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Lanka’s exports to China up by 111.2% so far this year
Sri Lanka’s exports to China is up by 111.2% so far this year, Chinese Ambassador to Sri Lanka Qi Zhenhong said yesterday in a statement. He said that the two nations have been standing together and helping each other in the fighting against the pandemic.
Pointing out that Sri Lanka’s GDP achieved growth of 8% in the first half of this year, Zhenhong said the cooperation between two countries in trade, investment, finance, etc., also bore fruitful results, with the value of bilateral trade in goods up by 54.7% year on year for the first three quarters
“Major cooperation projects especially the Hambantota Port and Port City Colombo becoming new magnets to attract foreign investment. China looks forward to joining hands with Sri Lanka in defeating the Pandemic and promoting bilateral pragmatic cooperation to achieve new breakthroughs in the days to come; China is also willing to share development opportunities and draw up a blueprint for development with countries around the world to achieve greater and better development,” he said.
Zhenhong said that the Chinese economy is thriving despite the threat of the pandemic and that China’s gross domestic product (GDP) reached 82.31 trillion yuan in the first three quarters of 2021. This is a 9.8% increase over the same period last year at comparable prices, with an average two-year growth of 5.2%.
“Despite the continuous impact of COVID-19 worldwide, China’s economy was growing steadily. Its optimised and upgraded economy showed extraordinary resilience to pressure, contributed significantly to the stabilisation and restoration of the global supply chain, and injected much-needed confidence and impetus into the current world economy with uncertainty,” he said.
The Ambassador said that Sri Lanka can benefit from this thriving economy by increasing exports to identified areas. Admittedly, the Chinese economy is also faced with some challenges, including the unbalanced and inadequate development, factors restricting investment and consumer demand, structural contradiction of employment, uncertainty caused by the pandemic situation globally, and international commodity prices running high, etc., he said. However, these do not take from the indicators that the coming years would be good for the Chinese economy.
“China is striving to build a new development pattern with the domestic cycle as the mainstay and the domestic and international cycles reinforcing each other. The economic fundamentals that will sustain stable and long-term growth remain unchanged: major macro indicators have stayed within a reasonable range and the national economy maintains the trend of recovery; the economic structure has been adjusted and optimized and the quality and efficiency of development are improved; the deepening of reform and opening-up is advancing and economic development is getting stronger momentum; residents’ income continues to grow and people’s livelihood gets powerful and effective support.” he said.
Given below are excerpts from the statement: “First, the consumer price index (CPI) was at a relatively low level (up by 0.6% year on year). Prices of daily necessities were stable with a slight decline and food prices have dropped by 1.6%. Second, employment was generally stable. 10.45 million new jobs were created in urban areas, achieving 95% of this year’s target; surveyed urban unemployment rate was 5.2%. Third, steady progress was witnessed in the development of industries. The total output of summer grain and early rice increased by 3.69 million tons compared to last year and the sown area for autumn grain also expanded. The value added of high-tech manufacturing industry increased by 20.1% year on year with an average two-year growth of 12.8%. Fourth, foreign trade and investment grew rapidly. The trade value of goods increased by 22.7% year on year in the first three quarters, with widened trade surplus and optimized trade structure. Paid-in foreign investment continued to increase (up by 22.3% for the first eight months) and foreign exchange reserves remained stable, maintaining above USD 3.2 trillion for five consecutive months. Fifth, there was sustained recovery of domestic demand. Investment in the manufacturing industry and private investment achieved average two-year growth of 3.3% and 3.7% respectively. The per capita disposable income rose by 9.7% year on year, basically in line with GDP growth. Sixth, innovation and entrepreneurship gained sound momentum. China has moved up and ranks the 12th in WIPO’s “Global Innovation Index 2021″. Market entities have increased rapidly, with a total number of nearly 150 million and the overall level of activity around 70%. Seventh, the development vitality of enterprises was stimulated. For the first eight months, the value added of medium-sized industrial enterprises and micro and small ones above designated size increased by 16.3% and 14.1% year on year respectively and the total profit of industrial enterprises above designated size recorded an average two-year growth of 19.5%. Eighth, financing cost in general has been steadily decreasing. From January to August, the corporate loan interest rate was 4.63%, down by 0.13% over the same period of last year.”
The U.S. Embassy in Colombo welcomed the U.S. Sports Envoys to Sri Lanka, former National Basketball Association (NBA) and Women’s National Basketball Association (WNBA) players Stephen Howard and Astou Ndiaye, from June 8 through 14.
The Public Diplomacy section of the U.S. Embassy said that it would launch a weeklong basketball program intended to harness the unifying power of sports, made possible through collaboration with Foundation of Goodness and IImpact Hoop Lab.
While in Sri Lanka, Howard and Ndiaye, both retired professional basketball players, will conduct a weeklong program, Hoops for Hope: Bridging Borders through Basketball. The Sports Envoys will lead basketball clinics and exhibition matches and engage in leadership sessions in Colombo and Southern Province for youth aged 14-18 from Northern, Uva, Eastern and Western Provinces, offering skills and leadership training both on and off the court. The U.S. Envoys will also share their expertise with the Sri Lanka Basketball Federation, national coaches, and players, furthering the development of basketball in the country. Beyond the clinics, they will collaborate with Sri Lankan schoolchildren to take part in a community service project in the Colombo area.
“We are so proud to welcome Stephen and Astou as our Sports Envoys to Sri Lanka, to build on the strong people-to-people connections between the United States and Sri Lanka,” said U.S. Ambassador Julie Chung. “The lessons that will be shared by our Sports Envoys – communication, teamwork, resilience, inclusion, and conflict resolution – are essential for leadership development, community building, equality, and peace. The U.S. Sports Envoy program is a testament to our belief that sports can be a powerful tool in promoting peace and unity.”
SJB Colombo District MP Mujibur Rahuman in parliament demanded to know from the government the reasons for CEB suspending the leave of all its employees until further notice from Thursday.
MP Rahuman said that the CEB has got an acting General Manager anew and the latter yesterday morning issued a circular suspending leave of all CEB employees with immediate effect until further notice.
“We demand that Minister Kanchana Wijesekera should explain this to the House. This circular was issued while this debate on the new Electricity Amendment Bill was pending. There are many who oppose this Bill. The Minister must tell parliament the reason for the urge to cancel the leave of CEB employees,” the MP said.However, Speaker Mahinda Yapa Abeywardena prevented Minister Wijesekera responding to the query and said that the matter raised by MP Rahuman was not relevant.
The Chartered Institute of Personnel Management (CIPM) successfully concluded the 8th Annual CIPM Symposium, which took place on 31st May 2024. Themed “Nurturing the Human Element—Redefining HRM in a Rapidly Changing World,” the symposium underscored the pivotal role of human resource management (HRM) in today’s dynamic global landscape. Since its inception in 1959, CIPM has been dedicated to advancing the HR profession through education, professional development, and advocacy, solidifying its position as Sri Lanka’s leading professional body for HRM.
Ken Vijayakumar, the President of the CIPM, graced the occasion as the chief guest. The symposium commenced with the welcome address by the Chairperson, Prof. Arosha Adikaram, followed by the Web Launch of the Symposium Proceedings and Abstract Book by the CIPM President. The event featured distinguished addresses, including a speech by Chief Guest Ken Vijayakumar, President of CIPM, and an address by Guest of Honor Shakthi Ranatunga, Chief Operating Officer of MAS Holdings Pvt. Ltd., Sri Lanka.
The symposium also featured an inspiring keynote address by Prof. Mario Fernando, Professor of Management and Director of the Centre for Cross Cultural Management (CCCM) at the University of Wollongong, Australia.
Vote of Thanks of the inauguration session was delivered by Dr. Dillanjani Weeratunga, Symposium Co-chair.
The symposium served as a comprehensive platform for researchers to present their findings across a wide range of critical topics in HRM. These included Cultural Diversity and Inclusion, Talent Development and Retention, Ethical Leadership and Corporate Social Responsibility, Adapting to Technological Advancements, Mental Health and Well-being at Work, Global Workforce Challenges, Employee Empowerment, and Reskilling and Upskilling.
The plenary session was led by Prof. Wasantha Rajapakse. Certificates were awarded to the best paper presenters during the valedictory session, followed by a vote of thanks delivered by Kamani Perera, Manager of Research and Development.
The annual symposium of CIPM was a truly inclusive event, attracting a diverse audience that spanned undergraduates, graduates, working professionals, research scholars and lecturers. This widespread interest highlights the symposium’s significance in the field of HRM, offering a unique opportunity for everyone to network and learn from scholarly brains.The CIPM International Research Symposium was sponsored by Hambantota International Port, Sri Lanka Institute of Information Technology (SLIIT), E B Creasy & Co. PLC, and Print Xcel Company.
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
