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You will be living in their world, very soon
Beware the Waking Dragon
Staff members clean up a makeshift hospital in Wuhan, central China’s Hubei Province, March 8, 2020. The makeshift hospital converted from a sports venue was officially closed on Sunday after its last batch of cured COVID-19 patients were discharged. A full disinfection to the hospital will follow. (Xinhua/Xiao Yijiu)
Source: Xinhua
will close its borders to all new visitors from mainland China, including foreigners who have been there within the past 14 days, becoming the first Southeast Asian country to do so in a bid to stem the spread of the deadly coronavirus
.
The island nation has China as one of its biggest trading partners and is a popular destination for Chinese tourists. Figures from the Singapore Tourism Board showed that 248,000 travellers from the mainland entered Singapore last November, while 3.42 million mainland Chinese tourists visited in 2018.
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The visa suspension will come into effect immediately so travellers can be informed in advance, while the travel restriction will start at 11.59pm on Saturday.
The coronavirus has infected almost 10,000 people around the world, killing 213. The World Health Organisation has declared the outbreak an international public health emergency.
The move is an escalation of Wednesday’s announcement that Singapore was stopping the entry of new travellers who had been to Hubei province, the epicentre of the outbreak. Wuhan is Hubei’s capital.
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Residents and citizens of Singapore who have been to China will be able to come into the city state, but will be subject to a 14-day leave of absence during which they are encouraged to stay at home.
The move to close its borders to Chinese visitors comes on the back of local authorities’ assessment that more people in other parts of China are and will be affected by the virus.
The Singapore government will on Saturday announce a fiscal package to help businesses and citizens during the crisis.
Coronavirus: global travel restrictions imposed on Chinese travellers
National development minister Lawrence Wong, who co-chairs a multi-ministry task force to deal with the virus, said the outbreak had already impacted the economy and “will be going on for some time”.
Said Prime Minister Lee Hsien Loong: “It’s going to hurt us. China is a very big source of tourists for Singapore. [With the outbreak], that’s tailed off already considerably.”
Lee said tourism from other sources would also be affected as people took precautions, pinpointing the food and beverage, travel and hotel industries as those that were “bound to be significantly affected”.
“I expect the rest of the economy also to be affected because with China in semi-lockdown mode now, their economy is bound to slow down and our economy is quite tightly engaged with theirs, they are our biggest trading partner.”
Source: SCMP
on Saturday reiterated his promise to keep opening up the nation’s markets to companies and investors from around the world.
In his letter, Xi praised multinational companies for the role they had played in China’s opening up and reform over the past four decades, describing them as “important participants, witnesses and beneficiaries”.
China was willing to continue opening up to benefit not only itself but the world as a whole, he said.
“Only when the world is good, China is good. Only when China is good, can the world get better.”
Sheman Lee, executive director of Forbes Global Media Holding and CEO of Forbes China, said at the Qingdao summit that foreign firms were facing a difficult trading environment in the world’s second-largest economy.
“Multinationals have seen their growth in China slow in recent years because of the growing challenge from local firms, a gradually saturating market and rising operation costs,” he said.
Craig Allen, president of the US-China Business Council, said that many multinational companies were reluctant to release their best products in China out of fear of losing their intellectual property.
China still not doing enough to woo foreign investment
In his letter, Xi said that over the next 15 years, the value of China’s annual imports of goods would rise beyond US$30 trillion, while the value of imported services would surpass US$10 trillion a year, creating major opportunities for multinational companies.
China would also reduce tariffs, remove non-tariff barriers and speed up procedures for customs clearance, he said.
Commerce Minister Zhong Shan said at the opening ceremony that China would also continue to improve market access and intellectual property protection.
The country supported economic globalisation and would safeguard the multilateral trade system, he said, adding that it was willing to work with the governments of other countries and multinational corporations to promote economic globalisation.
, which announced on October 4 it had ended the production of smartphones at its factory in Huizhou, Guangdong province – its last in China – with the loss of thousands of jobs.
said on Friday it has ended the production of smartphones in its last factory in China.
“The production equipment will be reallocated to other global manufacturing sites depending on our global production strategy based on market needs,” the statement said.
Like other South Korean electronics makers, it also is facing the impact of tightened Japanese controls on exports of hi-tech materials used in semiconductors and displays.
On Wednesday, Sony said it was closing its Beijing smartphone plant and would only make smartphones in Thailand.
But Apple still makes major products in China.
“In China, people buy low-priced smartphones from domestic brands and high-end phones from Apple or Huawei,” Park Sung-soon, an analyst at Cape Investment & Securities, said.
“Samsung has little hope there to revive its share.”
Samsung’s factory in Huizhou was built in 1992, according to the company. South Korean media said it employed 6,000 workers and produced 63 million units in 2017.
Samsung manufactured 394 million handsets around the world in 2107, according to its annual report.
Source: Reuters
CHANGSHA, June 30 (Xinhua) — The first China-Africa Economic and Trade Expo closed Saturday in Changsha, the capital city of central China’s Hunan Province.
A total of 84 deals worth 20.8 billion U.S. dollars were reached in trade, agriculture, tourism and other fields during the three-day event, which saw 14 activities, including the opening ceremony, seminars, conferences and forums, as well as an exhibition.
Experts, businessmen and officials from China and African countries discussed the new methods of the cooperation between the two sides during the event.
International organizations including the United Nations Industrial Development Organization, the World Food Programme and the World Trade Organization have sent representatives to the expo.
The expo, with an exhibition area of more than 40,000 square meters, attracted over 100,000 guests and traders, including those from 53 African countries, according to the organizing committee.
Source: Xinhua
continuously updated blog about China & India
continuously updated blog about China & India
continuously updated blog about China & India
CHINDIA ALERT: You'll be living in their world, very soon 