📌Creating Green Supply Chains: Sustainable Logistics Leading the Charge
💙Good to know🧡
Hong Kong, China
🔹Hong Kong's first green loan for logistics sector, worth US$1.13 billion, will finance cold storage facility in Kwai Chung
☑ ESR Group, a real estate services and investment company, and property firm Chinachem Group have secured Hong Kong's first green loan for a logistics facility, worth HK$8.8 billion (US$1.13 billion).
☑ The five-year loan will finance the construction of the Kwai Chung Cold Storage Logistics Centre. The seven-storey facility, to be constructed on a 55,245 square-metre site, will be the biggest cold storage unit to be built in the city in two decades.
🔹China Gives Rare Show of Support to Stressed Developer Vanke
☑ After letting two of the world’s biggest property developers plunge into default, Chinese authorities are attempting to save a third industry giant from following suit.
☑ China Vanke Co., the country’s second-largest builder by contracted sales, received an unusually strong show of support from officials in its hometown of Shenzhen on Monday — following a dollar-bond plunge that made Vanke Asia’s worst investment-grade performer last month. Its notes climbed as much as 4 cents Tuesday after some surged a record 12 cents a day earlier. Still, several of them remain at distressed levels of below 80 cents.
🔹Guangdong Residents Can Soon Drive to Hong Kong
☑ In a development bound to excite many, residents of Guangdong will soon have the option to drive to Hong Kong, scheduled to roll out early next year.
☑ Currently, the most common means of travel from Guangdong to Hong Kong involve buses, high-speed rail, ferries, and even the subway.
☑ The Hong Kong Special Administrative Region government has recently revealed that the 'Guangdong Private Cars Coming to Hong Kong' trial scheme is under consideration.
🔹China – Central Asia Trade “Can Reach US$100 Billion” – Kazakhstan Prime Minister
☑ The volume of trade between China and the Central Asian nations will amount to US$100 billion by 2030. This is planned to be achieved by expanding the trade range, as well as simplifying administrative procedures, said Prime Minister of Kazakhstan Alikhan Smailov at the China International Import Exhibition (CIIM) in Shanghai.
☑ Last year, trade between China and Central Asia amounted to US$70 billion, of which 45% was with Kazakhstan. According to Smailov, over 10 years, the total volume of trade turnover between China and countries located along the Belt & Road Initiative reached US$19.5 trillion, and the total volume of investments reached US$380 billion.
🔹China’s truck industry is buying more driver-assist technology
☑ China’s truck industry is finding more reasons to buy vehicles with assisted-driving technology.
☑ It’s a critical step toward monetization in a nascent business that’s drawn many investor dollars, with relatively little to show for it so far.
☑ One broad transformation is that the trucking industry in China is changing from one in which individual drivers dominated, to one with fleets holding the majority share, said Gui Lingfeng, principal at Kearney Strategy Consultants.
🔹Chinese firms aspire to expand business networks at Egypt's transport expo
☑ Egypt's international transportation exhibition has witnessed enthusiastic participation from Chinese companies, which are eager to take part in the transport development in the Middle East, especially in Egypt.
☑ The fifth Smart Transport, Logistics, Infrastructure, and Traffic Fair and Forum for the Middle East and Africa was held in New Cairo from Nov. 5 to 8 with the sponsor of Egypt's Ministry of Transport.
☑ China's Qingdao Haixi Heavy-Duty Machinery Co., Ltd also coveted the expo's potential regarding port terminal construction.
🔹Vietnamese businesses have opportunities for Halal food exports
☑ Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan said that since the beginning of the year, the city has implemented programs with an orientation toward the development of the Halal industry associated with production, green consumption and sustainable export, especially in the food sector - one of the city's four key industries.
☑ In addition, the city is accelerating the development of supporting and logistics industries such as logistics, warehousing, and building more service complexes that meet Halal standards to serve the Muslim population. Thus, the roadmap to support businesses in exploiting the Halal market is available. What businesses need to do is they should proactively convert and focus on production to exploit the trillion-dollar Halal food market effectively.
🔹Is it true that exports are rebounding?... ‘Trade deficit for the first time in 30 years’, China’s slump is ‘homework’
☑ China is known as Korea's main export country. The trade balance with China, which had always recorded an annual surplus since 1992, has been faltering since last year. As exports of high-tech products such as semiconductors and displays have decreased significantly, the trade deficit with China continues to grow.
☑ According to the Ministry of Trade, Industry and Energy, exports to China last month were $10.996 billion (KRW 14.5477 trillion), while imports were $12.548 billion (KRW 16.601 trillion). Accordingly, the trade balance recorded a deficit of $1.552 billion (2.0533 trillion won).
☑ The record trade deficit with China, which has been running since October last year, has continued for 13 consecutive months. In fact, China is Korea's main export country and has consistently recorded an annual trade surplus since 1993. However, the trade deficit has grown rapidly this year.
🔹Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow
☑ Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered business, according to people familiar with the matter.
☑ The improbable effort would require the Treasury Department to defer repayment for several years of a $700 million loan provided to Yellow under a Covid pandemic-era bailout, one of several debts that helped push one of the country’s biggest truckers into collapse earlier this year.
Source: Wall Street Journal
🔹'Logistics sector needs a fillip’
☑ Bangladesh would have to go a long way to raise its logistics sector up to the level of that of comparator countries such as India and Vietnam, said a top industry official.
☑ Md Miarul Haque, managing director of DHL Express Bangladesh, says it is good to see Bangladesh improving in the overall LPI (Logistics Performance Index) of the World Bank from a ranking of 100 in 2018 to 88 in 2023.
Source: Daily Star