Shanghai touts the signing of USD $16 billion in foreign direct investment (FDI) deals as well as a new investment platform. China’s Ministry of Commerce (MOFCOM) will move to open the oil and gas industry chain in East China’s Zhejiang Pilot Free Trade Zone (FTZ) to, among other things, bring in strategic FDI. Senior managers at the Gwadar Port in Pakistan state the coronavirus has not had a serious negative effect on the port’s operations. Hungarian government moves to classify details of loan to finance Budapest-Belgrade rail project, arguing it would help it secure the loan. The production of Japanese automakers in China plummets in February and global output likely to drop due to factory shutdowns in the United States (US) and Europe. Asashi Group (Japan) has received approved from Australian competition authorities to complete its purchase of Australia’s Carlton & United Breweries subject to certain divestitures. Korea’s HDC Hyundai Development Co. acquisition of Asiana Airlines slowed due to delays in competition authority review work resulting from the coronavirus. Korean battery manufacturers in China to benefit from Beijing’s extension of electric vehicle (EV) battery subsidies because they include foreign battery makers.
