Business
Asian Financial Forum (AFF) Features 2,800+ Government, Finance and Business Leaders
Co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), the two-day Asian Financial Forum (AFF) came to a successful conclusion today at the Hong Kong Convention and Exhibition Centre.
This year’s AFF featured more than 90 prominent speakers including top government officials and business and financial leaders from around the world, including today’s Keynote Luncheon speaker Dr Ben S. Bernanke, Chairman of the United States Federal Reserve System (2006-2014).
The forum welcomed more than 2,800 financial experts, CEOs, professional investors and high net-worth individuals from 38 countries and regions.
During the AFF, the HKTDC organised on-site real-time surveys to gauge the views of participating financial and business elites on key issues relating to the global economy and investment environment. Survey results showed that most participants were not optimistic about the prospects for the global economy this year.
Only 15.8 per cent of participants were optimistic about the global economic outlook
whereas 43.7 per cent were pessimistic, and 40.5 per cent expressed a neutral view. When asked about the biggest risk to the global economy this year, 36.3 per cent of the participants cited the potential for a hard landing of the Chinese mainland economy, followed by geopolitical tensions (21.8%), collapse of energy and commodity prices (20.4%), and uncertainty about the pace of US interest rate normalisation (17.9%).
China and US Seen as Offering Best Investment Returns in 2016
When asked about markets offering the best investment returns, China ranked first with 30.3 per cent of the votes followed by the US (23.4%), Southeast Asia (17.5%) and India (12.7%).
In terms of industrial sectors with the greatest potential to drive global growth, 23.4 per cent of respondents picked green industries/environmental goods and services, followed by telecom, media and technology (20.1%), E-commerce (20.1%), and healthcare (18.7%). Other sectors put to the vote were real estate and infrastructure (6.4%) and financial services (6.2%). Food and agriculture (4.3%) and luxury products (0.7%) were seen as having less potential to drive global growth.
Business
China Reports Agreement on Ceasefire between Myanmar’s Factions
Myanmar’s conflicting parties have reached a ceasefire agreement, facilitated by China, aiming to reduce violence and promote peace in the region.
Myanmar Ceasefire Agreement
In a significant development, conflicting parties in Myanmar have reached an agreement for a ceasefire, with China facilitating discussions. This breakthrough is crucial for restoring peace in a nation that has been marred by violence and political strife in recent years. The ceasefire aims to pave the way for reconciliation efforts and improve the humanitarian situation in affected areas.
Role of China
China’s involvement as a mediator highlights its growing influence in resolving regional conflicts. The Chinese government has been working closely with both sides to promote dialogue and trust, crucial elements for a long-term peace solution. Increased stability in Myanmar can benefit regional security and economic development, making China’s mediation significant.
Looking Forward
The hope is that this ceasefire will lead to further negotiations addressing underlying issues in Myanmar. While challenges remain, both parties have expressed willingness to work towards a peaceful resolution. The international community will be watching closely to see if this ceasefire can be sustained and lead to enduring peace for the people of Myanmar.
Business
China Limits Apple Operations as BYD Manufacturing Moves to India and Southeast Asia Amid Trade Frictions | International Business News – The Times of India
China is restricting the export of high-tech manufacturing equipment and personnel to India and Southeast Asia, aiming to maintain domestic production amid potential US tariffs, impacting companies like Foxconn and BYD.
China Curbs on High-Tech Manufacturing
China is intensifying restrictions on the movement of employees and specialized equipment essential for high-tech manufacturing in India and Southeast Asia. This measure aims to prevent companies from relocating production due to potential tariffs under the incoming US administration. Beijing has urged local governments to restrict technology transfers and export of manufacturing tools as part of this strategy.
Impact on Foxconn and Apple’s Strategy
Foxconn, Apple’s primary assembly partner, is facing challenges in sending staff and receiving equipment in India, which could impact production. Despite these hurdles, current manufacturing operations remain unaffected. The Chinese government insists it treats all nations equally while reinforcing its domestic production to mitigate job losses and retain foreign investments.
Broader Implications for India
Additionally, these restrictions affect electric vehicle and solar panel manufacturers in India, notably BYD and Waaree Energies. Although the measures are not explicitly targeting India, they complicate the business landscape. As foreign companies seek alternatives to China, these developments are likely to reshape manufacturing strategies amidst ongoing geopolitical tensions.
Business
EFIS Maroc and China Eastern Airlines Set to Launch Service Between Morocco and China
China Eastern Airlines and EFIS Maroc will launch three weekly flights between Casablanca and Shanghai via Marseille starting January 19, 2025, enhancing cargo logistics for Morocco-China trade, particularly in the automotive sector.
New Flight Route Launch
China Eastern Airlines has partnered with EFIS Maroc to introduce three weekly flights between Casablanca (CMN) and Shanghai (PVG) via Marseille (MRS). This service is set to commence on January 19, 2025, operating on Tuesdays, Fridays, and Sundays, using Boeing 787-900 aircraft with a capacity of 18 tonnes for cargo.
Supporting the Automotive Industry
The service aims to enhance logistical support for the automotive sector, facilitating the secure and timely transport of high-value components between Morocco and China. This new route will not only strengthen local supply chains but also promote economic growth and trade relations between Africa and Asia.
Innovative Cargo Solutions
Jean Ceccaldi, CEO of ECS Group, emphasized that this collaboration marks a significant achievement for EFIS Maroc. Leveraging advanced digital tools like Squair for customs optimization and CargoAi for booking, EFIS Maroc will enhance operational efficiency, ensuring a superior cargo management solution tailored for China Eastern Airlines.
Source : EFIS Maroc and China Eastern Airlines to launch Morocco-China service
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