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Davos 2019 | World Economic Forum

Posted by: Mathilde Veyrat
Category: Economy & Trade
World Economic Forum
As the first month of 2019 is reaching its end, the first and foremost event on the calendar is being carried out in full swing.
The World Economic Forum, founded in 1971, is a perfect stage for leaders and elites across all walks of life to come together to discuss the most pressing issues on the global agenda and find out solutions to the world’s most urgent economic and social challenges.
In 2019, as important changes and great upheavals are taking place around the globe, Davos is being held as scheduled, under the theme of Globalization 4.0.
Curious about the latest development and the heated topics of the WEF? Keep on reading to learn more!
 
Take a look at some of our previous posts: China’s Seven Priority Areas for Economic Work in 2019

Participants

Under the theme of Globalization 4.0, the 49th World Economic Forum will gather about 3,000 representatives and experts from governments, international organizations, business and media communities and other sectors to participate in more than 400 discussions.
US President Donald Trump, British Prime Minister Theresa May and French President Emmanuel Macron are absent from the forum due to their intricate domestic affairs.
Chinese delegation took the center stage on this international event, with strong speeches delivered by political leaders, business magnates and other trailblazers.
Here outlines common themes about China being discussed at the World Economic Forum’s annual meeting.

Themes

In its latest World Economic Outlook, the IMF forecasts that the global economy would grow 3.5 % in 2019 and 3.6 % in 2020, 0.2 and 0.1 % lower than its forecasts in October respectively.
“The world economy is growing more slowly than expected, risks are rising and the expansion seen in recent years is losing momentum.”, said IMF Managing Director Christine Lagarde at the forum, calling for policymakers to collaborate to address global risks.
However, the IMF maintained its China economic growth forecasts while trimming global growth projection. China’s economic growth is projected to be 6.2 percent for 2019, the same as the IMF’s previous prediction in October. Domestic demand is also estimated to remain robust, in part reflecting resilient consumption.
Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, gives off several signals on future reform of capital markets at the forum. A share market will see the changes below:
  • Science and technology innovation board is estimated to come on stage in the first half year of 2019 and the quicker, the better.
  • Policies related to the abolition of the first-day limit on the rise and fall of new shares is in research in order to prevent speculators buying and selling stock blindly.
  • Further liberalization of stock index futures will be launched as soon as possible with the intention to enhance transaction activity promote the development of capital market.
From Asia to Europe, from South America to North America, Huawei has conducted business in 170 countries around the world, signed 30 commercial 5G contracts, and delivered more than 25,000 5G base stations worldwide.
  • 170 Countries
  • 30 Commerical 5G Contracts
  • >25,000 5G base stations
Ken Hu, deputy chairman and rotating chairman of Huawei, made the remarks during a discussion titled “Strategic Outlook on the Digital Economy” at the World Economic Forum Annual Meeting.
Ken disclosed that mobile phones with the fifth generation (5G) communication technology will be hit the market in June.
JD stresses sustainability in e-commerce development.
  • introducing reusable boxes made from biodegradable materials;  going digital for documents; reducing tape to seal boxes;
  • has launched a recycling program for used items to reduce waste and alleviate poverty.
      
Alibaba wants to bring e-commerce to everyone in the developing world.
  • has built an eWTP(Electronic World Trade Platform)to facilitate tariff-free trade and help small businesses and young people more easily participate in the global economy.
In recent years, the globalization process of Alipay has accelerated, and it has been continuously replicated. So far, nine overseas “Alipay” have been born. On January 9, Alipay announced that it had more than 1 billion users worldwide.
Mobile payment giant Alipay has granted admission to its platform to merchants in Davos. Alipay is available in around 80% of stores at Davos.
Roland Palmer, the head of Alipay in Europe, said the full integration of Alipay into the small town of Davos is not only to serve the Chinese people attending the conference, but also to present China’s mobile payment to the world.

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Author: Mathilde Veyrat