logo
Promotional Event of CIFTIS Successfully Held in Singapore

Promotional Event of CIFTIS Successfully Held in Singapore

Malay Mail24-04-2025

Caption: CIFTIS Overseas Delegation in Singapore
Caption: GITEX 2025 Exhibition Site
SINGAPORE - Media OutReach Newswire - 24 April 2025 - On April 23rd, a promotional event organized by a delegation from the China International Fair for Trade in Services (CIFTIS) was successfully held in Singapore, expanding new frontiers for the digital economy in Southeast Asia and promoting in-depth regional cooperation.On April 23rd, the Singapore Promotion Event of CIFTIS, the China-Southeast Asia Digital Infrastructure Cooperation Forum, and the Seminar on the Construction of an International Cooperation Ecosystem for the Digital Economy were successfully held in Singapore. During the opening ceremonies of the two meetings, Yin Liang, Deputy Director of the Beijing International Trade in Services Affairs Center, stated that the digital economy in Southeast Asia is developing rapidly. China and Singapore have achieved fruitful cooperation in the digital economy, and digital infrastructure construction is poised for an exponential growth opportunities. He expressed hope that both sides will further utilize the CIFTIS platform in the future to deepen cooperation and explore business opportunities together.The Singapore Promotion Event of CIFTIS and the China-Southeast Asia Digital Infrastructure Cooperation Forum (DITF) deeply explored how AI computing power can empower industrial transformation and how China's experience can help Southeast Asia initiate a new era of AI infrastructure construction.Yin Liang, Deputy Director of the Beijing International Trade in Services Affairs Center, said that as an important window for China's opening up to the outside world, Beijing is committed to advancing the construction of the National Comprehensive Pilot Zone for the Expansion of Opening-up in the Service Sector and the China (Beijing) Pilot Free Trade Zone, as well as improving the international service system. In his address, Huang Chao, Executive Chairman of DITC for China, stated that the digital economy in Southeast Asia is experiencing takeoff, attracting investment from the international community, including China. He emphasized that only through ecosystem co-construction and localized practice can the investment boom be transformed into genuine industrial upgrading.During the keynote session, Lin Chaoting, Vice President of Zhipu AI (a leading Chinese AI company), highlighted China's digital globalization efforts, showcasing Zhipu's AI agent products and flexible deployment solutions. She called for the creation of global joint labs and innovation hubs to advance AI industry development worldwide. Industry experts from Midea and Tencent Cloud also delivered thematic presentations.The workshop session, themed "Focusing on Ecosystem Co-construction and Localized Practice: How Investment Booms and Transnational Strategies Accelerate Southeast Asia's Industrial Restructuring," explored core topics such as the digital industry's key pillars (data centers, cloud networks), localized cloud service development, AI advancements, and collaborative digital ecosystem building. They explored how local enterprises in Southeast Asia and multinational corporations, especially Chinese companies expanding globally, can build cross-cultural market competitiveness through strategies such as ecosystem building, localization of teams, cultivation of strategic partner ecosystems, and deployment of cutting-edge technologies, thereby accelerating the development of digital infrastructure in Southeast Asia and achieving a win-win path of regional collaborative development.During the Seminar on the Construction of an International Cooperation Ecosystem for the Digital Economy, industry experts and entrepreneur representatives from China and Singapore engaged in a heated discussion on topics such as Singapore's "Smart Nation" experience and how Beijing's digital economy enterprises can expand into the Singaporean international market.At the global technology event—GITEX ASIA 2025, a delegation composed of several leading Chinese digital service trade enterprises made a collective appearance, showcasing China's innovative achievements and impressive capabilities in the digital economy.In addition to the forums and exhibitions, an international exchange event titled "Digital Luminary: Southeast Asia's Future Night" was also held, with the participation of many technology companies, including China Telecom International, Alibaba Cloud, Laihua Technology, and Zhipu AI.The successful holding and exhibition of the Singapore Promotion Event of CIFTIS and the Digital Service Trade Delegation have demonstrated China's strong strength and innovative achievements in the digital economy, providing an important platform for digital economy cooperation between China and Singapore, as well as the broader Southeast Asian region.Hashtag: #CIFTIS
The issuer is solely responsible for the content of this announcement.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US, Chinese officials exchange barbs at Shanghai event over trade
US, Chinese officials exchange barbs at Shanghai event over trade

Free Malaysia Today

time6 hours ago

  • Free Malaysia Today

US, Chinese officials exchange barbs at Shanghai event over trade

The US consul general in Shanghai said US-China economic ties have remained unbalanced and non-reciprocal for too long. (EPA Images pic) SHANGHAI : US and Chinese officials traded barbs at a celebration held by a US business chamber in Shanghai on Friday, as the chamber appealed to both countries to provide more certainty to American businesses operating in China. Scott Walker, consul general of US consulate in Shanghai, told a gathering of US businesses aimed at celebrating the 110th anniversary of the American Chamber of Commerce (AmCham) in Shanghai that the US-China economic relationship had been unbalanced and non-reciprocal 'for far too long.' 'We want an end to discriminatory actions and retaliation against US companies in China,' he said. In a speech that directly followed Walker's, Chen Jing, a Shanghai Communist Party official who is also the president of the Shanghai People's Association for Friendship with Foreign Countries, countered Walker's view. 'I believe the consul general's view is prejudiced, ungrounded and not aligning with the phone call of our heads of states last night,' he said. The interaction reflects the continued strained relationship between both countries as the trade war continues to simmer. US President Donald Trump and Chinese leader Xi Jinping spoke over a long anticipated call on Thursday, confronting weeks of brewing trade tensions and a battle over critical minerals. Trump later said they agreed to further talks. It came in the middle of a dispute between Washington and Beijing in recent weeks over 'rare earths' minerals that threatened to tear up a fragile truce in the trade war between the two biggest economies. The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration but the deal has not addressed broader concerns that strain the relationship and Trump has accused China of violating the agreement. Eric Zheng, president of AmCham Shanghai which counts over 1,000 companies among its membership, told reporters on the sidelines of the event that many companies had put their decision-making on pause due to the uncertainty. 'People are looking for some more definitive, durable statements on both sides that enable businesses to feel more secure,' he said. 'Our number one ask from the two governments is to give us some certainty so that we can plan accordingly.'

Bursa Malaysia seen trading between the 1,500 and 1,530 level this week, pending fresh catalysts
Bursa Malaysia seen trading between the 1,500 and 1,530 level this week, pending fresh catalysts

The Star

time8 hours ago

  • The Star

Bursa Malaysia seen trading between the 1,500 and 1,530 level this week, pending fresh catalysts

KUALA LUMPUR (Bernama): The FTSE Bursa Malaysia KLCI (FBM KLCI) is set to trade between 1,500 and 1,530 points from Monday (Feb 9) onwards, pending fresh market catalysts, said an analyst. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said market attention is anticipated to revolve around several important economic indicators, such as China's May consumer price index (CPI), producer price index (PPI), and its unemployment figures. Investors will also monitor the US CPI and PPI for May, and industrial output from the Eurozone for April. "Domestically, the lack of market-moving news has kept the benchmark index in consolidation, and this is expected to carry over into the coming week,' he added. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research, Mohd Sedek Jantan, said investors would also be monitoring South Korea's unemployment rate, Japan's first-quarter gross domestic product (GDP) revision, and India's CPI - all of which could influence sentiment across the region. While it remains difficult to adopt a fully constructive view at this juncture, he reckons downside risks to the FBM KLCI may be partially cushioned by undemanding valuations and continued ringgit strength. "That said, while Malaysian stocks may currently be undervalued, offering attractive entry points, a strengthening ringgit against the US dollar could increase the cost of entry for foreign investors, potentially raising the risk premium due to reduced competitiveness of export-oriented sectors,' he added. For the shortened week just ended, Bursa Malaysia was mostly lower on profit-taking, mainly due to cautious sentiment on the US-China trade talks and a lack of positive economic figures from the two countries. Bursa Malaysia Bhd and its subsidiaries were closed on Monday, June 2, 2025, in conjunction with the official birthday of His Majesty Sultan Ibrahim, King of Malaysia. On a Friday-to-Friday basis, the barometer index fell 27.03 points to 1,508.35 from 1,508.35 a week earlier. The FBM Emas Index gained 55.54 points to 11,355.34, the FBMT 100 Index added 62.69 points to 11,123.69, and the FBM Emas Shariah Index climbed 72.96 points to 11,329.22. The FBM 70 Index picked up 95.06 points to 16,296.57, but the FBM ACE Index fell 31.71 points to 4,519.32. Across sectors, the Financial Services Index narrowed 132.23 points to 17,708.31, the Industrial Products and Services Index was 1.85 points easier at 150.80, and the Energy Index gained 10.41 points to 718.45. The Plantation Index grew 45.00 points to 7,252.85, but the Healthcare Index weakened 22.81 points to 1,794.14. Turnover fell to 9.80 billion units worth RM8.18 billion from 14.80 billion units valued at RM12.78 billion in the preceding week. The Main Market volume shrank to 4.50 billion units valued at RM7.21 billion against 7.21 billion units worth RM11.50 billion. Warrant turnover declined to 4.07 billion units worth RM533.43 million versus 5.90 billion units worth RM721.75 million a week ago. The ACE Market volume weakened to 1.22 billion units valued at RM432.22 million compared with 1.66 billion units worth RM543.90 million. - Bernama

Market Wrap: KOSPI Climbs On Election Optimism, Tech Gains
Market Wrap: KOSPI Climbs On Election Optimism, Tech Gains

BusinessToday

time8 hours ago

  • BusinessToday

Market Wrap: KOSPI Climbs On Election Optimism, Tech Gains

South Korea's KOSPI index rallied this past week, buoyed by political clarity, strong foreign inflows and a resurgence in technology stocks. The index rose over 2.6%, climbing from 2,698.97 on June 2 to around 2,780 by June 6, marking one of its strongest weekly performances this year. Markets were closed on June 3 for the snap presidential election, which concluded with a decisive victory for Lee Jae-myung. Investors responded positively to expectations of market-friendly reforms and fiscal stimulus under the new administration. Tech giants led the charge as Samsung Electronics Co Ltd and SK Hynix Inc posted solid gains amid optimism over global chip demand and easing US-China tensions. Meanwhile, steel and energy counters underperformed on worries over new US tariff measures. Foreign investors returned as net buyers, reversing months of outflows driven by geopolitical uncertainty. Analysts attributed the shift to improved policy visibility and attractive valuations, with the KOSPI's forward price-to-earnings still well below regional peers. With key resistance levels near 2,800–2,820, technical strategists suggest the index could enter a consolidation phase. Eyes will be on upcoming US inflation data and Korea's fiscal announcements for further direction. Related

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store