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Making Shanghai, HK, and Shenzhen Star Financial Centers in the 21st Century

By Wen Sheng   Bolstered by the excessive liquidity in the market to support pandemic-stricken economies and enterprises, major stock markets, from New York and Tokyo to Hong Kong and Shanghai, have boomed in recent months. This once again proves that liquidity is king for the capital market.    The CSI300 index, tracking the 300 biggest traded companies in China's two bourses in Shanghai and Shenzhen, surpassed its 2015 peak in January 2021, after jumping an impressive 28 percent last year. A growing number of investors, from within China and abroad, are pinning high hopes on a continuous significant rally...

Incentives Pay Off as Dubai's DMCC Takes in Record 2,025 New Companies in 2020

Its incentives and one-off offers were taken up by 8,000 existing member companies   By Gulf News Report   Dubai: The incentives seem to be paying off, with Dubai's free zone DMCC confirming a ‘record-breaking’ intake of 2,025 new companies in 2020 - its highest in five years.   The gains were primarily due to the Business Support Package’ launched in March, introduced after the pandemic broke. “This was the business hub’s largest ever commercial offer, offering a wide range of incentives and value-added services to both existing and new companies in the free zone,” the Dubai Multi Commodities Centre said...

UK applying to join Asia-Pacific free trade pact CPTPP

By Dharshini David   The UK will apply to join a free trade area with 11 Asia and Pacific nations, a year after it officially left the EU.   Joining the group of "fast-growing nations" will boost UK exports, the government says.   The Comprehensive and Progressive Agreement for Trans-Pacific Partnership - or CPTPP - covers a market of around 500 million people.   But they are harder to reach than neighboring markets in Europe.   Members include Australia, Canada, Japan, and New Zealand.   Brunei, Chile, Malaysia, Mexico, Peru, Singapore, and Vietnam are also founder members of the bloc, which was...

How Can Overseas Industrial Parks Open a New Chapter of the Belt and Road?

By Loletta Chow   The Belt and Road Initiative will deepen international cooperation and advance economic growth in countries along the route.   Today, China's overseas industrial parks have become an important medium to promote B&R development and international capacity cooperation. The overseas industrial parks effectively encourage China's advantageous industries to “go abroad”. For host countries, these industrial parks have attracted more Chinese enterprises to invest and build factories in their countries, which will not only drive employment and tax revenues, expand exports and foreign exchange, but also strongly promote their industrialization and upgrade of industries.   The overseas industrial parks...

Foreign Investors Pile Back Into Booming China

By Thomas Hale   Beijing says the country is a ‘safe harbor’ after its rapid recovery from the pandemic   Ivanhoé Cambridge, a group that invests in international property on behalf of the Quebec state pension system, had already put $2bn into China’s logistics sector over the past few years. In June, as coronavirus was raging across the world, it decided to add another $400m to the total. “We’ve certainly been trying to increase our exposure to logistics in China as quickly and as responsibly as we can,” said George Agethen, senior vice-president, Asia Pacific, at the Canadian company, who points...

Amundi Expands in China as Beijing Further Opens Up Asset Management

By Thomson Reuters   SHANGHAI (Reuters) - Amundi, Europe's largest asset manager, launched a wealth management venture in Shanghai on Wednesday and plans to set up an outbound investment business in Beijing as China opens its doors wider to global asset managers.   The French company, which already owns a mutual fund venture in China, is capitalizing on a new round of financial opening by Beijing that also galvanized other global asset managers such as BlackRock.   "You don't have a single market in the world where you see global asset managers are positioning themselves so proactively, and so resourcefully," said...

Zimbabwean president urges Chinese investment in Zimbabwe's tourism sector

Zimbabwean President Emmerson Mnangagwa urged Chinese investors to invest in Zimbabwe's tourism sector and help turn the southern African country into a competitive tourist destination. He made the remarks on the occasion where a visiting delegation from China's Zhejiang Province and the Zimbabwean government officials and business leaders witnessed the signing of a twinning arrangement between Zimbabwe's Chinhoyi City and China's Dongyang City. He said Zimbabwe possesses vast tourism opportunities which if fully harnessed, could help the country in its quest to become an upper middle income economy by 2030. It emerged at the meeting that Zimbabwe had set aside...