Latest news with #Tianjin
Washington Post
18 hours ago
- Business
- Washington Post
As Trump touts tariff deal, China pitches itself as global trade leader
TIANJIN, China — On the same day China and the United States were finalizing a framework to guide negotiations in their bitter tariff dispute, Chinese Premier Li Qiang was making his pitch for Beijing as the solution to global trade volatility unleashed by Washington. At the opening of an annual confab of foreign officials, business executives and scholars organized by the World Economic Forum here this week, Li likened the 'confusion and anxiety' in the global economy to the 2008 global financial crisis and vowed that China was here to help.
Yahoo
19 hours ago
- Business
- Yahoo
UBS Fang on China Market Outlook
Tommie Fang, Head of China Global Markets at UBS, discusses his outlook and strategies for global investors for the Chinese market. He speaks with Stephen Engle on the sidelines at the World Economic Forum's Annual Meeting of the New Champions in Tianjin on "Bloomberg: The Asia Trade". Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
20 hours ago
- Business
- South China Morning Post
China becomes bright spot at uncertain time: SCMP's ‘Summer Davos' highlights
For those attending the World Economic Forum's Annual Meeting of the New Champions this week, 'uncertainty' was the inescapable word. It could be found on the lips of almost everyone; senior Chinese officials, global executives, foreign academics and thought leaders from all fields. This should not come as a surprise. Simmering regional tensions, unpredictable policy pivots from Washington and a foggy picture for global trade were all top of mind as speakers and panelists gathered in the northern Chinese city of Tianjin for the forum, also known as 'Summer Davos'. There, they discussed whether the world will continue to lurch from one crisis to another and how to build consensus in a fraught moment for globalisation. Cross-border investment, structural shifts in China's economy and supply chain security amid the Israel-Iran conflict were also topics of interest. Sentiment was not entirely negative, however. Technological advancement stood out as a bright spot, with many praising China's rapid development of AI and humanoid robotics as an area of vast growth opportunities. To help readers sift through the hours of discussion, we have gathered standout stories from the Post's 'Summer Davos' coverage below. In his keynote address, the premier pledged that China's consumption growth will be a benefit for the global economy, inviting businesses from overseas to invest and enter the country's market to share in the gains.
Zawya
a day ago
- Business
- Zawya
Minister of Planning, Economic Development and International Cooperation Participates in High-Level Session on "Belt and Road Initiative" during World Economic Forum (WEF) Meetings in China
H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated in the high-level discussion session titled "Where is the Belt and Road in 2025?" during her role as a co-chair of the World Economic Forum meetings, held from June 23-26, 2025, under the theme 'Resilient Economic Policies to Keep Up with Global Change' in Tianjin, China. The event saw high-level participation from policymakers, private sector leaders, and entrepreneurs from over 90 countries. During her speech, H.E. Dr. Rania Al-Mashat pointed out that international partnerships are always built on shared and mutual interests, adding that the large number of countries participating in the Belt and Road Initiative reflects its importance. She noted the celebration last year of the 10th anniversary of the initiative's launch, where participating countries showcased projects being implemented under the Belt and Road Initiative, which supported sustainable infrastructure in areas such as transport, renewable energy, and ports. H.E. Dr. Al-Mashat added that each of these projects reflects the national priorities of the countries, and for Egypt, the projects were consistent with the national agenda and strategic goals of the state. Regarding the stimulating factors contributing to accelerating the implementation of these projects, H.E. Dr. Al-Mashat outlined that the Belt and Road Initiative has been a real catalyst in many cases for advancing national strategies. She pointed to the emergence of a number of national and international initiatives that integrate with and support the Belt and Road Initiative in the recent period, noting that China launched the Global Development Initiative several years ago, and many projects implemented under that initiative run in parallel with and support Belt and Road projects. H.E. Minister Al-Mashat also mentioned the issue of financing, explaining that much of the funding directed to these projects came through development finance. She highlighted that, with regard to sustainable transport and renewable energy projects in Egypt, there is a significant mobilization of resources towards the private sector, including low-cost development finance that has contributed to advancing investments. Regarding relations between Egypt and China, H.E. Dr. Al-Mashat stated that the historic visit of the Chinese President to Egypt in 2014 was an important starting point in Egyptian-Chinese relations, followed by the signing of MoU on the Belt and Road Initiative. She noted that relations between the two countries are based on two main aspects: the first relates to investments, with Chinese companies investing in Egypt, and the second is development cooperation between the two governments. Regarding development cooperation, H.E. Minister Al-Mashat indicated that it includes projects in multiple fields such as health, satellites, and capacity building, noting the role of the China International Development Cooperation Agency (CIDCA) in supporting Egypt's development agenda, in addition to China signing a debt swap agreement several years ago. She added that Egyptian-Chinese relations are also based on investment and trade, pointing to a large number of Chinese companies within the China-Egypt Suez Economic and Trade Cooperation Zone in Egypt, where more than 150 companies operate, providing over 10,000 job opportunities, with diverse activities across multiple sectors. H.E. Dr. Al-Mashat reiterated that the Belt and Road Initiative does not impose a specific plan on countries; it is not an initiative based on a centralized blueprint that obliges each country to a specific path or project. Instead, it is a flexible framework that adapts to the priorities of each individual country. Regarding the issue of financing, H.E. Dr. Al-Mashat referred to the "4th Financing for Development" conference to be held in Seville on June 30, a UN conference held every ten years focusing on ways to finance development in developing and emerging economies. She explained that one of the most prominent messages of this conference is that the world needs to reduce reliance on debt and increase the mobilization of resources from the private sector to finance development projects. H.E. Minister Al-Mashat added that each country has full ownership in designing its projects, in line with its national vision, to then include these projects within the broader framework of the Belt and Road Initiative. Furthermore, the cost of implementing these projects represents a common challenge and has been a strongly debated issue on the global stage for years, requiring innovative solutions and multiple sources of financing. She noted that, concerning debt, there are many international initiatives aimed at addressing this issue, including "debt-for-development and investment swaps" mechanisms. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
South China Morning Post
a day ago
- Business
- South China Morning Post
Economists say structural reforms needed to shift China's focus to consumption
While eye-catching technological breakthroughs – led by the DeepSeek artificial intelligence (AI) model – have boosted confidence in China amid intensifying rivalry with the United States, economists at the Annual Meeting of the New Champions in Tianjin have called for structural reforms to make China a consumption-driven economy. 'We can talk about technological supremacy, like AI and all these, but China is never going to be a rich country unless it becomes a big consumer country,' Jin Keyu, a professor at Hong Kong University of Science and Technology's school of business and management, said at the World Economic Forum event, which is also known as 'Summer Davos'. China's political economy mechanism is largely geared towards subsidising production to gain competitiveness, Jin said during a panel discussion on Thursday. 'Chinese goods are so competitive, and everyone's importing Chinese goods, then China is going to have a real problem, not just with the US, but with the rest of the world, because it's no longer about just efficiency, it's about harmony,' she said. 'It's about giving other countries an opportunity to be part of the global supply chain in every single sector.' Jin said China should raise its internal consumption to harmonise its trading relationships, with opportunities to be found in the services sector and in the smaller Chinese cities that young people were flocking back to. 'It will be fantastic if the yardstick competition on the local governments can put consumption as one of the measurements of success,' she added.
