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South China Morning Post
5 hours ago
- South China Morning Post
Vanuatu looks to Hong Kong to support digital finance plans, economic transformation
Vanuatu is seeking closer ties with Hong Kong to support its ambitions in digital finance and economic diversification as the South Pacific island nation positions itself as a gateway for collaboration between the Global South and Asia. Advertisement The country is entering a new era of economic stability with a renewed focus on infrastructure, digital transformation and international commercial engagement, according to Deputy Prime Minister Johnny Koanapo Rasou. 'We've gone through years of [political] instability, but now we have a government that's stable and serious,' he said in an interview with the Post in Hong Kong on Friday. 'We want to deepen our engagement, especially in digital finance. The goal is to create a well-regulated environment that allows responsible innovation, and Hong Kong is a role model in that space.' He said the government was building airports, upgrading roads and investing in new townships. More importantly, it had passed legislation to pursue its ambitions, including the country's first public-private partnership law and land reforms allowing investors to lease state-owned properties for up to 99 years from 75, he added. Deputy Prime Minister Johnny Koanapo Rasou says Vanuatu is ready to embrace more foreign investors. Photo: Edmond So 'I've come to Hong Kong to say Vanuatu is ready,' said Rasou, who is also the minister of finance and economic management. 'I feel it is the time to invite companies, investors from mainland China, Hong Kong, Singapore, across Asia, Europe and other places to come to Vanuatu and have meaningful commercial engagements.' Advertisement Vanuatu, a nation of about 330,000 people spread across an archipelago of 83 islands. To lay the digital groundwork, the government recently introduced the Virtual Assets Services Providers (VASP) Act, a legal framework aimed at regulating businesses involved in blockchain-based assets and stablecoins.


South China Morning Post
21 hours ago
- South China Morning Post
Why China-Russia ‘troika' talks are back on India's table
As friction with the West builds over energy imports and trade, India is weighing a delicate recalibration: reviving its long-dormant trilateral dialogue with Russia and China , even as it insists it remains committed to its partnerships with the US and its allies. Advertisement India indicated earlier this month its openness to resuming the Russia-India-China (RIC) dialogue, a platform established in the early 2000s to foster coordination among the three Eurasian powers. Describing the RIC as a consultative mechanism for addressing shared regional and global challenges, New Delhi's Ministry of External Affairs emphasised on July 17 that any decision on resuming talks would be taken 'in a mutually convenient manner'. No timeline was provided for when this might happen. The move came just weeks after Russian Foreign Minister Sergey Lavrov had voiced strong support for reviving the format. Speaking at a conference last month, Lavrov reaffirmed Moscow's desire to 'confirm our genuine interest in the earliest resumption of the work within the format of the troika – Russia, India, China – which was established many years ago on the initiative of former Russian prime minister Yevgeny Primakov'. Former Russian PM Yevgeny Primakov (left) with his Indian counterpart Atal Behari Vajpayee in 1998, the year he called for the creation of a 'strategic triangle' between Russia, India and China. Photo: AFP Analysts suggest the impetus behind India's overture stems from growing frustration with what it perceives as Western 'double standards'. Sriparna Pathak, a professor of China studies and international relations at O.P. Jindal Global University in India, pointed to recent warnings from Nato chief Mark Rutte that India could face ' 100 per cent secondary sanctions ' for buying Russian oil.


South China Morning Post
a day ago
- South China Morning Post
US business leaders to visit China as both sides meet for latest round of trade talks
A high-level American business delegation will visit China this week on a trip that coincides with the latest round of US-China trade talks, according to two sources familiar with the matter. The trip to Beijing will be organised by the US-China Business Council and led by FedEx chief executive Rajesh Subramaniam, the council's board chair. The full list of visiting business leaders and schedule is not known but both sources said that Boeing executives and the president of the council Sean Stein were certain to be part of the delegation. 'They are expected to meet with Chinese officials - potentially to revive business discussions,' a source said. The council has not responded to requests for comment. The council regularly organises visits to China that coincide with significant events and involve meetings with senior officials. Last year's visit coincided with a major policy meeting in Beijing and included senior executives from Apple, Boeing, Goldman Sachs and Micro Technology. The upcoming visit will be the highest-level American business delegation since US President Donald Trump started his latest tariff war in April.