Cybersecurity News in Asia

HONG KONG, June 27, 2022 /PRNewswire/ — Samsung Asset Management (Hong Kong) Limited (“SAMHK”) announced the launch of Samsung Asia Pacific ex NZ Metaverse Theme ETF (stock code: 3172.HK), the first APAC Metaverse theme active ETF in Hong Kong*. The listing date will be on 7 July 2022 (Thursday), on the Stock Exchange of Hong Kong (“SEHK”). The ETF sets the listing price at HKD15, board lot size of 50 units, price per lot is at around HKD750.

Metaverse enhances the Internet experience; simply refers to a virtual space created with the new internet using 3D technologies to imitate, simulate or enhance physical reality by technologies, i.e. virtual reality, blockchain and augmented reality technologies. It also enables synchronous interactions with extensive volume of digital data transactions and information sharing, thus facilitating increased interconnectedness between physical and digital activities. The Metaverse market may reach USD783.3 Billion in 2024 with a CAGR of 13.1% since 2020**. Enterprises in China, Korea and Japan spearhead the adoption of Metaverse as part of their business development, thus a huge potential on the growth of Metaverse business in Asia Pacific region. As Metaverse business is in a vast and rapid developing stage, 3172.HK as an actively managed portfolio can grasp the investment opportunity in a “time to market” manner.

Carmen Cheung, Head of ETF and Passive Investment said “Metaverse is a disruptive technology revolutionize on how we interact on the internet, enhancing our experience on lifestyle, work, education, socialise, virtual travel to a location and even buy/sell real estate etc., through three-dimensional avatars that can be controlled by a VR related device. 3172.HK ETF bring investors a diversified portfolio to invest Metaverse related business across Asia Pacific (ex NZ) Equities.

_{*Source: Bloomberg, as of 16 June 2022}

_{**Source: Gartner, as of 28 January 2022}

ETF Information:

Samsung Asset Management (Hong Kong) Limited is principally engaged in asset management and securities investment advisory services in Hong Kong. It holds licenses from the SFC to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities.

Joint solution is available now to enable powerful, efficient and safe automotive ECUs  

TEL AVIV, Israel, June 27, 2022 /PRNewswire/ — Hailo, the leading edge Artificial Intelligence (AI) chipmaker, today announced its collaboration with Renesas, a premier supplier of advanced semiconductor solutions, to deliver a powerful and energy-efficient processing solution enabling advanced driver-assistance (ADAS) functions and automated driving (AD) systems in motor vehicles. The joint Hailo-Renesas solution will make sophisticated ADAS technology more accessible in cars of all types.

The joint Hailo-Renesas solution will make sophisticated ADAS technology more accessible in cars of all types.

The combination of Hailo-8 processors, designed for heavy Neural Network (NN) acceleration, with the powerful Renesas R-Car V3H & R-Car V4H systems-on-chip (SoCs), powers robust, scalable, efficient, and cost-effective ADAS solutions for zonal and centralized vehicular ECUs. The solutions are scalable for a wide range of ADAS functions from ADAS L2+ up to L4 AD functions requiring very high tera-operations per second (TOPS), while delivering best-in-class TOPS/W.

“ADAS and AD features have proven to be instrumental in minimizing accidents and saving lives. However, technological challenges have caused great difficulties for automakers looking to make such advanced functions accessible in anything but higher-end vehicles,” said Orr Danon, CEO and Co-Founder of Hailo. “Together with Renesas, we are offering a solution helping democratize ADAS, so its benefits can be enjoyed by more and more drivers. AI will play a major role in making our roads safer, and with industry leaders like Renesas helping us innovate, we will make driving both safer and more affordable.”  

“Automotive OEMs are looking for scalable solutions for ADAS and AD to streamline software development,” said Yusuke Kawasaki, Director, Automotive Digital Products Marketing Division at Renesas. “We are confident that our collaboration with Hailo, which has expertise in AI technology, will enable our customers to easily extend the performance of the R-Car so that they can flexibly and quickly incorporate ADAS/AD functionality in various classes of vehicles.”

Key features for the joint Hailo-Renesas solution include:

• Independent scalability in AI & compute, allowing flexibility and cost-effectiveness for Level 2+ to Level 4 ADAS designs
• The highest performing solution available today in the automotive market, ranging from 60 TOPS to over 170 TOPS for multi-sensor perception and fusion
• Best-in-class power efficiency, enabling ECUs to be passively cooled, which reduces the BOM and system cost
• Functional safety for the ADAS/AD ECU with Renesas R-Car (R-Car V4H is expected to achieve ASIL-B and D metrics for the real-time domain) and Hailo (Hailo-8 supports ASIL B)        
• An open software ecosystem allowing OEMs/Tier-1s more control & possibility for innovation

A single Hailo-8™ delivers unprecedented performance to edge devices. Featuring up to 26 TOPS at a typical power consumption of 2.5 W, the chip is built with an innovative architecture that enables edge devices to run sophisticated Deep Learning applications that could previously only run on the cloud. Hailo-8’s advanced structure translates into higher performance, lower power, and minimal latency, enabling enhanced privacy and better reliability for smart devices operating at the edge.

Hailo continues to make significant strides in the automotive industry, partnering with industry leaders to create high-performance, scalable AI solutions for automotive Electronic Control Units (ECUs), enabling power-efficient AI acceleration with low energy consumption to advance automotive innovation.

The joint Hailo-Renesas solution is available for customer evaluations and demonstrations. It will be showcased live at Automobil Elektronik Kongress in Ludwigsburg (Germany) on June 28-29.

About Hailo

Hailo, an AI-focused, Israel-based chipmaker, has developed a specialized AI processor that delivers the performance of a data center-class computer to edge devices. Hailo’s processor is the product of a rethinking of traditional computer architecture, enabling smart devices to perform sophisticated deep learning tasks such as object detection and segmentation in real-time, with minimal power consumption, size, and cost. The processor is designed to fit into a multitude of smart machines and devices, impacting a variety of sectors including automotive, Industry 4.0, smart cities, smart homes, and retail. For more information visit https://hailo.ai/

Hailo media contact:
Garrett Krivicich
Headline Media
garrett@headline.media 
+1 786 233 7684

BEIJING, June 25, 2022 /PRNewswire/ — To celebrate the 25th anniversary of Hong Kong’s return to the motherland, the TV documentary channel of China Global Television Network (CGTN) and Radio The Greater Bay at FM 102.8, both China Media Group (CMG) productions, will start broadcasting in the Hong Kong Special Administrative Region (HKSAR) on July 1, with the launch ceremony held in Beijing, China, on Friday.

The two programs will join those already on air in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), including CCTV-1, CCTV-4, CCTV-11, CCTV-13, and CGTN English TV Channel, to explore and exhibit fascinating Chinese stories.

Chief executive of Hong Kong Special Administrative Region (HKSAR) Carrie Lam and CMG president Shen Haixiong delivered speeches at the launch ceremony, joined by Le Yucheng, deputy director of National Radio and Television Administration, Wang Linggui, deputy director of the Hong Kong and Macao Affairs Office of the State Council, Lu Xinning, deputy director of the Liaison Office of the Central People’s Government in the HKSAR, and others.

Lam addressed via video and said that the “One Country, Two Systems” principle has stood the test of time, and that since reunification 25 years ago, so has Hong Kong’s integration into national development. CMG’s fast growing presence on the global stage in recent years has enabled Chinese culture and brands to go global. With CMG’s CGTN Documentary TV Channel and Radio The Greater Bay going live, it will help people in Hong Kong better relate to mainland compatriots. She hoped that CMG would enhance coverage of people’s life in Hong Kong, as well as the integrated development in a multi-faceted, multi-layered sense.

Shen said that the two programs due to broadcast on July 1 will better inform compatriots in Hong Kong about national policies and development strategy, in the hope that Hong Kong continues to join the mainland for development. For CMG, it is imperative to shine a light on Hong Kong stories to fully uncover the charm of the city by inheriting traditional Chinese culture and striving for innovation and give a stronger impetus to the steady and sustained implementation of “One country, Two systems”.

Le Yucheng praised CMG for producing and broadcasting many excellent works reflecting the major achievements of national development and Hong Kong’s reform, and CMG’s contribution to maintaining social stability. “We sincerely hope that the media on the mainland and in Hong Kong will seize the opportunity of historical development, be the recorder, witnesses to open a new chapter of Hong Kong.”

Wang Linggui said in his speech that he believed that CMG’s presence in Hong Kong will help guide the Hong Kong community to understand and implement the principle of “One country, Two systems” fully and accurately.

Lu Xinning who spoke via video stressed on CMG’s importance to news coverage and cultural dissemination in Hong Kong. Lu believed that the CMG’s work will further promote Hong Kong residents to find common emotional memories.

Chen Jianwen, Director of the Publicity Department of the Central Committee of the CPC expressed his expectation of CMG to continue to play the role of mainstream media, lead media at all levels and of all types to deepen the connectivity, to show the charm, vitality, and attractiveness of the Greater Bay Area in an all-round and multi-level way.

Also at the launch, CMG unveiled the theme song of the 25th anniversary of Hong Kong’s return to the motherland, “Heading Forward”, and introduced a Cantonese-speaking radio drama about a group of inspiring youths from the mainland and Hong Kong.

Link: https://youtu.be/YpEBcr2Fz78

BEIJING, June 24, 2022 /PRNewswire/ — A news report by China.org.cn on Hong Kong Palace Museum:

Good news: Hong Kong is welcoming its very own palace museum.

The Hong Kong Palace Museum, which is set to open to the public on July 2, is the first museum jointly established with the Palace Museum in Beijing outside the Chinese mainland.

At the opening, a total of 914 treasures from the Palace Museum will be on display, among them, 166 are first-class cultural relics classified as national treasures. The blockbuster exhibition “The Making of Masterpieces: Chinese Painting and Calligraphy from the Palace Museum” will display 35 classic works from the Jin (265-420), Tang (618-907), Song (960-1279) and Yuan (1271-1368) dynasties. This exhibition is the largest of its kind outside the Chinese mainland within the past 15 years. A range of fine Chinese ceramics from different dynasties will also be presented in Hong Kong for the first time.

Even more exciting is that the Hong Kong Palace Museum will offer exhibitions that have not been seen in the Palace Museum. For example, one of the opening exhibitions “Grand Gallop: Art and Culture of the Horse” will showcase more than 100 horse-related cultural relics from the Palace Museum and 13 renowned horse-themed artworks on loan from the Louvre Museum in France, allowing Eastern and Western civilizations to shine brightly together.

The Palace Museum has long been fascinating for people in Hong Kong. Over the years, the museum has conducted various exchanges and cooperation with the special administrative region. A host of splendid exhibitions on Qing dynasty imperial costumes, cultural relics from the Hall of Mental Cultivation in the Forbidden City, and valuable clocks and watches have been displayed in Hong Kong’s museums, each attracting a sea of visitors.

Additionally, Hong Kong was once a center for the production of palace-based TV dramas, and such dramas produced on the Chinese mainland also attracted high ratings in Hong Kong. Given the rich elements from the Palace Museum shown in these dramas, it is fair to say that the museum constitutes a common cultural symbol of the two regions.

It is based on this affection for and recognition of culture that the Hong Kong Palace Museum has been jointly established and the Palace Museum has made an exception in loaning out items from its precious collection on a long-term basis. This enables Chinese people both on the Chinese mainland and in Hong Kong to jointly share and protect the cultural treasures spanning 5,000 years of history.

This year marks the 25th anniversary of Hong Kong’s return to the motherland. Having traditionally played the role of a center for international finance, shipping and trade, Hong Kong is now endowed with a new status as a center of Sino-foreign cultural and artistic exchanges. The founding of the Hong Kong Palace Museum has enriched the region’s cultural heritage. Hong Kong, rooted as it is in Chinese traditions, will not only retain its allure as a vibrant metropolis where East meets West, but also play a bigger role in promoting in-depth dialogue over diverse values as well as exchanges and mutual learning among outstanding civilizations.

We are looking forward to the official opening of the Hong Kong Palace Museum, where everyone can savor the glamour of Eastern culture interpreted by a more glorious “Pearl of the Orient.”

China Mosaic

http://chinamosaic.china.com.cn/index.htm

Hong Kong Palace Museum: Narrating the charm of the Orient

http://www.china.org.cn/video/2022-06/24/content_78289150.htm

DHAKA and CHITTAGONG, Bangladesh, June 23, 2022 /PRNewswire/ — Interconnection Conclave 2022, a forum dedicated to Internet Service Providers (ISPs), International Internet Gateways (IIGs), and Telecommunications Companies (Telcos), was held for the first time in Bangladesh on June 6th and 7th. The event was hosted by DE-CIX India along with its exclusive distribution partner in Bangladesh – Mango Teleservices. Genie Networks was honoured to be a part of this event to share its expertise and experience in network analysis and DDoS security.

One knows how important Bangladesh is when it comes to the SAARC Region. A developing nation with tons of potential opportunities. Rising demands for digital transformation and network security have led Bangladesh to become one of the world’s fastest-growing economies in telecommunications. Followed by a series of events in India in late May, the Interconnection Conclave took place in Dhaka, attracting over 140+ participants from major service providers that occupied nearly 95% of the local market. The event not only paved a way for them to explore market-trending solutions that could benefit the operations and security of their network, but also unleashed the potential to strengthen market presence in Bangladesh for global solution providers such as Genie Networks.

As a top carrier-grade network solution provider in the APAC region, Genie Networks has accumulated over 20 years of experience serving over 650 customers worldwide, including some of the world’s largest ISPs, Telcos, and enterprises with its network analysis and DDoS protection solutions. In recent years, the company has gained notable market share in SAARC’s service provider sector, including 2 major tier-1 customers in Bangladesh, and 1 each in Pakistan and India, respectively.

At the event, Genie showcased its best-of-breed DDoS and network traffic analysis solutions, including GenieATM – the flow-based traffic analysis and DDoS detection system, and GenieAnalytics – the big data platform for end-to-end analytics including OTT service, CDN, and subscriber traffic. Other topics discussed included Genie’s patented solutions and features such as Flow Load Balancer (FLB) and Traffic Snapshot, which are some of the company’s unique selling points in the market. The high amount of interest and feedback from the crowd in response to Genie’s presentations and the intriguing Q&A sessions were clear indicators of potential rising demand for such solutions in Bangladesh.

“It’s been a pleasure having Genie Networks share their long-time market experience with carrier-grade network traffic,” said Mir Masud Kabir, Managing Director at Mango Teleservices. “Genie’s anti-DDoS features – from monitoring, detection, alerting, to mitigation, provides the answer for local service providers who are in search of a comprehensive DDoS protection solution.”

About Genie Networks

Genie Networks is a leading provider of network traffic intelligence and security solutions that help customers to better plan, manage, and protect their networks. By giving network-wide visibility into data traffic trends and instant protection against cyber threats, our solutions enable customers to optimize the performance, security, and cost of their network operations to stay ahead in the ever-changing digital landscape.

About DE-CIX India

DE-CIX India is an Internet Exchange Point (IXP) that interconnects more than 500+ members, making it the largest Internet Exchange in India. DE-CIX India is the first choice of all kinds of operators including Content Delivery Networks (CDN), Internet Access providers, Telecommunication providers, Internet Service Providers (ISP), and much more.

About Mango Teleservices

Mango Teleservices Ltd. is the first private sector International Internet Gateway (IIG) operator of Bangladesh. Mango provides IP transit service for its customers. All Internet Service providers of Bangladesh are connected to the Internet through the IIGs. Mango has a world-class network, equipment, team and international carrier partners.

BEIJING, June 23, 2022 /PRNewswire/ — A news report by haiwainet.cn: Traditional Chinese Medicine (TCM) has a history of more than 5,000 years that nurtures the Chinese view of life and health, man and nature, and man and the universe, it has since become an inseparable and important part of Chinese culture.

Recently, short videos of Traditional Chinese medicine culture draw public attention on YouTube. A group of Chinese institutions of medicine uploaded 113 short videos to explain the origin, heritage, innovation, and application of TCM on their channel Traditional Chinese Medicine Hub. In just one month, these videos gained more than 12 million impressions and 1 million views. Among them, Traditional Chinese Medicine Without Boundaries produced by Zhejiang Provincial Hospital of Traditional Chinese Medicine tells the story of the internationalization of TCM from the perspectives of TCM tutors and international students, and received 500,000 views on YouTube, The Advice of The Golden Coffer produced by Henan University of Traditional Chinese Medicine combines the culture of TCM with popular music, breaking the barriers between language and culture with melody, The Story of Artemisinin, produced by the China Academy of Chinese Medical Sciences, focuses on Nobel Prize winners Tu Youyou and her legendary discovery of artemisinin that changed the history of global malaria treatment.

Haiwainet from People’s Daily has been actively committed to telling China’s stories to international audience on popular global social networks. The manager of this campaign from Haiwainet said that in the future, Haiwainet will continue to cooperate with national authorities and relevant professional institutions, using short videos and digital means to promote the culture of TCM to a broader audience.

SINGAPORE, June 23, 2022 /PRNewswire/ — Whale, as a professional Omnichannel Digital Marketing Operation Platform established in China, has announced its participation in Seamless Asia 2022 on 22 June. Kevin Guan, the Chief Growth Officer of Whale attended this event as the panelist to discuss the topic of Unclok Omnichannel Scenes Data Black Box together with many professionals in the retail industry.

At this online panel, Kevin introduced Whale’s brand new space digital solutions, SDP, Space Data Platform, and contributed deep insights regarding the Singapore retail market. He explained the actual situation about the current data missing in the local retail market. Also, he emphasized the high value of data collection and data analysis, as well as explaining a case study to demonstrate how brand store operation is empowered by Whale SDP.

Based on offline and online capabilities, Whale SDP integrated spatial intelligence, global data analysis, global content delivery and management, online and offline consumer behavior insights, and automated marketing operations to reconstruct “field” insights for customers.

“Our participation in Seamless Asia underscores our commitment in helping brands reshape and optimize their marketing tools, and allowing brand marketing to automatically adapt to consumption and dynamic changes in the customer journey to achieve improved marketing efficiency and business growth.” said Kevin.

Whale innovates in AI, IoT and data technologies to provide data-driven, collaboration-first and easy-to-deploy omnichannel marketing solutions for brands. Whale aims to help retail brands achieve sustainable refined operation and lean growth. Now, Whale has served a wide range of industries such as F&B, beauty and skin care, fashion shoes and garments, luxury and jewellery, digital appliances, catering and tea, supermarket and convenience store, auto service and medicine and health. Whale has cooperated with more than 300 top brands in their own industries such as Unilever, Carrefour, Watsons etc,.

Welcome to gain more marketing knowledge at Seamless Asia 2022, or visit our Facebook and Twitter to learn more about Whale’s digital solutions for brands and start growing with us!

BEIJING, June 23, 2022 /PRNewswire/ — A news report from chinadaily.com.cn：

The Beijing Daxing International Airport Economic Zone (BDIAEZ) launched an innovation competition to explore cities of the future as it aspires to become a world-class “aerotropolis” — an urban area centered around an airport — over the next few decades.

The “Future City” Explorer Global Innovation Competition began on May 27 and will last until late August.

Focusing on four themes of green and low-carbon development, cultural inclusivity, new consumption and smart tech, the event is designed to collect proposals for urban development, spur innovation in policy, technology and business models, and assist resource allocation and matching, said the BDIAEZ administrative committee, the competition’s organizer.

The smart tech sector, for example, looks for cutting-edge technologies, models and proposals that improve the zone’s management and services and help build a smart city.

Young scholars, students and research institutes as well as tech enterprises and startups from home and abroad are welcome to pitch their ideas and projects.

Centering around Beijing Daxing International Airport, the BDIAEZ in Beijing’s Daxing district will serve as an experimental field and provide support for top contestants, advancing their projects’ industrialization and launches, the organizer said.

In addition to prizes, they will be recommended to investors and receive guidance from industry leaders and renowned academics, the organizer added.

The competition is part of events held by the BDIAEZ recently as it is calling for plans and designs for the development of the International C&E and Consumption Hub. The project is aimed at promoting convention and exhibition businesses, as well as spurring consumption.

The BDIAEZ’s core area covers about 150 square kilometers, comprising 50 sq km in Beijing and the rest in the city’s neighboring Hebei province. The International C&E and Consumption Hub will be positioned at the eastern area of the Beijing section.

The State Council approved the establishment of the economic zone in 2016, with the strategic goals of developing it into a function-carrier area for international exchange, a leading area for national aviation technology, and a demonstration area for the coordinated development of Beijing, Tianjin and Hebei province, according to the administrative committee.

By taking advantage of the airport and preferential policies of functional zones, the BDIAEZ is building a center where global resources are gathered as well as a new driving force for regional economic growth.

The BDIAEZ’s comprehensive industrial pattern has taken shape, with the life and health industry as the lead, high-end services and aviation security as the foundation, as well as new-generation information technologies and advanced equipment as the reserve.

Six major industrial parks have been launched, including an innovation service center of the free trade zone, a medical equipment intelligent manufacturing park, a biomedical incubator and an international business complex.

The BDIAEZ is the only area in Beijing that adopts favorable policies of the free trade zone and Zhongguancun Science Park, a high-tech demonstration zone in the capital, while following the city’s strategies for opening up its services sector.

The BDIAEZ administrative committee now has 80 administrative rights, with 49 delegated from the Daxing district government and 31 from municipal authorities.

Marked progress has been made in creating a business-friendly environment with approval procedures streamlined and services optimized.

The BDIAEZ also provides one-on-one aid to enterprises with difficulties, while establishing an online service platform to enhance the efficiency of approvals.

The economic zone plans to sign 20 megaprojects and put six of them into production this year, according to the administrative committee.

It will continue to move forward with reforms, cultivate export-oriented industries and help ensure the airport’s smooth operation.

By 2035, a modern, smart and eco-friendly economic zone will have been built. It will play a vital role in promoting regional high-quality development, according to the zone’s development plan.

Beijing Daxing International Airport is expected to become an international aviation hub by that point, with an annual passenger throughput of up to 100 million.

The “Future City” Explorer Global Innovation Competition is now open for registration.

Please click on the following link to sign up: https://www.wenjuan.com/s/YRN32a8/

The port is also Asia’s first fully automated container terminal

QINGDAO, China, June 23, 2022 /PRNewswire/ — During the 2022 Qingdao Multinationals Summit, the press office of Shandong Provincial People’s Government invited journalists to tour the Shandong Port Group’s automated container terminal at Qingdao Port, to learn about its smart and green operation and intelligent overhead container delivery system.

As the traffic volume continues to increase, the port’s carrying capacity limitations has become a bottleneck that limits further development. It quickly became evident that deploying a 3D intelligent, green and low-carbon transportation system is the way of the future.

Shandong Port Group senior expert Zhang Liangang and Qingdao New Qianwan Container Terminal general manager Li Yongcui took turns in explaining that Qingdao Port is now one of the world’s leading automated container terminals equipped with state-of-the-art technologies, a high degree of automation and high loading and offloading efficiency. It is also the first fully automated container terminal in Asia. The port has achieved productivity of 36.2 containers per ship per hour on average, peaking at 52.76 containers per hour, a production efficiency that is 50% higher than other ports with similar automated terminals. As one of the world’s largest automated terminals, Qingdao Port can accommodate 24,000TEU container ships with an annual throughput of 5.2 million TEUs.

On June 30, 2021, the world’s first intelligent overhead container delivery system (in a pilot phase) was put into operation at the automated terminal. The system was co-developed by a team of Qingdao Port engineers working under Mr. Zhang and the R&D team at CRRC Yangtze, with the goal of integrating the leading suspension transport technologies into the port’s operations to resolve that most difficult “last mile”, so as to maximize efficiencies when it comes to delivering containers between the terminal, ships, transfer stations and stockyards, and meet the requirements for low cost, short loading/unloading cycles, greater efficiency, full automation, higher safety and zero emissions.

With a commitment to being an environmentally-friendly and low-carbon hub, Qingdao Port, the world’s first “hydrogen + 5G” smart ecological terminal, has pioneered the hydrogen-powered crane technology and system by developing a hydrogen energy-driven solution for the fueling of equipment needed for the operation of a large port. The system reduces carbon emissions by some 3.5kg and sulfur dioxide emissions by 0.11kg per TEU. Calculated on the basis of an annual capacity of 3 million TEUs, 21,000 tons of carbon dioxide and 640 tons of sulfur dioxide emissions are estimated to be cut annually.

QINGDAO, China, June 22, 2022 /PRNewswire/ — The 3rd Qingdao Multinationals Summit (QMS) opened on June 19, with 476 representatives from the world’s top 500 companies and other industry leaders discussing market trends as well as opportunities for mutually beneficial cooperation between MNCs and China. Many multinationals remain of the opinion that China is still an important destination for global investment and look forward to seizing new and rewarding opportunities for development in the country.

Dow’s commitment to and confidence in China has never wavered. Compared with other countries and regions, China boasts a broad market with ample headroom for growth, growing consumer demand, a complete industrial system and supply chain ecosystem. These unique advantages provide multinational companies, including Dow, with tremendous room for expansion.

During the summit, biopharmaceutical company AstraZeneca officially announced its expansion of investment in China, with plans to build a production and supply base and set up a regional headquarters in Qingdao. Air Products completed its first hydrogen refueling station in Shandong province last August – Zibo Huantai Demonstration Hydrogen Refueling Station, which provides hydrogen refueling services to several local bus lines and logistics fleets.

Japan’s Marubeni Corporation will collaborate with Chinese companies in green businesses such as healthcare and renewable energies. South Korea’s SK Group will cooperate with Chinese counterparts to expand its global presence in hydrogen, renewable energies and other environmental fields.

Germany’s Festo is accelerating the rollout of its roadmap for China in several niche industries including 5G, life sciences, pharmaceuticals, EVs and semiconductors with a focus on automation and digital transformation.

Tesla’s Shanghai Super Factory has become the company’s most important export base and production center, delivering more than 480,000 pure electric vehicles to drivers worldwide in 2021. The company’s Chinese operations account for half of Tesla’s global delivery volume.

Multinational companies have participated in and witnessed China’s opening up to the outside world, and have made important contributions to China’s scientific and technological innovations, industrial transformation, and economic and social development. China has just entered a new stage of development. Building a new model for economic development, actively negotiating free trade agreements (FTAs), promoting the digital economy and low-carbon growth are sure to bring new development opportunities to multinational companies.