Money 

Beijing promises wider financial access for foreign investors as US-China trade war talks enter crucial stage

China continued its charm offensive for foreign investors, renewing promises to open its state-controlled financial services sector further and ensure equal treatment.The latest move came as the talks between China and the United States have entered a crucial stage, with the remaining sticking points in the text of a trade agreement expected to be discussed when US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin visit Beijing on Thursday.Chinese Vice-Premier Liu… Source link

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China 

EU accelerates moves to block China’s market access

Europe is moving unexpectedly quickly to restrict Chinese access to big public projects ranging from railways to telecoms.Only a week after Brussels branded Beijing as a “systemic rival”, EU leaders attending a summit on Thursday are expected to yield to pressure from Berlin and Paris and “endorse” a law that will restrict the access of Chinese companies to the EU’s €2.4 trillion-per-year public procurement market.Many industrial EU countries are increasingly frustrated that their leading… Source link

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Ecommerce 

Outbound travel market may be best bet for Visa, MasterCard should they finally gain access to China

While “cash or card?” is the usual question when standing at a cashier’s till in the west – in China the answer is neither.Visa and MasterCard, the world’s leading credit card companies accepted in over 200 countries, may eventually enter China after a 20-year wait as part of a potential US-China trade deal.But China’s transition towards a cashless and cardless society, with nine out of 10 internet users already paying for things with smartphones, means the card giants will likely look to work… Source link

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Home 

Will the US-China trade war improve access for American firms seeking to tap 1.4 billion people?

US President Donald Trump has delayed the application of additional tariffs on Chinese imports citing “substantial progress” in addressing the US demands for structural reform in the Chinese economy. This is the second article in a five-part series looking into these demands, which are the conditions for ending the trade war.1. The US demand: market accessThe Office of US Trade Representative (USTR) said in its Section 301 investigation report, which provided the legal grounds for Washington to… Source link

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Singapore 

HIV data leak: MOH aware only in 2016 that Mikhy Farrera Brochez had access to data, says Gan Kim Yong, Singapore News

While he first informed the authorities in 2012 that his partner had disclosed information about his HIV status to others and shared screenshots of this, Mikhy Farrera Brochez, the American at the centre of the leak of Singapore’s HIV Registry, was uncooperative and did not provide any evidence. The investigation hence did not make much headway, said Health Minister Gan Kim Yong in Parliament on Tuesday (Feb 12). Mr Gan was responding to questions from MPs about whether the Ministry of Health (MOH) had known about Brochez’s possible access to…

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Home 

Chinese broker shares surge after Beijing moves to widen foreign access to capital markets

Chinese brokerage firms jumped Friday morning, after China further loosened restrictions on both domestic brokers and foreign institutions to invest in the capital markets. The measures included combining two programmes – the Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) – to give foreign investors wider access to futures, options, bond repurchases and private equity funds. ChinaLin Securities soared 6.2 per cent to 9.20 yuan by noon close on the Shenzhen Stock Exchange. Sealand Securities and CSC Financial surged 3.3 per cent and 3.1 per cent…

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Singapore 

Doctor who leaked list of people with HIV can’t practise, has no access to national health database, Singapore News

SINGAPORE – The doctor who leaked the details of 14,200 people with confirmed HIV, and another 2,400 of their contacts – including sexual partners and drug users who could also be at risk of infection – is still on the Register of Medical Practitioners. But he no longer has a practising certificate, which is required to practise medicine in Singapore, said the Ministry of Health (MOH). Also, unlike other doctors, Ler Teck Siang no longer has access to confidential information of patients in the National Electronic Health Records (NEHR), which…

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China 

China’s central bank denies delaying Mastercard and Visa access to payments market

China’s central bank has denied reports that it is dragging its heels on opening the massive Chinese payments market to Mastercard and Visa. While Mastercard filed an application to provide yuan payment services in 2017, the card issuer retracted the application in June 2018, an unidentified official in the People’s Bank of China (PBOC) department that licenses payment services told a Chinese financial news portal. Visa was said to have retracted its original application in January 2018. It reapplied in April, according to wallstreetcn.com, but the central bank found that…

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Home 

Hong Kong brokers brace for hard times in 2019, urge regulators to speed up access to Greater Bay Area

Hong Kong’s smaller brokerages have lobbied local regulators to introduce measures that would allow them to broaden their ­market to the 70 million residents in the “Greater Bay Area”. Christopher Cheung Wah-fung, a lawmaker representing the financial services sector, said such measures were needed to help smaller companies survive. “The year 2018 was bad, but even tougher times are expected in 2019. The US-China trade war and Brexit have added to market uncertainties. Investors may avoid the stock market in 2019, and it could be tough for small brokers in…

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China 

Will China make good of its latest promise to give private firms more access in a market that favours the state sector?

China’s private sector, the driving force behind the country’s economic miracle over the last 40 years, is struggling amid the Chinese government’s campaign to reduce national debt and the trade war with the United States. This is the third story in a series that will detail the challenges private firms face and outline the government’s attempts to address them. In late October, the profit-losing state-owned automaker FAW Group received a 1 trillion yuan (US$145 billion) credit line from 16 of China’s biggest lenders, at the same time that Beijing reiterated…

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