Home 

Chinese firms to build more coal power plants in Asia despite Beijing’s pledge for greener Belt and Road Initiative projects

China funds over a quarter of coal power plants with generating capacity of 399 gigawatts under development outside the nation. Here, Chinese men pull a cart in a neighborhood next to a coal-fired power plant in Shanxi, China, on November 26, 2015. Photo: Associated Press Source link

Read More
Money 

‘It all started from Hong Kong’: two of Southeast Asia’s richest men on early success and the belt and road plan’s future

Two of Southeast Asia’s most prominent members of the Chinese diaspora, businessmen Dhanin Chearavanont and Mochtar Riady, took the stage at the Hong Kong Trade and Development Council’s Belt and Road Summit on Wednesday to reminisce about being early investors on the mainland.The tycoons emphasised their belief in China’s economy and President Xi Jinping, and described how Hong Kong had played an essential role in their early successes – and could do so today for investments related to the… Source link

Read More
Home 

Social unrest won’t stop Hong Kong playing a key role in China’s belt and road strategy, say business leaders

Allan Zeman (second left), chairman of Lan Kwai Fong Group, Witman Hung (second right), principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority and Tony Verb (right), co-founder and partner at GreaterBay Venture & Advisors, take part in a panel discussion titled ‘The competition conundrum’, at the South China Morning Post’s China Conference, on Wednesday. Photo: May Tse Source link

Read More
Home 

The trade war has changed US-China ties forever, so Beijing is building bridges to the EU through the belt and road

What if the US-China trade war ends in stalemate, as seems likely? The two countries can hardly revert to the status quo ante or “kiss and make up”. It is not just a matter of bad blood engendered by the conflict; each side now realises that mutual coexistence means distant coexistence (“cold war” if you will). Spheres of influence – political, ideological and economic – are nothing new but the sheer size of the United States and Chinese economies (the world’s biggest and second biggest) and of… Source link

Read More
China 

China’s belt and road cargo to Europe under scrutiny as operator admits to moving empty containers

Widespread waste and fraud associated with China’s Belt and Road Initiative has been unearthed after the country’s state railway group was forced to admit this month that a significant amount of cargo containers shuttling between Chinese factories and European cities were empty.The admission by the state-run China Railway – the sole operator of the lines – followed an investigation by the Chinese Business Journal, a newspaper supervised by the Chinese Academy of Social Sciences, which found… Source link

Read More
Home 

Sinopec Engineering, tasked to deliver on Beijing’s Belt and Road Initiative, thinks it can win Bangladesh project

Sinopec Engineering (Group), a key implementer of China’s Belt and Road Initiative, is confident it can win a bid to expand an oil refinery in Bangladesh, according to its president.“In Bangladesh, we have made relatively concrete progress on a refinery expansion project,” presidentXiang Wenwu told reporters on Monday. “It is at the final tender negotiation stage and we have a relatively good chance of winning the bid.”He would not provide details.India’s The Financial Express newspaper… Source link

Read More
Home 

Malaysia looks to woo Chinese cash with belt and road positivity

Malaysia intends to set up a special, government-helmed channel to facilitate more investment from China, Finance Minister Lim Guan Eng said on Thursday.“We wish to see an increase in Chinese investment with the setting up of a system,” he said after delivering a keynote address at a Malaysia-China Belt and Road Economic Cooperation Forum hosted by the Malaysia China Business Council.Malaysia’s Mahathir backs belt and road but insists on open trade routesMore details will be announced during… Source link

Read More
Home 

Can belt and road plan reverse sagging fortunes of China’s trade war-hit northeastern ports?

For a while, the ports in the northeastern Chinese province of Liaoning have been pinning their future on the success of Beijing’s Belt and Road Initiative, a global trading strategy to link China with rising consumer classes in Asia, the Middle East and Europe.But so far the plan has not turned out to be the game changer they had hoped for, due to fierce competition between China’s many large ports for pieces of the sea-to-rail traffic that the trading initiative has created, as well as… Source link

Read More
China 

China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal

China’s decision last month to allow a Japanese bank to clear transactions valued in yuan raises the prospects of increased economic cooperation between the two countries, especially as China seeks to involve new countries in the Belt and Road Initiative in an attempt to fend off criticisms of its projects, analysts said.The People’s Bank of China last month named MUFG Bank as the first yuan clearing bank in Japan, and only the second non-Chinese bank after JPMorgan last year, to be allowed to… Source link

Read More
Home 

Global fund managers expanding in Hong Kong with eye on Greater Bay Area and Belt and Road Initiative

International fund companies are unfazed by the protests that have wracked Hong Kong for more than a month, focusing instead on the potential of the Greater Bay Area and the Belt and Road Initiative.US fund manager Federated Investors, with US$485 billion worth of assets under management as well as its 60 per cent owned British fund house Hermes Investment Management, both plan to continue to expand in Hong Kong as part of their long-term strategy in Asia.Hong Kong has seen many protests since… Source link

Read More