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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%.
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
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%
- 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