Home 

Hong Kong’s limited partnership regime may attract funds to set up domicile, boosting city’s role as Greater Bay Area private equity hub

The Hong Kong government’s legal infrastructure to promote the city’s private equity industry may just work, encouraging more funds to set up domiciles locally and augment its role as a centre for private capital in the Greater Bay Area, according to fund managers and analysts.Hong Kong was the base for 529 private equity (PE) and venture capital (VC) firms last year, with US$159 billion under management, according to AVCJ’s data. While they helped raise funds and advised on how the capital was… Source link

Read More
Vietnam 

VN needs strategy to promote private firms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam needs a strategy to promote the development of private firms with a focus on quality, as their contribution to the economy remains modest, attendees heard at a conference in Hà Nội on Friday. “After more than three decades of Đổi Mới (Reform), Việt Nam does not have a true development strategy for private firms,” economic expert Trần Đình Thiên said at the forum about private sector development held by the Việt Nam Institute of Economics. He said that more…

Read More
China 

China will not ‘discriminate’ between state and private companies, vows Premier Li Keqiang

China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing.“We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday.“Through years of efforts, we have cut the time… Source link

Read More
Vietnam 

Hurdles keep private sector from achieving preeminent status: experts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The private sector, despite being considered the driving force of the economy, has yet to achieve a breakthrough due to many reasons, experts said. They were speaking at the Vietnam Economic Conference held in HCM City recently and attended by executives representing more than 300 local and foreign businesses. Asked about the reasons, 54 per cent of attendees said cumbersome administrative procedures, 26 per cent said inability to access capital and 21 per cent blame difficulty in accessing the market. …

Read More
Global 

China’s private companies making a pig’s ear out of paying their bills as economic slowdown bites

Few companies are more symbolic of the horrible year experienced by China’s private sector in 2018 than Chuying Agro-Pastoral Group.The pig breeder from Henan, a province in Central China’s Yellow River Valley, defaulted on a bond worth a total of 1.5 billion yuan (US$223 billion) last year. It then made headlines in China in November when it offered to repay holders of debt it had defaulted on with ham or pork products.To compound matters, large numbers of its livestock starved to death, with… Source link

Read More
Vietnam 

Vingroup to sell 250 million private shares – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Vincom Centre Nguyễn Chí Thanh commercial centre, run by Vingroup. The firm plans to raise VNĐ25 trillion (US$1.07 billion) this year by issuing 250 million private shares to foreign investors. — Photo tieudungplus.vn Viet Nam News HÀ NỘI — Real estate-retail-technology giant Vingroup plans to sell 250 million private shares to a maximum of five foreign investors in the remaining months of the year. The selling price is set at a minimum of VNĐ100,000 (US$4.30) per share, valuing the deal at least at VNĐ25 trillion ($1.07 billion). …

Read More
China 

Chinese private firms ‘being held back by prejudice as a result of government support for state-owned enterprises’

Chinese private companies are being held back by stereotypes that paint them as less reliable than state-owned enterprises when it comes to repaying their debts, fulfilling their contractual obligations or attracting talent, the boss of a pharmaceutical company has warned.Yang Wenlong, chairman of the private Renhe Group, said these prejudices made it harder for private companies to get loans, adding that this unfair treatment was a consequence of the implicit guarantees the government gave to… Source link

Read More
Home 

Insurers jumping aboard Hong Kong’s new private health care programme – with tax breaks and coverage up to age 100

Hong Kong residents – totalling about 7.3 million people – have access to public medical coverage, which includes doctor visits at clinics, hospitalisations and surgeries. Taxpayer dollars cover 90 per cent of costs, meaning some operations might cost one-tenth as much as at private hospitals. The city public hospitals are swamped by people needing medical attention, meaning non-urgent surgeries may be delayed up to years. Meanwhile, clinic visits may take many hours of waiting. The government-backed VHIS hopes to alleviate some of that stress by offering those of higher means…

Read More
Home 

Zuckerberg says Facebook’s future is going big on private chats

Facebook chief executive Mark Zuckerberg said on Wednesday the company would encrypt conversations on more of its messaging services and make them compatible, the latest sign that the world’s biggest social network sees its future in intimate online chats.Zuckerberg said in a post on his Facebook profile that within a few years direct messaging would dwarf discussion on the traditional, open platform of Facebook’s news feed, where public posts can go viral across the world.“Working towards… Source link

Read More
Home 

China’s debt-fuelled ‘aircraft of private businesses’ took off – and then the tank ran dry

Daniel Wu, a Hong Kong based banker, remembers an investment proposal two years ago: A team from a subsidiary of the China Minsheng Investment Group (CMIG), a private conglomerate founded under the direction of Premier Li Keqiang in 2014, tried to persuade him to finance a property project being planned in Vietnam’s Ho Chi Minh City, along the Saigon River.“They depicted a marvellous plan to turn the area into another Lujiazui,” Wu said, referring to the financial hub of Shanghai. Wu’s company,… Source link

Read More