Latest news with #CIFTIS
Yahoo
16-05-2025
- Business
- Yahoo
China's service trade fair to open in September
BEIJING, May 16, 2025 (GLOBE NEWSWIRE) -- The 2025 China International Fair for Trade in Services (CIFTIS) is scheduled to open on Sept. 10 in Beijing, with Australia invited as the guest country of honor. Starting this year, the fair will adopt a fixed schedule, opening on the second Wednesday of September every year, Zhao Qizhou, an official with the Beijing Municipal Commerce Bureau, told a press conference on Thursday. It will be held at Shougang Park, a 3-square-kilometer industrial heritage site and a previous venue of the Beijing 2022 Winter Olympics. The fair consists of sectors including finance, culture and tourism, education, sports, supply chain and healthcare services. The event will run for five days -- the first three days designated for professional visitors and the last two for public access. The Global Trade in Services Summit, co-hosted by the United Nations Conference on Trade and Development, China's Ministry of Commerce and the Beijing municipal government, will be held on Sept. 10. Since its inception in 2012, CIFTIS has brought together enterprises from around the world to share opportunities stemming from China's opening up and development of trade in services. Last year's edition attracted over 450 Fortune 500 enterprises and companies taking the lead in their respective industries, as well as participants from 85 countries and international organizations. Source: CIFTIS CONTACT: Contact person: Ms. Zhu, Tel: 86-10-63074558.
The Sun
24-04-2025
- Business
- The Sun
Promotional Event of CIFTIS Successfully Held in Singapore
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.
Malay Mail
24-04-2025
- Business
- Malay Mail
Promotional Event of CIFTIS Successfully Held in Singapore
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 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 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 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 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 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 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 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 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 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 #CIFTIS The issuer is solely responsible for the content of this announcement.
Zawya
24-04-2025
- Business
- Zawya
Promotional Event of CIFTIS Successfully Held in Singapore
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. The China International Fair for Trade in Services
Reuters
21-03-2025
- Business
- Reuters
China's Bank of Communications 2024 profit flat, warns of margin pressure
People visit the Bank of Communications' booth at the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 3, 2021. REUTERS/Florence Lo/File Photo Purchase Licensing Rights, opens new tab Summary Companies BoCom's annual profit flat BoCom VP warns of margin pressure, bad loan risks NPL ratio end-Dec flat from end-Sept BEIJING/SHANGHAI, March 21 (Reuters) - China's Bank of Communications Co Ltd (BoCom) ( opens new tab, reported a 0.9% rise in 2024 net profit, while warning of margin pressure and bad debt. Profit was 93.586 billion yuan ($12.91 billion) last year，according to a filing on Friday. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. "Net interest margins will continue to face pressure in the short term," BoCom vice president Zhou Wanfu told a press conference following the publication of the annual results. "On the asset side, factors like LPR (benchmark lending rate) cuts, adjustments to existing mortgage rates and other policy factors, combined with weak effective credit demand, have intensified industry competition," Zhou added. His remarks come as Chinese banks have grappled with weak loan demand amid a slowing economy and a protracted property crisis, which policymakers have responded to by lowering borrowing costs. BoCom is the first of the nation's five major state-owned banks to report annual results for 2024. Also of concern for the bank is the real estate business, which will continue to drag. Vice president Gu Bin said that there will be increasing bad debt among loans to property developers, while risks on retail loans have also risen. "In 2025, the external environment will be more complicated, challenging and uncertain," the bank said in the filing. The bank's net interest margin (NIM) - a key gauge of profitability - was 1.27% at the end of last year, slightly narrowed from 1.28% at the end of September. Its non-performing loan (NPL) ratio was 1.31% at the end of last year compared to 1.32% at end of September. ($1 = 7.2497 Chinese yuan renminbi) Reporting by Ziyi Tang and Engen Tham; Editing by Muralikumar Anantharaman and Kim Coghill Our Standards: The Thomson Reuters Trust Principles., opens new tab
