Latest news with #Laos-China
The Star
29-04-2025
- Business
- The Star
Seminar on renminbi internationalisation held in Laos
VIENTIANE: The Bank of China (Hong Kong) Vientiane Branch hosted a seminar on the internationalisation of the Chinese currency renminbi (RMB), focusing on new opportunities and developments in China-Laos economic and trade cooperation amid the currency's growing international use. The seminar was held on Friday (April 25) and attended by over 250 representatives from the Lao government, the financial industry and businesses from both Laos and China. Speaking at the opening ceremony, acting governor of the Lao central bank Vathana Dalaloy said bilateral trade between Laos and China has been steadily increasing, alongside the continued growth of cross-border RMB settlements. She emphasised that the Lao central bank would continue to strengthen its financial cooperation with China, particularly focusing on policy discussions, digital payments, and currency exchange, with the aim of advancing Laos-China financial ties to new heights. Also speaking at the event, Chinese Ambassador to Laos Fang Hong highlighted the positive momentum behind the internationalisation of the RMB. She noted that Laos has emerged as both a strong promoter and a key beneficiary of this trend, thanks to its strategic geographic location and growing potential for cooperation. Fang encouraged both countries to seize this historic opportunity to deepen financial collaboration and expand the use of the RMB in bilateral trade and economic activities. In his speech, Deputy Chief Executive of the Bank of China (Hong Kong) Wang Huabin stated that enhanced financial cooperation between China and Laos would further expand bilateral trade. He noted that this partnership would provide comprehensive financial support for key projects in Laos and facilitate the activities of businesses and individuals from both countries. The seminar also featured discussions by experts on the internationalisation of the RMB, China-ASEAN economic and financial cooperation, the potential for RMB use in ASEAN countries, and the development and implications of digital currencies. - Xinhua
Yahoo
28-02-2025
- Business
- Yahoo
Laos-China 500kV power link to be complete by 2026
The Laos-China 500kV interconnection project has been officially launched in the Lao capital, Vientiane. The launching ceremony saw the presence of several dignitaries, including Laos Prime Minister Sonexay Siphandone, Chinese Ambassador to Laos Fang Hong, Lao Minister of Energy and Mines Phoxay Sayasone and China Southern Power Grid (CSG) vice-president Liu Wei. The initiative is set to expand bilateral power exchanges, enhancing co-operation between the two nations. The project, to be operational by 2026, will facilitate a two-way electricity exchange capacity of 1.5 million kW, delivering 3 billion kilowatt hours (kWh) of clean electricity annually, advancing strategic energy cooperation. The Laos section of the project is being developed by Electricité du Laos Transmission (EDL-T), while CSG will manage the Chinese section. The project encompasses a new 500kV substation in Laos, a 183.5km cross-border transmission line linking Namor in Oudomxay, Laos, with Xishuangbanna in Yunnan, China, and two 230kV lines connecting the northern Laos power grid. The project will position Laos as a regional hub for clean energy interconnection in the Lancang-Mekong area. CSG has also donated power equipment and materials to EDL to enhance its operational and maintenance capabilities. Chinese Ambassador Fang Hong stressed the importance of the project, noting that the Laos-China 500-kV interconnection project marks a major step forward in practical cooperation between the two countries. She underscored the essential role of electricity in fostering economic and social progress, and regional growth. Lao Minister Phoxay Sayasone noted the project's strategic importance within Laos's Five-Year Energy and Mines Development Plan 2021-25. The interconnection project bolsters economic growth, expands grid interconnections and electricity exchanges between Laos and southern China, and supports Laos' goal of becoming a regional hub for energy connectivity in ASEAN [the Association of Southeast Asian Nations]. CSG vice-president Liu Wei emphasised that the company will leverage cutting-edge technologies, equipment and standards to enhance regional power connectivity. He highlighted CSG's dedication to advancing energy exchanges across regions and establishing a model for power collaboration. "Laos-China 500kV power link to be complete by 2026" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
The Independent
06-02-2025
- Business
- The Independent
China's Xi and Thailand's leader vow to crack down on scam networks that plague Southeast Asia
China 's leader Xi Jinping and visiting Thai Prime Minister Paetongtarn Shinawatra vowed to crack down on the scam networks that plague Southeast Asia as the two leaders met on Thursday in Beijing. Myanmar, Cambodia and Laos, which are south of China and share borders with Thailand, have became major centers of online scam operations where people lured by false advertising of well-paid jobs are trafficked to secretive compounds where they are forced to work by criminal groups that run online scams targeting people all over the world. That has impacted Thailand's reputation, as multiple high-profile stories of Chinese people being lured to work in Bangkok only to be trafficked into a scam compound in Myanmar have surfaced, with Chinese actor Wang Xing being the latest such victim. Thai and Chinese officials have taken public steps to address the scam issue, including a reported visit to the border region by Liu Zhongyi, China's vice minister of public security. 'China appreciates Thailand's strong measures to combat online gambling fraud. Both sides should continue to strengthen law enforcement, security, and judicial cooperation," Xi said, according to state broadcaster CCTV. Paetongtarn echoed that, saying 'Thailand is willing to strengthen law enforcement cooperation with China and other neighboring countries and take resolute and effective measures to combat cross-border crimes such as online gambling and fraud.' Ahead of her visit, Thailand cut off electricity to some areas in Myanmar by its border to try to disrupt the operations of the scam compounds. The effect of that is unclear as the compounds often have their own generators. The visit to China was Paetongtarn's first as prime minister and comes as the two countries celebrate 50 years of establishing diplomatic relations. On other bilateral issues, Xi said China was willing to work on a new railway project between the countries. On Tuesday, Thailand approved a $10 billion railway project that will eventually connect Bangkok to the Laos-China high speed railway. He also said they hoped to deepen cooperation in electric vehicles, with Thailand being an emerging market for Chinese automakers. China was once a significant part of Thailand's tourism segment but was down to 6.7 million visitors in 2024, less than the 11 million visitors in 2019 before the coronavirus pandemic when Chinese visitors were nearly a third of all arrivals. Paetongtarn has shown Thailand is willing to accommodate Chinese interests on key issues. In January, a group of Chinese Uyghur detainees in Thailand pleaded for help before they were deported to China. Thailand's decision to deport the Uyghurs, a largely Muslim ethnic group that faces persecution, came ahead of the two countries 50th anniversary of relations. After the meeting in beijing, Paetongtarn said that Thailand "firmly" abides by the one-China principle, Beijing's position that the island of Taiwan is part of China. ___
Associated Press
06-02-2025
- Politics
- Associated Press
China's Xi and Thailand's leader vow to crack down on scam networks that plague Southeast Asia
BANGKOK (AP) — China's leader Xi Jinping and visiting Thai Prime Minister Paetongtarn Shinawatra vowed to crack down on the scam networks that plague Southeast Asia as the two leaders met on Thursday in Beijing. Myanmar, Cambodia and Laos, which are south of China and share borders with Thailand, have became major centers of online scam operations where people lured by false advertising of well-paid jobs are trafficked to secretive compounds where they are forced to work by criminal groups that run online scams targeting people all over the world. That has impacted Thailand's reputation, as multiple high-profile stories of Chinese people being lured to work in Bangkok only to be trafficked into a scam compound in Myanmar have surfaced, with Chinese actor Wang Xing being the latest such victim. Thai and Chinese officials have taken public steps to address the scam issue, including a reported visit to the border region by Liu Zhongyi, China's vice minister of public security. 'China appreciates Thailand's strong measures to combat online gambling fraud. Both sides should continue to strengthen law enforcement, security, and judicial cooperation,' Xi said, according to state broadcaster CCTV. Paetongtarn echoed that, saying 'Thailand is willing to strengthen law enforcement cooperation with China and other neighboring countries and take resolute and effective measures to combat cross-border crimes such as online gambling and fraud.' Ahead of her visit, Thailand cut off electricity to some areas in Myanmar by its border to try to disrupt the operations of the scam compounds. The effect of that is unclear as the compounds often have their own generators. The visit to China was Paetongtarn's first as prime minister and comes as the two countries celebrate 50 years of establishing diplomatic relations. On other bilateral issues, Xi said China was willing to work on a new railway project between the countries. On Tuesday, Thailand approved a $10 billion railway project that will eventually connect Bangkok to the Laos-China high speed railway. He also said they hoped to deepen cooperation in electric vehicles, with Thailand being an emerging market for Chinese automakers. China was once a significant part of Thailand's tourism segment but was down to 6.7 million visitors in 2024, less than the 11 million visitors in 2019 before the coronavirus pandemic when Chinese visitors were nearly a third of all arrivals. Paetongtarn has shown Thailand is willing to accommodate Chinese interests on key issues. In January, a group of Chinese Uyghur detainees in Thailand pleaded for help before they were deported to China. Thailand's decision to deport the Uyghurs, a largely Muslim ethnic group that faces persecution, came ahead of the two countries 50th anniversary of relations. After the meeting in beijing, Paetongtarn said that Thailand 'firmly' abides by the one-China principle, Beijing's position that the island of Taiwan is part of China. ___
Japan Times
29-01-2025
- Business
- Japan Times
Thai high-speed rail linking Bangkok to China eyes 2030 opening
Thailand expects to complete its first high-speed rail network linking the country to China through Laos in 2030, a long-delayed project officials have touted as key to furthering bilateral relations and trade between the two nations. The construction of the first phase linking Bangkok and Nakhon Ratchasima province is currently at about 36% completed, according to Jirayu Houngsub, a government's spokesperson. The design for the second phase that will extend the rail line to the northeastern border province of Nong Khai has been finalized and is ready to be submitted to the cabinet for approval, he said on Wednesday. In all, the rail line is 609 kilometers (378 miles) long and is estimated to cost 434 billion baht ($12.9 billion). The Thai network will be connected to the Laos-China line via a bridge built over the Mekong River.
