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Event Brief: Belt and Road Initiative Forum in Xiamen, China

Xiamen – On September 9th, FAO Global CEO Brandon Hughes, attended an all-day forum focused on the Belt & Road Initiative (BRI) from both a Chinese business perspective and government. This forum was part of the 20th China International Fair for Investment and Trade held in Xiamen City, Fujian province, China. The event was attended by provincial and city leaders from Xiamen and Fujian, as well the Ambassador to Beijing from Slovakia, the U.S. State Department, and an emissary from Egypt. – Brandon Hughes

Malaysia May Cancel Two Major Belt & Road Projects

On Tuesday, August 21, Malaysian president Mahathir Mohamad concluded his first visit in Beijing. During his 5-day visit, Mohamad re-negotiated with China for some $22 billion U.S. dollar infrastructure projects under the Belt and Road Initiative (also known as the One Belt One Road (OBOR) Initiative), in an effort to free Malaysia from their national debt crisis. Unlike his Beijing-friendly precursor, Mahathir is attempting to cancel two major China-backed infrastructure projects already in agreement with Beijing. – Weiting Li

Chinese Enterprises Expand Oversea by Buying Utilities

As of May 30, Chinese construction firm, Gezhouba Group, acquired Brazilian water supply company Sistema Productor São Lourenço as part of the expansive the Belt and Road Initiative. The project is expected to help alleviate water shortage problems in Sao Paulo. Some experts are concerned that China is trying to expand its renewable energy influence in international markets by buying up foreign utility firms. – Ziqing Zhang

Canada blocks Chinese company from acquiring Aecon

In the last week of May, the Canadian government announced that it was blocking a proposed $1.18 billion acquisition of the Canadian firm Aecon Group Inc. by the China Communications Construction Company (CCCC), citing national security concerns. Had the deal gone through, CCCC would have potentially received troves of documents from the Canadian government detailing government contracts, including nuclear reactors agreements.