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South Koreans plough into offshore property markets as mainland Chinese pare down investments

Mainland China’s investments in overseas properties plunged last year amid stringent capital controls and a push by the government to get companies to put their money into belt and road infrastructure projects instead.The vacuum left behind has opened up opportunities for other Asian countries to increase their global real estate portfolios, according to analysts. South Korea in particular has benefited.In 2018 and the first quarter of this year South Koreans spent US$3.47 billion on overseas… Source link

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Why investors are shrugging off CNOOC’s massive offshore gas find in northeast China

CNOOC, China’s dominant offshore oil and gas producer, has made a major natural gas discovery off the northeast Bohai Bay but investors were not moved as it will take years to be brought to market and the reserve is not big enough to move the needle on China’s rising reliance on foreign gas.A “high-quality and high-yield” hydrocarbon flow has been found at the Bozhong 19-6 exploration area by CNOOC, China Central Television reported on Monday, reflecting the first public announcement of the… Source link

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Vietnam 

Gov’t eases conditions for offshore indirect investment – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Securities companies will need to demonstrate three consecutive years of profits to be eligible for an offshore indirect investment licence. — Photo SSI Viet Nam News HÀ NỘI — The Government has issued a new decree to facilitate business conditions for offshore indirect investment, credit information activities and intermediary payment services under the management of the State Bank of Việt Nam (SBV). Under Decree No. 16/2019/NĐ-CP, which will take effect on March 20 this year, securities, fund management and insurance firms will be permitted to register for an…

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Yield-hungry investors dig into offshore Chinese debt

At BEA Union Investment in Hong Kong, Pheona Tsang is getting creative. The head of fixed income is planning to fill 10 per cent of a yuan-focused portfolio this year with US dollar bonds, sold by Chinese companies outside the mainland market. She is not alone. Many money managers are being enticed by the same bonds, whose yields have been steadily rising thanks to years of rate hikes by the Federal Reserve. These dollar bonds in December yielded an average of 6.7 per cent, 2.8 percentage points above their onshore…

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Will trimmed subsidy roll back knock the wind out of Taiwan’s offshore turbine sector?

A retrospective reduction in subsidies for offshore wind power development by Taiwan could take the wind out of international developers’ sails, and erode some of the sector’s attractiveness relative to Japan, mainland China and South Korea as an investment destination. The Taiwan government had proposed an aggressive cutback in subsidies for offshore wind power projects in November 2018, after the ruling Democratic Progressive Party suffered a major election setback at the hands of the opposition Kuomintang Party, which has criticised offshore wind subsidies previously given as too generous. It initially…

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Property 

Buoyed by easing, expected end to Fed rate hikes, China developers issue US$8.6 billion in offshore bonds

Top mainland Chinese property developers are flocking to the offshore bond market to capitalise on a recovery in investors’ appetite. About 14 companies, including big guns Country Garden and Evergrande China, have already issued bonds worth US$8.6 billion this year, more than doubling the amount for January 2018, according to Chinese financial data provider Wind Information. Country Garden, China’s top developer by sales, issued bonds worth US$1 billion in January, with maturity ranging from three to five years and yields ranging from 7.125 per cent to 8 per cent. Evergrande,…

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Property 

Chinese big spenders are curbing their offshore property shopping as tougher capital controls bite

Chinese property buyers are spending less in their offshore purchases in Sydney, London and New York, as a tightening of China’s draconian capital control regulations in the past year has reduced the amount of money they can remit overseas, sales agents said. “People who may have been looking for a 20-million pound (US$25.7 million) property are now looking to spend 12 million pounds, while people who were looking at 6 million pounds are now looking at 4 million pounds,” said Lulu Egerton, senior director at Strutt & Parker, the UK…

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