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Top China VC sees flood of money into 5G-related areas in next 36 months

Venture capital investments are likely to pour into 5G-related areas in China in the next two to three years, as the next-generation mobile technology enables new businesses to emerge, according to Jixun Foo, managing partner at GGV Capital.It pays to understand how technology leaps unleash innovation, said Foo, who is consistently recognised as one of the top venture capitalists in China. He has invested in various unicorns – private companies valued at more than US$1 billion – including Didi… Source link

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China 

Bull run in China’s home prices continues for 50 straight months in June, but growth slows as curbs kick in

China’s new home prices rose for 50 months in a row in June, but the pace of growth slowed as a range of cooling measures initiated by the government kicked in.The average cost of a new home increased by 0.6 per cent in June, slowing from 0.71 per cent jump in May and 0.62 per cent in April, according to calculations based on National Bureau of Statistics data released on Monday morning.“The government has launched policies targeting developers one after another, which have cooled down the… Source link

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Vietnam 

Đồng Nai meets 2019 FDI target in just six months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Staff at work at Japanese-backed Kyokuto Co. Photo baodongnai.com.vn  ĐỒNG NAI – The southern province of Đồng Nai completed its full-year target for foreign direct investment (FDI) attraction in the first half of the year, according to the provincial Statistics Office. During the reviewed period, the province lured US$1.02 billion in FDI, 8 per cent higher than in the same period last year, the office’s latest data showed. Of the sum, $514 million was poured into 48 newly licensed projects while the remaining $512.3 million was contributed to 512 operational projects to raise their…

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Singapore 

Elections Department calls second tender in two months, Singapore News

SINGAPORE – Following a tender called last month for the provision of bus transportation services to support election operations, the Elections Department (ELD) put up another on Wednesday (July 10) for the printing, packing and delivery of documents. According to the tender documents on government procurement portal GeBiz, printing items include printed cards, forms, posters and signs, as well as paraphernalia such as ballot box funnels and plastic folders, among others. Delivery services will mean manpower and vehicles to deliver documents to election premises such as nomination centres, Group Assistant…

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China 

China’s service sector growth slows to lowest level in four months as trade war hits orders, sentiment

Speaking at a media briefing on Tuesday, Wang Bin, deputy director of the Ministry of Commerce’s market operation department, said retail sales growth for the first half of 2019 could rise 8.2 per cent, a slight increase from the 8.1 per cent recorded in the first five months. Photo: Simon Song Source link

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Singapore 

Victims of ‘Chinese official’ scams lose $4.8m in four months, Singapore News

SINGAPORE – Mr Soh panicked when he got a call, purportedly from Singtel, telling him his mobile account was going to be terminated, as he had been implicated in a crime. The 33-year-old Malaysian, who was working in a wholesale company, headed to Liang Court to transfer $1,200 on the instruction of an “official” from China, and was about to do so when two police officers at the mall noticed his frantic demeanour and approached him. Luckily, their intervention prevented him from becoming another victim of “Chinese official” scams and losing…

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Vietnam 

Banks short of credit growth quota for remaining months of 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers at an OCB transaction office in Hà Nội. Photo OCB  HÀ NỘI Though there remains six months, some banks have almost used up the assigned quota for the whole year, and experts said it would be difficult for the banks to get an expansion approval from the State Bank of Việt Nam (SBV). According to the current legal regulations, the central bank assigns an annual credit growth quota for each bank depending on its health at the beginning of the year to match the 14 per cent growth target…

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Vietnam 

GDP climbs 6.76 per cent in six months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Việt Nam’s gross domestic product (GDP) grew 6.76 per cent in the first half of this year, the second highest rate since 2011.— VNA/VNS Photo HÀ NỘI — Việt Nam’s gross domestic product (GDP) grew 6.76 per cent in the first half of this year, the second highest rate since 2011. The growth was fuelled by a stable macro-economy, impressive rice exports, declining unemployment rate, and robust economic production, Director General of the…

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Vietnam 

PV Power posts positive results in five months despite difficulties in power generation – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vũng Áng thermal power plant. PV Power reported profit after tax of VNĐ1.3 trillion ($56.6 million), surpassing the target by 29 per cent. — Photo pvpower.vn   HÀ NỘI – PV Power reported positive business results in the first five months of this year despite difficulties the company faced in generating power. Ending May, PV Power generated more than 9.4 billion kWh, completing its target set for the reviewed period. As of June 16, power generation reached 10.56 billion kWh. This was an encouraging result given difficulties the company faced since…

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China’s new home prices rise 0.71 per cent in May, accelerating at the fastest pace in six months

China’s new home prices rose at an accelerated pace in May, bolstered by robust gains in lower-tier cities, while Shanghai and other top tier cities recorded modest to flat growth amid indicators that pointed to slowing investment and sales by volume on year.The average cost of a new home increased by 0.71 per cent in May from April, the fastest gain since November, and an acceleration from 0.62 per cent in April on month, according to Bloomberg calculations based on National Bureau of… Source link

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