China will take necessary measures to firmly safeguard the legitimate rights and interests of Chinese companies, a spokesperson for the Ministry of Commerce made the statement on Thursday in Beijing.
The statement was given in response to the newly-released European Union's (EU's) 15th package of sanctions against Russia, a list that included some Chinese companies and individuals.
"The EU has gone ahead with listing Chinese companies and individuals in its 15th package of sanctions against Russia despite China's repeated serious démarches and oppositions. China strongly deplores and firmly opposes it. China has always opposed unilateral sanctions that have no basis in international law and authorization by the UN Security Council. The EU's actions are contrary to the common understanding of the leaders of China and the EU, and have a negative impact on China-EU economic and trade relations, the spokesperson said.
In order to maintain the overall situation of the China-EU comprehensive strategic partnership and ensure the stability of the global industrial chain and supply chain, China urges the EU to immediately stop the wrong doing of including Chinese companies into its sanction list, and stop damaging the legitimate interests of Chinese companies, the spokesperson added.
China will take necessary measures to firmly safeguard the legitimate rights and interests of Chinese companies, stated the spokesperson.
China to take necessary measures to safeguard legitimate rights, interests of Chinese firms: spokesperson
China to take necessary measures to safeguard legitimate rights, interests of Chinese firms: spokesperson
China's Macao Special Administrative Region is looking to diversify its economy beyond its flourishing tourism sector and harness the various advantages from its geographic location in the Greater Bay Area, according to a business leader in the region.
Kevin Ho King Lun, director of the Industry and Commerce Association of Macao, said the region has punched well above its weight economically but is now aiming to further develop through pursuing a "1+4" economic diversification strategy.
The five-year plan, which is scheduled to run through to 2028, will continue to build on its strong tourism and leisure sector while promoting four core industries, namely health and wellness, modern finance, high-tech, and a broader sector which includes exhibitions, commerce, culture and sports.
"Macao is a relatively small economy, with only 680,000 people [and an area of] 33 square kilometers, we are having roughly 400 billion [yuan] in GDP. That gives Macao a very stable economy. For us to transform into a new economic module, apart from already a very successful and prosperous tourism sector, but we have been relying too heavily on the tourism. So we need to start to diversify it. Now we have the '1+4' transformation. From tourism, we need to add in modern finance, we need to add in high-tech businesses, and we need to [also grow] a greater health industry. We are small, but we are flexible," said Ho.
Ho believes that region's positioning as part of the Greater Bay Area -- a major city cluster and vibrant economic region which comprises Hong Kong and Macao, and nine cities in south China's Guangdong Province -- will also enable its service and financial industries to benefit significantly, as Macao integrates further with the mainland.
He also believes the integration of Macao with major economic centers like Shenzhen and Hong Kong -- one of the world's top financial hubs -- will significantly boost the region's global competitiveness.
"Service industries, the finance industry will perform better in the Greater Bay Area, because we have Shenzhen, we have Hong Kong. We have to better utilize the finance and the modern finance breakthrough, so that we are more in the level playing field amongst the world. Macao, as a service industry, we can utilize Macao to attract many more international forums, exhibitions into Hong Kong, Macao and the Greater Bay Area. If we can break through the borders, I think we will have the best places for anywhere in the world to perform shows, to do forums, to attract really high-end business people into our Greater Bay Area," said Ho.
Macao aims to diversify economy beyond tourism sector: business leader
Macao aims to diversify economy beyond tourism sector: business leader
