14 | Thursday, December 6, 2018 HONG KONG EDITION | CHINA DAILY BUSINESS HKShandong ‘brotherly ties’ drive cooperation Shandong, SAR to forge stronger bonds in developing pillar industries The SAR could be a By SUN FEIER in Hong Kong ing Shandong’s Ten Pillar Indus fundraising and [email protected] tries with International Capital” in financing destination Hong Kong on Wednesday. Shandong province — the land of Hong Kong, as one of the freest, for Shandongbased Confucian entrepreneurs — is most competitive and energetic cit companies.” expanding its links with Hong Kong ies in the world, excels at financial to help spread its “integrity and services, trade, as well as shipping Matthew Cheung Kin-chung, credibility” to the world market. transportation, Liu noted. chief secretary for administra The friendship between Shand The cooperation between Shand tion of the HKSAR Government ong and Hong Kong was described ong and the SAR in various fields, by Liu Jiayi, secretary of the CPC including business, technology, Shandong Provincial Committee finance, youth exchange, culture fundraising and financing destina and chairman of the Shandong Pro and tourism, is seen as the future tion for Shandongbased compa vincial People’s Congress Standing direction of bilateral collaboration. nies. Committee, as a “brotherly relation In 1993, Tsingtao Beer — a Hong Kong, he said, is also quali ship that’s rooted in the same ances Shandongbased maker of one of fied to become the headquarters of tors and origins”. the Chinese mainland’s most international business, corporate Shandong people began settling sought after beers — completed its treasury centers and risk manage down in Hong Kong dating back to initial public offering in the Hong ment support for Shandongenter the inception of Hong Kong port, Kong stock market, heralding a prises eyeing global markets. and their population in the city cur new era for Chinese companies “The 10 pillar industries initiated rently stands at around 400,000, seeking to go public outside the by the Shandong government, Liu Jiayi (second right), secretary of the CPC Shandong Provincial Committee, shakes hands with Vin while there are now more than mainland. including five emerging industries cent Lo Hongshui, chairman of the Hong Kong Trade Development Council, at the “Seminar on Devel 2,600 Hong Kong people living in Official data showed that 51 and five advantaged industries, are oping Shandong’s Ten Pillar Industries with International Capital” in Admiralty on Wednesday. PARKER Shandong permanently. Shandong enterprises have floated in line with Hong Kong’s future ZHENG / CHINA DAILY “This year marks the 40th year of in Hong Kong so far. development,” Cheung told the China’s reform and openingup, Chief Secretary for Administra forum. modern ocean economy, medical, tourism and modern financial ser jects were signed on Wednesday and it gives us a great opportunity tion Matthew Cheung Kinchung The 10 pillar industries cover the elderly and healthcare industry, vices. with total investments amounting to hold the 10th ShandongHong said Hong Kong aims to take the new generation of information highend medical industry, modern To further link up the private sec to $31.25 billion, while the value of Kong Investment Promotion Week,” cooperation with Shandong to a technology, highend equipment, and highefficiency agriculture, cul tors from Shandong and Hong projects involving overseas capital Liu told the “Seminar on Develop new height, and the SAR could be a new energy and new materials, ture and creative industry, quality Kong, contracts involving 36 pro reached $15.6 billion. What’s news Shanghai unveils PBOC skips open market operations From Russia with love plans for biological The People’s Bank of China, the nation’s central bank, skipped open market operations for the 29th con medicine industry secutive trading day on Wednesday, the longest stretch since early 2016, citing sufficient liquidity in the By ZHOU WENTING in Shanghai banking system. No reverse repos [email protected] will mature on Wednesday. A $44 reverse repo is a process by which Shanghai plans to build high billion the central bank purchases securi end manufacturing parks for bio Shanghai’s total economic ties from commercial banks logical medicine by 2020 to output of biomedical medi cine last year through bidding, with an agree complement and develop interac ment to sell them back in the tively with Pudong New Area’s future. Zhangjiang, known as China’s were selected for the industrial pharma valley, according to a base and they will be coordinated Refinery building threeyear action plan. at the city level to cooperate with The parks are planned so far in Zhangjiang and maintain high starts in Jieyang the municipality’s districts of Jin end and green development, Cao The construction of a 20 million shan and Fengxian, as well as Lin said. metric tons/year refinery in south gang area in Pudong based on the Liu Xinyu, director of the sci ern China by China National Petro existing industrial parks. They will ence and technology commission leum Corp, the nation’s largest oil focus on medical devices, beauty of Jinshan district, said that there and gas producer by domestic annu and biopharmaceuticals respec are so far 40 enterprises engaged al output, and Venezuela’s PDVSA tively, said Cao Hongming, direct in biological medicine in the dis launched on Wednesday in Jieyang, or of the biological medicine trict, 14 of which have an annual Guangdong province, with a total division of Shanghai Municipal production value of more than 100 investment of 65.4 billion yuan ($9.5 Science and Technology Commis million yuan. billion). The refining and chemical sion, at a media briefing when the “In the future, some projects commissioning test run of the refin commission released the Action may carry out research and devel ingaromaticschemical integrated Plan to Promote the High Quality opment in Zhangjiang,” Liu said. project will take place in 2021, said Development of the Biological Wang Guowei, deputy director CNPC. Medicine Industry in Shanghai of the science and technology com Passengers from St. Petersburg pose for photographs after landing at Sanya Phoenix Interna (201820) on Wednesday. mission of Fengxian district, said Yuan strengthens tional Airport on Tuesday, marking the successful opening of IrAero Airlines’ first St. Peters Enterprises in the industry are that an industrial park covering an against greenback burgSanya air route. The air route is part of the Russian company’s expansion plan, in which it highly concentrated in Zhangji area of 1.8 square kilometers and also plans routes from Sanya to Moscow, Kemerovo and Kazan. SHA XIAOFENG / FOR CHINA DAILY ang, where some companies found specializing in biological medicine The central parity rate of the yuan it hard to acquire land several plus cosmetics was established in strengthened for a second day years ago and now find it even the district in 2015, and clusters of against the US dollar on Wednes harder to obtain a small space for enterprises have been formed in day to the strongest level since Sept an office, Cao said. skincare products, cosmetics, per 25, 2018. The yuan’s central parity the first 11 months of this year, the adjusted third quarter reading FDI up in Malaysian “Actually we’ve suffered the out fumes, health products and bio rate advanced 463 basis points to company said on Tuesday. The com showed Australia’s economy grew flow of some projects with good medicine. 6.8476 against the dollar, following pany has introduced several new by just 0.3 percent, the weakest manufacturing sector prospects owing to the limited “One in four facial masks made a strengthening of 492 basis points models to the market this year, quarterly expansion in two years Malaysian Finance Minister Lim land,” he said. in China is currently produced in on Tuesday, according to the China including the seventh generation of down under. Guan Eng said earlier this week that The action plan has come up Fengxian,” Wang said. Foreign Exchange Trade System. its classic J7 heavy truck. The compa foreign investment in the manufac with measures on land expansion “I believe the ‘Fengxian beauty With signs of ebbing external risks, ny sets a goal of selling 350,000 vehi South Korea sees turing sector remains on the rise so together with the quality and valley’ will see an obvious boost foreign exchange market senti cles in 2020 and 430,000 vehicles in far this year with Chinese investment capacity upgrade of Zhangjiang as when it will become an extension ment has been boosted and the 2023. The number is expected to increase in real GDP leading the way. Citing the Malaysian Shanghai aims for the continued of the Zhangjiang pharma valley,” yuan is unlikely to depreciate reach 500,000 in 2025. South Korea’s real GDP adjusted for Investment Development Authority’s development of biological medi he said. beyond the 7 yuan per dollar mark inflation, grew 0.6 percent in the July latest statistics, Lim said approved cine, one of the city’s strategic The action plan said that Shang within the year, China Securities Australia’s growth September quarter from the previous foreign direct investment in the man emerging industries, and building hai’s goal was that the industry Journal cited market insiders as quarter, central bank data showed. It ufacturing sector surged 250 percent itself into a key area for biological would reach 400 billion yuan in saying. slows in third quarter was identical with the second quarter, yearonyear to 49 billion ringgit medicine. 2020, and applications for 50 Australia’s lackluster national after expanding 1 percent in the first ($11.79 billion) in the first nine Shanghai’s total economic out drugs and 100 medical devices FAW Jiefang trucks accounts data for the three months quarter, according to the Bank of months. According to the statement, put of biomedical medicine developed in the city will be made set sales record to September underwhelmed econ Korea. Facility investment declined approved FDI from China led the way reached more than 304 billion before being marketed by that omists on Wednesday, with the Aus 4.4 percent in the third quarter from at 32 percent of the total, followed by yuan ($44 billion) last year, a year year. FAW Jiefang Automotive Co Ltd, a tralian Bureau of Statistics’ figures three months earlier on weak Indonesia at 18.4 percent and the onyear increase of more than 5.8 It also said that the city aims to truck subsidiary of China’s leading coming in well under market expec demand for machinery. It was up Netherlands at 17 percent. percent, statistics from the com become a biomedical innovation automaker FAW Group, sold a tations. Predicting an uptick of from a 5.7 percent reduction in the mission showed. source with industry clusters with record of 299,273 Jiefang trucks in around 0.6 percent, the seasonally second quarter. CHINA DAILY — XINHUA Jinshan, Fengxian and Lingang international influence by 2025.
REFRESHING GUANGXI Guangxi city bordering Vietnam enjoys booming foreign trade volume
By ZHANG LI in Nanning and Pingxiang shares a land border with from 800 to 1,200 per day.” Vietnam is 40 kilometers from the visa every month at the Pingxiang they are eager to work here,” said He SHI RUIPENG in Pingxiang, Guangxi Vietnam, called the Friendship Pass. He added that customs proce Friendship Pass border port, now crossborder labor service center, Jiangtao, general manager of a Chi Wang Fanghong, Party secretary dures now only take around two works for a Chinese company based which was set up to facilitate labor nese panel company. The foreign trade volume of Ping of Pingxiang, said: “We are acceler minutes, compared to 20 minutes in in Pingxiang. cooperation in 2017. According to Wang Fanghong, the xiang, a city bordering Vietnam, ating infrastructure construction to the past, while paperless customs She pointed out that while she According to the service center, local authorities are seeking to rose 10.6 percent yearonyear to further connect the land border declarations can be completed with could only earn around 1,000 yuan 121,000 Vietnamese had been reg extend the entry visa for Vietnam 34.2 billion yuan ($4.98 billion) in between Pingxiang and Vietnam. in 20 seconds. per month in Vietnam for working istered and got permission to work ese workers to six months in order the first half of 2018 thanks to its Since the Friendship Pass border Border trade in Pingxiang totaled more than 12 hours per day, she now in Pingxiang by the end of Octo to attract more businesses to the advantageous location and a series port — one of our three dedicated 21.2 billion yuan in the first half of receives 3,000 yuan monthly, plus ber. city. of favorable policies. freight corridors — was completed 2018, accounting for 20.23 percent boarding and lodging, for an eight “There are 120 Vietnamese work Situated in South China’s Guang in 2017, the number of vehicles pass of that of the nation’s total. hour day. ers like Hoang Thi Shi in my compa Contact the writers at xi Zhuang autonomous region, ing through the frontier increased Hoang Thi Shi, whose home in The 26yearold can renew her ny. I am glad to save labor costs and [email protected]