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BEIJING, July 19, 2024 /PRNewswire/ -- A report from People's Daily: China's national economy was generally stable with steady progress in the first half of 2024, according to data released by China's National Bureau of Statistics (NBS) on July 15. According to preliminary estimates, the country's gross domestic product (GDP) in the first half of 2024 reached around 61.68 trillion yuan (about $8.5 trillion), up by 5 percent year on year at constant price. Since the beginning of this year, the momentum of world economic growth is sluggish, and effective domestic demand in the Chinese market remains insufficient, leading to increasing difficulties and challenges in current economic operations. Against the beak global backdrop, the Chinese economy still delivered a sound performance. In the first quarter of this year, China's GDP growth rate outpaced that of the United States, the Eurozone, and Japan. Considering the situations home and abroad in the second quarter, it is expected that China's economic growth rate will maintain its leading position in the first half of the year, and the country will remain an important engine and stabilizer for the world economy. Despite facing both overall and structural pressures, China's economic growth, especially in the labor-intensive service sector, has continued to recover, with the employment situation remaining generally stable during the first half of this year. The country has witnessed improvement in the relationship between market supply and demand, while the price level maintained moderate growth during the period. Besides, the country's foreign trade reached a new high in the first half of this year, with the goods trade volume reaching 21.2 trillion yuan and export products holding solid competitive advantages. In the meantime, steady progress has been made in industrial transformation and upgrading, showing a growing trend toward innovation-driven and green development. In the first half of this year, the proportion of the value-added industrial output of China's high-tech manufacturing companies above the designated size, namely industrial firms with an annual main business revenue of at least 20 million yuan, in the total value-added industrial output of the country's industrial enterprises above the designated size rose to 15.8 percent, up 0.6 percentage points from that of the first quarter. The country's manufacturers of intelligent and green new products, such as integrated circuits, service robots, new energy vehicles (NEVs), and solar cells performed impressively during the first six months of this year, maintaining double-digit growth in production. New technologies like big data and artificial intelligence have created new consumption scenarios, while new consumption models such as livestreaming e-commerce and instant delivery continued to emerge, driving an 8.8-percent year-on-year increase in online retail sales of physical goods during the first half of this year. Meanwhile, the combined power output of hydropower, nuclear power, wind power, and solar power companies above the designated size increased by 13.4 percent year on year, accounting for a higher share in the total power output of the country's industrial enterprises above the designated size. Besides, the energy consumption per unit of GDP in China continued to decline. While maintaining stable economic growth, authorities from different regions in China have made continuous efforts to create a new pattern of development, adjust industrial structures, and improve development quality and efficiency in the first half of this year, striving to stimulate the internal impetus and innovation vitality of businesses, an NBS spokesperson said at a press conference. These efforts have provided steady and sound momentum for the country's high-quality development, the spokesperson said. The leading role of scientific and technological innovation has been strengthened, nurturing new quality productive forces for China. In the first half of this year, the value-added industrial output of China's high-tech manufacturing companies above the designated size increased by 8.7 percent year on year, while the modern service industry, with typical fields including information transmission, software, and information technology services, maintained double-digit growth in value-added industrial output. During the period, China's production volume of intelligent products such as 3D printing equipment, service robots, and smart watches increased by 51.6 percent, 22.8 percent, and 10.9 percent year on year respectively. Besides, the country saw a 10.6-percent year-on-year growth rate in investment in its high-tech industries during the first six months of this year, 6.7 percentage points higher than that of its overall investment. Green and low-carbon transformation in China has been deepened, with continuous improvement in energy production and consumption structures. In the first half of this year, China's NEV output increased by 34.3 percent year on year, while its production of supporting products such as charging piles and automotive lithium-ion batteries grew by 25.4 percent and 16.5 percent respectively. Meanwhile, China has been accelerating the construction of a clean energy system. Preliminary estimates show that the country's proportion of non-fossil energy in total energy consumption increased by 1.9 percentage points year on year in the first half of this year. China's high-standard opening up has continued to deepen during the first six months of 2024. In the face of weak global economic growth momentum and increasing external uncertainties and instabilities, China has made solid strides in improving the quality and stabilizing the quantity of its exports, while steadily expanding the scale of imports. The improvement in both quality and quantity of foreign trade has made positive contributions to China's economic growth. In the first half of this year, the export value of products such as automobiles, ships, and integrated circuits in China increased by 22.2 percent, 91.1 percent, and 25.6 percent year on year respectively, with net exports of goods and services contributing 13.9 percent to the country's overall economic growth. China has been actively expanding its "circle of friends" for global economic and trade cooperation. For instance, its foreign trade value with Belt and Road partner countries increased by 7.2 percent year on year in the first half of this year. At the same time, the country has continued to expand its visa-free policy to include more countries and promote people-to-people exchanges with other countries, leading to a significant surge in the number of foreigners visiting China for business, tourism, and reunion with relatives and friends. In the first half of this year, China recorded over 14 million inbound trips made by foreigners, among which 8.54 million entered the country visa-free, accounting for 52 percent of the inbound trips and representing a year-on-year surge of 190.1 percent. Despite rising challenges from home and abroad, the Chinese economy has maintained a generally stable trend, the NBS spokesperson pointed out. China's economic growth is not only quantitative but also qualitative. The country has delivered a commendable and substantial economic performance, said the spokesperson. From a medium to long-term perspective, the economic fundamentals that sustain long-term growth remain unchanged, and the trend toward high-quality development has not changed in China, according to the NBS.
SHENYANG, China, July 18, 2024 /PRNewswire/ -- In a recent report by IDC titled China Healthcare Security Administrating System Market Shares, 2023: Deepening Application, Neusoft Corporation (Neusoft, SSE: 600718) once again ranks first in China's healthcare security information system market share, reflecting its ongoing leadership in this field. Healthcare security informatization was the starting point of Neusoft's Big Health business strategic layout. Having been deeply engaged in the field for three decades, Neusoft witnessed the development process of China's healthcare security system, and has been empowering the establishment of the multi-tier and wide-coverage system with its innovative technologies, products, solutions and services. With rich experience and successful practice in healthcare security informatization, Neusoft has won widespread recognition and good reputation in the market. Meanwhile, Neusoft is actively developing systems for deepening application in the areas of data governance and public services, and integrating AI technology into healthcare security informatization, to lead the industry towards continuous innovation and advancement. Currently, Neusoft provides robust support in building China's unified national healthcare security information platform, as well as the healthcare security platforms in over 200 cities across 25 provinces. Neusoft is enhancing its R&D investment in AI technology, continuously exploring the innovative application scenarios and practices of healthcare security big data. Besides, Neusoft has recently introduced an integrated solution tailored for China's compact county-level medical community, facilitating total payment for healthcare security, to empower the development of county-level medical communities. Looking ahead, Neusoft will strengthen its digital and intelligent business layout and continue to engage deeply in building intelligent healthcare security information system, enhancing the accessibility and convenience of healthcare security services, to promote the digital and intelligent development of the industry. For more information about Neusoft, please visit www.neusoft.com
80 percent of 1H global natural catastrophe claims related to U.S. events LONDON, July 18, 2024 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm, today published its Global Catastrophe Recap: First Half 2024 report, which cites a preliminary estimate of more than $117 billion in economic losses from global natural disasters during the first half (1H) of 2024. This figure was lower than the 21st-century 1H average of $137 billion, and significantly lower than the economic losses recorded in 1H 2023 ($226 billion). Published by Aon's Impact Forecasting team, the report reveals that global insured losses for 1H 2024 were at least $58 billion – above the 21st century 1H average of $39 billion, but lower than in the previous three years, where 1H insured losses exceeded $60 billion by end of June at current price levels. The total number of fatalities from natural catastrophe events was estimated at more than 6,000 during the period – significantly below long-term averages, and the lowest since 2020. Meanwhile, Aon estimates that the insurance protection gap had reduced to 50 percent, one of the lowest on record for 1H, and largely the result of elevated insurance payouts for U.S. severe convective storm (SCS) damage. Indeed, U.S. natural disasters overall accounted for nearly 80 percent of global insured losses in 1H 2024, reaching nearly $46 billion. The report highlights that 30 economic loss events exceeded $1 billion during 1H, 22 of which occurred in the U.S., two in South America, four in Asia, and two in EMEA. Japan's Noto earthquake on January 1 was the costliest 1H economic loss event, with more than $17 billion in direct damage. The costliest insured loss event was a period of SCS in the U.S. in March, estimated at $4.7 billion. Apart from the high prevalence of SCS in the U.S., extensive flooding events in southern Germany, Brazil, the Middle East and China also contributed to the total global economic damage. "It is great to see a lowering of the global protection gap, which is a result of the high levels of insurance coverage for the SCS events observed in the first half of 2024," said Michal Lörinc, head of Catastrophe Insight at Aon. "However, the re/insurance industry needs to continue its efforts to increase levels of insurance in emerging markets, through provision of not just capital and capacity, but also advanced data and analytics, which help to qualify and quantify the risk, and ultimately shape better decisions." Andy Marcell, global CEO of Aon's Risk Capital and Reinsurance Solutions, said: "Our Risk Capital experts leverage analytics to bring capital to clients and ensure that the impact of natural catastrophes is spread across the risk transfer chain to protect communities and businesses." The outlook for 2H 2024 is marked by heightened expectations of a costly hurricane season, as well as continuing SCS activity in the U.S. and Europe. By early July, the second named storm of the season, Hurricane Beryl, already resulted in potentially multi-billion-dollar losses. About AonAon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries and sovereignties with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses. Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon's newsroom and sign up for news alerts here. Aon UK Limited is authorised and regulated by the Financial Conduct Authority for the provision of regulated products and services in the UK. Registered in England and Wales. Registered number: 00210725. Registered Office: The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN. Tel: 020 7623 5500. FP # 13137 has been approved until July 17th, 2026, after which time the content should not be used or distributed. Media ContactAndrew Wragg+44 (0) 7595 217168andrew.wragg@aon.com
JAKARTA, Indonesia, July 18, 2024 /PRNewswire/ -- Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) continues to shine, being recognized as the leading bank in Indonesia and ranked 110th globally by The Banker. The London-based leading global financial and business media released the Top 1000 Banks 2024 list on July 10. The list ranks the world's top banks based on Tier 1 capital, assets, profit before tax, capital asset ratio, return on capital and return on assets. The Banker's editor, Kimberley Long, highlighted that Indonesian banks are currently experiencing a period of increased Tier 1 capital, supported by strong economic growth and stable conditions. "Optimism is reflected in the positions of Indonesian banks on the Top 1000 list, as many have recovered from last year's decline in Tier 1 capital," said Long. The Banker, a Financial Times company, has been a trusted source of global financial information since 1926. This recognition adds to BRI's recent achievements. On June 13, Forbes International named BRI the largest company in Indonesia in The Global 2000 list. On June 18, Fortune's inaugural Southeast Asia 500 list ranked BRI as the top bank in Indonesia and fourth in the financial category in Southeast Asia. Next, BRI received 11 awards from Finance Asia at the Finance Asia Awards and Asia's Best Companies Poll Gala Dinner 2024 on June 27 in Hong Kong. They are: Best CEO (Gold) for Sunarso, Best Managed Company (Gold), Best Investor Relations (Gold), Best CFO (Silver) for Viviana Dyah Ayu, Most Committed to DEI (Silver), Most Committed to ESG (Silver), Best Large Cap Company (Bronze), Best Bank for Financial Inclusion, Best Commercial Bank - SMEs, Best Sustainable Bank (highly commended), and Most Innovative Technology (highly commended). BRI President Director Sunarso attributed the awards to the company's commitment to empowering micro, small and medium enterprises (MSMEs). He added that recognition from Forbes, Fortune, Finance Asia and The Banker amid global economic uncertainty and high interest rates underscores BRI's effective strategic responses. "This has proven to be a successful foundation for the positive performance of BRI, which is a leader in the banking industry in Indonesia and increasingly influential in the regional and global financial industry," Sunarso concluded. For more information about Bank BRI, please visit: https://www.bri.co.id/
A four-year research project by INSEAD and five other institutions sheds light on how understanding medical criticality, supply chain risk and their interactions could help us better address drug shortages. FONTAINEBLEAU, France, SINGAPORE and SAN FRANCISCO, July 18, 2024 /PRNewswire/ -- Drug shortages are becoming an increasing problem in Europe and other parts of the world. When pharmacists in France walked out of their counters en masse and marched into the streets on 30 May, it was not just over their compensation and prospects, but a concern with wider implications for the public – the unreliable supply of drugs. In the Netherlands, the estimated annual total cost of drug shortages was about EUR220 million in 2023. In England, pharmacists have warned that drug shortages are at such critical levels that patients are at risk of immediate harm and even death. While Covid-19 shone the spotlight on drug shortages, it's a structural issue that exists even in the absence of demand and supply shocks. Yet most shortages are managed reactively, without accounting for the importance of supply chain risk. There needs to be a simple way to think about the differences between drugs and how that would lead to different interventions in addressing shortages. As a path to resolving these issues, Luk Van Wassenhove, Emeritus Professor of Technology and Operations Management and Iman Parsa, postdoctoral researcher at the Humanitarian Research Group at INSEAD, together with researchers* from Tilburg University, BI Norwegian Business School, Norwegian Institute of Public Health, Lancaster University and the Rotterdam School of Management embarked on a four-year project to study drug shortages in six European countries. Under the "Measures for Improved Availability of Medicines and Vaccines" (MIA#): funded by the Research Council of Norway, an analysis of Belgium, France, Norway, Sweden, The Netherlands and the UK led to the development of the Risk/Criticality Matrix (RCM). It represents a pragmatic framework for classifying drugs and guiding decision-making through a two-dimensional matrix: Supply chain risk (e.g. exported vs. locally produced drug) vs. medical criticality (e.g. blood thinners vs. erectile dysfunction drug). Refer to the Figure: Risk/Criticality Classification Matrix developed under the Measures for Improved Availability of Medicines and Vaccines (MIA) project. Drug supply chains involve many stakeholders with potentially vastly different perspectives, incentives and objectives. The simple, visual matrix is a powerful tool to align diverse stakeholders – particularly policy makers and international organisations – to consider how medical criticality and supply chain risk interact dynamically. Taking into consideration the context, regulations and costs, the tool can help them to determine the most appropriate intervention that is affordable, and which will not jeopardise patient care. The Risk/Criticality Classification Matrix is a first step in a continuous improvement loop that ensures interventions stay effective and aligned as conditions change, such as when a pandemic strikes or when a brand-name drug becomes generic. Ultimately, a systems approach is needed to tackle the chronic drug shortage issue, exacerbated by the complexity and sometimes opaqueness of drug supply chains. An evidence-based approach that aligns stakeholders and brings clarity might eventually heal medical supply chains of their structural woes. *Collaborators of the projects are: Thomas Breugem, Tilburg University; Iman Parsa and Luk Van Wassenhove, INSEAD; Kim van Oorschot and Marianne Jahre, BI Norwegian Business School; Christine Oline Årdal, Norwegian Institute of Public Health; Nonhlanhla Dube and Kostas Selviaridis, Lancaster University; and Harwin de Vries and Stef Lemmens, the Rotterdam School of Management. #More information on the MIA project: https://www.bi.edu/research/centres-groups-and-other-initiatives/mia/the-mia-project/ For any queries, reach out to news@insead.edu
NEW YORK, July 18, 2024 /PRNewswire/ -- Telco Application Programming Interfaces (APIs) have been at the forefront of many recent announcements and market developments, led by the CAMARA project and GSMA's Open Gateway initiative. Despite several optimistic projections by trade associations, the value generated by these APIs will likely be limited to US$13.4 billion and only if telcos plan accordingly, according to ABI Research, a global tech intelligence firm. Telcos are no strangers to API initiatives and projects, and their past includes a plethora of failed attempts. ABI Research expects network slicing, Quality of Service on Demand, and security APIs to be the most successful options, given that they provide unique functionality not offered by other companies to developers. "Despite several recent optimistic telco API forecasts by trade associations claiming these APIs will generate hundreds of billions in the next five years, it is unlikely that telcos will be able to convert these initiatives to a commercial success. They will need to change their mindset, culture, and commercial model radically," says Dimitris Mavrakis, Senior Research Director at ABI Research. "The involvement of Communication Platform as a Service (CPaaS) providers and hyperscalers in telco APIs, which already have succeeded in creating developer communities, can take a significant burden away from telcos and help them commercialize their API initiatives." According to recent telco API forecasts published by ABI Research, security APIs will lead in revenue with US$5.3 billion by 2028, followed by network slicing with US$5 billion and Quality of Service on Demand with US$3.14 billion by the same year. Mavrakis explains, "Even these targets will require significant effort by telcos to at least homogenize API exposure across their networks and offer a consistent interface to CPaaS providers and hyperscalers. CAMARA and Open Gateway APIs are a step in the right direction. Still, there is significant work to be done, especially in the technology enabling these APIs, such as charging, billing, and network orchestration." Telco APIs should be considered as a shortcut to commercializing complex services, including network slicing and Quality of Service on Demand, especially when offered by CPaaS providers or hyperscalers who can federate across multiple telcos and offer developers access to a critical mass of subscribers. "Telcos should prioritize API initiatives and even consider them as a training medium for the advanced services being planned for 6G," Mavrakis concludes. These findings are from ABI Research's Telco APIs: Market Sizing and Key Findings Application Analysis report. This report is part of the company's 5G & 6G Cloud-Native Systems research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present an in-depth analysis of key market trends and factors for a specific application, which could focus on an individual market or geography. About ABI Research ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers. ABI Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。 For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com. Contact Info: GlobalDeborah PetraraTel: +1.516.624.2558 pr@abiresearch.com
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