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Hong Kong to become a hub for catastrophe bonds as Greater Bay Area takes shape

Hong Kong could emerge as a trading hub in products that help insurance companies in the “Greater Bay Area” offset risk related to property damage arising from flooding and other natural disasters, according to experts.Catastrophe bonds are structured credit instruments often used by US and Japanese insurers, as well as reinsurers, to raise capital by offloading the insured risks from natural disasters, be it wildfires in California or earthquakes in Nagano.Tow Lu Lim, a partner at law firm… Source link

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China 

Chinese tech hub Shenzhen becomes key trade war battleground as US strikes at Huawei, its ‘dragon’s head’

In the restaurants and coffee shops at the heart of southern China’s hi-tech powerhouse the main topics of conversation have shifted from industry gossip such as IPOs, mergers and innovations to the trade war with the US and Washington’s campaign against Huawei.So all-consuming has the topic become in Yuehai – the western district of Shenzhen that houses the social media giant Tencent, telecoms maker ZTE and drone maker DJI – that locals joke that it seems more like a trade war between the US… Source link

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Macau is considering a yuan-denominated stock exchange as the world’s gambling hub looks to diversify away from casinos

Macau is considering launching a yuan-based stock market to help it diversify away from gaming, its main source of revenue, and align the territory more with China’s growth plans for the Greater Bay Area in the country’s southern region.Macau’s Monetary Authority told Reuters in an email that it was starting feasibility studies for a securities market, including a stock market which would “leverage Macau’s advantage to serve the country’s need,” compared with established centres Hong Kong and… Source link

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Shanghai tech board unlikely to challenge Hong Kong’s status as preferred IPO hub for Chinese biotech firms

Volatile stock markets as a result of the unresolved US-China trade war will affect the valuations of Chinese biotech IPOs, but Hong Kong’s status as an IPO hub will remain undiminished and compete strongly with the upcoming tech board in Shanghai, say investment bankers.“The funds available here and in China are incredibly deep, I anticipate that this market should hold as it goes through the ups and downs,” said Philip Ross, JPMorgan’s vice-chairman of investment banking with a focus on… Source link

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Hong Kong reclaims crown as global hub for high-end Bordeaux wine

Hong Kong has become the top export destination for high-end Bordeaux wine for the first time since 2011, knocking China from the No 1 spot.In 2018 Hong Kong accounted for 16 per cent of wine sales by value from Bordeaux, the famed wine growing region in southwestern France, according to the Bordeaux Wine Council (CIVB).Hong Kong ranked top of the league tables for high-end Bordeaux in 2011, before being overtaken by the UK for one year, and then the mainland from 2013 through 2017.The… Source link

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Shanghai can be made a global financial hub – if China fixes some fixable problems

American companies had high expectations when China announced in 2009 its plan to transform Shanghai into an international financial centre by 2020. It wouldn’t be easy. While centres like London, New York and Tokyo have the infrastructure and legal environment needed for traders, asset managers and global banks to execute transactions, China had a non-convertible currency, a closed internet and other characteristics inconsistent with a global trading centre.Still, there was cause for optimism… Source link

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A year after Hong Kong’s stock listing overhaul, city’s aim to be Asia’s biotech hub is still a work in progress

The radical overhaul of the rules for listing on Hong Kong’s stock exchange last April had the goal of making the city a hub for technology and biotech firms looking to raise capital.A year on, it is debatable whether the reforms – the biggest in a quarter of a century – have met expectations.Just nine companies have taken advantage of the new regime, which for the first time has allowed technology firms with weighted voting rights – commonly known as dual-class shares – and pre-revenue biotech… Source link

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Chinese capital controls mean Shanghai is not a global financial hub, US bankers say

Shanghai has fallen short of its ambitious goal of becoming a fully-fledged international financial centre by 2020, according to a survey by the American Chamber of Commerce in Shanghai.The plan was announced in 2009, when Shanghai officials pledged it would be on an equal footing to New York, London and Hong Kong by next year’s deadline.As the deadline grows nearer, however, the city remains largely a commercial and shipping capital. Restrictions on the movement of capital in and out of China… Source link

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Singapore 

Uber launches Asia-Pacific hub in Singapore, no plans to restart in South-east Asia, Singapore News

SINGAPORE – Just a little over a year after it announced its exit from Singapore and the South-east Asian market, Uber now says it is in the Republic to stay. The American ride-hailing giant officially launched its Asia-Pacific hub here on Tuesday (April 2), occupying about 2,000 sq m at Fraser’s Tower on Cecil Street, overlooking the Central Business District. The new office, which is headed by Uber’s international chief business officer Brooks Entwistle, oversees the firm’s operations in nine countries across the region, including Australia, Bangladesh and Japan. While…

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Vietnam 

HCM City begins work to become southern logistics hub – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The HCM City Department of Industry and Trade has reported to the city government that it is appraising tenders from contractors to develop logistics facilities and turn the city into a logistics hub for Southern Việt Nam. Nguyễn Ngọc Hoà, deputy director of the department, said the project aims to develop the city into a national transshipment port with ports linked with Cái Mép-Thị Vải international port and build a network of inland container depots, reducing the high logistics costs. The…

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