Guangxi has made accelerating the growth of processing trade. It aims to increase the value-added of processing trade by encouraging the diversification of assembly processing into R&D, design as well as upstream and downstream sectors. As Guangxi’s processing trade trends towards mid- to high-end, some of the labour-intensive processes have started to move out and industry chains are being formed with neighbouring ASEAN countries. More
Guangxi has a strategic role to play in both the Belt and the Road. The region’s development strategy includes forging closer collaboration with Hong Kong’s professional services under CEPA, and encouraging Hong Kong and foreign enterprises to participate in Guangxi’s construction projects in relation to the BRI, including the China-ASEAN information port as well as transport and logistics facilities serving ASEAN countries. More
In line with the Belt and Road Initiative, trade cooperation between Malaysia and China has been strengthened by the countries jointly establishing two industrial parks – one in Kuantan in Malaysia, the other in Qinzhou in the Chinese region of Guangxi. These industrial parks are intended to enhance the regional supply chain management and optimise the flow of trade and investment which runs between Malaysia and China. More
The Chinese economy grew by 9.3% in 2011 and slowed to 7.7% in both 2012 and 2013. In 2014 and 2015, GDP grew by 7.3% and 6.9% respectively. Per capita GDP reached RMB49,351 in 2015. In the four quarters of 2016, GDP grew by 6.7% in the first three quarters and 6.8% in the last quarter, resulting in an average growth of 6.7% for 2016. In the first quarter of 2017, GDP grew by 6.9%. More
Vietnam’s economy rose only 5.1% YOY in Q1 2017 amid a decline in mining and slower growth in agriculture and manufacturing. Consumer price inflation in Vietnam edged up by 4.7% YOY in March 2017, with healthcare and medicine prices rising the most. More
The Turkish economy is estimated to have expanded by 3.3% last year, thanks mainly to the strong domestic demand in the light of soft oil prices, an accommodative monetary policy and rising minimum wages. Looking forward, on the back of relatively resilient export performance due to a weak lira and a continued revival of the European economy, the Turkish economy is expected to remain vibrant.
The Russian economy, dragged by soft oil and commodity prices, a tumbling ruble as well as big interest rate hikes, has remained in a dire situation. Weak domestic consumption following the sharp currency depreciation and sliding investment, aggravated by the continued economic damage from the Kremlin’s standoff with the West over Ukraine and the intensification of sanctions and countersanctions, has been a major culprit of the setback. More