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Agribusiness Expansion in the Mekong – Role of China & Hong Kong 湄公河地区的农业扩张－ 中国与香港的角色

Agribusiness Expansion in the Mekong – Role of China & Hong Kong 湄公河地区的农业扩张－ 中国与香港的角色. Kevin Li Campaign Officer – CSR (Overseas), 项目官员（企业社会责任 - 海外） 李育成. Background 背景. Open Door Policy since 1980s Trade imbalances between China and the US

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Agribusiness Expansion in the Mekong – Role of China & Hong Kong 湄公河地区的农业扩张－ 中国与香港的角色

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  1. Agribusiness Expansion in the Mekong – Role of China & Hong Kong湄公河地区的农业扩张－中国与香港的角色 Kevin Li Campaign Officer – CSR (Overseas), 项目官员（企业社会责任-海外） 李育成

  2. Background 背景 • Open Door Policy since 1980s • Trade imbalances between China and the US • Trade liberalization due to the accession into WTO • China-ASEAN Free Trade Agreement effective 2010 • Mainland Chinese vs. Overseas Ethnic Chinese (Hua-qiao) • 自八十年代以来的开放政策 • 中美之间的贸易不平衡 • 加入世贸组织后带来的贸易自由化 • 中国东盟自由贸易协议的生效 • 中国人与海外华侨的区别与关联

  3. China’s FDI in Agriculture中国的农业对外直接投资 • Overall: 340 million USD (or 0.6% of FDI flow) (2009) • ASEAN: 110 million USD (or 4.1% of FDI flow to ASEAN) • Major commodity: Rubber (majority), Sugarcane, Corn, Cassava etc. • Case: Tianjin Julong Group has 24,000 ha of palm oil plantation in Indonesia • 总体：3.4亿美元（全部对外直接投资的0.6%）（2009年） • 东盟：1.1亿美元（对东盟全部外国直接投资的4.1%） • 主要商品：橡胶、甘蔗、玉米、木薯、棕榈油等 • 案例：天津聚龙集团在印尼拥有24,000公顷棕榈油种植园

  4. Drivers 动因 Push factors • Safeguard China’s food security as an official discourse • Huge demand for crop commodities from the Mekong region, such as rubber, sugarcane, cassava, jatropha • Grain circulation required by WTO Pull factors • Regulatory regime building up Facilitators • Host countries’ premium policies • Poppy Substitution Scheme 推动因素 • 保障中国的粮食安全 • 对湄公河地区农产品的大量需求，例如橡胶、甘蔗、木薯和小油桐树等 • 世贸组织要求的谷物流通 拉力因素 • 建立管理体制 促进因素 • 东道国的鼓励政策 • 罂粟替代种植与替代发展项目

  5. Who are investing 谁在投资 China: Poppy Substitution Scheme • China-led scheme in both Myanmar and Laos • Comes under the Ministry of Commerce in 2006 By 2009 • 3 million mu of plantation • 1 billion Yuan of total investment • 7 northern provinces of Laos, and Shan and Kachin States of Myanmar 罂粟替代种植 • 云南边境地区在缅甸和老挝牵头的方案 • 2006年由商务部主管 到2009年为止 • 种植面积三百万亩 • 总投资10亿元 • 涵盖老挝北部七个省，以及缅甸的掸邦和克钦邦

  6. Who are investing 谁在投资 Under Poppy Substitution Scheme • Yunnan-registered investors: 198 • 4% state-owned, 96% private • 19% originated in Yunnan, 81% from outside • 213 projects covered 2.19 million mu Other key agricultural investors, such as • Thailand • Vietnam 在罂粟替代种植下 • 198家云南注册的企业参与 • 4%国有，96%私有 • 19%来自云南，81%来自省外 • 213个项目，占地219万亩 老挝其他主要的农业投资国，包括 • 泰国 • 越南等

  7. Positive impacts 正面影响 • Increase in farmers’ income • Creation of job opportunities for the local people • Improved access to roads and therefore markets • Improved social infrastructure • Generate sources of income by enhanced market access • Gaining knowledge and technical know-how in agriculture • Improving the yield of agricultural production • Promoting the economic growth • Enhance the food security • 增加农民收入 • 为当地居民增加就业机会 • 改善交通及进入市场的机会 • 改善基础设施 • 通过增加市场进入来增加收入来源 • 获取农业的知识和技术 • 提高农作物产量 • 促进经济增长 • 提高粮食安全

  8. Negative impacts 负面影响 • Local resistance from the farmers over the land issues • Environmental concerns • Not well documented, need further investigation • 当地农民对土地问题的不满 • 环保的质疑 • 无详细记录，需进一步调查

  9. Role of Hong Kong: Stock trading香港的角色：股票交易 Hong Kong-listed agricultural companies based in Southeast Asia: • CP Pokphand (Thailand) – Food producer and retailer • First Pacific (Indonesia, Vietnam) – Food retailer • Asia Cassava Resources (Cambodia) – Cassava plantation • China ASEAN Resources (Cambodia) – Tree plantation 在香港上市的东南亚农业公司： • 卜蜂国际(泰国)——食品制造商和零售商 • 第一太平洋（印尼、越南）——食品零售商 • 亚洲木薯资源（柬埔寨）——木薯种植 • 中国东盟资源（柬埔寨）——种树

  10. Role of Hong Kong: Trading香港的角色——贸易 Case 1: Noble Group • Based in Hong Kong • Founded by a British businessman, Richard Elman in 1986 • One of the world’s biggest commodity traders, a Forbes 500 enterprise • Listed in Singapore • Major trading activities in Latin America • 15% stake sold to state-owned China Investment Corporation (CIC) • Acquired a 32,500-ha plantation for palm oil in Indonesia • Investment activities not understood by the general public 案例1: 来宝集团 • 以香港为基地 • 1986年由一位英国商人Richard Elman创立 • 世界最大的商品贸易商之一、福布斯500强企业 • 在新加坡股票市场上市 • 主要贸易活动在拉丁美洲 • 15%的股权售与国有中国投资有限责任公司（CIC) • 在印尼获得了一个32,500公顷的棕榈油种植园 • 农业与商品投资活动没有得到公众了解

  11. Role of Hong Kong: Potential financing香港的角色——潜在融资 Case 2: Agrifirma Brazil • Brazilian agribusiness • Plan for IPO in Hong Kong • Potential local investors: Raymond Kwok (Sun Hung Kai Properties) and Adrian Fu (who owns a number of Macau casinos and hotels) • No further news and actions 案例2:巴西Agrifirma • 巴西农业综合企业 • 在香港上市的计划 • 潜在本地投资者：郭炳江(新鸿基地产)和傅(在澳门拥有多家赌场和酒店) • 消息传出后，一直未见具体行动

  12. Role of Hong Kong: Investment banks香港的角色：投资银行 • Role of Hong Kong Branch of Global Investment Banks • J.P. Morgan: Financial Adviser for CIC in 15% stakes deal with Noble Group • Sales of retail funds in agriculture: Schroder (UK), Lyxor (SG France) and DWS (Deustche Bank, Germany) • 全球投资银行香港支行的角色 • 摩根斯坦利：作为CIC的金融顾问，持有来宝集团15％的股份 • 农业零售基金销售：施罗德（英国）、领先基金（法国法兴）和DWS(德国德意志银行)

  13. Role of Hong Kong: China香港的角色：中国 • China Development Bank Capital set up in Hong Kong • Financial service for Chinese companies and banks • Pilot scheme for settlement of overseas direct investment in Renminbi currency • 中国发展银行在香港建立资本公司 • 为中国公司和银行提供金融服务 • 海外直接投资的人民币结算试验方案

  14. Role of Hong Kong: Observations香港的角色：观察 • Potentially increasing role in financing agricultural investment • Hong Kong as a potential facilitator for global investment banks • China will become a driving force • Little awareness of social and environmental problems • Can learn experiences from the HKEx Guidelines for Mineral Companies • 在农业投资融资中越来越重要的角色 • 香港作为潜在农业投资融资的促进方 • 中国将成为背后的推动力 • 香港投资者与公众对农业投资的社会和环境问题认识很少 • 可以从港交所的矿业公司指导原则中学习

  15. Potential leverage points潜在杠杆点 • Annual Licensing Review (MofCom) • Tax exemptions (under Poppy Substitution Scheme) • The upcoming single, comprehensive law on outward investment • Media coverage of the risks in outward investments, and the lack of risk guarantee system • Influence HK-listed companies through HKEx and Global investment banks in HK • 商务部主管的年度审查 • 罂粟替代种植方案下的免税优惠政策 • 即将推出的、促进对外向投资的法律法规 • 媒体报道对外投资的风险，以及风险保障体系的缺失 • 通过港交所和在香港的跨国投资银行影响香港上市公司

  16. Potential leverage points潜在杠杆点 Endorsement of CSR guidelines • Silviculture • Hydropower (IHA/HSAF) • World Bank’s Environmental and Social Safeguard Policies Further understanding of the management of Poppy Substitution Scheme 对企业社会责任报告的指导原则的认可 • 森林 • 水电(国际水电协会) • 世界银行的环境和社会政策 对罂粟替代种植管理的进一步理解

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