Archive for ‘historic’

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21/04/2020

Coronavirus: China still seen as good opportunity for expansion by some foreign firms despite Covid-19

  • Israeli medical equipment firm IceCure Medical, with an initial US$4 million sales and marketing effort, will open its first Chinese office in Shanghai
  • English shopping outlet company Value Retail sees the chance to lure consumers who have been under lockdowns aimed at halting the spread of the coronavirus
Foreign firms, including Israeli medical equipment maker IceCure Medical and English shopping outlet company Value Retail, still see opportunities in China despite the coronavirus. Photo: AFP
Foreign firms, including Israeli medical equipment maker IceCure Medical and English shopping outlet company Value Retail, still see opportunities in China despite the coronavirus. Photo: AFP

Not only has the coronavirus pandemic not watered down one company’s expansion plans for China, it has given it even greater reason to push forward into the Chinese market.

Israeli company IceCure Medical is forging ahead with opening its first Chinese office in Shanghai, with plans to spend up to US$4 million for the initial sales and marketing effort for its non-surgical breast cancer treatments.

Chief executive Eyal Shamir said he has seen an uptick in Chinese interest in the company’s ProSense product, which allows the freezing of tumours outside a hospital environment, because it can free up facilities badly needed for Covid-19 patients.

The government approval of the company’s Chinese subsidiary is now only days away following a successful product console registration, according to Shamir, and it has already sold two units to the Fudan University Shanghai Cancer Centre for a clinical study.

World Health Organisation warns the ‘worst still ahead’ in coronavirus pandemic
“We are planning a full launch of the product in China for both breast cancer and breast benign tumours as well as other organs,” Shamir said.

“Post Covid-19, there will be a backlog of many surgeries and not only for breast cancer patients.”

IceCure Medical, though, is not the only foreign company eyeing expansion into China despite the risk of secondary outbreaks of coronavirus.

West of Shanghai, English shopping outlet company Value Retail is also expanding its retail space, banking on Chinese shoppers re-emerging from lockdowns to begin

spending again.

After being cooped at home for weeks, people want to be outdoors to enjoy the beautiful spring weather – Value Retail

Value Retail is proceeding with plans to enlarge its Suzhou Village shopping centre from 35,000 square metres (378,000 sq ft) to over 50,000 square metres, while also increasing the number of shops from 120 to 200, which will make it the largest of the 11 venues its controls globally.

It is working closely with the Yang Cheng Lake Peninsula government on a date for construction to start, after seeing a surprising increase in retail sales at its centres in early April. The company’s Chinese subsidiary, Value Retail China, attributed the rise to an increasing number of consumers wanting to “get outside” of their homes after being isolated for several weeks.

Suzhou Village sales have increased 40 per cent each week since the start of April, the company said.

“Thanks to the positive recovery [in spending] over the past several weeks, we are going ahead with the Suzhou Village expansion,” the company said in a statement. “After being cooped at home for weeks, people want to be outdoors to enjoy the beautiful spring weather. We provide a shopping experience for guests in an outdoor environment … the motivation for such an experience after isolation is huge. [Being] outdoors is seen as a luxury now.”

In addition, customers are flocking to both its Suzhou and Shanghai Village centres as a form of domestic tourism because of the curb on overseas travel, Value Retail China said.

Despite the economic destruction that the coronavirus pandemic has caused in China, it also is opening up expansion opportunities for entrepreneurial firms in several industries, such as e-commerce and online delivery, life sciences and infrastructure construction, said EY Asia-Pacific transaction advisory services leader Harsha Basnayake.
However, while businesses within Asia-Pacific expressed a desire for opportunistic expansions, most companies still held a pessimistic view of economic recovery that would drag on into 2021.
American companies already operating in China were even less optimistic with over 70 per cent of businesses surveyed by the American Chamber of Commerce in March saying they were reluctant about expanding in the coming year.

Although it is too early to say if retail property will rise – particularly when we are seeing new habits forming, going from shopfronts to online and how far this new behaviour will stick. China will gives us lots of lessons on this. – Harsha Basnayake

“We are expecting opportunities in real estate, particularly in commercial property and logistics, and we think industries in life sciences, some parts of health care and infrastructure will be interesting,” Basnayake said.
“Although it is too early to say if retail property will rise – particularly when we are seeing new habits forming, going from shopfronts to online and how far this new behaviour will stick. China will gives us lots of lessons on this.”
The Chinese government’s move to increase infrastructure spending to boost the economy will also benefit certain industries, such as cement production.
Despite suffering a 24 per cent drop in sales in the first quarter due to virus-related delays in construction activities, China’s largest cement manufacturer, Anhui Conch Cement, is likely to move forward with plans to expand in part due to its participation in the Belt and Road Initiative, according to analysts at S&P Global.

Though no one would be able to tell exactly what will happen when the Covid-19 uncertainties are not completely gone, signs of recovery in China have brought encouragement to us – Justin Channe

Desires to expand are also not limited to these industries, and even the hard-hit hotel industry is starting to show green shoots.
International hotel chain IHG said that the coronavirus would not derail its new Regent-branded hotel project in Chengdu, which is expected to start construction later this year.

“Though no one would be able to tell exactly what will happen when the Covid-19 uncertainties are not completely gone, signs of recovery in China have brought encouragement to us,” said Regent Hotels & Resorts managing director Justin Channe.

“While we saw business pickup across China over the past Qing Ming Festival holiday, Chengdu and its nearby destinations were among the leading ones. In the long run, we stay confident of the outlook for the China hotel industry, including the luxury segment.”

Analysing how coronavirus broke China’s historic economic growth run
Beyond the crisis, there will be ample opportunities for new merger and acquisitions (M&A) amid business restructures and failures, particularly in China, Basnayake added.

A new EY survey found 52 per cent of Asia-Pacific businesses planned on pursuing M&A in the next year.

“While the crisis is having a severe impact on M&A sentiment, there’s evidence from the survey that M&A activity intentions remain steady in the long term. There are many who recognise this is a time where valuations will be reset, and there will be stressed and distressed acquisition opportunities,” Basnayake said.

“For example, from our interviews with corporations in China, a majority said that Covid-19 has not impacted their M&A strategies, noting that the situation has not led to any cancellations or withdrawals from deals, but only in delays in closing deals.”

Source: SCMP

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28/10/2019

Military World Games of “historic” and “peace” close in Wuhan

(SP)CHINA-WUHAN-7TH MILITARY WORLD GAMES-CLOSING CEREMONY

Xu Qiliang, president of the 2019 Military World Games organizing committee and also vice chairman of China’s Central Military Commission, declares the 7th CISM Military World Games close during the closing ceremony of the Games in Wuhan, capital of central China’s Hubei Province, Oct. 27, 2019. (Xinhua/Xiao Yijiu)

WUHAN, Oct. 27 (Xinhua) — Xu Qiliang, president of the 2019 Military World Games organizing committee, also vice chairman of China’s Central Military Commission, declared the Games close on Sunday in Wuhan, central China, to wrap up the biggest ever “Olympics for the military”.

Chinese Vice Premier Sun Chunlan, also president of the Wuhan Military World Games organizing committee, thinks highly of the organization of the Games and the performances of worldwide athletes.

“We have experienced a successful, wonderful and unforgettable military games in the lastest 10 days. This is a military gala of sharing friendship and safeguarding peace,” said Sun at the closing ceremony.

“This Games have showcased the spirits of the military personnel, which uphold perseverance, challenging limits and striving for better. This Games are full of wonders and achievements and are set to leave China’s marks in its history,” she added.

According to Sun, seven world records had been set and 85 International Military Sports Commission (CISM) affiliated records had been broken here in the tournament, as athletes rated it as a high-level international event, which featured 67 Olympic and world champions.

After 10-day competitions, host China collected 133 golds and 239 medals in total, the first time for a country to grab 100 plus golds. The traditional powerhouse Russia obtained 51 golds and 161 medals in all as an evident runner-up in medal tally, followed by Brazil, the host for 2011 Games, with 21 golds and 88 medals. France, Poland and Germany lined up from fourth to sixth places, all clinching 10 plus golds.

Herve Piccirillo, CISM president, hailed the Games as great success and tagged it with two key words “historic” and “peace” on Friday, lauding its material and spiritual legacy to the host city and the world.

“These are games that will mark the history of military competitions and develop new practices in the future,” said Piccirillo in an interview with Xinhua.

The president picked the word “historic” for its history-making participation of nearly 10,000 military personnel, investment for games organization, mobilization of volunteers and passion from Chinese people.

Explaining the word “peace”, he said, “because the message that is carried by a whole people, because beyond the games, it is all the Chinese people who are spreading this message of solidarity and peace, which corresponds to ‘friendship through sport’, the motto of the CISM.”

The 52-year-old Frenchman repeated his praise on the Games on Sunday at the closing ceremony, saying “the Military World Games leaves Wuhan unparalleled tangible and intangible heritage for the future generations.”

Piccirillo applauded the Athletes’ Village and sports facilities built for the Games. “Athletes’ Village represents the effectiveness of the city government’s effort to balance between urban development and environmental protection,” said he. “The multiple sports venues built in line with highest standards in the world can serve any future international sports event that Wuhan may step up to host.”

It’s the first time all competitions for the Games had been staged in a single city. The size of the host city, as well as its diversified terrain and abundant water resources, made it possible in Wuhan, where 35 sports venues were built or renovated to meet international standards.

A 30-building Village was built to accommodate the athletes and coaches, which is also the first attempt in the Games’ 24-year history.

Piccirillo expressed his sincere thanks to the organizers and volunteers for their contributions and services to the promotion of military sports, commenting “you have completed your jobs excellently.”

“I would like to thank the governments of China, Hubei province, and Wuhan city for enabling us all, valid and disabled, to share the common value of the military under the banner of inclusiveness, equality, universal love and sharing, and this is the greatest success of the event,” said Piccirillo.

“All these will not have been possible without the conscientious efforts of the organizing committee. The volunteers have made our stay in Wuhan better, easier and more convenient.”

Ma Guoqiang, Party secretary of Wuhan city, paid tributes to the participants across the world, saying they have been “writing down a brand-new page in the history of world military sports,” and honored their performances at the event.

“Military athletes from 109 countries have come here and given their full and best plays in the competitions. They have not only demonstrated excellent sports skills, but also showed high morale,” said Ma at the ceremony.

He also praised the athletes with disabilities, noting they have exemplified the military dignity and showcased the power of life with their firm determination and great perseverance.

Ma underlined the theme of “peace” delivered from the Games and the sign of goodwill from China. “Peace is an eternal theme and a shared aspiration of the human society, as well as an unremitting pursuit of the Chinese people,” said Ma.

“This Games, as a sign of goodwill from the Chinese government, the Chinese armed forces, and the Chinese people, convey our yearning and blessing for peace. We hope the Games, like bright sunshine, can dispel the darkness of war and build a bridge of friendship to promote exchanges between civilizations.”

The 2019 Games has attracted the largest number of athletes and presented the most sports in history. Nearly 10,000 soldiers from 109 nations have competed for 329 gold medals in events from athletics, football, swimming, and basketball to parachuting, lifesaving, aeronautical and naval pentathlons.

It’s the first time the Games are open to the public, instead of being confined to barracks. Over 600,000 tickets had been sold, according to the Games executive committee, with men’s basketball, women’s volleyball, swimming and diving in highest demand.

The Games will also leave Wuhan with huge benefits to infrastructure improvements, new subway lines, and environmental upgrades. Over the past three years, the city renovated 1,300 kilometers of its urban roads and saw its metro network reach 330 kilometers in total length. Meanwhile, a total of 360,000 trees were planted.

First held in 1995 in Rome, the Military World Games are a multi-sports event for military personnel organized by the CISM.

Source: Xinhua

Posted in Athletes' Village, Central Military Commission, Central Military Commission (CMC), Chinese Vice Premier, close, historic, hubei province, International Military Sports Commission (CISM), Military World Games, Olympics for the military, peace, President, sports facilities, Sun Chunlan, Uncategorized, vice chairman, Vice Premier Sun Chunlan, Wuhan, Xu Qiliang | Leave a Comment »

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