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China’s gaming regulator said to call halt on new approval submissions to clear backlog in potential blow to Tencent, NetEase

China’s State Administration of Press and Publications has called a halt on new gaming approval submissions to clear a backlog created by an earlier nine-month hiatus, according to a gaming company executive with knowledge of the matter.There is no confirmed date as to when the top gaming regulator will restart accepting submissions from its local bureaus, according to the person, who was informed by the local regulator this week and asked not to be named as the information is not public… Source link

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China’s Greater Bay Area still has hurdles to clear if it wants to be a tech challenger to Silicon Valley

The “Greater Bay Area”, touted as China’s answer to Silicon Valley, may serve as a symbol of China’s determination to match US technological might, but a shortage of top-notch talent and schools, along with the simmering trade war between the US and China, have clouded its prospects in the short term, according to analysts.Beijing wants this proposed integrated area, which links nine cities in Guangdong province – including Shenzhen and Guangzhou – with the Hong Kong and Macau special… Source link

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Vietnam 

Agribank must go IPO by 2020, clear all bad debts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Deputy Minister Huệ addresses a working visit to state-run Agribank on Monday. He demanded Agribank launch an Initial Public Offerings (IPO) by 2020. — Photo anninhthudo.vn Viet Nam News HÀ NỘI — The Vietnam Bank for Agriculture and Rural Development (Agribank) must resolve all non-performing loans kept at the Việt Nam Asset Management Company (VAMC) soon, said deputy PM Vương Đình Huệ. Huệ made the statement during his working visit to the state-run bank on Monday. He also demanded Agribank to launch an Initial Public Offering (IPO)…

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Supply and Demand – When Should Retailers Clear Their Stock?

[Sponsored Article] Managing Perishable Inventories in Retailing: Replenishment, Clearance Sales, and SegregationLI, Qing | YU, Peiwen | WU, XiaoliOperations Research, Vol. 64, No. 6, November–December 2016, pp. 1270–1284   Retail products such as food items and pharmaceuticals are perishable. For them, matching supply with uncertain demand is a challenge. Retailers sometimes run out of stock, which leads to revenue loss, and they sometimes have to throw away items that have passed their expiration dates. It was found that four main supermarkets in Hong Kong discard approximately 87 tons of food…

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Property 

Discounts are the order of the day for Hong Kong’s property developers to clear their stock, as prices trend downward

Sun Hung Kai Properties, Hong Kong’s biggest home developer, sold all of its flats on offer at Ma Tau Kok over the weekend, after discounting prices by 50 per cent on average, compared with a similar project in the same neighbourhood. The developer sold every one of the 155 flats in the first batch at the Downtown 38 apartment complex on Pai Tak Street in Ma Tau Kok, where prices for the units ranged from between HK$5.4 million and HK$7.9 million, or HK$17,621 to HK$19,193 per square foot. That is…

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China 

Xi Jinping steers clear of US trade war and slowing economy in glowing review of China’s ‘extraordinary’ 2018

Chinese President Xi Jinping tried to talk up the country’s achievements over the past 12 months in a year-end speech that ignored or downplayed some of the major challenges, including the trade war with the US, that has put the Communist Party’s leadership to the test. In Saturday’s address to members of Chinese People’s Political Consultative Conference, the party’s advisory body, Xi said 2018 had been “extraordinary” for the party and government and flagged up a number of achievements, Xinhua the state news agency reported. While the Belt and Road…

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China 

China must be clear about government role in economy, says European lobby group in Beijing

China has been urged to define the role of the government in its economy, with experts warning that its continued interference is spooking global markets. “When we look at the next round of reforms, the key issue is the correct definition and the role of the government in the economy,” said Mats Harborn, president of the European Union Chamber of Commerce in China, who spoke on the sidelines of his group’s annual conference in Beijing. “It’s the core of all the conflicts. Should the government be directly supporting the industries…

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Beijing sends clear message to Hong Kong: join forces with Shanghai and boost China’s financial power

Hong Kong and Shanghai have different starting points in internationalisation and different missions, but they have the same goal, which is to serve China’s needs of reform and opening-up and boost the country’s financial competitiveness in the world, according to a former top Chinese official, reiterating the political message from Beijing. At a meeting with a delegation of top officials and business leaders from Hong Kong and Macau earlier this month, Chinese President Xi Jinping praised the city’s role in China’s successful reform and opening up over the past 40…

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China’s online shopping frenzy is no panacea for the clear air and water we really need for survival

The inaugural China International Import Expo wrapped up on the 10th of November with US$57.83 billion worth of deals agreed for the year ahead. This was followed by a record-breaking result of China’s Singles’ Day, or “Double 11” shopping event. For the 24 hours on 11th November, the gross merchandise value (GMV) reported by Alibaba had reached US$30.8 billion, a 27 per cent growth from last year, more than 4,100 times the volume of 2009 when the event was first created. It is now the largest shopping event in the…

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Sundar Pichai defends Google’s controversial search effort in China although final direction not clear

Google chief executive Sundar Pichai said in an interview that the company operates in lots of countries around the world where there is censorship and that when the search giant follows “right to be forgotten” laws, it is censoring search results in order to comply with local laws. Pichai’s comments come after the company’s controversial attempt to launch a censored search product in China – known as Project Dragonfly – triggered an outcry among employees and US politicians amid an escalating trade war and concerns over freedom of speech. “I’m…

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