Shanghai, China – Speaking at the World Built Environment Forum’s second Annual Summit in Shanghai next week, Dr. Zhu Min, former Deputy Managing Director of the International Monetary Fund (IMF) and President of the National Institute of Financial Research at Tsinghua University, will identify key emerging concerns in global financial markets and their implications for China’s ambitious ‘One Belt, One Road’ initiative.
In his Summit Address, Dr. Zhu Min will stress the urgency for decision-makers, businesses and investors to help ensure financial stability in a low-growth environment through investment in infrastructure as a key driver for sustainable growth in the Asia-Pacific region.
Prof. Wang Wen, Executive Dean, Chongyang Institute for Financial Studies, Renmin University of China, will also address the Summit, speaking about the geopolitical aspects of ‘One Belt, One Road’ and its implications for the built environment in particular.
The region needs to invest between USD 700 billion and USD 800 billion annually in infrastructure over the next decade. At a time of relative protectionism, ‘One Belt, One Road’ will create new opportunities for trade and investment, benefitting some 4.4 billion people, with a collective GDP of USD 2 trillion.
CBI Member RICS CEO Sean Tompkins commented “The ‘One Belt, One Road’ initiative may prove to be the most significant catalyst for trade growth in our times. The built environment sector can make a unique contribution by delivering infrastructure and real estate projects on schedule and within cost. Skills supply, professional and technical standards, together with appropriate regulation will be the critical ingredients for success”.
Dr Zhu Min leads a distinguished field of thought leaders from the Chinese government, the financial and property sectors as well as regulatory and investment bodies that will headline this year’s summit.
These include: SirDanny Alexander, Vice-president, Asian Infrastructure Investment Bank (AIIB); LiuHungchih, Senior Vice President, Strategy & Development, Greater China, AECOM and Kyle Barker, Head of International Development, WeWork.
The World Built Environment Forum is a leading platform for bringing together governments, industry and civil society stakeholders to work collaboratively and ultimately find solutions to issues affecting construction, infrastructure and real estate.
The second Annual Summit in Shanghai follows the successful inaugural Summit in Washington DC last year, at which former US Treasury secretary, Dr. Larry Summers, delivered the keynote address.
CBI member IBM and a unit of China's Dalian Wanda Group, a property and entertainment conglomerate, agreed on Sunday to team up to provide cloud services to Chinese companies, the U.S. technology provider said.
Through a newly formed venture, Wanda Cloud Company, they will offer select IBM cloud infrastructure and platform as a service (IaaS and PaaS) technologies in China, IBM said. The venture between IBM and Wanda Internet Technology Group will be "responsible for distributing, building and operating the IBM cloud platform in China", an IBM spokeswoman said.
In November, Alibaba Holdings Ltd's cloud unit announced plans to open four new data facilities outside China in a bid to grab market share from leading players Amazon.com and Microsoft.
U.S. firms Boeing and Ford are powering ahead with China expansion plans, betting big despite the country's economic slowdown. Boeing is set to break ground on its first overseas plane factory by the end of this month, and will aim to deliver 100 planes per year, with the initial batch expected in 2018, Chinese state media reported.
Auto manufacturer Ford is also growing in Asia's largest economy with plans to produce an all-new SUV in China for Chinese customers by the end of 2019, according to a company spokesperson. The new vehicle will be built in Chongqing, and will put the U.S. car company head-to-head with other foreign luxury car brands in China, such as Mercedes-Benz, owned by Daimler.
CBI member Rolls-Royce has completed the modernisation of Neutron Instrumentation Systems at two units of Ling Ao nuclear power plant in Shenzen, China, replacing an existing analog system, originally supplied by Rolls-Royce in the early 2000s, with a new digital system using Spinline® technology.
The new digital neutron instrumentation systems have been installed and commissioned on units 1 and 2 of Lingao nuclear power plant, with the most recent commissioning of the systems completed in November 2016. Rolls-Royce has designed and manufactured the systems, and provided on-site installation support to plant operator DNMC.
Jaguar Land Rover, the UK's leading manufacturer of premium luxury vehicles today reported its best ever February retail sales of 40,978 vehicles, up 9% on February 2016, thanks to strong sales performances in China and North America.
The company sold 88,671 vehicles in the first two months of 2017, 6% up on the same period in the prior year. Retail sales for the month of February were up year-on-year across many key regions: 40% in China, 16% in North America and 14% in the UK.
Europe and other Overseas markets were down 2% and 7% respectively year-on-year.