at this unfair Chinese "punishment" of Australia. The myth of indispensability is dispelled by anyone who has attended the China International Import Expo in Shanghai. They are acutely aware of the many competitors for every single commodity, service and item that, in this case, Australia wishes to export to China. Just a few Australian politicians have attended these trade fairs, so they incorrectly believe the myth that China is desperate for Australian goods and services. The decision, after 12 months, to foreshadow anti-dumping tariffs on Australian barley is a reminder that China is not dependent on Australia. It's a reminder that WTO rules apply to all and can be used by all. It is a reminder that for 5,000 years China managed its land and sea borders by using trade (often termed "tribute") in a sophisticated global diplomacy and trade network. Australia is but a current example of this particular attitude that China has an obligation to trade with others. So what do we learn from this situation that smacks of one rule for the West and another rule for the rest? We learn that China has trade choices and the sovereign right to exercise those choices. We learn that China works within the WTO framework to resolve trade disputes and that it uses the same methods and processes as used by Western member countries. We learn that China is not dependent upon a single source of supply and that like the United States and others, it seeks to diversify its trade and supply chains to reduce its dependency on a single source. Most disappointingly, we learn that for many Westerners, attitudes towards China have not fundamentally changed in 200 years. Changing these outdated attitudes starts at business level by sending clear and effective messages to government about trade in a China environment. Business must also work with local business associations and international associations like the Silk Road Chamber of International Commerce to educate others about appropriate practices and attitudes. Disrespectful megaphone diplomacy cannot be allowed to override quieter and more effective diplomacy based on mutual respect that delivers reasonable benefits for all. Source: CGTN
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