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Middle East
28-06-2025
- Business
- Middle East
OPEN// Bulgaria seeks Chinese investment in high-value-added sectors, says BCCI
SOFIA, June 26 (MENA) - Bulgaria is seeking to attract Chinese investment in sectors where the country holds traditional advantages and in industries that generate high added value and enhance economic competitiveness, said Bulgarian Chamber of Commerce and Industry (BCCI) Vice President Vasil Todorov. He was speaking Thursday at an international conference marking the 10th anniversary of the establishment of the Association for the Promotion of Agricultural Cooperation between China and the Central and Eastern European Countries (APACCCEEC), taking place at Grand Hotel Sofia, the Bulgarian News Agency reported. Among the key sectors for investment, Todorov highlighted agriculture, mechanical engineering, automotive manufacturing and parts production, electronics and electrical engineering, information and communication technologies (ICT), and tourism. Todorov noted that relations between Bulgaria and China date back to 1985, when the first cooperation agreement was signed between the China Council for the Promotion of International Trade and BCCI. He emphasized that BCCI has been a long-standing partner of the APACCCEEC since its inception, and a memorandum of cooperation was signed in 2016. The two organizations have jointly organized various events, disseminated information to stakeholders and institutions, and collaborated on the agricultural startup accelerator program run by APACCCEEC. Todorov added that the Bulgarian Chamber of Commerce and Industry also takes part in events related to the One Belt, One Road initiative, recognizing the benefits of cooperation between China and the CEE countries. (MENA) I S N/R G E
OC Media
27-06-2025
- Business
- OC Media
Armenian Foreign Minister Mirzoyan makes first official visit to China
Sign in or or Become a member to unlock the audio version of this article Join the voices Aliyev wants to silence. For over eight years, OC Media has worked with fearless journalists from Azerbaijan — some of whom now face decades behind bars — to bring you the stories the regime is afraid will get out. Help us fuel Aliyev's fears — become an OC Media member today Become a member Armenian Foreign Minister Ararat Mirzoyan has made his first official working visit to China at the invitation of his Chinese counterpart Wang Yi. Mirzoyan's visit was scheduled to last 24–27 June. On Thursday, Mirzoyan met with Wang at the Government Guest Reception House in Beijing. In his speech following the meeting, Mirzoyan highlighted the direct Yerevan–Urumqi flight he took, calling it a 'tangible example of the deepening of our ties'. Mirzoyan also noted that last year, the trade turnover between Armenia and China increased by $700 million. 'This is a good example of dynamics. But, at the same time, I am sure that this is not our full potential', he said, adding that his visit to China was a 'good opportunity to become more understandable and predictable partners for each other, to see how we can deepen the political dialogue, which I think, if I may use this word, is already quite mature, and how we can raise our strategic relations to a new level'. In turn, Wang thanked Mirzoyan for actively supporting and promoting Armenia–China relations, highlighting the historic ties linked to the ancient Silk Road and new growth via the 'One Belt, One Road' initiative. 'Thanks to this initiative, our cooperation, especially in the trade and economic sphere, continues to reach new heights', Wang said, noting that China has become one of Armenia's key trading partners. Advertisement Wang also emphasised the deepening Armenian–Chinese humanitarian ties, citing the direct air communication between the two countries as well as the visa-free regime policy. 'We are ready to strengthen our friendship, deepen trust, and expand cooperation with Armenia for the benefit of the development of our two countries', Wang concluded. In addition to meeting with Wang, on Wednesday, Mirzoyan held a discussion at the China Institute of International Studies during which he presented the 'Crossroads of Peace' project. Armenian Prime Minister Nikol Pashinyan first unveiled this project — a regional transport proposal that would connect Turkey, Azerbaijan, Iran, and Georgia through Armenia — at the 2023 Tbilisi Silk Road Forum in Georgia. 'Armenia, being at an important crossroads, can play a significant role in programs aimed at expanding the transport and economic communications network', Mirzoyan said on Wednesday. In a similar vein, Mirzoyan also presented the 'latest developments in the peace process between Armenia and Azerbaijan, emphasising the importance of signing an agreement on interstate relations and peace between the two countries in establishing peace in the region', a statement by the Armenian Foreign Ministry read. Earlier in June, Pashinyan's wife, Anna Hakobyan, announced she would be moving to China in September to begin a two-year graduate programme in Chinese philosophy.
Business Times
10-06-2025
- Business
- Business Times
Raffles Medical partners Chongqing hospital to enhance healthcare services
[CHONGQING, CHINA] Raffles Medical Group has inked a strategic cooperation agreement with a hospital in Chongqing, China, to deepen medical partnerships between the two. In a press statement on Tuesday (Jun 10), Raffles Medical said that the aim is to combine international expertise with local strengths and enhance the overall medical service capabilities of Chongqing. The group said it will work with the First Affiliated Hospital of Chongqing Municipality at the institutional, hospital and disciplinary levels. Under the partnership, a new healthcare collaboration ecosystem focused on value co-creation and complementary strengths will be established. For instance, the two parties will engage in reciprocal visits and exchanges for medical, nursing, technical, pharmaceutical and administrative personnel. They will also explore new models of cooperation such as dual-appointment talent systems, artificial intelligence applications, and alignment with international medical standards. 'These initiatives will inject quality-driven productivity into the sustainable development of both institutions and regional healthcare,' said the group. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Additionally, a new medical consortium will be introduced to facilitate the flow of medical resources. It will involve multidisciplinary collaboration, talent exchange and training, equipment sharing, and two-year referral mechanisms between the two. Top expert teams from both hospitals will also convene for academic exchanges and consultations of complex cases, among others, to advance disciplinary development, said Raffles Medical. 'Chongqing Model' The First Affiliated Hospital of Chongqing Municipality is a top-tier tertiary Class-A teaching hospital in China, it added. Raffles Medical's partnership with the hospital will offer a 'Chongqing Model' for international medical cooperation under the Belt and Road Initiative, noted Dr Loo Choon Yong, the group's executive chairman. The initiative – previously known as China's One Belt, One Road – is the East Asian giant's global economic plan to create regional connectivity through infrastructure development and promote world trade and economic growth. This will further consolidate Chongqing's status as an international medical hub city, said Dr Loo. Shares of Raffles Medical closed at S$0.975 on Tuesday, down 1 per cent or S$0.01, before the announcement.
Business Times
10-06-2025
- Business
- Business Times
Raffles Medical partners Chongqing hospital to strengthen healthcare services
[CHONGQING, CHINA] Raffles Medical Group has inked a strategic cooperation agreement with a hospital in Chongqing, China, to deepen medical partnerships between the two. In a press statement on Tuesday (Jun 10), Raffles Medical said that the aim is to combine international expertise with local strengths and enhance the overall medical service capabilities of Chongqing. The group said it will work with the First Affiliated Hospital of Chongqing Municipality at the institutional, hospital and disciplinary levels. Under the partnership, a new healthcare collaboration ecosystem focused on value co-creation and complementary strengths will be established. For instance, the two parties will engage in reciprocal visits and exchanges for medical, nursing, technical, pharmaceutical and administrative personnel. They will also explore new models of cooperation such as dual-appointment talent systems, artificial intelligence applications, and alignment with international medical standards. 'These initiatives will inject quality-driven productivity into the sustainable development of both institutions and regional healthcare,' said the group. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Additionally, a new medical consortium will be introduced to facilitate the flow of medical resources. It will involve multidisciplinary collaboration, talent exchange and training, equipment sharing, and two-year referral mechanisms between the two. Top expert teams from both hospitals will also convene for academic exchanges and consultations of complex cases, among others, to advance disciplinary development, said Raffles Medical. 'Chongqing Model' The First Affiliated Hospital of Chongqing Municipality is a top-tier tertiary Class-A teaching hospital in China, it added. Raffles Medical's partnership with the hospital will offer a 'Chongqing Model' for international medical cooperation under the Belt and Road Initiative, noted Dr Loo Choon Yong, the group's executive chairman. The initiative – previously known as China's One Belt, One Road – is the East Asian giant's global economic plan to create regional connectivity through infrastructure development and promote world trade and economic growth. This will further consolidate Chongqing's status as an international medical hub city, said Dr Loo. Shares of Raffles Medical closed at S$0.975 on Tuesday, down 1 per cent or S$0.01, before the announcement.
Epoch Times
28-05-2025
- Business
- Epoch Times
China's Belt and Road Dams: Ambitious Projects With Questionable Benefits
Commentary As part of the Belt and Road Initiative (BRI), Beijing has helped build numerous large-scale hydropower dams worldwide, pursuing a clear political agenda to expand its global influence. Chinese state media often tout these projects as the 'Three Gorges Project' of a given country, even though China's own Three Gorges Dam has been widely criticized for causing severe ecological damage. For example, Sudan's Merowe Dam has been dubbed 'Sudan's Three Gorges,' while projects in Ecuador, Pakistan, Ethiopia, Malaysia, Bolivia, and beyond have received similar labels. Detailed analyses of these projects often reveal that they are largely unprofitable ventures—driven more by prestige, influence, and propaganda than practical returns. Political Power Over Profit Politically, the BRI, also known as One Belt, One Road, is a cornerstone of the global strategy of the Chinese Communist Party (CCP). It is designed to promote its governance model, tout the so-called superiority of socialism, and advance narratives such as the 'rise of the East, decline of the West' and 'a community of shared future for mankind.' What is the ultimate goal? Related Stories 5/21/2025 1/19/2025 To create a new world order that is shaped, influenced, and controlled by the CCP. In other words, the CCP uses debt, technology transfers, and infrastructure as soft power or leverage tools. Economically, the BRI helps absorb China's surplus industrial capacity and labor, while securing long-term control over critical global infrastructure. How does China dominate the global dam-building market? The Chinese regime operates with a clear focus on its objectives. Another key factor is how China operates under the CCP's unified command to carry out a large-scale project through a coordinated effort. This approach integrates diplomacy, finance, propaganda, education, national security, and state-owned enterprises into a cohesive strategy. In the field of international dam construction, for example, early pioneers like the Three Gorges Group and Gezhouba Group have been consolidated into the Power Construction Corporation of China (PowerChina), backed by state-owned banks such as the Export-Import Bank of China. This 'military-style' deployment leaves most private foreign competitors in the dust. As the saying goes: 'Wherever they go, no grass grows'—a euphemism for wiping out competition. Moreover, many foreign private companies have long been co-opted by the CCP, leveraging their so-called independent status to advance Beijing's interests. China's Dominance in Global Hydropower Construction Market At the China Hydropower Development Forum held in Beijing on Jan. 8, 2019, officials revealed that Chinese companies had come to dominate more than 70 percent of the global hydropower construction market. Conservative estimates place China's overseas investment in hydropower at over 200 billion yuan (about $28 billion), spanning more than 40 countries and regions along the Belt and Road. According to a November 2023 report by state-owned Chinese company PowerChina, since the launch of the BRI in 2013, Chinese companies have been involved in more than 300 hydropower projects abroad, with a total installed capacity exceeding 100 million kilowatts—more than 4.44 times that of the Three Gorges Dam, which stands at 22.5 million kilowatts. In some countries, China has helped build not just one but multiple 'Three Gorges Projects.' For example, Sudan has the Merowe Dam (featured on the 100 Sudanese pound banknotes), the upgraded Roseires Dam, and the Upper Atbara Dam. Ethiopia is home to the Tekeze Dam, Gibe III Dam, and the Grand Ethiopian Renaissance Dam. In the Democratic Republic of Congo, the Inga III project stands out for its sheer scale—its generating capacity is twice that of the Three Gorges Dam, and its annual output is three times greater. It's been dubbed the 'Super Three Gorges Project.' Hydropower is merely one facet of the BRI's massive infrastructure ambitions. Chinese state-owned enterprises are also actively constructing highways, railways, airports, seaports, communication networks, and water infrastructure worldwide. Ethiopia's Grand Renaissance Dam Versus China's Three Gorges Take the Grand Renaissance Dam in Ethiopia as an example. Like the Three Gorges, it's a concrete gravity dam, but it uses roller-compacted concrete instead of the traditional poured type. It stands at a height of 558 feet (170 meters) and a length of 5.906 feet (1,800 meters), compared to Three Gorges' height of 591 feet (180 meters) and length of 7,661 feet (2,335 meters). Its reservoir spans 695 square miles (1,800 km²), larger than Three Gorges' 425 square miles (1,100 km²). Its generating capacity is 6.7 million kilowatts—significantly less than Three Gorges' 22.5 million kilowatts—but still the largest in Africa. It costs about $4.8 billion, including transmission infrastructure. Compare that to the Three Gorges' $30 billion (excluding transmission). Ethiopia's dam costs roughly $716 per kilowatt of installed capacity, which is about half the unit cost of the Three Gorges Dam when transmission is included. This shows that, despite securing numerous contracts with attractive pricing and bundled financing, most of these 'Three Gorges Projects' along the BRI are economically unprofitable, leading to poor investment returns. This raises an important question: Why are the per-kilowatt costs of overseas dams significantly lower than those of similar projects in China? 'Great National Instruments' Chinese leader Xi Jinping may have given us a hint. During a 2018 inspection of the Three Gorges Dam, he called it a 'great national instrument' and emphasized that 'true national instruments must be firmly held in our own hands.' Large and mega-scale reservoir and dam projects are among the most critical infrastructure, controlling the lifeblood of a nation—they are truly 'great national instruments.' If the CCP insists on maintaining its grip over these projects, the BRI countries will also seek to gain control over their great national instruments. By then, whether CCP-owned banks can recoup their investments remains a question that only a miracle could answer. Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
