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China.org.cn: Seminar calls for global poverty reduction innovation, cooperation amidst pandemic

BEIJING, Nov. 26, 2020 — The 2020 International Seminar on Global Poverty Reduction Partnerships was held in Longnan city, Gansu province, China, on Nov. 24. More than 100 participants from governments, academia, international organizations, NGOs, and the private sector attended the seminar. High-level representatives from the UN, officials from developing countries in Latin America and Africa attended the seminar online.

The 2020 International Seminar on Global Poverty Reduction Partnerships was held in Longnan city, Gansu province, China, on Nov. 24.
The 2020 International Seminar on Global Poverty Reduction Partnerships was held in Longnan city, Gansu province, China, on Nov. 24.

This year’s session was themed on global poverty reduction innovation and cooperation amidst pandemic. The conference provided an opportunity for attendees to learn about poverty reduction practices and achievements and discuss how to narrow the digital divide around the world, help impoverished people benefit from digital innovation, and enhance anti-pandemic cooperation and poverty reduction knowledge sharing.

Gansu’s last eight poverty-stricken counties had been removed from the poverty list, and the province now sees all of its 75 impoverished counties out of poverty, the provincial government announced last Saturday.

Tang Renjian, governor of the People’s Government of Gansu Province, mentioned that Gansu has seen 5.675 million people out of absolute poverty since 2013 and that the local government has provided a total of 83.68 billion yuan of poverty reduction funding since 2016. He also stated that a comprehensive policy system has been implemented to ensure that people stricken by poverty have access to education, medical care, housing, and clean water, completing all the poverty reduction tasks in impoverished areas.

Du Zhanyuan, president of the China International Publishing Group (CIPG) said: "Poverty eradication is part of the world history and is a global endeavor that people have been involved with in various ways for a long time." Du stressed that it is important to combine things like economic development, culture, and digital infrastructure, and it is also vital to protect basic rights through economic development and bridge the digital gap via digital poverty alleviation. 

Chen Zhigang, vice minister of the State Council Leading Group Office of Poverty Alleviation and Development (LGOP), noted that China has made a lot of efforts to offset the negative effects of the COVID-19 pandemic. He emphasized that the country has "established an analysis and response mechanism to effectively prevent people from falling back to poverty and provide targeted assistance." Chen also pointed out that the general public has made efforts to promote poverty reduction by purchasing more than 200 billion yuan (US$30.34 billion) of poverty alleviation-oriented products this year.

Ye Anping, director of the South-South and Triangular Cooperation Division, Food and Agriculture Organization of the United Nations (FAO), stated via live video feed that digital tools and technologies are essential to the development of the food system and sustainable agriculture and emphasized the importance of global access. "The massive reduction of poverty in China over the past 40 years since the reform and opening up is one of the great success stories of modern times in the area of global economic and social development," he stressed. "E-commerce in China is an innovative approach to connecting smallholder farmers and big markets and is evolving rapidly."

Ron Hartman, director of the Global Engagement, Partnership and Resource Mobilization, International Fund for Agricultural Development (IFAD) said via video that poverty reduction is a multifaceted undertaking that requires innovation and that there is "no quick fix." It is very important to balance four major factors related to food — sufficient supply, affordable prices, planetary boundaries, and the needs of small-scale farmers. He told participants that investment in agriculture is two to three times more effective when engaging in poverty reduction than in other areas and that farmers can be helped in four main ways, namely by putting them at center stage with regard to policymakers and other leaders, guaranteeing access to financial services so that they can access key inputs at the right times, ensuring that suitable cutting-edge technologies are available to them, and by strengthening partnerships with entities such as the private sector and civil society.

Stanlake Samkange, senior director of Strategic Partnerships, World Food Programme (WFP), stated that cooperation between China and the WFP is essential via Zoom. He noted that the two have embarked on a new era of partnership in order to end global hunger, eradicate poverty, and support the achievement of the SDGs globally by sharing lessons learned from China’s successful poverty relief and developmental experience, developing partnerships with public and private organizations, and piloting innovative and replicable programs in order to reduce food insecurity and reach the last mile in China and other countries.

Jose Luis Gioja, deputy speaker of the House of Representatives of Argentina and chairman of the Partido Justicialista, remarked via video that his country is willing to further its experience sharing with nations like China in order to inspire solutions for the people who need them most so that the challenges caused by COVID-19 can be addressed. "Seeking a proper way to eradicate poverty is the basis for China and Argentina to enhance our cooperation," he mentioned. "I hope our two countries can strive for a better future without poverty."

Xiang Huangmei, vice president of the Alibaba Group, said that the company has been committed to utilizing digital methods of poverty eradication in China and beyond and remarked that e-commerce-oriented livestreaming is a concrete example of the digital economy. "It’s a demonstration to the power of poverty alleviation through online consumption," she noted.

The multilingual book Keywords to Understand China: Targeted Poverty Reduction and English version of the book The Way Forward 2020: Stories of Poverty Reduction in China were presented to the foreign participants. The former shares China’s poverty alleviation practices, providing its experience to the rest of the world by telling the stories of people’s efforts to eliminate poverty. It aims to boost confidence between countries to join hands together to fight global poverty. The latter is a collection of 25 poverty reduction stories written by 11 writers from a foreign perspective. It focuses on poverty alleviation via industrial development in China’s 15 provinces and regions.

Gao Anming, vice president and editor-in-chief of CIPG, announced the awards associated with the case studies that were submitted for the first compilation of the second call of the Global Solicitation on Best Poverty Reduction Practices.

A half-hour-long livestreaming event devoted to the sale of poverty alleviation-oriented products was held one day before the seminar. With the assistance of the Alibaba Group, 6.5 tons of apples from Gansu’s Li county were sold within the first five minutes of the livestreaming. Dr. Marielza Oliveira, FAO Representative ad interim in China, said that providing high-quality agricultural products to consumers in China and other countries at favorable prices promoted poverty alleviation through online consumption.

The International Seminar on Global Poverty Reduction Partnerships, held for three consecutive years since 2017, plays an important role in strengthening global poverty reduction partnerships. This year’s session was organized by three United Nations Rome-based agencies (RBAs) — FAO, IFAD, and WFP – in cooperation with the China International Publishing Group (CIPG), the People’s Government of Gansu Province, the International Poverty Reduction Center in China (IPRCC), and the China Internet Information Center (CIIC).

Seminar calls for global poverty reduction innovation, cooperation amidst pandemic
http://en.chinagate.cn/2020-11/25/content_76946684.htm

Frost & Sullivan awards Digital14 ‘Company of the Year’ in the United Arab Emirates cybersecurity services industry

DUBAI, UAE, Nov. 25, 2020 — Based on its recent analysis of the United Arab Emirates (UAE) cybersecurity services market, Frost & Sullivan recognizes Digital14 with the 2020 UAE ‘Company of the Year’ award. Since its inception in 2019, Digital14 has built and cultivated valuable and deep partnerships within the government and commercial sectors, leading clients through their digital transformation and cybersecurity journeys. The organization builds on a diverse set of practices created to launch, foster, and spearhead the development of commercial cybersecurity capabilities in the UAE. This encompasses end to end delivery of cyber and digital transformation from ideation to implementation leveraging its cyber services, secure solutions, government solutions, digital transformation, and digital and cyber education capabilities.  

Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies and the resulting leadership in terms of customer value and market penetration.

Digital14 has made strong inroads into the UAE marketplace, providing services to several government entities in Abu Dhabi as a leading thought leader and advisor. Through its comprehensive cyber services offering, government and commercial sector clients can assess, transform, and manage their cybersecurity posture. Additionally, Digital14 leverages its broad spectrum of cybersecurity capabilities to assist its clients with their cybersecurity policy compliance, strategy, breach preparedness, incident response, and security operations.

Frost & Sullivan’s assessment scorecard considers a company’s visionary innovation and performance, as well as customer impact. In terms of innovation, nominees are judged based on excellence in five criteria: addressing unmet needs, visionary scenarios through megatrends, implementing best practices, financial performance, and blue ocean strategy. To satisfy this last criteria, a company must continually demonstrating strategic focus to create a leadership position in a potentially uncontested market space, manifested by strong barriers to entry for competitors. Regarding customer impact, a further five areas are thoroughly evaluated including price/performance value, customer purchase experience, customer ownership experience, customer service experience, and brand equity.

"To receive the Company of the Year award, winning organizations are always required to demonstrate excellence in growth, innovation, and leadership. They have a keen eye on the future and are often the first to market new solutions, driving innovation that meets upcoming needs before becoming commonly visible and focusing on delivering the best products at optimal prices to maximize customer value and experience," said Saurabh Verma, Director – ICT, Middle East, Frost & Sullivan. "Digital14 is a trusted advisor within the UAE and, through its governance, risk management and compliance (GRC) advisory group, helps the government and private sector develop, improve, and govern cybersecurity regulations. As a result of our research, we at Frost & Sullivan are pleased to recognize Digital14 as Company of the Year in the UAE cybersecurity services industry."

Organizations in the UAE are showing a positive inclination for cybersecurity services, striving to improve their security postures in the face of an increased threat landscape that involves mobile devices, cloud services, applications, and network protocols. For instance, many service providers and organizations are building their own digital and cybersecurity strategies to support their business transformation journey. Infrastructure, software, and related digital services are evolving rapidly, consequently widening the threat landscape.

"The Internet of Things (IoT) and Smart Cities are pushing for a new level of cybersecurity, which Digital14 offers through a combination of innovative cybersecurity solutions," added Verma. "Another big mission for the company is to close the skills gap in the cybersecurity domain by nurturing and growing the next generation of digital and cybersecurity-centric talent. Its customer-centricity and close partnership with the government are expected to ensure the company continues playing a leading role in raising the country’s cybersecurity awareness."

Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:

Tarini Singh 
P: +91-20 6718 9725 
E: Tarini.Singh@frost.com

About Digital14

Delivering trust in a world where cyber risks are a constant threat, Digital14 guides clients on their journeys to reach unprecedented heights and navigate what lies ahead in tomorrow’s digital frontier. Digital14, established in 2019, is part of ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy. Based in the regional and global innovation hub of Abu Dhabi, this provides the ideal platform for Digital14 to accelerate digital advancement and cyber resilience solutions via robust, end-to-end solutions. Whether it is enjoying the freedoms of a protected internet, secure transactions or safe communications – we Protect, Transform, and Nurture today so that everyone can flourish with the freedom to achieve their potential, tomorrow. For more information, visit digital14.com

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Global Telco Cloud Revenue Will Grow to US$29.3 Billion by 2025


ABI Research’s latest whitepaper highlights 36 transformative technology stats you need to know for 2021

OYSTER BAY, N.Y., Nov. 25, 2020 — Global telco cloud revenue will grow to US$29.3 billion by 2025, up from US$8.7 billion in 2020, at a 5-year Compound Annual Growth Rate (CAGR) of 27%. The telco cloud growth will be driven primarily by cloud infrastructure-related investments, such as Virtual Network Functions (VNFs), Management and Network Orchestration (MANO), and Cloud Native Functions (CNFs). By 2025, the telco cloud market will be worth US$10 billion in North America, US$9 billion in Asia-Pacific (APAC), and US$8.2 billion in Europe, forecasts global tech market advisory firm, ABI Research in its new whitepaper, The 36 Transformative Technology Stats You Need to Know for 2021.

This introduction of cloudified environments in the telco business landscape also presents some shifts in the value chain. For example, telcos are now being presented a second option of telco cloud deployment—the multi-vendor approach, in which different network equipment vendors are responsible for different components of the telco. "While this approach seems to provide some benefits, such as avoiding single-vendor lock in, it also requires substantial coordination of effort, not only through robust MANO, but also between stakeholders during certain key phases of the telco cloud deployment, such as the design and planning phase," explains Kangrui Ling, 5G Core and Edge Networks Research Analyst at ABI Research.

Another 5G Core and Edge Networks trend highlighted in the whitepaper: 5G network slicing stands to create approximately US$8.9 billion by 2026 at a CAGR of 76%. "Arguably that is a drop in the bucket for Communication Service Provider (CSP) service revenue. CSPs continue to possess strong network assets, namely low-latency, last-mile access and core network capabilities," Don Alusha, Senior Analyst at ABI Research points out. But for the broader industry, capturing significant new growth opportunity will vary in line with their corresponding digitization initiatives and readiness to adopt new technologies like 5G core networks and cloud-native principles. Conversely, hyperscalers like Microsoft and Amazon are cognizant of these dynamics and are positioning themselves accordingly with telco-specific solutions like Amazon Web Services (AWS) Wavelength and Microsoft Azure Edge Zones, particularly on edge computing deployments. "Though moderate in the next 5 years, new value creation abounds, but the jury is still out who captures what parts of the bigger emerging 5G edge and network slicing ecosystem," Alusha says.

About the whitepaper, Stuart Carlaw, ABI Research’s Chief Research Officer says, "We have selected, from among the many millions of data points ABI Research creates each year, to focus on some enlightening data points that matter in the year ahead. Aspects like Tiny Machine Learning (TinyML), private cellular networks, Open Radio Access Network (RAN), blockchain, smart manufacturing platforms, and even connected cows point to how technology advancements are allowing our physical world to be better connected, managed, and efficient. The forecasts presented in this paper may be easy to dismiss but are very important directional indicators of the technology-enabled world of the future."

Download The 36 Transformative Technology Stats You Need to Know for 2021 to learn more. You are welcome to share this link with your readers.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导,帮助客户了解日新月异的技术。 自1990年以来,我们已与全球数百个领先的技术品牌,尖端公司,具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

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Deborah Petrara  
Tel: +1.516.624.2558 
pr@abiresearch.com  

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Championship of the 6th ‘Internet +’ Competition Came to a Successful Conclusion

BEIJING, Nov. 24, 2020As reported by CRIOnline, recently, championship of the 6th China International College Students’ ‘Internet +’ Innovation and Entrepreneurship Competition came to a successful conclusion in South China University of Technology. After three sections consisting of project roadshows, guest reviews and voting by 150 professional panels at home and abroad, six projects were final winners of the event, including one champion, two runners-up and three second runners-up. A project on measuring industrial chains through Internet satellite submitted by Beijing Institute of Technology was crowned with the championship.

the 6th China International College Students’ ‘Internet +’ Innovation and Entrepreneurship Competition
the 6th China International College Students’ ‘Internet +’ Innovation and Entrepreneurship Competition

The two runners-up projects were brought by Tsinghua University and Xiamen University. The Tsinghua team, by coordinately optimizing performance of chips and algorithms, designed a type of ultra-low power AI chip for industrial IoT use cases, thus helping solve problems in data management and migration. The MEMS pressure chip developed by the team of Xiamen University can be used in various fields such as aerospace, transportation, energy resource, industry, consumption, and electronics.

Three projects were recognized as second runners-up. "JetPack MAI", a project from the Moscow Aviation Academy, was committed to developing and manufacturing aircraft for complex uses. "Advanced Robot-Assisted System for Dental Surgery", a project from the Technical University of Munich, developed an AI robot for dental surgery. This system is working with a cloud platform that thoroughly integrates software and hardware. "E-mental Health", a project from Carnegie Mellon University, was designed to monitor tones, expressions, and heartbeats of a person, and carry out emotional assessment and follow-up intervention with the help of wearable devices and artificial intelligence.

The competition has drawn 6.31 million participants from China and abroad. 1.47 million projects from 4,186 colleges in 117 countries and regions have signed up for this year’s competition since its preliminary contest commenced in June 2020.

 

Official G20 2020 Family Photo Released

RIYADH, Saudi Arabia, Nov. 21, 2020 — The Saudi G20 Presidency is pleased to share a family photo of the G20 leaders projected this evening on the walls of the UNESCO World Heritage Site At-Turaif District in Ad-Diriyah outside Riyadh.

Official G20 2020 Family Photo Released
Official G20 2020 Family Photo Released

Ad-Diriyah is the birthplace of the first Saudi state, historical crossroads of pilgrims and traders, and home to one of the kingdom’s most ambitious heritage developments.

For the high-res, please visit the G20 Media Microsite.

Photo – https://techent.tv/wp-content/uploads/2020/11/official-g20-2020-family-photo-released.jpg

 

G20 Riyadh Summit: Post-Presidency Press Conference

RIYADH, Saudi Arabia, Nov. 21, 2020 — The G20 Riyadh Summit will be held virtually from November 21 – 22, 2020.

The G20 Presidency Press Conference will be conducted after the conclusion of the second and last day of the Leaders’ Summit by Saudi Finance Minister His Excellency Mr. Mohammed Al Jadaan and the Saudi G20 Sherpa His Excellency Dr. Fahad Almubarak.

The G20 Presidency Press Conference will take place following the conclusion of the Summit and the official release of the Declaration.

Media are invited to submit questions online using the submission form found here. Every attempt will be made to answer as many questions as possible during the allocated time.

The press conference will be broadcast by Saudi TV and streamed on the official G20 Media Microsite and Twitter

 

 

SINA to Hold Extraordinary General Meeting of Shareholders

BEIJING, Nov. 20, 2020 — SINA Corporation (the "Company" or "SINA") (Nasdaq: SINA), a leading online media company serving China and the global Chinese communities, today announced that it has called an extraordinary general meeting of shareholders (the "EGM"), to be held at 10:00 a.m. Beijing Time on December 23, 2020, at Room Beijing, 1/F SINA Plaza No. 8 Courtyard 10 West, Xibeiwang East Road, Haidian District, Beijing 100193, People’s Republic of China, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") dated September 28, 2020 by and between New Wave Holdings Limited ("Parent"), New Wave Mergersub Limited, a wholly owned subsidiary of Parent ("Merger Sub") and the Company, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands in connection with the merger (the "Plan of Merger") and the transactions contemplated thereby, including the merger.

Pursuant to the Merger Agreement and the Plan of Merger, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent. If completed, the merger will result in the Company becoming a privately held company and its ordinary shares ("Ordinary Shares") will no longer be listed on the NASDAQ Stock Market LLC. In addition, the Ordinary Shares will cease to be registered under Section 12 of the Securities Exchange Act of 1934.

The board of directors of the Company, acting upon the unanimous recommendation of the special committee of the board of directors of the Company comprised solely of independent directors unaffiliated with the buyer parties, approved the Merger Agreement, the Plan of Merger and the consummation of the transactions contemplated thereby, including the merger, and resolved to recommend that the Company’s shareholders vote FOR, among other things, the proposal to authorize and approve the Merger Agreement, the Plan of Merger, and the consummation of the transactions contemplated thereby, including the merger.

Shareholders of record as of the close of business in the Cayman Islands on November 20, 2020 will be entitled to attend and vote at the EGM.

Additional information regarding the EGM and the Merger Agreement can be found in the transaction statement on Schedule 13E-3 and the proxy statement attached as Exhibit (a)-(1) thereto, as amended, filed with the U.S. Securities and Exchange Commission ("SEC"), which can be obtained, along with other filings containing information about the Company, the proposed merger and related matters, without charge, from the SEC’s website (http://www.sec.gov). In addition, the Company’s proxy materials (including the definitive proxy statement) will be mailed to the Company’s shareholders.

SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE PROPOSED MERGER AND RELATED MATTERS.

The Company and certain of its directors and executive officers may, under SEC rules, be deemed to be "participants" in the solicitation of proxies from the shareholders with respect to the proposed merger. Information regarding the persons who may be considered "participants" in the solicitation of proxies is set forth in the Schedule 13E-3 transaction statement relating to the proposed merger and the definitive proxy statement attached thereto. Further information regarding persons who may be deemed participants, including any direct or indirect interests they may have, is also set forth in the definitive proxy statement.

This announcement is for information purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell any securities or a solicitation of any proxy, vote or approval with respect to the proposed transaction or otherwise, nor shall it be a substitute for any proxy statement or other materials that have been or will be filed with or furnished to the SEC.

About SINA

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile apps) and Weibo (social media) enables internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its region-specific websites and a full range of complementary offerings. SINA mobile provides news information, professional and entertainment content customized for mobile users through mobile applications and mobile portal site SINA.cn.

Weibo is a leading social media platform for people to create, distribute and discover content. Based on an open platform architecture, Weibo provides unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world.

Through these properties and other product lines, SINA offers an array of online media and social media services to its users to create a rich canvas for businesses and advertisers to effectively connect and engage with their targeted audiences.

Safe Harbor Statements

This press release contains statements that express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Act"). These forward-looking statements can be identified by terminology such as "if," "will," "expected" and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions. Risks, uncertainties and assumptions include: uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders; the possibility that competing offers will be made; the possibility that financing may not be available; the possibility that various closing conditions for the transaction may not be satisfied or waived; and other risks and uncertainties discussed in documents filed with the SEC by the Company, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact

Investor Relations
SINA Corporation
Phone: +86 10 5898 3336
Email: ir@staff.sina.com.cn

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CGTN: Shanghai’s Pudong to be pioneer in China’s new reform drive

BEIJING, Nov. 13, 2020 — After 30 years of development and opening-up, Pudong in east China’s Shanghai Municipality has been given two new roles in the country’s overall development in the next three decades. 

 

The area should strive to become a pioneer of reform and opening-up at a higher level and a vanguard in fully building a modern socialist country, Chinese President Xi Jinping said on Thursday at a grand gathering in Shanghai to celebrate the 30th anniversary of Pudong’s development and opening-up. 

Xi, also general secretary of the Communist Party of China (CPC) Central Committee, said as China embarks on a new journey to achieve the goal of fully building a modern socialist country by the middle of the century, Pudong needs to bear new historic missions to facilitate the process. 

Read original article here.

He encouraged the district to "carry the heaviest load" and "crack the hardest nut" in China’s reform and modernization drive.

Read more:

How Xi Jinping cares about Pudong’s opening-up and development

Pudong 30 years on: Epitome of China’s modernization and opening-up

Engine of innovation

Thursday’s event came two weeks after the conclusion of the fifth plenary session of the 19th CPC Central Committee, at which Chinese leaders charted the country’s development course for the next 15 years. 

According to the Party leadership’s proposals for formulating the 14th Five-Year Plan (2021-2025, FYP) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035, China will uphold the central role of innovation and take self-reliance in science and technology as strategic underpinning for national development, aiming to become a global leader in innovation. 

In such a context, Xi called on Pudong to strengthen its role as an engine of innovation and make breakthroughs in key and core technologies. The district should develop innovative industries in key fields and create world-class industrial clusters in areas such as integrated circuits, biomedicine and artificial intelligence, he said.

Read more:

Officials outline China’s development roadmap at new stage

China unveils blueprint to become global leader in innovation

Pudong should strengthen the dominant role of enterprises in technological innovation and work more closely with other players in the Yangtze River Delta region, he said, calling for breakthroughs in core components and the launch of high-end products. 

He also called on Pudong to initiate reforms in crucial areas and key links and create a market-oriented, internationalized business environment. 

The district should deepen institutional opening-up in rules, regulations, management and standards to enhance its strengths in international cooperation and competition, he said. 

The new Lingang area of the China (Shanghai) Pilot Free Trade Zone, launched last year, should make more efforts in stress testing and achieve breakthroughs in a number of key areas, said Xi.

Role in global resource allocation

It was Xi’s second speech to mark major milestones of China’s reform and opening-up during the past month. In mid-October, Xi visited Shenzhen in south China’s Guangdong Province and attended a gathering to celebrate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone, urging the city to deepen all-round reform and expand opening-up on all fronts. 

Shengzhen and Shanghai have been at the forefront of China’s reform and opening-up over the past decades. The two cities are also homes to the only two stock exchanges on the Chinese mainland, playing irreplaceable roles in resource allocation for the world’s second largest economy. 

As China strives to nurture a new development pattern that takes the domestic market as the mainstay while letting domestic and foreign markets boost each other, the roles of Shenzhen and Shanghai are becoming even more significant. 

Xi called for efforts to improve Pudong’s capabilities in global resource allocation so that it will better serve the establishment of the new development pattern. Pudong should better coordinate resources in domestic and foreign markets and enhance its global influence on mobilizing factors including fund, information, technology, talent and goods, he said. 

Pudong should strive to become a hub of the domestic market and a strategic link of the domestic and foreign markets, he said. The area should also play a leading role in the integrated development of the Yangtze River Delta region, he added.

The president also urged Pudong to establish an international financial-asset trading platform, develop a higher-level headquarters economy and build itself into an important hub of global industrial, supply and value chains. 

Meanwhile, Xi called for modernizing urban governance and building the district into a beautiful home where people and nature coexist in harmony. 

On April 18, 1990, China announced the development and opening-up of Pudong, a less developed area located east of the Huangpu River in Shanghai.  

Pudong’s regional GDP has increased more than 210 times over the past three decades. The district now contributes nearly one-third of Shanghai’s GDP. It is home to over 1,000 financial institutions, over 300 regional headquarters of multinationals and more than 240 foreign-invested R&D centers.

Morning exercises to Dunhuang Dance: What are the students dancing for?

BEIJING, Nov. 6, 2020 — A news report by China.org.cn on China’s radio calisthenics innovation:

 

A video of students in school uniforms "dancing" on the playground has recently gone viral.

This impressive scene takes place in a middle school in Dunhuang, northwest China’s Gansu province. During their morning break, the whole school would do radio calisthenics, and the "Dunhuang Dance" they were doing, is called the "Dance of Beautiful Dunhuang." This original set of exercise incorporates Dunhuang Dance and calisthenics, with different moves for boys and girls. The graceful and gentle moves for girls originate in the classic images of flying apsaras in the Dunhuang murals; while the boys’ moves are more masculine and are inspired by the images of divine warriors. The dance routine has been performed in this school for five years.

Radio calisthenics may be unfamiliar to some. In fact, the exercise originates in western countries. With no special venue or equipment required, this group workout is both easy to learn and suitable for young and old alike. Today, it is still practiced in countries such as Japan and China.

Radio calisthenics first appeared in China in the 1950s. At that time, the country had only recently emerged from war, and both its economy and people’s physical fitness were under-developed. The average life expectancy at the time was less than 40 years. Promoted by the Chinese government, radio calisthenics, which can help people keep fit and is also enjoyable, soon became popular all across the country. Nowadays, although people’s physical fitness in China has greatly improved, radio calisthenics has remained a constant fixture, especially in elementary and middle schools. As students in the same school share the schedule, the morning exercises have become an efficient workout. They not only help students develop a habit of exercising, but also help them "recharge their batteries" during breaks outside of P.E. lessons and sports activities.

Over time, radio calisthenics in China has become more than just a way to improve physical fitness. The Dance of Beautiful Dunhuang in that middle school helps showcase the local culture. In Inner Mongolia, a middle school has adapted Mongolian folk dance into radio calisthenics. And another school in Gansu province performs waist drum dances during its class break. Radio calisthenics has clearly become a new way of carrying forward traditional culture. In addition, radio calisthenics today puts more attention on having fun. Back in 2019, a school principal in Shanxi province taught his pupils to shuffle dance to help more students participate and fall in love with exercise.

Whether it is the Dunhuang Dance, waist drum performance, or shuffle dancing, what remains unchanged under the new forms of radio calisthenics is the great importance China places in helping its people keep fit.

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

Morning exercises to Dunhuang Dance: What are the students dancing for?
http://www.china.org.cn/video/2020-11/06/content_76882791.htm

Bitauto Announces Completion of Merger

BEIJING, Nov. 6, 2020 — Bitauto Holdings Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading provider of internet content & marketing services, and transaction services for China’s automotive industry, today announced the completion of the merger with Yiche Mergersub Limited ("Merger Sub"), a wholly owned subsidiary of Yiche Holding Limited ("Parent"), pursuant to the previously announced agreement and plan of merger, dated as of June 12, 2020 (the "Merger Agreement"), by the Company, Parent and Merger Sub. As a result of the merger, the Company became a wholly owned subsidiary of Parent and will cease to be a publicly traded company.

Pursuant to the Merger Agreement, which was approved by the Company’s shareholders at an extraordinary general meeting on October 23, 2020, each ordinary share of the Company (each a "Share") issued and outstanding  immediately prior to the effective time of the merger (the "Effective Time") has been cancelled and ceased to exist in exchange for the right to receive US$16 in cash without interest, and each outstanding American depositary share of the Company (each, an "ADS," representing one Share) represents the right to receive US$16 in cash without interest (the "Merger Consideration"), except for (a) certain Shares (including Shares represented by ADSs) owned by affiliates of Tencent Holdings Limited, an affiliate of JD.com, Inc., and Mr. Bin Li, chairman of the board of directors of the Company, which have been cancelled in exchange for newly issued shares of Parent, (b) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub, the Company or any of their respective subsidiaries, (c) Shares (including Shares represented by ADSs) held by Citibank, N.A., the ADS depositary and reserved for issuance, settlement and allocation upon exercise or vesting of Company’s options and/or restricted share unit awards, and (d) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which have been cancelled and ceased to exist in exchange for the right to receive the payment of fair value of those dissenting shares in accordance with Section 238 of the Companies Law of the Cayman Islands.

Each registered shareholder immediately prior to the Effective Time who are entitled to the Merger Consideration will receive from the paying agent a letter of transmittal and instructions on how to surrender their Shares in exchange for the Merger Consideration in respect of each Share held thereby, and should wait to receive the letter of transmittal before surrendering their Shares. Payment of the Merger Consideration (less an ADS cash distribution fee of US$0.05 per ADS), without interest and net of any applicable withholding taxes, will be made to holders of ADSs in respect of each ADS held thereby as soon as practicable after Citibank, N.A., the ADS depositary, receives the aggregate Merger Consideration payable to holders of ADSs from the paying agent.

The Company requested that trading of its ADSs on the New York Stock Exchange (the "NYSE") be suspended as of 9:00 a.m. (New York time) on November 5, 2020. The Company requested that the NYSE file a Form 25 with the Securities and Exchange Commission (the "SEC") notifying the SEC of the delisting of its ADSs on the NYSE and the deregistration of the Company’s registered securities. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by promptly filing a Form 15 with the SEC. The Company’s obligation to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will cease once the deregistration becomes effective.

In connection with the merger, Duff & Phelps, LLC and Duff & Phelps Securities, LLC are serving as financial advisor to the special committee of the board of directors of the Company (the "Special Committee"). Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the Special Committee.

BofA Securities is serving as financial advisor to the investor consortium. Latham & Watkins LLP and Kirkland & Ellis are serving as U.S. legal counsel and Hong Kong legal counsel to the investor consortium, respectively.

About Bitauto Holdings Limited

Bitauto Holdings Limited (NYSE: BITA) is a leading provider of internet content & marketing services, and transaction services for China’s automotive industry. Bitauto’s business consists of three segments: advertising and subscription business, transaction services business and digital marketing solutions business.

Bitauto’s advertising and subscription business provides a variety of advertising services to automakers through the bitauto.com website and corresponding mobile apps which provide consumers with up-to-date automobile pricing and promotional information, specifications, reviews and consumer feedback. Bitauto also provides transaction-focused online advertisements and services for promotional activities to its business partners, including automakers, automobile dealers, auto finance partners and insurance companies. Bitauto offers subscription services via its SaaS platform, which provides web-based and mobile-based integrated digital marketing solutions to new car automobile dealers in China. The SaaS platform enables automobile dealer subscribers to create their own online showrooms, list pricing and promotional information, provide automobile dealer contact information, place advertisements and manage customer relationships to help them reach a broad set of purchase-minded customers and effectively market their automobiles to consumers online.

Bitauto’s transaction services business is primarily conducted by its controlled subsidiary, Yixin Group Limited (SEHK: 2858), a leading online automobile finance transaction platform in China, which provides transaction platform services as well as self-operated financing services.

Bitauto’s digital marketing solutions business provides automakers with one-stop digital marketing solutions, including website creation and maintenance, online public relations, online marketing campaigns, advertising agent services, big data applications and digital image creation.

For more information, please visit ir.bitauto.com.

Safe Harbor Statement

This press release contains statements that express the Company’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Act"). These forward-looking statements can be identified by terminology such as "if," "will," "expected" and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions. Risks, uncertainties and assumptions include: uncertainties as to how the Company’s shareholders will vote at the meeting of shareholders; the possibility that competing offers will be made; the possibility that financing may not be available; the possibility that various closing conditions for the transaction may not be satisfied or waived; and other risks and uncertainties discussed in documents filed with the SEC by the Company, as well as the Schedule 13E-3 transaction statement and the proxy statement filed by the Company. These forward-looking statements reflect the Company’s expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:
Suki Li
Bitauto Holdings Limited
Phone: +86-10-6849-2145
ir@bitauto.com

Philip Lisio
Foote Group
Phone: +86-10-8429-9544
bitauto@thefootegroup.com

Related Links :

http://ir.bitauto.com