Economics
China: how have farmers benefited from the World Bank Integrated Modern Agriculture Development Project?
On a warm, rainy day in Shantian Village of Luo Fang Town in Jiangxi Province, farmer Liu Jian, along with five other locals, welcomed our World Bank mission team, including technical experts from the Investment Centre of the Food and Agriculture Organization (FAO), into his home.
All six have benefited from the Integrated Modern Agriculture Development Project (IMAD) Project since 2014, when implementation began by the County Office for Comprehensive Agriculture Development.
The project focuses on developing sustainable and climate-smart agriculture in six provinces across China. In Shantian Village, the project has funded new and improved irrigation systems, showcased farming practices that enrich the soil without the use of chemicals, introduced new crop varieties, and helped train farmers on how to increase crop yields while also protecting the environment.
One of the new practices introduced by the project is “no-tillage” seeding in rice paddies. “We were skeptical at first, so we each only tried it on a small amount of land,” farmer Liu Jian recalled, “Then we found it worked much better.”
Another farmer, Liu Daigeng, nodded in agreement: “It is less labor intensive, and the new crop varieties bring better yields and higher prices. We’ll still change the variety after a couple of years, but right now this [new variety] works best for us.”
Similar stories were told at another meeting with farmers from Hengdong County’s Evergreen Cooperative in Hunan Province, where the project helped them improve their irrigation and drainage systems. As a result, irrigation water has become more consistently available, and farmers could better plan their crops.
At a nearby vegetable cooperative, the project helped set up a cold storage facility to help preserve produce and provided training on how to better market, package, and add value to the peppers that the farmers were selling.
In the Shanzhang Town of Hengdong County, the project helped the Gifu Water Users’ Association construct a new canal and buy pump and other irrigation and drainage infrastructure. It also helped train farmers on how to manage and preserve the village’s water system. This investment benefited 97 percent of the households in the area, who previously had no consistent access to irrigation water due to broken canals and changes in weather patterns. Farmers have also begun adopting climate smart practices like alternate wetting and drying for rice paddies, which reduces emissions of greenhouse gases.
Our World Bank mission team, with technical assistance from the FAO Investment Centre, also held a three-day National Workshop on Sustainable and Climate-Smart Agriculture for 110 participants, including project management staff, engineering design contractors, and monitoring and evaluation specialists in Chongqing Municipality.
Our subsequent field visits to Kaixian, Hengdong, and Yushui show that the IMAD Project has helped improve farmers’ resilience to climate change through improved irrigation systems and…
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
Business
News Update: China’s Stimulus Falls Short; Sensex and Nifty Decline; Bitcoin Surges Over $82,000
Asian markets showed mixed trends amid China’s stimulus measures and disappointing inflation data. Meanwhile, Indian equities remained stable, with mutual fund inflows rising. Bitcoin surged following Trump’s presidential win.
Business Hook Daily News Podcast
Good evening! Welcome to Business Hook’s daily news podcast. I’m Avni Raja, and today is November 11, 2024. Let’s dive into the day’s top business stories.
Market Reactions and Economic Data
Asian markets experienced a mixed session as investors digested new economic data and stimulus measures from China. The Chinese government announced a $1.4 trillion package targeting local government debt, although analysts deemed it underwhelming. October’s inflation rate of 0.3% fell short of estimates and declined for the second month in a row. As a result, the CSI 300 saw a slight gain, while Hong Kong’s Hang Seng dropped over 1.5%. In India, the Sensex closed below 74,500, and the Nifty ended above 24,100, with a majority of Nifty stocks declining.
Mutual Fund Inflows and Upcoming IPOs
There’s encouraging news in the mutual fund sector, with October seeing net inflows of 2.4 lakh crore rupees, reversing the previous month’s outflows. Record equity inflows have risen to nearly 42,000 crore rupees, reflecting robust domestic investor confidence. In the IPO space, LG Electronics prepares to raise $1.5 billion by listing its Indian arm, with banks like Axis Capital involved in the process, potentially leading to an IPO as early as 2025.
Cryptocurrency Surge
In cryptocurrency news, Bitcoin has achieved new highs, surpassing $82,000. This surge is attributed to Donald Trump’s recent presidential victory, which has favored cryptocurrencies compared to more cautious Democratic approaches. Experts speculate that Bitcoin could surpass $90,000 soon. That’s all for today’s wrap-up. Join us again tomorrow, and check out the Business Hook YouTube channel for more updates.
Source : News Wrap | China Stimulus Disappoints; Sensex & Nifty Slip; Bitcoin Soars Past $82,000
Business
Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
Henry Keswick, 86, a key figure in Jardine Matheson, passed away as the U.S. awaited election results, amid heightened tensions in U.S.-China relations during Trump’s presidency.
Henry Keswick’s Legacy
HONG KONG — The world turned its attention to the U.S. presidential election as news broke of Henry Keswick’s passing at the age of 86. A fourth-generation member of the British conglomerate Jardine Matheson, Keswick had a profound influence on the company, which has deep roots in Asia.
Navigating Challenges
Keswick’s leadership spanned significant challenges, including a strained relationship between the U.S. and China, particularly as Donald Trump prepared for his return to the White House. Under his stewardship, Jardine Matheson navigated a complex landscape in retail and real estate that dovetailed with geopolitical shifts.
A Lasting Impact
His contributions to Jardine Matheson and the broader business community have left an indelible mark. As companies reposition themselves amidst evolving international dynamics, Keswick’s legacy will undoubtedly continue to shape the future of the conglomerate he led.
Source : Henry Keswick, the Jardines scion who razed then restored China business
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