Online Canton Fair opens new path for international trade
Jun-30-2020 By : fcccadmin
The 127th China Import and Export Fair, also known as the Canton Fair, which marked the first time the fair had been moved online, opened unlimited room beyond time and space restrictions for Chinese and foreign enterprises to engage in trade deals, industry experts said. It also explored a new path for international trade development, they added. The groundbreaking online fair contributed to the stabilization of foreign trade and investment during the coronavirus pandemic, said Xu Bing, Deputy Director of the China Foreign Trade Center and Spokesperson of the Canton Fair. Xu said it demonstrated China’s firm determination to the international community to expand opening-up and maintain the safety of the international industrial supply chain, as well as its responsibility to respond to pandemic conditions and support the multilateral trading system. The 10-day fair, which concluded last week, attracted nearly 26,000 exhibitors from home and abroad. They uploaded their product introductions to the online fair using graphics, videos and 3D images, attracting global buyers to purchase online, according to the Organizing Committee.
The Canton Fair attracted foreign purchasing agents from 217 countries and regions. Also, to help enterprises shift from exports to domestic sales, the Canton Fair also increased invitations to domestic buyers. The fair featured the latest technology trends, such as virtual reality and live-streaming promotions. Some exhibitors launched live-streamed promotions in four time zones, covering the Americas, Europe, Asia-Pacific and the Middle East. This helped them seamlessly connect with buyers from across the world. Zhao Ping, Director of the International Trade Research Department at the China Council for the Promotion of International Trade Academy (CCPIT), said: “The online Canton Fair accelerates enterprises’ digital transformation. It encourages enterprises to enhance comprehensive exploration in products, distribution channels and cooperation methods, helps them in reaching consumers in various countries and diversified markets, creating brands and building a global digital supply chain.”
Ying Er, Chairman of Zhejiang Apollo Motorcycle Manufacturing Co, a large company specializing in the production of off-road motorcycles, electric bicycles, e-scooters and other recreational vehicles, said his firm displayed five types of vehicles during the Canton Fair, including two winners of the Automotive Brand Contest in Germany. It secured orders worth a total of USD500,000 during the fair. In addition to regular clients, there were many potential buyers who left messages, and further contact is expected, Ying said, adding that the company’s shipments have been scheduled until November. Even though overseas buyers could not attend the fair in person because of Covid-19, holding the event online has certainly created new business opportunities for people in China and around the world, said Rodrigo Quilodran, a buyer from Chile. Through the event, he said he found the products he wanted simply by visiting webpages, adding that the expo injected new impetus to global trade. Xu Bing of the China Foreign Trade Center said: “In the future, the Canton Fair will continue to embrace digital trends and promote deep online and offline integration, to open up broader development space for domestic and foreign enterprises and create more business opportunities,” the China Daily reports.
Qualcomm invests in nine Chinese startups
Nov-21-2017 By : fcccadmin
U.S. chipmaker Qualcomm said it has invested in nine Chinese startups, including Beijing-based image recognition startup SenseTime and Chinese bike-sharing firm Mobike Technology Co, as it attempts to create new momentum in key markets. The move is also part of the company’s USD150 million strategic investment plan announced in 2014 for China’s technology market and came as it further expands into artificial intelligence (AI) and the internet of things (IoT) business.
Quinn Li, Qualcomm’s Vice President and global head of Qualcomm Ventures, said by providing financial and technical support for the nine companies, Qualcomm aims to help them make further breakthroughs in the fields of AI and IoT. Other startups being backed by Qualcomm include wireless technology provider CreatComm Technology, AI startup Kneron, unmanned convenience store operator Zero Element, virtual reality and augmented reality film and television content provider Magic AI and leading electronic
building blocks manufacturer and learning tools provider Microduino. Beijing Acsm Agriculture Consultant, Smart Management Technology Service Co, and Alo7, which offers immersive English learning environment for children, also received additional investment from Qualcomm. The company did not disclose the size of the investment.
Qualcomm also announced it had rejected an unsolicited take-over bid by Broadcom.
Two-day Belt and Road Forum ends in Beijing
May-22-2017 By : fcccadmin
The Belt and Road Forum for International Cooperation closed in Beijing after its second day on May 15. It was the biggest diplomatic event hosted in China this year, attended by about 1,200 delegates from 110 countries, including 29 visiting heads of state and government leaders. Vice Premier Kris Peeters represented Belgium.
FCCC/EUCBA was represented by Mr Philippe Van der Donckt, Vice Chairman of the Flanders-China Chamber of Commerce (FCCC) and the EU-China Business Association (EUCBA) and Business Development Director of Umicore. The Port of Antwerp, the Port of Zeebrugge and Katoennatie also participated.
The Belt and Road Initiative has a near global focus, although the prime focus is on the Eurasian continent. Cash-strapped states of Asia, Africa, Latin America and Europe’s south and east welcomed an injection of Chinese funds and the prospect of more exports to China. In contrast, the United States has showed little interest, Japan has upped the speed of its own regional connectivity plans, and the European Union has given the initiative a lukewarm welcome. Russia, meanwhile, has decided to link the initiative with its own regional economic framework, the Eurasian Economic Union. The most enthusiastic supporter of the initiative in Western Europe is Great-Britain, but countries such as Germany, Italy and Spain are more cautious. They refused to co-sign some forum documents, saying the initiative was not clear on public procurement and social and environmental standards. The head of the U.S. delegation, Matthew Pottinger, urged China to insist from the start on transparent government procurement. “Transparency will ensure that privately-owned companies can bid in a fair process, and that the cost of participating in tenders will be worth the investment,” he said.
President Xi Jinping said in his closing address that more than 270 cooperation projects or agreements had been signed during the summit. The joint communique was signed by 30 countries. It said the countries would promote “practical cooperation on roads, railways, ports, maritime and inland water transport, aviation, energy pipelines, electricity and telecommunications” to boost growth, and work on a long-term stable and sustainable financial system. At the start of the Forum Chinese President Xi Jinping had promised to inject at least USD113 billion in extra funding for the initiative. On the sidelines of the Forum, China signed agreements with 68 countries to jointly develop infrastructure along the new Silk Road trade routes. The next Silk Road summit is set for 2019.
Belt and Road Initiative in line with interest of all countries, says President Xi
May-15-2017 By : fcccadmin
The two-day Belt and Road Forum for International Cooperation was held in Beijing on May 14 and 15, attended by representatives of more than 100 countries and regions, including the heads of state or government of 29 countries, and the heads of the United Nations, International Monetary Fund (IMF) and the World Bank. Vice Premier Kris Peeters represented Belgium at the Forum. Chinese President Xi Jinping said in his keynote speech that the Belt and Road Initiative “in line with the interests of all countries”as he offered at least CNY780 billion in extra funding for the ambitious plan.
He called for international cooperation to fund the projects and to combat protectionism along the new Silk Road routes. China’s Silk Road Fund would increase funding by CNY100 billion, Chinese banks would extend CNY300 billion in overseas capital, and the China Development Bank and Export and Import Bank of China would add CNY250 billion and CNY130 billion respectively in special loans to Belt and Road projects. President Xi said the Belt and Road Initiative was a right step in moving towards a future of “happiness, peace and harmony”. The idea was “not to open a new kitchen”, but to seek to strategically connect existing plans, including those of Russia, Turkey, Mongolia and Vietnam, the Chinese President said. The Belt and Road plan “would not repeat the old way of geopolitical games, but would seek cooperative win-win”, he added.
President Xi said the new Silk Road would be open to all, including Africa and the Americas, which are not on the traditional trading route. The Belt and Road Initiative – a plan Xi unveiled in 2013 to build infrastructure and expand trade across countries in Asia, Africa and Europe – has been welcomed by cash-starved emerging countries. Those countries are home to 60% of the world’s population and need more than USD26 trillion of infrastructure investment by 2030, according to Asian Development Bank (ADB) estimates.
Attending the Forum were Russian President Vladimir Putin; European Commission Vice President Jyrki Katainen; Philippine President Rodrigo Duterte; Turkey’s President Recep Tayyip Erdogan; Pakistani Prime Minister Nawaz Sharif; Spanish Prime Minister Mariano Rajoy; Greek Prime Minister Alexis Tsipras; and Vietnamese President Tran Dai Quang. Myanmar’s State Counsellor Aung San Suu Kyi also attended the Forum. North and South Korea were both represented, and their delegations held a brief meeting. The United States’ delegation was led by Matt Pottinger, Special Assistant to U.S. President Donald Trump and Senior Director for East Asia at the National Security Council (NSC). India, on the other hand, was represented only by local embassy staff and academics, reflecting New Delhi’s unease about the initiative. Leaders of only five of the EU’s 28 member states attended the Forum.
Jonathan Hillman, Director of the Reconnecting Asia Project at the Center for Strategic and International Studies, said the initiative was a double-edged sword. “It is broad and ambitious, but the practical implementation is very difficult, to get a lot of different countries to agree on anything that is game-changing”.
Highlights of President Xi Jiping’s keynote speech
By : fcccadmin
Following are some of the highlights of Chinese President Xi Jinping’s keynote speech at the Forum on May 14.
“We will build an open platform, defend and develop an open world economy, jointly create an environment good for opening-up and development, and push for a just, reasonable and transparent international trade and investment system so that production materials can circulate in an orderly way, be allocated with high efficiency, and markets are deeply integrated.”
“We will not interfere in other countries’ internal affairs. We will not export our system of society and development model, and even more, will not impose our views on others. In advancing the Belt and Road, we will not re-tread the old path of games between foes. Instead we will create a new model of cooperation and mutual benefit.”
“We are living in a world with constant challenges: The world economy needs new growth drivers, its development needs to be more balanced and universal, the wealth gap should be narrowed, while some regions are plagued with turbulence and terrorism. Peace, development and governance are challenges for all human beings. This is what I keep thinking about.”
“History is the best teacher. History showed us that we can move along with mutual respect and development and towards the future of happiness, peace and harmony if we bravely walk the first step. The countries along the ancient Silk Road were once places with milk and honey, but now are full of turbulence, conflicts and crisis. Such conditions must be addressed. We must have mutual cooperation and a sustainable security outlook, try to tackle hot issues and insist on political resolution.”
“A country’s opening-up is like the creation of butterfly from cocoon. It brings rebirth with short-term pain. We must orient the construction of the Belt and Road Initiative on opening-up and try to solve problems concerning economic growth and balance.”
“No matter if they are from Asia and Europe, or Africa or the Americas, they are all cooperative partners in building the Belt and Road.”
Parts of President Xi Jinping’s speech as reported by the South China Morning Post.
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