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Taiwan is finally luring companies back from China after more than 15 years of trying

Taiwan is slowly gaining after 15 years of effort to attract local companies to invest at home rather than in mainland China, which has so long been the favoured investment location.In 2008, then president Chen Shui-bian offered amnesty to firms that had broken laws against investing in the mainland, before successor Ma Ying-jeou leased land and established tech incubators to incentivise the return of capital. Now, a list of government incentives under President Tsai Ing-wen that took effect… Source link

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Ecommerce 

Race is on for tech companies like Grab, Ant Financial to gain an edge in SE Asia's financial services market

In Southeast Asia, over 95 per cent of companies are small and medium-sized businesses, many of which find it difficult to gain access to funding. Now technology companies like Grab, Ant Financial and Tencent’s WeChat are hoping to fill the market gap by offering financial services like loans and payments.Grab, the Singapore-based ride-sharing company that has now expanded into everything from food-delivery to mobile payments, said on Tuesday that it is making a “full-scale push into lending… Source link

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BDO ESG Awards reward companies for their dedication to sustainability

[Sponsored article]Following its successful inauguration in 2018, global accountancy network BDO announced its second ESG Awards on February 20 at a ceremony at the Grand Hyatt Hong Kong.Created to recognise excellence in long-term environmental, social and corporate governance (ESG) strategies and reporting, the ESG Award is presented to Hong Kong-listed companies with large, middle and small market capitalisation as well as GEM organisations.Since ethics and social responsibility became a… Source link

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China 

Big companies on alert in countdown to China’s consumer rights TV show

China is gearing up to skewer companies it accuses of treating consumers badly in a yearly event that has previously named and shamed firms from Apple to Nike.State-run China Central Television (CCTV) will on Friday evening broadcast its annual consumer rights show, similar to CBS network’s 60 Minutes in the United States, that tends to be a mix of undercover reports and song-and-dance routine.Known as “315”, in reference to global consumer rights day on March 15, the show is usually greeted… Source link

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China 

China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang

China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.“Through years of efforts, we have cut the time… Source link

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Global 

China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites

Few companies are more symbolic of the horrible year experienced by China’s private sector in 2018 than Chuying Agro-Pastoral Group.The pig breeder from Henan, a province in Central China’s Yellow River Valley, defaulted on a bond worth a total of 1.5 billion yuan (US$223 billion) last year. It then made headlines in China in November when it offered to repay holders of debt it had defaulted on with ham or pork products.To compound matters, large numbers of its livestock starved to death, with… Source link

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Beijing orders banks to relax bad debt ratio for loans made to small companies

China’s top banking regulator has ordered commercial banks to relax their tolerance over non-performing loans (NPLs) owed by small companies, reflecting the latest move by Beijing to support private companies amid the deepening economic slow down.Commercial banks can loosen the NPL ratio tolerance for “inclusive small companies” by 3 percentage points, according to a guideline published by the China Banking and Insurance Regulatory Commission (CBIRC) on its official website on Wednesday.The… Source link

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Vietnam 

State to explore fee cuts for shipping companies – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Việt Nam Maritime Administration has requested that associations, seaport companies and shipping companies be exempted or allowed to pay reduced service fees for containers stored at seaports for a long time.— Photo tapchitaichinh.vn HÀ NỘI — The Việt Nam Maritime Administration has requested that associations, seaport companies and shipping companies be exempted or allowed to pay reduced service fees for containers stored at seaports for a long time. The proposal was laid out in…

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China 

‘We will keep your secrets’, China promises foreign companies with new law

Chinese officials will be obliged to protect commercially confidential information they obtain from overseas businesses, according to the latest draft of China’s new foreign investment law. Delegates to the National People’s Congress in Beijing were presented with the new version on Tuesday, after last week’s version received a lukewarm response from foreign businesses and academics in China. Provisions have been added to the legislation which make clear that Chinese government employees must… Source link

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Terry Gou accuses Microsoft of ‘scapegoating’ iPhone assembler Hon Hai, bullying Taiwanese companies and taking advantage of US-China trade war

Billionaire Terry Gou accused Microsoft of being a coward and a bully after the US software giant took legal action against consumer electronics manufacturer Hon Hai for allegedly failing to comply with a patent-licensing agreement. Microsoft on Friday sued the Taiwanese company, which assembles iPhones for Apple, in California for failing to make royalty payments on time. Gou, who is chairman of Hon Hai, held a press briefing in Taipei on Tuesday, railed at the US tech giant, now… Source link

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