
"Shanghai Summer" Global Promotion Debuts in Bangkok, Inviting International Visitors to Experience the City's Summer Charm
SHANGHAI, CHINA - Media OutReach Newswire - 12 August 2025 - On August 9 local time in Bangkok, the opening ceremony of the Spirit of Mountains and Seas – Yuyuan Lantern Festival and the 2025 China–Thailand Cultural Month: Charming Shanghai Week, along with the launch of the "Shanghai Summer" Bangkok edition, extended a warm invitation to Thai friends to join the 2025 Shanghai Summer International Consumption Season and experience the extraordinary appeal of this world-class shopping destination.Distinguished guests in attendance included Wang Xiaoyan, Director of the Bangkok Center of the Center for Language Education and Cooperation under China's Ministry of Education; Gu Yiyi from the Shanghai Information Office; Mr. Panthep Larpkesorn, representative of Thailand's Ministry of Education; Huang Weiwei, President of Strategic Development and Cooperation, CP Group China; Yi Zhaojun, General Manager of Shanghai Design Week; Zhang Liqiang, President of the Thai–Shanghai Chamber of Commerce; Yin Shujian, General Manager of China Eastern Airlines Bangkok Office; and Xu Weixin, Partner at Yuyuan Inc. Together, they officiated the lighting ceremony of the lantern festival.The 2025 Shanghai Summer International Consumption Season is a flagship annual event, showcasing Shanghai's commitment to building itself into a leading international consumption hub. Held each year from the first weekend of July to the second weekend of October, the event welcomes global visitors with openness, diversity, immersive experiences, and a constant stream of surprises.In the first half of 2025, Shanghai recorded over 4.15 million inbound visitors, a year-on-year increase of nearly 38%. Among them, approximately 254,000 visitors were from Thailand—an impressive 140% growth compared with the previous year. From January to July, the city's total sales of tax-refunded goods reached RMB 2 billion, up 80% year-on-year. These figures vividly reflect the energy and appeal of Shanghai Summer.The 2025 Shanghai Summer will debut with 14 new themed service packages and 2 major upgrades. Leveraging the city's convenient 240-hour visa-free transit policy, the event aims to deliver tangible convenience and attractive benefits for global visitors across every aspect of travel—dining, accommodation, transportation, sightseeing, shopping, and entertainment.Seamless Travel Planning:China Eastern Airlines will release one million discounted air tickets, significantly lowering the cost of starting the journey. Through the dedicated HiChina app developed by Umetrip, visitors can enjoy one-stop services for flight check-in and train ticket booking, ensuring effortless trip planning.Smooth Arrival, Hassle-Free Mobility:The all-in-one Shanghai Pass will be the ultimate travel companion, combining metro card functionality, Yuyuan Garden admission, and "Surprise Discount Gift Bags" at shopping malls. A robust payment network supports the entire visitor experience: UnionPay is accepted at 2,000 merchants and 100,000 stores; Visa launched the "Visa Zone for Shanghai Summer," covering eight major tourist routes; SPD Bank credit cards offer dual "payment + product" rewards; Marriott Bonvoy brings exclusive perks to guests across its portfolio of 60+ hotels in Shanghai; and Bank of China provides comprehensive support for tax refund services, ensuring worry-free shopping from start to finish.Excitement Across the City:Over 300 cultural, tourism, commercial, sports, and exhibition events will ignite the summer spirit. Highlights include the Shanghai Disney Resort Summer-themed Celebrations, the grand opening of Shanghai LEGOLAND, and Pop Mart's Summer of Trendy Toys event, featuring blockbuster IP launches and new product debuts.A Dazzling Night Economy:Since June, Shanghai's nighttime consumption has reached RMB 88.009 billion, up 3.3% year-on-year. The "Shanghai by Night" initiative has unveiled the first five "Nighttime Economy Landmarks" and five "Top Nightlife Destinations," further energizing the city's night economy during Shanghai Summer.With this array of spectacular experiences, inbound visitors—including those from Thailand—are sure to enjoy an unforgettable summer in Shanghai, leaving with lasting and cherished memories.Hashtag: #ShanghaiSummer
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2 hours ago
- Malay Mail
Lens Technology's Strategic Insights: Navigating Innovation and Market Growth
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The Star
2 hours ago
- The Star
Vietnam wants to be next Asian tiger and it's overhauling its economy to make it happen
HANOI: Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanoi's central party school, Communist Party chief To Lam declared the arrival of "a new era of development' late last year. The speech was more than symbolic - it signaLled the launch of what could be Vietnam's most ambitious economic overhaul in decades. Vietnam aims to get rich by 2045 and become Asia's next "tiger economy' - a term used to describe the earlier ascent of countries like South Korea and Taiwan. The challenge ahead is steep: Reconciling growth with overdue reforms, an ageing population, climate risks and creaking institutions. There's added pressure from President Donald Trump over Vietnam's trade surplus with the US, a reflection of its astounding economic trajectory. In 1990, the average Vietnamese could afford about US$1,200 worth of goods and services a year, adjusted for local prices. Today, that figure has risen by more than 13 times to $16,385. Vietnam's transformation into a global manufacturing hub with shiny new highways, high-rise skylines and a booming middle class has lifted millions of its people from poverty, similar to China. But its low-cost, export-led boom is slowing and it faces a growing obstacle to its proposed reforms - expanding private industries, strengthening social protections and investing in technology and green energy - from climate change. "It's all hands on deck.... We can't waste time anymore," said Mimi Vu of the consultancy Raise Partners. Investment has soared, driven partly by US-China trade tensions, and the US is now Vietnam's biggest export market. Once-quiet suburbs have been replaced with industrial parks where trucks rumble through sprawling logistics hubs that serve global brands. Vietnam ran a $123.5 billion trade surplus with the US trade in 2024, angering Trump, who threatened a 46% U.S. import tax on Vietnamese goods. The two sides appear to have settled on a 20% levy, and twice that for goods suspected of being transshipped, or routed through Vietnam to avoid US trade restrictions. During negotiations with the Trump administration, Vietnam's focus was on its tariffs compared to those of its neighbours and competitors, said Daniel Kritenbrink, a former US ambassador to Vietnam. "As long as they're in the same zone, in the same ballpark, I think Vietnam can live with that outcome," he said. But he added that questions remain over how much Chinese content in those exports might be too much and how such goods will be taxed. Vietnam was preparing to shift its economic policies even before Trump's tariffs threatened its model of churning out low-cost exports for the world, aware of what economists call the "middle-income trap,' when economies tend to plateau without major reforms. To move beyond that, South Korea bet on electronics, Taiwan on semiconductors, and Singapore on finance, said Richard McClellan, founder of the consultancy RMAC Advisory. But Vietnam's economy today is more diverse and complex than those countries were at the time and it can't rely on just one winning sector to drive long-term growth and stay competitive as wages rise and cheap labour is no longer its main advantage. It needs to make "multiple big bets,' McClellan said. Following China's lead, Vietnam is counting on high-tech sectors like computer chips, artificial intelligence and renewable energy, providing strategic tax breaks and research support in cities like Hanoi, Ho Chi Minh City, and Danang. It's also investing heavily in infrastructure, including civilian nuclear plants and a $67 billion North-South high-speed railway, that will cut travel time from Hanoi to Ho Chi Minh City to eight hours. Vietnam also aspires to become a global financial centre. The government plans two special financial centres, in bustling Ho Chi Minh City and in the seaside resort city of Danang, with simplified rules to attract foreign investors, tax breaks, support for financial tech startups, and easier ways to settle business disputes. Underpinning all of this is institutional reform. Ministries are being merged, low-level bureaucracies have been eliminated and Vietnam's 63 provinces will be consolidated into 34 to build regional centres with deeper talent pools. Vietnam is counting on private businesses to lead its new economic push - a seismic shift from the past. In May, the Communist Party passed Resolution 68. It calls private businesses the "most important force' in the economy, pledging to break away from domination by state-owned and foreign companies. So far, large multinationals have powered Vietnam's exports, using imported materials and parts and low-cost local labour. Local companies are stuck at the low-end of supply chains, struggling to access loans and markets that favored the 700-odd state-owned giants, from colonial-era beer factories with arched windows to unfashionable state-run shops that few customers bother to enter. "The private sector remains heavily constrained," said Nguyen Khac Giang of Singapore's ISEAS-Yusof Ishak Institute. Again emulating China, Vietnam wants "national champions' to drive innovation and compete globally, not by picking winners, but by letting markets decide. The policy includes easier loans for companies investing in new technology, priority in government contracts for those meeting innovation goals, and help for firms looking to expand overseas. Even mega-projects like the North-South High-Speed Rail, once reserved for state-run giants, are now open to private bidding. By 2030, Vietnam hopes to elevate at least 20 private firms to a global scale. But Giang warned that there will be pushback from conservatives in the Communist Party and from those who benefit from state-owned firms. Even as political resistance threatens to stall reforms, climate threats require urgent action. After losing a major investor over flood risks, Bruno Jaspaert knew something had to change. His firm, DEEP C Industrial Zones, houses more than 150 factories across northern Vietnam. So it hired a consultancy to redesign flood resilience plans. Climate risk is becoming its own kind of market regulation, forcing businesses to plan better, build smarter, and adapt faster. "If the whole world will decide it's a can go very fast,' said Jaspaert. When Typhoon Yagi hit last year, causing US$1.6 billion in damage, knocking 0.15% off Vietnam's GDP and battering factories that produce nearly half the country's economic output, roads in DEEP C industrial parks stayed dry. Climate risks are no longer theoretical: If Vietnam doesn't take strong action to adapt to and reduce climate change, the country could lose 12-14.5% of its GDP each year by 2050, and up to one million people could fall into extreme poverty by 2030, according to the World Bank. Meanwhile, Vietnam is growing old before it gets rich. The country's "golden population' window - when working-age people outnumber dependents - will close by 2039 and the labour force is projected to peak just three years later. That could shrink productivity and strain social services, especially since families - and women in particular - are the default caregivers, said Teerawichitchainan Bussarawan of the Centre for Family and Population Research at the National University of Singapore. Vietnam is racing to pre-empt the fallout by expanding access to preventive healthcare so older adults remain healthier and more independent. Gradually raising the retirement age and drawing more women into the formal workforce would help offset labor gaps and promote "healthy aging,' Bussarawan said. - AP


The Star
5 hours ago
- The Star
The semiconductors costing Nvidia, AMD dearly
Semiconductors are significant as they are AI accelerators, meaning that they are useful in carrying out demanding tasks and computation. — Pixabay BEIJING: US semiconductor giants Nvidia and Advanced Micro Devices will pay the United States government 15% of their revenue from selling artificial intelligence chips to China, according to media reports. Here is what you need to know about the chips and their role in the US-China tech war: Why are these chips so important? The chips in question, according to the reports, are Nvidia's "H20" chip and the "MI308" from Advanced Micro Devices (AMD). The California-based companies developed these chips – less powerful than their flagship models – specifically for the Chinese market. They are significant as they are AI "accelerators", meaning that they are useful in carrying out demanding tasks and computation, said Dylan Loh, an assistant professor at Singapore's Nanyang Technological University. "This is obviously a key tool to expand the AI-hungry demands of countries and companies building out their AI tools," Loh told AFP. Previously, the United States had been restricting the export of such chips on national security grounds. The two chipmakers had warned in April of big financial losses connected to these earlier constraints. Nvidia expected the previous rules to cost it US$5.5bil (RM 23.28bil) , while AMD forecast it could sap as much as US$800mil (RM3.4bil) from the company's bottom line. Why are sales to China controversial? Nvidia and other US chip companies have lobbied against the tough restrictions in recent years on selling cutting-edge semiconductors to China. That pressure appeared to have paid off last month, when Nvidia said Washington had pledged to let the company sell the H20 chips to China. The policy reversal has "raised eyebrows", Loh said. "These chips and many other chips have a dual use nature which means it can be used to advance their military capabilities in various ways," he told AFP. This includes the possible use of these chips potentially by US forces in the event of a confrontation, Chong Ja Ian, an associate professor at the National University of Singapore, told AFP. Defending the policy change last month, US President Donald Trump's AI point person David Sacks told CNBC the H20 was a "deprecated chip" that is "not anywhere close to the state of the art". He said the reversal on the H20 came because Nvidia's Chinese rival Huawei was making "huge strides" and could potentially threaten Nvidia's market dominance. Sunday's reported deal is "unprecedented" though, Chong said. "They do suggest the cost of market access in an environment of more intense major power competition," he added. There could still be obstacles ahead for the chipmakers. US lawmakers have proposed plans to require Nvidia and other manufacturers of advanced AI chips to include built-in location tracking capabilities. Last Thursday, Trump demanded that the new boss of US chip maker Intel resign "immediately", after a Republican senator raised national security concerns over his links to firms in China. What does China say? China has meanwhile sought to increase its self-reliance in the field of semiconductors. Nvidia is facing growing distrust in China, with state media on last Sunday labelling the H20 chips as unsafe. "The US government's decision to allow Nvidia to export the H20 to China inevitably raises some troubling concerns," said Yuyuan Tantian, an outlet affiliated with state broadcaster CCTV. It is not a secure chip for China, not advanced, and not environmentally friendly, it added in an article on social media platform WeChat. Beijing's top Internet regulator summoned Nvidia representatives in July to discuss "serious security issues" involving the H20. The Cyberspace Administration of China said it had asked Nvidia to "explain the security risks of vulnerabilities and backdoors in its H20 chips sold to China and submit relevant supporting materials". The statement noted that, according to US experts, location tracking and remote shutdown technologies for Nvidia chips "are already matured". – AFP