WiththeflamesoftradefrictionspreadingfromtheAmericastoAsiaandnowtoEurope,itisincreasinglyexplicitthattheU.S.presidentdoesnotmindupendingtheglobaltradeorderinhiscrusadeforU.S.preeminence.AndthislendsspecialsignificancetotheconsensusreachedbyChineseandEuropeanUnionleadersinBeijingonJuly16thattheywillworktogethertopreservemultilater-alismandfreetrade.
Havingbeenengulfedbythelastcentury’stwodevastatingworldwars,EuropeannationsarejustifiedinworryingthatthetradeconfrontationinitiatedbytheTrumpadministrationhasthepotentialtomutateintoviolent“conflictandchaos.”
“ItisthecommondutyofEuropeandChina,butalsoAmericaandRussia,nottodestroy(theglobaltradeorder)buttoimproveit,nottostarttradewarswhichhaveturnedintohotconflictssoofteninourhistory,”saidEuropeanCouncilPresidentDonaldTusk.
Heisright.Theunilateral,protectionist,andhegemonicapproachtheWhiteHousehasembracedwillonlyacerbatetradeties,dismembertheglobalmarketwithtariffbarriers,andsowtheseedsofanimositythatmaygrowintogreaterconflict.Theongoingtariffstit-for-tatbetweenBeijingandWashington,forone,isincreasinglyseenasaharbingerofabroaderstandoff.
ThatBeijinghasmovedspontaneouslytobalancetradeties,lowertariffs,andofferbroadermarketaccessamidthetradebrawlwithWashingtoncarriesthemessagethatitisgenuinelycommittedtoanopen,unifiedglobalmarketandfreer,fairertrade.
Inthesamespirit,itpledgedonJuly16toengageinopen,transparenttrade,topushforreformandimprovementoftheWorldTradeOrganization,andtopunishintellectualpropertyrightsviolations.
“Makeviolatorswithmaliciousmotiveslosetheirfamilyfortune”wastheharshestutteranceevermadebyBeijinginthisregard.Betteryet,Beijingannouncedthatstemmingintellectualpropertytheftisessentialtoindigenousinnovation.
TheChina-EULeaders’Meetingwasafreshexampleofwhatdifferenceaconstructiveapproachcanmake.TheescalatingtradetensionswiththetwosidesfomentedbytheU.S.,ontheotherhand,highlightthedestructivepotentialofgoingitalone.
(Source:ChinaDaily)China’sInsuranceIndustryGoingGlobal
ChinaFinancialWeeklyIssueNo.13,2018
Theyear2018marksthe40thanniversaryofChina’sreformandopening-uppolicy.Thisyear,thecountryhassharedbenefitsofitsopening-upwiththeworldinabarrageofnewmoves.InApril,ChinesePresidentXiJinpingannouncedseveralsignificantmeasuresforfurtheropening-upattheBoaoForumforAsia,includingacceleratingtheopeningupoftheinsuranceindustry.YiGang,governorofthePeople’sBankofChina,followedupwithanannuallistoffinancialopeninguppackages,furtherliftingthecapontheproportionofforeignsharesininsurancecompaniesandexpandingthescopeofforeigninsurancebrokers.
OnMay30,theChinaBankingRegulatoryCommission(CBRC)solicitedviewsfromthepublicontheamendmentstotheImplementationRulesoftheRegulationsontheAdministrationofForeignInsuranceCompanies.Therelaxationofthecaponforeignownershipoflifeinsurancecompaniesto51percentisakeypartofthewideropeningofChina’sinsuranceindustry,accordingtothedraft.
Expertssaythatthenewroundofopening-upoftheinsuranceindustrywillundoubtedlyhaveafar-reachingimpact.ItwillpushChina’sinsuranceindustrytobediversified,marketoriented,andprofessional.
ShanghaiManufacturingSettingoutAgain
XinminWeeklyIssueNo.25,2018
Asisknowntoall,ShanghaiisthebirthplaceofChina’smodernindustry.
Before1949,ShanghaiwasthelargestcommercialandindustrialcityaswellastheeconomiccenterofChina.Itplayedakeyroleinthecountry’sindustrialdevelopment,transportation,domesticandforeigntrade,andfinance.
AfterthefoundingofthePRCin1949,Shanghaiusheredinitseconomictake-off.Withdecadesofunremittingwork,agildedsignboard“madeinShanghai”wasforged:
Backthen,“madeinShanghai”representedprestigeandfashion.Itwasthesymbolofthecity.Inthenewera,Shanghaiacceleratesitsindustrialrestructuring.“MadeinShanghai”isbeingtransformedandupgradedinto“qualityassurancefromShanghai”and“intelligentmanufacuringinShanghai.”Today,therevivalof“madeinShanghai”showsthecountry’sfar-sightedplansandgreaterambition.
Alongwitheconomicglobalization,thescientificandtechnologicalrevolutionoftheInternet,andthewideapplicationofinformationtechnology,newmaterialsandnewenergy,Shanghaimanufacturingistransformingitselfintohighend,green,intelligent,andserviceoriented.Thetransformationisbothfruitfulandchallenging.Peopleponderoverhow“madeinShanghai”andurbandevelopmentaresupplementarytoeachother,andwhatrole“madeinShanghai”playsinglobalcompetition.TMALLNewRetailRebuildingaNewWorld
SouthernPeopleWeeklyIssueNo.13,2018
The“TMallIdealLifeCarnival,”whichbeganonJune1,hasmorphedintoanewretail“expo.”
Thecarnivalcateredtoanimpressivelywidearrayofcategoriesandparticipants.Large-scalecommercialapplicationsofnewretailtechnologieswereseeninaction,withelementshighlightingthethree-dimensionalmodern,urbanconsumerlife,andglobalcollaboration.BasedonBeijingandShanghai’snewretailbusiness,TMallsetupanetwork.
Asofflinebusinessadvances,anurbannetworkforHemaSupermarkethasalsobeenestablished.Besides,withthejoiningofYintai,Eleme,RT-Mart,andEasyhome,TMallhasnowcoveredalmostallaspectsofpeople’sdailylife.
Newretailreliesonthemarriageoftechnologyandretail.Technology,onlywhenenteringthestageoflarge-scalecommercialuse,cancreatenewexperiencesinpeople’sdailylife.Facialscanningtoenterastoreforacustomizedexperience,payingwhilewalking,tryingonclothesbeforethevirtualdressingmirror,buyingattheclickofabutton–duringtheTMallcarnival,newretailtechnologieswerenotjusttoutedonmarketingslides,butinpracticalusageintheofflinestoressetup.
TMall’snewretailisthefuture.Fromthegovernmenttothepeople,fromfirst-tiercitiestonewfirst-tiercities,itiscausingawiderangeoftransformativeripples.5GIncoming
OrientalOutlookIssueNo.26,2018
AttheMobileWorldCongress(MWC)heldfromJune27to29,2018inShanghai,over600renownedenterprisesfrommorethan100countriesandregionsamazedparticipantswiththeirnewtechnologiesinthefollowingfields:theInternetofThings,wearabletechnology,connectedcities,virtualreality,andunmannedoperations.Thesenewtechnologieswillexertaprofoundinfluenceonpeople’sdailylifeinthe5Gera.
Twoweeksearlier,onJune13,3GPP,themainbodyforthesettingofinternationaltelecommunicationsstandards,approvedanindependentnetworkingschemefor5GNR,thefifthgenerationmobiletechnologystandard.
5Gwillchangethewaytheworldconnects.
StatisticsfromtheChinaMobileInternetofThings(CMIOT)CompanyshowthatHangzhouhasbecomeChina’sfirstprovincialcapitalwithmoremobileIOTclientsthanresidents.Asoftheendofthefirstquarter,Hangzhouboastedatotalof10.21millionmobileIOTclients,whichexceedsthenumberofitsresidents(9.47million),andChinaMobileusersinthecity(10.16million).ThismeansHangzhouiswellonitswaytowards“thefirstChinesecityofIOT.”
Earlier,ChinaMobileannouncedthatitwouldconduct5Gteststhisyear,andhopedtoput5Gontrialforcommercialpurposesnextyearandimplementitfullyforcommercialuseby2020.
Giventhehugedividendsof5G,eachcountryisbeingproactiveinitsR&D.