Archive for ‘contributor’

13/02/2019

Bill Gates says China a major contributor to global progress

NEW YORK, Feb. 12 (Xinhua) — Bill Gates, co-chair of the Bill & Melinda Gates Foundation, said Tuesday that exciting progress against poverty and disease around the world has been made in 2018, and China has been a major contributor to this progress.

In a video speech exclusively broadcast via Xinhua, Gates said over the past four decades, China lifted over 800 million people out of poverty and became the second largest economy in the world. Now, it’s stepping up its efforts to help solve some of the toughest challenges in the rest of the world.

He said during his recent visit to China, he attended the Reinvented Toilet Expo and once again saw China’s innovation capacity, with companies showcasing game-changing products that will benefit billions who today do not have access to safe sanitation.

He met Chinese scientists who are developing new drugs to tackle infectious diseases like tuberculosis that affect the poor, and talked with Chinese partners who are sharing lessons from China’s own development, so that African countries can make progress on vital priorities such as strengthening health systems and controlling deadly diseases like malaria, and also improving agricultural transformation.

“I believe in China’s ability to help hundreds of millions of young people in the world’s poorest countries fulfil their potential. As we usher in the New Year, our foundation is committed, as always, to supporting China in building a better future for all,” he said.

The video coincides with the release of Bill and Melinda Gates 2019 Annual Letter, in which they focussed on nine surprises and what can be learned from them.

“Some surprises help people see when the status quo needs to change. Others underscore that needed transformation is already happening,” he said.

“In 2018, we continued to see exciting progress against poverty and disease around the world. But as many nations turn inward, we risk losing sight of crucial global priorities, especially the need to invest in the health and education of young people,” Gates said.

He said one surprise they share in the letter is how much Africa is the world’s youngest continent. Between now and the end of the century, an increasing proportion of young people will come from countries on the African continent.

“Whether we ensure that these people (who) grow up healthily and well-educated and have the opportunity to thrive will determine the future trajectory of the whole globe,” he stressed. “We hope observations like these will prod readers to take action to accelerate the progress the world has been making.”

Source: Xinhua

05/02/2019

China to remain NYSE’s major contributor of int’l IPOs in 2019

NEW YORK, Feb. 4 (Xinhua) — China has been a major market for the New York Stock Exchange (NYSE) when it comes to international initial public offerings (IPOs) over the past few years, and the trend will continue in 2019, according to the exchange.

The wholly-owned subsidiary of Intercontinental Exchange finished 2018 with 125 billion U.S. dollars in proceeds raised from 356 transactions. In a year marked by elevated volatility in U.S. equity markets, NYSE issuers raised 30 billion dollars in proceeds from 73 IPOs, statistics showed.

A total of 25 international IPOs were executed during the year, raising 10 billion dollars in proceeds, including Tencent Music Entertainment Group from China, PagSeguro Digital Ltd. from Brazil, and Hudson Ltd. and Farfetch Ltd. from Britain.

A total of 18 Chinese companies raised more than 4 billion dollars in proceeds last year, the exchange said in its response to Xinhua’s inquiry. The companies are from a variety of industries, including education, hospitality, technology, and automotive.

Alex Ibrahim, head of international capital markets at NYSE, told Xinhua that it was a “huge highlight” to have companies like Tencent Music Entertainment listing on the exchange and raising over 1 billion dollars.

The IPO of Nio, a leading Chinese electric vehicle maker, also raised more than 1 billion dollars and was a very successful transaction, he noted. “It was super exciting to see those cars in front of the exchange and in Times Square,” Ibrahim said in an exclusive interview with Xinhua.

Asked why so many Chinese companies chose to list in NYSE over other stock exchanges, Ibrahim said one major reason is that U.S. market is the deepest in the world and companies want to have access to liquidity.

He added that the companies also want to be next to their competitors that have already been listed in NYSE so as to make sure the evaluation is aligned and make themselves available to the vast number of investors.

“This trend will continue because I think there are fantastic companies in China,” he said.

He said that the human element the NYSE has is also an important reason companies are willing to be listed there.

On the other hand, the demand from U.S. investors’ side for Chinese companies and products is high.

Ibrahim said there are a lot of great entrepreneurs creating and selling new technologies and tapping the growth of Chinese economy.

“Investors want to be part of this growth,” he said, adding that the way to access the growth is through IPOs.

NYSE-listed companies traded with 45 percent lower volatility compared to companies listed and traded on other U.S. exchanges, according to the stock exchange.

Source: Xinhua

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