Economic Watch: China's foreign trade maintains robust growth, reports improved quality
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Economic Watch: China's foreign trade maintains robust growth, reports improved quality
15 Oct 2021
China's foreign trade maintained robust growth with strong resilience and improved quality in the first three quarters of the year, backed by the country's steady economic development. China's total imports and exports expanded 22.7 percent year on year to 28.33 trillion yuan (about 4.38 trillion U.S. dollars) in the first three quarters of 2021, official data showed Wednesday. The figure marked an increase of 23.4 percent from the pre-epidemic level in 2019, according to the General Administration of Customs (GAC). Both exports and imports continued double-digit growth in the first nine months of the year, surging 22.7 percent and 22.6 percent from a year earlier, respectively. The fundamentals of China's long-term economic growth have not changed, GAC spokesperson Li Kuiwen told a press conference, noting stable domestic production and consumption demand provided strong support for the growth of China's foreign trade. As the pace of the global economy and trade picked up, demand in the international market contributed to China's foreign trade expansion, Li said, adding that price hikes of international commodities also pushed up China's imports. China has taken a slew of measures in 2021 to ramp up foreign trade growth, including accelerating the development of new business forms and modes, further deepening reform to facilitate cross-border trade, optimizing its business environment at ports, and promoting reform and innovation to facilitate trade and investment in pilot free trade zones. These measures have led to the continuous growth of China's foreign trade, said Li, and they not only boosted business confidence but also injected strong vitality into China's opening-up. In the January-September period, China's trade with its top three trading partners -- the Association of Southeast Asian Nations, the European Union and the United States -- maintained sound growth. During the period, the growth rates of China's trade value with the three trading partners stood at 21.1 percent, 20.5 percent and 24.9 percent, respectively. The rapid growth of trade between China and the United States reflects great complementarity in industrial and trade structures as well as the trade potential between the two countries, said Wen Bin, chief analyst at China Minsheng Bank. China's trade with countries along the Belt and Road rose 23.4 percent year on year during the same period, while the country's trade with members of the Regional Comprehensive Economic Partnership climbed 19.3 percent, customs data shows. In the first three quarters, China's foreign trade volume increased quarter by quarter and took an increased share in the international market, Li said. Statistics show that China's exports and imports accounted for approximately 13.2 percent of the global total in the first half of the year, up 0.8 percentage points over a year earlier. Private enterprises saw imports and exports increase 28.5 percent to 13.65 trillion yuan in the first nine months, accounting for 48.2 percent of the country's total. The imports and exports of state-owned enterprises rose 25.1 percent to 4.35 trillion yuan in the period. To highlight the improved quality of China's foreign trade in the first three quarters, Li cited thriving new business forms and modes as well as more coordinated regional development as examples. The country's imports and exports in cross-border e-commerce soared 20.1 percent year on year in the period. The foreign trade of China's central and western regions surged 27.2 percent year on year, 4.5 percentage points higher than the growth rate for the whole country during the same period. Li also warned that China's foreign trade continues to face a number of unstable and uncertain factors as the global economy struggles to recover and the external environment becomes more complicated. Considering the high base of 2020, China's foreign trade growth may be slower in the fourth quarter, but the overall positive trend will not change, and the country's foreign trade is expected to log steady growth throughout the year, Li said. Source: Xinhua
Canton Fair to kick off with online, offline activities
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Canton Fair to kick off with online, offline activities
14 Oct 2021
Nearly 8,000 global enterprises will participate in offline exhibitions of the 130th session of the China Import and Export Fair, also known as the Canton Fair, the organizers said Wednesday. Meanwhile, around 26,000 companies from home and abroad will participate online, with a record number of 2.82 million exhibits submitted, said Chu Shijia, head of the China Foreign Trade Center, one of the fair's organizers. The upcoming five-day session, scheduled to kick off on Friday in south China's Guangdong Province, will be the fair's first time to be held online and offline concurrently. Founded in 1957, the Canton Fair is seen as a significant barometer of China's foreign trade. The 129th session attracted approximately 26,000 companies showcasing more than 2.76 million exhibits. Source: Xinhua
4th CIIE launches trial of country exhibition
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4th CIIE launches trial of country exhibition
14 Oct 2021
Decorative plants for the 4th China International Import Expo (CIIE) are seen at the National Exhibition and Convention Center (Shanghai) in Shanghai, east China, Oct. 5, 2021. (Xinhua/Fang Zhe) The 4th China International Import Expo (CIIE) on Wednesday launched the trial period of its online country exhibition, which will see different nations exhibit their cultures, characteristic industries and goods. The expo is set to take place in Shanghai from Nov. 5 to 10 this year. CIIE Bureau Deputy Director Liu Fuxue said the country exhibition, as an important part of the expo, has adopted technologies including 3D modeling and virtual engines to build digital exhibition halls -- a new feature at this year's expo. Michele Cecchi, consul general of Italy in Shanghai, said that about 100 Italian companies are set to attend this year's expo. Through the online country exhibition, a real journey through the beauties of Italy will be on offer to both Chinese and overseas audiences. The CIIE has served as a productive and positive platform to provide new opportunities for global trade, investment, and cultural and people-to-people exchanges, said Cecchi. The CIIE is the first dedicated import exhibition globally, and fruitful outcomes have resulted from the past three expos. Source: Xinhua
Interview: China provides "significant opportunity" for investors, corporations -- expert
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Interview: China provides "significant opportunity" for investors, corporations -- expert
13 Oct 2021
The Chinese market provides "a significant opportunity" for global investors and corporations, as the market is buoyed by the country's robust economy and its sustained efforts in advancing reform and opening up, a U.S. expert has said. China not only is equipped with booming middle-class consumers, but also shines in fostering innovation and embracing new technologies, which creates tremendous opportunities, Brendan Ahern, chief investment officer of the Krane Funds Advisors, a U.S. asset management firm specialized in China-focused exchange traded funds (ETF), told Xinhua in a recent interview. "At the same time, China has provided outstanding returns for investors," evidenced by the impressive performance the MSCI China technology sector had scored over the years, said the expert in global financial markets with a particular focus on China. Ahern noted that as the country's onshore equity and fixed income markets open up, investors around the globe have the chance to gain exposure to a broader range of companies and take advantage of the exciting opportunities that China offers. "China has done an exceedingly good job in providing increased access to foreign investors, foreign asset managers, brokers, dealers, and insurance companies," Ahern said, noting China's decades-long dedication to its opening up is "a very strong testament" that the country continues the trajectory "very much firmly." "The opening of China has been happening for decades, certainly providing access into the China A-share market and more recently the bond market," he said, adding the move "is providing a wealth of opportunities for global corporations to bring their services to the Chinese market," benefiting both the companies and their shareholders. The market expert said "foreign ownership of Chinese A-share is growing" especially after the advent of the stock connect program and MSCI's inclusion of Chinese A-shares to their indices, and he believes the tendency is likely to continue, bolstered by a favorable macroeconomic backdrop. The Chinese A-share market has been very resilient this year, driven by investors who have a positive view of how companies will benefit from the economy and the government's handling of coronavirus, he said. Commenting on the volatility in China's offshore listings following recent regulatory moves, Ahern said the market jitters came as "many investors have temporarily stepped to the sidelines," and it is important to have a rational perspective toward regulation. "Regulation is not a bad thing," and in some key sectors, "regulation is warranted," said the expert, adding "we think that the finish line is in sight as we've seen increased transparency from the regulators." According to Ahern, KraneShares CSI China Internet ETF, or KWEB, which holds U.S. and Hong Kong listed Chinese companies, has seen a very significant inflows of about 6 billion U.S. dollars this year. "That's a strong indication that investors believe that these innovative companies will be able to adhere to and adapt to the regulation," he said. Source: Xinhua
Belt and Road Initiative 8 years on (II)
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Belt and Road Initiative 8 years on (II)
12 Oct 2021
Editor's note:Over the past eight years, the Belt and Road Initiative has changed from concept to practice, creating opportunities while benefiting the world. Amid the COVID-19 pandemic, the Belt and Road cooperation has demonstrated its strong resilience and vitality. Let's review how this key initiative has helped improve people's lives across the globe. Source: China Daily
Belt and Road Initiative 8 years on (I)
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Belt and Road Initiative 8 years on (I)
12 Oct 2021
Editor's note:Over the past eight years, the Belt and Road Initiative has changed from concept to practice, creating opportunities while benefiting the world. Amid the COVID-19 pandemic, the Belt and Road cooperation has demonstrated its strong resilience and vitality. Let's review how this key initiative has helped improve people's lives across the globe. Source: China Daily
Deputy Director General of Shaanxi Provincial Department of Commerce visits SRCIC
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Deputy Director General of Shaanxi Provincial Department of Commerce visits SRCIC
17 Sep 2021
On the afternoon of September 16, a delegation led by Sun Jinghu, Deputy Director General of Shaanxi Provincial Department of Commerce, paid a survey visit to the Shaanxi Representative Office of Silk Road Chamber of International Commerce. Accompanied by Diane Bian, Secretary General of SRCIC, Deputy Director General Sun visited the Tang West Market Museum and had a discussion meeting at the Belt and Road Cultural Exhibition Center. Discussion meeting Secretary General Bian introduced the establishment and development of SRCIC, and expressed that SRCIC would give full play to its member resources and its role as a non-governmental organization, and strengthen its collaboration with Shaanxi enterprises by providing tailored networking services for those aspiring to “go out” and achieving innovative development. Deputy Director General Sun pointed out that as an overseas non-governmental organization, SRCIC should operate in accordance with laws and regulations. It should leverage its role as a platform and bridge to help local firms to “go out” and facilitate cooperation between them and their potential foreign partners. In doing so, SRCIC will make a contribution to the development of Shaanxi Province. The discussion was also joined by Director of Foreign Affairs Liaison Division of Shaanxi Provincial Department of Commerce Li Xiaoling, Director of Foreign Trade Division Li Lin, Deputy Director of Foreign Affairs Liaison Division Guo Chen, Deputy Secretary Generals of the SRCIC Li Qiang and Huang Zhe.
Concurso de Dibujo México-China
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Concurso de Dibujo México-China
16 Jul 2021
Concurso Internacional de Dibujo para Niños y Jóvenes 2021 Capítulo China-México A fin de promover el intercambio cultural entre niños y jóvenes de China y México, así como profundizar el entendimiento mutuo y la amistad, fortalecer la cooperación en la cultura, el arte y el turismo entre ambos países, invitamos a los niños y jóvenes de entre 3 y 16 años de edad a participar en el Concurso Internacional de Dibujo para Niños y Jóvenes 2021, organizado por la Cámara de Comercio Internacional de la Ruta de la Seda (Shanghái) y el Consulado General de México en Shanghái. El tema principal del concurso de dibujo es " México en los ojos de los niños y jóvenes", que incluye: la Amistad entre México y China, Viajar por México, Paisajes del Caribe, Cuentos de hadas populares, Arquitectura, Gastronomía, Danza folclórica, Artesanía en general y El Día de Muertos. Los participantes estarán divididos en tres grupos: de 3 a 6 años, de 6 a 9 años y de 9 a 16 años. El concurso quedará abierto a partir de la publicación de la presente convocatoria y hasta el 31 de agosto de 2021. Para mayor información, favor de consultar al siguiente correo electrónico (atención en inglés o mandarín): info@bwfer.com
E-courses and specialised programmes offered by ICC Academy: Part Two
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E-courses and specialised programmes offered by ICC Academy: Part Two
12 Jul 2021
Dear SRCIC members, We are delighted to present to you E-courses and specialised programmes on trade finance and cross border transactions (Part Two) provided by ICC Academy. INTERNATIONAL BUSINESS Incoterms® 2020 Certificate (INCO) The Incoterms® 2020 Certificate (INCO) provides a comprehensive working knowledge of ICC's globally recognised commercial trade terms, which offer specific guidance for corporate professionals involved in trade and international business transactions, trade and logistics professionals and those working in legal and regulatory affairs. This professional certificate helps traders avoid costly misunderstandings by clarifying the tasks, costs and risks involved in the delivery of goods. The certification includes access to 7 online, interactive lessons and the final exam, also taken online. Total learning time is approximately 4-5 hours and the course is available in English or Spanish. › Lesson 1: Overview of Incoterms® Rules › Lesson 2: Definition of Incoterms® 2020 › Lesson 3: Obligations Part 1 › Lesson 4: Obligations Part 2 › Lesson 5: Comparison Matrix › Lesson 6: Industry Case Studies › Lesson 7: Assessment Learn more at: https://icc.academy/certifications/incoterms-2020-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Export/Import Certificate (EIC) The EIC is the ICC's international trade certification that provides comprehensive and practical knowledge on how to conduct cross-border transactions. It will benefit export and import managers, trade finance bankers, freight forwarders and carriers, customs brokers, private and government inspectors and auditors, insurance providers, trade lawyers and trade promotion executives. The certification is split across 5 courses and the final exam, all taken online. Each of the courses will take 3-4 hours to complete and is designed to give you an in-depth understanding of international trade processes and their related risks. In total the EIC will take approximately 21 hours to complete. COURSES › International Trade Overview › Business Transactions and Contracts › Financing and Security Devices › International Logistics and Sourcing › Global Business Management Learn more at: https://icc.academy/certifications/export-import-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Free Trade Agreement Certificate (FTAC) The ICC Academy's Free Trade Agreement Certificate (FTAC) is designed to simplify the often difficult and legalistic FTA rules to help businesses access new markets, higher gross margins through cost reduction, and the ability to source new suppliers at more competitive rates. This professional certificate provides a collaborative mapping of how business units can come together to overcome perceived technicalities and generate revenue-boosting solutions – applicable to any size and industry sector. Divided into 5 lessons, the programme was developed by Globalab's Principal Trainer, Maler Vilee, who has more than 15 years of experience working with governments in trade, investment and free trade agreements. The three-hour interactive course aims to train companies, especially small and medium-sized enterprises, to be adept at using FTAs to boost export competitiveness and identify new growth opportunities. › Lesson 1: Strategic Planning Behind FTAs › Lesson 2: Overview of the FTA basics › Lesson 3: Importance of FTAs for Business Operations › Lesson 4: Industry Case Studies › Lesson 5: Assessment Learn more at: https://icc.academy/certifications/free-trade-agreement-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Invoicing Solutions Certificate (ESC) The E-Invoicing Solutions Certificate (ESC) explains the steps necessary to adopt e-invoicing, the processes for successful implementation and its benefits with the aim of expanding business. Divided into 5 lessons, the programme has been created alongside Mastercard and in partnership with Basware and Xero. The certificate leverages a deep understanding of the digital payment ecosystem to increase the efficiency of an organisation’s finance operations while making it easier to transact with customers. › Lesson 1: Traditional Methods › Lesson 2: E-Invoicing Overview › Lesson 3: Going Digital › Lesson 4: Industry Case Studies › Lesson 5: Assessment Learn more at: https://icc.academy/e-invoicing-solutions-certificate-esc/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Microfinance Associate Certificate (MAC) The Microfinance Associate Certificate (MAC) provides a practical overview and leverage a deeper understanding of challenges and processes required to achieve businessreadiness for anyone joining the microfinance industry. Comprising 5 courses, the programme has been created in partnership with Satin Creditcare Network (SCNL), one of the world’s leading microfinance providers. Microfinance institutions and services provide financial assistance and awareness to people living in less-developed economies. The certificate covers the primary models, application methods and impact of microfinance, as well as the possible risks and mitigation strategies. Courses › Introduction to Microfinance › Microfinance Ecosystem and Application › Microfinance Technology and Analytics › Microfinance Risk and Mitigation › Microfinance Indicators and Impact Learn more at: https://icc.academy/microfinance-associate-certificate-mac/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC
E-courses and specialised programmes offered by ICC Academy: Part One
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E-courses and specialised programmes offered by ICC Academy: Part One
9 Jul 2021
Dear SRCIC members, We are delighted to present to you a series of e-courses and specialised programmes on trade finance and cross border transactions provided by ICC Academy. ABOUT THE ACADEMY Founded in 2015, The ICC Academy is a ground-breaking e-learning platform brought to you by the International Chamber of Commerce (ICC), the world’s business organization. We offer dynamic e-courses and specialised programmes on trade finance and cross border transactions designed by leading industry experts to meet the educational needs of banks, corporates and other organisations at the forefront of international trade. We are part of the International Chamber of Commerce (ICC) –the world’s largest business organization representing more than 45 million companies in over 100 countries. ICC’s core mission is to make business work for everyone, every day, everywhere. Through a unique mix of advocacy, solutions and standard setting, ICC promote international trade, responsible business conduct and a global approach to regulation, in addition to providing market-leading dispute resolution services. ABOUT THE COURSES & PROGRAMMES Part I: TRADE FINANCE Global Trade Certificate (GTC) The GTC is an introductory-level programme designed to help you build a foundational understanding of global trade finance solutions. It will benefit transactional and relationship managers—as well as executives from management, credit, legal and compliance functions. Comprising 6 core courses and 3 electives, the industry-validated syllabus was developed by a group of leading trade finance experts drawn from ICC’s Banking Commission. Each course has been tailor-made to learn the essentials of global trade finance. CORE COURSES › Introduction to Trade Finance › Introduction to Collections › Introduction to Distributor Finance › Introduction to Documentary Credits › Introduction to Guarantees › Introduction to Receivables Finance ELECTIVE OPTIONS (Select 3) › Introduction to Capital and Pricing › Introduction to Compliance › Introduction to Cross Border Trade › Introduction to Fraud and Reputational Risk › Introduction to Risk Distribution › Introduction to Standby Letters of Credit › Introduction to Supply Chain Finance › Introduction to Trade Finance Sales Learn more at: https://icc.academy/certifications/icc-global-trade-certificate/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC Certified Trade Finance Professional (CTFP) The Certified Trade Finance Professional (CTFP) is an advanced professional certificate programme providing training and certification on key trade finance products, techniques and compliance issues. Comprising 5 core courses and 4 electives, the industry-validated syllabus was developed by a group of leading trade finance experts drawn from ICC’s Banking Commission. Each e-course has been tailor-made to develop the skills needed to sell, deliver and process global trade finance solutions. CORE COURSES › Advanced Working Capital for Trade › Advanced Documentary Credits › Advanced Guarantees › Advanced Supply Chain Finance › Export Finance ELECTIVE OPTIONS (Select 4) › Digital Trade Finance and Fintechs › Managing Trade Sales › Managing Trade Operations › Managing Trade Products › Advanced Commodity Finance › Advanced Standby Letters of Credit Learn more at: https://icc.academy/certified-trade-finance-professional/?utm_source=SRCIC&utm_medium=Website&utm_campaign=SRCIC To be continued!
Sino-Greece Session: 2021 International Youth Friendly Art Exchange Competition
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Sino-Greece Session: 2021 International Youth Friendly Art Exchange Competition
6 Apr 2021
Aiming at the promotion of mutual understanding and friendship as well as of cooperation in the fields of culture, art, tourism and sports amongst countries through art exchanges of young people, the Sino-Greece Session of the International Youth Friendly Art Exchange Competition will be held, under the auspices of the Consulate General of Greece in Shanghai. The main themes of the painting competition are: “Friendship between Greece and China”, “Children see Greece”, “Go to Greece with a Sketchpad”, “Greek mythology”, “Aegean scenery” and “Mediterranean food”. Participants will be divided in three groups: 3-6 years old, 6-9 years old, 9-16 years old. The deadline for the submission of paintings is April 20, 2021. For further information, please contact info@bwfer.com.
SRCIC Attends Education, Economic and Trade Cooperation Meeting between Shaanxi and Mogilev
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SRCIC Attends Education, Economic and Trade Cooperation Meeting between Shaanxi and Mogilev
7 Dec 2020
2 December 2020, the online exchange meeting concerning education and economic and trade cooperation was held between Shaanxi, China and Mogilev, Belarus. Speeches were delivered respectively by Yao Hongjuan, Member of the Shaanxi Provincial Party Committee and Director of the Provincial Foreign Affairs Office, Tang Yugang, Deputy Director of the Department of Commerce, Marinenko Pavel Leonidovich, Vice Chairman of the Executive Committee and Economic Committee of Mogilev, Ivanistov Aleksandr Nikolaevich, Director of the Scientific Research Department of the Belarusian Academy of Agricultural Sciences, Yartsev Andrey Viktorovich, Director of Free Economic Zone of Mogilev, and Luo Jun, Vice President of Northwest Agricultural and Forestry University. In addition, representatives of 12 enterprises in food industry, meat import and export, dairy products and other fields promoted their products at the meeting. Diane Bian, Secretary General of the SRCIC, was also invited to the online meeting. SG Bian introduced the major conferences and international activities held by the SRCIC since its establishment, and also elaborated how the SRCIC actively use its member network and cooperative platform to boost economic and trade cooperation, and cultural exchanges between China and Belarus. SG Bian said that the SRCIC is committed to mobilizing its member resources to strengthen the collaboration between the Sino-Belarusian business communities and enabling the enterprises of Shaanxi and Mogilev to participate in the Belt and Road construction, so as to share the development dividend of the B&R initiative. Finally, SG Bian gave an introduction to the Silk Road Urban Alliance (SRUA) initiated by SRCIC in 2018. She warmly welcomed Mogilev to join in the SRUA for the potential collaboration and win-win development.
Economic Watch: China's foreign trade maintains robust growth, reports improved quality
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Economic Watch: China's foreign trade maintains robust growth, reports improved quality
15 Oct 2021
China's foreign trade maintained robust growth with strong resilience and improved quality in the first three quarters of the year, backed by the country's steady economic development. China's total imports and exports expanded 22.7 percent year on year to 28.33 trillion yuan (about 4.38 trillion U.S. dollars) in the first three quarters of 2021, official data showed Wednesday. The figure marked an increase of 23.4 percent from the pre-epidemic level in 2019, according to the General Administration of Customs (GAC). Both exports and imports continued double-digit growth in the first nine months of the year, surging 22.7 percent and 22.6 percent from a year earlier, respectively. The fundamentals of China's long-term economic growth have not changed, GAC spokesperson Li Kuiwen told a press conference, noting stable domestic production and consumption demand provided strong support for the growth of China's foreign trade. As the pace of the global economy and trade picked up, demand in the international market contributed to China's foreign trade expansion, Li said, adding that price hikes of international commodities also pushed up China's imports. China has taken a slew of measures in 2021 to ramp up foreign trade growth, including accelerating the development of new business forms and modes, further deepening reform to facilitate cross-border trade, optimizing its business environment at ports, and promoting reform and innovation to facilitate trade and investment in pilot free trade zones. These measures have led to the continuous growth of China's foreign trade, said Li, and they not only boosted business confidence but also injected strong vitality into China's opening-up. In the January-September period, China's trade with its top three trading partners -- the Association of Southeast Asian Nations, the European Union and the United States -- maintained sound growth. During the period, the growth rates of China's trade value with the three trading partners stood at 21.1 percent, 20.5 percent and 24.9 percent, respectively. The rapid growth of trade between China and the United States reflects great complementarity in industrial and trade structures as well as the trade potential between the two countries, said Wen Bin, chief analyst at China Minsheng Bank. China's trade with countries along the Belt and Road rose 23.4 percent year on year during the same period, while the country's trade with members of the Regional Comprehensive Economic Partnership climbed 19.3 percent, customs data shows. In the first three quarters, China's foreign trade volume increased quarter by quarter and took an increased share in the international market, Li said. Statistics show that China's exports and imports accounted for approximately 13.2 percent of the global total in the first half of the year, up 0.8 percentage points over a year earlier. Private enterprises saw imports and exports increase 28.5 percent to 13.65 trillion yuan in the first nine months, accounting for 48.2 percent of the country's total. The imports and exports of state-owned enterprises rose 25.1 percent to 4.35 trillion yuan in the period. To highlight the improved quality of China's foreign trade in the first three quarters, Li cited thriving new business forms and modes as well as more coordinated regional development as examples. The country's imports and exports in cross-border e-commerce soared 20.1 percent year on year in the period. The foreign trade of China's central and western regions surged 27.2 percent year on year, 4.5 percentage points higher than the growth rate for the whole country during the same period. Li also warned that China's foreign trade continues to face a number of unstable and uncertain factors as the global economy struggles to recover and the external environment becomes more complicated. Considering the high base of 2020, China's foreign trade growth may be slower in the fourth quarter, but the overall positive trend will not change, and the country's foreign trade is expected to log steady growth throughout the year, Li said. Source: Xinhua
Canton Fair to kick off with online, offline activities
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Canton Fair to kick off with online, offline activities
14 Oct 2021
Nearly 8,000 global enterprises will participate in offline exhibitions of the 130th session of the China Import and Export Fair, also known as the Canton Fair, the organizers said Wednesday. Meanwhile, around 26,000 companies from home and abroad will participate online, with a record number of 2.82 million exhibits submitted, said Chu Shijia, head of the China Foreign Trade Center, one of the fair's organizers. The upcoming five-day session, scheduled to kick off on Friday in south China's Guangdong Province, will be the fair's first time to be held online and offline concurrently. Founded in 1957, the Canton Fair is seen as a significant barometer of China's foreign trade. The 129th session attracted approximately 26,000 companies showcasing more than 2.76 million exhibits. Source: Xinhua
4th CIIE launches trial of country exhibition
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4th CIIE launches trial of country exhibition
14 Oct 2021
Decorative plants for the 4th China International Import Expo (CIIE) are seen at the National Exhibition and Convention Center (Shanghai) in Shanghai, east China, Oct. 5, 2021. (Xinhua/Fang Zhe) The 4th China International Import Expo (CIIE) on Wednesday launched the trial period of its online country exhibition, which will see different nations exhibit their cultures, characteristic industries and goods. The expo is set to take place in Shanghai from Nov. 5 to 10 this year. CIIE Bureau Deputy Director Liu Fuxue said the country exhibition, as an important part of the expo, has adopted technologies including 3D modeling and virtual engines to build digital exhibition halls -- a new feature at this year's expo. Michele Cecchi, consul general of Italy in Shanghai, said that about 100 Italian companies are set to attend this year's expo. Through the online country exhibition, a real journey through the beauties of Italy will be on offer to both Chinese and overseas audiences. The CIIE has served as a productive and positive platform to provide new opportunities for global trade, investment, and cultural and people-to-people exchanges, said Cecchi. The CIIE is the first dedicated import exhibition globally, and fruitful outcomes have resulted from the past three expos. Source: Xinhua
Interview: China provides "significant opportunity" for investors, corporations -- expert
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Interview: China provides "significant opportunity" for investors, corporations -- expert
13 Oct 2021
The Chinese market provides "a significant opportunity" for global investors and corporations, as the market is buoyed by the country's robust economy and its sustained efforts in advancing reform and opening up, a U.S. expert has said. China not only is equipped with booming middle-class consumers, but also shines in fostering innovation and embracing new technologies, which creates tremendous opportunities, Brendan Ahern, chief investment officer of the Krane Funds Advisors, a U.S. asset management firm specialized in China-focused exchange traded funds (ETF), told Xinhua in a recent interview. "At the same time, China has provided outstanding returns for investors," evidenced by the impressive performance the MSCI China technology sector had scored over the years, said the expert in global financial markets with a particular focus on China. Ahern noted that as the country's onshore equity and fixed income markets open up, investors around the globe have the chance to gain exposure to a broader range of companies and take advantage of the exciting opportunities that China offers. "China has done an exceedingly good job in providing increased access to foreign investors, foreign asset managers, brokers, dealers, and insurance companies," Ahern said, noting China's decades-long dedication to its opening up is "a very strong testament" that the country continues the trajectory "very much firmly." "The opening of China has been happening for decades, certainly providing access into the China A-share market and more recently the bond market," he said, adding the move "is providing a wealth of opportunities for global corporations to bring their services to the Chinese market," benefiting both the companies and their shareholders. The market expert said "foreign ownership of Chinese A-share is growing" especially after the advent of the stock connect program and MSCI's inclusion of Chinese A-shares to their indices, and he believes the tendency is likely to continue, bolstered by a favorable macroeconomic backdrop. The Chinese A-share market has been very resilient this year, driven by investors who have a positive view of how companies will benefit from the economy and the government's handling of coronavirus, he said. Commenting on the volatility in China's offshore listings following recent regulatory moves, Ahern said the market jitters came as "many investors have temporarily stepped to the sidelines," and it is important to have a rational perspective toward regulation. "Regulation is not a bad thing," and in some key sectors, "regulation is warranted," said the expert, adding "we think that the finish line is in sight as we've seen increased transparency from the regulators." According to Ahern, KraneShares CSI China Internet ETF, or KWEB, which holds U.S. and Hong Kong listed Chinese companies, has seen a very significant inflows of about 6 billion U.S. dollars this year. "That's a strong indication that investors believe that these innovative companies will be able to adhere to and adapt to the regulation," he said. Source: Xinhua
Belt and Road Initiative 8 years on (II)
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Belt and Road Initiative 8 years on (II)
12 Oct 2021
Editor's note:Over the past eight years, the Belt and Road Initiative has changed from concept to practice, creating opportunities while benefiting the world. Amid the COVID-19 pandemic, the Belt and Road cooperation has demonstrated its strong resilience and vitality. Let's review how this key initiative has helped improve people's lives across the globe. Source: China Daily
Belt and Road Initiative 8 years on (I)
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Belt and Road Initiative 8 years on (I)
12 Oct 2021
Editor's note:Over the past eight years, the Belt and Road Initiative has changed from concept to practice, creating opportunities while benefiting the world. Amid the COVID-19 pandemic, the Belt and Road cooperation has demonstrated its strong resilience and vitality. Let's review how this key initiative has helped improve people's lives across the globe. Source: China Daily
INOV Contacto International Internships
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INOV Contacto International Internships
19 Jul 2021
Dear SRCIC members, We would like to inform you that "INOV Contacto" is now accepting applications for its International Internship Programme. If you want to strengthen your international team with a qualified, paid intern (whose profile is matched with the job description) during six months, you can take advantage of this programme that begins in January, 2022. "INOV Contacto" is an initiative promoted by the Portuguese Trade & Investment Agency since 1997, with more than 5,800 internships across 1,200 companies worldwide. To find out more and/or apply, click HERE.
SRCIC members attend the CPC and World Political Parties Summit
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SRCIC members attend the CPC and World Political Parties Summit
9 Jul 2021
On July 6, 2021, the Communist Party of China (CPC) and World Political Parties Summit was held via video link. Xi Jinping, general secretary of the CPC Central Committee and Chinese president, attended the summit in Beijing and delivered a keynote speech. In his speech titled Strengthening Cooperation Among Political Parties to Jointly Pursue the People's Wellbeing, Xi stressed that political parties, as an important force behind human progress, need to set the right course forward and shoulder their historic responsibility to ensure the people's well-being and pursue human progress. He also pointed out that the CPC stands ready to work with world political parties to be builders of world peace, advocates for global development, and guardians of the international order. Xi Jinping, general secretary of the CPC Central Committee and Chinese president, delivers a keynote speech (Source: Xinhua News Agency) The cloud summit gathered leaders of more than 500 political parties and organizations from over 160 countries. Political parties from 100-plus countries set up nearly 200 venues in their home countries to organize their representatives to attend the summit. SRCIC members including the Philippine Silk Road International Chamber of Commerce (PSRICC), Chinese Southeast European Business Association (CSEBA), Arab-Chinese Cooperation and Development Association, Office of Georgian Chamber of Commerce and Industry in China, Silk Road Association Alliance members including Latin American Centre of Political and Economics Studies of China (CLEPEC), Malaysian Chamber of Commerce and Industry in China, and SRCIC partner Russian Federation Chamber of Commerce and Industry in Eastern Asia (Beijing) attended the summit. Francis Chua, Vice Chairman of SRCIC and Chairman of the PSRICC pointed out that this year marks the centenary the CPC. For 100 years, the mission of the CPC has been to bring prosperity to the Chinese people. Through decades of arduous struggle, the CPC has achieved one victory after another, profoundly changing the history and destiny of China. The PSRICC is willing to promote the cooperation between the Philippine business community and China. “When we communicate with countries around the world, we will tell them that China is a country that values peace, a country that cares about its people and its neighbors, a country that keeps its word and walks by its word. We will tell the world about China's efforts in promoting global peace and development. That's what we at the PSRICC are doing, and we want to continue to tell good stories about China,”Chua said. The image above is President Xi Jinping delivering a keynote speech. The image below, at left, is President Duterte's video address to the conference. On the right is the scene at PSRICC. Mario Rendulić, president of CSEBA said they will convey President Xi’s ideas to the Croatian people in a suitable way. He hoped that the Croatian leaders will have a deeper understanding of the CPC and draw on it to accelerate Croatia's development in all aspects. He then reiterated his willingness to further promote the Belt and Road Initiative in Croatia in the hope of building stronger ties between the two countries. President of CSEBA Mario Rendulić (R) and President of CSEBA in Asian-Pacific Li Zhenwei (L) attending the online meeting President of Arab-Chinese Cooperation and Development Association Kassem Tofailli(the first row from left) attending the online meeting Chief Representative of Russian Federation Chamber of Commerce and Industry in Eastern Asia(Beijing) Ivan A.Izotov attending the meeting Bekar, representative of Georgian Chamber of Commerce and Industry in China, congratulated on the success of the CPC and World Political Parties Summit. He expressed heartfelt congratulations on CPC's centenary and wished China continuous progress and development. He said that from the perspective of history, the period of 100 years is very short. But within such a short time frame, Chinese people managed to make unprecedented achievements under the leadership of the CPC.China is an important strategic partner of Georgia, and the two countries enjoyatime-honoredfriendship and close cooperation, which he hoped to continue to deepen and develop in the years to come. Source: People's Daily and SRCIC members
Diversity Defeats Singularity: Daryl Guppy
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Diversity Defeats Singularity: Daryl Guppy
9 Jul 2021
The axis of the world is inexorably tilting, although some are reluctant to acknowledge this. Just how this tilt will rebalance is the key question of our time. Two potential answers are encapsulated in the Group 7 meeting and the World Political Parties Summit of 160 countries and over 500 leaders of parties and political organizations. The sheer imbalance of numbers attending these respective meetings is proof enough alone of the momentum tilting the axis. The pressure for change in the structure of international trade relations is building and it is enabled by the increased connectivity made possible by advances in 5G and AI. The current “global order” labelled by a few countries is an extension of the outdated imperial order and excludes most countries from any meaningful participation in creating the rules that govern international trade. The time has come for these rules to be based on internationally recognised norms rather than rules imposed by an elite few. Block-chain solutions help eliminate inefficiencies in trade settlement but they require common and cooperative standards. These cannot be achieved if the process is dominated by the interests of just a few countries. The World Political Parties Summit held on July 6 via video link considered alternatives to the narrow-based hegemony favoured by the G7. It united the conversation around the concept of Governance delivering “the common values of humanity” by fostering broad-minded tolerance in the understanding of values of different civilizations. The Communist Party of China (CPC) and World Political Parties Summit is held via video link in Beijing on July 6, 2021. (Photo/Xinhua) The Summit recognised that no single political system provided a universal solution to the common question of how to improve living standards for their citizens. This is the key difference in approach, with the Summit embracing a diversity of solutions free from ideological blinkers. Global business organisations like the Silk Road Chamber of International Commerce have long recognised that there is a diversity of solutions to bringing prosperity to citizens. The Summit confirmed this approach must also extend to political parties and Government. In contrast to the G7 meeting, the summit recognised that “There doesn’t exist a fixed model for the path to modernization” so each country will select the path that serves it well. Central to progress is the freedom to develop in ways that are most appropriate for the economic and social stage of development. This is why the summit also rejected the idea that any country had the right to try to limit the prosperity of others by denying access to technology, innovation and financing. This ‘developmental decoupling’ works against the need to build a community with a shared future for mankind. In contrast to the G7 meeting, the World Political Parties Summit bought a breath of fresh air and new cooperative thinking. The summit showed the axis of the world is tilting towards giving more voice to choose and diversity and away from domination by a few. Source: cnfocus.com
Forthcoming book: China for SMEs Essential Elements of Success
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Forthcoming book: China for SMEs Essential Elements of Success
12 Apr 2021
Mr. Daryl Guppy, SRCIC member and Chairman of Australia China Business Council (ACBC), will release his new book China for SMEs Essential Elements of Success. He is also the founder and CEO of Guppytraders.com, an international financial market education and training organisation with offices in Darwin, Singapore and Beijing. As China grows in importance to companies around the world, it is vital for companies to understand the Chinese business culture. This book is an essential read for anyone serious about successful business in modern China.Mr. Daryl Guppy outlines the crucial ingredients for success, culled from more than 20 years of experience in China business, official meetings and government advisory. Reviews "If you want to do business in China, this book is an absolute must. Nobody I know understands China and the Chinese people as well as Daryl Guppy. His knowledge and insights are built on his decades of business experience, his wide networks and friendships. I strongly recommend this book for anyone currently doing business, studying business or wanting to do business with China." John Brumby Former Premier of Victoria, Australia and National President of the Australia China Business Council 2014–2019 "Guppy's great skill is to eschew the usual cliches and urban myths about doing business in China. Instead, he emphasises the background work required to know your customer, know your market, know the diversity of China, even within a single city, know yourself, and know your offer, be it in products or services. Guppy's analysis will help many to get to success for years to come." Geoff Raby Former Australian Ambassador to China Independent ASX company director, Chairman, Geoff Raby and Associates "Daryl Guppy's book is a rich repository of behavioural observations, nuances and understandings which are fundamental to building the all-important relationships and trust that drive successful engagement with the Chinese. Anyone looking to engage successfully with the Chinese would benefit greatly from exploring the insights which shape the 'deep seated' perceptions of the Chinese people." Hon. Andrew Robb AO Former Minister for Trade and Investment and architect of the China Australia Free Trade Agreement For the further information , please download from https://worldscientific.com/worldscibooks/10.1142/12167
COVID-19 passport success relies on coordination: Daryl Guppy
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COVID-19 passport success relies on coordination: Daryl Guppy
15 Mar 2021
An International Certificate of Vaccination or Prophylax is shown in front of the Berlaymont, the EU Commission headquarter in Brussels, Belgium, March 13, 2021. /Getty Editor's note:Daryl Guppy is an international financial technical analysis expert. He has provided weekly Shanghai Index analysis for Chinese mainland media for more than a decade. Guppy appears regularly on CNBC Asia and is known as "The Chart Man." He is a national board member of the Australia China Business Council. The article reflects the author's views and not necessarily those of CGTN. Responses to COVID-19 in 2020 exposed significant cracks in the implementation of public health policy. Unfortunately that same dysfunction threatens the resumption of international travel and commerce because of lack of agreement about the form of a COVID-19 passport. In China, the public health response to COVID-19 was disciplined, coordinated and effective; in the United States, the response was disjointed with inconsistent standards applied by different states and by the political leadership; in the United Kingdom, the response was an abject failure of planning and implementation. Some countries – like Australia and New Zealand – effectively kept COVID-19 contained and managed by the simple expedient of closing their island borders. Celebration of the low infection rate in Australia disguised the failure to develop any nationally recognized track and trace system, with each State setting their own standards for quarantine, tracking and border closures. People have every reason to expect that the management of the post-COVID-19 recovery will draw on the lessons learned during the COVID-19 crisis. Unfortunately this does not appear to be the case as some countries are developing their own COVID-19 passport solutions without reference to others. Some other countries are simply not actively considering the issue at this time. At one level, developing a secure COVID-19 passport is simply a matter of applying the appropriate technology. It should be a straightforward solution using blockchain security features. The inability to develop COVID-19 track and trace systems in some countries suggests the problem of an acceptable COVID-19 passport may be more difficult to resolve. The passport must rest of unquestionable proof of vaccination. Currently, several groups are developing COVID-19 passports. China has just launched its digital version of a health certificate for international travelers. It uses an encrypted QR code based on blockchain security. Singapore has a government-led process. GovTech (Singapore) developed digital COVID-19 test credentials for travellers pre-departure validation. These are fully compliant with Singapore's SafeTravel program. Considerable work with blockchain based passports has been undertaken by the International Air Transport Association and the EU. They are well advanced in developing and adopting a standard. This initiative is led by business; so the challenge is to persuade governments to recognize the solutions. Elsewhere business organizations are taking the lead. The Australia China Business Council is urging the Australian government to support the development of a COVID-19 vaccine passport using blockchain technology to help open international travel. President David Olsson said "We see an opportunity for the Australian government to work with China and other nations in our region to develop the recommended standards for security, authentication, privacy and data exchange." Michelle Reeves and Marc Reeves and their family's passports to Australia seen on the counterspace, July 27, 2020. /Getty These varied approaches means questions remain around the compatibility and cross border acceptance of these COVID-19 passports. Mutual recognition of these different approaches is the first barrier to overcome before international travel can truly resume. However, immunization in itself poses a problem. People who have been vaccinated will show lingering historical evidence of a low level COVID-19 infection. These viral remnants may be picked up by the nucleic and serum IgM antibody tests regimes and deliver a COVID-19 positive result. This may prevent a green tick on the COVID-19 passport. The suggested solution is for proof of vaccination to be given absolute priority over any lingering COVID-19 positive result. At a deeper level, and more alarmingly, are the problems associated with the architectural foundations of a COVID-19 passport. It's an issue that is concerning many business organizations because it goes to the heart of the efficacy of a COVID-19 passport. This issue rests on the recognition of a range of vaccines that will provide the platform for a major boost for international tourism and for a resumption of international business and student travel. The COVID-19 passport is not genuinely useful unless it includes and recognizes "approved" vaccination sources which will enable quarantine free international travel. The architecture of the COVID-19 passport is the key issue because it rests on the mutual recognition of vaccines as suitable for permitting quarantine free travel. A COVID-19 passport requires much more than a green tick. Business groups have an important role to play in ensuring that the operational details of a COVID-19 passport, including mutual vaccine recognition, really make international business and tourist travel accessible and possible. Source: CGTN
Main Fairs and Exhibitions in Cuba 2021
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Main Fairs and Exhibitions in Cuba 2021
15 Mar 2021
【About the Chamber of Commerce of the Republic of Cuba】 The Chamber of Commerce of the Republic of Cuba was created on February 1, 1963. The Chamber was seen as an effective instrument to contribute to the search for new markets, support the great reorganization of foreign trade, and to enable business relationships with other countries. 【Fairs & Exhibitions】 Nowadays, fairs and exhibitions have become an essential component of Cuba’s commercial and business scene. Below are some of the fairs and exhibitions to be held in Cuba in 2021. February International Book Fair March International Agricultural Fair March INFORMATICA 2021 - 18th International IT Convention & Fair April International Hotel Trade Fair May International Tourism Fair May International Fair Renewable energy June Cubaindustria 2021 June EXPOMATANZAS June EXPOCARIBE September International Fair Transport & Logistic November Havana International Trade Fair, FIHAV December International Crafts Fair 【Trade & Investment】 Cuba, as an important gateway to South America, enjoys political stability and crucial strategic position. The country is rich in agriculture, fishery and tourism resources, bringing great potential for development. On the website of Procuba www.procuba.cu you can find the portfolio of investment opportunities and the Cuban exportable offer. 【Mariel Special Development Zone (MSDZ)】 MSDZ is situated 45km west of Havana and has an area of 465.4km². Since its establishment more than seven years ago, MSDZ has become an important platform for Cuba to attract foreign investment. Activities and sectors prioritized in the MSDZ: Biotechnology, development and production of drugs Containers and Packaging Industry Renewable energy Agriculture Food industry Industry Telecommunications and Informatics Tourism and Real Estate Investments in Infrastructure For more information, please visit www.zedmariel.com/en or download Business with Cuba.
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