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HANOI - The Japanese government is supporting a group of Japanese companies in expanding production in ASEAN, according to Takeo Nakajima, Chief Representative of JETRO in Hanoi, Vietnam. Some 15 out of 30 Japanese companies short-listed and supported by METI of Japan will expand investments in Vietnam. SAIGON – MobiFone has made debut 5G networks and services for customers in Ho Chí Minh City, Da Nang and Hai Phong. NAYPYIDAW – The Myanmar investment board approved 154 foreign investment projects during the period of October 2019 to 3 April 2020, bringing 121 manufacturing investments, 12 services and six power supplying projects to Myanmar. SEOUL – Foreigners owned 2.49 million square kilometers of land in Korea as of the end of 2019, 3% more than the year before. Americans owned about 52%, followed by the Chinese, the Japanese and the Europeans. In terms of value, foreigners owned KRW30.78 trillion worth of land, an increase of 2.9%. |
Industry Snapshot
Spotlight
Daihu Eco Park in Jinyunshan, Chongqing restored by China Railway to its natural beauty.
Photo courtesy of China Railway Construction 22 Bureau Fifth Company. 4 Jun 2020
Summer Lotus - staying clear and white out of mud. Photograph taken by Chen Yingwei of CNPC Baoshishun Company, Baoji, Shaanxi, China.
Photo courtesy of CNPC Baoshishun Company. 23 July 2020
What to watch
30 Jul 2020 - The Chinese government has scheduled to open the Fifth Plenary Session of the 19th CPC Central Committee in Beijing this October, setting directions and formulating the 14th Five-Year Plan for National Economic and Social Development (2021-2025).
28 Jun 2020 - Guangxi LiuGong has just delivered 8 sets of crawl loaders to clients in South Africa. 24 Jun 2020 - China will continue to lower tariffs of public utilities, giving a 5% discount on electricity tariffs for industrial and commercial accounts. 15 Jun 2020 – The virtual opening ceremony of the 127th Canton Fair was held in Beijing and kick-started by Premier Li Keqiang today. 8 Jun 2020 – The Phnom Penh branch of Bank of China (Hong Kong) completed the first Renminbi-Riel direct exchange rate quote and foreign exchange for Cambodia, making direct remittance of Renminbi to Cambodia more convenient. |
Allianz Research: The insolvency time bomb - prepare for a record-high increase in global insolvencies
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A matter of fact -
China's 17 pilot free trade zones (FTZs): - Shanghai (approved in 2013) - Tianjin (2014) - Guangdong province (2014) - Fujian province (2014) - Liaoning province (cities of Dalian, Shenyang, Yingkou) - Henan province (Zhengzhou, Kaifeng, Luoyang) - Zhejiang province (Zhoushan) - Hubei province (Wuhan, Xiangyang, Yichang) - Chongqing (Liangjiang, Xiyung, Guoyuan) - Sichuan province (Chengdu) - Shaanxi province (Xi'an) - Shandong province (2019) - Jiangsu province (2019) - Guangxi Autonomous Region (2019) - Hebei province (2019) - Yunnan province (2019) - Heilongjiang province (2019) |
Up-dating China economics
Time: Jan-Jun 2020 China's use of foreign direct investment (FDI) ex-financials: - US$67.93 billion (-4% year-on-year) High-tech services use of FDI: +19.2% of which: - IT services +20.9% - inspection and testing services +8.7% - research and design services +35.7% Source of FDI - Singapore +7.8% - US +6% - ASEAN +5.9% - Hong Kong +4.2% - Belt and Road +2.9% Source: National Bureau of Statistics of China |