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Higher deposit for land sales will add pressure on small firms, tightening the big developers’ grip on Hong Kong’s land supply

The recent move by Hong Kong’s government to double the deposit for land tender sales, raised to deter defaults, will add to the financing pressure on small developers and put them at a disadvantage when they buy land in the world’s most expensive property market, analysts said.A HK$50 million (US$6.4 million) deposit now applies on all land parcels that are valued at over HK$400 million, while plots assessed at between HK$200 million and less than HK$300 million requires a non-refundable… Source link

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China 

China close to launching its own cryptocurrency, says central bank, amid pressure from Facebook’s Libra

The People’s Bank of China is “close” to issuing its own cryptocurrency, according to a senior official.The central bank’s researchers have been working intensively since last year to develop systems, and the cryptocurrency is “close to being out”, Mu Changchun, deputy director of the People’s Bank of China (PBOC)’s payments department, said at an event held by China Finance 40 Forum over the weekend in Yichun, Heilongjiang. He did not give specifics on the timing.Mu repeated the PBOC’s… Source link

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China 

China’s courts ‘biased’ towards state giants due to political pressure, study shows

Chinese courts are under political pressure to protect state-owned enterprises as a new study found 63 per cent of legal cases involving such companies were suppressed by the government.The Chinese judiciary disclosed details of only 37 per cent of cases involving state-owned enterprises (SOEs) in a sample of mandated disclosures involving 5,370 cases between 2008 and 2016, according to the Chinese University of Hong Kong.Disclosures in the remaining cases were suppressed by the government,… Source link

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Vietnam 

Selling pressure sends stocks down – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

                 Cows at a Vinamilk Tây Ninh dairy farm. VNA/VNS Photo Lê Đức Hoảnh HÀ NỘI — Selling pressure increased at the end of Monday’s session, affecting market sentiment and creating a big variation in large-cap prices. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange slipped 0.03 per cent to close at 982.04 points. More than 164.4 million shares were traded on the southern bourse, worth VNĐ4 trillion (US$174 million). The large-cap VN30-Index was down 0.13 per cent to end at 879.62 points.…

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Vietnam 

VN stocks fall, mounting sell pressure hits large-caps – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An HDBank office. The bank’s shares inched down 0.2 per cent on Thursday. It is among bank stocks that were hit by mounting selling pressure. — Photo thuonggiaoonline.vn HÀ NỘI — Vietnamese shares finished Thursday on a negative note as large-cap firms were unable to hold up against mounting selling pressure. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.66 per cent to close at 976.05 points. The VN-Index gained total 1.04 per cent in the previous two days. Selling pressure increased among large-cap stocks and pulled the…

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Vietnam 

VN stocks decline as selling pressure mounts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Investors at BIDV Securities Co’s trading floor. The Vietnamese stock market declined on Thursday morning as investors looked to cash in on the market’s recent rally. – Photo tinnhanhchungkhoan.vn HÀ NỘI — Vietnamese shares fell on Thursday morning as investors looked to earn profits from recent rallies. The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 0.43 per cent to close at 978.30 points. The index inched up 0.05 per cent on Wednesday. More than 72.7 million shares were traded on the southern bourse, worth VNĐ1.5 trillion (US$64.8…

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China 

US-China trade truce increases pressure at home for both Trump, Xi to cut a deal, analysts say

For decades, Jasco Products Company has outsourced production of its doorbells, lights and surge protectors to China without a second thought. But, a trade war with the United States that has been raging for the last year has put the Oklahoma-based company and thousands of other firms like it – both American and Chinese – at risk.The tit-for-tat battle between the world’s two largest economies is already weighing on business confidence, analysts have warned, and has the potential to tip the… Source link

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Europe's 5G roll-out is being delayed by trade war, Huawei pressure and security reviews, says Tele2 CEO

The roll-out of 5G services across Europe has been slowed by US sanctions against Huawei Technologies and as European governments review the impact of using Chinese network equipment, the head of Swedish telecommunications group Tele2 said.US President Donald Trump’s administration had targeted Huawei on security grounds, but a partial lifting of restrictions was a key element of a weekend agreement to reopen stalled trade negotiations with China.Tele2 chief executive Anders Nilsson said the… Source link

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China 

China’s leading scientists advised to keep a low profile in their work as US steps up pressure on tech firms

The top economic aide to China’s President Xi Jinping has told researchers at the country’s leading scientific institution to keep a “low profile”and stay down to earth.The comments by Vice-Premier Liu He were published on the website of the Chinese Academy of Sciences (CAS) on Monday but Friday’s visit was not reported in state media.His visit came amid a deepening “technology war” with Washington restricting exports of key components to China while Beijing blamed the US for trying to impede… Source link

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China 

Chinese Vice-Premier Liu He says ‘external pressure’ can actually help China’s economy

Vice-Premier Liu He believes the “external pressure” now hitting China’s economy was inevitable and could actually boost the country’s innovation and development.Liu, the top economic aide to President Xi Jinping and chief negotiator in the trade talks with the United States, backed up comments last week from People’s Bank of China governor Yi Gang that Beijing has sufficient policy tools to address the risks and challenges to ensure that China’s long-term growth prospects remain sound.He did… Source link

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