China in the world today

SINGAPORE - Senior Minister Tharman Shanmugaratnam gave his take on several issues during a virtual dialogue at the Singapore Tech Forum on Thursday (Nov 19). The forum, a global industry and networking even in its third year running, is organised by the Singapore Global Network - a division of the Economic Development Board - and the Government Technology Agency (GovTech). Economic reconfiguration and China Contrary to what some might think, globalisation is not on the decline. Instead, what the global economy is seeing is a reconfiguration as a result of China's evolution, said Mr Tharman. He noted that the biggest trend was the evolution of the Chinese economy. “It is getting larger. (China is) having a much larger middle class consuming a lot more. (They) are having much more capabilities domestically, able to produce within China what was previously imported, and that might give the impression of some waning of globalisation. "But actually, it's the same story - it's ... » Learn More about Resilient hubs key for companies seeking stability amidst Covid-19: SM Tharman

Shares in tech giant Alibaba climbed more than six percent Monday as the ecommerce titan reassured investors that a record $2.78 billion antitrust fine imposed by China would have little impact on its operations. However, concerns that officials had not finished with a crackdown on the sector weighed on big-name firms including Tencent and JD.com. Ant Group, whose planned record-shattering $35 billion Hong Kong-Shanghai IPO was shelved late last year amid the Chinese crackdown on Big Tech, separately announced a restructuring plan but vowed to "ensure business continuity". Regulators slapped Alibaba with the penalty on Saturday after a months-long probe concluded it had been abusing its dominant market position. But in a conference call to investors on Monday, Alibaba's board suggested the fine marked the end of the investigation, with chairman Daniel Zhang saying the penalty  would not have a "negative impact" on business operations. The government has cracked down on major ... » Learn More about Alibaba shares soar as it plays down hit from record $2.78 billion fine

SINGAPORE - Trade associations and chambers (TACs) here can do more to help companies tap opportunities that arise from digitalisation and improve their capabilities, said Trade and Industry Minister Chan Chun Sing on Friday (Feb 12). They play a critical role in the national effort to introduce firms, especially small and medium-sized enterprises, to new technologies, and to help them adopt these, he added. He was speaking at the opening ceremony of the Singapore Chinese Chamber of Commerce and Industry's (SCCCI) live streaming studio at the Trade Association Hub in Jurong, on the first day of the Chinese New Year. The studio is an example of what TACs can do on this front, to help companies navigate challenges arising from the Covid-19 pandemic , added Mr Chan. SCCCI president Roland Ng said the studio expects to support live streaming for up to 50 activities in its first year, including trade associations' annual general meetings, product launch events and international ... » Learn More about Singapore trade associations play critical role in helping firms tap opportunities from digitalisation: Chan Chun Sing

Steep inclines and sharp turns have become a thing of the past for motorists on Indonesia's Sumatra island after the first highway there opened last September. Travelling 360km on a completed stretch of the highway - between the busy Bakauheni seaport in the southernmost province of Lampung and Palembang city - took 10 hours, or six hours shorter than on normal roads. "Our rides are smoother now. We no longer have to experience sharp turns, and go up and down steep slopes," Mr Andika, who goes by one name, told The Straits Times. The 45-year-old owns a fleet of trucks transporting industrial equipment between the two locations. Mr Andika said the cost of operating and maintaining his vehicles has dropped by 30 per cent as he does not have to replace worn-out tyres and spare parts as often. The highway, known as the Trans-Sumatra Toll Road, is one of President Joko Widodo's key projects to overhaul critical transport infrastructure in the country. Costing 476 trillion rupiah ... » Learn More about Indonesia: Govt won’t let Covid-19 derail much-needed projects

SINGAPORE - Hand sanitiser vending machines said to be the first of their kind in the world went into action across Singapore on Monday (April 12). Every household in the Republic is allowed to collect 500ml of zero-alcohol cleanser for free. Retiree Liong Lai Fong, 79, visited Block 565, Choa Chu Kang Street 52 to pick hers up. She said in Mandarin: "I came to collect the hand sanitiser today because it was written on the utilities bill." The Temasek Foundation initiative - the second of its kind - uses machines that mix sanitiser concentrate with clean water and dispense the ready-to-use product into reusuable bottles. The vending machines were designed by the foundation, which said that they were the first in the world to automate the entire process. A spokesman told ST that the zero-alcohol sanitiser being distributed had a new formulation with a higher concentration of benzalkonium chloride, which is recognised by the National Environment Agency as being effective ... » Learn More about Singapore-designed hand sanitiser vending machines in operation across the island