As the last stop on his four-country Latin American tour, Chinese President Xi Jinping met with Cuban President Raúl Castro to discuss, among other things, increasing bilateral trade and investment. President Xi was greeted with military honors at Cuba's Palace of the Revolution, the venue for talks between the two leaders. As the only single-party communist state in the Americas, Cuba started opening up its economy in 2008 with limited success, but observers note that Cuba appears to be following in China's footsteps with regard to economic and trade reforms, which lays a foundation for increased cooperation between the two countries.
China is already Cuba's primary source of credit, as well as being its second-largest trading partner, after Venezuela. Cuba has long been barred from trading with the United States, and is excluded from dealings with the World Bank, so strengthening ties with China is seen as vitally important to the Caribbean island. The new free-trade zone and container port of Mariel in northwest Cuba will serve to facilitate increased trade, and more than fifty entrepreneurs from China are also visiting Havana, the capital of Cuba, to investigate and promote business opportunities.
Deborah Rivas, Cuba's director-general for foreign investment, was reported as saying that the country wants Chinese businessmen to invest in Cuba, as well as to partner with Cuban companies. On the agenda for President Xi's is a trip to Santiago de Cuba, where he is exptected to make an announcement regarding cooperative deals between China and Cuba. It is speculated that these deals may include rebuilding housing which was destroyed in October 2012 by Hurricane Sandy.
President Xi's trip started off in Brazil – one of the five BRICS countries – and included Argentina and Venezuela. Trade between China and Latin American countries has seen rapid growth, reaching more than $260 billion in 2013.
Wall Street JournalLuxembourg Covets Offshore Trade in China's YuanWall Street JournalLike their rivals from London, Paris, Frankfurt and other financial centers, Luxembourg fund managers, regulators and politicians have made major overtures to attract China's financial clout to the country. Even Crown Prince Guillaume, the 32- year-old ...and more »
Alibaba's maturity mismatchThe Economist (blog)By this February it had already attracted 81 million investors, which, as the Financial Times pointed out, exceeded China's 77 million active stock-trading accounts. With some 574 billion yuan ($93 billion) under management at the end of June, it is ...
Wall Street JournalChina Finance Minister Says 7.5% GDP Target Not a 'Floor'Wall Street JournalBEIJING?Chinese Finance Minister Lou Jiwei said that the government's 7.5% economic growth target isn't a "floor," suggesting that Beijing may be comfortable with slower growth. Early this year, China set its annual target at "around 7.5%." But recent ...China says it's up to US to drive global economyYahoo NewsChina to Keep Intervening on Yuan, Finance Minister SaysBloombergNo new stimulus in the works, Chinese finance minister saysCTV NewsBelfast Telegraph -People's Daily Online -Courier Mailall 1,487 news articles »
Trend.azChina suspends $66 billion finance for Iranian projectsTrend.azThe chairman of the economic committee of the Iranian parliament says China has suspended $66 billion finance for Iranian projects. Arsalan Fathipour added that "China wants to finance Iranian projects less than the amount Iran claims from the country.and more »
China, Brazil close plane, finance, infrastructure dealsReutersIn a raft of energy, finance and industry accords signed before presidents Xi Jinping and Dilma Rousseff, the two nations agreed to join forces to build railways to help Brazil cut its infrastructure deficit and feed China's appetite for commodities ...China offers 35bn fund to finance infrastructure projects in Latin AmericaMercoPressChina's Xi hails 'new horizons' in ties with ArgentinaYahoo!7 Newsall 297 news articles »
CNBC.comIs Alibaba's move to disrupt banking failing?CNBC.comChina Internet titan Alibaba's foray into online financial services was once hailed as revolutionary for the mainland's banking sector, but now some analysts believe it's no longer particularly radical. Yuebao, an online money market fund launched ...Can Alibaba overcome the 'China syndrome' with its US IPO?South China Morning Post (subscription)all 9 news articles »
- Swiss-China FTA Set to Increase Trade - Editor, Wednesday 9 July 2014
- China Aims For AIIB Founding By Year-End - Editor, Wednesday 25 June 2014
- New Texas-China Air Travel Routes Likely to Boost Trade - Editor, Wednesday 11 June 2014
- CIFTIS: Promoting Trade in Services in China - Editor, Wednesday 28 May 2014
- US Agricultural Trade Mission to Northeast China - Editor, Wednesday 14 May 2014
- China's Trade with Portuguese-Speaking Countries Grows - Editor, Wednesday 30 April 2014
- Business Opportunities at 2014 Canton Fair - Editor, Wednesday 16 April 2014
The Free Trade Agreement signed by Swiss Federal Councilor Johann Schneider-Ammann and Chinese Minister of Commerce Gao Hucheng on July 6, 2013, came into effect on July 8, 2014, making Switzerland the first mainland European country to enter into such an agreement with China. The deal came about as a result of two years of negotiations between Bern and Beijing and is designed to cut through excessive red tape and regulate import and export tariffs, with a view to, among other factors, Switzerland gaining access to the sizable Chinese consumer market and China gaining the benefit of Swiss technological innovations.
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In addition to enjoying increasing influence as an economic powerhouse, China has been identified as the world's fastest-growing air travel market, information which no doubt played a role in the establishment by American Airlines of direct routes between Dallas-Fort Worth International Airport and two destinations in China – Hong Kong and Shanghai. American Airlines became the world’s largest airline following its December merger with US Airways, but was lagging behind competing US airlines, Delta and United, with regard to services to Asian destinations, including Japan and China.
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Taking place on May 28 to June 1, 2014, the China Beijing International Fair for Trade in Services (CIFTIS) offers a comprehensive platform for promoting international trade in services. Hosted by the Ministry of Commerce of People's Republic of China and People's Government of Beijing Municipality, CIFTIS is supported by the World Trade Organization (WTO), the United Nations Conference on Trade and Development (UNCTAD) and the Organization for Economic Cooperation and Development (OECD). CIFTIS covers all twelve sectors of trade in services as set out by the WTO – communication services; business services; construction and related engineering services; educational services; distribution services; financial services; environmental services; health and social services; tourism and travel-related services; recreational, cultural and sports services; transport services; and other services.
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