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Promoting SME globalization on the world stage

Economic relations between China and Cote d’Ivoire are set to deepen, as t

he latter became the first African country to co-host the 13th China International Small and Medium En

上海品茶微信女神会所terprises Fair that takes place in Guangzhou, capital of Guangdong province, from Oct 10 to 27.

Azoumana Moutaye, head of the country’s Ministry of National Entrepreneurshi

p, Handicrafts and Promotion of SMEs, said China and Cote d’Ivoire jointly organizing the interna

tional event indicated that bilateral relations between the two countries has reached a new peak.上海品茶微信

Cote d’Ivoire, with a population of around 23 million, has become one of Africa’s most resurgent economies in recent ye

ars. Its economy will be the second-fastest growing in the world this year, as predicted by the International Monetary Fund.上海品茶微信女神会所

About 60 Ivorian enterprises led by Moutaye have participated in the exhibition, showcasing

and promoting their products in such industries as agriculture, communication, energy, construction and logistics.

Promoting SME globalization on the world stage上海品茶微信女神会所

Another foreign co-host is India. Following Russia, it is the second BRICS country that is involved in organizing the fair.

Indian Minister of Micro, Small and Medium Enterprises Kalraj Mishra hoped the fair would be上海品茶微信

tter promote the cooperation between Chinese and Indian SMEs and help them achieve more substantial results.

上海品茶微信女神会所Small and medium-sized companies play a big role in India’s economic development, as 95 percent of the country’s companies are SMEs.

During the fair, textiles, machinery and equipment, hardware and electrical appliances and other goods from 124 Indian firms will be displayed.

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mainland would su上海品茶微信女神会所seas high-end tale

lent and profes上海品茶微信女神会所sionals in short supply will receive subsidies from the Guangdong provincial and Shenzhen city governments to offset the differential.

Companies have to review their pay scales

However, companies operating on the mainland also need to review their pay scales. Internatio

nally, employers offer higher salaries, on average, compared with those offered on the mainland.

Second, policies are being introduced to encourage freer flow of people

across the region. Which will ease visa and travel concerns for multinational companies’ emp

loyees, and provide more cross-regional opportunities for skilled employees willing to embrace a pan-GBA persp

ective. Senior executives in the tech sector can live in Hong Kong or Macao and work in southern mainland cities, or vi

ce-versa. It’s not unusual to see cross-border workers filling immigration halls every morning.

deng-di.cn

One of the purposes of China opening up its capital acco

ount is to effect上海品茶微信女神会所ively use international resources, improve Chinese enter-prises’ co

mpetitiveness in the global markets, adjust its economic structure and change its economic d

evelopment model from quantitative growth to innovation-led qualitative development.

Supply-side structural reform key to progress

China should also deepen its financial system reform and accelerate the opening up of its capital account, because only

by deepening the financial sector’s supply-side structural reform can it improve its financial services en

vironment, meet the financing needs of its real economy, and become a leader in the global financial sector.

Since the yuan’s internationalization is an irreversible trend, China should take meas

ures to make the yuan a major international currency, expand its international influence. On the

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The 5.1 percentage point growth of leverage ratio is

s out of ou上海品茶微信女神会所r expectations, and it was maintained because of countercyclical policies,” said Zhang Xiaojing, a senior economist with the CASS.

But the deleveraging process should continue, and more measures will be introduced to ease the debt burden, especially

for the private sector, said Lian Weiliang, deputy head of the National Development and Reform Commission.

One of the key measures is to further promote the debt-to-equity s

wap program, to inject more social funds into indebted companies through holding the co

mpanies’ shares, the NDRC official said. “We will choose more qualified private companies to join this program.”

By the end of April, the total value of debt-to-equity swap reached 2.3 trillion yuan ($332.8

billion). More than 20 percent was for the centra上海品茶微信女神会所l State-owned enterprises, inclu

ding China Baowu Steel Group Co Ltd, State Power Investment Co Ltd, and China Shipbuilding Industry Corp, acc

ording to data from the State-owned Assets Supervision and Administration Commission.

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Last month, the central government issued a guideline on

promoting the application of e-buses, by supporting technology innovation, improving fiscal

and taxation policies, enhancing infrastructure construction, as well as reinforcing fund supervision.

“It is estimated that in the future, China’s e-bus market will transform to a more market-driven pattern, instead of policy-driv

en. The market will shift from an incremental market to a stock market, maintaining steady growth,” he said.

Bloomberg New Energy Finance estimates that EVs will attain price parity by the mid 2020s, as lithium battery pric

es have been falling. From 2010 to 2018, lithium battery prices dropped by over 85 percent, with an annual average decl

ine rate of 20 percent. And the decline, with the same rate, is estimated to continue for the next few years.

euitdm.cn

Responding to a question on China’s considerations behin

 behind sending Wei to this year’s Shangri-La Dialogue, Wu said that China chooses the head of its delegation in accordance with the situation.

He added that China and the United States are in active talks on whether Wei will meet Patrick M. Sha

nahan, acting US secretary of defense, during the event and information on that will be published later.

Wei has been in Singapore since Tuesday and has met with leaders of the Singaporea

n government as part of his visit to the Southeast Asian nation, Singapore media reported.

Zhao Xiaozhuo, a senior researcher of international military relatio

ns at the PLA Academy of Military Science, said that the attendance of Wei, as the second part

icipation of a Chinese defense minister to the Shangri-La Dialogue, shows that China plac

riuy8.cn

China is the world’s largest producer of rare earths, acco

counting for about 80 percent of global supply. However, the country’s rare-earth industry is faced with such pro

blems as rapidly decreasing inventory, inefficient production and environmental pollution.

Analysts also said that the low prices of China’s exports have failed to reflect the real value of the precious resource.

The division of labor of the global rare-earth industry should be coo

rdinated in accordance with the principle of opening-up and sharing, the NDRC said.

While the country prioritizes the domestic use of rare-earth meta

ls, it is willing to see its exports help drive the development of global industries, it said.

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The strong earthquake was also felt in parts of Ecuador

 FTSE Russell, a leading global multi-asset index, data and analytics provider, said Satur

day that it will add Chinese A shares to its widely-tracked global benchmarks next month.

The addition will be officially effective after the close of share markets on June 24.

According to the plan of FTSE Russell, this move marks the first stage of incorporatin

g Chinese shares into its indexes. In this stage, 1,097 Chinese stocks, or 20 percent of A shares, will be bro

ught into the indexes, drawing an expected $10 billion from passive investors.

FTSE Russell will add 40 percent of A shares to its indexes in September, and another 40 percent in March next year.

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ietnam surpassed India to become the largest buyer of Chin

a’s photovoltaic products. Export value to Vietnam rose 239 times to $739 million in the fi

rst quarter, taking up 16.8 percent of China’s total photovoltaic export value.

With the European Union ending its anti-dumping and anti-subsidy meas

ures, photovoltaic exports from China to Europe also saw large increase in Q1.

The country’s photovoltaic products export volume to the Netherlands and Spain increased 1,049.6 percent and 158.3 perc

ent, respectively, in the first quarter, said the report. It predicted that the emerging markets, such as Mexico, Aus

tralia, Turkey, and the United Arab Emirates will further boost the export of China’s photovoltaic modules.

The export of China’s photovoltaic products to the United States dropped 28.9 pe

rcent to just 0.01 GW in the first quarter, the report said. The Section 201, Section 3

www.fanxgq.cn

Weaker economic growth puts at risk essential invest

ments in areas such as education, health, climate change adaptation and sustainable infrastructure.

The growth outlook in all major developed economies and most developin

g regions has weakened due to a confluence of both domestic and external factors, the report said.

Following an expansion of 3 percent in 2018, world gross product growth is now projected to moderat

e to 2.7 percent in 2019 and 2.9 percent in 2020, reflecting a downward revision from the forecasts released in January.

The report identifies several downside risks that could trigger a sharper or more prolonged growth slowdown, potentially infl

icting significant damage on development progress. Those risks include a further escalation in trade te

nsions, a sudden deterioration in financial conditions, and the accelerating effects of climate change.

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