Absorbing topic: Ouyang (top centre) with local academics (clockwise from top left) Dr Chang, Prof Wong, Dr Chan and Dr Ngeow discussed the factors behind China’s success at the recent ‘Governance of China: Perspectives from Southeast Asia’ webinar.
CHINA’s success in building a strong economy, eradicating abject poverty, curbing the spread of the deadly Covid-19 virus and promoting the Belt and Road Initiative (BRI) to benefit the world can be attributed to its strong governance capability, according to a recent seminar.
From a backward country in 1978 to an economic juggernaut today, the Middle Kingdom’s rise over the past 40 years has been spectacular. What has its leaders done to create one miracle after another? This question has spurred academics at the Institute of China Studies (ICS), Universiti Malaya, to explore factors behind Beijing’s achievements.
Dr Yeah Kim Leng, professor of economics at Sunway University, said the new aid package is broad-based and covers more sectors for aid support. “The aid is timely given that the lockdown is extended with an uncertain transition to the next stage of the NRP, ” he said.
PETALING JAYA: The Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih) aid package worth RM150bil is seen as timely by economists and fund managers in view of the country still in phase one of the National Recovery Plan (NRP).
Among the highlights of the Pemulih aid package are the continuation of the Wage Subsidy Scheme for the fourth time with an allocation of RM3.8bil, which is expected to benefit more than 2.5 million workers, as well as the Employees Provident Fund (EPF) introducing a new withdrawal facility called i-Citra, where a total of 12.6 million EPF members can make withdrawals of up to RM5, 000 with a fixed payment rate of RM1, 000 per month for five months.
The recent strong showing of first-quarter results for some of the Malaysia-listed banks has brought investor attention back into the sector. Banking stocks have come off their recent dips in May as analysts largely positive towards the sector since late last year have pushed their target prices (TPs) for certain banks higher following the latest results for the first quarter of 2021 (1Q21) (see chart).
The key index of Bursa Malaysia is expected to hover between 1,580 and 1,600 next week, as sentiment continued to be clouded by the surging COVID-19 cases in the country.