CBN丨Multilateralism key to navigating global challenges- AIIB president
Hieveryone.I’mStephanieLI.
Comingupontoday’sprogram
AIIB's10thAnnualMeetingoftheBoardofGovernorstakesplaceinBeijing;ChinesepremierholdstalkswithSingaporeanPM.
Here’swhatyouneedtoknowaboutChinainthepast24hours
Inthefaceofmountingchallengestoglobaldevelopment,AsianInfrastructureInvestmentBank(AIIB)presidentJinLiqunbelievesthatmultilateralcooperationremainsthesurestrouteforward.
"Theessenceofmultilateralismliesincooperationthatbenefitsall,"JintoldXinhuainanexclusiveinterviewaheadofAIIB's10thAnnualMeetingoftheBoardofGovernors,scheduledforJune24to26inBeijing.
"Asamultilateralinstitution,AIIBaimstoserveasabridgeforbothNorth-SouthandSouth-Southcollaboration,"hesaid.
Foundedin2015with57members,AIIBhasgrownto110membersworldwide.Overthepastdecade,ithasapprovedoverUSD60billioninfinancingfor320projects,mobilizingmorethan200billiondollarsininfrastructureinvestment.
"Asiacannotthriveinisolation,"Jinsaid,notingthatwhilethebank'sprimaryfocusisAsia,itsworkalsosupportsbroadercooperationthatcontributestomeaningfuldevelopmentoutcomesaroundtheworld.
Jinattributesthebank'sprogresstoitsstrongcommitmentfromthestarttohighstandardsandsoundgovernance.
"WebuiltAIIBtobelean,clean,andgreen,andthesecorevalueshaveresonatedwidelyamongourmembers,"hesaid."Fromdayone,weembeddedbestpracticesdrawnfromothermultilateraldevelopmentbanksintoourpoliciesandgovernanceframework."
Thebankisincreasinglyhelpingitsmembersembracethedigitalera.Lastyear,AIIBlaunchedInfraTechPortal,adigitalplatformthatsharescomprehensive,neutral,andfreeinformationoninfrastructuretechnologies.
Jinemphasizedthegrowingimportanceofdigitaltransformationininfrastructuredevelopment."Artificialintelligenceholdsvastpotentialandoffersdevelopingcountriesanopportunitytoleapaheadintheirdevelopment,”hesaid.
LookingbackatAIIB'sfirstdecade,thebankhasachievedremarkablemilestones.AsoftheendofMay,thebankhadissuedoverUSD54billionequivalentbondsacrossmultiplecurrenciesandhasconsistentlymaintainedtriple-AcreditratingsfromMoody's,S&P,andFitch.
Asthebankentersitsseconddecadeandpreparesforaleadershiptransition,Jincalledforarenewedcommitmenttomultilateralcooperationandshareddevelopment.
ChinahasnominatedZouJiayi,aformervice-ministeroffinance,asitscandidateforthenextpresidentoftheAIIB.Thepresidentialelectionwillbeconductedthisweek.
ChinesePremierLiQiangwilldeliverthekeynoteaddressatthe16thAnnualMeetingoftheNewChampions,commonlyknownasSummerDavos,whichbeginstodayinTianjin.Liwillalsomeetwithgovernmentleadersandbusinessrepresentativesattendingthetwo-dayconferencehostedbytheWorldEconomicForum.HisappearancecomesasChinaseekstoreassureinvestorsthatChinaremainsabeaconofcalminatimeofgeopoliticalandtradetensions,andtoemphasizeitscontinuedcommitmenttoglobalcollaboration,innovation,andqualitydevelopment.About1,800attendeesfrommorethan90countriesareexpectedattheconference,includingtheleadersofEcuador,Singapore,Kyrgyzstan,Senegal,andVietnam,alongwithexecutivesfromsomeofChina'slargestcompanies.
GBAexpress
Nasdaq-listedautodrivingcompanyWeRidefiledforapubliclistinginHongKong,mediareported.InMay,theGuangzhou-basedcompanyreceivedaUSD100millioninvestmentfromUber.Thetwocompaniesplantodeployrobotaxifleetsin15newcitiesacrossEuropeandtheMiddleEastoverthenextfiveyears.HongKong'srailwayoperatorMTRsaidyesterdaythatitwouldextendthetwo-monthtrialschemethatallowspetownerstotravelwiththeircatsanddogsonlightrailtrainsonweekdaysandpublicholidaystotheendofAugust.
Industryandcompanynews
Chineseairlinesarerampingupeffortstoexpandtheirglobalnetworksasthesummervacationapproaches.StartingfromTuesday,ChinaEasternAirlinesisexpectedtoopenadirectflightfromXi'antoIstanbul.JuneyaoAironMondaylaunchedadirectflightservicebetweenShanghaiandVladivostok,whileChinaSouthernwillopenanewdirectflightroutefromGuangzhoutoAlmatyonWednesday,anewdirectflightroutefromGuangzhoutoTashkentonJune30,andanewdirectflightroutefromHarbintoVladivostokonJuly1.AsofJune16,thenumberofinboundandoutboundairticketbookingsforthefirstmonthofthesummertravelseasonexceeded3.8million,upabout8percentyear-on-year,accordingtostatisticsindustryinformationproviderUmetrip.Alibaba-backedbike-sharingcompanyHellobikehasteamedupwithAntGroupandCATLtocreateanewCNY3billionrobotaxicompanyaimedatacceleratingadoptionofL4autonomousdriving,wherevehiclesoperatewithouthumanintervention.Apple’sChinawebsitejoinedthenationalelectronicssubsidyprogramtoday,offeringuptoCNY2,000discountonMaclaptopsanduptoCNY500offiPhones,iPads,andAppleWatches.ThedealislimitedtoBeijingonlineordersandAppleStoresinShanghai.ChinaPostlaunchedanewinternationalcargorouteyesterdayconnectingZhengzhouandLuxembourg,withoneweeklyflighttostartfromandplanstoincreasefrequencybasedondemand.Theroutesurpassestraditionalcross-bordere-commerce,carryinghigh-techandhigh-valuegoods,includingpharmaceuticalsandprecisionmanufacturingparts.BYD,China'sleadingEVmaker,tookdeliveryofitsfifthcar-carryingshiptomeetdemandforitsvehiclesoverseas.The220-meter-longshiphas16vehicledeckswithtotalcapacityof9,200vehicles.Itispoweredbyliquifiednaturalgasclean-propulsiontechnologythatreducesharmfulemissions.China,theworld'slargestgoldproducerandconsumer,saiditplanstoincreaseproductionofgoldandsilveratleast5percentinthenexttwoyearsandupgradethesupplychainforthetwopreciousmetals.Lastyear,Chinaproduced380,000kilogramsofgold,accordingtoCEICData.
Asia-Pacifichighlights
ChinesePremierLiQiangandvisitingSingaporeanPrimeMinisterLawrenceWongvowedonMondayduringtheirtalksinBeijingthatthetwocountrieswillenhancebilateralties,expandthird-marketcooperation,safeguardthemultilateraltradingsystem,andupholdunimpededglobalindustrialandsupplychains.LisaidthatChinastandsreadytomakefulluseofitsbilateralcooperationmechanismwithSingapore,implementtheircooperationplanforthejointconstructionoftheBeltandRoadInitiative,andexpandandstrengthenflagshipcooperationprojects.WongsaidthatSingaporelooksforwardtomaintainingclosehigh-levelexchangeandcooperationinvariousfieldswithChina,deepeningfriendshipandmutualtrust,andpromotingflagshipcooperationprojectsaswellasexploringcooperationpotentialinemergingfields.Wong’sfive-dayvisitstartingonSundaymarkshisfirstofficialvisittoChinasincehetookofficeasSingaporeanPMinMay.The9thChina-SouthAsiaExpohassecured163dealsworthoverCNY8.66billionsofar,accordingtoapressconferenceduringtheongoingeventheldinKunming,YunnanProvince,onMonday.SaudiaCargo,SaudiArabia’snationalcargoairline,announcedonMondayitsplanstosetupajointventurewithaHongKong-basedagenttoexpanditsoperationsintoChinaandtheAsia-Pacificregion.NamedSaudiaCargoGlobal,thenewventureaimstoserveasaspringboardfortheglobalcargocarriertotapintotheChinesemarketbyleveragingHongKong’spositionasacargohubinthee-commerceera.
Editor:LIYanxia
Host:StephanieLI
Writer:StephanieLI
SoundEditor:StephanieLI
GraphicDesigner:ZHENGWenjing,LIAOYuanni
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