This survey of 1,103 executives and specialists in Hong Kong reveals that nearly 40% of company managers intend to change jobs in the first half of this year. Furthermore, the survey indicates that 74% of executives who successfully changed jobs in 2023 received a salary increase, with an average raise of 17.08%. In contrast, most individuals who remained in their current positions saw salary increases ranging from only 3% to 5%.
In 2023, the total economic output of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) surpassed 14 trillion yuan (approximately $1.97 trillion), marking it as one-ninth of China’s total, despite occupying less than 0.6% of the national land area. Zhu Wei, Executive Deputy Director of the GBA Office in Guangdong, noted that the GBA’s economic output was 10.8 trillion yuan in 2018 and has increased by 3.2 trillion yuan over the past five years.
Geopolitical conflicts and crises detrimental to rail transportation and the economy have. underscored the importance of the Belt and Road Initiative (BRI) more than ever. Vienna, May 27 (Xinhua) — The CEO of the Austrian Federal Railways (OeBB) stated that the BRI provides stability to people and trade routes. Andreas Matthä, in a recent interview with Xinhua, added, Geopolitical conflicts and crises that are detrimental to rail transport and the economy have made BRI “even more important”
According to experts at the International Monetary Fund, China’s economy is expected to achieve a resilient growth rate of 5 percent this year, which is faster than previous forecasts. However, the country still requires increased support for the real estate sector and monetary facilitation due to ongoing downside risks.
The Ministry of Commerce of China announced on Friday that China, Japan, and South Korea are set to engage in further discussions aimed at accelerating negotiations towards a comprehensive, high-level, mutually beneficial trilateral free trade agreement. Hua Chunying, spokesperson for the ministry, stated during a press conference that the objective is to achieve a comprehensive trade pact based on principles of freedom and fairness, encompassing mutual benefits and shared values.
On Friday, the Ministry of Commerce of China announced that China will implement export controls on certain formats, equipment, software, and technologies in the aerospace and maritime sectors, as well as items related to high-molecular-weight polyethylene fibers. According to a statement released online by the ministry, this policy will officially take effect from July 1st.
This year marks the 30th anniversary of German automaker BMW AG entering the Chinese market. On May 8th, the six-millionth vehicle produced by BMW Brilliance Automotive rolled off the production line. Many foreign automakers have doubled their investments in China: Volkswagen AG has established its largest research and development center outside Germany in China, focusing on research into smart connected vehicles. Tesla’s Gigafactory in Shanghai has become the company’s primary export hub globally, accounting for more than half of its global production capacity in 2023.
renminbi has increasingly emerged as an international currency, widely used in cross-border commercial settlements. However, this trend still faces prominent challenges such as partners’ reluctance to accept Chinese currency and the complexities of policy.
Shenzhen – Chinese NEV giant BYD has unveiled its fifth-generation dual-mode hybrid technology DM for plug-in hybrid electric vehicles with a comprehensive driving range of 2,100 kilometers. With this technology, BYD’s plug-in hybrid vehicles can lead globally in key performance metrics, achieving a thermal efficiency of 46.06%, fuel consumption of 2.9 liters per 100 kilometers even under low power conditions, and offering a wide range of full-electric driving capabilities.
