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China's new economic frontiers

China's new economic frontiers

Suez Canal on rails? How this Chinese city wants to revolutionise global trade
The metropolis is already a rail-powered gateway to foreign markets – now, it wants to go one step further.
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Imported workers ‘lifeline' for struggling Hong Kong restaurants: trade chiefs
Imported workers ‘lifeline' for struggling Hong Kong restaurants: trade chiefs

South China Morning Post

time2 hours ago

  • South China Morning Post

Imported workers ‘lifeline' for struggling Hong Kong restaurants: trade chiefs

Restaurant industry leaders have defended Hong Kong's labour importation scheme as a crucial 'lifeline' for their struggling sector, arguing that it injects much-needed new blood and improves service standards rather than taking jobs from local workers. They also dismissed accusations that operators were using the scheme to hire cheap labour, insisting the total cost of employing an imported worker, including accommodation and medical expenses, was higher than for a local employee. Their backing on Wednesday followed a wave of restaurant closures and concern over rising unemployment in the catering industry, which has been hit hard by a shift in consumer habits and a persistent manpower crunch since the pandemic. 'If we had been able to import labour sooner, I believe the recent wave of closures could have been avoided,' legislator Tommy Cheung Yu-yan, who represents the catering sector, said at a briefing. He argued that sufficient manpower was key to improving service and food quality, which had fallen behind competitors in the Greater Bay Area. The city's supplementary labour scheme was expanded last year to cover 26 roles, including waiters and junior chefs, in a bid to ease chronic staff shortages.

‘Rebalancing' needed in China-Europe relationship, chamber president says
‘Rebalancing' needed in China-Europe relationship, chamber president says

South China Morning Post

time3 hours ago

  • South China Morning Post

‘Rebalancing' needed in China-Europe relationship, chamber president says

This year marks half a century of formal diplomatic relations between China and the European Union, as well as the 25th anniversary of the founding of the European Union Chamber of Commerce in China. In this entry of our series examining ties between the two powers, Ji Siqi speaks to the chamber's president about business sentiment in a tense period for global trade. Advertisement The president of the European Union Chamber of Commerce in China – the chief non-profit organisation advocating on behalf of the continent's businesses – has said the relationship between Beijing and Brussels has reached a tipping point, encouraging the two to realign their collaborative model and distribute benefits in a more equitable manner. Jens Eskelund said there is a strong perception among the European population that China is taking most of the spoils from bilateral trade, as the EU's manufacturing sector struggles to compete with a glut of cheaper goods. 'When we look back at the past 50 years of the bilateral relationship, it has created enormous value for both sides,' Eskelund told the Post on the eve of the chamber's 25th anniversary. 'Chinese exports have created jobs and wealth in China, and given the average European higher purchasing power. 'Now the question is, if we are in a situation where very intense pressure from China leads to losses for European companies … then, of course it becomes, 'Hang on, why are we doing this?'' Advertisement The relationship between China and the EU has been fraught in recent years, despite continuous dialogue as both sides seek to avoid the sort of full-blown trade war being waged by US President Donald Trump.

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