【CONTENTS】
I. Investments between China, GCC booming, says Gulf Capital CEO
II. "Invest in China" Mideast promotion event held in UAE's capital
III. Interview: Belt and Road Initiative boosts economic potential of countries involved, says Russian expert
IV. Development along China-Laos Railway gains momentum
V. Innovating collaboration mechanisms to build the "intelligent" foundation of a Green Silk Road
I. Investments between China, GCC booming, says Gulf Capital CEO
ABU DHABI, Dec. 10 (Xinhua) -- The co-founder and CEO of Abu Dhabi-based alternative investment firm Gulf Capital told Xinhua that investments between the Gulf region and China are booming and expecting more windfalls in the years ahead.
"We're attracting a lot of entrepreneurs and investors from China and Asia to the region, and we are also taking our investments to China and Asia to connect these two regions," Karim El Solh told Xinhua in an interview on the sidelines of Abu Dhabi Finance Week (ADFW), which runs from Dec. 9 to 12.
"We invest in the Gulf region, but increasingly pushing into Asia. We've done 15 acquisitions in Asia, including China," he highlighted. "The growth momentum in the Gulf is remarkable, entering our golden age and growing at 5, 6, or 7 percent annually."
"We're seeing a lot of Chinese entrepreneurs and business people coming to the Gulf. They see the growth and bring something unique. Not just capital, but also technology, great companies and startups, and that collaboration is very exciting," El Solh stressed.
Established in 2006, Gulf Capital is one of the largest private equity firms in the region, investing from the Gulf Cooperation Council (GCC) countries to the rest of Asia. The firm specializes in private equity, growth capital, and real estate, managing 2.4 billion U.S. dollars in assets across its portfolio.
According to El Solh, Gulf Capital is planning to launch its fourth fund, with 60 percent of its investment focused on the Gulf region and 40 percent on Asia.
ADFW is an annual flagship financial event taking place in the capital of the United Arab Emirates.
(2024-12-11 Source: Xinhua News Agency)
II. "Invest in China" Mideast promotion event held in UAE's capital
ABU DHABI, Dec. 12 (Xinhua) -- The "Invest in China" Middle East promotional event concluded here on Thursday.
During the two-day event, around 40 Chinese companies specializing in new energy, advanced manufacturing, biopharmaceuticals, and information technology engaged with over 70 Middle Eastern sovereign wealth funds and investment institutions through discussions and live presentations.
In his address to the event, Chinese Vice Commerce Minister and Deputy China International Trade Representative Ling Ji emphasized that innovation is a crucial link between China's market and Middle Eastern capital, highlighting China's encouragement of venture capital and private equity investment, along with its recent reforms to facilitate foreign investment in listed companies.
Ling invited Middle Eastern investors to seize opportunities arising from China's development and deepen cooperation with China on industrial innovation.
Chinese Ambassador to the United Arab Emirates (UAE) Zhang Yiming described the UAE as a bridge connecting Chinese and Middle Eastern capital, expressing hope that the event would foster in-depth exchanges between the two sides and result in successful partnerships.
Fatima Al Hajri, director of the Investment and Talent Attraction Department at the UAE's Ministry of Economy, noted that China is the UAE's largest global trading partner and that around 10,000 Chinese companies are operating in the country across various emerging sectors.
Mohammed Zainal Al Zarooni, director of Foreign Investment Development at the UAE's Ministry of Investment, acknowledged the frequent interactions between Chinese and UAE trade and investment institutions, and expressed optimism about bilateral cooperation opening new opportunities for Chinese businesses in the Middle East.
Participating Middle Eastern investors and institutions also praised China's robust market potential, technological prowess, reliable supply chains, and rich talent pool during the event, calling China an ideal destination for innovative investments.
(2024-12-13 Source: Xinhua News Agency)
III. Interview: Belt and Road Initiative boosts economic potential of countries involved, says Russian expert
MOSCOW, Dec. 12 (Xinhua) -- Countries participating in the China-proposed Belt and Road Initiative (BRI) were offered an opportunity to increase their economic potential significantly, Andrei Ostrovsky, chief researcher of the Institute of Oriental Studies of the Russian Academy of Sciences, has said.
"The BRI is committed to joint development and mutual benefit of participating countries," the expert told Xinhua in a recent interview.
To implement the initiative, China has promoted the establishment of financial institutions such as the Asian Infrastructure Investment Bank and the Silk Road Fund, the professor said, noting that partner countries have thus acquired facilities that they might not be able to build on their own.
He emphasized that these infrastructure projects, owned by the respective governments, are designed for long-term use.
Ostrovsky was particularly impressed by the construction of the China-Laos Railway. He said that Laos had almost no modern railways before, which seriously hindered the country's economic and social development. With China's assistance, the new railway has opened doors to development opportunities for Laos.
In addition to enhancing regional economic integration and infrastructure development, the expert said that the initiative has also helped to expand customs cooperation, facilitate financial transactions, reduce investment and trade barriers, promote local currency settlement, and deepen humanitarian cooperation.
The share of countries participating in the BRI in China's foreign trade is growing steadily and climbed to over 40 percent in 2023, demonstrating that the BRI is effective and has a significant impact, said the expert.
Some European and American experts who were initially skeptical about the BRI have come to acknowledge its role, believing that it has not only promoted the economic development of China and participating countries, but also fostered global connectivity, and facilitated the formation of a unified world market, he said.
"The BRI reflects China's efforts to reform the global governance system and enhance the role of the Global South countries in the world economy," said Ostrovsky.
Amidst the surge of protectionism in Western countries, developing countries need to strengthen cooperation and take all measures to ensure stable and efficient global supply chains, he added.
(2024-12-12 Source: Xinhua)
IV. Development along China-Laos Railway gains momentum
Since its launch on December 3, 2021, the China-Laos Railway has emerged as a catalyst for regional economic growth. According to the China State Railway Group Co., Ltd., the railway had handled over 43 million passenger trips and transported 48.3 million tonnes of cargo as of December 2, 2024.
Southwest China's Yunnan Province has seized the opportunity presented by the China-Laos Railway over the past three years, focusing on enhancing corridor capacity, building logistics hubs, developing industries along the route, and nurturing business entities for open development.
--Facilitated trade
Tonghai County in Yuxi City is a major vegetable production base in Yunnan Province. Tonghai now has 8,497 agricultural business entities, 37 of which are engaged in vegetable import and export. Since the railway's operation, local vegetable export enterprises have further expanded business footprint, increasing their domestic and international reach, said Wang Huaming, deputy head of the county.
At present, 70 percent of the county's vegetable products are sold to over 130 major cities in China, and 30 percent of these products are exported to Southeast Asia and the Middle East.
Yukun Iron and Steel Group Co., Ltd. is a large integrated steel enterprise located in Huanian Town, Eshan County, Yuxi City. Currently, a railway line connecting the company's steel mill and the Huanian Station on the China-Laos Railway is under construction. The railway line can directly transport the iron ore imported from Laos to the factory, and the steel products produced by the company can also be directly transported to South Asia and Southeast Asia, said Chen Pijin, deputy general manager of the company.
With the successful operation of several international freight trains, such as the "Lancang-Mekong Chengdu-Chongqing-Europe Express" and "Shanghai-Kunming Lancang-Mekong Express", the China-Laos Railway has significantly expanded the transport network which now covers 19 countries and regions.
-- Upgraded industries
To optimize industrial development along the railway, Yunnan Province has issued a guideline for industrial layout along the China-Laos Railway, creating a complementary industrial development pattern along the railway within China.
At the Wild Duck Pond Valley Coffee Estate, many tourists come for a fresh experience. "There's a growing trend among consumers to taste coffee at its origin, and the China-Laos Railway has made it quite accessible," said the estate manager.
Pu'er City is continuously expanding the influence and recognition of its "Pu'er Coffee" brand by developing coffee estates that offer sightseeing, picking, processing, and tasting service. Over 20 boutique coffee estates have been established across the city.
Xishuangbanna Prefecture is working on key industries such as cultural tourism, healthcare, rubber, Pu'er Tea, and biomedicine. In 2023, the prefecture achieved a comprehensive output value (including import and export via port) of 260 billion yuan. In the first half of this year, it recorded a comprehensive output value of 140 billion yuan and a remarkable industrial investment growth rate of 118.8 percent.
-- Accelerated globalization
Mohan Town, located in Mengla County, Xishuangbanna Prefecture, at the southernmost tip of Yunnan Province, is a national-level land port to Laos.
The Mohan Nanpo International Industrial Demonstration Park opened on December 3, 2024. As the first company to settle in the park, Sanlian Garment Co., Ltd. plans to build a digital, intelligent, and modern garment manufacturing base with 72 production lines and an estimated annual output value of 1 billion yuan upon the project's completion, according to Jiang Gaoyun, the company's production director.
Kunming has introduced new models to attract industries from the central and eastern China to relocate to Mohan. Kunming has signed a cooperation agreement with China Railway, which has participated in 24 projects in Mohan, with contract amount reaching around 4 billion yuan.
Statistics showed that in 2023, the fixed asset investment in the China-Laos Mohan-Boten Border Economic Cooperation Zone rose by 370 percent year on year.
(2024-12-07 Source: Xinhua)
V. Innovating collaboration mechanisms to build the "intelligent" foundation of a Green Silk Road
The high-quality development of the Belt and Road Initiative emphasizes the concept of a "Green Silk Road as the guiding principle," showcasing broad prospects for win-win cooperation. On December 12, nearly 100 experts and guests from the green and low-carbon development field, both domestic and international, gathered at the Belt and Road Green and Low-Carbon Expert Network (GLEN) Dialogue and the Belt and Road Green Development International Alliance (hereinafter referred to as the "Green Alliance") Partners Exchange Meeting. The event aimed to share experiences, deepen consensus, and pool strengths to advance green and low-carbon cooperation, provide recommendations for achieving sustainable development, and contribute wisdom and energy toward the green transition of the Belt and Road Initiative.
Innovating Mechanisms Experts Discuss Pathways for Green Development Cooperation
The Third Belt and Road Forum for International Cooperation, held in October 2023, proposed the establishment of a green and low-carbon expert network. The importance of this initiative was further emphasized during the Fourth Belt and Road Construction Work Symposium earlier this month. The green and low-carbon expert network is both an innovative mechanism for enhancing international exchanges in emerging fields, and one of China's key measures under the "Promoting Green Development" action within the eight initiatives supporting the high-quality development of the Belt and Road Initiative.
"Looking ahead, we are full of expectations for building a Green Silk Road," noted Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment. He outlined three key priorities:
1. Fostering Consensus: Build a broader green cooperation platform leveraging the Green Development International Alliance to deepen exchanges and interactions.
2. Innovating Cooperation Paths: Focusing on the practical needs of developing countries for green and low-carbon transitions, the Belt and Road Green and Low-Carbon Expert Network and the Green Development Investment and Financing Partnership will be leveraged to collaboratively discuss and develop green solutions.
3. Promoting Pragmatic Cooperation: Facilitate the implementation of more green and low-carbon projects in developing countries, while encouraging the participation of enterprises, think tanks, and research institutions to create a diversified cooperation framework.
Supported by the Ministry of Ecology and Environment, the Green Alliance serves as the secretariat for GLEN. Experts participating in the dialogue represent various fields, including climate, energy, environment, finance, and international cooperation. They unanimously agreed that the GLEN platform allows cross-sector sharing of research outcomes and establishes cooperative mechanisms. These efforts support partner countries and regions in improving top-level designs and standard systems for green and low-carbon development. Moreover, GLEN offers decision-making advice, theoretical research, project evaluation, and capacity-building support for enterprises, financial institutions, and other stakeholders involved in Belt and Road green international cooperation projects.
Rui Wanjie, CEO of Rui Na Xin International Consulting, emphasized the importance of the six key tasks proposed by GLEN for advancing the green and low-carbon transitions of partner countries. For African nations, she highlighted that future China-Africa cooperation should prioritize the development of green infrastructure and related projects in manufacturing, environment, and commodities to promote ecological civilization on the continent.
Significant Achievements Drive Continuous Green and Low-Carbon Development of the Belt and Road Initiative
Guo Jing, Chair of the Green Development International Alliance (Green Alliance), highlighted the significant achievements in 2024 across policy research, international communication, and conference organization.
Throughout the year, the Green Alliance and its domestic and international partners conducted joint studies on key areas of the Green Belt and Road, including green energy, green finance, and climate financing. Reports such as the Belt and Road Green Development Outlook, China's Actions on South-South Cooperation in Addressing Climate Change, and Cooperation on Low-Carbon Energy Transition between China and Key Belt and Road Countries were officially released during the conference. These reports, as milestones in building an international think tank platform for Green Belt and Road development, systematically showcased progress, shared China's green development practices, it also serves as a valuable reference for identifying opportunities and challenges in building a Green Belt and Road and advancing international cooperation in ecological and climate-related fields along the Belt and Road.
Zhang Jieqing, Chief Representative of the Natural Resources Defense Council (NRDC) Beijing Office, stated that four institutions from China, Indonesia, and the Philippines jointly completed the report titled "Cooperation on Low-Carbon Energy Transition between China and Key Belt and Road Countries." The report examined the needs, current status, and challenges of low-carbon energy transitions in Indonesia and the Philippines, offering practical recommendations. The report highlights that Indonesia has the most abundant and diverse renewable energy resources among ASEAN countries and has developed a new five-year strategy aiming to achieve at least 8% green and sustainable economic growth. However, its energy transition faces multiple challenges. The report recommends further deepening green and low-carbon cooperation between China and Indonesia by:
1. Establishing investment standards and high-level dialogue mechanisms.
2. Strengthening collaboration on demonstration projects through the Green Development Investment and Financing Partnership.
3. Enhancing cooperation on power grid infrastructure development to improve energy solutions for islands.
Partners "Join Hands" to Expand the Green and Low-Carbon Development Network of the Belt and Road Initiative
At the year-end exchange, new and existing partners of the Green Belt and Road Initiative gathered to explore topics such as green development pathways, clean energy transition mechanisms, carbon credit trading systems, and the relationship between green transformation and economic development. Practical solutions were discussed to empower sustainable development for more countries. During the event, the Green Alliance signed Memorandums of Cooperation with various partners, committing to closer cooperation in areas such as energy transition, green low-carbon transportation, and the Belt and Road carbon footprint.
At the meet of exchange, the Ministry of Energy of Honduras, China Power Construction Corporation, and the Green Alliance signed a Memorandum of Cooperation. The three parties will strengthen cooperation in areas such as power planning and evaluation, renewable energy project development, clean power technology sharing, and capacity building, to support Honduras in achieving green, low-carbon, and sustainable development.
Fabby Tumiwa, Executive Director of Indonesia's Institute for Essential Services Reform, emphasized that in the process of low-carbon development, countries need to strengthen cooperation rather than act individually, as only through joint efforts can the challenges be addressed.
By signing the Memorandum of Cooperation, the Green Alliance and Indonesia's Institute for Essential Services Reform will work together within the framework of the Green Development Investment and Financing Partnership (GIFP) to deepen China-Indonesia and China-ASEAN green and low-carbon cooperation, promoting energy low-carbon transitions and green transportation development. Additionally, the Green Alliance will collaborate with the Hong Kong Quality Assurance Agency, focusing on mutual recognition of carbon footprint rules and capacity building. It will also cooperate with the China Quality Certification Center on the development of carbon footprint platforms and rules, jointly advancing innovation and development of the Belt and Road carbon management system.
(2024-12-13 Source: Ministry of Ecology and Environment)
