2022 Overseas Town Culture and Tourism Festival

2022 Overseas Town Culture and Tourism Festival

Against the backdrop of sustained improvement in controlling the pandemic and the orderly recovery of tourism, the Overseas Chinese Town Group (OCT Group), one of China's culture and tourism organizations, launched its annual culture and tourism festival on June 24th.

A large panoramic and ecological cultural tourism festival created by OCT Group and the first such event spanning several months founded by a single organization, with a vast lineup of scheduled activities taking place in multiple locations, the OCT Culture and Tourism Festival, now in its fifth year, has become a landmark event in China's cultural and tourism market.

This year's festival will have events throughout the summer and autumn in more than 100 Chinese cities and towns on the premise of the continued effectiveness of current pandemic prevention and control measures. A total of 300+ themed events will take place throughout the festival, and more than 1,000 products will be available for sale at favorable prices.

Interest in cultural events and tourism is expected to grow during the summer period. A mix of rural, urban and patriotism-themed events as well as ones that highlight China's intangible cultural heritage have been scheduled to take place at theme parks, scenic spots, entertainment complexes, resorts and hotels operated by OCT Group. A lineup of comprehensive and customized tourism packages including food, accommodation, travel, shopping and entertainment will be on offer to meet the diversified preferences of visitors. The wide range of musical, cultural, culinary and fashion choices assures that the preferences of all visitors will be met.

Huacheng Tourism, a compressive tourism E-commerce platform owned by OCT Group, has planned to release several travel products and packages with various discounts. It will also upgrade and roll out the OCT Membership Mini-Program available on WeChat, which allows visitors to redeem points for obtaining exclusive privileges, as well as gain access to discounts on tickets to cultural events and creative peripheral products.

In a move to revive enthusiasm for travel following the outbreak of the COVID-19 pandemic in 2020, OCT Group has leveraged the festival to create new demand with innovation-driven products and services. The group has partnered with businesses and organizations across the entire tourism industry chain in a move to support the resumption of production and the return to work. OCT Group's efforts have done much to boost confidence in the sector and help in the recovery of the tourism market. More than 2,300 cultural and tourism products and 900 themed events were rolled out during the 2020 and 2021 festivals, drawing 85 million visitors.

First launched in 2018, the festivals have been crucial in maintaining the tourism sector during the worst of the pandemic as well as in reviving the sector as we move beyond it. OCT Group has been a critically important player in carrying out the social and economic responsibilities of cultural and tourism organizations by continuously strengthening the supply of quality products, creating festival events that meet the changing expectations of attendees, and generally taking actions that increase the enjoyment experienced by all visitors to the extraordinary lineup of events.

China Push for Cooperation and Globalization Partnerships

China Push for Cooperation and Globalization Partnerships

As the world deals with major changes and a pandemic unseen in a century, China has highlighted the importance of advancing globalization even as the economic integration process faces headwinds.

To forge greater synergy for development and close the development gap, the international community needs to pool cooperation resources, platforms and networks of development partnerships, Chinese President Xi Jinping said on Friday in a virtual address to the plenary session of the 25th St. Petersburg International Economic Forum.

"We have full confidence in China's economic development," Xi said. "China will continue to promote high-quality development, expand high-standard opening-up with firm resolve, and pursue high-quality Belt and Road cooperation."

More equitable, sustainable global development

Noting that the international community is keen to achieve more equitable, sustainable and secure development, Xi said it is important to seize opportunities, meet challenges head-on, and work on the implementation of the Global Development Initiative to build a shared future of peace and prosperity.

The Chinese president proposed the Global Development Initiative in his speech to the 76th Session of the United Nations General Assembly via video link in September last year. The plan charts a course for international development.

It is important that all countries strengthen the "soft connectivity" of development policies and international rules and standards, Xi told the attendees at the forum.

Attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure should be rejected, and trade barriers removed so as to keep global industrial and supply chains stable, tackle the worsening food and energy crises, and revive the world economy, he said.

It is important to follow true multilateralism, and respect and support all countries' pursuit of development paths suited to their national conditions, he said, adding that it is also important to build an open world economy and increase the representation and voice of emerging markets and developing countries in global economic governance.

He also called on countries to pursue innovation-driven development, stressing the importance of unlocking the potential of innovation-driven growth, improving the rules and institutional environment for innovation, and breaking down barriers to the flow of innovation factors.

Xi urged efforts to deepen exchanges and cooperation in innovation, facilitate deeper integration of science and technology into the economy, and make sure the fruits of innovation are shared by all.

China to continue promoting high-quality development

The Chinese president pointed out that the fundamentals of the Chinese economy – strong resiliency, enormous potential and long-term sustainability – remain unchanged.

As one of the first countries to resume work and production, the country became the only major economy to register positive growth in 2020, with its GDP surpassing 114.4 trillion yuan (about $18.1 trillion) in 2021.

A recent report released by the American Chamber of Commerce in South China has indicated that over 70 percent of the assessed companies have reinvestment plans in China for 2022, and 58 percent consider their overall return on investment in China to be higher than in other places.

China stands ready to work with Russia and all other countries to explore development prospects, share growth opportunities, and make new contributions to deepening global development cooperation and building a community with a shared future for mankind, Xi said.

Economic Aid to Africa from China

Economic Aid to Africa from China

China has established itself as a major factor in the development of Africa, with significantly increasing engagements and commitments in recent years. As such, the China-Africa collaboration, which has increased in the last few decades, has been hailed as a win-win situation for everyone.

Not long after its establishment, China began to engage with African countries. Since then, China has pledged to support and help many African representatives and governments, despite its own political and economic troubles. In exchange, China secured votes to reclaim its seat at the United Nations (held by Taiwan's government until 1971). As a result, avenues for much-needed oil and mineral resources were established, food security issues were resolved, and the country earned a strategic base in Africa.

Recently, China overtook the United States as South Africa's most important commercial partner. With this, the trade totalled an outstanding amount of US$ 16 billion, and China enjoyed a surplus of US$ 2.7 billion. South Africa, once the largest economy in Africa, exports over US$ 5.5 billion in minerals each year, materials that China desires. Then Chinese Vice President Xi Jinping concluded a spectacular three-day visit to the nation some years back.

Contrary to historical Western colonial powers, the Chinese emphasize that bilateral collaboration with China is always a win-win scenario for African governments. Beijing has been rebuked for its own "economic colonialism." The Chinese government supplies oil, gas, and raw commodities in exchange for money to undemocratic and oppressive regimes. They further invest in infrastructure development as long as Chinese corporations are utilized. On the other hand, the Western governments have some barriers that see them setting restrictions on aid to guarantee that it fulfils the population's needs. South Africa's Standard Bank has 20% of its shares owned by China's Industrial and Commercial Bank.

Africa has a big market for building transportation linkages (roads, trains, and ports) and electrical power plants. The key advantage Chinese firms have over their rivals in Brazil and Europe is "access to funding from policy banks;" enterprises like the China Railway Construction Corp, which approved a memorandum of understanding with Standard Bank to work collaboratively on funding rail and infrastructure projects in Africa. Standard Bank has further agreed to collaborate on nuclear projects in South Africa with China Guangdong Nuclear Power Corp.

Chinese efforts in Africa have sparked worry and even animosity, owing to some unfortunate circumstances in countries such as Sudan and Zimbabwe. Some of the issues include concerns about worker safety, community participation, and environmental destruction. Overall data shows that many Africans embrace China's engagement not only because of the magnitude of its resources and promises but also because of its credibility.

While access to customers and natural resources is a fundamental aim for many of China's African investments, a limited view of China's involvement risks overlooking the larger commitment. China is becoming increasingly interested in practically every African country that does not recognize Taiwan, especially the poorest. While the extractive industries continue to account for the vast bulk of China's $107 billion in bilateral commerce with African countries, China's influence extends throughout nearly every industry. Over 1,000 Chinese companies conduct business in Africa, according to the Chinese Ministry of Trade, in fields such as transportation, commerce, and agricultural product processing.

Chinese aid is typically directed towards particular initiatives rather than big programmatic models used by Foreign benefactors, like the President's Emergency Plan for AIDS Relief, a US-sponsored HIV/AIDS prevention and treatment program. The US programs have a multiyear approach, a wide plan, and consistent approaches. China's health aid, on the other hand, sometimes involves agreements to establish a clinic or hospital in a nation or region or to transfer Chinese medical staff or medications to certain countries. These actions are occasionally linked to a specific investment or a Chinese official's political commitment to a local African government. Instead, the Chinese prioritize an urgent, typically vast demand, such as dams or roads, which they usually meet fast and successfully.

China has the capacity to boost African countries' economic development efforts and lift their people out of poverty. To seize the opportunity, many scholars have advised Africans to widen the debate beyond "good against evil" and "The West vs. China." They have encouraged Africans to see the bigger picture in all this.

China Mobile Hong Kong Launches Enterprise Service

China Mobile Hong Kong Launches Enterprise Service

The market demand for smart solutions has surged in recent years, as 5G technology and its commercial applications mature, more companies are investing in smart technology to explore untapped business opportunities and maximize operational efficiency. In view of this, China Mobile Hong Kong (CMHK) announces the launch of "iSolutions", a one-stop infrastructure-based solution providing customized smart solutions backed by 5G technology support. iSolutions covers six major industry sectors and is applicable to companies from SMEs to cross-border corporations. The initiative is part of the group's mission to strengthen its corporate client business and market competitiveness as a smart solutions provider. Leveraging CMHK's unparalleled 5G network advantages and technology resources, iSolutions aims to create cross-industry synergies in making technology applications more accessible, thereby fostering the smart city development of Hong Kong, and uplift the economic prospects and quality of life in the city.

All-round 5G technology and smart solutions applicable to six major industry sectors

iSolutions integrates an array of IoT and ICT technologies including cloud, data centers, big data, AI, etc. Coupling with CMHK's 5G network covering the GBA, iSolutions offers professional consultation and customized smart solutions to companies from SMEs to cross-border corporations, based on their individual needs, or related to the pain points of their related industry.

iSolutions' services are currently applicable to six major industry sectors, including logistics and utility, real estate, IT, education and health, smart city, finance, as well as business and professional service. Application examples include:

Logistics and Utility: Utilizing smart fleet and vehicle-road coordination system to automate logistics processes, empowerd by 5G network, it can be used to control the temperature of food, chemicals, and medications in real-time through a remote platform, enabling companies to seize new business opportunities with enhanced management, as well as cost and operational efficiency.

Real Estate: Providing smart property management solutions for property companies, shopping malls, and hotels, which enable smart buildings, toilets, and carparks. These help to maximize visitor experiences and business opportunities with increased foot traffic.

IT, Education and Health: Enabling more remote features through the 5G network, one being the "Dr. HK" medical app jointly developed by CMHK and the largest digital healthcare platform in Hong Kong, Heals. Dr. HK has a medical network with multiple local clinics, and provides users with one-stop medical services, including online doctor consultations and delivery of medication in under 4 hours.

For education, iSolutions offers smart campus, AI learning platforms, and IT labs for schools, using VR to foster a creative teaching and learning environment, without the limitations of space and tools, thereby promoting the cultivation of future STEM talent.

Smart City: Aiding government departments and community organizations to enhance operational efficiency via 5G technology, thereby building a digitalized Hong Kong. For instance, 5G robots were dispatched to the Sham Shui Po community and quarantine centers to help with anti-epidemic pack distribution and disinfection, easing manpower pressures and risks of virus transmission during the pandemic.

Finance: Developing and managing the architecture of leased lines, multi-cloud service, private cloud, and cloud connections for banks, securities firms, and asset management companies; providing enterprises with comprehensive and secured cloud networks via 5G slicing technology.

Business and Professional Services: Conducting technical testing, data reconciliation and analysis for companies ranging from the retail industry to professional services such as legal counsel and accounting. Examples include using AI and big data to help retail brands uplift customers' shopping experience and provide insights into consumer habits, for better marketing and business strategies.

Achieving cross-industry synergies with extensive smart solutions experience and resources

Backed by CMHK's extensive experience in smart solutions development and advanced technology resources, iSolutions not only provides one-stop customized solutions for companies of different sizes and industries, but also aims to become a platform for resource sharing, allowing companies to exchange technology, or even cross-industry collaborations, thereby achieving a 5G synergy across industries. As more companies join the ranks of smart business, future applications are full of possibilities. CMHK will continue to work with enterprise clients to introduce more innovative solutions, and strive to promote the development of Hong Kong as a smart city."

China Mobile Hong Kong Company Limited ("CMHK") is the wholly-owned subsidiary of China Mobile Limited (HKEx: 941) (NYSE: CHL), which ranks 56th on the Fortune Global 500. CMHK was incepted in January 1997 and was the first mobile network operator to launch PCS services in Hong Kong. The Company offers innovative and comprehensive communications services, including voice, data, IDD and international roaming through 5G, 4G LTE and 3GHSPA and other technologies. The Company is committed to the development of 5G with new technologies such as artificial intelligence, internet of things, cloud computing and big data, integrating 5G applications in different industries, promoting the construction and development of smart city groups in Greater Bay Area.