Sauce maker Foshan Haitian sees modest debut in HK
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Hong Kong is poised to play an invaluable role in sustainable development by capitalising on its strengths in green finance given mainland China's status as a leader in advanced green technologies, a top American economist has said. Advertisement Jeffrey Sachs, an economics professor and director of the Centre for Sustainable Development at Columbia University, also said on Thursday that the Greater Bay Area was superior to Silicon Valley. Beijing should also speed up the internationalisation of the renminbi, he said. 'The role of Hong Kong in sustainable development is becoming central for the whole world,' Sachs said at an event hosted by the newly formed Hong Kong Association for External Friendship, a non-governmental organisation. The UN's Sustainable Development Goals, which were adopted by all of its member states in 2015, are a set of 17 global targets aimed at ending poverty, protecting the planet and ensuring prosperity for all by 2030. Sachs said China had a unique role to play in driving sustainable development as it was the world's largest industrial nation and the 'lowest-cost producer' of advanced green and digital technology. Advertisement Hong Kong's role, in turn, was to provide the financing needed and serve as a bridge that connected the world through bond issuances, listings and finding business partners.
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Leapmotor rolls out smart EV at half the price of Tesla's Model 3 in push for global sales
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South China Morning Post
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EU and China agree on plan to iron out rare earth export restrictions, von der Leyen says
'We agreed – and this is new – to have an upgraded export supply mechanism. In other words, if there are bottlenecks, this upgraded support supply chain support mechanism can immediately check and solve the problem or the issue that is out there,' von der Leyen said. China's chokehold on rare earth exports has become one of the biggest issues in the EU-China relationship and was high on Brussels' agenda as its leaders sat down with Chinese President Xi Jinping and Premier Li Qiang in separate sessions. The tension stems from China's decision to impose licensing requirements on the export of rare earth elements and magnets in April. The move was a response to US tariffs, but European firms were caught in the crossfire, with some production lines grinding to a halt. Von der Leyen acknowledged China's efforts 'on fast tracking licences for the critical raw materials ' and said progress was vital to repairing 'trust in our trade relationship'. 'We need a reliable and secure supply of critical raw materials from China. Being seen as a reliable supplier and partner is clearly aligned with China's long-term economic and strategic interests,' she said.
