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China to further optimize business environment, open wider to foreign investment: Xi

China should improve its investment and market environment, accelerate opening up to the outside world and lower operating costs, Chinese President Xi Jinping said Monday.
The country should "create a stable, fair, transparent and predictable business environment, and speed up efforts to build an open economy in a bid to promote the sustainable and healthy development of the Chinese economy," Xi said at a meeting of the Central Leading Group on Finance and Economic Affairs.
An important goal of building an open economy is to stimulate improvement of domestic institutions and laws for higher efficiency and greater competitive strength in the global market, said the president.
Foreign investment has played a significant role in China's economic development, promoting reasonable allocation of resources and driving market-oriented reforms, he told the meeting.
China should continue to make good use of foreign investment to advance supply-side structural reforms, upgrade the economy, and catch up with global technology development, Xi said.
He urged faster efforts to lift restrictions on foreign access to and ownership in sectors such as child care, elderly care, architectural design, accounting, auditing, commerce, logistics, e-commerce, general manufacturing and services.
The "negative list" approach on foreign investment management, which has been adopted in the country's pilot free trade zones, should be expanded to the whole nation as soon as possible, he said.

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The 148th Survey of SME Business Conditions (April-June 2017) Released

The Survey of SME Business Conditions is a quarterly survey conducted by the Organization for Small and Medium Enterprises and Regional Innovation, targeting approximately 19,000 small and medium enterprises(SMEs)across Japan in cooperation with business management advisors from commerce and industry, chambers of commerce, and researchers from the National Federation of Small Business Associations.

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Release of the White Paper on International Economy and Trade 2017

The Ministry of Economy, Trade and Industry (METI) released the 2017 version of its annual White Paper on International Economy and Trade, which was reported to the Cabinet on June 27, 2017.
In recent years, the global public has been voicing frustration over the trend of globalization against the backdrop of the widening economic gap within countries. In light of this trend, the White Paper provides the results of analyses that free trade is an engine that drives economic growth and that will contribute to filling the economic gaps, thereby reaffirming the importance of free trade.

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METI Reduces Burdens on Businesses in Terms of Administrative Procedures

In light of the report compiled by the Working Group on Administrative Procedures under the Regulatory Reform Promotion Council and the directions issued by the Prime Minister in March 2017, the Ministry of Economy, Trade and Industry (METI) compiled basic plans concerning the reduction of burdens on businesses in terms of its administrative procedures.

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Reebonz e-commerce hub launched in Singapore

This e-commerce hub will enhance Reebonz’s global outreach by significantly improving the company’s capabilities in dispatching goods to its customers, no matter where they are in the world. At 200,000 square feet, it is four times larger than Reebonz’s previous office and distribution centre. In terms of capacity, the new infrastructure can stock over 500,000 types of products, which is more than 11 times the previous capacity of 45,000. I am heartened that Reebonz is already looking ahead to its next phase of development, where it is planning to invest in robotics to further increase its productivity.

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Singapore increases energy efficiency and plans to engage new energy sources

Over the next decade, Singapore`s energy demand is expected to grow at a projected compounded annual growth rate of about 1.2 to 1.8 percent, to reach around 57,900 to 62,200 gigawatt hour (GWh) in 2027. The actual energy demand will vary depending on GDP and population growth rate.
Promoting more efficient use of energy is a key prong of Singapore`s energy strategy. It will reduce the carbon footprint and enhance Singapore’s energy security and economic competitiveness. The Government has thus adopted a mix of regulations, incentives, and capability building measures to encourage energy efficiency improvements in the industrial, building and household sectors.
The Ministry of the Environment and Water Resources (MEWR) has recently enhanced the Energy Conservation Act to strengthen energy efficiency practices among companies, and plans to implement Minimum Energy Performance Standards (MEPS) for common industrial equipment. The Minister for Finance has also announced that the Government aims to implement a carbon tax from 2019.

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Vietnam has 325 industrial parks, economic zones

As of June 2017, Viet Nam had 325 industrial parks and economic zones on an area of 94,900 ha, according to the Economic Zones Management Department, under the Ministry of Planning and Investment.
A total number of 220 industrial parks and economic zones have come into operational on an area of 60,900 ha and 105 others are ready for construction.
The nation now has 36 coastal industrial parks and non-tariff areas on an area of 16,100 ha.

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Vietnam’s industrial manufacturing index up in six months

Vietnam’s industrial manufacturing index increased by about 8.6 percent in June, the General Statistics Office (GSO) has announced.
Ha Quang Tuyen, head of the GSO’s National Account Department, said 17 out of 21 sectors recorded higher growth quarter-on-quarter, including manufacturing and processing, up 10.5 percent, contributing 7.4 percentage points to overall growth, electricity manufacturing and distribution (up 8 percent) and water supply and waste treatment (7.8 percent).

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