Day: September 8, 2022

BEIJING, Sept. 8, 2022 /PRNewswire/ — A news report from chinadaily.com.cn:

Participants in the fourth China-Arab Trade and Investment Summit on Wednesday hailed cooperation between China and Arab nations, saying that it has displayed great vitality and resilience amid the uncertainty and instability in today’s world.

At the event in Xiamen, Fujian province, they said that China-Arab cooperation will boost the high-quality development of the Belt and Road and make positive contributions to building a community with a shared future for mankind.

While delivering a video speech at the summit, Qu Yingpu, publisher and editor-in-chief of China Daily, said that from the ancient Silk Road to today’s Belt and Road Initiative, China and Arab nations have never stopped learning from each other through their trade connections and people-to-people exchanges, writing a spectacular chapter in the history of human civilization.

As the national English-language newspaper, China Daily, Qu said, has been dedicated to promoting exchanges and communication between China and the rest of the world. Over the past years, it has carried out a series of cooperative efforts with Arab media and enterprises and striven to contribute to the development of ties between China and Arab nations, he added.

Qu expressed his wish that China and Arab countries would keep deepening their trade and investment cooperation, push forward the high-quality development of the Belt and Road and work together to build a China-Arab community with a shared future facing the new era.

Ali Obaid Al Dhaheri, the ambassador of the United Arab Emirates to China, said that the Arab-China connection had experienced a golden age during the 7th century, which encouraged trade to flourish and facilitated the exchange of scientific knowledge in medicines, mathematics and astronomy between the two great regions.

“Today, this complementary and mutually beneficial trade relationship has been reestablished, developing into what could be considered a second golden age in China-Arab relations, best exemplified by the comprehensive strategic partnership between the UAE and China,” he said.

Despite the impact of the COVID-19 pandemic, China remained the largest trading partner of Arab states last year, with bilateral trade standing at around $330 billion, a year-on-year increase of about 37 percent, according to official statistics.

Fahad Al Gergawi, chief executive officer of the Dubai Investment Development Agency, said that efforts to deepen cooperation and coordinate innovation between Dubai and China will help realize their respective development plans and play a positive role in upholding economic globalization.

Huang Na’en, deputy director-general of the Fujian Department of Commerce, said that the province, as the birthplace of the Maritime Silk Road, has carried out close economic and trade cooperation with Arab countries in recent years, with bilateral trade increasing by 33 percent year-on-year in the first seven months of the year.

Ge Jia, executive president of China Arab TV, said the success of the summit showed that China-Arab cooperation cannot be obstructed by the virus and the Dubai-based TV channel will continue to provide a platform and services for China-Arab economic and trade cooperation.

The summit, launched in 2019 by China Arab TV, was themed “Build an Innovation-Driven Community with a Shared Future for Global Development” this year. It was jointly supervised by China Daily and the Fujian Department of Commerce, as a sideline event of the China International Fair for Investment and Trade, which officially opens on Thursday.

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SHANGHAI, Sept. 8, 2022 /PRNewswire/ — Shanghai Electric moved up to 40th place on the 2022 Top 250 International Contractors list released by Engineering News-Record (ENR), a world-renowned academic publication for news, analysis, commentary and data on the global engineering and construction industry.

The company placed 51^st last year, rising swiftly to this higher position on the list in just a short period. Widely considered as the industry barometer, the annual ENR list is a highly influential, authoritative ranking that comprehensively reflects the trends taking place across the international engineering market throughout the year.

The list ranks the world’s construction companies based on revenue generated by the sum of the projects they are involved in. Shanghai Electric made the list by virtue of 11 of its major international projects, including a photovoltaic-thermal (PV-T) facility and Phase 5 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the Thar Block-1 Integrated Coal Mine in Pakistan, a gas-fired thermal power plant in Pancevo, Serbia, a solar facility in Cyprus as well as power plants in Rupsha, Bangladesh and Wassit province, Iraq.

In addition, the firm took third position among China’s state-owned power engineering enterprises on the list, up by one position from last year, while ranking among the top ten on the regional list for the Middle Eastern market.

Despite the continued impact of the COVID-19 pandemic in 2021, Shanghai Electric achieved several major milestones by overcoming unprecedented challenges and continuing the implementation of its overseas projects, ensuring the uninterrupted growth of revenue from the projects while contributing significantly to the rise of the firm’s ranking on the ENR list.

The milestones included the grid connection of Zone 1 of the company’s PV-T facility in Dubai and of Pancevo’s gas turbine units, the temporary handover of Zone A at Phase 5 of Dubai Solar Park, the hydraulic testing of boilers at the Thar power plant, the connection of Thar Coal Mine’s PV power station to the power grid in Bangladesh (a grid that is currently over-reliant on fossil fuels), and the concrete pouring for Rupsha’s steam turbine base.

In 2022, 79 mainland Chinese companies were included in the list, making China the first in the world in terms of the number of firms that made the ranking. Four of them are involved in the power engineering sector, aside from Shanghai Electric, they include Power Construction Corporation of China (PowerChina), China Energy Engineering Group (Energy China) and China National Machinery Industry Corporation. Shanghai Electric also ranked among the top ten on the regional list alongside PowerChina, Energy China, China State Construction Engineering Corporation and China Railway Construction Group Corporation.

According to the ENR list, the global infrastructure construction market showed a recovery in 2021. Combined contracting revenue of the Top 250 increased 5.1% year on year to $547.2 billion last year, while combined international turnover of the companies declined 5.4% to US$397.9 billion, a vast improvement compared to the drop of 11.1% in 2020. Among the 236 companies that have made the list for two consecutive years in 2021 and 2022, 62.3% saw an increase in international turnover.

All of the top 250 companies have built distinctive competencies in their respective regional markets. Most notably, Chinese contractors continued their leadership role in Africa (with a share of 59.3%), Asia (55.3%) and the Middle East (40%). In 2021, turnover from the transportation construction business of the Top 250 reached US$132.17 billion, accounting for 33.2 per cent of the total, followed by housing construction, petrochemical and power engineering, with combined turnover of the four business types making up 80.1% of the total.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 2727, SSE: 601727) is a world-class high-end equipment manufacturer, focusing on smart energy, intelligent manufacturing and smart infrastructure to provide green and intelligent industrial-grade system solutions. It has a global presence in industries such as new energy, efficient clean energy, industrial automation, medical devices and environmental protection.

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DUBAI, Sept. 8, 2022 /PRNewswire/ — From August 9th to 10th, 2022, the Financial Technologies & Cyber Security Exhibition & Conference was held at St. Regis Amman, Jordan. As a guest, ATFX shared its views on important issues at the exhibition, such as how brands can protect customer account data and endure customer funds’ security.

The exhibition participants included local banks, financial service providers, and other stakeholders. ATFX was the first fintech-powered CFD broker to attend the exhibition, which attracted significant attention from the media.

During the event, the organizers awarded ATFX the Best Fintech Innovations Award 2022. So far, ATFX has won 7 awards this year, including Hot brands of the Year 2022, Most Trusted Broker, Global best broker and more.

As part of its growth strategy, ATFX continues to explore the infinite possibilities of technology to bring first-class technology services to customers. In the future, ATFX will continue to expand its efforts in developing financial technologies to respond to the needs of its global customer base.

ATFX
ATFX is an award-winning FX/CFD broker with a global presence offering customer support in over 15 languages. With over 300 tradable financial assets, including currency pairs, commodities, energy, indices, stocks CFDs, and ETF CFDs.  ATFX is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. In addition, ATFX is licensed by the Financial Services Commission (FSC) in Mauritius and registered by the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. (ATFX Website: https://www.atfx.com/)