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China’s outlet mall boom is proving immune to the online shopping threat, and more investment funds are taking a look

Designer outlet malls, which enable brands to sell stock directly to the public through factory outlets, have continued to see strong growth in sales throughout Asia-Pacific, bucking the downturn that has affected other brick and mortar retailers during the e-commerce boom. The gains have been particularly noticeable in China, where a building boom has led to a doubling of outlet malls in the last two years. China has 110 outlet malls nationwide, or about 45 per cent of the 244 such malls… Source link

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Singapore 

CPF responds to father’s request to use funds to pay for his daughter’s school fees, Singapore News

SINGAPORE – The Central Provident Fund (CPF) Board responded on Friday (June 28) to a Facebook post put up by a father, who said he was disallowed from using his CPF funds for his daughter’s education. In his post on Wednesday, Lim Koh Leong recounted his experience when he talked to staff members at the CPF Board that day. Mr Lim said that despite having more than the necessary amount in his account to cover his daughter’s fees, he was not allowed to use a portion of the funds because…

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Vietnam 

Belgium funds repairs of Câu Ngòi canal in Ninh Thuận – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A section of the newly upgraded Câu Ngòi canal. NINH THUẬN — Authorities in the south-central province of Ninh Thuận have completed a project to expand and reinforce the local Câu Ngòi canal with funding from the Belgian government. With a length of nearly 7.2km, the canal runs from Thanh Hải Commune in the city of Phan Rang – Tháp Chàm to Đầm Nai in Khánh Hải Town, Ninh Hải District, supplying water for thousands of local families and ensuring irrigation for more than 2,682ha of land. Before the recent upgrade, many…

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Property 

‘Unimpeachable’ study calls foreign ownership the primary culprit for housing unaffordability in Vancouver, a favourite destination for Chinese funds

A study has found long-sought evidence linking foreign ownership to extreme housing unaffordability in Vancouver, a Canadian city that has attracted waves of Chinese capital and millionaire migrants.The white paper by Josh Gordon, an assistant professor at Simon Fraser University’s school of public policy, found a near-perfect 96 per cent (or 0.96) correlation between various metro Vancouver municipalities’ price-to-income ratios (a common measure of unaffordability), and the proportion of… Source link

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Investors pull cash from US-based China region equity funds for 8th straight week

Investors extended their purge of US-based China region equity funds, pulling cash from the sector for the eighth consecutive week, marking the longest negative streak since mid-2016 and overlapping with the deterioration of trade talks between Washington and Beijing, according to new data.For the week ending June 19, a net US$218.6 million was withdrawn from China region funds sold to US investors, data provider Lipper, a Refinitiv company, reported late on Thursday.Since April 1, investors… Source link

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Vietnam 

Funds lose against VN-Index as trade war escalates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Hòa Phát factory in Hải Dương Province’s Kinh Môn District. – VNA/VNS Photo Danh Lam HÀ NỘI – In the first five months of this year, investment funds lost in the race against the benchmark VN-Index, online newspaper ndh.vn has reported. Net asset values (NAVs) of the Việt Nam-focused investment funds run by Dragon Capital, VinaCapital and Pyn Elite either did not grow or made modest gains. In the first five months, the benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 9.3 per cent. The…

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China still ‘exploring’ international board for foreign companies to raise funds on Shanghai Stock Exchange

Shanghai ambitions to transform itself into a global finance hub on par with New York and London includes a long-discussed international board to attract foreign corporate giants to raise funds on the mainland stock market.The plan is still alive, a key official says, but needs approval from the State Council, China’s cabinet.“We are exploring it, and I believe there will be some news about the board in foreseeable future,” Fang Xinghai, vice-chairman of the China Securities Regulatory… Source link

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Vietnam 

Venture capital funds commit almost half a billion dollars to VN startups – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Agreements signed between the Ministry of Planning and Investment and investment funds at the summit. — Photo kinhtedothi.vn HÀ NỘI – Eighteen local and domestic venture capital funds have committed investment of about VNĐ10 trillion (US$429.2 million) to Vietnamese start-ups over the next three years. A number of cooperation agreements were inked at the Vietnam Venture Summit 2019 which opened on Monday in Hà Nội with the participation of leading global venture capital firms such as Temasek, Golden Gate Ventures, Softbank Vision Fund, CyberAgent Ventures, Insignia Ventures Partners and…

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China healthcare platform Waterdrop raises 1 billion yuan in funds from investors including Boyu Capital

Waterdrop, a Chinese online insurance platform backed by Tencent, has raised more than a billion yuan (US$145 million) in a funding round led by private equity firm Boyu Capital.Other backers of the series C round include CICC Capital, while earlier investors including Tencent and Gaorong Capital also took part, the Beijing-based start-up said in a release on Wednesday.Founded by former Meituan Dianping executive Shen Peng in 2016, Waterdrop started as a health care crowdfunding platform for… Source link

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Bond funds become MPF’s safe haven, shielding investors from losses as trade war escalates

Bond funds have become a safe haven for the Mandatory Provident Fund, the only category of investment to deliver a recent gain as the trade war between the US and China escalated, according to pension experts.The 33 bond funds in Hong Kong’s compulsory retirement savings scheme saw an average gain of between 0.17 to 1.1 per cent in May, the best performers among the 426 MPF investment funds tracked by Lipper, part of data provider Refinitiv.The bond funds beat the overall MPF investment fund,… Source link

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