country – भारतीय महासागर समाचार

Consultancy expert: China’s economy to have steady recovery

China’s economy showed signs of stabilization at the beginning of the year, laying the foundation for a steady recovery throughout the year, said Ben Simpfendorfer, a partner at consultancy Oliver Wyman.

“I think the economy is stabilizing,” Simpfendorfer said in an exclusive interview with China Daily. “The foundations are there for recovery.” While China’s growth target of around 5 percent for this year seems challenging, Simpfendorfer said he believes the goal is “still achievable if the real estate sector begins to stabilize”.

Dismissing the speculation that China’s economy is showing signs of peaking, he said the “long-term growth prospects still look very good”.

“China hasn’t peaked. It’s evolving,” he added. “The country will remain a global manufacturing hub and a global innovation hub. China matters for the global business and the global economy. There isn’t another China out there at this point.”

German firms grow with China

As China’s economy continues to develop and more favorable policies are introduced, many German enterprises are keenly interested in its market advantages and improving business environment. They vow to invest more in China and grow together with the country.

According to the business confidence survey for 2023 and 2024 by the German Chamber of Commerce in China, about 78 percent of German companies expect growth to be consistent in China in the next five years, while 54 percent plan to increase investments in the country.

The Beijing China-Germany Industrial Park, the first national-level park that focuses on Sino-German economic and technological cooperation, has more than 100 German companies, including Fortune 500 firms as well as hidden champion companies.

Join us together with our British host Alexander Long as we explore the industrial park.

Chinese Commerce Minister calls for Netherlands to maintain regular lithography machine trade for healthy development of bilateral trade ties

A chip manufacture machine Photo: VCG

The Chinese side considers the Netherlands a reliable trade partner and hopes the Netherlands can uphold the spirit of contract to support companies fulfill contract obligations to ensure the regular trade of lithography machines, Chinese Commerce Minister Wang Wentao said while meeting visiting Dutch Trade Minister Geoffrey van Leeuwen in Beijing on Wednesday.

The Chinese side commends the Netherlands for being committed to free trade, Wang said, calling for the two sides to jointly safeguard stability of global semiconductor industrial and supply chains to prevent the abuse of security concept and boost the healthy development of bilateral economic and trade ties, according to a press statement on the website of the Ministry of Commerce.

Van Leeuwen said trade is a major contributor to the economy of the Netherlands, and the country is committed to free trade and attaches great importance to China-Dutch economic and trade cooperation.

China is one of the most important trade partners of the Netherlands and the country is willing to continue to be a reliable partner for China, van Leeuwen said.

The Dutch official said that its export control measures do not target any country. The Dutch government made the decision on the basis of independent evaluations and seeks to reduce impact on the global semiconductor industrial and supply chains at its most, with the prerequisite of safety.

Van Leeuwen said he expects that the two countries will further cooperate in fields including green transition and care services.

The Dutch government in 2023 introduced a licensing requirement for ASML’s shipments of its most advanced deep ultraviolet lithography machines.

On January 2, ASML said that the Dutch government had partially revoked an export license for the shipment of some chipmaking equipment to China, according to a press release sent to the Global Times.

Exports of NXT:2050i and NXT:2100i lithography systems in 2023 were affected, the company said.

Global Times