Latest news with #BeltAndRoadInitiative
South China Morning Post
7 days ago
- Business
- South China Morning Post
Hong Kong aims to increase flights to Asean, Middle East under belt and road plan
Hong Kong is striving to enhance its connectivity with countries under the Belt and Road Initiative by increasing flight frequencies to strategic destinations such as Xinjiang, Riyadh and Dallas, as well as launching new direct routes to second-tier Asean and Middle Eastern locations, the city's chief for the national plan has said. In an exclusive interview with the Post, Commissioner for Belt and Road Nicholas Ho Lik-chi also said the global volatility brought by US President Donald Trump's administration had forced more Western capital to shift eastward, enabling Hong Kong to stand out as a connector for companies in mainland China and other emerging markets. Ho, a registered architect, was appointed in 2023 to coordinate the government's efforts in promoting Hong Kong's involvement in the initiative, a national strategy that links more than 140 economies across continents into a China-centred trade network. He regarded the aviation push as critical in enhancing Hong Kong's connectivity with countries under the belt and road plan, noting that it was a milestone for the city in the past year to launch direct flights to three strategic destinations – Riyadh, Xinjiang and Dallas – on top of the existing routes to more than 150 locations. 'We were able to create interim solutions to further develop these new markets in these new regions,' he said. 'We have a mission to deep dive into Asean, Central Asia and the Middle East as our core development markets.' Cathay Pacific Airways' relaunch of direct flights to Saudi Arabia's capital, Riyadh, last October had served as a gateway to the Middle East, Ho said. At least nine nations in the region have signed agreements under the initiative.
South China Morning Post
12-07-2025
- Business
- South China Morning Post
China and Egypt deepen ties as Beijing boosts influence in bid to solve Mideast crises
Upon his arrival at Cairo International Airport on Wednesday, Chinese Premier Li Qiang recalled the enduring legacy of the ancient Silk Road , a centuries-old link that laid the groundwork for close trade and cultural exchanges between China and Egypt. That connection now thrives as China recreates the network through its ambitious Belt and Road Initiative, attracting billions into Egypt's infrastructure and various sectors. Chinese companies in Egypt have notably built Africa 's tallest skyscraper, set up the country's first electric light rail and helped to modernise its electricity grid. On Thursday, Li met Egyptian President Abdel-Fattah el-Sisi, agreeing to deepen belt and road collaboration in trade, finance, manufacturing, renewable energy, technology and cultural exchanges. Chinese investment is prominent across Egypt, notably in projects such as the central business district in the New Administrative Capital east of Cairo – featuring Iconic Tower, Africa's tallest skyscraper – and the Suez Canal Economic Zone.
South China Morning Post
01-07-2025
- Science
- South China Morning Post
China boosts science, tech outreach to Global South as its US collaboration dips: analysts
China is ramping up its science and technology outreach to the Global South while its collaboration with the US on the same front is receding, analysts said on Tuesday at an event hosted by the Institute for China-America Studies, a Washington think tank. 'China is very heavily engaging with those countries,' said Caroline Wagner of the Ohio State University, noting Beijing has signed science and technology agreements with 'dozens and dozens of countries'. That development marks a 'critical departure' from earlier years when China was primarily focused on the US, added Wagner, who formerly advised the White House Office of Science and Technology Policy as a researcher at Rand, a public policy group. She called for greater bilateral dialogue to preserve areas of scientific cooperation beneficial to the US. Wagner's comments came as the US State Department is reportedly shutting down its Office of Science and Technology Cooperation, which is responsible for negotiating and overseeing bilateral science and technology agreements. Delegates from various Belt and Road Initiative countries attend a science and technology forum in Chengdu, Sichuan province, on June 12, 2025. Photo: Xinhua The closure was slated for July 1, though the entity overseeing the office – the Bureau of Oceans and International Environmental and Scientific Affairs – did not immediately respond to a request for confirmation.
Asharq Al-Awsat
19-06-2025
- Business
- Asharq Al-Awsat
US Involvement in Iran-Israel Conflict Raises Fears of Strait of Hormuz Closure
As the conflict between Iran and Israel intensifies, experts warn that direct US involvement could trigger a dangerous escalation, most notably, the closure of the Strait of Hormuz, a critical global energy chokepoint. If Iran were to follow through on this long-standing threat, the consequences would be severe, cutting off roughly 20% of the world's oil exports and 30% of global natural gas shipments. Russian strategic analyst Andrey Ontikov told Asharq Al-Awsat that fears remain real and growing, particularly if the war expands. If the United States is drawn into the war alongside Israel, the likelihood of Iran moving to close the Strait of Hormuz becomes the most serious and effective threat, he said. Ontikov explained that such a move would paralyze global energy flows from the Gulf, sending oil and gas prices soaring and inflicting major economic damage on both exporting and importing nations. The resulting disruption would directly affect international shipping, raise transport and insurance costs, and cause energy prices to spike, further straining already fragile global supply chains, he added. He also warned that broader geopolitical implications are at stake. A regional war involving the Strait of Hormuz could jeopardize key trade corridors, including China's Belt and Road Initiative and Russia's North-South transport corridor. That would have a direct economic impact on both Beijing and Moscow, forcing countries to look urgently for alternative trade routes, Ontikov said. Oil prices are already rising, though Ontikov believes that if tensions ease, the global economic impact could be contained. However, a prolonged or widened war would paint a far more troubling picture. Saudi economic expert Dr. Ibrahim Alomar, head of Sharah Consulting, echoed these concerns. 'If the conflict stays limited, the effects may include a temporary $10–$20 increase in oil prices and limited disruption to financial and shipping markets,' he said. 'But a broader war could push oil prices above $120, causing inflation and a sharp global economic slowdown.' Alomar warned that in the worst-case scenario - where the Strait of Hormuz is fully closed - oil prices could skyrocket past $200, triggering hyperinflation, severe recession, and a collapse in global financial markets. 'Such a scenario could ultimately reshape the global economic system, depending on who emerges least damaged from the crisis,' he concluded.
