Category Archives: Business

business news from China, Sweden and the world.

China urges nations to speed up negotiation for Paris climate summit

BEIJING, Sept. 8 (Xinhua) — China on Tuesday called on all countries to speed up negotiations to reach accord at the UN climate summit in Paris at the end of the year.

Foreign Ministry spokesperson Hong Lei told a daily press briefing that China appreciates France’s efforts so far for hosting the summit.

“China looks forward to French President Francois Hollande’s visit to China in November. Both sides are in close communication on the visit,” said Hong.

China is willing to work with all parties to help the summit reach a comprehensive and balanced accord on the principle of common but differentiated responsibilities, equity and respective capabilities, Hong said.

According to China’s intended nationally determined contributions (INDC), an action plan submitted to the secretariat of the UN framework convention on climate change in June, the world’s largest greenhouse gas emitter aims to cut carbon dioxide emissions per unit of GDP by at least 60 percent from the 2005 level by 2030.

The latest round of negotiations on climate change concluded Friday in Bonn, Germany with progress seen by developing countries as slow, putting pressures on negotiators who will come back next month to continue thrashing out a global climate deal.

There is only one official meeting left for negotiators before they head for Paris to clinch the new climate deal which will set rules for actions to prevent global warming above 2 degrees Celsius after 2020.

“As there is not much time left before the summit, all parties need to speed up the negotiation with utmost sincerity so as to build consensus to the greatest extend,” Hong said. Enditem

 

China still attractive to European firms: European Chamber

BEIJING, Sept. 8 (Xinhua) — China remains attractive to European companies, the European Union Chamber of Commerce in China (European Chamber) said, though rising wages and slower growth have led to worries about the emerging economy.

“Despite a challenging business environment, China still offers significant potential to European companies, including small and medium-sized enterprises,” said the chamber’s position paper released Tuesday.

Twenty-five percent of European firms have a research center in China, and 85 percent of those are likely to increase their presence in the near future, demonstrating China’s importance to the long-term strategies of European companies, the report said.

Facing downward pressure and pains from an economic overhaul, China’s economy expanded 7 percent in the first half of the year, the lowest reading since the 2008 global financial crisis.

The chamber said China should stick to bold reform pledges in a bid to tackle challenges from lower growth and ensure a successful rebalancing of the economy.

The European Chamber, founded in 2000, is an independent non-profit organization and has nearly 1,800 members in China. Enditem

 

China to curb speculation in forward forex transactions

BEIJING, Sept. 8 (Xinhua) — China’s new measure requiring commercial banks to pay risk deposit for forward foreign exchange sales aims to raise the cost of forex speculation and avoid excessive fluctuation, the central bank said Tuesday.

The People’s Bank of China (PBOC) announced last week that commercial banks will have to pay a 20 percent deposit for their forward forex sales to companies as of Oct. 15.

In forward exchange sales, commercial banks agree to sell a foreign currency to a company at a specific time in the future to help the company ward off risks from exchange rate fluctuations.

The new move is conducive to curbing excessive fluctuation on the forex market, preventing financial risks and promoting prudent operation of banks, the PBOC said in an online statement.

This measure was rolled out as forward exchange sales from commercial banks surged to three times as high as the monthly average of the first seven months in August. “It shows there were speculative transactions,” the PBOC said.

On Aug. 11, the central bank decided to let the market have a greater say in forming the yuan’s central parity rate against the U.S. dollar, leading to a depreciation of more than 4 percent last month.

The measure is not capital control as it does not restrict transaction volume, nor does it require approval for each single transaction, the PBOC said.

The deposit allows banks to make preparations for their possible losses in the future, curbing speculative transactions and raising the overall cost, the central bank said. Enditem

 

 

 

 

 

NLSDAYS 2016 to be held on September 13-15

By Xuefei Chen Axelsson

Stockholm, Sept. 11(Greenpost)–At the end of 2015 Nordic Life Science Days, it was announced that the 2016 NLSDAYS is scheduled to be held on Sept. 13-15.

IMG_0465Jonas Ekstrand told Green Post that this was the third year that NLSDAYS was held in Stockholm, the largest event in life science field in the Nordic region.

The conference is a platform to provide business development and cooperation opportunities for academia, researchers, clinics and manufacturers.

This year showed the largest number of delegates and companies compared with the previous two years. Unfortunately the Chinese group wasn’t able to come due to the failure of getting visas.

Of course Chinese National Medicine Administration delegates had a look at the conference.

This year set up a lot of face-to face talk rooms so that people can really effectively talk with each other.

IMG_0485 IMG_0492At the end of the conference, Nordic Stars Awards were awarded to AMRA, BerGenBio and Nexstim companies.

China to curb speculation in forward forex transactions

China to curb speculation in forward forex transactions

 

BEIJING, Sept. 8 (Xinhua) — China’s new measure requiring commercial banks to pay risk deposit for forward foreign exchange sales aims to raise the cost of forex speculation and avoid excessive fluctuation, the central bank said Tuesday.

The People’s Bank of China (PBOC) announced last week that commercial banks will have to pay a 20 percent deposit for their forward forex sales to companies as of Oct. 15.

In forward exchange sales, commercial banks agree to sell a foreign currency to a company at a specific time in the future to help the company ward off risks from exchange rate fluctuations.

The new move is conducive to curbing excessive fluctuation on the forex market, preventing financial risks and promoting prudent operation of banks, the PBOC said in an online statement.

This measure was rolled out as forward exchange sales from commercial banks surged to three times as high as the monthly average of the first seven months in August. “It shows there were speculative transactions,” the PBOC said.

On Aug. 11, the central bank decided to let the market have a greater say in forming the yuan’s central parity rate against the U.S. dollar, leading to a depreciation of more than 4 percent last month.

The measure is not capital control as it does not restrict transaction volume, nor does it require approval for each single transaction, the PBOC said.

The deposit allows banks to make preparations for their possible losses in the future, curbing speculative transactions and raising the overall cost, the central bank said. Enditem

 

 

 

 

China still attractive to European firms: European Chamber

 

BEIJING, Sept. 8 (Xinhua) — China remains attractive to European companies, the European Union Chamber of Commerce in China (European Chamber) said, though rising wages and slower growth have led to worries about the emerging economy.

“Despite a challenging business environment, China still offers significant potential to European companies, including small and medium-sized enterprises,” said the chamber’s position paper released Tuesday.

Twenty-five percent of European firms have a research center in China, and 85 percent of those are likely to increase their presence in the near future, demonstrating China’s importance to the long-term strategies of European companies, the report said.

Facing downward pressure and pains from an economic overhaul, China’s economy expanded 7 percent in the first half of the year, the lowest reading since the 2008 global financial crisis.

The chamber said China should stick to bold reform pledges in a bid to tackle challenges from lower growth and ensure a successful rebalancing of the economy.

The European Chamber, founded in 2000, is an independent non-profit organization and has nearly 1,800 members in China. Enditem

 

Cities alongside ‘Belt and Road’ set up cooperation alliance of cross-border e-commerce, logistics

LANZHOU, Sept. 9 (Xinhua) — Fifty-eight cities, organizations and corporations in the regions under China’s ‘Belt and Road’ initiatives have established an alliance for cross-border e-commerce companies to enhance the communication and cooperation.

Initiated by Lanzhou city of northwest China’s Gansu province, the alliance aims to boost the infrastructure construction of cross-border e-commerce and logistics passage among cities under the ‘Belt and Road’ initiatives, improve the intercity transport network construction, in a bid to facilitate economic and trade cooperation among the regions. Enditem

China implementing new round of high-level opening-up: FM spokesman

BEIJING, Sept. 9 (Xinhua) — A Foreign Ministry spokesperson on Wednesday said China will continue to promote reform and opening-up and will open wider to the outside world.

Spokesperson Hong Lei made the remarks in response to a report released by the European Union Chamber of Commerce in China on Tuesday.

The main European business lobby in China warned that “slow” implementation of market reform measures risks plunging the country into stagnation.

Hong said that reform and opening-up is China’s basic policy, adding China will stick to growing its economy through reforms, carry out structural reforms and keep its gross domestic product (GDP) growth at about 7 percent.

“China is implementing a new round of high-level opening-up and will open wider to the outside world,” Hong said, noting that the government will continue to take more measures to protect intellectual property rights and facilitate market access and financial service.

Hong said China will continue to create a fair competitive market environment for both domestic and overseas companies, treating them with equal standards.

The European Union is a comprehensive strategic partner of China and also China’s largest trade partner, Hong said, expressing firm belief that the China-EU economic and trade relationship will become stronger in the process of China’s reform and opening up. Enditem

 

China to draw international experience in urbanization

DALIAN, Sept. 9 (Xinhua) — Premier Li Keqiang on Wednesday welcomed deeper cooperation between developed and developing nations to improve China’s urban development and planning.

“Each and every country has its own unique strengths, or comparative strengths, in its urbanization process,” Li told business leaders during the annual meeting of the New Champions, also known as the Summer Davos Forum.

Noting China’s urbanization rate at only 55 percent, the premier said China’s urbanization remains a long-term process and will provide vast room for domestic demand.

Acknowledging challenges in rapid urbanization, Li said China will press ahead with the large-scale renovation of low standard housing, where about 100 million urban residents deserve modern living conditions.

The premier added that China is developing underground infrastructure, with latest progress having been made in underground urban utility pipeline networks.

The Summer Davos Forum is being held from Sept. 9-11 in China’s northeastern city of Dalian. Li is expected to give a keynote speech on Thursday. Enditem

Swedish PM says we cannot live without water

By Xuefei Chen Axelsson

Stockholm, Sept. 7(Greenpost)–Swedish Prime Minister said at the World Water Week that man cannot live without water.

Filmed by Anneli Larsson on Aug. 24, 2015 in Stockholm.

He stressed the importance of having clean water for life. He also recalled the journey of Sweden’s history of cleaning water.

He called on the people all over the world to join hands to provide clean water and face climate change.

China lowers minimum capital requirement for fixed-asset investment

BEIJING, Sept. 1 (Xinhua) — China’s State Council, the cabinet, decided on Tuesday to lower the minimum capital requirement for fixed-asset projects in a bid to boost investment in public goods and services.

The minimum capital ratio of key projects of ports, costal and river transportation, and airports has been lowered to 25 percent from 30 percent. The minimum capital ratio of railroad, highway and urban rail projects decreased to 20 percent from 25 percent.

In addition, the government has changed the minimum capital requirement for corn further processing projects from 30 percent to 20 percent.

However, the State Council said industries with excessive capacity would still face high capital ratios between 30 percent and 40 percent. (Edited by Huang Xiaolan, huangxiaolan@xinhua.org)

 

China to set up RMB60 bln SME development funds

BEIJING, Sept. 1 (Xinhua) — The State Council, China’s cabinet, pledged to establish national small- and medium-sized enterprises (SME) development funds, said a statement released after a State Council executive meeting presided over by Premier Li Keqiang on Tuesday.

imagesThe move aims to stimulate the impetus of entrepreneurship and innovation, alleviate the financing difficulties faced by SMEs and enlarge employment.

According to the statement, the central government will contribute 15 billion yuan and establish a national SME development funds boasting a total scale of 60 billion yuan under the participation of private enterprises, state-owned enterprises, financial institutions and local governments.

The funds, which adopt limited partnership, will be operated under marketization mode. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)

 

 

China’s Alibaba seeking to boost Latin America presence

 

BUENOS AIRES, Sept. 1 (Xinhua) — China’s e-commerce giant, Alibaba, is seeking to increase its presence in Latin America, according to Michael Lee, the firm’s head of international marketing and business development, on Tuesday.

This expansion will primarily be centered on Argentina and Brazil, where the company has recently been growing, said the executive.

Lee made this declaration in Buenos Aires during a conference organized by the Latin American Institute for Electronic Commerce and Argentina Chamber for Electronic Commerce.

“South and Central America account for six percent of our total revenue, but this has grown a lot, especially in Brazil and Argentina,” said Lee.

To capitalize on this growth, Alibaba recently launched versions of its site in Spanish and Portuguese to better cater to customers in the region.

Furthermore, Ali Express, one of Alibaba’s online platforms, has recently shown considerable staying power in Brazil, Chile and Mexico. In July, it actually led the ranking of international e-commerce sites in terms of visits from Brazil.

This platform, which has a history of seeking to adapt its offering to the local market, has become an important e-commerce bridge between China and Latin America, Lee added.

“Alibaba is a global company headquartered in China. We carry over 100,000 suppliers and manufacturers and see transactions in the billions of U.S. dollars a day. We are building up trust..e-commerce creates unlimited opportunities for all,” he noted.

Alibaba now has 40 million registered users in over 190 countries, making it one of the uncontested leaders of international e-commerce. In September 2014, Alibaba.com was listed on the New York Stock Exchange, becoming the largest global IPO of all time. Enditem

 

Regulators discuss draft integrated plans for Hainan’s development

BEIJING, Sept.2 (Xinhua) — Representatives from China’s top government bodies met on Saturday in Haikou, the capital city of southern China’s Hainan province, to discuss a draft plan on integrated local development.

IMG_6561 IMG_6597 The plan is part of the trial program that aims to coordinate the planning system on a provincial level in order to eliminate incompatibilities between plans issued by different government departments.

After the meeting, Hainan local government will make some revisions and a consultation to seek views before publishing the final plan.

Such efforts by Hainan and relevant experiences will be introduced to other parts of China if proven successful.

In an attempt to improve policy coordination, China in June selected Hainan to pilot a trial program encouraging rational use of land and better environmental protection. (Edited by Ding Lei, dinglei@xinhua.org)

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China to advance building graded diagnosis and treatment system

BEIJING, Sept. 2 (Greenpost) — China will advance building a graded diagnose and treatment system to deepen healthcare reform, according to an executive meeting of the State Council presided over by Premier Li Keqiang.

China will expand medical service capabilities of not only major medical institutions but also county-level public hospitals.

Also, the country will integrate medical resources such as examination, testing and disinfection supply while advancing cross-recognition of examination and testing results as well as patient transfer among hospitals of different levels, according to the meeting.

The country also encourages the elderly, children, pregnant and lying-in women as well as patients with chronic diseases to sign primary family doctors or rural doctors voluntarily to receive basic medical treatments. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)

Source Xinhua

Editor Xuefei Chen Axelsson