23/11/2019
BEIJING (Reuters) – German chemical giant BASF (BASFn.DE) has begun construction of its $10-billion (£7.8 billion) integrated petrochemicals project in China’s southern province of Guangdong, the company said in a statement on Saturday.
The project based in the city of Zhanjiang will be China’s first wholly foreign-owned chemicals complex, for which a framework agreement was signed in January.
It will primarily produce engineering plastics and thermoplastic polyurethane (TPU), and some petrochemical products widely used in automotive, electronics and new energy vehicles industries.
The project’s first phase is expected to be launched in 2022, with production capacity of 60,000 tonnes per year (tpy), taking BASF’s total capacity of engineering plastics and TPU to 290,000 tpy in the Asia-Pacific region.
The entire project is planned to be completed by 2030, the company said, making it the third-largest BASF site worldwide, following Ludwigshafen in Germany and Antwerp in Belgium.
BASF plans to employ a comprehensive smart manufacturing concept at the project, deploying automated packaging, high-tech control systems and automated guided vehicles, it added.
“(The project) will form a solid foundation for a world-class industrial cluster in Zhanjiang and establish stronger business connections between South China and other Asian countries,” Stephan Kothrade, a BASF regional official in China, said in the statement.
The project is “a signal showing China’s efforts of further opening-up are taking effect,” Chinese Premier Li Keqiang said, according to a central government website.
China would treat enterprises with all types of ownership structures, as well as domestic and foreign firms, equally and without discrimination, he added.
Source: Reuters
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18/08/2019
- Beijing will be watching as leaders of African nations and international organisations gather for development summit in Yokohama later this month
- Tokyo is expected to use the conference to articulate how its approach to aid and infrastructure is different from Chinese projects
The Mombasa-Nairobi Standard Gauge Railway, funded by China, opened in 2017. Japan has criticised Chinese lending practices in Africa. Photo: Xinhua
The long rivalry between China and Japan is again playing out in Africa, with Tokyo planning to pour more aid into the continent and invest in infrastructure projects there.
Beijing – which has for decades funnelled money into the continent – will be watching as the leaders of 54 African countries and international organisations descend on Yokohama later this month for the seventh Tokyo International Conference on African Development (TICAD).
Japan reportedly plans to pledge more than 300 billion yen (US$2.83 billion) in aid to Africa during the conference. While that might not be enough to alarm China – which in recent years has been on a spending spree in the continent – it will be paying close attention.
Japan has in the past used the meetings to criticise Chinese lending practices in Africa, saying it was worried about the “unrealistic” level of debt incurred by African countries – concerns that China has dismissed.
This year, analysts expect Tokyo will use the conference to articulate how its approach to African development is substantively different from that of the Chinese.
“So, look for the words ‘quality’, ‘transparency’ and ‘sustainability’ to be used a lot throughout the event,” said Eric Olander, managing editor of the non-partisan China Africa Project.
Japanese Foreign Minister Taro Kono gives a speech at the TICAD in Tokyo in October. Japan will reportedly pledge US$2.83 billion in aid to Africa this year. Photo: The Yomiuri Shimbun
Olander said Japan often sought to position its aid and development programmes as an alternative to China’s by emphasising more transparency in loan deals, higher-quality infrastructure projects and avoiding saddling countries with too much debt.
“In some ways, the Japanese position is very similar to that of the US where they express many of the same criticisms of China’s engagement strategy in Africa,” Olander said.
But the rivalry between China and Japan had little to do with Africa, according to Seifudein Adem, a professor at Doshisha University in Kyoto, Japan.
“It is a spillover effect of their contest for supremacy in East Asia,” said Adem, who is from Ethiopia.
“Japan’s trade with Africa, compared to China’s trade with Africa, is not only relatively small but it is even shrinking. It is a result of the acceleration of China’s engagement with Africa.”
Chinese President Xi Jinping attends a group photo session with African leaders during the Forum on China-Africa Cooperation in Beijing last year. Photo: AP
Japan launched the TICAD in 1993, to revive interest in the continent and find raw materials for its industries and markets for products. About a decade later, China began holding a rival event, the Forum on China-Africa Cooperation.
It is at heart an ideological rivalry unfolding on the continent, according to Martin Rupiya, head of innovation and training at the African Centre for the Constructive Resolution of Disputes in Durban, South Africa.
“China cast Japan as its former colonial interloper – and not necessarily master – until about 1949. Thereafter, China’s Mao [Zedong] developed close relations, mostly liberation linkages with several African nationalist movements,” Rupiya said.
Beijing had continued to invoke those traditional and historical ties, which Japan did not have, he said.
“Furthermore, Japan does not command the type of resources – call it largesse – that China has and occasionally makes available to Africa,” Rupiya said.
Although both Asian giants have made inroads in Africa, the scale is vastly different.
While Japan turned inward as it sought to rebuild its struggling economy amid a slowdown, China was ramping up trade with African countries at a time of rapid growth on the continent.
That saw trade between China and Africa growing twentyfold in the last two decades. The value of their trade reached US$204.2 billion last year, up 20 per cent from 2017, according to Chinese customs data. Exports from Africa to China stood at US$99 billion last year, the highest level since the 1990s. Meanwhile, through its Belt and Road Initiative that aims to revive the Silk Road to connect Asia with Europe and Africa, China is funding and building Kenya’s Standard Gauge Railway and the Addis Ababa-Djibouti Railway. Beijing is also building major infrastructure projects in Zambia, Angola and Nigeria.
Japan’s trade with Africa is just a small fraction of Africa’s trade with China. In 2017, Japan’s exports to the continent totalled US$7.8 billion, while imports were US$8.7 billion, according to trade data compiled by the Massachusetts Institute of Technology.
How speaking with one voice could help Africa get a better deal from China
But Japan now appears eager to get back in the game and expand its presence in Africa, and analysts say this year’s TICAD will be critical – both in terms of the amount of money Tokyo commits to African development and how it positions itself as an alternative to the Chinese model.
Ryo Hinata-Yamaguchi, a visiting professor at Pusan National University in South Korea, said the continent was “economically vital to Japan, both in trade and investments”.
“Moreover, Japan has established some strong links with African states through foreign aid,” Hinata-Yamaguchi said.
“Japan’s move is driven by both economic and political interests. Economically, Japan needs to secure and maintain its presence in, and linkages with, the African states while opening new markets and opportunities,” he said.
To counter China’s belt and road strategy, Japan has launched the Asia-Africa Growth Corridor project, an economic cooperation deal, with India and African countries.
Tokyo meanwhile pledged about US$30 billion in public-private development assistance to Africa over three years at the 2016 TICAD, in Nairobi. But China offered to double that amount last year, during its Forum on China-Africa Cooperation in Beijing.
Still, Japan continues to push forward infrastructure projects on the continent. It is building the Mombasa Port on the Kenyan coast, while Ngong Road, a major artery in Nairobi, is being converted into a dual carriageway with a grant from Tokyo.
Japan is also funding the construction of the Kampala Metropolitan transmission line, which draws power from Karuma dam in Uganda. In Tanzania, it provided funding for the Tanzania-Zambia Railway Authority (Tazara) flyover. And through the Japan International Cooperation Agency, Tokyo also helps African countries improve their rice yields using Japanese technology.
There are nearly 1,000 Japanese companies – including carmakers like Nissan and Toyota – operating in Africa, but that is just one-tenth the number of Chinese businesses on the continent.
Are Chinese loans putting Africa on the debt-trap express?
Olander said Japan’s construction companies were among the best in the world, albeit not necessarily the cheapest, and that Tokyo was pushing its message about “high-quality” construction.
XN Iraki, an associate professor at the University of Nairobi School of Business, said Japan wanted to change its approach to Africa on trade, which had long been dominated by cars and electronics.
“[It has] no big deals like China’s Standard Gauge Railway. But after China’s entry with a bang – including teaching Mandarin through Confucius Institutes – Japan has realised its market was under threat and hence the importance of the TICAD, which should remind us that Japan is also there.”
Source: SCMP
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08/03/2019
- March 8 has devolved into a prime time for online sales campaigns and advertising rather than a moment to celebrate the achievements of women, critics say
Job seekers look at the job advertisements at a job fair for women on the International Women’s Day in Huaibei, Anhui province, on Friday. Photo: Reuters
Every year around March 8, the internet in China is plastered with references to International Women’s Day.
Online commerce sites promote discounts on items from jewellery to massage machines to electronics; groups and individuals post “supportive” comments for the women in their lives; and retailers roll out advertising campaigns with “feminist” messages.
But critics say the true meaning of the day is being lost and the annual commemoration has become less of a chance to celebrate women’s achievements and more of an excuse to push spending.
It has also spawned a phenomenon called “Girls’ Day”, that reinforces the social preference for youth and beauty, they say.
International Women’s Day was first organised by the former Socialist Party of America in New York in 1909 and later became a fixture on calendars among socialists and in communist countries before being adopted by the United Nations in 1975 .
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In China, it has been celebrated since 1924, with women using the day to highlight the need for their rights.
But in recent years, it has also become a tradition for the Chinese public to celebrate March 7, the day before the official women’s day, as “Girls’ Day”, and for commercial platforms to brand March 8 as “Goddesses’ Day” or “Queens’ Day”, and offer discounts to attract sales.
Guo Jing, founder of No 74 Career Women’s Legal Hotline, said the commercial campaigns were diluting the original spirit of the day.
“Women’s day was meant to celebrate the spirit of women fighting for their rights, encouraging women’s independence and empowerment, that they can have all sorts of lives and not be a part attached to men,” Guo said.
“[The campaigns] give the impression that girls are innocent, without social experience, and ‘women’ are older, less attractive.”
Women need opportunities at work, at home and in public life, a rights advocate says. Photo: EPA
Even international firms have come under fire for linking their products with Girls’ Day. On Thursday, in an advertisements for the film Captain Marvel, Marvel Studios’ China team wrote on Weibo, “Happy Girls’ Day! Captain Marvel Brie Larson sends her wishes to all girls in China.”
Commenters said the first Marvel movie to showcase a woman superhero was undermining its message by highlighting a day with a mixed meaning.
“The film basically sells feminism, yet you are talking about Girls’ Day?” one comment said.
China gender and sexuality centre shuts down as censorship chill spreads
Other firms, such as sportswear company Nike, won a round of applause for breaking stereotypes with Dream Crazier video. The video centred on breakthroughs from female athletes around the globe, complete with Nike’s slogan, “Just do it”.
Feng Yuan, the co-founder of Beijing-based group Equality, which is dedicated to women’s rights and gender equality, said many shop owners or platforms wanted to turn any special day into a shopping bonanza, but they only appeared to be trying to please women.
“We should be alerted that the names of ‘Girls’ Day’ or ‘Goddess’s Day’ indicate that many regard women only as consumers, caretakers or an ‘empty vases’,” Feng said.
The focus on women’s appearance was driven home on Thursday night in a fumbled attempt by a university in the country’s north to mark the day. In a Weibo post, Shandong University claimed it was the founder of Girls’ Day on March 7, and the original meaning was “three plus seven equals 10. You score 10 out of 10 points for sweetness.” It claimed the day was for university students to care for women and for female students to showcase their attractiveness.
The post quickly met with criticism. The Intellectuals, an online media outlet, said “the day recognises women’s achievements, regardless of their nationality, ethnicity, language, culture, economic and political standing. It originated from North America and Europe’s workers’ movements in the early 20th century.
“Whether you call it Girls’ Day or Queens’ Day, it’s an insult to the true spirit of the day.”
On campuses throughout the country, it has become a tradition for banners with supportive messages to be put up on buildings and message boards. But rather than celebrating women, many of the banners sexualise them in what critics say amounts to a form of sexual harassment.
“I’ve met scores of women in the spring, but I’d rather be sleeping with you,” one banner read.
The sexualisation of the event is compounded by jokes online that play on the Chinese word for “day” and “sex” to suggest that the real meaning of the day is to “welcome girls into womanhood”.
Women’s rights advocates say the public needs to sever the sexual and commercial ties to the day and focus on the many areas in which women’s rights need to be improved.
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That includes the lifting of a ban on the official Weibo account of Feminist Voices, which before it was shut down without explanation on women’s day last year, had some 180,000 followers and published articles on sexual harassment, women’s rights or workplace equality.
More broadly, in 2018, women still on average made less than 80 per cent of the average salary for men, according to a report by Chinese recruitment platform Zhipin.com. The report said women tended to hit a glass ceiling for promotion and pay due to the demands of marriage and child rearing.
Women’s rights have gained some attention this week as national lawmakers and advisers have met in Beijing for their annual gatherings. Huang Xihua, a National People’s Congress delegate from Huizhou in Guangdong province, ignited debate at the congress with a called for the two-child policy to be scrapped and for unmarried women to be granted equal rights to have children.
Feng, from Equality, was clear about what still needed to be done.
“For women’s day, we don’t need flowery words of praise, but more women-friendly and gender-equal policies, giving women an equal position and opportunity in family, career and public lives,” she said.
Source: SCMP
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03/03/2019
NEW YORK, March 2 (Xinhua) — Capital inflow into Chinese on-shore stock market would accelerate in 2019 thanks to global index supplier MSCI’s decision to hike the inclusion factor of China’s A-Shares from 5 percent to 20 percent in three steps within 2019, according to a research note by Swiss multinational investment bank UBS AG.
The weighting for Chinese A-shares in MSCI Emerging Market index would rise to 3.3 percent by November, up from around 0.7 percent at present, said MSCI.
“This latest MSCI weight increase should help trigger at least 60 billion U.S. dollars in inflows to A-shares in 2019, pushing cumulative foreign ownership above 160 billion U.S. dollars,” said the research note issued on Friday.
Higher A-share allocation is a long-term structural trend for international investors, it added.
Incremental buying in the short term will probably remain biased toward select sectors and stocks currently prefered by overseas capital, such as white goods, insurance, healthcare and electronics, it said.
Meanwhile, the sharp run-up in onshore brokers, partially stoked by recent recovery in onshore stock markets, offers attractive levels to take profits in the sector, according to UBS.
MSCI’s announcement of higher A-share inclusion factor will bring a new pool of international investors to the A-share market, which overtime will help raise transparency and improve governance to these listed companies, said Jorge Mariscal, chief investment officer on emerging markets with UBS Wealth Management.
The weight of China’s A-shares in MSCI Emerging Market index could increase to 15 percent within the next 10 years and active emerging market investors would find it hard to brush aside exposure to Chinese onshore portfolios amid similar moves by other international index providers, according to UBS.
UBS said it remains tactically overweight on Chinese equities in its Asian portfolios and continues to prefer onshore to offshore Chinese stocks with the former set to benefit from capital inflow, more accommodative monetary policy and fiscal stimulus.
Widely-followed Shanghai Composite Index has entered territory of bull market thanks to solid growth so far this year and closed just shy of 3000 points on March 1.
Source: Xinhua
Posted in China alert, Electronics, healthcare, insurance, MSCI, stock market, Swiss multinational investment bank, UBS AG., Uncategorized, white goods |
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CHINDIA ALERT: You'll be living in their world, very soon 