A New Era for Global Business

Asia Society is the leading global organization working to .strengthen relationship and promote understanding among the people, leaders, and institutions of Asia and the U.S. Every year the Society presents a high-profile Corporate Conference in a selected city in Asia to examine the implications of macroeconomic trends and geopolitical developments for the region and the world. It provides a leading forum for executives to meet the policymakers and business leaders who shape the Asia Pacific business environment.     

The National Economy Maintained a Steady and Fast Growth in 2006

In 2006, the national economy maintained steady and fast growth.The Central Party Committee and the State Council adopted a series of macro-economic control policies and measures in a timely manner to target the outstanding problems,which emerged in economic development. These policies and measures proved to be effective and helped the economic development avoid moving from speedy growth to over-heating.The economic and social development made a good start for the implementation of the 11th Five-Year Plan.     

Spring Festival Economy Heating Up

China＇s economic tone setting conference for 2009, annual Central Economic Work Conference from last December 8 to 10, pledged to maintain a stable, healthy growth this year through domestic demand expansion and economic restructuring. According to the central authorities, in 2009, China will enhance and improve macroeconomic control efforts and carry out an active fiscal policy, as well as a moderately easy monetary policy. Expenditures in public areas will be ＂substantially increased＂ and those in major areas would be guaranteed.     

Spirit of a Centurial Aged Man

Yuan Geng, who created the Shekou Mode, is a pioneer in 30 years＇ history of China opening to the foreign, and a practicer of the policy by Deng Xiaoping of ＂Shenzhen Special Zone should break a way for China＂. The success of Shekou Mode provided a vane to the rapid development of economic zones and development zones in China, and the ＂growing up＂ of China. Referring to Yuan Geng, some say he is a capitalist, some say he is pioneer, and some say he is a star of reform, and so on. To carve a real picture let＇s go near to him and share the valuable memories.     

China＇s imported auto sales may grow 20% this year

At the start of the world economic turning down a year ago, the Chinese government stepped in and began a program of subsidies to introduce the automobile to rural buyers. The government encouraged small car makers to sell small displacement MPV＇s and other versatile vehicles in a bid to encourage sales and also improve the environment by taking Roviet era traetors off the road.     

G20 Financial Officials Discuss Global Economy in Busan

In September 2009 the Group of Twenty （G20） took over the Group of Eight （G8） as a premier forum ,for international economic cooperation at the Pittsburgh Summit. The first achievement of the new forum, a “Framework for Strong, Sustainable, and Balanced Growth＂, would be tested and improved in the G20 meetings in June 2010. Considering the escalating debt crisis in the euro zone since this spring and calls for getting rid of the weaknesses of the financial regulatory system, the G20 assumed the responsibility to formulate global strategies to keep economic recovery on track and lead world economies and financial systems to get away from the mess in a more prudential and skillful way.     

Congratulatory Messages For the New Year

The Embassy of the Islamic Republic of Afghanistan in Beijing wishes a happy and a prosperous New Year in 2007 to the People and Government of the People＇s Republic of China. In the year of 2007, we look forward to strengthening the relationships between the two countries and further cooperation between the Government of the People＇s Republic of China and the Government of the Islamic Republic of Afghanistan in various fields.     

Outlook of World Economy——Sustaining the Recovery

Afier a deep global recession, economic growth has turned positive, as wide-ranging public intervention has supported demand and lowered uncertainty and .systemic risk in financial markets. The recovery is expected to be slow, as financial systems remain impaired, support from public policies will gradually have to be withdrawn, and households in economies that suffered asset price busts will continue to rebuild savings while struggling with high unemployment.     

China Encourages Share-holding Reform in Defence Industry

China encourages share-holding reform for some of its weapons makers in a bid to expand financial and technical support,according to the recently issued government guidelines.     

To Value the Past Three Decades,To Confidently Look Into the Future!

Iam very grateful for being invited to contribute with some thoughts at this time when Chinese friends prepare to celebrate three significant decades of reform and opening towards the outside world.From the very beginning I confess that I am writing these lines with a great deal of emotion and affection. That is because as a diplomat serving already twice in Beijing, after the reforms and the opening up policies started in China, I had the privilege of experiencing in person some years of the miraculous changes in China＇s social and economic life.     

What＇s Behind the Hype of Decoupling？

The meaning of decoupling “You either believe in decoupling or globalization—but not both”, said Stephen Roach, an economist at Morgan Stanley. AND “you can have both decou-pling and globalization at the same time”, said an article in The Economist. How diffusing about the meaning of decoupling especially in the context of international finance crisis in which the developed countries can＇t hold the world together while the developing riecountries play a more increasing role in the arena of international affairs! We can get a clearer look if we go back to see what happened in the past thirty years. The global economic landscape has shifted dramatically since the mid-1980s. There are two phenomena which attracted our attention. First, with the cost-downing and demand-increasing, there has been a rapid increase in interna-tional trade and financial linkages across national countries. Second, emerging economies have increasingly become major players in the world and they now account for about a quarter of world economic output every year and a more major driver of global growth due to industrial economies＇ slowing economic development.     

Egyptian Delegation to Boost Relations

Egypt's biggest ever business delegation to China will begin a visit on Sun- day to enhance economic co-op-eration between the two countries. The 55-strong delegation will take in Beijing, Shanghai, Guangzhou and Hong Kong during its 10-day trip, said Aly El-Hefny, the Egyptian Ambassador to China. The delegation, organized by the General Authority for Investment and Free Zones in Egypt and the Egyptian Businessmen's     

We Are Engaged in Eliminating Trade Barriers between Africa and China——Exclusive interview with Mohamed A. El Masry, Chairman of the Federation of Egyptian Chamber of Commerce

On November 3 to 5, the Beijing Summit of the China-Africa Cooperation was held in Beijing. The People's Daily, the central government-administrated newspaper, praised this as a New Starting Point for Sino-African Relations, marking that the half-century Sino-African friendship that has stepped into a new historical period. During the forum, China's Foreign Trade interviewed Mr. Mohamed A. El Masry. Chairman of Federation of Egyptian Chamber of Commerce. "In Egypt, people feel very proud of China, and about what the Chinese people have achieved, we believe that as Africans, we want to strengthen ties between China and Africa. That's why Egyptian President Hosny Mubarak will continue to have special visits to China after the summit on November 6 and 7, in order to enhance trade relations between Egypt and China, especially in investment, tourism, etc." Mr. Masri said. By Editor     

Observations on Textile Sector Stocks in China

In the long run,China's textile industry is going to see a new round of growth.Further industrial restrueturing will channel resources to pacesetting and competitive enterprises in all fields from chemical fiber to textile and apparel.     

SMES＇FINANCING,Hard Nut to Be Cracked？

Small and medium-sized enterprises （SMEs） are a crucial driving force for innovation, employment and development and the engines of growth in an economy. But as the sector is characterized by information asymmetries and high processing costs, banks are reluetam to lend to SMEs, which have long faced difficulties in financing. Amid capital depletion, risk aversion and credit contraction in the current global economic crisis, the issue of financing for SMEs is a pressing issue for all natlons, which is not exceptional to China.     

Call for Textile Economic Recover

Chinese textile industry is a traditional sector boasting of competitive strength in global market. It＇s such a common phenomena that Chinese tourists are very difficult in finding a piece of clothes without a ＂Made-in-China＂ label in overseas supermarkets and malls. Even at the first World Expo, it was 12 silk produced in Huzhou, China, that caused a great sensation and won the Gold Expo in 1851, for the white and flexible silk was able to load 700 copper wires. And don＇t need to mention the Silk Road, originated from China.     

Five Points in One Line——Liaoning Costal Economic Zone

To promote the economy in Liaoning and to revitalize the industry base in Northeastern China, we need to improve the competing ability of coastal industrial clusters in Liaoning Province. Through the industrial cluster around the projected Northeast Asia Shipping Center in Liaoning, the province will boost the development and construction of coastal area step by step： join these ports there into a line and form a cluster and then realize the overall prosperity.     

Solutions to the Employment Problem

Financial crisis has caused lots of real economies to close down, which leads to a great number of people lost jobs in turn. Increase in unemployment rate, layoffs and cut in salaries, all related news are on newspapers, televisions and the internet every day, causing a panic to the world. Are we in an economic depression like 1930s？ And isn＇t there anything we can do against this？     

Weaving A Global Network

in recent years, private enterprises have increasingly become a major economic force in China. As such businesses grow, the revenue from the international business that they conduct grows accordingly. China＇s private enterprises are going global. Due to the world＇s economic globalizatlon and China＇s entry into the WTO, both domestic and international competition has come to be more intensified, which to some extent has provided a favorable environment for the international business operations of China＇s private enterprises. A document entitled Opinions of the State Council on Encouraging, Supporting and Guiding the Development of the Non-Public Ownership Economy, Including Individual Ownership and Private Investment, issued in February 2005, explicitly supports the exploration of foreign markets by private enterpris- es. It is the definitive guide for private business in China, and thus has been a driving force behind private enterprises to start international business.     

China Performs an Important Role in the World Economy

By means of mutual trade and investment, China performs, a more. and more important role in the world economy.As the weekly magazine Economist said: Although the United States stock market bubble broke in 2000 to 2001,the world economy survived from depression due to the strong development of Chinese economy. Both China and the United States are depicted by UN Conference on Trade and Development as two growth engines of the world economy. China is quite different from 20 years before.