OBOR News Digest : 1st October – 16th October, 2015
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Ningbo & Hong Kong Working Together For Shipping Opportunities In B&R
At the Ningbo-Hong Kong Economic Cooperation Forum held last week, Ningbo Jiangdong district has signed a strategic trade cooperation agreement with the HKTDC and the Hong Kong Chinese Enterprises Association respectively. The cooperation agreement aims to better integrate shipping businesses in Ningbo and Hong Kong through promoting cooperation in shipping services.
The Jiangdong district currently owns two-thirds of shipping logistics companies in Ningbo. It has divisions from four of the world’s top-ten classification societies, while half of the world’s top-twenty shipping companies have made their ways to operate in Ningbo.
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Fitch : Internationalization of Chinese Banks Driven By B&R
According to the latest report by the international ratings agency, the efforts by the Chinese government to send capitals abroad via overseas projects in the Belt and Road will be beneficial for the internationalization of Chinese Banks.
Fitch also points out that, due to the nature of the projects and China’s current strategic priorities, rapid expansion of overseas projects may increase pressure on bank leverage. However, Fitch also expects bank internationalization to underpin the country’s propensity to support banks.
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CBRC To Promote Regulatory Cooperation In B&R
According to Fan Wanzhong, the director-general of the international department from the China Banking Regulatory Commission (CBRC), the commission has already signed bilateral cooperation MOUs or carried out exchange of letters with 27 financial regulators along the Belt and Road.
The CBRC will also pick up the pace of negotiating with Belt and Road countries that are yet to build bilateral cooperation systems. By creating an effective cooperation system of bilateral regulatory , CBRC hopes to improve cross-border risk response strategies and crisis management.
On the other hand, by the end of June, 11 Chinese banks have already set up a total of 55 branch offices along the Belt and Road region.
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Gansu Takes Chinese Medicine To Belt and Road
The Chinese Medicine Belt & Road International Cooperation Forum has begun yesterday. According to the head of Ningbo’s National health and family planning commission (NHFPC) Liu Weizhong, the Qihuang TCM College has successfully established overseas department in countries including Russia, Kyrgyzstan, Ukraine and Madagascar. Cooperation with places such as Mordovia, France, Kazakhstan, Hungary and Belarus are also about to begin.
Gansu province has been training local medical students for Chinese medicine in Ukraine every year. Chinese medicine companies from Gansu have also started developing business in production and sales of both Chinese medicine and medical equipment in Kyrgyzstan, while the province is also exporting over hundred tonnes of Chinese medicine to New Zealand. At present, the China Association Of Traditional Chinese Medicine has already set up 9 Chinese medicine centers in the Belt and Road through the Chinese medicine international cooperation project.
What We Think:
Following Ningxia province utilizing its distinctive advantage in Halal industry to position itself in the Belt & Road, after few years of actively promoting Chinese medicine related business and culture in overseas market, we also see the Gansu province beginning to take off at the Belt & Road.
The most well-known technique of the Chinese medicine abroad has always been acupuncture, and only on a health supplementing context. Although the use of acupuncture to compliment physiotherapy has also begun to gain popularity in places like America, it is still rather far from being highly accepted by the general public.
At the beginning of the month, Nobel Prize in Physiology or Medicine winner Tu You You has marked the very first Nobel Prize in natural sciences awarded to Chinese. Inspired by traditional medical methods to discover artemisinin’s treatment of malaria, Tu You You has shown the value of long-established Chinese medicine.
This not only brings attention of the world to Chinese medicine. It also certainly has a positive effect on Gansu province to promoting Chinese medicine related industries in the Belt and Road, along with developing the economy of this inland province.
Medical science, after all, is closely related to people’s lives. As long as there is strategic planning in promoting modern Chinese medicine, together with exporting high quality medicine and technology, people from abroad will be more likely to have a good impression to “Made in China”. Not only this can help spread Chinese culture and create a fine image for China, in the long term it will also be beneficial in negotiations of different aspects.