Asia Pacific Daily – Breaking News, Asia Pacific, World, China, Business, Lifestyle, Travel, Special Report, Video, Photo…Asia Pacific Daily – Breaking News, Asia Pacific, World, China, Business, Lifestyle, Travel, Special Report, Video, Photo…

To download APD News app

1. Please scan the QR Code 2. Download and install APD News App

WB commends Indonesia over its economic resiliency

BY APD writer Aditya NugrahaJAKARTA, Dec. 15 (APD) – Indonesia received commendation from World Bank (WB) for its economic resiliency amid volatilities in global market, thanks for the nation’s sound macroeconomic and economic policy coordination.The commendation was suggested in WB’s recently-released Indonesia Economic Quarterly December edition report.Praising the economic reforms applied by Indonesian government, WB attaches great importance for such a move in promoting trade and foreign direct investment (FDI), saying that it would further lessen the nation’s Current Account Deficit (CAD) and bolstering economic resiliency as well.“Even though pressures from depreciating exchange rate value has been receding, Indonesia should overcome external pressures by expanding the exports and investments,” Senior Economist at WB Indonesia representative office Frederico Gil Sander said to publish the report here recently.He added that Indonesia managed to secure a 5.2 percent economic growth in the third quarter this year due to its sound fiscal and monetary policies that effectively supported macro-economic policies.  The growth during the period was highly contributed by significant investment growth particularly in construction sector that apparently improved if compared to the previous quarter.Massive government’s expenditure managed to cover the decreased public consumption that eventually propelled the nation’s consumption growth in general, he added. Conveying WB’s projection for Indonesia’s economy condition next year, Head of WB Indonesia and Timor Leste Representative Office Rodrigo Chaves said that Indonesia may see a 5.2 percent growth, on the back of expanding investments. Indonesian government has launched 16 economic reform packages since 2014 that highly facilitate foreign investors to invest in the country. Indonesia has received investment grade status from international rating agencies for its strong economic fundamentals and economic reform drive.(ASIA PACIFIC DAILY) 

Top Stories

The Belt and Road

2018 Silk Road Business Summit to be held in Zhangjiajie City on October 16, 2018

On September 29, the press conference of 2018 Silk Road Business Summit in Zhangjiajie city was successfully held in Changsha, Hunan Province. Leaders from the China Association for Friendship, Hunan Sub-council of China Council for the Promotion of International Trade, Zhangjiajie Municipal Government, Silk Road Chamber of International Commerce (SRCIC), and more than 30 mainstream media representatives attended the press conference. The announcement was made for the summit to be held in Zhangjiajie city on 16-17 October 2018. The summit is to actively respond to the Belt and Road Initiative, to build a multilateral economic and trade platform, to promote the formulation of international standards and the building-up of the Belt and Road brands, to explore the new mode of cultural exchange, to create the international tourist attractions, to facilitate the synergy of cultural industries, cultural undertakings, and cultural tourism as contribution to the development of a shared future for the world. The abundant resources of SRCIC will uplift Hunan province in its advantages in the Belt and Road construction and in its strategy of “Innovation Leads and Open Policies for Rise” to expedite Hunan province as an important inland hub of the Belt and Road.  The Zhangjiajie Summit is the 3rd silk road business summit organized by SRCIC, following the successful summits in 2016 and 2017. It’s the first summit with its venue in a city away from Xi’an. The summit in Zhangjiajie city will give a full play to the city’s unique natural resources, ecological culture, and its tourist economy.By report, Silk Road Urban Alliance Roundtable: Belt and Road International Cooperation on Tourism is scheduled at the summit. Themed with strengthening the tourist cooperation and facilitating the Belt and Road construction, the participants are expected to share views on setting up mechanisms for the Silk Road Urban Alliance and have in-depth discussion on promoting tourist and economic development. The summit will release consensuses, international standard proposals and tourist destination development strategies.Over the five years, the Belt and Road Initiative has gained strong support from the Belt and Road countries. International commercial associations and enterprises are important participants in the Belt and Road construction. SRCIC, one of the summit organizers, is the first transnational business confederation named after the Belt and Road and mainly composed of national chambers of commerce from the Belt and Road countries. Since its establishment in 2015, SRCIC is devoted to narrating the Belt and Road stories, initiating the Belt and Road voices, and facilitating the cultural exchanges in building up pragmatic platforms for win-win cooperation. Currently SRCIC has 129 organizational members from 79 countries, including state-level business organizations and millions of affiliated enterprises. SRCIC serves as a bridge connecting enterprises and governments, providing a cooperative platform between business associations and SRCIC members. It plays a vital role in advancing economic and social development with an emphasis on international collaboration and global governance.According to the plan, the annual silk road business summits are to be held in different SRCIC member countries for bigger influence and popularity, and for building up more cooperative platforms to benefit SRCIC commercial association members and enterprise members. (ASIA PACIFIC DAILY)

2018-10-01

Belt and Road Initiative paves way for win-win cooperation between China and Czech

By APD Writer He WeiIn July last year, the first China-EU freight train departed from Prague, captial of Czech,to Yiwu, a city in east China’s Zhejang Province. The new cargo train service marked the official launch of “the Belt and Road Initiative” in Czech. Thanks to joint efforts of both sides, the economic and trade ties between China and Czech Republic is heading for a bright future.During the Belt and Road Forum for International Cooperation in May 2017, two months before the opening, China signed the Memorandum of Understanding to Jointly Coordinate and Promote Cooperation and Project Implementation with Czech. According to the memorandum, more efforts will be made to set up a China-Czech Cooperation Center under the Belt and Road initiative, a key project bank and a cooperation platform, integrate domestic and foreign resources, as well as adjoin and implement projects On the sidelines of the The Working Conference of China-Czech Jointly Coordinating and Monitoring Cooperation Plan and Projects under the Framework of the “Belt and Road Initiative”, Liu Jielei, vice chairman of the Czech-China Friendship Association, told the Asia Pacific Daily (APD) that besides geographic advantage, Czech enjoys a sound investment environment because of its stable domestic policies, friendly policy toward China, lower business taxes and labor cost than that of in other European countries.The "Yixin’ou (Yiwu-Xinjiang-Europe) cargo train, which began in Yiwu, was hailed as an important bridge linking Asian and European continents and a signficiant achievement in the early stage of the initative by Chinese President Xi Jinping. Xu Jie, general manager of Rongsheng Travelling (Czech) Investment Co., Ltd., said because of its important location, they have launched two projects including the Czech-Chinese Technology Business District (CCTBD) project and the South Moravia Chinese Herbal Spa Project in Prague during the past two years, stressing that initial success has been achieved thanks to the initiative.Transalated by Hu Yahui(ASIA PACIFIC DAILY)

2018-06-12