SMT Capsulation Magnetic SMD Reed Switch
SMT capsulation magnetic SMD Reed Switch is processed for SMT capsulation. It has resin with mixed plastic and black color housing case, to protect the fragile glass reed switch inside. This kind of design accommodates the RS itself very stable and strong status in the Surface Mounted Processing...
SMT capsulation magnetic SMD Reed Switch is processed for SMT capsulation. It has resin with mixed plastic and black color housing case, to protect the fragile glass reed switch inside. This kind of design accommodates the RS itself very stable and strong status in the Surface Mounted Processing production craft.
The SMT capsulation magnetic SMD Reed Switch is also called SMD reed switch. It has 2 types. 1 is the short feet style, 2 is the long straight feet style. It depends on the target application.
We are available to provide your target style of SMD.
Again for the last word of the product website page, it is featured by short and brief with key introduction of the product. More information, welcome to contact us. CiAn welcome you :)
I. Overview of Pakistan
1. Basic situation
Pakistan is located in the northwest of the subcontinent of South Asia. It borders India in the South Asian subcontinent, borders China in the northeast, borders Afghanistan in the northwest, borders Iran in the west, and borders the Arabian Sea in the south. Its coastline is 980 kilometers long and its land area is 796,095 square kilometers, slightly larger than China's Qinghai Province. The terrain is high in the northwest, low in the southeast, and the mountainous and hilly areas account for about three-fifths of the country's total area. There are altogether four provinces, the capital Islamabad, the Pakistani-controlled Kashmir region and seven Federally Administered Tribal Areas. Karachi is the largest city and commercial center in Pakistan. Other major economic centers include Lahore, Faisalabad, Multan and others.
Pakistan is a multi-ethnic country with a total population of 197 million people (2016). It is the sixth most populous country in the world, with 63% of Punjab, 18% of Sindh, 11% of Patan, and 4% of Baluchi. About 8,000 overseas Chinese in Pakistan are mainly concentrated in the more economically developed provinces of Punjab and Sindh. According to the Constitution, Pakistan’s state religion is Islam, and Islam accounts for 95% of the country’s total population. There are also Christianity, Hinduism and Sikhism, but only 5% of the country's population.
Pakistan implements a semi-presidential republic, and the federal parliament is the supreme legislative body, which consists of the National Assembly (lower house) and the Senate (upper house). The federal government is the highest administrative organ, and the federal cabinet is composed of the prime minister, ministers, and ministers of state. Each ministry is chaired by the permanent secretary. The provincial government is headed by the federal government, but the Constitution provides for provincial autonomy. Pakistan has a multi-party system with about 200 existing parties. In May 2013, Pakistan’s Muslim League (Sharif) won the election. Party leader Nawaz Sharif became prime minister and became the first politician in Pakistan’s history to serve as prime minister. In July 2017, Pakistan’s Supreme Court dismissed Sharif’s prime minister’s qualifications on grounds of alleged corruption. On August 1, 2017, Shahid Hakan Abraham, the candidate of the ruling Pakistan Muslim League (Sharif), defeated other competitors and was elected as the new prime minister.
Pakistan pursues an independent and non-aligned foreign policy. It focuses on developing relations with Islamic countries and China; it commits itself to maintaining peace and stability in South Asia, and actively strengthens relations with western countries while strengthening solidarity and cooperation with developing countries; and supports peace in the Middle East. The process advocates the destruction of weapons of mass destruction; calls for the establishment of a fair and reasonable new international political and economic order; attaches importance to economic diplomacy and requires developed countries to take practical measures to narrow the gap between North and South. At present, Pakistan has established diplomatic and consular relations with more than 120 countries in the world.
Pakistan's main resource reserves are coal, iron, bauxite, copper, chromium, lead, zinc, gold, marble and precious stones, among which coal, copper, chromium, marble, coal and precious stones are abundant in reserves.
Economic and social development
This was boosted by the significant recovery in agriculture, the healthy development of the service sector, and the increase in large-scale manufacturing output. Pakistan’s GDP grew by 5.3% in the fiscal year 2016-2017 (starting from July 1st and ending on June 30th the following year). Higher than the 4.5% growth in the previous year, reaching the highest growth rate in the past decade, but less than the expected growth target of 5.7%. During the same period, Pakistan’s large-scale manufacturing output increased by 5.6%, per capita income increased from US$1,334 to US$1,629 in FY2013, overseas remittances increased to US$19.3 billion, Federal Revenue Commission’s tax revenue was 336 billion rupees, and the fiscal deficit was reduced to 5.8% of GDP. , Foreign exchange reserves increased to 21.4 billion U.S. dollars, and foreign direct investment increased to 2.4 billion U.S. dollars.
In monetary and financial terms, in the 2016-2017 fiscal year, the Central Bank of Pakistan kept the benchmark interest rate unchanged at 5.75%, financing costs were the lowest in 43 years, and the broad money supply (M2) was 1.76 trillion rupees, an increase of 13.69% year-on-year. The growth rate of 13.67% for the fiscal year was flat. Pakistan’s exchange rate situation is grim. In the era of Musharraf, the Pakistani rupee maintained a stable exchange rate of more than 9 years, and its parity with the U.S. dollar remained at around 60:1. After Musharraf resigned from the military in 2007, the Pakistani rupee fell all the way. From the end of 2008 to the end of 2013, the exchange rate of the US dollar against the rupee rose from 1:64 to 1:109.75 in the open market. In 2014, with the continuous growth of foreign exchange reserves held by the Central Bank of Pakistan, the rupee began to rise. In 2015, the rupee exchange rate was basically stable. In 2016, the exchange rate of the Pakistani rupee against the U.S. dollar remained at 105:1.
With regard to fiscal revenues and expenditures, the effect of the Pakistan government's fiscal deficit control in fiscal year 2017-2018 has begun. From July to September 2017, the fiscal deficit stood at Rs 32,400 crore, accounting for 0.9% of GDP, a decrease of approximately 26% from the same period last year. This indicates that the financial situation of the Pakistani government has improved and the expected new elections will stimulate the dramatic increase in the government deficit. The good performance of Pakistan’s deficit was due to strong tax support and lower fiscal spending. In the first quarter of 2017, Pakistan’s tax revenue stood at Rs. 765 billion, an increase of 20% over the same period of last year; fiscal expenditure was Rs. 894 billion, which was a decrease of 2% from the same period of last year.
In terms of trade and international payments, Pakistan's total exports during fiscal year 2016-2017 were 20.448 billion U.S. dollars, a decrease of 1.63% from the previous fiscal year; imports totaled 53.036 billion U.S. dollars, a year-on-year increase of 18.67%; and the trade deficit was 32.578 billion U.S. dollars. It expanded 36.32% annually. The current account deficit reached $12.1 billion in fiscal year 2017, compared to $4.9 billion in fiscal 2016. The surge in imports, lack of exports, and the reduction in overseas remittance revenues are the main reasons for the current account deficit, and have put pressure on Pakistan’s foreign exchange reserves. As of June 23, 2017, Pakistan’s foreign exchange reserves stood at US$ 16.376 billion.
In terms of industrial structure, Pakistan's three industries have bright spots in the fiscal year 2016-2017. The agricultural output value increased by 3.46% year-on-year, basically achieving the fiscal year target of 3.5%, far higher than the growth rate of 0.27% for the fiscal year 2015-2016. The main grain output reversed the decline of 4.97% in the previous fiscal year, an increase of 3.02% year-on-year. Forestry, animal husbandry and fisheries achieved growth of 14.49%, 3.43% and 1.23%, respectively. The secondary industry increased by 5.02%, and the manufacturing industry increased by 5.27%, far higher than the growth rate of 3.66% in the previous fiscal year. Among them, the growth rate of large-scale manufacturing industry, which accounted for more than 80% of output value, rose from 2.94% in 2015-16 financial year. To 4.93%. The tertiary industry grew 5.98% year-on-year, higher than the 5.55% growth rate in the previous fiscal year, and exceeded the 5.70% fiscal year target, which is the most important driving force for Pakistani economic growth. Among them, the financial and insurance industry increased by 10.77%, the general government service increased by 6.91%, the wholesale and retail trade increased by 6.82%, and the transportation and warehousing industry increased by 3.94%.
In terms of monetary policy, the Central Bank of Pakistan has been striving to achieve a balance between promoting economic growth and curbing inflation in recent years. From November 2014 to May 2015, the Central Bank of Pakistan cut interest rates four consecutive times. At the May 2015 monetary policy meeting, the Central Bank of Pakistan narrowed the country’s “interest rate corridor” (the reverse repurchase rate and repurchase rate at both ends of the corridor) from the original 250 basis points to 200 basis points and introduced A new interest rate indicator, the PBOC target interest rate (also known as the policy rate), is located within the “interest rate corridor”. In FY 2017, Pakistan’s monetary policy aims to create a favorable macroeconomic policy environment and promote the recovery of national and private investment. On September 30, 2017, the Central Bank of Pakistan’s Monetary Policy Committee decided to keep the benchmark interest rate unchanged at 5.75%.
Regarding fiscal policy, in fiscal 2017, Pakistan’s fiscal deficit as a percentage of GDP rose to 5.8%, which was higher than the 4.6% in FY16. It is estimated that Pakistan’s fiscal deficit in fiscal year 2018 will reach 4.1% of GDP. Given that various projects under the China-Pakistan Economic Corridor (CPEC) may increase provincial expenditures, achieving the 4.1% target in FY18 may be difficult to achieve.
On November 1, 2016, Standard & Poor's upgraded Pakistan’s long-term sovereign debt rating from B- to B. Standard & Poor's believes that Pakistan’s policy development has improved economic performance and financial status. The IMF’s medium-term loans have helped Pakistan resume its macroeconomic recovery. The construction of the China-Pakistan Economic Corridor helps boost Pakistan’s economic growth, but its tax base is weak, security risks, and governance levels Insufficient infrastructure and backward infrastructure and other structural issues still restrict the development of commerce. In July 2017, the international rating agency Moody's maintained Pakistan’s B3 issuer and senior unsecured rating and maintained stable expectations for continued economic reforms. At the same time, Moody’s warned that the ongoing terrorist attacks, domestic political and geopolitical risks are all correct. Pakistani ratings form a constraint. In February 2017, Fitch Ratings announced that Pakistan’s long-term foreign currency and local currency issuers defaulted to “B” and had a stable outlook. Previously, the rating was “B-”.
The World Bank's Doing Business 2017 Report ranked 190 economies in terms of ease of doing business globally. Pakistan ranked 144th, which is an increase of 4 places from 2016.
The 2017-18 Global Competitiveness Index (GCI) released by the World Economic Forum shows that Pakistan is ranked 115th among all 138 countries. It belongs to the bottom level of South Asia. Corruption is the most serious factor facing business in Pakistan. This ranking has been higher than the 122nd place in 2016-17, but it is at the lowest level compared to other South Asian countries.
Economic and Trade Cooperation with China
China and Pakistan are friendly neighbors whose mountains and rivers depend on each other. The two peoples have a long tradition of friendship. As early as more than a thousand years ago, the high-ranking Fa Xian of the Chinese Jin Dynasty and the high-profile Xuanzang of the Tang Dynasty had visited many parts of Pakistan. On January 5, 1950, Pakistan recognized the People's Republic of China. On May 21, 1951, the two countries officially established diplomatic ties. Since the establishment of diplomatic relations, the two countries have carried out all-round cooperation. In January 1963, the two countries signed the first trade agreement. In October 1982, the two countries established a joint committee on economic, trade, and scientific and technological cooperation between China and Pakistan, and so far it has held 14 meetings. In 2006, the two countries signed a free trade agreement and began implementation in July 2007. In February 2009, the two countries signed the "China-Pakistan FTA Agreement on Trade in Services" and China became Pakistan's second largest trading partner.
In April 2015, President Xi Jinping paid a state visit to Pakistan and held talks with Pakistani Prime Minister Sharif in Islamabad. The two sides unanimously agreed to upgrade China-Pakistan strategic cooperative partnership to an all-weather strategic cooperative partnership and continuously deepen the connotation of the Sino-Brazilian fate community. China and Pakistan are friendly from generation to generation.
Benefiting from the continuous advancement of China-Pakistan good political relations and economic corridor projects, China-Pakistan economic and trade relations are developing rapidly and bilateral trade is growing rapidly. At present, China is Pakistan’s largest trading partner and there is strong mutual complementarity between the two sides. Pakistan mainly exports marble, handmade products, rice, foodstuffs, cotton and its products, and leather raw materials to China; it mainly imports building materials, electronic products, iron and steel, plastic products and other industrial products from China to meet the needs of domestic infrastructure development. The bilateral trade volume between China and Pakistan increased from 6.98 billion U.S. dollars in 2008 to 19.14 billion U.S. dollars in 2016.
II. Analysis of Investment Opportunities and Risks of Chinese Industrial and Commercial Enterprises in Pakistan
According to data released by the National Bank of Pakistan, Pakistan’s investment in attracting China in fiscal year 2017 amounts to US$ 1.185 billion, accounting for nearly 50% of foreign direct investment in Pakistan. The areas of attracting investment are concentrated in the electric power industry, the food industry and the construction industry. In particular, the construction of the China-Pakistan Economic Corridor has become a new driving force for Pakistan’s economic development (310328, fund).
1. Investment opportunities for Chinese companies
Pakistan and China are all-weather strategic partners. The Sino-Pakistani relations are very close and the cooperation is very tacit. On most issues, Pakistan can be considered from the perspective of the Chinese side. The two sides support each other and form the highest level of partnership. Benefiting from this, Chinese companies can avoid some political and security risks to a certain extent by investing in Pakistan. In addition, the Pakistani government is skeptical about the investment of Western countries’ enterprises, considering national security, bilateral mutual trust, and China’s rich experience in infrastructure construction and operation and management, and considers China as the preferred partner in many fields.
The early projects of the China-Pakistan Economic Corridor were mainly concentrated in the field of energy and infrastructure construction, involving coal-fired power, wind power, hydropower, highways, airports, transmission and distribution lines, and natural gas pipelines. The gradual completion of these projects can significantly ease the energy shortage and transportation problems that restrict the economic development in Pakistan, improve the investment environment in Pakistan, reduce investment costs and investment risks, and pave the way for later industrial cooperation and attract more Chinese enterprises to invest in Pakistan.
The Risk Analysis of Chinese-funded Enterprises
The first is the economic downside risk. Although overall macroeconomic indicators such as interest rates, inflation rates and foreign exchange reserves in Pakistan tend to be good, the endogenous growth of economic growth is insufficient and the export competitiveness is declining. In the future, uncertainties such as debt and exchange rates will still face.
The second is business environment risks. Pakistan’s government departments have low administrative efficiency, long administrative approvals, and complicated procedures, which increases the institutional transaction costs of corporate investment. In addition, Pakistan’s tax burden is relatively high, and infrastructure such as water, electricity, and gas are incomplete, and the overall business environment needs further improvement.
The third is labor market risk. Due to the long-term instability in the domestic situation in Pakistan, a large number of Pakistani professionals with higher education continue to flow out. To conduct business activities in Pakistan, it is necessary to prepare for the shortage of labor and to provide technical training for local employees.
The fourth is the risk of energy shortage. Pakistan has a shortage of energy. In some regions, electricity supply is insufficient for about 12-18 hours a day. Karachi, the national business and economic center, is also plagued by energy shortages, which restricts economic development.
Fifth, infrastructure such as transportation is not perfect. The national highway network in Pakistan is backward, which is less than 50% of the total length of the road. About 70% of the main roads are one-way streets, and most of the roads lack maintenance and maintenance. The same lack of rail transport, making a lot of transport rely on land and water transport. Therefore, conducting business activities in Pakistan needs to take into consideration frequent delays in cargo shipments.
III. Analysis of Development Opportunities and Risks of Chinese Banking Business
In recent years, the banking industry in China and Pakistan has developed rapidly. At present, there are two Chinese-funded commercial banks that are open to business in China, including Industrial and Commercial Bank of China (601398) and Bank of China (601988). In addition, the National Development Bank and the Export-Import Bank of China established a working group in Pakistan to be responsible for the marketing and post-lending management of their respective projects in Pakistan.