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Xinhua Silk Road: online special feature on investment in south China's Hainan Jiangdong New Area launched – Canada NewsWire

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BEIJING, June 29, 2020 /CNW/ — An online special feature on investment in Jiangdong New Area of Haikou city, south China’s Hainan Province, was jointly launched last Sunday by Jiangdong New Area Administration Bureau and China Economic Information Service on the website of Xinhua Silk Road (en.imsilkroad.com).

Consisting of many columns such as Jiangdong news, Hainan free trade port (FTP) news, Jiangdong’s industry planning, preferential policies and facilities, the special feature serves as a platform for global investors to have in-depth knowledge about the policies, investment sectors and development outcomes of the Hainan FTP and Jiangdong New Area.

Chinese authorities on June 1 released a master plan for the Hainan FTP, which aims to build the southern island province into a globally-influential high-level free trade port by the middle of the century. According to the plan, a free trade port system focusing on trade and investment liberalization and facilitation will be “basically established” in Hainan by 2025 and become “more mature” by 2035.

As one of the 11 key areas and parks of the Hainan FTP, Jiangdong New Area prioritizes the building of an open and innovative industrial system where headquarters economy takes a leading role and airport economy, service economy, ecological economy are highlighted. Relevant preferential policies, therefore, have been formulated, concerning project selection, land use, and industrial supervision.

A group of Fortune Global 500 companies have been attracted to settle down in Jiangdong New Area, stated Feng Benyan, executive deputy director of Jiangdong New Area Administration Bureau, also saying that those enterprises can enjoy nearly 20 incentive policies.

More information about investment in Jiangdong New Area will be provided through the two investment hotlines +86-898-6860-3376, +86-898-6866-2391 or via email to [email protected].

Original link: https://en.imsilkroad.com/p/314407.html

SOURCE Xinhua Silk Road

For further information: Silvia, +86-151-1792-5061

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Bracing your investment portfolio for ongoing waves of volatility: Ask BNN Bloomberg – BNN

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With growing economic uncertainty during the COVID-19 pandemic, the financial landscape is shifting every day.

Whether it’s dealing with sudden unemployment, ballooning debt, or expenses related to working from home, BNN Bloomberg wants to help Canadians navigate these uncharted waters.

That’s why we created Ask BNN Bloomberg, where you can have your personal finance questions answered by industry professionals.

Email or send your questions via video to askbnnbloomberg@bellmedia.ca, and we will aim to answer them weekly.

Questions and answers have been edited for clarity. Last names will not be used.


Financial aid for Canadian contractors

Alex in Oshawa, Ont.:

My wife rents a commercial unit and is a sub-landlord to five hairstylists in her salon. These independent contractors pay a chair rental fee and are not on a payroll system. She pays rent to the landlord for the unit she leases it in her name.

My wife wants to know if she can apply for the rent relief program since she doesn’t think her landlord will participate in it and she wants to help her stylists out with rent.

Just trying to ease their pain. l keep hearing that we are all in this together. (May 12, 2020)

Mary Ng, minister of small business, export promotion and international trade:

Thank you, Alex. Like you said, we are all in this together – and we will continue working to support Canadians every step of the way through this crisis.

Although the tenant-landlord relationship is ultimately the responsibility of the provinces and territories, our government has stepped up to provide support through the tools that we have, the Canada Mortgage and Housing Corporation, so that small businesses can get the rent relief they need. We strongly urge all landlords to apply for the Canada Emergency Commercial Rent Assistance (CECRA) – it makes financial sense and will help all of us get through these tough times.

CECRA is just one of a wide range of other emergency supports we’ve bought in to help businesses and all Canadians. The Canada Emergency Response Benefit (CERB) could help your wife and her stylists if they’ve seen their income reduced, and the $40,000 interest-free loan CEBA (Canada Emergency Business Account) can help business owners like your wife keep up with non-deferrable expenses, like rent and utilities – which is available at your local bank or credit union. (June 30, 2020)

Choosing between CERB and CESB

Jenny from Montreal:

Hello BNN Bloomberg,

Thank you so much for taking the time to answer my questions concerning my personal financial situation.

I am a student who just graduated this winter semester. I was working part-time at school during the school year and with the pandemic, I stopped working there as the school was (and is still), closed.

I applied for CERB from mid-March till June, as I have earned more than $5,000 in 2019. On the side, I had a smaller part-time job that earns about $200 per month so I am also well-below the $1,000 maximum as income per month for CERB.

My question is, can I keep taking CERB instead of Canada Emergency Student Benefit (CESB)?

I have not returned to work at school but seeing that summer is here, I normally would have had to sign a new contract with the school for a part-time job as the winter semester is officially done.

Thank you so much for your clarification! (June 15, 2020)

Tim Cestnick, co-founder and CEO of Our Family Office Inc.:

Choosing between CERB and CESB

Tim Cestnick, co-founder and CEO of Our Family Office Inc., answers a viewer question on whether they can claim CERB even if their part-time job ended during the winter semester and it hasn’t been renewed.

There’s still a lot of confusion around the Canada Emergency Response Benefit and also the Canada Emergency Student Benefit and particularly which can you claim and when.

Now just to share with you one story; one student was working during the school year on a part-time basis, now that work was supposed to come to an end at the end of April but she was working part-time during school and had earned over $5,000 in the last year so she was fine that way. When her job came to an end because of COVID-19, she did qualify for the CERB and has been claiming that benefit. Her question was “What about the summer months?”

So in the summer months, she had no guaranteed work for the summer months, it’s not like there was a contract already in-place, she had a job for the summer, it was guaranteed and now she lost it because of COVID-19.

If that had been the case she would be able to continue claiming the CERB, but that wasn’t the case. Now she’s left looking for a job like many other students are this summer. If she has trouble finding that work for the summer, she could claim CESB.

Now it’s going to take a separate application, it’s not as generous as the CERB but it’s still not bad, it’s free money so don’t hesitate to apply for it. But keep in mind as well that the government will not let you claim both the CERB and CESB in respect to the same period of time so you can’t double dip.

But still if you do qualify make sure apply, because it is free money and it’s going to help you. (June 29, 2020)

Managing your portfolio amid ongoing waves of volatility

Roland from Toronto:

I’m finding it really difficult to sit and watch our (risk adverse) mutual funds fluctuate so greatly.

The advice we get from the bank from the on-set (early to mid-March) is that it will return to the original value and to be patient. Even when everyone was selling and things started to slide, we were told to hold on versus protecting our assets.

While we still haven’t recovered from initial losses from March, I wonder if it’s too late to protect what we already have in event there is another downturn this fall.

What types of guaranteed investments can we move our mutual fund money to until we get over this hurdle? (June 29, 2020)

Frank Settino, investment counsellor at Kerr Financial:

You are in good company because most investors find it difficult to deal with the volatility that comes with investing in equity markets. However, with the added volatility there is the prospect of generating rates of return that are well above guaranteed investments over the long-term. The long-term is measured in years and not months.

If you feel uncomfortable with the fact that the value of your investments has fallen below the original value, we suggest that you review your risk tolerance and time horizon. As a result, you may discover that based on your investor profile your current investments are not suitable for you.

If this is the case you may want a much smaller allocation to equities that typically exhibit greater volatility, and a larger allocation to bonds and guaranteed investment products that provide stable income and preserve capital. In reducing your exposure to investment risks tied to equities, you should also expect to generate lower returns over the long-term. (June 30, 2020)

To have your personal finance question answered an industry professional, send an email to askbnnbloomberg@bellmedia.ca.

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Proposed provincial corporation looks to expand investment activity – Calgary Herald

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A new bill presented in the Alberta legislature by the UCP government on Tuesday aims to attract investment in the province’s key industries to help repair the damage done by the COVID-19 crisis.

Economic Development, Trade and Tourism Minister Tanya Fir presented Bill 33, the Alberta Investment Attraction Act, which would create an arm’s length corporation responsible for stimulating national and international investments primarily in the energy, agriculture and tourism industries to fuel growth in the economy.

If passed, the act would see an $18-million, three-year commitment from government, and would also look at “pursuing investment opportunities in high-growth industries such as technology, aviation and aerospace and financial services,” a statement on the proposed bill read.

“Our government realizes we must redouble our efforts to generate new sources of revenue to keep our economy moving,” Fir said during a news conference Tuesday. “As we recover from COVID-19, Alberta’s economic recovery will count heavily on new, private capital investment to help restore and stabilize business growth.”

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Perfect Day Expands Series C to $300 Million Led by CPP Investments After Breakthroughs in Animal-Free Dairy Production Capabilities – Financial Post

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Food Tech Leader Proves Strong Positioning and Supply for Sustainable Animal-Free Dairy Products Amid Global Food Supply Challenges Exposed by COVID-19

BERKELEY, Calif. & TORONTO — Today, pioneering animal-free dairy maker, Perfect Day, announced the expansion of its Series C to $300 million through a new tranche led by Canada Pension Plan Investment Board (CPP Investments). This follows an initial $140 million C round shared late last year, which was met with excitement and additional inbound interest after production breakthroughs in the company’s proprietary flora-made dairy proteins.

Over the past several months, the company has doubled its ability to produce its hallmark protein, while substantially reducing costs several years ahead of expectations. These production milestones — coupled with an enlarged Series C round led by $50 million from CPP Investments’ Thematic Investing group, and bolstered by long-time supporters Temasek and Horizons Ventures — mark the beginning of a new chapter for the Bay Area startup. Perfect Day’s flora-made protein also recently achieved a major regulatory milestone in the successful completion of FDA’s review of its Generally Recognized As Safe (GRAS) status.

“We never doubted we’d reach this point, we just didn’t expect to get here so quickly,” said Ryan Pandya, co-founder and CEO of Perfect Day. “And, thanks to our world-class team and investors, we’re not planning to take our foot off the pedal anytime soon. The coronavirus pandemic has shown just how fragile our food system is. We’re committed to building real change that prioritizes diversity, agility, and resilience.”

While the dairy industry has experienced a supply glut in the face of COVID-19, driven by long production cycles, centralized manufacturing, and limited processing facilities, Perfect Day holds a unique advantage. By producing dairy proteins through fermentation in microflora instead of cows, the company and its partners can quickly increase or decrease production depending on demand, and can allocate a stable protein supply to where it is needed most. Perfect Day also plans to build a turnkey network of localized animal-free dairy protein producers and processors to avoid unnecessary supply chain bottlenecks.

“This marks the first investment into Thematic Investing’s new Climate Change Opportunities strategy, which will focus on innovative companies that are well positioned to respond to the challenges posed by climate change,” said Leon Pedersen, Managing Director, Head of Thematic Investing, CPP Investments. “Sustainable technologies like Perfect Day are poised to capture structural shifts in industrial practices, physical resources and consumer preferences for environmentally conscious options, which are well-suited to our long term investing approach. We look forward to building our partnership with the company and its management team.”

“We’re grateful for the continued support of our investors from all over the world,” said Perumal Gandhi, co-founder of Perfect Day. “But, of course, our mission is about much more than money. We continue to believe the next generation of protein will be driven by production speed, price, and taste, and we’ll have several exciting updates to share in the months ahead as our commercial partners start to build momentum.”

About Perfect Day

Founded in 2014 by CEO and co-founder, Ryan Pandya, and co-founder, Perumal Gandhi — Perfect Day is on a mission to revolutionize how dairy products are made to create a kinder, greener world. Instead of relying on cows, the Bay Area startup utilizes fermentation in microflora to create proprietary ‘flora-made’ dairy protein. Perfect Day’s ingenious animal-free protein can be used across a range of products — from ice cream and milk to cheese and butter — to deliver the same taste and texture of dairy with none of the environmental, animal welfare or food safety concerns. Foods made with Perfect Day protein can be labeled as vegan and lactose-free and are coming soon to a fridge near you as the company expands its network of food and dairy manufacturing partners. For more information, visit perfectdayfoods.com or follow along on Facebook, Twitter, Instagram and LinkedIn.

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that invests around the world in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments in public equities, private equities, real estate, infrastructure and fixed income are made by CPP Investments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At March 31, 2020, the Fund totalled $409.6 billion. For more information, please visit cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

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Contacts

Media Contact:
Victoria Rainone
Demonstrate PR
perfectday@demonstratepr.com
1-415-400-4214

Nicki Briggs
Vice President of Communications
Perfect Day
press@perfectdayfoods.com

Darryl Konynenbelt
Director, Media Relations
CPP Investments
dkonynenbelt@cppib.com
1-416-972-8389

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