The Belt and Road Initiative aims to connect Asia, Europe and Africa along five routes. It will take advantage of international transport routes as well as core cities and key ports to strengthen collaboration and build six international economic co-operation corridors.
On Christmas Day in 2015, 17 nations signed an agreement to establish the Beijing-sponsored Asian Infrastructure Investment Bank (AIIB). Within a week, the world’s latest multilateral bank was open for business. It now has 57 members.
WHICH way will the military move? There are low-risk and high-risk options facing Burma’s Suu Kyi . . .
IN LOOKING backwards, Aust-ralia’s First Ambassador to China, Stephen FItzGerald, appears to sacrifice balance to partisan proselytizing . . .
IT is important to reflect on how far China has travelled, where it currently stands and where it plans to go next, says Stuart Gulliver, Group Chief Executive of HSBC, in an address to a China Conference in Sydney. Excerpts:
CHINA was correct in trying to contain the fallout from its market collapse — and is continuing to open up its financial sector, says economist Chi Lo . .
AT SOME point, the RMB will be ‘solidly number four’ as the fourth most commonly used currency in global interbank settlements, overtaking Japan, says SWIFT Chief Executive, Gottfried Leibbrandt . . .
THE concept of crowdfunding is new, and businesses need to be educated that funding is available from alternative sources, but in the UK, where government regulators are moving to effectively support the industry’s expansion, some expect turnover to reach £5 million this year and up to £8 billion in 2016 . . .
TODAY’s cyber tools are more sinister, and a family of spyware and spynets has been upgraded to specifically target a financial institution or groups of institutions in a particular geographic area. Microsoft’s Richard Boscovich explains how the industry is fighting back . . .
ASEAN regional payments integration would drive competitiveness and deliver economic growth and productivity improvements . . .
BANKING is going to be ruled by a gang of four – banks, retailers, telecommunications and tech companies, says Rajashekara Maiya, Associate Vice President and Head of Product Strategy of Infosys Finnacle. But rather than fearing the newcomers, be believes banks should be partnering and creating co-operation with fintech. Banks will retain their core competence in the manufacturing of products and risk management . . .
ASIA’s demographics — an average age of 28 compared to 36 in the US and 39 in Europe — will drive its growth in coming decades as youthful dynamism transforms the region, says Piyush Gupta, Chief Executive of Southeast Asia’s largest bank, DBS . . .
THE concept of an ASEAN Troika to facilitate the process of achieving consensus is now embedded in what is known as ASEAN Vision 2025 . . .
ASEAN needs to have a clearer direction of how to engage with the private sector and to align investment from non-ASEAN countries with development plans at both sub-region and regional level, says a Singapore think-tank report. Some believe it could take 10-15 years for the AEC’s potential to be achieved . . .
The US retail chain Walmart Stores, Inc the world’s largest company by revenue, has maneouvred into the driver’s seat of China’s burgeoning e-commerce market.
Walmart now owns one of China’s three largest e-commerce portals, Yihaodian.com (YHD.com), which enjoys annual double-digit growth, and in 2014, turned over US$1.9 billion.
Walmart first invested in YHD.com in 2011 after it decided to abandon its own plan to run a website in China. The US retail giant lifted its stake in YHD.com to 51 per cent in 2012, and in July this year acquired the remaining 49 per cent from Ping An Insurance and the founders of the website — former Chairman, Yu Gang, and former CEO, Liu Junling.
THE last decade was the golden decade for e-commerce – the next decade will be the diamond decade for cross-border e-commerce, says Maggie Zhou, Director of the International B2C Division of Alibaba.
The group has just announced plans to invest US$1 billion in cloud computing globally . . .