Economists' Pick- Highlight
24 May 2018
Division of roles and responsibilities among different industries is increasingly refined, with domestic and global supply chains becoming more complex. So, many businesses need to source service support from third parties to better connect various elements of their operations: from R&D to design, production, sales and after-sales service, in a bid to enhance supply chain management capabilities.
The Yuxinou railway starting from Chongqing has played a pioneering role in opening up China-Europe rail trade. The Yuxinou has offered shorter journey times, wider geographic coverage and more diverse cargo mix since its launch. Efforts have been made to facilitate interchange with other freight transport modes. The multi-modal freight transport system with Yuxinou as its hub will reinforce Chongqing’s role as western China’s key logistics hub.
Forty years after China adopted its opening-up policy and 20 years after the handover, many believe that the importance of Hong Kong to the mainland has dwindled, while Hong Kong’s dependence on the mainland is absolute. The economic interdependence between the two places has suffered a number of ups and downs over the years. Hong Kong, as the mainland’s most market-oriented and internationalised city, has a unique and important role to play in the country’s reform and opening-up process.