China 

China, US urged to ease trade war tensions that are ‘weighing on’ global commerce, says IMF chief economist

The International Monetary Fund on Friday renewed its call for China and the United States to ease trade tension to reduce the already substantial downside risks their dispute poses for the global economy, one day after the two countries agreed to resume face-to-face negotiations next month.“Trade tension and trade disagreement are certainly weighing on trade,” Gita Gopinath, the International Monetary Fund’s (IMF) chief economist said in Beijing on Friday.“If you look at the US, China and… Source link

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HSBC says blockchain could ease small firms’ financing woes, with Greater Bay Area key to success

A broader adoption of blockchain technology could open up more financing for small and medium-sized businesses seeking to export goods, particularly in the Greater Bay Area, according to HSBC’s head of global trade for Asia.Ajay Sharma, regional head of global trade and receivables finance, HSBC Asia-Pacific, said obtaining letters of credit, in which banks guarantee payments in a transaction, has been difficult for small businesses in the past. A lot of paper had to be exchanged between… Source link

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Alibaba shareholders approve one-to-eight stock split, which could ease potential Hong Kong secondary listing

Alibaba Group Holding’s shareholders overwhelmingly approved a 1-to-8 split of the company’s US-listed stock, a move the company has said would give it greater flexibility for raising capital, including issuing new shares, according to a US securities filing late on Monday.The approval comes as the company is reportedly considering a secondary listing of its shares in Hong Kong.Alibaba ramps up global e-commerce expansion with English Tmall portalBloomberg previously reported that Alibaba, the… Source link

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Global 

China should ease currency controls to let citizens invest abroad and cut losses, expert says

China should gradually remove its currency controls to let citizens diversify their investments internationally to hedge against a slowing domestic economy that threatens to erode investments and the country’s massive savings, Naoyuki Yoshino, dean and CEO of the Asian Development Bank Institute has urged.The nation’s foreign exchange regulator, the State Administration of Foreign Exchanges (SAFE), has imposed draconian capital controls in recent years to keep money onshore to prevent a sharp… Source link

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Here’s how American chip makers pressed Trump’s administration to ease US export controls for Huawei Technologies

President Donald Trump’s decision to allow US companies to continue selling to Huawei followed an extensive lobbying campaign by the US semiconductor industry that argued the ban could hurt America’s economic and national security.In multiple high-level meetings and a letter to the Commerce Department, the companies argued for targeted action against Huawei Technologies instead of the blanket ban the Trump administration imposed in May. That includes identifying specific technologies that the… Source link

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China’s biggest maker of LED chips removed from US ‘Unverified List’ as trade tensions ease

China’s biggest maker of light-emitting diode (LED) chips surged after the United States removed it from a list of foreign entities requiring special checks.Shares of Sanan Optoelectronics Co jumped by the 10 per cent daily limit on Monday in Shanghai.The US Department of Commerce removed Sanan and seven other Chinese companies from its “unverified list”, according to a June 27 release.While firms on that list are not barred from doing business in the US, they may need additional licences to… Source link

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Vietnam 

Hotel Ease · Tsuen Wan becomes the first B Corp™ hotel in Asia – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Redefining Success in Business, Creating Value for Employees, Communities and the Environment   HONG KONG, CHINA – Media OutReach – 24 June 2019 – Stan Group (Holdings) Limited (“Stan Group”) announced that Hotel Ease · Tsuen Wan, a member of Tang’s Living Group, has become a Certified B Corporation® (B Corp™), also the first Hotel in Asia to receive the certification.   Hotel Ease · Tsuen Wan becomes the first B Corp™ hotel in Asia. B Corporation Certification is a recognition of the extraordinary performance of Hotel Ease · Tsuen Wan in creating shared value for the environment and…

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China considers unwinding rules it put in place after the last equity market crash; proposed change to ease company fundraising

China’s securities regulator is considering scrapping profitability requirements in mergers and acquisitions (M&A) for listed companies, as a way to facilitate secondary fundraising as the trade war weighs on Chinese growth and threatens to push the global economy into recession next year.Under consideration is an amendment to remove profitability requirements in M&A deals involving listed companies, the China Securities Regulatory Commission (CSRC) said in a statement issued on its official… Source link

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Vietnam 

Shares ease on low demand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers buy petrol at a Petrolimex’s gas station in Hà Nội. Shares of Petrolimex decreased 1 per cent yesterday to VNĐ61,800 each. — VNS Photo Mai Hương HÀ NỘI — Shares tumbled on Wednesday on low liquidity due to weak market sentiment as investors adopted a wait-and-watch approach with little capital injection. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange lost 0.82 per cent to close at 954.17 points. On the southern exchange, 107 stocks advanced while 183 declined. More than 138 million shares were traded on the bourse,…

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China 

Guangdong’s move to ease limits, boost China’s car sales met with scepticism by analysts and residents

Plans by China’s most prosperous province of Guangdong to ease restrictions on car sales in a bid to boost domestic consumption have been met with scepticism by analysts and residents due to a perceived reluctance by consumers to spend due to uncertainties over the economic outlook.The southern province that is home to much of China’s export and hi-tech manufacturing will increase the annual car sales quota by 100,000 in the provincial capital of Guangzhou and by 80,000 in the southern… Source link

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