China 

Head of China’s biggest state firm in Hong Kong urges Beijing to deepen market reforms

The head of China’s largest and oldest state-owned company in Hong Kong has recommended that the government should let competitive forces play a bigger role in certain market-oriented industries.The government should continue to dominate industries monopolised by state entities, such as power distribution and transmission, whereas industries that are already populated by private enterprises or quasi-state companies should be allowed to compete.“Let the fittest survive,” said Fu Yuning, chairman… Source link

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Japanese carmaker Nissan’s China growth strategy will remain unchanged in post-Carlos Ghosn era

Nissan Motor expects China’s car market to recover in the second half, as the Japanese carmaker moves on from the scandal surrounding former chairman Carlos Ghosn.Makoto Uchida, senior vice-president of Nissan, said Beijing’s efforts to support the industry, such as subsidies and tax incentives, would effectively result in a turnaround.Uchida said Nissan will not change its China strategy despite the Ghosn distraction and plans to leverage its research and development capability in the country… Source link

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Trung Lương- Mỹ Thuận expressway to be completed by 2020 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — The Trung Lương- Mỹ Thuận expressway project will resume this month after a five-month delay and is expected to be completed by 2020. Mai Mạnh Hồng, general director of the Trung Lương- Mỹ Thuận Joint Stock Company, said the delay was caused by a lack of investment and problems in administrative procedures. On April 13, contractors brought machines and vehicles, and additional workers to start the project again. The company will hold a conference on Saturday to discuss existing problems and resources needed to speed up construction. From…

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China’s central bank suggests it will stem flood of money into economy

China’s central bank, which has been pumping funds into the fragile economy over recent months, has suggested it will not flood the market with excessive liquidity, in a quarterly monetary policy document, released on Monday.The People’s Bank of China (PBOC) summarised its first quarter monetary policy committee meeting, during which the PBOC said it will block the “general valve” of money supply, showing a preference for restraint and suggesting major moves towards easing are unlikely.The PBOC… Source link

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Hong Kong developer Henderson Land sells a third of 101 units at Yuen Long project

Hong Kong developer Henderson Land sold about a third of the 101 apartments on offer at its Reach Summit project in Yuen Long on Tuesday, in further evidence a recovery in the city’s property market was taking hold after a five-month correction in prices.The apartments, ranging from 255 to 381 sq ft in area, were offered at an average discounted price of HK$16,088 per square foot, an increase of 1.3 per cent over the average price of HK$15,881 offered when the project was launched late last… Source link

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China 

China presses on with interest in UK’s high speed rail project with high level meeting in Beijing

China is pressing ahead with its interest in the United Kingdom’s controversial HS2 project, the largest high speed rail project in Europe, despite growing concerns over its cost and economic benefits.Members of China’s government and biggest state-owned railway companies met with HS2 chief executive Mark Thurston in Beijing earlier this month, signalling China’s interest in the £55.7 billion (US$72.9 billion) project, which will be funded by British taxpayers. China is bidding for construction… Source link

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Chinese electric vehicle maker Xpeng unveils P7 four-door coupe at Auto Shanghai 2019, months after SUV roll out

Chinese electric vehicle maker Xpeng unveiled the P7 four-door coupe, its second mass-market model in four months, at Auto Shanghai 2019 on Tuesday. It will start deliveries from the second quarter of 2020 and will announce a price later.“With P7, we are targeting the new generation of China … Xpeng Motors’ unique differentiation is its vision and corporate DNA,” said He Xiaopeng, the company’s founder and chairman. Brian Gu, a veteran JPMorgan investment banker and chairman of its Asia-Pacific… Source link

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Vietnam 

Central bank asks for tightened control over real estate loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Bank of Việt Nam has asked for control over real estate loans of credit institutions to be enhanced, especially in areas showing signs of land price fever. — Photo vneconomy.vn HÀ NỘI — The State Bank of Việt Nam (SBV) has asked for the control over real estate loans by credit institutions to be enhanced, especially in areas showing signs of land price fever. SBV’s Governor Lê Minh Hưng in a recent document about lending operations in 2019 asked its branches and banks to keep a close…

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Hong Kong insurer Blue Cross adopts blockchain to speed up medical claims, eliminate fraud

Hong Kong’s insurance firms are fast embracing technology to keep up with their more nimble rivals.On Tuesday, Blue Cross (Asia-Pacific) Insurance said it has become the first insurer in the city to launch a blockchain-backed solution to speed up medical insurance claims and prevent fraud, adding that the distributed ledger technology will also help the company cut costs.Rivals Prudential, HSBC Life and Bowtie Insurance have started selling insurance products and processing insurance claims… Source link

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Vietnam 

Vietnamese shrimp exporters to US to enjoy zero tariffs – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HÀ NỘI – The US has exempted anti-dumping tariffs for 31 shrimp exporters of Việt Nam in the 13th period of review (POR 13), according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).  The US Department of Commerce (DoC) has recently announced the preliminary results of the POR 13 reviewing the anti-dumping tariff on Vietnamese warm-water shrimp exported to the US in the period from February 1, 2017 to January 31, 2018. The DoC concluded that frozen shrimp products of two mandatory respondents in the review, Sao Ta…

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