Vietnam 

Đà Nẵng tightens land management to combat price hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The city of Đà Nẵng has issued a document requesting the management and supervision of real estate brokerages and land transactions be enhanced to prevent unusual price hikes caused by the spread of false information. Individuals and organisations found to have fabricated rumours regarding development projects would be strictly punished, Đà Nẵng Standing Party Committee said. Việt Nam News Agency reported that false rumours disseminated by brokers contributed to hugely inflated land prices in the central city recently. Real estate…

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China 

Should Beijing prop up stock markets to combat its slowest economic growth since 1990?

China’s faltering stock markets, compounded by an economy that is growing at its slowest pace since 1990, have incited a heated debate among think tanks and analysts on whether Beijing should step in to help shore up investor confidence. The benchmark Shanghai Composite Index – the world’s worst performer among major markets last year – has extended its decline, sinking to its lowest level in four years at the start of 2019 amid ongoing US-China trade war tensions and dimming prospects of the domestic economy. The Shenzhen Composite Index has…

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Money 

China economic work conference: how will Beijing combat US trade war impact on 2019 domestic economy?

In December each year, security around the Jingxi Hotel in Beijing increases dramatically, indicating that China’s most important economic policy decision-making event is taking place. The army-run hotel, 3km west of the Communist Party headquarters of Zhongnanhai, is the regular location for the Central Economic Work Conference (CEWC), which will be attended by the likes of President Xi Jinping, Premier Li Keqiang and Vice-Premier Liu He, as well as financial regulatory officials, economic planners and provincial governors. Unlike past meetings, this year’s agenda for the meeting which begins on Tuesday…

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Home 

Hong Kong needs standardised privacy laws, improved data sharing protection to combat financial crime more effectively

Hong Kong, and other jurisdictions globally, need to standardise privacy laws and improve data sharing protection to combat financial crime in a more effective manner, said David Craig, chief executive of data and trading platform Refinitiv. Such crime costs the global economy US$2.4 trillion annually. But banks and financial institutions have been hesitant to share data with regulators for fear of breaching privacy laws, or handing in evidence that could be used to sue them, Craig said on the sidelines of the Refinitiv Pan Asian Regulatory Summit, held in Hong…

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Ecommerce 

Starbucks to launch virtual stores, coffee delivery service to combat sales slump in China

Starbucks has formed a partnership with Alibaba Group Holding to deliver coffee and open virtual stores, a move designed to help the US coffee chain stay ahead of competition after same-store sales unexpectedly dropped in China last quarter. Starbucks will provide coffee delivery services in Beijing and Shanghai from September, capitalising on the three million registered riders of Ele.me, Alibaba’s food delivery platform. “The pace of innovation is far more rapid in China than any other market,” Starbucks chief executive Kevin Johnson told reporters on Thursday. “This partnership will enable…

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