29.5 C
Asia
Friday, February 3, 2023
HomeEconomyBelt and Road Weekly Investor Intelligence #117

Belt and Road Weekly Investor Intelligence #117

Tuesday, January 24, 2023

Edited by Chris Devonshire-Ellis

China is busy formulating development plans for 2023 ahead of the current New Year celebrations. This week we discuss China’s mini consumption boom based on measured potential demand against Covid and analyze the points raised by China’s vice premier at the World Economic Forum. While China’s gold imports from Russia have increased significantly, the Islamic world is busy rebuilding post-Corona ties and new trade and investment plans involving China and Russia. Meanwhile, more Asian countries are considering the US dollar as an alternative to trade settlements, both mutual and cryptocurrencies. Meanwhile, while Russian traders seek a monopoly on Cuban cigars, other Belt and Road countries are also beginning to get involved in financing what was once an entirely Chinese project in the Belt and Road sector.

Click to get your free subscription to these briefings here.

China

Chinese New Year 2023 – Travel, Consumption and Post-Corona Consumer Recovery

Chinese New Year 2023 marks the first year since China lifted years of COVID-19 restrictions, meaning travel and consumption may finally return to normal levels. At the same time, as travel may pick up, COVID-19 transmission may spread, which may deter some people from leaving their homes. We look at possible travel and consumption trends during the Lunar New Year period and discuss their potential impact on the economy and business.

China to record steady FDI growth in 2022

Foreign direct investment in China in 2022 slowed compared to the previous year, but growth was still stable. Manufacturing and high-tech industries continued to attract high levels of foreign investment despite the overall economic slowdown, and some regions, such as the EU, saw significant increases in investment in China. Analyzing the latest data on her FDI in China, he discusses what 2023 has in store as China looks to grow.

Chinese Vice Premier Speech at Davos 2023: Comprehensive Investment Analysis

Davos 2023 takes place in an increasingly volatile world, with a recession imminent or expected. As the world’s largest trading nation, second-largest global economy and second-largest population, China’s geopolitical position will have a major impact on how 2018 will shape. At the Davos meeting, China’s Vice Premier Liu He made many statements about Beijing’s prospects for China and the world’s development over the next year. This article will be of great interest to academics, geopolitics and Chinese investors.

China’s gold imports from Russia to grow 67.3% in 2022

China ramped up its gold imports from Russia in 2022, according to data released last week by China’s customs ministry. Last year China bought a total of 6.6 tonnes of Russian gold. This equates to her all-time high of $386.9 million, including both raw (3.7 tons) and semi-processed (2.9 tons) shipments. In December alone, gold shipments from Russia to China totaled 220.2 kg, worth US$14.85 million. Much of that demand would have been used in the Lunar New Year related consumer goods and electronics industries.

Central Asia

Kazakhstan, UAE as export market for agricultural products

Kazakhstan is interested in exporting its agricultural products to the United Arab Emirates, Kazakh President Kassim Jomart Tokayev said. The UAE has invested around $3 billion in Kazakhstan, and Kazakhstan’s contribution to the UAE economy is estimated at around $1 billion. International trade turnover will reach $600 million by the end of 2022.

Pakistan

Pakistan Asks Russia to Develop National Railway Project with INSTC Connection

Pakistan is inviting Russia to participate in the railway project, according to Evgeny Fichuk, Assistant Minister of Transport of Russia. “We have discussed with the Pakistani side possible ways to develop regional railway lines, including the North-South Corridor, and ways to improve these.” Projects like this would improve connectivity with Iran.

middle east

World Muslim Community Council stirs uproar in the West with visit to China’s Xinjiang

The World Council of Muslim Communities has been at the center of a Western media backlash for accepting an invitation from the Chinese government to visit the Xinjiang Uighur Autonomous Region, home to millions of Chinese Uyghur Muslims. Ali Rashid Al-Nuaimi said he was “impressed” by their visit to China and said it was “important for the Islamic world to understand Xinjiang”.

Cryptocurrencies ‘play major role’ in UAE global trade – Foreign Trade Minister

UAE Minister of State for Foreign Trade Thani Al Zeyudi speaks at the World Economic Forum (WEF) annual summit in Davos, cryptocurrencies play an important role in UAE global trade declared to fulfill In particular, Al-Zeyoudi said the UAE is seeking significant crypto regulation to encourage further growth of the already thriving crypto industry.

Saudi Arabia trades in currencies other than the US dollar

Saudi Finance Minister Mohammed Al-Jadaan says Saudi Arabia is considering trading in currencies other than the US dollar, meaning a partial transition away from using the US dollar may be imminent. . Al-Jadaan’s comments come a month after Chinese President Xi Jinping said Beijing was willing to buy energy in yuan, not US dollars, in trade deals with members of the Gulf Cooperation Council (GCC). served.

Caucasus and Turkey

Georgia’s exports to grow 31.8% in 2022 on strong demand from China and Russia

Georgia will export US$5.59 billion worth of local products in 2022, up 31.8% year-on-year, according to preliminary data from the Georgia National Bureau of Statistics. Georgian exports were boosted by handling parallel imports from Europe to Russia and by improving trade connections with China via land routes through Azerbaijan and Kazakhstan. Bulgaria was the main export route to the EU market.

Turkiye Acquisition of China’s Uganda Rail Project Ushers in New Era of Alternative Belt and Road Financing

Three main problems can be inferred from this situation. The EU’s ‘global gateway’ is not really part of the billion-dollar project. Lenders in other areas are ready to step in to take on projects previously funded by him BRI.

Russia

Moscow proposes Russian trading company to Cuba

Moscow has proposed opening a Russian trading company in Havana with the participation of the Cuban state-owned company CIMEX and is waiting for a response from the Cuban authorities within the next few days.

Russia, Africa Abolish US Dollars and Euros in Trade Settlements

There are various trade bloc developments that bring various African countries closer together with Russian trade and investment. Algeria, Egypt, Nigeria and Senegal have all officially announced their participation in the BRICS group. South Africa is already a member. The Eurasian Economic Union signed an agricultural agreement with the AfCFTA in 2019, but Egypt is pursuing her EAEU free trade agreement. Both Russia and African countries have set trade targets to reach US$40 billion by 2024. Mutual use of currencies facilitates this.


about us

Shiradeyama Law Office We provide business intelligence, market research, legal, tax and compliance matters to foreign investors across Asia and have 28 offices across the region. We are a member of the Leading Edge Alliance, a network of affiliates with offices around the world. If you need assistance investigating the Belt and Road Initiative, please contact us at: silkroad@dezshira.com or, www.dezshira.comClick to register on the Belt and Road Initiative Portal. here.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments