China-CEEC Investment & Trade Expo To Boost Bilateral Trade
The upcoming Third China-CEEC Investment and Trade Expo (China-CEEC Expo) is expected to boost bilateral trade between China and the Central and Eastern European (CEE) countries. Jointly organised by China’s Ministry of Commerce and the Zhejiang provincial government, the five-day event begins on June 8 in Ningbo, Zhejiang province and will be held simultaneously with the 19th China Zhejiang Investment & Trade Symposium as well as 16th China International Consumer Goods Fair. The organisers said the event would feature various activities, including conferences, forums, exhibitions and cultural exchanges.
Singapore falls in global rankings of most expensive cities for expatriates.
According to ECA International’s latest Cost of Living survey, Singapore is now the 24th most expensive location in the world for expatriates, falling from 18th place last year. ECA International is the world’s leading provider of knowledge, information and software for the management and assignment of employees around the world. To ensure that an employee’s spending power is maintained when they are sent on international assignment, a cost of living allowance is often provided as part of the pay package. This allowance will be affected by differences in inflation levels as well as exchange rate movements between the employee’s home and host countries.
Other key takeaways from the survey include:
- Singapore remains unmoved in regional rankings, retaining its 10thplace
- Hong Kong is the Asia Pacific’s most expensive location for expatriates – its highest regional and global position since ECA’s rankings began
- Cities in Taiwan are now among the most expensive in Asia Pacific for expatriates
- All ranked Malaysian locations have fallen in the global rankings this year
Australia’s economy marks record 26 years without recession
Australia marked a world-record 26 years without a recession, as the economy grew 0.3 per cent in the first-quarter. The Australian Bureau of Statistics put the annual rate of growth at 1.7 per cent, down from 2.4 per cent in the previous three months. Australia last recorded two negative quarters of economic growth in March and June 1991, before enjoying 103 quarters without a recession to equal the record set by the Netherlands. Economists said the country’s long stretch of expansion was supported by economic reforms in the 1980s and 1990s, such as the floating of the local currency, a flexible labour market, financial sector and capital markets deregulation and lower tariffs.