https://www-scmp-com.libproxy1.nus.edu.sg/rss/516649/feed The initiative spearheaded by the Chinese government and endorsed by President Xi Jinping in late 2013 aims to improve trade and economic integration across Asia, Europe, and Africa. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www-scmp-com.libproxy1.nus.edu.sg If you would like to see more of our reporting, please consider subscribing. 1. Father of Likonomics, Li Keqiang, fondly remembered Former premier Li Keqiang, who served as premier from 2013-23 and guided China’s economy through a difficult period, died in Shanghai at the end of October at the age of 68. China’s charismatic, truth-telling ex-premier mourned as reforms hang in the air Li was fondly remembered for his economic tactics, known as “Likonomics” that featured efforts on deleveraging,... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3239807/li-keqiang-gdp-and-trade-pick-belt-and-road-forum-8-things-chinas-economy-october?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3239807/li-keqiang-gdp-and-trade-pick-belt-and-road-forum-8-things-chinas-economy-october?utm_source=rss_feed Tue, 31 Oct 2023 23:00:42 +0000 As the US and China continue their stand-off over the latter’s rising technological capacity – and control over the minerals critical for tech production and development becomes a question of paramount importance – Beijing has intensified its efforts to build partnerships with countries taking part in its Belt and Road Initiative to ensure a steady, stable supply chain for these essential raw materials. The world’s second-largest economy secured mineral cooperation deals with more than 10... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3239009/china-turns-belt-and-road-countries-race-secure-tech-critical-minerals?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3239009/china-turns-belt-and-road-countries-race-secure-tech-critical-minerals?utm_source=rss_feed Tue, 24 Oct 2023 16:00:10 +0000 Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world. Sign up now! Despite growing questions about the Belt and Road Initiative, President Xi Jinping told world leaders this week that Beijing remains committed to investing more and has a new vision for the signature project as it enters its second decade. As the country’s biggest and arguably most important diplomatic charm offensive this... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3238949/global-impact-xi-jinping-vladimir-putin-top-bill-china-pledges-us107-billion-belt-and-road?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3238949/global-impact-xi-jinping-vladimir-putin-top-bill-china-pledges-us107-billion-belt-and-road?utm_source=rss_feed Tue, 24 Oct 2023 06:00:21 +0000 China has pledged 780 billion yuan (US$106.6 billion) in new financing for its Belt and Road Initiative – a modest figure compared to previous years, according to observers, but with the potential to deliver more bang for the buck as Beijing pivots its signature global infrastructure strategy towards “small yet smart” projects. At the Belt and Road Forum for International Cooperation in Beijing last week, President Xi Jinping said China would allocate 350 billion yuan to the China Development... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3238840/chinas-belt-and-road-pivots-small-yet-smart-projects-modest-us107-billion-financing-pledge?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3238840/chinas-belt-and-road-pivots-small-yet-smart-projects-modest-us107-billion-financing-pledge?utm_source=rss_feed Mon, 23 Oct 2023 04:00:32 +0000 Last week’s contrasts could not be more stark. While the United States, Europe and the Western media pushed the Ukraine war off the front pages to focus on the atrocities occurring in Israel and the Gaza Strip, dozens of leaders from the Global South gathered at the Belt and Road Forum in Beijing to join President Xi Jinping and Russian President Vladimir Putin to focus on trade, investment, economic development and infrastructure. In the West, the short-termism and overriding obsession with... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238782/chinas-focus-peaceful-development-stark-contrast-wests-war-priorities?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238782/chinas-focus-peaceful-development-stark-contrast-wests-war-priorities?utm_source=rss_feed Sun, 22 Oct 2023 12:30:07 +0000 China and Russia are strengthening their partnership in food and energy, as both countries face mounting challenges amid tensions with the West, according to announcements made at recent forums in Beijing. The two nations have signed a nearly 2.5-trillion-rouble (US$25.8 billion) grain-supply contract, the biggest in their food-trade history, under the Belt and Road Initiative, a Russian insider was quoted as saying by the TASS news agency on Wednesday during the third Belt and Road... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3238699/china-and-russia-supercharge-trade-record-grain-order-bolstering-food-and-energy-security-western?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3238699/china-and-russia-supercharge-trade-record-grain-order-bolstering-food-and-energy-security-western?utm_source=rss_feed Fri, 20 Oct 2023 11:59:29 +0000 Amid Western inaction over climate finance, China has announced a major infusion of capital for the Belt and Road Initiative and a partnership to help developing countries identify and develop green projects. Roughly US$100 billion in new financing would be added, said Chinese President Xi Jinping at the third Belt and Road Forum this week, to the flagship financial institutions of the Belt and Road Initiative: the China Development Bank, Export-Import Bank of China (Exim Bank), and the Silk... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238517/china-steps-climate-fight-belt-and-road-green-finance-partnership?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238517/china-steps-climate-fight-belt-and-road-green-finance-partnership?utm_source=rss_feed Thu, 19 Oct 2023 13:00:22 +0000 Hong Kong and Beijing have pledged 15 billion yuan (US$2.05 billion) to create an investment platform targeting projects under the belt and road plan, including those focused on developing infrastructure and transitioning to renewable energy sources. The Hong Kong Monetary Authority (HKMA) and the Silk Road Fund (SRF), a state-backed investment vehicle, signed a framework agreement in Beijing on Thursday after the Belt and Road Forum for International Cooperation wrapped up. Under the first... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3238485/belt-and-road-forum-hong-kongs-leader-plans-trips-europe-middle-east-and-southeast-asia-make?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/politics/article/3238485/belt-and-road-forum-hong-kongs-leader-plans-trips-europe-middle-east-and-southeast-asia-make?utm_source=rss_feed Thu, 19 Oct 2023 07:29:59 +0000 Beijing set the scene for the latest belt and road forum by issuing a white paper packed with impressive statistics to mark the plan’s 10th anniversary. They included more than 200 Belt and Road Initiative cooperation agreements with 152 nations and 32 international institutions, involving total investment of US$380 billion, two-thirds of it from China. But the white paper left a question in the minds of many of the 130-plus countries and 30 organisations represented at the forum. Could Beijing... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238409/xi-leaves-no-doubt-belt-and-road-plan-will-lead-further-prosperity-stability?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3238409/xi-leaves-no-doubt-belt-and-road-plan-will-lead-further-prosperity-stability?utm_source=rss_feed Wed, 18 Oct 2023 22:30:19 +0000 Despite cascading geopolitical unrest throwing global development prospects into doubt, President Xi Jinping pledged on Wednesday to extend the global infrastructure network under his Belt and Road Initiative, and Russian president Vladimir Putin vowed to strengthen the initiative’s integration with his own plans for Eurasia. At the opening ceremony of the Third Belt and Road Forum for International Cooperation in Beijing, Xi said China will ratchet up infrastructure connectivity and build an... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3238398/china-russia-pledge-belt-and-road-infrastructure-integration-xi-jinping-vladimir-putin-lay-out?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3238398/china-russia-pledge-belt-and-road-infrastructure-integration-xi-jinping-vladimir-putin-lay-out?utm_source=rss_feed Wed, 18 Oct 2023 14:00:10 +0000 China will prioritise hi-tech and new energy in its plans for the Belt and Road Initiative – sectors it views as critical to powering domestic growth over the long run and consolidating its footing in the global supply chain, senior officials said on Tuesday. Addressing several hundred business representatives from 82 countries and regions, at a conference in Beijing, Vice-Premier He Lifeng set forth the core sectors for the belt and road strategy’s second decade at the third Belt and Road Forum... https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3238271/chinas-belt-and-road-initiative-get-hi-tech-boost-wealth-opportunities-promised-partners?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/china-economy/article/3238271/chinas-belt-and-road-initiative-get-hi-tech-boost-wealth-opportunities-promised-partners?utm_source=rss_feed Tue, 17 Oct 2023 12:30:16 +0000 China will launch a new international maritime cooperation initiative at this week’s belt and road summit as it seeks to showcase its “blue economy” goals to the world. Beijing will mark 10 years of its infrastructure-led global development strategy at the third Belt and Road Forum for International Cooperation, which begins in the Chinese capital on Tuesday. Representatives of some 130 countries and 30 global organisations – including Chilean President Gabriel Boric and Hungarian Prime Minister... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3238136/china-unveil-new-maritime-cooperation-initiative-belt-and-road-summit?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3238136/china-unveil-new-maritime-cooperation-initiative-belt-and-road-summit?utm_source=rss_feed Mon, 16 Oct 2023 14:00:16 +0000 China’s investment in Africa does not “change the rules” of development finance, according to a report released ahead of next week’s third Belt and Road Forum for International Cooperation – but Beijing has conceded the continent has a debt problem that cannot be ignored. Its sovereign loans to Africa totalled around US$160 billion between 2000 and 2020, two-thirds of which were made after Beijing’s Belt and Road Initiative was rolled out in 2013, according to a report published by Peking... https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3237882/china-defends-africa-investments-run-belt-and-road-forum?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/economy/global-economy/article/3237882/china-defends-africa-investments-run-belt-and-road-forum?utm_source=rss_feed Sat, 14 Oct 2023 02:00:10 +0000 Igor Patrick Igor Patrick Chilean President Gabriel Boric is set to meet Chinese leader Xi Jinping in Beijing on Sunday for talks that will likely fortify ties between the two nations, although Boric faces domestic pressure to address human rights issues in China. In his first visit to China since being elected in 2021, Boric is expected to enhance cooperation with Chinese provincial governments and expand relations to second-tier cities such as Shenzhen, Guangzhou and Chengdu, where he will deliver a lecture at Sichuan... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3237759/xi-jinping-host-chilean-president-gabriel-boric-talks-beijing?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/diplomacy/article/3237759/xi-jinping-host-chilean-president-gabriel-boric-talks-beijing?utm_source=rss_feed Thu, 12 Oct 2023 21:34:38 +0000 China’s Belt and Road Initiative has evolved into an endeavour powered by the Fourth Industrial Revolution and now offers the potential to tackle global challenges, particularly the environmental crisis. But, unless the international community can overcome its divisions and collaborate for the common good, humanity remains vulnerable to the perils of climate change. In response to geopolitical uncertainties, Beijing pushed its dual circulation strategy in 2020, raising questions about its belt... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3236033/western-bias-against-chinas-belt-and-road-hobbling-climate-action?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3236033/western-bias-against-chinas-belt-and-road-hobbling-climate-action?utm_source=rss_feed Sat, 30 Sep 2023 02:00:25 +0000 A decade after its announcement in Kazakhstan, China’s Belt and Road Initiative continues to dominate international conversation. At the recent G20 summit in New Delhi, a push to create a new corridor from India to Europe via the Middle East – touted by US President Joe Biden as “a big deal” – was widely seen as a counter to China’s infrastructure initiative. Yet the new corridor would cross routes already considered part of the belt and road and has created tensions among Group of 20 members.... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3235065/why-wests-attacks-chinas-belt-and-road-initiative-are-futile?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3235065/why-wests-attacks-chinas-belt-and-road-initiative-are-futile?utm_source=rss_feed Wed, 20 Sep 2023 21:30:38 +0000 Mention the Belt and Road Initiative in polite Western company and the damning or dismissive consensus is deafening. Take Christina Lu in Foreign Policy magazine in February. The headline reads: “China’s Belt and Road to Nowhere”. The initiative is “a shadow of its former self”, she says. The “floundering initiative” has seen its lending slump and projects stall. In Apec discussions back to 2015, anyone foolish enough to mention the phrase “belt and road” would get Japanese officials reminding... https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3234834/all-its-flaws-chinas-belt-and-road-has-lifted-global-south?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/comment/opinion/article/3234834/all-its-flaws-chinas-belt-and-road-has-lifted-global-south?utm_source=rss_feed Mon, 18 Sep 2023 01:30:18 +0000 Businesses should step up their efforts to capture opportunities arising from the climate transition and leverage Hong Kong’s position as an international financing centre to fund such projects, according to the city’s environment secretary and other conference speakers. “There is an increasing demand for innovative solutions, products and services in various industries … including green finance, the hydrogen economy, biofuels, low-carbon technology, materials, products and services,” Secretary... https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3234556/climate-change-blackrock-hsbc-hong-kong-officials-urge-firms-seize-biggest-investment-opportunity?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/banking-finance/article/3234556/climate-change-blackrock-hsbc-hong-kong-officials-urge-firms-seize-biggest-investment-opportunity?utm_source=rss_feed Thu, 14 Sep 2023 22:00:22 +0000 The governments of Dubai and Hong Kong have signed an agreement to establish an economic corridor for promoting cross border trading, family offices, fintech and green finance, according to a statement from the Middle East government on Thursday. Dubai’s Department of Economy and Tourism (DET) and Hong Kong’s Financial Services and the Treasury Bureau signed the Memorandum of Understanding (MOU) at the two-day Belt and Road Summit which was held in Hong Kong on Wednesday and Thursday. “This... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234569/dubai-and-hong-kong-establish-corridor-promote-family-offices-fintech-and-green-finance?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234569/dubai-and-hong-kong-establish-corridor-promote-family-offices-fintech-and-green-finance?utm_source=rss_feed Thu, 14 Sep 2023 11:46:38 +0000 Hong Kong’s strong capital markets are attractive for Middle Eastern companies seeking to raise funds, but investor education is required for a better understanding of the Gulf region’s cultural and religious traditions, according to a panel discussion held on Thursday. At the same time, there are opportunities for Hong Kong and mainland Chinese companies that are already deriving revenues from Middle East and Asian countries, to invest in this region as they seek to diversify their economies,... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234549/hong-kong-based-fund-managers-keen-tap-middle-east-investment-opportunities-need-cultural-insights?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234549/hong-kong-based-fund-managers-keen-tap-middle-east-investment-opportunities-need-cultural-insights?utm_source=rss_feed Thu, 14 Sep 2023 10:17:30 +0000 Saudi Arabia’s investment promotion agency may open an office in the Greater Bay Area (GBA), expanding its presence in southern China to attract capital, technology and talent to support the kingdom’s Saudi Vision 2030, a key official said. Invest Saudi, a brand overseen by the Saudi Ministry of Investment (MISA), may open an office somewhere in the bay area – the region made up of Hong Kong, Macau and nine Guangdong provincial cities – to augment the promotional mission currently undertaken by... https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234440/invest-saudi-may-open-greater-bay-area-office-attract-capital-technology-and-talent-support-kingdoms?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/business/article/3234440/invest-saudi-may-open-greater-bay-area-office-attract-capital-technology-and-talent-support-kingdoms?utm_source=rss_feed Wed, 13 Sep 2023 23:00:11 +0000 A mediation organisation established in Hong Kong but led by mainland China is expected to help resolve disputes related to belt and road projects, with preparatory work to be completed in two years, the head of the centre has said. Sun Jin, director general at the preparatory office of the International Organisation for Mediation, on Wednesday said that his team had organised a meeting with government officials and participating countries within three months of opening the centre. “We are... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/article/3234446/belt-and-road-summit-hong-kong-international-mediation-centre-set-resolve-project-disputes?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/article/3234446/belt-and-road-summit-hong-kong-international-mediation-centre-set-resolve-project-disputes?utm_source=rss_feed Wed, 13 Sep 2023 14:27:58 +0000 Ding Xuexiang, the sixth-ranked member of China’s ruling Communist Party, has signalled his leadership of the party’s top body for Hong Kong and Macau affairs with an address to a high-level forum hosted by the Hong Kong government. Ding delivered a pre-recorded video message to the audience at the opening ceremony of a two-day forum on the Belt and Road Initiative, Chinese President Xi Jinping’s flagship infrastructure investment project, in Hong Kong on Wednesday. In his first speech to the... https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3234380/chinas-ding-xuexiang-signals-leading-role-communist-partys-revamped-hong-kong-affairs-body?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/china/politics/article/3234380/chinas-ding-xuexiang-signals-leading-role-communist-partys-revamped-hong-kong-affairs-body?utm_source=rss_feed Wed, 13 Sep 2023 08:02:14 +0000 Hong Kong has Beijing’s backing to maintain its unique edge with a common law system, a “free, open and regulated” business environment as well as global links to play a bigger role in the Belt and Road Initiative, according to a state official overseeing city affairs. Chinese Vice-Premier Ding Xuexiang was addressing the opening session of the two-day Belt and Road Summit on Wednesday in a pre-recorded message. Ding is the most senior state leader to speak at the event in Hong Kong, now into... https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3234334/belt-and-road-summit-hong-kong-has-beijings-backing-maintain-unique-edge-common-law-system-free?utm_source=rss_feed https://www-scmp-com.libproxy1.nus.edu.sg/news/hong-kong/hong-kong-economy/article/3234334/belt-and-road-summit-hong-kong-has-beijings-backing-maintain-unique-edge-common-law-system-free?utm_source=rss_feed Wed, 13 Sep 2023 02:57:02 +0000