Technology

RCEP set to help stabilize global trading system

Published

11 months ago

May 26, 2025

HAIKOU, China, May 26, 2025 /PRNewswire/ — The advancement of the Regional Comprehensive Economic Partnership agreement to a higher level and toward broader coverage will bolster economic growth in the Asia-Pacific region and help stabilize a fracturing world trade system, officials and experts said on Sunday.

The mega trade pact, covering 30 percent of the world’s total population and economic output, should play an even more significant role in championing free trade and mutual benefits as headwinds buffet the global economy, they said at the 2025 RCEP Media and Think Tank Forum held in Haikou, Hainan province.

The forum, themed “Jointly Building High-Level and Largest Free Trade Area”, was organized by China Daily, the China Institute for Reform and Development and the China Oceanic Development Foundation.

“Unilateral protectionism and hegemonic bullying are wreaking havoc worldwide,” said Hainan Governor Liu Xiaoming. “Yet the RCEP is injecting robust momentum into the economic integration of the Asia-Pacific, presenting member states with new market opportunities and bolstering the international community’s confidence in multilateralism.”

Hainan, as a free trade port, will fully leverage its existing policies to integrate with the rules of the RCEP, Liu said, adding that the province will turn itself into a crucial hub that facilitates market connectivity, production factor mobility, rule coordination and industrial chain cooperation between China and other RCEP member economies.

“In the face of an increasingly uncertain and volatile global landscape, the steady progress of RCEP implementation has become even more precious,” said Qu Yingpu, publisher and editor-in-chief of China Daily.

“Redoubling our efforts to push forward regional integration and economic globalization is essential for shaping a community with a shared future for mankind,” Qu said, adding that the RCEP member economies should work together to build a regional community for scientific and technological innovation.

Harnessing the synergies of artificial intelligence-enabled joint research and cooperative networks among RCEP members will greatly enhance the collective capacity for innovation and smart development, he said.

The RCEP — the world’s largest free trade pact, which is aimed at gradually eliminating tariffs on over 90 percent of goods traded among its 15 members — serves as a critical counterweight to the United States’ blanket tariff hikes targeting global economies.

Last year, the total trade volume among RCEP members reached $5.7 trillion, up 2.5 percent year-on-year, according to a report released at the forum.

China, as a key player of the RCEP, has been making cutting-edge AI capabilities available both domestically and globally, with DeepSeek, a cost-effective and open-source large language model developed at a mere fraction of the cost of comparable US models, being a prime example.

“Looking ahead, an RCEP with higher standards, a broader scope and more inclusive development will surely inject certainty into the global economy,” said Chi Fulin, president of the China Institute for Reform and Development.

At present, the RCEP comprises the 10 member states of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand. China’s Hong Kong Special Administrative Region, Sri Lanka and Chile have submitted applications seeking accession to the RCEP.

Chi said that Hong Kong’s accession would not only boost growth of regional trade, but also drive regional financial development and enhance the internationalization of regional industries. If Chile joins the group, it would mark an upgrade of the RCEP from a purely regional arrangement to a cross-regional one, he added.

Secretary-General of ASEAN Kao Kim Hourn said, “The growing interest from potential applicant countries and regions represents a powerful testament to our commitment to maintaining an open and inclusive agreement.”

He added that relevant parties are working diligently to finalize the details of the accession process as expeditiously as possible.

Meanwhile, the full completion of negotiations on the Version 3.0 China-ASEAN Free Trade Area and the accelerating negotiations for the China-Japan-South Korea Free Trade Agreement are also converging to open up more opportunities for regional growth.

Lyu Bin, president of the China Oceanic Development Foundation, called for efforts to construct a platform for cooperation on the blue, or marine economy, helping RCEP member nations to identify their comparative resource advantages and optimize the layout of their marine industries.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/rcep-set-to-help-stabilize-global-trading-system-302464943.html

SOURCE China Daily

Technology

Meridian Singapore Immigration Launches New Website to Simplify the PR Application Journey for Foreigners in Singapore

Published

2 hours ago

April 30, 2026

New online platform provides clear, structured guidance for Employment Pass and S Pass holders navigating Singapore’s residency and Permanent Residency pathways

SINGAPORE, April 30, 2026 /PRNewswire/ — Meridian Singapore Immigration Pte. Ltd. has officially launched its new website at meridianimmigration.sg, a resource built specifically for foreigners living and working in Singapore who are exploring Permanent Residency or long-term residency options.

The platform arrives at a time when Singapore’s expatriate and foreign professional community is growing rapidly, yet many EP and S Pass holders report struggling to find clear, reliable information on the PR application process. Singapore’s immigration framework is among the most structured in Southeast Asia, with eligibility criteria, documentation requirements, and submission windows that change frequently. For individuals navigating this process without professional guidance, the stakes are high and the margin for error is narrow.

Meridian’s website was built to address that gap directly. The platform offers detailed explanations of available immigration pathways, structured consultation options, and educational resources developed by the firm’s team of immigration specialists. Rather than presenting a services catalogue, the site walks users through the considerations relevant to their specific situation, whether they hold an Employment Pass, S Pass, or are planning for their family’s long-term residency in Singapore.

“We built this platform because we saw how overwhelming and confusing the immigration process can be for people who genuinely want to build their lives here,” said a spokesperson for Meridian Singapore Immigration. “Our goal is to be the trusted partner that walks them through every step with clarity and integrity.”

Singapore’s continued attractiveness as a regional hub for multinational corporations, financial institutions, and technology firms means the pipeline of foreigners seeking long-term residency options remains substantial. At the same time, the ICA’s PR application framework has grown more nuanced, with factors such as economic contributions, family ties, and community integration weighed during assessment. Applicants who proceed without a clear understanding of these criteria often submit applications that are either premature or structurally incomplete.

Meridian’s approach centres on preparation and transparency, helping applicants understand where they stand before they apply and what supporting documentation strengthens their case.

Meridian Singapore Immigration Pte. Ltd. is a professional immigration consultancy dedicated to guiding individuals and families through Singapore’s immigration process. Specialising in Permanent Residency (PR) applications, residency pathways, and compliance support, Meridian offers clear, structured solutions tailored to each client’s unique circumstances. Founded on the values of Guidance, Integrity, and Success, Meridian is committed to making immigration simple, transparent, and accessible for everyone. For more information, visit meridianimmigration.sg or contact info@meridianimmigration.sg / +65 8873 1113.

View original content:https://www.prnewswire.com/apac/news-releases/meridian-singapore-immigration-launches-new-website-to-simplify-the-pr-application-journey-for-foreigners-in-singapore-302757392.html

SOURCE Meridian Singapore Immigration Pte. Ltd.

Technology

Socomec, Daitron team up to meet Japan’s growing power demands

Published

2 hours ago

April 30, 2026

TOKYO, April 30, 2026 /PRNewswire/ — Socomec, a century-old electrical group specialising in mission-critical energy, and Japan’s Daitron, an electronics components distributor, have signed a partnership to deliver power conversion solutions and service backup power and electrical-switching systems across Japan.

The deal combines Socomec’s equipment with Daitron’s on-the-ground engineering team, which has more than 74 years of experience in the Japanese market. The two companies will handle everything from project delivery to ongoing maintenance and spare parts.

The partnership covers three product areas: uninterruptible power supplies (UPS), which keep facilities running during outages; power conversion systems, which ensure the availability and continuity of high-quality energy; and static transfer switches, which automatically reroute power loads between sources without interruption.

Beyond equipment sales, the agreement includes training, spare parts, long-term service contracts and a full range of expert services covering prevention, measurement and analysis, consultancy, deployment and optimisation. Socomec will provide product and technical training to Daitron’s team, while Daitron handles installation, servicing and day-to-day client support in Japan.

The target market spans data centres, semiconductor plants, industrial facilities, hospitals and green buildings, all areas where even brief power interruptions can prove costly. Data center demand in particular is surging, driven by the rapid expansion of artificial intelligence infrastructure, with colocation and enterprise facilities among the primary targets.

“Daitron knows the Japanese market inside and out. They have the people, the relationships, and the hands-on experience, and we bring the technology to match,” said Socomec Asia-Pacific CEO O’Niel Dissanayake. “It’s a natural fit, and together we can offer something neither company could deliver alone.”

“Japan’s data centres, chip factories and industrial plants all require power systems they can count on,” said Masaharu Kato, corporate officer of Daitron. “Socomec’s technology is exactly what these customers need, and our job is to make sure it’s installed, maintained and supported properly. That’s what we do best.”

The partnership comes as Japan faces a step change in power demand. Electricity consumption is expected to grow 5.3% over the next decade, driven by data centres and semiconductor factories, according to the country’s grid operator. Industrial energy demand alone is forecast to rise 18.3% over the same period.

That growth is creating strong demand for reliable power infrastructure. Data centres, for example, run around the clock and cannot afford downtime, making backup power and efficient energy management essential. Socomec’s systems are designed to reduce power consumption without sacrificing reliability, a balance that is becoming increasingly important as operators look to manage both costs and environmental commitments.

Both companies say project planning and bids are already underway, with a long-term goal of expanding the partnership’s reach across Japan as demand grows.

About Daitron

Daitron Co., Ltd. is a Japanese engineering and trading company founded in 1952 and headquartered in Osaka. Listed on the Tokyo Stock Exchange (TYO: 7609), Daitron sells and manufactures electronic components, semiconductor processing equipment and power supply systems. The company has more than seven decades of experience serving Japan’s electronics and manufacturing industries.

SOCOMEC: When energy matters

Founded in 1922, SOCOMEC is an independent industrial group of more than 4,800 experts spread across the world in 30 subsidiaries. Our vocation: design, manufacture and sale of electrical equipment, with a strong expertize in critical power applications. In 2025, SOCOMEC achieved a turnover of 997 million euros (not yet audited).

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/socomec-daitron-team-up-to-meet-japans-growing-power-demands-302755570.html

SOURCE Socomec

Technology

Multi-Destination Travel Surges Across Asia-Pacific This Labour Day, Trip.com Group Data Shows

Published

2 hours ago

April 30, 2026

Multi-city travel across Asia-Pacific grew 35% year-on-yearMulti-city travel outpaces single-destination growth by more than 2xSoutheast Asia sees strong double-digit growth, with Thailand up to 52% YoY

SINGAPORE, April 29, 2026 /CNW/ — Multi-city travel across Asia-Pacific grew 35% year-on-year this Labour Day period, according to data from Trip.com Group. Several Asia-Pacific markets including Japan, South Korea, parts of Southeast Asia and Mainland China celebrate Labour Day, driving strong cross-border and domestic travel flows across the region.

Over 30% of international trips now span multiple destinations, highlighting a continued shift towards more complex, itinerary-led travel. This shift reflects a growing preference to maximise time and value with multiple destinations within a single trip rather than a single location.

Multi-destination trips become a defining travel pattern

While single-destination travel continues to account for most bookings, growth is increasingly driven by more complex itineraries. Multi-destination bookings are growing at more than twice the pace of single-destination travel, reflecting stronger demand for flexibility and deeper exploration.

Travellers are increasingly structuring trips across multiple cities to maximise both time and value, with popular combinations including:

Tokyo – Osaka – Kyoto (Japan)Seoul – Busan (South Korea)Bangkok – Phuket (Thailand)

These itineraries reflect a growing preference for multi-stop journeys that blend urban experiences with leisure destinations.

Southeast Asia sees fast growth in multi-destination travel

Across Southeast Asia, demand for multi-destination travel is rising steadily, with strong growth across key markets of Thailand: 52%, Malaysia: 40%, and Singapore: 17%, according to Trip.com Group data.

Top outbound destinations across Southeast Asian markets include Japan (Tokyo, Osaka), South Korea (Seoul), China (Shanghai, Beijing), Thailand (Bangkok), Indonesia (Bali).

In other parts of Asia such as Hong Kong SAR, multi-destination travel also grew by over 50% year-on-year, highlighting growing preference for more complex itineraries over traditional single-destination trips, particularly in well-connected urban markets.

In Mainland China, domestic travel remains a strong base, while overseas journeys are increasingly shaped by multi-destination itineraries, with over 40% of outbound trips spanning multiple destinations and continuing to grow.

This suggests that travellers in this region are increasingly combining multiple cities within a single trip, supported by strong regional connectivity.

Japan’s domestic travel momentum on the rise

Japan is also seeing shifts in domestic travel behaviour, even as outbound demand continues to grow.

In Japan, domestic travel is growing rapidly, indicating rising interest in travelling within the country, accounting for one-quarter of all flight bookings, and to cities such as Tokyo, Sapporo and Okinawa.

Intra-Asia travel dominates Labour Day demand

The Labour Day holiday period continues to be driven by regional travel within Asia-Pacific, with travellers favouring destinations that offer ease of access, diverse experiences, and flexible itineraries.

The Group’s data highlights the continued strength of short-haul travel, supported by strong connectivity and shorter flight durations.

More broadly, the way people travel across Asia-Pacific is evolving. Travellers taking a more deliberate approach to how they plan their trips. While cross-border journeys are increasingly shaped by multi-city itineraries, domestic travel remains a strong and steady part of the landscape. Together, these patterns point to a more flexible and value-conscious mindset, as travellers look to make the most of both time and budget.

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission “to pursue the perfect trip for a better world”. Find out more about Trip.com Group here: group.trip.com.