Author Archives: GovWorldMag

Big data report on Belt and Road progress released

The Belt and Road Initiative has boosted cooperation, trade and corporate competitiveness between China and countries along the route, according to a government report released in Beijing on Thursday.

 

A data-based report on the progress of the Belt and Road was released by the Chinese government on October 12 in Beijing. [Photo by Guo Yiming/China.org.cn]


Compiled by the State Information Center and published by the Commercial Press, the second annual report also indicated growing interest in local participation, media coverage and academic research as the initiative moves forward.

The report is internationally sourced from 500 billion rows of data from over 200 companies, 800 think tanks and 1,000 media outlets in over 60 Belt and Road countries to assess progress of the China-proposed initiative in eight aspects.

According to the report, cooperation between China and the Belt and Road countries is increasing, with Russia, Pakistan, Kazakhstan, Thailand and Vietnam ranking as the top five partners. Chinese provinces, municipalities and autonomous regions have shown increased participation in the initiative, with east China taking the lead and west China demonstrating stronger potential.

China’s uptick in trade with other Belt and Road countries, especially neighboring ones, resulted from supportive infrastructure and policy measures. Chinese companies showed more interest in Belt and Road development and have seen an increased presence along the route, especially those in the construction, manufacturing, finance and internet industries.

The report also outlined the engagement and contribution of various think tanks and media outlets to policy coordination, facilities connectivity, unimpeded trade,financial integration and people-to-people bond.

“The report will be vital for further decision-making on the government and corporate level,” commented Ou Xiaoli, a senior official from the State Council’s special working group on the Belt and Road Initiative.

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East Asia

The cost of borders will be met

The government rightly told us this week they will work up their plans for trade and border movements if we leave without a Deal. The good news is that much of the work we need to do to improve our borders and upgrade capacity need to be done with an Agreement as well as without one. The UK is currently spending money on a lorry park in Kent for days when French strikes disrupt cross channel freight, and spending on electronic systems for smoother transit. These systems have to be able to handle both tariff free EU trade and trade with non EU countries with tariffs. We need to make sure there is sufficient capacity on the non EU system in case we leave without a trade deal. There is a £400m plus budget to do what is needed.

I found the comment of the Chancellor surprising that he wishes to limit spending on this. It is urgent and clearly a priority, whether we leave with or without a deal. The Prime Minister in Questions yesterday made it clear the government will  authorise all necessary spending. The government does need to provide in a timely way for our exit. Every matter we can fix before March 2019 is a matter we do not need to ask for delay on from the rest of the EU. There is no reason why they should grant us lots of delays, and every reason to expect they would want us to carry on with contributions to the EU if we seek to delay. The Treasury needs to understand that saving £12bn a year of net contribution is the biggest saving we have in prospect, and far in excess of any sums needed to have smooth functioning borders after March 2019. Getting a system which works from March 2019 will  be cheap at the price.

The Treasury have a dreadful record on Brexit. They backed the losing side. They made a series of forecasts for 2016-17 which were very wrong. They are still exuding pessimism at every available opportunity. The Chancellor needs to get them to cheer up, have new and more realistic and optimistic forecasts, and to find the money we need for a successful and growing economy post Brexit.

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John Redwood MP •

Monster trucks roar into China

Chinese “monster truck” fans no longer have to travel overseas to watch the live motorsport stunt shows, as the world-famous event has been officially launched in the country, it was revealed at a press conference in Beijing on Wednesday.

On July 29, a monster truck performs a stunt in Beijing’s National Stadium, known as the Bird’s Nest, centerpiece of the 2008 Olympics. [Photo by Yujie/China.org.cn]

Following the successful debut of a “Monster Jam” show in Beijing’s National Stadium late July, the adrenaline-charged event, known as “China Monster Truck Show,” will open its 2017 season in southwest China’s Chongqing and Chengdu later this year.

The tour event will be operated by a local Chinese company, Monska, in partnership with the Australia-based Monster Events, which will offer technological support.

The newly-launched China show series will feature trucks easily recognizable by fans around the world including Raptors Rampage, Freak, Mismayhem, Scooby, Extreme and Revenge, with their world-class drivers competing in monster truck racing and freestyle competitions.

The show is expected to grow into a large-scale carnival as it will incorporate more local elements and cultural celebrations to meet China’s unique demand, said Lu Haibo, Monska’s executive president who is responsible for the show.

There will be a total of 10 stops in the 2018 season including Changsha, Nanning, Haikou, Guangzhou, Hangzhou, Wuhan, Beijing, Chongqing, Chengdu and Liuzhou.

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East Asia