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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

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HSBC forum hears the Greater Bay Area is poised to deliver new business

[Sponsored article]There are excellent opportunities for Hong Kong companies in the Guangdong-Hong Kong-Macao Greater Bay Area, HSBC Greater China Chief Executive Helen Wong Pik-kuen said during a seminar on May 30.Wong said HSBC emphasised the importance of the region because it was the most economically vibrant area in southern China. “The Greater Bay Area is a very rich region, and the GDP per capita of Pearl River Delta is 2.2 times the average in mainland China,” Wong said at the forum to… Source link

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China, Hong Kong markets boosted by upbeat sentiment that Xi-Trump trade discussions will deliver positive results

Stocks in Hong Kong and mainland China rallied on renewed optimism that some signs of progress will be seen in the much-anticipated meeting between presidents Xi Jinping and Donald Trump on Saturday.The Shanghai Composite Index rose 0.7 per cent to 2996,79, while the CSI 300, which tracks blue chips listed on Shanghai and Shenzhen, rose 1.1 per cent to 3,834.82.Liquor stocks were big gainers. And Kweichow Moutai, a popular baijiu maker with northbound traders, shot above 1,000 yuan in intraday… Source link

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Will stock picking managers help deliver US$85 billion to China’s A-share market?

As global indices compiler MSCI increases the weightage of Chinese A shares in its gauges, it remains to be seen if stock picking managers, who last month pulled record levels of capital out of China’s domestic stock market through the stock connects, will bolster their positions and increase there exposure.Investment banks have forecast that as much as 80 per cent of a potential US$70-$85 billion in net inflows into A shares this year, on the back of the increase in MSCI weightage, could come… Source link

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China 

China is a ‘kung fu master’ and can deliver ‘deadly punch’ to US economy in trade war, former official says

Liu He, China’s Vice-Premier, waves while departing the Office of the US Trade Representative following a meeting with Robert Lighthizer, USTR, from right, and Steven Mnuchin, US Treasury Secretary, in Washington, DC, US, on Friday May 10, 2019. Photo: Bloomberg Source link

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To end the trade war, China must deliver on its promises to reform, open up, observers say

China should fully commit to reform and opening up if it wants to resolve its trade tensions with the United States, while both sides should face the reality of their changing relationship, business leaders and diplomatic observers said. Beijing’s dispute with Washington was not formed in one day and would not be easy to resolve, said He Ning, a former Chinese commerce ministry official dealing with US issues. But Beijing should reflect on whether it had truly delivered on the promises it made on joining the World Trade Organisation (WTO)…

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