China 

China plans to allow foreign investment in VPN services as part of Beijing trial in latest opening up move

China’s effort to further up open up and attract foreign investment continued with the city of Beijing unveiling plans to allow overseas firms to invest in virtual private network services within a trial zone by the end of the year.Foreign investors will be allowed to invest in virtual private network (VPN) services, which allow users to bypass China’s Great Firewall to access services such as Google and Facebook which are currently blocked, although foreign ownership in such providers will be… Source link

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Singapore 

Singaporeans advised to defer non-essential travel to Hong Kong: Foreign Ministry, Singapore News

SINGAPORE – The Ministry of Foreign Affairs (MFA) has issued a travel advisory asking Singaporeans to defer all non-essential travel to Hong Kong, following several pro-democracy protests in the financial hub. In an advisory dated Friday (Aug 16), MFA said the protests that have been ongoing since June have become increasingly unpredictable and could turn violent. The recent protests had also affected Hong Kong International Airport, leading to the cancellation of flights and leaving many travellers stranded at the airport. “Singaporeans are thus advised to defer non-essential travel to Hong Kong,…

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Vietnam 

More steps to be taken to downsize foreign currency loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Firms will have to buy foreign currencies instead of borrowing from banks. — Photo cafef.vn HÀ NỘI — Commercial banks will no longer allow the provision of mid- and long-term foreign currency loans for offshore payments of imported goods and services from September 30 this year. According to the State Bank of Việt Nam (SBV), the move aims to implement the SBV’s policy to shift the foreign currency-related transactions from borrowing and lending to buying and selling to minimise dollarisation in the economy. Earlier, banks also stopped providing short-term foreign…

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China 

China may use foreign exchange reserves to fight US financial war risk, analysts say

As the United States widens the conflict with China into the realm of finance, raising the possibility that Washington will use the US dollar payment system as a weapon, analysts are wondering whether China will shift how it uses its US$3.1 trillion in foreign exchange reserves in anticipation of extreme financial volatility. China, analysts said, may consider preparing itself against a possible US financial attack by shifting towards a more defensive stance, such as using its foreign exchange… Source link

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Home 

Shanghai to give foreign workers access to share options for locally-listed firms to attract more funds and talent

Shanghai plans to allow foreigners employed by regional headquarters of multinational companies to receive stock options on the A-share market, part of its bid to become a global financial powerhouse.The step comes as ongoing protests in Hong Kong pose a threat to its status as the region’s established financial centre.The stock options guideline, published Tuesday, aims at encouraging more regional headquarters to be set up in Shanghai. It represents the latest efforts by the mainland’s most… Source link

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Vietnam 

Foreign capital outflow sends VN-Index down – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Vietcombank office. The bank’s stock was among 20 large-caps that fell and dragged the benchmark VN-Index down on Tuesday. — Photo vneconomy.vn HÀ NỘI — Vietnamese shares dipped on Tuesday as foreign capital was withdrawn on worries about geopolitical instability in the region. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange fell 0.87 per cent to close at 966.83 points. The VN-Index added 0.10 per cent on Monday. The HNX-Index on the Hà Nội Stock Exchange dropped 0.51 per cent to end at…

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China 

China’s online army shows foreign brands who’s in charge

As geopolitical storm clouds gather, China’s most powerful weapon may not be tariffs or riot police, but ordinary consumers at their keyboards.Beijing is increasingly finding itself under siege as US President Donald Trump’s trade war squeezes the world’s second-largest economy and protests in Hong Kong call into question China’s hold over the territory.But as it has in the past, China is finding support from an increasingly nationalistic online community, who use the pitfalls of multinational… Source link

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China 

China paints rosy picture of foreign investment despite Donald Trump’s claim ‘thousands’ of firms are leaving

Foreign investment in China accelerated in July despite trade tensions with the United States, contradicting claims from US President Donald Trump of an exodus of investors.In July, foreign direct investment (FDI) into China rose 4.1 per cent from a year ago to US$8.07 billion, a higher rate from the 3 per cent rise seen in June, according to data released by China’s Ministry of Commerce on Tuesday.In yuan terms, FDI increased to 54.82 billion yuan (US$7.8 billion) in July, 8.7 per cent higher… Source link

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Home 

Birmingham’s rising potential finds favour among foreign property investors who find London overpriced

Birmingham, the second-largest city in England, is increasingly attracting overseas property investors, as they find London overpriced. Among them is Hongkonger Jabbie Yip, who bought three homes in Birmingham, about 162km northwest of the British capital. “These are long-term investments,” said Yip, 45, who also owns two flats in Hong Kong. “London, even if prices have declined by 10 per cent since Brexit, is still two and a half times more expensive than Birmingham.” The businessman bought… Source link

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Vietnam 

Foreign debts under Government’s control: Deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Deputy Prime Minister Vương Đình Huệ speaks at the meeting. The country’s foreign debts reduced to 46 per cent of its gross domestic product (GDP) by the end of 2018 from 48.9 per cent a year earlier. VNA/VNS Photo HÀ NỘI – The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vương Đình Huệ said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission in Hà Nội last Friday. In 2018, the Government set a loan…

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