China 

Three ways China can use policy freedoms to shore up its economy and lead the world out of the mess

The odds of a global recession happening over the next year have probably widened over 50 per cent in recent weeks. Not since the 2008 crash has the outlook seemed so bleak. Economic headwinds are building, world trade flows are slowing down fast and global confidence is struggling, leaving China highly exposed as an export-dependent economy.With increased protectionism by the United States, recession looming in Europe and local Asian trade partners feeling the pinch, China must move swiftly to… Source link

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Singapore 

Top Singapore photographer Chuando Tan, 53, has sex scene in first lead role in movie, Entertainment, Singapore News

Fans of Chuando Tan, 53, have seen his impressive abs. Now they may be able to see the Singaporean – whose photos of his physique and youthful looks went viral in 2017 – bare his buttocks. He appears in a movie – a murder drama – which requires him to strip for a shower scene. But in an interview with 8days.sg, he said he is not sure how much skin viewers will get to see though it is quite certain that there will be no frontal nudity. Tan, who continues…

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Vietnam 

IT firms expected to lead country’s digital transformation – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Digital transformation has caused the emergence of new business models such as Grab, Sendo and Shopee. — Photo ndh.vn HÀ NỘI — Information and technology (IT) firms will lead the country’s digital transformation in all sectors, said Phan Tâm, Deputy Minister of Information and Communications (MIC). Speaking at the Việt Nam CEO Summit 2019 held in Hà Nội on Thursday, Tâm said the Fourth Industrial Revolution would create breakthroughs for countries which take advantage of its opportunities. “The Vietnamese Government advocates fully tapping opportunities from Industry 4.0 in service of…

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Home 

Hong Kong promotes Eddie Yue to lead monetary authority, taking no chances on its choice amid turbulent economic times

Eddie Yue Wai-man, who joined the Hong Kong Monetary Authority (HKMA) from its establishment in 1993, has been promoted to head the de facto central bank, as the government looks to the veteran insider to help the city chart a steady course through unprecedented turbulence.Yue, 54, will take over on October 1 from Norman Chan Tak-lam as the HKMA’s third chief executive in 26 years, overseeing one of the world’s largest currency reserves. Chan, who turns 65 in October, is due to retire after a… Source link

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China 

China’s social credit system will not lead to citizens losing access to public services, Beijing says

China’s controversial social credit system will not result in individuals or companies losing access to public services, a senior government official said.Lian Weiliang, vice-chairman of the National Development and Reform Commission (NDRC), China’s state planner, said that “in the past, there were some inappropriate punishment measures for dishonesty in some regions, which have already been regulated and corrected”.The social credit system assigns both positive and negative scores for… Source link

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China 

US-China trade talks continue by phone, could lead to in-person meeting, says US Treasury Secretary Steven Mnuchin

US and Chinese officials will speak on Thursday, potentially paving the way for in-person trade talks to resume, US Treasury Secretary Steven Mnuchin said, as the world’s two largest economies seek to end a year-long trade war.Mnuchin and US Trade Representative Robert Lighthizer will speak on the phone with their Chinese counterparts, the Treasury Secretary said in an interview along the sidelines of the G7 meeting in Chantilly, France.The United States and China have been embroiled in a tit… Source link

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Hellobike plans to lead China’s two-wheeler transport market as bike-sharing rivals struggle

China’s bike-sharing craze may have cooled considerably, but Hellobike has no plans of letting up as its competitors struggle.The Shanghai-based start-up, whose fleet of bicycles sport a blue-and-white livery, became the country’s third biggest bike-sharing services provider by focusing on smaller cities. In contrast, market leaders Mobike and Ofo battled in larger cities like Beijing and pursued international expansion.While its two rivals have since beat a hasty retreat from overseas markets… Source link

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Getting it right on Chinese bond bailout winners can lead to a windfall 30 per cent return

Venturing beyond bonds from state-owned issuers in China often involves more than just assessing credit risk. Investors need to make a call on whether authorities will bail out the borrower.Make a good call on that, and the rewards can be great. Any trader that took the plunge a month ago on buying the debt of distressed Chinese local oil refiner Shandong Qicheng Petroleum Chemical Industry Co got paid handsomely for the effort. They would have earned almost 30 per cent in three weeks.It would… Source link

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Opinion | How China’s Belt and Road Initiative could lead Vietnam away from renewable energy and towards coal

A a child on a Saigon waterbus brandishes a pinwheel as he passes Landmark 81, Vietnam’s tallest building, in Ho Chi Minh City on June 6. While Vietnam has enormous potential for wind and solar power generation, funding for coal-power electricity plants under China’s Belt and Road Initiative could derail its renewable energy push. Photo: Reuters Source link

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Alibaba said to pick CICC, Credit Suisse to lead Hong Kong share sale

Chinese internet giant Alibaba Group has picked China International Capital Corp and Credit Suisse Group to lead a planned Hong Kong share sale, people familiar with the matter said.The online retailer is in discussions with other investment banks seeking a role on the offering, according to the people, who asked not to be identified because the information is private. Alibaba plans to file a formal listing application with the Hong Kong stock exchange as soon as the next few weeks, the people… Source link

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