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Tencent seeks new growth in year of transition as consumer businesses mature

Depending on whom you talk to, 2018 was either a bumper year for Tencent Holdings or a year to forget.The first Asian company to breach US$500 billion in market cap, the internet giant’s shares rose to an all-time high in January 2018, powered by its money-minting video games business and ubiquitous WeChat super app. Then came a much-chronicled government crackdown on content and gaming, which abruptly ended the party and wiped out almost half the company’s value by October.Tencent’s roller… Source link

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Vietnam 

Vietnam Expo 2019 to draw 500 businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A Korean pavilion at Vietnam Expo 2018. — Photo ven.vn Viet Nam News HÀ NỘI — As many as 500 enterprises from 23 countries and territories are expected to participate in the Vietnam International Trade Fair (Vietnam Expo 2019), scheduled to take place in Hà Nội from April 10 to 13. The event will feature 600 pavilions, including from Algeria, Cuba, Indonesia, the Republic of Korea and China, according to the Việt Nam National Trade Fair & Advertising Company (Vinexad). There will be a special display area for creative…

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Vietnam 

Hà Nội proposes tightened management of social network businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under stricter management. — Photo vietbao.vn Viet Nam News HÀ NỘI — The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under the same management as e-commerce websites. E-commerce websites that violate regulations may be shut down under the law and have their domain names revoked. In addition, there should be close co-ordination between…

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Global 

China’s rushed foreign investment law gains lukewarm response from local and international businesses

China’s draft foreign investment law is expected to be one of the flagship announcements at the ongoing National People’s Congress in Beijing, but it has received a lukewarm response from businesses and academics in China.Among the foreign business community in China, there is a shared view that the draft foreign investment law (FIL) lacks substance and that it is being rushed through in a bid to meet some of the terms of a trade war truce laid out by US President Donald Trump.“We are… Source link

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China 

China businesses offer mixed reaction to VAT cut as exporters still call for more help amid slowdown

China’s cut in the value-added tax rate provided an immediate boost to corporate confidence amid the slowing economy, but exporters said that they still need more help from the government to offset their lack of access to credit and the effects of the continuing US-China trade war.The government is redoubling its efforts to this year to stabilise the economy, but is relying on fiscal policy, rather than monetary stimulus, to boost growth.Tax cuts are one of the most powerful weapons Beijing can… Source link

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Ecommerce 

Office Depot and Alibaba team up to tap small and medium businesses

Office Depot on Monday teamed up with Alibaba Group Holding to launch a co-branded e-commerce website, seeking to tap into the opportunities of selling to small and medium businesses in the United States.While the Chinese e-commerce giant has signed deals with US companies including Kroger Co to sell products in China through its online marketplace Tmall.com, the deal with Office Depot marks Alibaba.com’s first business-to-business collaboration with a major US company.The partnership would… Source link

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Ecommerce 

JD.com sets strategy to expand into China’s smaller cities, offline businesses

Workers talk as displays show sales data at the command centre at the headquarters of e-commerce retailer JD.com in Beijing, Sunday, November 11, 2018. Online shoppers spent more than $14 billion within the first two hours of China’s annual buying frenzy on Sunday, once again breaking records as the consumer tradition enters its 10th year. (AP Photo/Mark Schiefelbein) Source link

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China 

US-China trade war has hit ‘about half’ the businesses in southern China , says AmCham survey

Trade war tariffs imposed by China and the United States have had a negative impact on “about half” of the businesses in southern China, according to a new report.Chinese, American and other foreign firms have all been affected, according the special report on the state of business released on Monday by the American Chamber of Commerce in South China which surveyed 240 firms.American companies operating continue to report being hurt the most as a result of the US and Chinese tariffs, with 54… Source link

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Vietnam 

Small businesses reap rewards from Trump-Kim summit – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Many businesses in Hà Nội have created unique products related to the upcoming summit between US President Donald Trump and leader of the Democratic Peoples’ Republic of Korea Kim Jong Un as a way to attract customers. From February 22, Hanoi Red Tours Company has launched a promotional programme for tours to the US and Democratic Peoples’ Republic of Korea (DPRK). Accordingly, customers will receive discounts of VNĐ2-6 million (US$86 to $258) when purchasing tours to these two countries. In addition, customers will…

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China’s debt-fuelled ‘aircraft of private businesses’ took off – and then the tank ran dry

Daniel Wu, a Hong Kong based banker, remembers an investment proposal two years ago: A team from a subsidiary of the China Minsheng Investment Group (CMIG), a private conglomerate founded under the direction of Premier Li Keqiang in 2014, tried to persuade him to finance a property project being planned in Vietnam’s Ho Chi Minh City, along the Saigon River.“They depicted a marvellous plan to turn the area into another Lujiazui,” Wu said, referring to the financial hub of Shanghai. Wu’s company,… Source link

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