Pakistan to participate in horticultural expo in China

BEIJING (INP): Pakistan along with 97 countries and international organisations have confirmed to participate in the 2019 Beijing International Horticultural Expo, and has started building its pavilion, according to the expo’s organising committee. This was announced here by Zhou Jianping, executive deputy director of the Beijing World Horticultural Expo Coordination Bureau. Pakistan has started the pavilion construction while 20 international participants have signed agreements, Chinese media reported on Saturday. The construction of the expo park is steadily progressing, Zhou said and added, the main structures of the core buildings, such as the China Pavilion and the International Pavilion, have recently been completed. Exterior decoration, as well as mechanical and electrical installations in these pavilions, is now underway. The construction of supporting infrastructure inside the expo park has also been completed, while infrastructure construction outside the park is going as planned.

Eight types of tickets will be sold both online and on-site at the expo park. More than 80 companies from nine industries are listed as service providers to participants of the expo. In the second half of this year, the expo’s general contractor will speed up construction of the main pavilions, public landscapes and infrastructure to ensure the beginning of the move-in phase in October.

It is estimated that supporting service facilities, such as the expo village and hotels, and surrounding infrastructure will be completed by the end of the year.

South Korea's industrial production rises 0.3 percent in May

SEOUL (Xinhua): Industrial production in South Korea rose last month, keeping an upward trend for the second consecutive month despite the lackluster consumption and investment, a government report showed Friday. Production in all industries grew 0.3pc in May from a month earlier, after expanding 1.5pc in the previous month, according to Statistics Korea. Output in the mining and manufacturing industries gained 1.1 percent in the month due to growth in the auto and communications equipment that offset reduction in the semiconductor sector. Manufacturers posted an average factory utilization rate of 73.9pc in May, up 1.5 percentage points from the previous month. Production in the services industry was down 0.1pc on soft demand for the information and communications services that offset solid demand for healthcare and social welfare services. Retail sales, which reflect private consumption, declined 1 percent in May from a month ago, keeping a downward momentum for two months in a row.

Facility investment slumped 3.2 percent last month on weak activities in the semiconductor equipment and transport equipment sectors.

China set to become largest 5G market by 2025: Report

SHANGHAI (Xinhua): China is expected to become the world's largest 5G market by 2025, accounting for 430 million 5G connections, or one-third of the global total, according to a report released by Global System for Mobile Communication Association (GSMA) and Global TD-LTE Initiative (GTI). All three Chinese mobile operators are currently conducting live 5G trials as part of a multi-year plan that includes research and development, and a network deployment strategy with a view to a large scale commercial launch by 2020, according to the report released at the ongoing Mobile World Congress Shanghai. It emphasized that China's pre-commercial and commercial launch footprints will also be among the largest in the world in terms of base stations. China's leading role in 5G is backed by a proactive government intent on delivering rapid structural change, said Mats Granryd, director general of GSMA.

"Chinese mobile operators should be encouraged to deliver what they do best in providing secure, reliable, and intelligent connectivity to businesses and enterprises across the country," said Granryd.

Vietnam's economy grows 7.08 percent in first half of 2018

HANOI (Xinhua): Vietnam is estimated to gain gross domestic product (GDP) growth of 7.08 percent in the first half of this year, the highest first-half growth rate since 2011, the country's General Statistics Office said. Regarding economic structure in the six-month period, agriculture, forestry and fishery accounted for 14.15 percent of the GDP, industry and construction 33.78 percent, service 41.82 percent, and product taxes excluding subsidies 10.25 percent. The agriculture, forestry and fishery grew 3.93 percent, contributing 9.7 percent to the whole economy's growth; industry and construction grew 9.07 percent, contributing 48.9 percent; and service grew 6.9 percent, contributing 41.4 percent. Vietnam is taking synchronous measures to gain GDP growth of over 6.7 percent this year, according to a government report recently presented before the country's top legislature. The top legislature targeted GDP growth of 6.5-6.7 percent in 2018, compared with 6.81 percent in 2017.

Vietnam's economic prospects improve further, with GDP projected to expand by 6.8 percent in 2018, the World Bank in June stated in its latest economic update for the country.