Fintech PR

CGTN: China deepens reform and opening up, appeals to global investors

Published

8 months ago

March 29, 2024

BEIJING, March 29, 2024 /PRNewswire/ — The opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2024 was held in Boao, south China’s Hainan Province on Thursday, with China’s top legislator Zhao Leji stressing China’s economic potential, appealing to international investors and calling for Asia solidarity and cooperation for regional prosperity in his keynote speech.

Zhao, chairman of the National People’s Congress Standing Committee, highlighted that China is pursuing a path of high-quality development and is deepening reform and opening up, which he said will provide great development opportunities for Asia and the world.

‘Investing in China is investing in the future’

China has set an economic growth target of around five percent for 2024 and the country’s GDP grew by 5.2 percent last year, one of the highest among major economies. The Chinese economy has accounted for about one-third of global growth, and the International Monetary Fund last year projected that a 1 percentage point increase in GDP growth in China will lead to a 0.3 percentage point increase in other Asian economies.

To transform its economy and achieve sustainable development, China now is deepening reforms. For example, China has pledged to further shorten the negative list for foreign investment, remove all restrictions on foreign investment access in the manufacturing sector and deliver national treatment for foreign businesses.

On March 22, the Chinese Commerce Ministry rolled out the first negative list for cross-border trade in service sectors at the national level, in which sectors that are not listed are, by default, open to foreign service suppliers under the same conditions as for domestic service suppliers, a major step for China’s further opening up.

China also promised to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060. Official data shows that China’s installed solar capacity accounted for nearly half of the world’s, the number of new energy vehicles (NEVs) registered in China accounts for over half of the world’s and at least 25 percent of the foliage expansion since the early 2000s globally came from China. Zhao said China’s green and low-carbon development is expected to nurture a 10-trillion-yuan (about $1.4 trillion) market for investment and consumption each year.

In addition, new drivers of China’s economy resulting from tech innovation are also growing fast. At the just concluded China Development Forum, Chinese Premier Li Qiang said the added value of China’s strategic emerging industries increased from 7.6 percent of GDP 10 years ago to more than 13 percent last year, the scale of China’s digital economy has exceeded 50 trillion yuan, and China has as many as 24 of the world’s top 100 sci-tech innovation clusters.

“The potential of China’s supersized market with over 1.4 billion people will be further unlocked,” said Zhao. “Investing in China is investing in the future.”

Cooperation is vital for global prosperity

Zhao also expressed optimism for Asia’s development at the forum, saying it’s the “most dynamic and promising” region in the world, but he warned that protectionism and a cold-war mindset are undercutting some countries’ efforts for development and pushing the world toward division and confrontation.

A report published by BFA Academy on Tuesday predicted that the Asian economy will sustain a strong growth rate in 2024, accounting for 49 percent of the world’s GDP, and its growth rate is expected to reach 4.5 percent.

Although the growth of Asia may face pressures from a global economic slowdown, geopolitical conflict and other factors, positive factors including accelerated digital trade, recovery of tourism and advancements of regional economic integration such as the Regional Comprehensive Economic Partnership will add new impetus to Asian trade and investment, the report predicted.

Zhao stressed that peace is a prerequisite for Asia’s development in the face of intertwined and complex global security threats. He called on Asian nations to stay united, jointly stand against unilateralism and extreme egotism, oppose confrontation between different camps, and prevent the region and the world from becoming an arena for geopolitical fighting.

During the 2022 Boao Forum, China proposed the Global Security Initiative, promoting the vision of common, comprehensive, cooperative and sustainable security. In 2021, China proposed the Global Development Initiative, which promotes globalization, multilateralism and free trade, aiming to build a just, equitable, open and inclusive world.

“No country is able to develop itself behind closed doors,” said Zhao, adding “We must oppose trade protectionism and all forms of erecting barriers, decoupling or severing supply chains, but instead share opportunities in opening up and seek win-win outcomes through cooperation.”

https://news.cgtn.com/news/2024-03-28/China-deepens-reform-and-opening-up-appeals-to-global-investors-1sl0CI4gKDm/p.html

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Fintech PR

Bybit P2P Enters Holiday Season with Festive Rewards

Published

25 minutes ago

December 5, 2024

CISION (PR Newswire)

bybit-p2p-enters-holiday-season-with-festive-rewards

DUBAI, UAE, Dec. 5, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is joining in the holiday cheers with three rounds of rewards on Bybit P2P, starting with a Christmas extravaganza of 100,000 USDT. This festive season will also mark the third anniversary of Bybit P2P, setting off three months of celebrations and exclusive rewards all the way to 2025.

Santa is coming early to Bybit P2P with abundant gift ideas. From now to Dec. 25, 2024, users will get to unlock a 100,000 USDT prize pool by completing simple tasks:

Users will receive a ticket every time they fulfil a task on the Bybit P2P platform for a chance to win big in the Santa’s Mega Lucky Draw. Prizes include a whole BTC, 0.5 ETH, 0.5 SOL, 10 SUI, 99 USDT Bybit P2P coupons, a 50 USDT bonus, and more.
Users may unlock the Bybit P2P Advent Calendar by making a deposit each day via Bybit P2P during the event period. With each deposit, users will receive an extra lucky draw ticket and unveil daily rewards to ring in the festive vibes.

To keep the momentum going and start off 2025 on an auspicious note, the Christmas perks will be followed by Bybit P2P’s exclusive New Year celebration, culminating in the grand finale of the highest rewards and biggest bonuses at the Bybit P2P 3rd Anniversary event in 2025.

“We are proud of Bybit P2P’s achievements in community building and user experience. As Bybit P2P turns three, we are taking a moment to show our gratitude to all our users for their trust and support,” said Joan Han, Sales and Marketing Director at Bybit. “This holiday season, we invite our P2P users to keep an eye out for pleasant surprises as we triple for fun and the rewards.”

Riding the nonstop waves of rewards into its fourth year, Bybit P2P continues to anchor itself in serving the community and providing ease of access to crypto. The intuitive and trusted peer-to-peer trading platform facilitates the buying and selling of crypto holdings at an optimal, agreed upon price between users at zero costs, lowering the barrier of entry to as well as transaction costs of the digital asset class.

Find out more about the event and eligibility at the Bybit P2P Christmas Event.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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Fintech PR

Nereus NRS Token Listed on BitMart Following Rapid Price Surge

Published

25 minutes ago

December 5, 2024

CISION (PR Newswire)

nereus-nrs-token-listed-on-bitmart-following-rapid-price-surge

HONG KONG, Dec. 5, 2024 /PRNewswire/ — Building on its strong debut, Nereus is proud to announce the listing of its governance and utility token, NRS, on BitMart. This marks the second exchange listing for NRS in just two weeks, reinforcing the platform’s rapid growth and its mission to expand access to its innovative decentralized derivatives trading ecosystem.

Since its launch on MEXC earlier this month at an initial listing price of $0.05, the NRS token has shown exceptional performance, surging by 1,300% in value to nearly $0.70 at its peak before stabilizing at $0.18. This growth highlights strong market confidence and underscores the increasing recognition of the Nereus ecosystem’s value.

A Platform on the Rise

Nereus has quickly established itself as a leading derivatives trading platform on Polygon. The platform has facilitated over 150,000 transactions and more than $213 million in trading volume, a testament to its robust adoption and user-friendly design.

The CEO of Nereus expressed excitement about this development, stating, “The listing on BitMart is another pivotal step toward our vision of democratizing decentralized derivatives trading. The growing momentum of the NRS token demonstrates our community’s enthusiasm and the market’s belief in our ecosystem. With more exchange listings on the way, we are committed to making NRS accessible to a global audience.”

NRS Token’s Role in the Ecosystem

The NRS token is integral to the Nereus platform, providing users with unique benefits:

Staking Rewards: NRS stakers receive dual rewards in USDT and escrowed NRS tokens (esNRS) through a vote-escrow model, encouraging long-term engagement.
DAO Governance: A quadratic voting model ensures fair participation in decision-making and empowers the community to shape the platform’s future via a DAO treasury, holding 45.14% of tokens.
Revenue Sharing: 80% of daily trading fees are shared with NRS stakers, directly aligning user rewards with platform success.

These features are designed to foster long-term user engagement and create a sustainable ecosystem.

Looking Ahead

The listing on BitMart is part of Nereus’ strategic roadmap to broaden access to its ecosystem. With more exchange listings planned, the platform is poised to expand its global reach and liquidity further.

About Nereus

Nereus is a decentralized derivatives trading platform on the Polygon blockchain, offering up to 150x leverage across cryptocurrencies, forex, and commodities. Designed to blend the user-friendly experience of centralized exchanges with the transparency of DeFi, Nereus features gasless transactions, social logins, and instant execution with low trading fees.

The platform prioritizes security and scalability, with plans to migrate to a zero-knowledge (ZK) Layer 2 solution for reduced transaction costs and faster processing. Its unique SDK enables seamless integration with partner platforms, including an exclusive partnership with COCA Wallet, allowing users to access trading services directly within the COCA Wallet app for a seamless, native experience.

With a strong focus on user experience and scalability, Nereus is transforming decentralized derivatives trading.

For more information, please visit www.nereus.finance.

Follow Nereus on social media to stay updated on the latest developments and upcoming exchange listings.

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Fintech PR

H.I.G. Capital Closes $1 Billion Bayside Loan Opportunity Fund VII

Published

1 hour ago

December 5, 2024

CISION (PR Newswire)

MIAMI, Dec. 5, 2024 /PRNewswire/ — H.I.G. Bayside Capital, the special situations credit affiliate of H.I.G. Capital (“H.I.G.” or the “Firm”), a leading global alternative investment firm with $66 billion of capital under management, is pleased to announce the final closing of H.I.G. Bayside Loan Opportunity Fund VII (the “Fund”). The Fund closed with $1 billion of aggregate capital commitments and continues the Firm’s successful strategy of investing in special situation credit opportunities in the European middle market.

Established in 2006, H.I.G. Bayside’s European strategy invests primarily in senior secured European stressed and special situations credit, targeting equity-like returns. The Fund’s disciplined approach to portfolio construction and deal selection has consistently resulted in higher returns and a lower level of volatility relative to comparable credit indices. The Fund’s predecessor, H.I.G. Bayside Loan Opportunity Fund V, was named “Best Performing Debt Fund” by Private Equity Wire/Bloomberg in 2022.¹

Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen, commented: “H.I.G. is one of the largest and most active credit investors dedicated to the middle markets. The H.I.G. Bayside Europe team benefits from our highly synergistic platform across the U.S., European, and Latin American middle markets, as evidenced by the risk-adjusted returns the Firm has generated over multiple cycles.”

Andrew Scotland and Duncan Priston, H.I.G. Bayside Europe Fund Co-Heads, commented: “We are very pleased to have fresh capital to deploy into one of the most compelling market environments for special situations credit investing where a significant number of levered European businesses are facing challenges. Our team is well positioned to capitalize on the investment opportunities available.”

Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, added, “We aim to provide limited partners with a full spectrum of investment opportunities across private equity, credit, and real assets in the middle market. Limited partner backing of the Fund demonstrates strong interest in the middle market and conviction in H.I.G.’s differentiated approach. We are thankful for the strong support the Fund received from a diverse and global investor base in North America, Europe, Asia, and the Middle East, including public and private sector pensions, endowments, foundations, asset managers, consultants, fund of funds, financial institutions, and family offices.”

¹ H.I.G. Bayside Loan Opportunity Fund V was named “Best Performing Debt Fund Over $1.5B” by Private Equity Wire/Bloomberg in November 2022.

About Bayside Capital

Bayside Capital is the special situations affiliate of H.I.G. Capital. Focused on middle market companies, Bayside invests across several segments of the primary and secondary debt capital markets with an emphasis on long term returns. With eight offices throughout the U.S. and Europe and over 500 investment professionals to draw upon, Bayside has the experience, resources, and flexibility required to generate superior risk-adjusted returns. For more information, please refer to the Bayside website at bayside.com.

About H.I.G. Capital

H.I.G. is a leading global alternative investment firm with $66 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.

*Based on total capital raised by H.I.G. Capital and affiliates.

Contacts:
Jordan Peer Griffin
Executive Managing Director
[email protected]

Duncan Priston
Co-Head of Bayside Europe
[email protected]

Andrew Scotland
Co-Head of Bayside Europe
[email protected]

H.I.G. Capital
1450 Brickell Avenue
31^st Floor
Miami, FL 33131
P: 305.379.2322
hig.com

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