Sarawak Chinese chambers urged to stay adaptive amid changing times
Sii (fifth right), Ling (sixth right) and other members from both chambers commemorate the visit in a group photo.
KAPIT (May 8): Sarawak Chinese chambers of commerce must stay adaptable to keep up with challenging times, said Miri Chinese Chamber of Commerce and Industry (MCCCI) president Ling Chang Sheng.
He said in view of this, the MCCC will continue to enhance their competitiveness by improving service efficiency and attracting young talents.
He said this during a working visit to the Kapit Chinese Chamber of Commerce (KCCC), which was attended by 23 MCCCI members yesterday.
During the visit, they were welcomed by KCCC chairman Sii Bang Ee, and the committee members of both chambers held a dialogue session.
Ling also explained MCCCI was celebrating its 100th anniversary this year, and invited KCCC to attend the grand celebration on Sept 5.
He also called on both chambers to work together towards building a more dynamic and influential business ecosystem, by injecting new momentum into enterprises and society.
'Although Miri and Kapit are far apart physically, we have always been united in our mission to unite Chinese businessmen together.
'Through cooperation, we promote economic prosperity, safeguard the rights and interests of members, and are able to achieve mutual benefit and win-win results,' he said.
He added that only by strengthening regional economic and trade linkages, and promoting exchanges and mutual learning among enterprises will there be broader development opportunities for the Chinese community.
The delegation yesterday also visited the Song, Kanowit, Bintangor and Sarikei chambers, while on Tuesday, they visited its Mukah and Sibu counterparts.
Today, they will visit the chambers in Saratok, Betong, Sri Aman and Serian, and culminate in a final stop at the Kuching Chinese Chamber of Commerce.
Among those present were MCCCI secretary Chang Jing Ziang, treasurer Song Zhi Qiang, KCCC secretary Ling Hang Pin, MCCCI first deputy president Lu Yeu Xi and MCCCI second deputy president Ling Yuan Swee. adaptable Kapit lead Sarawak Chinese chambers of commerce
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
40 minutes ago
- The Star
U.S. stocks dip as investors weigh inflation, China-U.S. trade talks
NEW YORK, June 11 (Xinhua) -- U.S. stocks ended lower on Wednesday, as investors reacted to a softer-than-expected inflation report and weighed tentative progress in trade negotiations between the United States and China. The Dow Jones Industrial Average dipped just 1.10 points, essentially flat, to close at 42,865.77. The S&P 500 declined 16.57 points, or 0.27 percent, to 6,022.24, while the Nasdaq Composite lost 99.11 points, or 0.50 percent, ending at 19,615.88. Losses were broad but modest across sectors. Consumer discretionary and materials stocks led the declines, falling 1.02 percent and 0.98 percent, respectively. Energy stocks gained 1.49 percent, supported by higher oil prices, while utilities rose 0.05 percent. Markets showed a muted response as China and the United States concluded their trade talks in London. China and the United States have over the past two days conducted professional, rational, in-depth and candid exchanges, Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce, said Tuesday. The two sides have agreed in principle the framework for implementing the consensus between the two heads of state during their phone talks on June 5, as well as those reached at the Geneva talks, Li said. China reiterates that the United States should work with China to honor their words with actions, and demonstrate sincerity in keeping commitments and concrete efforts to implement consensus, so as to jointly safeguard the hard-won outcomes of dialogue, Chinese Vice Premier He Lifeng said. Earlier in the day, stocks had briefly rallied after the U.S. consumer price index (CPI) for May came in below expectations. Headline inflation rose just 0.1 percent from April, compared to forecasts of a 0.2 percent increase. Core CPI, which strips out volatile food and energy prices, was up 2.8 percent year over year, matching April's pace. On a monthly basis, core prices also rose 0.1 percent, down from 0.2 percent the previous month. The inflation data raised investor hopes that the Federal Reserve may cut interest rates later this year. According to the CME FedWatch Tool, the odds of a September rate cut rose to 57.2 percent, up from 53.5 percent just a day earlier. Treasury yields dropped in response, with the 10-year yield easing to 4.41 percent. "Combined with the solid May jobs report, the CPI data reduce the chances of a nasty bout of stagflation," Bank of America US economist Stephen Juneau wrote in a note to clients on Wednesday. However, American economist Claudia Sahm, speaking to Yahoo Finance, cautioned against reading too much into the latest inflation figures. "This report doesn't necessarily tell us where we're headed by the end of the year," she said, adding that the economic effects of the Trump administration's current trade policies are still unfolding. In corporate news, mega-cap tech stocks were mostly lower, with Apple and Amazon each down about 2 percent, while Nvidia, Alphabet and Meta each dropped about 1 percent. Chip giant Broadcom was up 3.38 percent, while Microsoft and Tesla rose slightly. Intel tumbled 6.46 percent to lead S&P 500 decliners, giving back most of the big gains posted on Tuesday. Shares of Advanced Micro Devices were down 1.7 percent ahead of the company's "Advancing AI" event on Thursday.
Borneo Post
an hour ago
- Borneo Post
Favorable biz environment fuels South Asian culinary ventures in China
A waiter arranges tableware in the dining room of a South-Asian food restaurant in Lanzhou, northwest China's Gansu Province on May 15, 2025. – Xinhua photo LANZHOU (June 12): Mint-green sofas, glistening crystal wall lamps, mosaic-tiled walls, and the rich aroma of spiced South Asian cuisine – every detail of Imran Ali's restaurant exudes exotic charm, which has helped it become a hit on social media in Lanzhou, capital city of northwest China's Gansu Province. Hailing from Islamabad, the 33-year-old Pakistani businessman came to China in 2012 to pursue higher education. Over the next 13 years, his culinary journey across the country deepened his appreciation for Chinese cuisine and his emotional connection with China. Upon graduation, he chose to stay and channel his passion for food into a full-fledged career in the restaurant industry. 'China's culinary landscape is incredibly diverse, while diners here are open to trying new things, especially young people who see food as a way to connect and socialise,' Ali said. 'That's why I wanted to introduce authentic South Asian flavors to more Chinese cities.' Ali and his Chinese friends opened five South-Asian food restaurants in Jiangxi and Shanxi provinces years ago, which served as a catalyst for their expansion. Encouraged by their success, he set his sights on a broader market. In October 2024, he launched a new restaurant in Lanzhou. A chef prepares a dish in the kitchen of a South-Asian food restaurant in Lanzhou, northwest China's Gansu Province on May 15, 2025. – Xinhua photo The region's multi-ethnic population and traditional preference for beef, lamb, and wheat-based dishes felt instantly familiar to Ali and gave him confidence in his venture. 'Foreign and Chinese entrepreneurs are treated equally here. The process for business registration, food service licensing, and other formalities is highly efficient and convenient,' Ali emphasised, adding that the friendly business environment made it possible for the smooth opening of his restaurant. In fact, China has been actively improving its business climate nationwide. Government departments are working to offer high-quality services to support foreign investors. Thanks to the favorable local policies, Ali secured all necessary permits including different licenses and certifications within a month. Over the past six months, the business had exceeded expectations, with daily revenue surpassing 20,000 yuan (about US$2,780). According to Ali, the restaurant attracts diverse customers, including international students from Pakistan, Iran, India, and Saudi Arabia, alongside curious young Chinese foodies drawn by its growing reputation. But for Ali, this is just the beginning. The ambitious businessman is now preparing to open another restaurant in Hainan, China's southernmost province, next month. Inspired by the potential of Hainan Free Trade Port, Ali sees the island as a gateway to global opportunities and a new base for sharing South Asian cuisine. 'My dream is to bring South Asian delicacies to people in every province of China. 'This is my way of deepening our bilateral friendship between our two countries,' Ali said, crediting China's welcoming environment and streamlined business policies that helped to turn his vision into reality. – Xinhua China culinary South Asian Xinhua
The Star
3 hours ago
- The Star
Trump says China will supply rare earths in ‘done' trade deal
President Donald Trump says the US is 'getting a total of 55% tariffs, China is getting 10%' in a social media post. - Photo: Reuters WASHINGTON: US President Donald Trump said a trade framework with China has been completed, with Beijing supplying rare earths and magnets 'UP FRONT' and the US allowing Chinese students into its colleges and universities. The United States and China will maintain tariffs at their current, lower levels following negotiations between the two nations this week in London, Trump said on Wednesday (June 11). He said the deal is subject to final approval by him and Chinese President Xi Jinping. 'OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME,' Trump posted on social media. 'WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!' A White House official said the agreement allows the US to charge a 55 per cent tariff on imported Chinese goods. This includes a 10 per cent baseline 'reciprocal' tariff, a 20 per cent tariff for fentanyl trafficking and a 25 per cent tariff reflecting pre-existing tariffs. China would charge a 10 per cent tariff on US imports, the official said. In a later post, Trump said Xi and he 'are going to work closely together to open up China to American Trade. This would be a great WIN for both countries!!!' His post suggested China may have to restart rare earth shipments before the US agrees to lower export controls on key technology. And his comments left doubt about whether Beijing could negotiate tariff rates even lower. 'FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!),' Trump said. US and Chinese officials said on June 10 they agreed on a framework to get their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade tensions. At the end of two days of intense negotiations in London, US Commerce Secretary Howard Lutnick told reporters the framework deal puts 'meat on the bones' of an agreement reached in May in Geneva to ease bilateral retaliatory tariffs that reached crushing triple-digit levels The Geneva deal faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. Trump's shifting tariff policies have roiled global markets, sparked congestion and confusion in major ports and cost companies tens of billions of dollars in lost sales and higher costs. - Reuters, Bloomberg
