Asian Infrastructure Investment Bank & Shanghai Metal Corporation – Common Goal & Vision

We are pleased to share the latest news about China’s contribution in assisting developing countries in their sustainable growth.

The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank, proposed by the government of China, that has the mission to give assistance to financial needs to infrastructure projects in Asia region.

The signing ceremony of the Memorandum of Understanding on Establishing Asian Infrastructure Investment Bank (AIIB) in Beijing
Photo from en.people.cn

The establishment of this bank is partly due to the huge infrastructure needs across the developing countries in Asia. The Asian Development Bank (ADB) estimates that Asia will need approximately 8$ trillion between 2010 and 2020 for energy, transportation, telecommunication and water/sanitation. Summing the investments from all existing institutions aren’t enough to reach that amount and the shortfall exceeds 700$ billion a year.

Photo from fastcompany

Other than its purpose as a funding institution, the AIIB is also a modern knowledge-based institution, focusing on the development of infrastructure and other productive sectors in Asia, such as energy & power, transportation & telecommunication, water supply & sanitation, etc.

Until the 2nd April 2015, almost all Asian countries and major countries outside Asia has joined the AIIB, except US, Japan, Canada and North Korea. Catherine Novelli, U.S. undersecretary of state for economic growth, energy and the environment, said that the administration generally supports the AIIB’s stated goals but has concerns over regulation and environmental issues. Other worries that the bank will help China to rival the US as the world’s economic power and in establishing its values in the world’s vision.

China's President Xi Jinping (L) walks next to U.S. President Barack Obama (R) (Reuters/Jason Lee)Photo from rt

According to Raj M. Desai, associate professor from Georgetown University, the participation of the US in the AIIB could encourage the Chinese to implement a transparent regime that adopts the world’s best practice in financing infrastructure. The President of World Bank, Jim Yong Kim, welcome AIIB and believes that the activities of a new organization can greatly help the massive need of investment in infrastructure.

Chinese Premier Li Keqiang (R) shakes hands with World Bank Group President Jim Yong Kim during their meeting in Beijing, July 8, 2014. REUTERS/China Daily
Chinese Premier Li Keqiang (R) shakes hands with World Bank Group President Jim Yong Kim during their meeting in Beijing, July 8, 2014.
Photo from reuters

As one of the world’s leading steel manufacturer, Shanghai Metal Corporation believes that sustainable growth improves the quality of life for everyone, now and for generations to come.  That’s why we put great efforts to meet the demand for steel in an eco-friendly way. We support AIIB’s mission and values in supporting Asia’s infrastructure project in a “lean, clean and green” way. We have faith that AIIB can help to support the growth of the developing countries and give them assistance in their infrastructure development.

Sources: theguardian, cnbc, washingtonpost, aiibank, wikipedia
Featured Image: nytimes

    

 

Ayu P.//SMC Editor

 

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4 Strange Stockpiling Panics

Stockpiling panics can be triggered by the smallest of market shocks. Maybe a news report causes it, an unexpected price change, or word of mouth, but once the panic sets in chaos ensues. Each country has seen its own stockpiling panic, like raw materials, power, food and water. But the following countries have been a little more creative with their stockpiling choices.

Japan – Toilet paper

japanstockpiling

Japan’s bureaucrats don’t want the nation to be caught with its pants down the next time toilet paper supplies run short after a natural disaster.

That’s why the government is rolling out its latest public-awareness campaign, entitled “Let’s Stockpile Toilet Paper,” which involves an exhibition on the topic at the trade ministry, a summit of industry leaders and the sale of specially packaged “emergency use” toilet tissue.

USA – Sick Days

sickdayDue to loopholes in the employee benefit package, government employees of the USA are eligible for 2,164 sick days that they are eligible to draw from according to figures requested from the auditor’s office.

China – Cabbage

chinacabbagestockpile

In Beijing especially, there are the piles of cabbage that accrue in communal courtyards, high-rise hallways and window ledges across the city. This has been common practice since the 1960’s industrialization to get people through harsh winters that may hinder food production.

Singapore – Sand

Singapore, the artificial beach of the Sentosa island

Some countries have strategic oil reserves; others stockpile rice or wheat. The island nation of Singapore has emergency reserves of imported sand. The government is now being forced to tap its sand hoard after its usual supplier, Indonesia, abruptly banned exports in February in a string of disputes between the two countries.

 

Currently, Raw material surcharges are spurring stockpiling of stainless steel and nickel across the globe. Finland’s Outokumpu OYJ (OUT1V), Germany’s ThyssenKrupp AG and Aperam SA (APAM) in Luxembourg all reporting boosts in deliveries.

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So, why not beat the stockpiling surge and invest in nickel and stainless steel today? Shanghai Metal Corporation manufactures an array of value-added Metal ProductsBuilding SystemsShipping Containers, and Machinery. We are committed to delivering quality to businesses as an integrated global manufacturer, exporter, and supplier with offices and subsidiaries located throughout Asia, Europe, and the Americas. To find out more, please visit our websiteLinkedInTwitter, Facebook and Instagram. Or you could try our new mobile app by scanning our QR code.

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