Vietnam 

Government asks for tight control over corporate bond issuance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A corner of the Văn Phú Victoria real estate project, which is built by Văn Phú-Invest JSC. The company is among property developers that want to raise capital from bond issuance with annual yield rate of 12 per cent. — Photo ndh.vn HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has asked for tight control of corporate bond issuance so the finance and equity sectors operate properly and safely. A number of companies, especially property developers, have offered corporate bonds with high volumes and yield rates (12-14 per…

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Home 

Chinese home builders ‘hunger’ for offshore bond markets after land spending binge prompts government clampdown on credit

Chinese developers are flocking to the offshore bond ­market, one of the few fundraising channels available amid a ­government clampdown on credit, as prices for land at tender rise sharply.Developers have issued ­overseas bonds worth more than US$4 billion in the first 10 days of July. That compares with a total of US$3.5 billion in bonds issued in June, according to financial data provider Wind Information.Logan Property Holdings, which paid a record price for a plot in Shenzhen on June 24,… Source link

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China 

China’s government mulls special stake in wallstreetcn.com as it looks to control the flow of information on trade, economics

The Chinese government is trying to extend its oversight of sensitive subject matters to trade, economics and business – in addition to politics, religion and race – by muscling in on the ownership of private media organisations.The Cyberspace Administration of China (CAC), which regulates the country’s internet, smartphone applications and websites, is working on a plan to take a minority stake with super voting power in Shanghai Aniu Information Technology, the operator of the wallstreetcn… Source link

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Vietnam 

Việt Nam launches government bond futures contract – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Officials press buttons to launch the government bond future contracts on the Hà Nội Stock Exchange on Thursday. — VNA/VNS Photo Phạm Hậu HÀ NỘI — The Hà Nội Stock Exchange on Thursday officially launched the government bond futures contract, the second derivatives market product in Việt Nam since the index futures in August 2017. The introduction of the five-year bond futures contract is expected to satisfy the investment needs and risk prevention of investors, through better attracting foreign investment and contributing to the process of upgrading the status…

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Vietnam 

Government needs to reinforce macro-economic stability – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Processing shrimp for export at the factory of Minh Phú Hậu Giang Seafood Joint Stock Company in Hau Giang Province. VNA/VNS Photo Vũ Sinh HÀ NỘI – The Government should enhance macro-economy stability to strengthen the national economy before risks appear, said members of the National Financial and Monetary Policy Advisory Council at a meeting yesterday. The meeting, chaired by Deputy Prime Minister Vương Đình Huệ, pooled opinions ahead of the Government’s meeting with localities tomorrow. In the first half of this year, the country posted a GDP growth rate of 6.76…

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Home 

Financial Secretary Paul Chan details ‘achievements’ of Hong Kong government since taking office in 2017

Financial Secretary Paul Chan Mo-po has listed what he considers to be the government’s achievements since taking office in July 2017, pointing to improvements in Hong Kong’s financial services industry and overall economic stability. Chan’s assessment, published on his official blog on Sunday, came just days after he said the city’s reputation as a global financial centre had been damaged by the extradition bill crisis, and that the government would make every effort to restore its image. As… Source link

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Money 

China’s government sets up Dajia Insurance to take over Anbang’s assets as the disposal of former asset buyer nears

China’s government has established a new insurer to take over the operations of Anbang Group, more than 16 months after one of the country’s biggest asset buyers was put under state ward and its chairman was jailed for fraud.Dajia Insurance Group was registered on June 25 in Beijing with 20.4 billion yuan (US$3 billion) of capital put up by identical shareholders as Anbang, according to documents published by the business registrar.The move is the clearest sign that the China Banking and… Source link

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Vietnam 

Government bonds sold for VNĐ2 trillion – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  As much as VNĐ2 trillion (US$86 million) worth of Government bonds was raised at the Hanoi Stock Exchange this week. — VNA/VNS Photo HÀ NỘI — The State treasury raised VNĐ2 trillion (US$86 million) from selling government bonds at the Hà Nội Stock Exchange this week. The bonds were classified into three maturity terms: five, 10 and 15-year. Around VNĐ1 trillion was raised from selling 10-year G-bonds at a per-annum yield rate of 4.65 per cent, slightly lower than the figure on June 5. Fifteen-year g-bonds were also auctioned for VNĐ1 trillion with…

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Home 

Analyst who made correct call on China’s market this year now favours Chinese government bonds over stocks

China’s bonds will outperform stocks in the following year as growth in the world’s second-largest economy shows no signs of bottoming out, according to an analyst who correctly predicted the gyration on Chinese equities this year.China will struggle to keep economic growth at around 6 per cent as entrepreneurs’ confidence weakens, investment growth slows and exports wane amid a looming risk of a global recession, said Chen Li, chief economist at Soochow Securities, at a briefing in Shanghai on… Source link

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Property 

Land tender: Hong Kong government must introduce guarantors, higher deposits to prevent another Kai Tak fiasco

The aborted sale of a HK$11.1 billion (US$1.4 billion) prime land has exposed a serious flaw in the tender process that may cause the Hong Kong government to suffer a huge loss if it is unable to sell the site for the same price in a depressed market, according to market observers.They suggested that the government should increase the deposit amount steeply from the current HK$25 million to prevent a repeat of such an incident in the future and introduce a guarantor to complete the sale in case… Source link

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