BUSINESS intelligence platform China Money Network has unveiled its new service called the China Expert Network.

Relying on the more than 60,000 registered users across the China Money Network family of websites emanating from ChinaMoneyNetwork.com, the China Expert Network connects multinational businesses with talented 'China hands' who can provide more transparency to a marketplace that often seems opaque.

With a focus on investment and finance, the China Expert Network brings together industry experts and practitioners focused on ESG, special situations investing, technology, startups, cleantech, real estate, media, construction, healthcare, and manufacturing.

"Clients frequently ask for access to the high-level industry experts who subscribe to our platform's data, so the China Expert Network is a new framework that gives our subscribers and our clients a win-win opportunity," said Nina Xiang, founder and managing editor at China Money Network.

"We've structured our service to give our subscribers a high level of privacy and our clients gain an equally high level of compliance."

Subscribers to China Money Network's data and news services can update their profile information to make themselves available as experts for special consulting projects. Ater their expert profiles are selected by a client, a meeting or formal engagement is held wherein the expert is paid for their time and expertise. Clients, in turn, comply with strict compliance procedures to ensure their business and regulatory goals are met.

More information about the China Expert Network is found at https://www.chinamoneynetwork.com/expert-network

About China Money Network

China Money Network delivers primary data for China's primary markets. Subscribers on the platform follow China's smart investments, special situations and technology innovations every day. By tracking China's private equity, venture capital and technology sectors, China Money Network delivers actionable intelligence to its subscribers. We connect the data points to give global investors the tools to execute deals in China, deals that otherwise would simply never take place. The company's Chinese language platform is at www.zhongjintoux.com. China Money Network, founded in 2011 in Shanghai, operates from satellites in Hong Kong, Beijing, Shenzhen, and Hangzhou. 

https://www.chinamoneynetwork.com

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UP TO 43, 000 new homes will not be built in the next 12 months as a result of COVID-19 according to new economic modelling released today.

Denita Wawn, CEO of Master Builders Australia said, “The new modelling conducted by Master Builders Australia shows the devastating impact the lockdown of the economy is having on the building industry, the economy and the community.

“In the light of the economic impact being wrought by COVID-19 we have now revised our previous industry forecast which was released in February this year. While we obviously did not expect good news, the scope and depth of the potential damage to our industry and the economy is devastating.

“We previously forecast that there would be around 159,000 new housing commencements in 2020/21. We now expect there to be only around 116,000, a drop of 27 percent,” Ms Wawn said.

“The housing industry is vital to the economy and jobs. There are nearly 400,000 building and construction firms in Australia and more than 90 percent do work in the residential building sector. Around 388,000 of these are SMEs.

“There is already a current shortfall in achieving the required target of 200,000 homes a year which means that the impact on housing needs of our community will be severe,” Ms Wawn said.

“To be clear, Master Builders commends the Federal Government and State and Territory Governments for the stimulus measures they have already announced. We have proposed a range of stimulus measures to the Federal Government and are working with them in an effort to advance them.

“But what this forecast shows is that stimulus measures cannot wait. Our industry, the economy and the community cannot afford to wait months,” she said.

“Our industry is the nation’s third largest, it’s the largest provider of full-time jobs in Australia and they employed by 400,000 businesses, over 90 percent of which are SMEs. If governments do not act to support us now then the battle against the COVID-19 economic emergency could be lost just as the battle against the health emergency is starting to be won.

“We want the building and construction industry to be in shape to rebuild Australia. We want to protect the viability of hundreds of thousands of small businesses and the jobs of a million Australians. For that we need governments to act now,” Ms Wawn said.

www.masterbuilders.com.au

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THE House of Representatives Standing Committee on the Environment and Energy will hold a public hearing on the National Greenhouse and Energy Reporting Amendment (Transparency in Carbon Emissions Accounting) Bill 2020 on May 1, 2020.

Details of the public hearing are:

Date: 1 May 2020
Time: 11am – 2.35pm AEST
Location: via teleconference

The Bill seeks to amend the National Greenhouse and Energy Reporting Act 2007 to capture ‘scope 3’ indirect greenhouse emissions in all reporting obligations, and to ensure that the Federal Government tables Australia’s national greenhouse gas inventory estimates in Parliament each quarter. 

The Committee will hear from:

• the Department of Industry, Science, Energy and Resources;
• the Clean Energy Regulator;
• Doctors for the Environment Australia;
• the Australian Industry Greenhouse Network; and
• the Australasian Centre for Corporate Responsibility.

Chair of the Committee, Ted O’Brien MP said the Committee looked forward to the public hearing.

"We welcome a discussion about the potential costs and benefits of the Bill, and the opportunity to gather information to assist the Committee in making its recommendations," Mr O’Brien said.

"This hearing is a valuable part of the Committee’s work in assessing the proposed legislation."

In order to ensure public safety during the COVID-19 situation, Committee members and witnesses will all participate in the hearing remotely, via teleconference. Interested members of the public are invited to listen to the broadcast, available on the Parliament House website

Further details about the Bill and the Committee’s work are available on the inquiry website.

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THE FEDERAL Government is being urged to work with industry, unions, and experts to solve critical vulnerabilities in the nation’s supply chains after a leaked Defence Department report revealed essential services would break down within months in a major crisis.

The union also urged the public release of the full report, commissioned by the Defence Department and produced by Engineers Australia, saying the public had a right to know exactly what impacts a breakdown of international trade could have on key sectors of the economy.

The MUA has warned repeatedly that Australia’s reliance on foreign-owned shipping — which carries 98 percent of the country’s imports and exports — make our island nation highly vulnerable to disruptions caused by natural disaster, military conflict, or economic crisis.

The union has been advocating for action since 2015, including through submissions to parliamentary inquiries and by commissioning shipping expert John Francis to produce a report, ‘Australia’s Fuel Security – Running on Empty’, which examined the nation’s reliance on foreign-owned tankers to supply petrol, diesel and jet fuel.

MUA assistant national secretary Ian Bray said the COVID-19 pandemic had provided a stark warning, causing shortages of medical supplies and essential products across the economy.

“This Defence Department report has vindicated our repeated warnings that Australia is incredibly vulnerable to any major crisis that impacts on international trade, revealing how quickly essential services and the broader economy would grind to a halt,” Mr Bray said.

“Of particular concern are indications that essential services like clean water could be impacted within weeks, along with our health system, while the fuel needed to transport food and essential goods would run out in less than two months. Australia has received a clear warning from COVID-19, which has shown how quickly shortages of health products and essential consumer goods can occur when supply chains are impacted.

“Unless there are actions taken to address these risks, a future military conflict, natural disaster, economic crisis or pandemic that cuts seaborne trade will result in catastrophic consequences.”

Mr Bray said the union was urging the Federal Government to release the full Defence Department report and convene an urgent round-table of experts, including industry representatives and unions, to develop potential solutions.

“There are solutions available that would make the country more resilient to a crisis, such as creating domestic stockpiles of fuel and other essential products, increasing local manufacturing capacity, and creating a strategic fleet of Australian-owned vessels to carry essential goods, but they will need cooperation and clear leadership to deliver,” Mr Bray said.

“The COVID-19 crisis has provided an unprecedented opportunity to put politics aside and work together to defend our nation’s long-term interests by securing supply chains and addressing clear vulnerabilities.

“The union has been warning for years that the decline of Australian shipping is a national security risk — a view vindicated by this Defence Department report — which is why we continue to urge the Australian Government to invest in the creation of a strategic fleet.

“When 98 percent of our trade depends on foreign-owned ships, with no guarantee we could continue to access them in a crisis, it is clear that we are in an incredibly vulnerable position.”

The MUA’s report Australia’s Fuel Security – Running on Empty: https://bit.ly/31cDisq

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