The Davos summer forum will be held 2025 from 24 to 26 June in Tianjin, and is expected to bring about 1,800 participants from more than 90 countries and regions.
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This report from the CNBC’s China Connection newsletter, which brings you visions and analyzes about what pays the second largest economy in the world. Every week, we will explore the largest business stories in China, and make a decrease in market movements and help you prepare for the next week. Like what you see? You can subscribe here.
The big story
The United States took control of Israel, Iran, Iran, during the weekend, but this week’s screaming at the “Samar Davos” conference in Tianjin, China, was more about the future mobility in the future less intertwined with Washington.
A decade ago, goods, capital, technology and talent flowed between the so -called east and the West; Ben Simfandorver, a partner residing in Hong Kong in Oliver Waitan administrative consultations, said that it is now related to the flows between the southern global countries.
“The mood (in Tianjin) reflects the changing world order. The global south is more associated than ever.”
South Global Long refers to less sophisticated economies, especially countries outside American and European orbits. Think of Southeast Asia, Africa, Latin America and the Middle East – all regions in which China has sought this Trade development And political relations with.
“There are 130 neutral countries ready to do business through geopolitical fractures and are looking for business, and many of them are relatively international leaders … I look forward to opportunities in the global south,” said Aparna Bhardwaj, the administrative director of Global Advantage at the WEF committee.
China, whose relationship with the global south, has its first president, Lee Qiang, was urging more trade to “reshape” the world order at the WeF Forum on Wednesday.
“We can move to a world in which Asia and the Middle East appear as a new and convincing economic bloc that is somewhat integrated with Europe and the United States, but this integration fluctuates,” said Simpendovir.
Renewed interest
Since 2007, the Swiss World Economic Forum has managed a summer version of the Davos Assembly in China, alternating between the cities of Tianjin and Dalian, both in the northern part of the country.
But with the intensification of local Chinese governments on their own conferences, the general economy slowed, foreign companies interested in China were not to rely on the reconciliation of the summer Davos. The disturbances of the American -Chinese epidemic and tensions have also affected.
Despite that year, the quiet groups of the attendees otherwise turned into somewhat aggressive crowds to disrupt the spots for selected events, including talks on artificial intelligence and economic expectations.
The seats are quickly filled with the annual WeF version “Top 10 emerging technologiesThe report – Now in its third year of cooperation with the Future Dubai Foundation. Created by the Forum with Scientific America.
Some prominent leaders took the opportunity to visit China. Prime Minister in Singapore, Lawrence Wong, Prime Minister Vietnam Fam Minh Cennah, and Ecuadorian President Daniel Noboa Azn are among the leading political leaders. Attending this year.
“The shock of the American customs tariff was an invitation to wake up to the south in general about the need for diversification,” said Simfendorfer.
But he indicated that it would not be easy to shift from targeting one American market into multiple southern global markets.
To attract commercial partners, countries from Egypt to Vietnam l China all tries to enhance its economic competitiveness.
“It is a call to wake up for Chinese multinationals in the field of international businesses,” Simphenundor said, adding that learning from the past two decades will not be good evidence for the next twenty years, given the transformational impact of artificial intelligence.
The Egyptian Minister of Investment and Trade, Hassan Al -Khatib, told CNBC’s Chere Kang on the sidelines of the forum On Tuesday, the country looks forward to being in the first twenty places in commercial competitiveness by 2030, after a large reform program launched last year to stimulate the development of the private sector. The work complex in Egypt and the engineering talent stressed that the country was flirting with investors from all over the world.
With American -Chinese tensions remaining far from its solution, more countries may be keen to raise the Chinese Prime Minister to call for the reshaping of the world.
– Bernice Ooi from CNBC contributed to this report.
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Johnson Choi, head of global source services at Hong Kong Exchangs and Clearing, talks about recently renewed interest in Hong Kong as a market, as it attracts a wave of foreign investors and subscription subscriptions.
Eswar Prasad, Professor of Cornell University and former head of the China Department of the International Monetary Fund, talks about the reason for both the United States and China to pressure for “temperature” on their commercial relationship.
Joe Nagai, Chairman of the McKinsey China, believes that companies in China have shown flexibility despite external threats, including induction and geopolitical tensions in the Middle East.
You need to know
China’s financial revenue growth stalls in May. The central government Financial revenues grew by only 0.1 % in May By previous year, slowing out of 1.9 % expansion in April. Non -tax revenues decreased by 2.2 %, which is its first annual decrease since 2014, while tax revenues have witnessed a modest profit of 0.6 % from the previous year.
Chinese Prime Minister Lee Qiang urged not to convert trade into a political issue. He was speaking at The opening of the plenary session of the annual conference of the World Economic Forum In China, it is often called “Summer Davos”. The Chinese leader called on other countries to cooperate in trade and pledged to “make China a consumable force the size of Mega.”
Beijing is angry with criticism of Israel. China initially pledged to support Iran shortly after Israel’s attack on June 12. Despite this initial offer to support Iran, Beijing’s speech turned into It becomes more measured.
– Anik Bao
In the market
The shares of China and Hong Kong rose early on Wednesday amid a mixed trade in the region, where investors were weighing a ceasefire between Israel and Iran, And a new comment From the American Federal Reserve.
China’s main mainland CSI 300 It rose 0.35 %, while Hong Kong Hang Singh Fahress – Which includes major Chinese companies – gained 0.77 % from 12:20 pm local time.
The performance of the Shanghai complex during the past year.
Upcoming
From 24 to June 27: The Permanent Committee of the National Popular Congress, the Olaya in China, meets. Discuss a law in the unfair competitionAnd government spending review.
June 26: The Asia Bank for Investment Investment keeps the opening ceremony of its annual meeting yet Appointment of a new president For a period of five years starting in January; Xiaomi to detect the price of the Yu7 electric SUV
June 27: Industrial profit data in China for the month of May
June 30: The official manufacturer of manufacturing information in China for the month of June
July 1: The anniversary of the founding of the ruling Chinese Communist Party in 1921; Caixin Manufacturing PMI for the month of Jun
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