China’s new commerce minister vows to relax FDI restrictions
China’s new commerce minister, Zhong Shan, has put increasing foreign direct investment (FDI) attractiveness high up on his agenda, since he was named for the post on February 24 by president Xi Jinping.
Mr Zhong declared his intentions to remove restrictions against foreign companies and expand free trade zones (FTZs) as a way to attract further FDI, at a meeting with policymakers in Beijing in late February, just before the National People’s Congress, according to a report on the People’s Republic of China (PRC) State Council website.
Reforms suggested
Specifically, Mr Zhong has argued for further supply-side reform. This includes reducing restrictions against previously banned foreign enterprises, such as healthcare and educational businesses, which are referred to as “experiments” by the PRC.
“A total of 114 innovative ways to get things done have been duplicated as a result of experiments that have taken place in the country’s four FTZs, including Shanghai and Guangdong,” said Mr Zhong in the State Council report.
Regardless of a slowing economy, China remains a hotspot for FDI. In 2016, foreign investors poured a record $139bn into the economy, up by 2.3% from a year earlier, according to figures from UN trade and development body Unctad. However, despite…
Trade
How the COVID-19 situation may affect Thailand’s export sector
Thailand’s export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six months.
The Thai National Shippers’ Council has raised a concern that the export sector might face a 200-300 billion baht toll should the COVID-19 situation not be brought under control in six months, urging the government to speed up the vaccine rollout to all segments of the population.
(more…)
Currencies
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000 tourist arrivals as of May 2021, compared with over 39 million in 2019, before the pandemic. Fewer tourists also means lower demand for the Thai baht.
The Thai baht has been hit by a sharp decline in tourism numbers due to the COVID pandemic, making the country’s currency the worst-hit in the region this year, according to Mizuho Bank.
(more…)
How the COVID-19 situation may affect Thailand’s export sector
Thailand's export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six...
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...