SINGAPORE, Nov. 9, 2023 /PRNewswire/ — Next New World Pte. Ltd., in collaboration with The Food Innovation and Resource Centre (FIRC), have validated the shelf-life extension of delicate fruits and vegetables (Bananas and Avocados) by an average of 1.5 times. This feat has been made possible through our patented method of producing porous protein silk solution.

Our technology addresses a critical challenge in the food industry – the need to prolong the freshness of perishable produce. This allows for a longer preservation of fruits and vegetables on the shelves of supermarkets and other retail stores.

We are excited to commercialize our solution- a natural preservative, and make it available to a wider market. By extending its application to a variety of fruits and vegetables, we aim to revolutionize the preservation of a broad range of food products.

Next New World plans to collaborate closely with retailers, distributors, collection centres, and producers to further refine and expand the use of organic silk material (certified by the global organic certification authority GOTS) to develop Japan’s first (Made in Japan) coating preservative. Together, we will work towards reducing food loss and minimizing plastic waste in the food industry.

Our solution is a unique natural raw material, the first of its kind in Japan, that has been liquefied using our proprietary patented technology while achieving sustainability.

About Porous Protein Silk Solution

Porous protein silk solution is a water-based solution extracted from silk, which contains artificially synthesized porous proteins with nano-level structures. This structure allows the solution to adsorb various substances. The solution has various effects and benefits, such as antioxidant properties. The structure can also be transformed into a gel-like, membranous, or solid form.

In one example, when consumed as a supplement by pets or humans, the solution can absorb various substances and eliminate them from the body. This may potentially lead to health improvement by reducing cholesterol levels and promoting urea excretion.

Supplements utilizing this effect are being used for the prevention of kidney disease in cats and are widely available in Japan. Research is being conducted with the future goal of expanding its use for humans. Additionally, the use of this solution in cosmetics with moisturizing properties, antioxidant effects, and UV protection is being demonstrated in other Asian countries.

spec of silk fibroin

About this Collaborative Research

Collaborative Research Period: May, 2023 ~ Jul, 2023

Target Produce: bananas, avocados

Research Method: We divided the samples into two groups – one with a porous protein silk solution coating and one without – and measured the degree of decay (changes in measurement values) of the target produce over time using the following measurements.

Measurements: outer color, inner color, firmness, pH, respiration rate

Outer color, inner color: Over time, the color of the produce with the silk solution coating was relatively protected from oxidation.

Respiration rate: Compared to the control group of avocados, the respiratory rate and deterioration slows down. This indicates that SF works as edible coatings which limit gas stream of O2 and production of CO2, furthermore retains moisture within the fruits.

Market Outlook

The same preservatives are expected to extend the shelf life of fruits and vegetables such as bananas and avocados. In the future, we will expand our reach beyond the main produce items and aim to reduce food loss by introducing our products to various food items in the medium to long term.

In 2021, the amount of food loss in Singapore reached 817,000 tons. Starting with Singapore and Japan, we will continue to expand into the Asian market and further into the global market.

If our products contribute to the reduction of plastic wrap and bags, it is expected that there will be an increase in use cases in the market, leading to a wider range of applications.

About NEXT NEW WORLD

NEXT NEW WORLD Pte. Ltd. is based in Singapore and, together with NEXT NEW WORLD Inc. in Japan, aims to tackle various global challenges using natural materials. The protein solution derived from silk has the potential to be used not only as a preservative but also in cosmetics, supplements, and pharmaceuticals. With the aim of future expansion in various industries, we are collaborating with Yellow Biotechnology, Fraunhofer, and Japanese universities.

We have a partnership with a sericulture farm in Gunma Prefecture, Japan, where we cultivate 2,000 mulberry trees and use it as a lab for the development of our water solutions.

Yellow Bio：

Yellow biotechnology is the development and application of biotechnological methods to translate insects, their molecules, cells, organs or associated microorganism, respectively, into products or services for specific use in medicine, agriculture or industry.

Fraunhofer:

The Fraunhofer-Gesellschaft, based in Germany, is the world’s leading applied research organization. By prioritizing key technologies for the future and commercializing its findings in business and industry, it plays a major role in the innovation process. A trailblazer and trendsetter in innovative developments and research excellence, it is helping shape our society and our future. Founded in 1949, the Fraunhofer-Gesellschaft currently operates 76 institutes and research units throughout Germany. Around 30,800 employees, predominantly scientists and engineers, work with an annual research budget of roughly €3.0 billion, €2.6 billion of which is designated as contract research.

About FIRC

The Food Innovation and Resource Centre (FIRC) is a joint initiative between Singapore Polytechnic and Enterprise Singapore. FIRC focuses on working with industry partners to provide food enterprises with holistic technical solutions in food product development including packaging, shelf-life evaluation, market testing and automation.

Next New World Pte Ltd collaborated with students of Singapore Polytechnic under the supervision of Food Innovation & Resource Centre’s (FIRC) Food Technologist in their final year project to validate the use of Silk Fibroin Protein in the shelf life extension of various tropical fruits.

Inquiry Regarding this Matter

Our company is seeking business partners who can utilize the same solution to extend the shelf life of fresh produce, vegetables, and seafood, as well as contribute to solving food loss issues.

Source : Next New World announces shelf-life extension validation for delicate fruits and vegetables

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BEIJING, Nov. 9, 2023 /PRNewswire/ — The 2023 World Internet Conference (WIC) Wuzhen Summit kicked off on Wednesday in the ancient water town of Wuzhen, East China’s Zhejiang Province, where global cyberspace luminaries are set to discuss internet industry-related topics and provide insights on addressing the most pressing global cyberspace challenges – ranging from artificial intelligence (AI) governance, cyberspace hegemony to the widened digital gap – at the three-day monumental gathering.

The summit, marking its 10th anniversary this year, is an impressive showcase of the vibrancy of China’s internet economy, which reportedly has expanded five times in the past decade. The milestone moments of the Chinese internet industry and knock-out tech products are on display in the exhibition hall, underscoring China’s phenomenal lead in the tide of global digitalization and the pivotal role the sector has played in propelling global economic growth.

Chinese President Xi Jinping addressed the 2023 WIC Wuzhen Summit via video on Wednesday.

In his speech, Xi stressed that the international community needs to deepen exchanges and practical cooperation to jointly advance the building of a community with a shared future in cyberspace to a new stage. He called for prioritizing development to let the fruits of internet development benefit more countries and more people, the Xinhua News Agency reported.

Calling for building a more peaceful and secure cyberspace, Xi stressed the need to respect cyber sovereignty and each country’s way of internet governance and the need to oppose seeking hegemony and bloc confrontation.

Xi called for building a more equal and inclusive cyberspace. He stressed the need to better promote the shared values of humanity.

Participants highlighted the "open, inclusive and equal" approach the summit has been delivering for 10 consecutive years. They noted that it mirrors the call from China that as a responsible major power, building a community with a shared future in cyberspace promotes common development.

This year, representatives from over 100 countries and regions gathered at the three-day summit themed "Creating an Inclusive and Resilient Digital World Beneficial to All – Building a Community with a Shared Future in Cyberspace." Participants include Chinese tech behemoths such as Baidu, Alibaba, and Tencent, as well as Russian cybersecurity firm Kaspersky, US company IBM and Indian software company Infosys.

There is an air of palpable excitement among representatives, with foreign delegates enthusiastically updating themselves about the new, state-of-the-art avant-garde gadgets developed by Chinese firms.

Jahogir Nasirov, a professor from Russia-Tajik Slavonic University, said that he is eager to "see more innovations at the summit and bring back to my country, Tajikistan." It is the first time that Nasirov attended the summit.

"We can see that China is developing very fast in internet and other related industries. The usage of AI has been really effective [in China]… So it will be good for other communities [to learn some experiences] and draw some practices from China," Nasirov told the Global Times on Wednesday.

Fan Yuan, chairman of Anheng Information Technology Co, his 10th time at the summit, told the Global Times on Wednesday that the event is the first large in-person international industry occasion after three years of the COVID-19 pandemic, and he feels delighted to meet with a number of foreign peers on the sidelines of the summit to exchange views on trending tech topics.

Call for more international cooperation

At the Light of Internet Expo, a side event of the 2023 WIC Chinese companies, the applications of AI algorithms and AIGC (AI generated-content) products are in the limelight, from interactive digital humans, medical treatment, clothing design and quality scrutiny to scenarios in people’s daily lives. Throngs of tech-savvy visitors are lining up to take a fresh bite at the latest tech breakthroughs, the Global Times noticed on the spot.

Global attendants said the summit is being held at an important juncture as global cyberspace is confronted with a new round of challenges amid the fierce global tech race. These include global security concerns brought about by the fast development of AI, tech wrestling and inequality in internet development.

"We need a platform, with an international perspective, to build trust and reach more global consensuses in both technological and mechanical fronts… That would lead to more technological innovation to the benefit of all countries and regions," Fan said.

China’s proposal to build a community with a shared future in cyberspace echoes the call of the time, and shows the country’s responsibility to facilitate global tech cooperation, analysts said. 

China’s reasoning is one that promotes "extensive consultation, joint contribution and shared benefits." This is truly needed for the world at this moment, especially considering that a rising major power has gained a technological advantage but insists on its original aspiration to consult, construct and share with other members of the international community and guide the future internet and AI governance, Shen Yi, deputy director of Fudan University Cyberspace Research Center who is also attending the conference, told the Global Times on Wednesday.

"Building a community of a shared future equates to constructing an open, inclusive and safe cyberspace environment. China’s development of the internet and the digital world is at the forefront of the world, so the country is set to play a more pivotal role in promoting global cooperation and bridging the digital divide," Wu Yunkun, president of QI-ANXIN Technology Group Inc, told the Global Times.

Take AI governance, a heated global topic, as an example.

China is a leading player in drafting AI regulations. The country has rolled out multiple measures this year that coordinated the sound development of the AI sector while safeguarding national security. It also launched the Global AI Governance Initiative in October, stressing fairness and nondiscrimination in AI development. 

AI-related issues need to be coordinated in the international arena and developed in harmony. There are differences between stakeholders in different countries, and it is hoped that the 2023 WIC will work out "an optimal balance of regulation that is in synergy with national preferences," Normann Witzleb, an associate professor at the Faculty of Law of the Chinese University of Hong Kong, told the Global Times on Wednesday.

This year, the 2023 WIC will organize 20 sub-forums on a wide range of hot issues, a number of which put extensive emphasis on AI development, related industries and cooperation. A report on developing a responsible generative AI ecosystem will also be issued on Thursday.

A 10-year boom

A bluebook for the WIC was released on Wednesday, which showed that China’s internet development ranks second in the world after the US. Internet application in certain less-developed countries participating in the Belt and Road Initiative (BRI) also recorded a relatively high growth rate, according to the report.

Wuzhen, the water town, is an epitome of the fast-lane development of China’s internet industry, and of its amassing contribution to the world economy, in particular to the developing countries.

"It’s like traveling by a time machine," said Zhou Hongyi, founder and chairman of 360 Security Technology. Zhou, participating at the forum for the 10th consecutive year, told the Global Times that the rapid rise of China’s internet sector, as well as the population dividends, has helped cultivate a large number of globally competitive Chinese companies like 360.

In 2014, when the first edition of the Wuzhen Summit was inaugurated, products like smart wearable devices and autonomous vehicles were a market hit, attendees said. One decade later, those products are visible everywhere, reflecting the sky-high growth rate at which the sector has been advancing.

Liu Dingding, a Beijing-based tech analyst, told the Global Times on Wednesday that China has definitely championed the global digitalization streak in the past decade, and that in turn has not only drastically driven development in the world’s second-largest economy, but also fueled development dividends across the world. And that still carries great significance amid lingering uncertainties and a global economic slowdown.

From 2012 to 2022, the scale of China’s digital economy jumped from 11 trillion yuan ($1.51 trillion) to 50.2 trillion yuan, with internet application, the number of netizens and AI development leading the world, Xia Xueping, president of the China Cyberspace Research Institute, said at the summit.

Entrepreneurs noted that compared with 10 years ago, the responsibility of Chinese internet companies has seen a major shift, and the internet economy is progressing in a more regulated and sound way.

"From the perspective of a Chinese company, we were talking about user traffic a decade ago. But now, we focus on hardcore and bottlenecked technologies, and are refining our role in the country’s industrial upgrade," Zhou noted.

Source : Global Times: Wuzhen Summit kicks off at 10th anniversary, highlighting China's role in building a community with a shared future in cyberspace

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DENVER, Nov. 9, 2023 /PRNewswire/ — Pioneering the future of aerial mapping, ROCK Robotic today announced the launch of the ROCK 50 plan, a groundbreaking offer providing six months of free LiDAR processing to DJI Zenmuse L2 customers. This exclusive promotion is available to clients purchasing through qualifying distributors and celebrates the launch of ROCK Robotic’s new service website, freelidarprocessing.com.

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The DJI Zenmuse L2 has set a new standard in LiDAR technology, boasting a 66% improvement in IMU performance and heightened accuracy – now at 2 cm at a distance of 150 m. To complement this advanced hardware, ROCK Robotic introduces the ROCK cloud, a processing platform designed for speed, simplicity, and accuracy, perfect for hosting, processing, and sharing LiDAR data projects.

The ROCK 50 plan offers unlimited storage and processing for areas up to 50 acres, allowing users to generate precise ground classifications, contours, and topographic surface models effortlessly. "With the ROCK cloud’s ability to align data to ground control points, reproject into local projections, and offer manual classification with live support, it’s unmatched in the industry," stated Harrison Knoll, ROCK Robotic’s CEO.

ROCK Robotic’s commitment to excellence extends beyond software. The ROCK Processing Service connects clients with LiDAR experts for personalized data analysis and deliverable creation, ensuring quality and reliability. The service includes detailed 3D and 2D planimetrics, power line analysis, and bulk rates for large-scale projects, assuring that no project is too complex.

"By pairing our sophisticated ROCK 50 plan with the DJI Zenmuse L2, we are making LiDAR processing more accessible and efficient for professionals in the field," Knoll added. "ROCK Robotic is at the forefront, ensuring our clients are equipped with the best tools to succeed in their LiDAR journey."

For more information and to take advantage of the six months free LiDAR processing offer, visit www.freelidarprocessing.com.

About ROCK Robotic:

ROCK Robotic is an innovator in the LiDAR industry, offering cutting-edge hardware and software solutions for 3D mapping. With a focus on accessibility and user-friendliness, ROCK Robotic empowers survey and mapping professionals with technology that’s ahead of the curve, backed by a support team dedicated to their clients’ success.

Contact Information:
Vincent Aurand
(323) 892-6622
[email protected]

Experience the precision of the DJI Zenmuse L2 and unlock the potential of LiDAR with our exclusive six-month free processing offer at freelidarprocessing.com.

Navigate the future of LiDAR with ROCK Cloud: Fast, Accurate, Scalable – The interface that redefines mapping efficiency.

Source : ROCK Robotic Announces ROCK 50 Plan: Free LiDAR Processing for DJI Zenmuse L2 Customers

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Ex-Blackstone Asia Partner and former Better executive launch mortgage asset management and technology platform in Asia

SINGAPORE, Nov. 9, 2023 /PRNewswire/ — LXA, a technology startup focused on reimagining Asia’s mortgage ecosystem, today announced the completion of its US$10 million seed funding round led by New Enterprise Associates, Inc. (NEA), with participation from Openspace Ventures and EDBI. Geared towards matching institutional capital pools and residential mortgage borrowers, this platform aims to utilize end-to-end technology to streamline the entire mortgage lifecycle, from loan origination and borrower processing to loan servicing.

LXA was founded in early 2023 by seasoned executives across the asset management, insurance, mortgage, and technology industries to bridge the gap between mortgage assets and institutional capital in Asia, beginning with Singapore. Combining best practices from North American and European markets with a proprietary technology platform focused on digital credit decisioning and intelligent workflow orchestration, LXA provides the first of its kind solution to address strong demand from Asian insurers and borrowers for differentiated mortgage products. 

Founded by Kishore Moorjani, the company’s Chief Executive Officer, and by Shawn Low, the company’s Chief Operating Officer, the LXA team brings proven experience across a breadth of disciplines to the mortgage-based asset management industry. Mr. Moorjani has over 25 years of experience investing in the region, most recently as Blackstone’s Senior Managing Director and Head of Tactical Opportunities in Asia. Mr. Low was COO of Better, where he played an instrumental role in the transformation of the mortgage platform from its pre-revenue days to over $800 million in revenue and $150 million in profitability.

"We founded LXA to create an institutional channel for the large capital pools of insurance, pension funds, sovereign funds, and endowments to access the highly desirable local currency mortgage asset class," said Kishore Moorjani, CEO of LXA. "Our technology platform is designed to create value for all stakeholders involved in the mortgage ecosystem. With our world-class executive team, support from top-notch investment partners and strong technology foundation, we are excited about bringing this innovation to Asia. Beyond being good business and highly customer-centric, this has the potential to drive economic growth and prosperity in Asia."

Andrew Schoen, Partner at NEA, said, "We believe Kishore and Shawn’s visionary approach, experienced leadership, and commitment to innovation towards developing a modern mortgage platform is a game-changer. As Asia’s first modern mortgage asset manager, the LXA team has figured out how to coordinate the complex web of people, processes, and systems to create long-term change and drive significant economic value."

About LXA

LXA is a Singapore-based fintech company that is unlocking non-depository capital for the Asian mortgage market. The company’s technology platform revolutionizes the mortgage industry by streamlining loan origination, processing, underwriting, and servicing. Founded by Kishore Moorjani and Shawn Low, LXA is poised to reshape the mortgage landscape throughout the Asian market.

Contact:
Asad Hassanali
[email protected]

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has over $25 billion in assets under management, as of March 31, 2023, and invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of investing includes more than 270 portfolio company IPOs and more than 450 mergers and acquisitions. For more information, please visit www.nea.com.

Contact:
Erica Sunkin
[email protected] 

About EDBI

Investing since 1991, EDBI is a Singapore-based global investor in select high growth technology sectors ranging from Information & Communication Technology (ICT), Emerging Technology (ET), Healthcare (HC) and promising Singapore SMEs in strategic industries. As a value-creating investor, EDBI assists companies achieve their ambitious goals by leveraging our broad network, resources, and expertise. With our growth capital, EDBI supports companies seeking to grow in Asia and globally through Singapore. For more information, visit https://www.edbi.com.

About Openspace

Openspace is a leading Southeast Asian venture capital firm, finding and backing companies creating a transformative impact where tech meets life. It has 6 funds with $800M in committed capital and has 39 dedicated employees, including full-time specialists within the Portfolio Success team. It is co-headquartered in Singapore and Jakarta, with active offices in Bangkok, Manila and Ho Chi Minh City. Its portfolio of 40+ companies includes GoTo, Finnomena, Halodoc, and Kredivo Holdings. Visit www.openspace.vc 

Source : LXA Raises US$10M in Seed Funding Round Led by NEA

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Geotab celebrates remarkable growth, adding 1 million new subscriptions in just 15 months Since the company reached 3 million subscriptions last August, Geotab-connected vehicles have traveled more than 89 billion kilometers; that’s about 594 trips to the sun The number of Geotab connected electric vehicles (EVs) has increased by more than 50% since August 2022, and more than 70% of the company’s subscription base is using at least one of Geotab’s sustainable fleet solutions

JAKARTA, Indonesia, Nov. 9, 2023 /PRNewswire/ — Geotab®, the global leader in connected transportation solutions, announces that it has surpassed 4 million subscriptions worldwide. This milestone underscores the significant and growing demand for high-quality data intelligence, a critical catalyst in advanced decision making which is driving the ongoing transformation of the transportation sector in SEA. Geotab’s data-driven insights have been instrumental in enhancing performance, safety and sustainability for fleets ranging from small to large including Fortune 500s and governments of all levels within the SEA region.

Geotab has a rich 23-year history and achieved a 3 million subscription milestone in 2022. In just over one year, the company added 1 million subscriptions in 2023, reflecting the growing demand for data intelligence to support fleet modernization and management in SEA. Geotab’s ecosystem of 700+ partners, continuous innovation, and collaboration with customers in emerging areas such as AI development has created ongoing opportunities for growth in the SEA region.

"23 years ago, we were a company of two operating out of the basement of my home. Now, as I reflect on our incredible journey and remarkable growth in the last 15 months, it’s clear that the potential we saw in this industry many years ago has been proven out," said Neil Cawse, CEO of Geotab. "Fleets are under mounting pressure to improve their bottom line, reduce emissions, prioritize road safety, and find cost-effective solutions. We know that you can’t effectively manage what you don’t measure, and that’s why data and technology have become as vital to organizations as the vehicles they operate.

Since we reached 3 million subscriptions last August, Geotab-connected vehicles have traveled more than 89 billion kilometers; that’s about 594 trips to the sun. If you think about all of those trips, it equates to massive amounts of data. Because of this, we are able to deliver more impactful insights to our customers. We’re informing them when an engine may fail before it fails, or the likelihood of a collision. We are incorporating generative AI to reduce time to insight. Through these innovations we are driving better business decisions and more meaningful outcomes," added Cawse.

As the number of Geotab-connected vehicles of various makes, models, and industry sectors continues to rise in the SEA region, the quantity of rich data that Geotab analyses also increases. This expansion allows the company to benchmark with greater accuracy and to build improved machine learning (ML) models, which in turn unlocks better insights for all customers in SEA. Through these AI and ML technologies, customers in SEA can transition from reactive data insights to predictive analytics and industry benchmarking, unlocking greater value from their investments in connected transportation.

"In the heart of our journey from two people in a basement to 4 million subscribers worldwide, We’ve seen the immense potential of data intelligence in shaping the future of transportation in SEA. The demand for connected vehicle data is a testament to its critical role in fleet modernization, safety, and sustainability," said David Brown, Associate Vice President Sales, APAC. "With over 89 billion kilometers of insights, we’re not just measuring, we’re driving better business decisions, reducing emissions, and prioritizing road safety. In this era of data-driven transformation, Geotab is the compass guiding fleets in SEA to a brighter, more connected tomorrow."

About Geotab

Geotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 47,000 customers in 150 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organizations, to transform their fleets and operations. We connect to over 4 million vehicles and process more than 55 billion data points a day so that customers can make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab’s open platform and Marketplace, offers hundreds of third-party solution options. Backed by a team of industry leading data scientists and AI experts, Geotab is unlocking the power of data to understand real-time and predictive analytics — solving for today’s challenges and tomorrow’s world. To learn more, visit www.geotab.com, follow @GEOTAB on Twitter and LinkedIn or visit the Geotab Blog.

Source : Global demand for connected vehicle data grows Geotab's subscriptions to 4 million

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BEIJING, Nov. 9, 2023 /PRNewswire/ — Chinese financial regulators on Wednesday vowed to put in place intensified regulations to prevent financial risks while deepening supply-side reforms and expanding opening-up in the sector, as the just-closed Central Financial Work Conference urges greater efforts to accelerate the building of a country with a strong financial sector.

By fully implementing the spirit of the Central Financial Work Conference, we will step up cross-cyclical and counter-cyclical adjustments with monetary policies to maintain reasonable and ample liquidity to support stable economic growth, and more support will be given to strategic, key and weak links, Pan Gongsheng, governor of the People’s Bank of China, China’s central bank, said at the opening ceremony of the Financial Street Forum annual conference that kicked off in Beijing on Wednesday.

Pan said the financial sector will help local governments dissolve debt risks, and ensure stable and healthy development of the housing market. In addition, supply-side reform of the financial sector will be deepened, with market-oriented reform on interest rates and exchange rates to be further boosted to accelerate the building of a modern financial system with Chinese characteristics.

Yi Huiman, chairman of China Securities Regulatory Commission (CSRC), Li Yunze, head of the National Financial Regulatory Administration and other senior officials, also addressed the opening ceremony.

Strengthening the supervision of the capital market, maintaining market order and protecting the legitimate rights and interests of investors, and preventing and resolving financial risks are the top and legal responsibility of the CSRC, Yi said.

Reforms will be enhanced as well, he said. The registration-based IPO reform is by no means a relaxation of regulations, as it aims to achieve a better synergy between an efficient market and an active government. In practice, the reform has led to even stricter regulatory measures, most notably, the enhancement of transparency, Yi stressed.

At a time when the whole country is closely following the Central Financial Work Conference, the holding of the Financial Street Forum annual conference has a special meaning, Cong Yi, a professor at the Tianjin University of Finance and Economics, told the Global Times on Wednesday.

He said the great goal of building a country with a strong financial sector injects strong momentum to the country’s high-quality development, and the financial sector is ushering in important opportunities.

In recent days, Chinese leading financial institutions including Bank of China, Agricultural Bank of China, and Industrial and Commercial Bank of China carried out studies of the spirit of the key conference.

Bank of China said it will play its role as a large state bank in stepping up efforts in areas of technology finance, green finance, inclusive finance, pension finance, and digital finance. The bank will continue to be a major force in serving the real economy and a "ballast stone" in maintaining financial stability, it said.

The financial sector is the blood of a country’s economy and a crucial component of a country’s core competitiveness, therefore the building of a financial powerhouse is necessary for building a country with strong economic capability, said Guan Tao, global chief economist at BOC International under Bank of China.

Wang Peng, associate researcher at the Beijing Academy of Social Sciences, told the Global Times on Wednesday that the senior financial officials’ remarks at the forum provide more clues for understanding the important conference, which will help the financial industry to better serve the real economy, maintain financial stability, while being able to prevent and resolve systemic financial risks.

The current risks under China’s financial systemic remains relatively controllable, but there are still certain issues that need to be addressed, such as the risks of small and medium-sized financial institutions and that of the real estate market, Wang said.

Since the end of July, the authorities have adopted multiple measures to dissolve local government debt, including the issuance of special refinancing bonds. In the future, a long-term mechanism on handling local government debt risks while establishing a local government management system that matches high-quality development may be put in place, Guan said.

In addition to effectively forestalling and defusing financial risks, the Central Financial Work Conference also stressed that the country will steadily expand institutional opening-up in the financial sector and facilitate cross-border investment and financing, so as to attract more foreign financial institutions and long-term capital to invest and operate in China.

"China will never stop its efforts in expanding financial opening-up, and its resolve to share development opportunities with the world will never change too," Li said at the opening ceremony.

Li said the financial regulators will further improve the system of pre-establishment national treatment plus a negative list, widen market access for foreign investment, and the financial system and policies will become more stable, predictable and transparent in order to strive to build a prudent and fair institutional environment.

China’s efforts to build itself into a financial powerhouse will have a positive impact on the global financial system and will contribute to global financial stability and the establishment of a fairer and more equitable international financial system, Wang said.

China’s building of a country with a strong financial sector will benefit the real economy and the interests of all developing countries, Cong said.

By now, all of the world’s 30 systemically important banks have established branches in China and nearly half of the world’s 40 largest insurance firms have entered the China market, official data showed.

Benefiting from China’s continuous opening-up, British multinational bank Standard Chartered has participated in a couple of milestone projects and gained multiple entry qualifications in the Chinese market. For example, it’s the first foreign financial institution to set up a wholly owned securities firm in China.

As an international bank rooted in China for 165 years, Standard Chartered will play the role of a "connector." With our global network and quality and innovative cross-border financial services, the bank will help boost the trade and investment between China and the world while supporting the high-quality development of the real economy, Zhang Xiaolei, head of Standard Chartered China, was quoted as saying in a press release it sent to the Global Times.

Source : Global Times: China's senior officials vow to have intensified regulations to prevent financial risks as FSF kicks off in Beijing

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The global expansion plan is underway — A full-service professional business model aims to bring the flavors of Taiwan to the international stage.

KAOHSIUNG, Nov. 9, 2023 /PRNewswire/ — As the global pandemic subsides, venturing overseas has become a new focal point for the catering industry. "Rich MINI Hot Pot" from Taiwan’s Sencubed F&B Management Consulting Co., Ltd has announced the launch of their 2024 international expansion plan, with the first target being the Southeast Asian market. The core competencies are the chain store system, a team with abundant international practical experience, and operational scalability. Once they successfully penetrate a market, they can quickly replicate their success.

Entering Southeast Asia is not just about catering to the Chinese market; it also includes the local market. Taiwanese hot pot is well-received in the local market, and many Taiwanese-style restaurants there are frequented by locals. The taste is also very similar to that of Taiwan. "Rich MINI Hot Pot," as a pioneer in expanding overseas, is expected to lead a new trend in the Southeast Asian catering market.

Different from other f&b teams, our Group possesses a complete one-stop professional business model, covering operations management, brand positioning, outsourcing resources, integrated marketing, government and foreign investment matching, agency, and franchise technology authorization and guidance, among others. The founder of the group, Gavin Chen Huancheng, with over 20 years of senior professional experience in the food and beverage industry and years of practical experience assisting other food and beverage brands in the United States, established Sencubed F&B Management Consulting Company upon returning to Taiwan. He aims to replicate successful experiences and bring Taiwanese food brands overseas through franchise and agency methods, allowing global Chinese communities and locals to savor the taste of Taiwan.

Sen Cubed Culinary Management Consultant Company Limited
Official Website: https://sencubed.com/
https://www.taiwantrade.com/suppliers/detail.html?companyid=1028636

Source : Popular hot pot brand "Rich MINI Hot Pot" from Taiwan's Sencubed F&B Management Consulting Co., Ltd is now open for franchise opportunities in Southeast Asia

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SHANGHAI, Nov. 9, 2023 /PRNewswire/ — WuXi AppTec, a global company that provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries to advance discoveries and deliver groundbreaking treatments to patients, received the 2023 Global Contract Research, Development and Manufacturing Organization Company of the Year Award from Frost & Sullivan, a growth advisory & growth opportunity analytics firm.

This recognition underscores how WuXi AppTec’s open-access and integrated platform supports customers’ work through various stages of development and empowers the global pharmaceutical and healthcare sector to advance discoveries and groundbreaking treatments to patients.

"We are honored to receive the 2023 Company of the Year Award from Frost & Sullivan," said Dr. Ge Li, Chairman and CEO of WuXi AppTec. "We are committed to enabling our customers worldwide by continuously enhancing our capabilities and capacities and supporting their vision to positively impact patients."

"WuXi AppTec envisions a future where breakthrough treatments are more accessible to address a range of medical conditions, ultimately improving the quality of life for patients worldwide," said Azza Fazar, a Frost & Sullivan research analyst. "Through its CRDMO and CTDMO business models, WuXi AppTec facilitates the seamless integration of drug discovery, development, and manufacturing processes."

The Frost & Sullivan Best Practices Awards recognize companies at the forefront of innovation and growth in their respective industries, with an eye toward creating new products, solutions, and services as customer needs evolve. This marks the seventh consecutive year that WuXi AppTec has been recognized by Frost & Sullivan for its leadership and innovative services.

About WuXi AppTec

As a global company with operations across Asia, Europe, and North America, WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable the pharmaceutical and healthcare industry around the world to advance discoveries and deliver groundbreaking treatments to patients. Through its unique business models, WuXi AppTec’s integrated, end-to-end services include chemistry drug CRDMO (Contract Research, Development and Manufacturing Organization), biology discovery, preclinical testing and clinical research services, and cell and gene therapies CTDMO (Contract Testing, Development and Manufacturing Organization), helping customers improve the productivity of advancing healthcare products through cost-effective and efficient solutions. WuXi AppTec received AA ESG rating from MSCI in 2023 and its open-access platform is enabling more than 6,000 customers from over 30 countries to improve the health of those in need – and to realize the vision that "every drug can be made and every disease can be treated."

Source : WuXi AppTec Named 2023 Global Contract Research, Development and Manufacturing Organization Company of the Year by Frost & Sullivan

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network