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A raft of incremental policies lit up the confidence of foreign investors

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BEIJING, Oct. 25, 2024 /PRNewswire/ — A news report from China.org.cn on a raft of incremental policies proposed by China recently:

 

Recently, China rolled out a raft of incremental policies, which caused great turbulence in the stock market. When trading began on Oct. 21st, the three major indices (Shanghai Composite Index, Shenzhen Component Index, ChiNext Index) for China’s A-share market all opened high, followed by a brief decline and seesawed growth; The BSE 50 set a record high after days of consecutive growth.

A soaring stock market implies that foreign investment is flowing back; multinational financial services companies like J.P. Morgan and Goldman Sachs also harbor positive anticipation for Chinese assets.

What has brought confidence to these foreign invested companies?

First, for companies, especially the foreign-invested ones, a fair and transparent business environment is pivotal. In the raft of incremental policies mentioned at the beginning, a primary policy in business support is regulating enterprise-related law enforcement and monitoring, and putting an end to problems such as over-taxing and irregulated fining, to increase the confidence in the market and reassure enterprises in their expectations.

Head of Endress+Hauser, a leading measurement and automation technology supplier from Switzerland, said that in recent years, it was not only them who reached out to the local government in China for support, the local government also came to them from time to time to see if they encountered difficulties in running business in China. Now, Endress+Hauser plans to continue investing 2 billion RMB in China in the following three to five years, and its two new factories are under expansion.

Secondly, China has provided foreign investors with a more open Chinese market. As China opens up its medical and health sector further, Eli Lilly and Company from the U.S. have announced its decision to invest an additional 1.5 billion RMB in China. It is also planning to introduce its innovation incubator in China, so that clinical studies and medical R&D can be catalyzed. What’s more, Tesla has built the very first Gigafactory outside the U.S. in Shanghai, with its Megafactory under construction also in Shanghai; the total assets of foreign-funded banks in China hit 3.86 trillion RMB… they can testify to how China has been opening its market.

But the country hasn’t stopped its efforts in deepening opening-up. In the raft of incremental policies, the Chinese authorities proposed to expand the Catalogue of Industries for Encouraging Foreign Investment, launching a new batch of major foreign-invested projects, implementing more relaxed visa-free transit policy, etc. These will no doubt bring more convenience and opportunities to foreign investors.

Thirdly, China has demonstrated strong resilience and stable economic performance with positive momentum. Based on recent statistics, the country’s total import and export volume in the first three quarters reached 32.33 trillion yuan, with each quarter all exceeding 10 trillion with a constantly rising trajectory. Usually, western holidays like the Halloween and the Thanksgiving will fuel exports, which can bring Q4 projections to over 11 trillion and the 2024 total to about 45 trillion RMB hopefully. As for the stock market, given that the U.S. Fed has cut its policy rate, one can say China is now the safest, and most stable market with the highest ROI.

This raft of incremental policies is comprehensive and is designed for the long-term good, rather than limited to a certain field or a certain year. For foreign investors in China, the policies signify China’s determination to realize economic transformation as well as its potential for growth.

So, where does the confidence of foreign business-runners come from? It comes from China’s practical and effective policy toolkit, the resilient, stable economic performance with a promising outlook, as well as the huge and energetic market.

China Mosaic 
http://www.china.org.cn/video/node_7230027.htm 

A raft of incremental policies lit up the confidence of foreign investors
http://www.china.org.cn/video/2024-10/25/content_117508399.htm 

 

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SOURCE China.org.cn

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DomaCom Appoints Giuseppe Porcelli as Chairman and Secures $2 Million Private Placement

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January 10, 2025

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SYDNEY, Jan. 10, 2025 /PRNewswire/ — DomaCom Limited (ASX:DCL) is pleased to announce two significant developments that will strengthen its leadership and financial position as it advances its fund-first, technology-driven strategy.

Appointment of Giuseppe Porcelli as Non-Executive Chairman

DomaCom has appointed Giuseppe Porcelli as Non-Executive Chairman. Giuseppe is the Founder, Chairman, and CEO of Lakeba Group, a global technology leader renowned for AI-powered, scalable solutions. With extensive expertise in technology-driven investment strategies, his leadership will be instrumental in accelerating DomaCom’s growth, innovation, and investor value creation.

“Giuseppe’s appointment strengthens our leadership team at a pivotal time for DomaCom,” said Darren Younger, CEO of DomaCom. “His experience in driving technological innovation and scaling businesses will support our strategy to enhance investor value and expand our market presence.”

Successful Completion of $2 Million Private Placement

DomaCom has successfully secured a $2 million investment through a private placement from sophisticated investor Martin Groen. The placement involved issuing 142,857,143 fully paid ordinary shares at $0.014 per share, reflecting investor confidence in DomaCom’s strategy and growth potential.

“This investment demonstrates strong confidence in our vision to transform DomaCom into a leading fund-first, technology-driven business,” said Giuseppe Porcelli, Chairman of DomaCom. “The additional option to secure further funding underscores the long-term alignment between DomaCom and our investors. This capital will allow us to accelerate key initiatives, deliver value to our stakeholders, and position the business for sustained growth.”

These developments mark an important step forward in DomaCom’s transformation, reinforcing its commitment to technological innovation, financial growth, and enhanced investor value.

Contact person: Darren Younger, DomaCom CEO
Darren.younger@domacom.com.au 

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SOURCE DomaCom Limited

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GlocalMe Unveils New Brand Identity and Cutting-Edge Innovations at CES 2025

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January 10, 2025

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LAS VEGAS, Jan. 10, 2025 /PRNewswire/ — GlocalMe, a global leader in mobile data connectivity under uCloudlink (NASDAQ: UCL), is proud to announce its participation in CES 2025, the world’s largest technology trade show. This year marks a significant milestone for GlocalMe as it unveils its newly refreshed brand identity and showcases an impressive lineup of innovative products that are set to redefine global connectivity.

With the theme “The Ideal Network of Life,” GlocalMe’s rebranding reflects its dedication to providing seamless, secure, and reliable internet connectivity that feels local, no matter where users are. Powered by its patented Cloud SIM and HyperConn™ technology, the brand emphasizes “Global Connectivity, Local Mindedness,” delivering a borderless yet personalized connection experience for modern digital lifestyles.

“Our new brand identity represents a transformative step in our journey to empower users with effortless and reliable global connectivity,” said Chaohui Chen, CEO of uCloudlink. “At CES 2025, we are thrilled to showcase how our innovative solutions bring the world closer together, delivering technology that feels personal and local, even in a globalized world.”

Spotlight on the GlocalMe Life Series

A major highlight of GlocalMe’s CES 2025 showcase is the GlocalMe Life Series, a collection of advanced products designed to provide secure and convenient connectivity for daily and travel use. With a focus on user convenience and peace of mind, the Life Series empowers users to stay connected effortlessly.

At CES 2025, GlocalMe will pre-launch three new additions to the Life Series:

GPet: The second generation of GlocalMe’s smart global pet tracker, featuring unique 6-tech positioning technologies to ensure the safety and location tracking of pets worldwide. New features, including ‘AI Wellness’ and ‘Pet Interaction,’ will enhance pet health monitoring and strengthen the bond between pets and their owners.UniCord S and UniCord P: Upgraded versions of the UniCord, designed specifically for drivers and remote workers. These devices offer advanced tracking features and provide secure and seamless connectivity during commutes or road trips. The UniCord P boasts upgraded mobile internet specifications, delivering a network experience comparable to a Wi-Fi hotspot.

These new products join the existing Life Series, which includes:

UniCord: The world’s first 3-in-1 multi-functional USB cable, which has been honored with the “CES Breakthrough Award 2025” by Android Authority for its innovative design and functionality.RoamPlug: The world’s only travel adapter with a built-in 4G mobile hotspot.KeyTracker: A global intelligent tracker featuring 6-tech positioning to secure and locate personal belongings with precision.

Introducing HyperConn™ Technology: Seamless Connectivity Redefined

GlocalMe will also debut its revolutionary HyperConn™ mobile Wi-Fi hotspot technology at CES 2025, redefining how users stay connected on the move. Leading this innovation is the MeowGo G40 Pro, a HyperConn™-enabled 4G multi-network mobile Wi-Fi hotspot. Designed for road trip families and remote workers, this device leverages AI-powered network switching to provide uninterrupted internet access by seamlessly connecting to multiple 4G carriers and Wi-Fi providers. This ensures reliable connectivity anywhere in the world, no matter where life takes users.

Experience GlocalMe at CES 2025

From January 7 to 10, 2025, GlocalMe will showcase its new brand identity and innovative product lineup at booth LVCC North Hall #8211. Attendees are invited to experience firsthand how GlocalMe is redefining global connectivity through its cutting-edge products and advanced technologies.

All pre-launched products from CES will be officially available by the end of the first quarter of 2025.

About GlocalMe

GlocalMe is a digital lifestyle brand under Nasdaq-listed technology company uCloudlink (NASDAQ: UCL). With its mission to enable people to ‘Connect and Share without Limitations’, uCloudlink is a leading mobile technology solutions provider that provides a marketplace for mobile data traffic sharing to billions of users in over 200 countries and regions. By using uCloudlink’s patented Cloud SIM technology, mobile users are no longer confined to the service of a single network operator but are opened to a world of connectivity whenever and wherever they are.

For more information, visit www.glocalme.com.

Photo – https://mma.prnewswire.com/media/2595181/GlocalMe.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/glocalme-unveils-new-brand-identity-and-cutting-edge-innovations-at-ces-2025-302347677.html

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Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore

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2 hours ago

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January 10, 2025

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SINGAPORE, Jan. 9, 2025 /PRNewswire/ — Reap, a leading payment technology provider, is thrilled to announce today that it has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore entity, Reap Singapore.

Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities and presence in Singapore and the broader Asia Pacific region. While the IPA marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the MPI License. Reap is equally committed to dedicating the necessary resources to support and assist Reap Singapore in achieving this goal. Together, Reap and Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore and the broader APAC customers.

“At Reap, compliance has always been paramount, not only to safeguard our users but also as a fundamental pillar for growth. Receiving this IPA from the MAS, a globally renowned financial regulator, is incredibly motivating and will be a key driver of secure growth in the region. It fuels our enthusiasm to continue collaborating closely with regulatory bodies to shape a secure and efficient money movement across the region. Reap is also committed to building a strong payment service.” stated Kevin Kang, Co-Founder of Reap.

Singapore is integral to Reap’s mission of enhancing global money movement. Its high regulatory standards and commitment to foster sustainable innovation align seamlessly with Reap’s vision for the future of payment services. This alignment empowers Reap to drive secure and efficient financial flows while delivering exceptional value to its clients and partners.

About Reap

Reap group is a leading global payment technology provider that enables financial connectivity and access for businesses worldwide. By bridging disparate economies, merging technological divides, and connecting key financial players, we are transforming the financial landscape into a more interconnected and interoperable space for efficient money movement.

With corporate cards, payout solutions, and expense management tools, we streamline financial operations and empower businesses to scale. Our APIs enable businesses to embed finance into their own products and services, from issuing Visa cards to facilitating cross-border payments.

Founded in 2018 in Hong Kong, Reap has since expanded to a team of over 100 across the globe, including Singapore. Reap is supported by a strong network of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures, and Payment Asia.

For media enquiries, please contact:

Christine Cheuk
Marketing & PR Manager, Reap
christine@reap.global

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/reap-receives-in-principle-approval-for-major-payment-institution-license-from-monetary-authority-of-singapore-302347620.html

SOURCE Reap

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