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Shanghai thriving as global investment hub

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BEIJING, Nov. 7, 2024 /PRNewswire/ — A news report from chinadaily.com.cn:

The 2024 Shanghai City Investment Promotion Conference, held on Nov 6, serves as a window for global businesses to explore Shanghai’s evolving business environment and investment opportunities.

The event, part of the 2024 China International Import Expo at the National Exhibition and Convention Center (Shanghai), is attended by representatives from the Shanghai government, businesses, investment promotion agencies and academic institutions. An array of road shows, arranged by districts and business areas of Shanghai are featured for investors to learn about the latest developments and new investment trends in the city.

In 2024, amid global economic uncertainties, Shanghai continues to stand out as a favored investment hub for foreign enterprises. By the end of September, the city boasts 998 foreign-funded headquarters and 582 foreign-funded research and development centers, marking respective increases of 42 and 21.

Companies selected Shanghai as a preferred investment destination for a multitude of reasons, including its openness, innovation, inclusiveness, efficient government services, comprehensive supply chains, prime geographical positioning, well-developed infrastructure, abundant talent pool and world-class living environment.

Supporting rapid expansion

Japan-based Yusen Logistics entered the Chinese market in 2000 with its China headquarters based in Shanghai. Over the past 24 years, the company has experienced significant growth in the country, expanding to more than 20 branches and offices nationwide, employing more than 1,200 staff members.

“Our core services encompass international ocean and air freight forwarding, warehousing, distribution services and supply chain solution. Our customers span various sectors including automotive, healthcare, retail, aerospace, technology and food industries,” said Kaori Nagamizo, chairman, president and CEO of Yusen Logistics China.

Nagamizo said that Shanghai’s position to be an international economic center, an international financial center, an international trade center and an international shipping center provides a great foundation for Yusen Logistics China to take root in Shanghai and expand its business nationwide and even globally. Meanwhile, Shanghai’s excellent hardware facilities and supporting industrial resources for the logistics industry such as its deep-water port, airports, talent pool, rapid developing telecommunication industry and finance industry also strengthen Yusen Logistics’ confidence.

In 2021, Yusen Logistics inaugurated its East Asia regional headquarters in Shanghai, aiming to consolidate resources, enhance management practices and optimize its business structure within the Chinese market.

“This strategic move has not only enabled us to deliver professional, dependable and comprehensive high-quality services to our clients but has also facilitated collaborative advancement with our partners, contributing to the sustainable development of both companies and society,” said Nagamizo.

Nagamizo said Yusen Logistics will continue to expand its presence in Shanghai and China. It will further use its expertise to bolster the development of Shanghai and China.

“The modern logistics industry in Shanghai is developing rapidly, with more than 100,000 registered enterprises, indicating a vibrant logistics sector. The city is leading industry transformation in areas such as information technology, digitalization and industry integration, positioning itself at the forefront nationwide and exerting international influence on the global logistics industry,” said Nagamizo.

“Yusen Logistics will leverage our experience and advantages in the logistics sector to enhance logistics efficiency, support Shanghai enterprises in integrating into the global supply chain, promote regional economic integration, facilitate the sustainable development of the logistics industry, support the development of emerging industries and contribute to talent cultivation and standardization in the logistics sector,” he added.

Yusen Logistics will also contribute to China’s “dual carbon” goals to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060.

“Yusen Logistics has actively promoted green logistics in the Chinese market by introducing carbon dioxide emission calculation tools, transportation process carbon emission data management systems and tailor-made carbon emission reduction solutions. We have introduced the hydrogen fuel cell truck transportation model and the Sustainable Aviation Fuel program in China,” said Nagamizo.

Navigating opportunities and challenges

E-Land, a leading apparel manufacturer from South Korea, first established itself in the Minhang district of Shanghai in 1992. Over the past three decades, the company has continually seized new opportunities in China, propelling its growth and success.

In 2023, E-Land built the E-Innovation Valley, an industrial park situated in Minhang district with an investment exceeding 1.8 billion yuan ($253.64 million).

Today, this innovation valley houses E-Land’s China headquarters and functions as a service hub for South Korean businesses. It provides support in areas such as business registration, finance, identifying local partners and logistics services.

“There is a comprehensive fashion apparel innovation center within the valley, offering services including business operations, automated logistics, e-commerce, rapid-response production facilities and photography studios. It also serves as a launchpad for South Korean enterprises seeking access into China and Chinese companies aiming to expand globally,” said Chris Kim, general manager of E-Land Investment and Operation Company. “The innovation valley not only provides a business space but also leverages the 30 years of E-Land’s experience in China.”

So far, organizations and businesses like the Korea SMEs and Startups Agency Global Business Center (Shanghai) and Speedy Factory have established their presence in the innovation valley. Additionally, Korea Startup Accelerators and Early Stage Investors Association, an association in South Korea that specializes in offering acceleration services such as investment and international expansion support to startups, has reached an agreement to relocate to the valley.

Kim said that the company will cash in on Shanghai’s status as an international consumption hub to assist emerging fashion brands from South Korea in entering the Chinese market. Moreover, the company plans to enhance its cross-border e-commerce operations by utilizing the well-established logistics network between China and South Korea.

Kim said that despite uncertainties and challenges in recent years, E-Land maintains confidence in the long-term development of China.

“E-Land is a company that consistently views challenges as opportunities,” said Kim. “In my opinion, markets can be categorized into two types: the Chinese market and non-Chinese markets. I maintain an optimistic outlook on the long-term potential of the Chinese market.”

Bolstering long-term development

In recent years, Shanghai has been committed to building itself into an international consumption hub and has identified three pioneering future industries — biomedicine, artificial intelligence and integrated circuits — with the aim to inject vitality into the long-term development of the city.

German life science company Bayer, boasting a presence of more than 140 years in China, has significantly increased its investment in consumer health products, pharmaceuticals and agricultural solutions in Shanghai and throughout China in recent years.

Bayer opened its China Center for Innovation and Partnership at the Shanghai Frontier Industrial Innovation Center for Biomedicine on Oct 16. This move signifies Bayer’s commitment to further seizing opportunities arising from the consumption upgrade trend in China.

According to Zhou Xiaolan, global executive vice-president of Bayer’s Pharmaceuticals Division, president of the Pharmaceutical Division of China and president of Bayer Greater China Region, the new setup was established to promote innovation and collaboration in the fields of health and nutrition, accelerate innovation and partnership and help enterprises explore more self-care solutions suitable for Chinese consumers.

“With the CCIP, Bayer will integrate more deeply into China’s innovation ecosystem. CCIP will continue to implement and deepen the principles of open innovation and collaborative operations, aiming to build an integrated innovation cooperation network that combines industry, academia and research institutions and establishing close relationships with partners,” said Zhou. “CCIP will also leverage Bayer’s extensive international experience to integrate consumer needs from China, Asia-Pacific region and even globally, utilizing Bayer’s global network to accelerate the internationalization of Chinese innovations.”

In the pharmaceutical area, Bayer has invested more than 3.5 billion euros ($3.81 billion) in the past three years to establish a cell and gene therapy platform, or CGT, with seven projects of CGT currently in various stages of clinical development. In the agriculture area, Bayer is actively developing and introducing crop seeds and crop protection solutions that meet diverse needs in the Chinese market.

According to Zhou, Shanghai, home to the China headquarters of Bayer, will continue to be an ideal destination for its business environment.

Shanghai’s business environment has clear advantages, especially in the pharmaceutical sector, where the development potential is immense. I believe that with the joint efforts of the government and enterprises, Shanghai’s business environment will continue to improve, creating more opportunities and development space for businesses,” said Zhou. “Shanghai is a long-time home base of Bayer in China; and we have no hesitation to promote Shanghai internationally.

“If I were to describe Shanghai with a few keywords, they would include ‘open and inclusive’, ‘innovation engine’, ‘business-friendly’, ‘talent hub’, ‘limitless opportunities’ and ‘pragmatic’.”

Getting involved in transformation

The US-based smart building solution provider, Johnson Controls, has been actively capitalizing on the vast opportunities emerging from China’s artificial intelligence industry and green economy in recent years. It aims to facilitate the high-quality and green transition of the advanced manufacturing sector.

Shanghai, a key economic center in China known for its robust demand for smart building solutions and energy management, as well as diverse application scenarios, plays a vital role in inspiring and providing market insights to Johnson Controls, according to Yu Ning, head of Government Affairs of Johnson Controls in China.

“The Shanghai of 2034 is poised to be the global model for a sustainable and smart city, where cutting-edge technologies such as AI are seamlessly interconnected into business and everyday life. Intelligent buildings will be at the heart of this sustainable and smart ecosystem,” said George R. Oliver, chairman and CEO of Johnson Controls at the 36th International Business Leaders’ Advisory Council for the Mayor of Shanghai held in September.

The ongoing measures implemented by the Shanghai government in areas such as innovation, talent development, regulation and financial support in recent years all serve to strengthen Johnson Controls’ confidence in Shanghai, according to Yu.

Shanghai, in my perspective, is a city of innovation, smart, green and low-carbon, as well as open and inclusive,” said Yu. “For many years, Johnson Controls has been actively involved in the city’s development. We are very proud to be a part of Shanghai’s transformation journey.”

 

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SOURCE chinadaily.com.cn

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Max Stock Limited Announces Change in Shares Held by an Interested Party

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CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il                 

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

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Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

 

SOURCE Wahed

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Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

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