The 2025 Summer Davos Forum will be held in Tianjin from 24 June to 26 June and is expected to bring about 1,800 participants from more than 90 countries and regions together.
China News Service | China News Service | Getty images
The report is of CNBC’s The China Connection Newsletter, which brings you insight and analysis to run the world’s second largest economy. Every week, we will explore the biggest business stories in China, will give a lowly on the market move and help you install for the next week. like what you see? You can get membership Here.
Big story
The US, which entered the Israeli-Iran struggle over the weekend, has dominated the media headlines, but this week’s Sarasting at the “Summer Davos” conference in Tianjin, China, was more about making less interacted navigating with Washington.
A decade ago, goods, capital, technology and talent flowed between the so -called east and the West; Now it is about the flow between the global South countries, the Ben Simphor, Hong Kong -based Management Consultancy Oliver Vaman said the Hong Kong -based partner.
“mood [in Tianjin] A converted world system reflects. The global South is more connected than before. ,
Global south Relaxically less developed economies, especially countries outside the US and European classes, refer to countries. Think of South East Asia, Africa, Latin America and Middle East – all regions have demanded China Grow trade And political relations with.
“There are 130 neutral countries that are ready to trade in geophysical fractures and are looking for business, and many of them are run by leaders who are relatively internationalist … I look forward to opportunities in the global south,” I was said by Aparna Bhardavaj, the managing director of the Global Advantage Practice in a WeF panel.
China, which is deepening his relations with Global South, urged his chief Lee Kiang on Wednesday to “shape” the world order at the WEF Forum.
“We can go to a world where Asia and Middle East emerge as a new and compelling economic blocks that are still integrated to a degree with Europe and the United States, but there is ups and downs in integration,” said simpiengorfer.
renewed interest
Since 2007, the Swiss-based World Economic Forum has run a summer version of its Davos Sabha in China, which is in turn between the cities of Tianjin and Dalian in the northern part of the country.
But as local Chinese governments have increased their own conferences and the overall economy has slowed down, foreign businesses interested in China have not had to rely as much on summer davos matching. The epidemic and US-China stress disruptions have also taken their tolls.
This year, however, even otherwise the calm groups of attendees turned into a slightly invasive crowd to snag the spots for selective events, including talks on Artificial Intelligence and The Economic Outlook.
Seats for the annual release of WEF are fast filled “Top 10 emerging technologies“Report – Now in its third year of cooperation with Dubai Future Foundation. Earlier, the report was Scientist built by the stage with American.
Some prominent leaders took an opportunity to visit China. Singapore Prime Minister Lawrence Wong, Prime Minister of Vietnam Fam Minh Chinh and Ecuador President Daniel Noboa Azin were among the top political leaders Participation in this year.
“The US tariff shock has been a wake-up call about the need to have a variety for the global South,” said the Simpfendaurfer cited a recent conversation with businesses in Malaysia and Vietnam.
But he said that it would not be easy to target many global south markets by targeting an American market.
Business partners to attract countries from Egypt To Vietnam China is all trying to increase its economic competition.
Simpfendorfer said, “This is a wake-up call for Chinese multinational companies to actually manufacture international businesses,” saying that after learning for the last two decades, it will not be a good guide for the next 20 years after learning for the last two decades, which is given the transformative effects of artificial intelligence.
Egyptian Investment and Trade Minister Hasan L. Khatib told CNBC’s Chera Kang on the banks of the forum On Tuesday that the country aspires to be in the top 20 in trade competition by 2030, after a major reform program launched for private sector development last year.
He emphasized the Egyptian labor pool and engineering talent, and noted how the country was connecting investors from all over the world.
As the US-China tension stays away from solving, more countries may be eager to take the Chinese premiere at their invitation to re-shape the world.
– Barnis Ooi of CNBC contributed to this report.
Top TV Pix on CNBC
Johnson Chui, head of Hong Kong exchanges and global issuing services, talks as a market recently in Hong Kong as a market, as it attracts a wave of foreign investors and IPOs.
Esower Prasad, Professor of Cornel University and former China Division of IMF, talked about why both the US and China are feeling pressure to “lower the temperature” on their trade relations.
McKins’ Chinese President Joe Nagai believes that corporates in China have shown flexibility in the Middle East despite tariff uncerties and external threats, including geopolitical stress.
Need to know
China’s fiscal revenue growth stall in May. Central government Fiscal revenue increased by just 0.1% in May A year ago, in April slow down 1.9% in detail. Non-tax revenue declined by 2.2%, its first annual decline after 2014, while tax revenue was seen as a slight profit of 0.6% from a year ago.
Chinese Premier Lee Kiang urged not to change the business in a political matter. He was speaking Inauguration of the perfection of the annual conference of the World Economic Forum In China, often “summer davos” is declared. The Chinese leader called upon other countries to cooperate in trade and “promised China to build a mega-shaped consumption power plant.”
Criticism of Beijing Tempers Israel. China initially promised to support Iran soon after the Israeli attack on 12 June. Despite the initial shows of support for Iran, Beijing has shifted to rhetoric Is more measured,
– Anic Bao
In markets
Amidst mixed trading in the region, stocks of China and Hong Kong increased in the early hours of Wednesday, as investors weighed a ceasefire between Israel and Iran, And latest comments From the American Federal Reserve.
Mainland China CSI 300 Hong Kong was above 0.35% Hang Seng Index – Which includes major Chinese companies – local time increased by 0.77% by 12:20 pm.
The performance of Shanghai Composite in the last one year.
Coming
June 24 to June 27: National People’s Congress Standing Committee, Chinese’s top legislative body, Discuss a law on unfair competitionAnd review the government’s expenses.
26 June: Asia Infrastructure Investment Bank has organized the inauguration ceremony of its annual meeting Appoint a new president For a five -year term starting from January; Xiaomi to reveal the price of your electric Yu7 SUV
June 27: China Industrial Profit Data for May
June 30: China’s official manufacturing PMI for June
1 July: Anniversary of the ruling Chinese Communist Party in 1921; Caixin Manufacturing PMI for June
