Posts Tagged China

Asian Infrastructure Investment Bank (AIIB)

The Asian Infrastructure Investment Bank (AIIB) is an international financial institution proposed by the government of China.

At least 47 countries and territories from five continents have applied to join the Beijing-led Asian Infrastructure Investment Bank as founding members.

Sweden and Kyrgyzstan were among the last to apply before the deadline, 31 March 2015, adding further weight to the regional financing body, which has seen its influence grow even before it officially starts operation.

Check here for more.

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China to Become World’s Largest Economy in 2024

 
According to a Report from IHS Economics, China will become the world’s largest economy in 2024.
 
IHS is a global information company with world-class experts in the pivotal areas shaping today’s business landscape: energy, economics, geopolitical risk, sustainability and supply chain management.
 
Read more about here.
 

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More Trade News in Brief Week 20 (12 – 18 May 2014)

 
* China – Extra Free Trade Zones (FTZ)
 
China will set up a number of new free trade zones to boost foreign trade growth and increase the use of the renminbi.
 
See more here.
 
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* The World’s Biggest Public Companies
 
The Forbes magazine released the 2014 Global 2000. For the first time, China is home to the world’s three biggest companies; it also lands five of the top 10 spots.
 
Check here The 2014 Global 2000.
 
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* 2014 ICT Figures
 
International Telecommunication Union (ITU) released 2014 ICT figures, please check for some of the most important findings:
 
* fixed-telephone subscriptions continue to decline
* mobile-cellular subscriptions to hit nearly 7 billion
* growth in fixed-broadband penetration slowing in developing countries
* mobile-broadband subscriptions will reach 2.3 billion globally
* home internet access approaches saturation levels in developed countries
* three billion people will use the Internet by end of 2014
 
The latest ITU statistics are available here.
 
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* ICAO 2013 Annual Safety Report
 
The International Civil Aviation Organization (ICAO) released its annual Safety Report for 2013, reflecting very positive global aviation safety outcomes.
 
Read more here and download The ICAO 2014 Safety Report.
 

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ASEAN + 6 Free Trade Negotiations

Phnom Penh (Cambodia)
 
ASEAN and its FTA’s partners expected to commence in 2013 negotiations on a new regional trade treaty, the Regional Comprehensive Economic Partnership (RCEP).
 
The RCEP is to be negotiated between ASEAN’s ten member countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – and its current six free trade agreement (FTA) partners – Australia, New Zealand, China, India, South Korea and Japan.
 
Check here and/ or here for more information.
 

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More Trade News in Brief – Week 34 (13 – 19 August 2012)

 
* CIS and Ukraine Signed an FTA
 
The Commonwealth of Independent States (CIS) signed an agreement allowing the free trade of goods and services with Ukraine, but it also has a list of exceptions ( such as crude oil, natural gas, sugar, and others).
 
More here.
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* Declining Optimism over Global Economic Recovery
 
16 August 2012, Paris
 
The  ICC-Ifo World Economic Survey, released by International Chamber of Commerce (ICC), shows that the world economic climate indicator fell as fear continues to spread about the unsolved debt crisis in Europe.
 
Please read more here
 
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* Tajikistan, More Closed to WTO
 
 17 August 2012
 
Tajikistan is entering the final stretch of its bid to achieve membership of the World Trade Organization (WTO).
 
Check here.
 
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* China & North Korea Stregth Cooperation
 
China and North Korea signed an agreement for the joint management and development of two economic zones at the border. 
 
Both North Korea’s Rason Economic and Trade Zone and the Hwanggumphyong and Wihwa Islands Economic Zone are on the country’s borders with China.
 
Fore more click here.

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Brazil Signing Currency Swap Agreements with All BRICS

 
Brazil and China have signed a Currency Swap Agreement in order to pay for trade transactions in local currencies (the real and the yuan or renminbi).
 
Furthermore, Brazil revealed that similar currency swap agreements were under study with all the members of the BRICS group of nations (Brazil, Russia, India, China and South Africa).
 
On the other side, China have signed similar agreements with Australia, Hong Kong and Japan.
 

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EU and China Signs a Cooperation Plan in Agriculture and Rural Development

11 June 2012, Beijing
 
The European Union  and China signed a Cooperation Plan on Agriculture and Rural Development with aim of establishing a stronger and closer relationship, in particular in food security, rural development, food safety and climate change.
 
More here.

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The European Union and the BRIC Countries Statistics

31 May 2012
 
The four BRIC Countries (Brazil, Russia, India, China) and  Eurostat (the statistical office of the EU) releases the publication “The European Union and the BRIC Countries”.
 
The publication contains data on demography, economy, health, education, labour market, trade in goods, agriculture, energy and environment, transport and communication as well as science and technology.
 
For further information please refer to EU’s website.
 

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China and Japan – Yen-Yuan Direct Trading

After an agreement reached last year to reinforce financial ties between the two countries, China and Japan will start direct trading of their currencies in both markets from June 1st.
 
The movement will help both countries to reduce the currency’s links to the U.S. dollar and drop the foreign-exchange costs for local corporations.

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A Global System for Aviation Carbon Emissions

 
After China, India, the United States and Russia oppose the EU’s Emissions Trading System directives, EU might alter its ETS if an agreement is reached.
 
A global system for aviation carbon emissions have been introduced in discussion by the International Civil Aviation Organization (ICAO), a U.N. body, and it is supported by the International Air Transport Association (IATA), an industry group, which opposes the European charges.
 
More here.

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