Monthly Archives: September 2015
- Cover story
- Economy outlook
- Financial strategy
- Legal spotlight
- Point of interest
- Remark from editor
On September 24-25, 2015, US President Barack Obama hosted President Xi Jinping of China for a State visit. The two heads of state exchanged views on a range of global, regional, and bilateral subjects.
The United States and China signed a Memorandum of Understanding that establishes a framework for development cooperation to guide future collaborative efforts. The MOU recognizes shared objectives in ending extreme poverty and advancing global development through enhanced collaboration and communication under the principle of development raised, agreed, and led by recipient countries.
2030 Agenda for Sustainable Development. The United States and China are committed to advance sustainable and inclusive international development as laid out in the new 2030 Agenda for Sustainable Development, through expanded cooperation to end poverty and hunger and the promotion of inclusive economic growth, and protection of the environment. The two sides intend to communicate and cooperate in implementing the Agenda and to help other countries achieve common development goals. Continue reading
The United States and China recognize their shared interest in promoting a strong and open global economy, inclusive growth and sustainable development, and a stable international financial system, supported by the multilateral economic institutions founded at the end of World War II that have benefited the peoples of both nations. Both countries recognize and value the substantial contributions that the international financial institutions have made to global growth, higher incomes, the alleviation of poverty, and the maintenance of financial stability since their establishment. The rules-based international economic system has helped to propel China’s unprecedented economic growth over the past 35 years, lifting hundreds of millions of people out of poverty. The United States has also benefited from the emergence of a global middle class that, by 2030, is projected to include more than 3 billion consumers in Asia alone. U.S. exports of goods and services supported approximately 12 million jobs in the United States in 2014. China has a strong stake in the maintenance and further strengthening and modernization of global financial institutions, and the United States welcomes China’s growing contributions to financing development and infrastructure in Asia and beyond. The international financial architecture has evolved over time to meet the changing scale, scope, and diversity of challenges and to include new institutions as they incorporate its core principles of high standards and good governance. Both countries are committed to supporting this international architecture and welcome the greater role of the G-20 in global economic governance to ensure an inclusive, resilient, and constantly improving international economic architecture to meet challenges now and in the future. In light of China’s increased share of global economic activity and increased capacity, the United States welcomes China playing a more active role in and taking on due responsibility for the international financial architecture, as well as expanded bilateral cooperation to address global economic challenges. To this end: Continue reading
Social impact investment, which has been adopted by western countries, begins to spread in China. On September 18th, 2015, the Fourth China Charity Fair (“CCF”) and the China Education Philanthropy Fair 2015 (“CEPF 2015”) were held in Shenzhen Convention and Exhibition Center, drawing the public’s close attention to social finance — especially social finance products on education. It has become an essential goal to find the value of social finance and bring more people to share in the common values of this field. Continue reading
Recently, the General Office of the Chinese State Council issued the Guiding Opinions on Accelerating the Development of the Financial Leasing Industry (hereinafter referred to as the Guiding Opinions), to comprehensively and systematically accelerate the development of the financial leasing industry. Continue reading
Ocean Park Hong Kong, commonly known as Ocean Park, is a marine mammal park, oceanarium, animal theme park and amusement park, situated in Wong Chuk Hang and Nam Long Shan in the Southern District of Hong Kong. It is, together with Hong Kong Disneyland, one of the two large theme parks in Hong Kong. Opened in 1977 by the then Governor of Hong Kong Sir Murray MacLehose, Ocean Park has grown to over 80 attractions and rides after the completion of a HK$5.5 billion Master Redevelopment Plan (MRP) begun in 2005. The park has won several awards, including The World’s Seventh Most Popular Amusement Park and one of the “50 Most Visited Tourist Attractions in the world” by Forbes. In November 2012, Ocean Park became the first theme park in Asia to win the Applause Award from the International Association of Amusement Parks and Attractions. Continue reading
Mr. Chen Dongsheng is Chairman of the Board of Directors and Chief Executive Officer of Taikang Life Insurance Co., Ltd. He is also President, China Association of Actuaries, Vice Chairman of Insurance Association of China, Vice Chairman of China Association of Auctioneers, and he is named Outstanding Alumnus of Wuhan University. Continue reading
There is no denying that there are real estate bubbles in mainland China, Hong Kong, Macau and Taiwan. We have seen a lot of counter measures taken by governments to make the bubbles smaller without bursting them. It is understandable that governments don’t want to see real estate bubbles burst because capsizing the real estate market will certainly bring a devastating blow to any economy, weak or strong. Continue reading