China 

China issues new rules on infrastructure financing due to implicit debt concerns

China has taken actions to regulate a major tool for local governments to leverage support for their infrastructure construction after the latest nationwide financial audit indicated continued local violations of rules that threaten to further increase an already mountainous level of implicit debt.The government has worked hard to curb hidden liabilities, including off-budget sheet borrowing and financial guarantees, amid its deleveraging campaign to reduce excess debt and risky lending over… Source link

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China considers unwinding rules it put in place after the last equity market crash; proposed change to ease company fundraising

China’s securities regulator is considering scrapping profitability requirements in mergers and acquisitions (M&A) for listed companies, as a way to facilitate secondary fundraising as the trade war weighs on Chinese growth and threatens to push the global economy into recession next year.Under consideration is an amendment to remove profitability requirements in M&A deals involving listed companies, the China Securities Regulatory Commission (CSRC) said in a statement issued on its official… Source link

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Shanghai exchange moves to curb speculation even before trading starts at Nasdaq-style tech board, introduces suspension rules

The Shanghai Stock Exchange introduced rules to limit speculation on the Star Market, its new technology innovation board, on Friday.Chinese regulators are prioritising stability for the trading debut of the Nasdaq-style market, which was launched on Thursday during the annual Lujiazui Forum. It is expected to start trading within two months, the exchange’s chairman, Huang Hongyuan, said.According to the new rules, shares on the Star Market will be allowed to trade freely for the first five… Source link

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Home 

Can the ‘world’s factory’, Dongguan, tame its runaway land prices by changing auction rules?

Authorities in Dongguan, a major manufacturing hub near Shenzhen, have changed the way land auctions are carried out in a bid to cool the sizzling market.It comes after a flurry of aggressive bidding wars involving developers desperate to get a foothold in the Greater Bay Area drove Dongguan’s land prices to unprecedented levels in the first five months of the year.Under the new mechanism, instead of awarding the land to the highest bidder, it will go to the developer whose offer is closest to… Source link

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Money 

China relaxes infrastructure project finance rules, but analysts warn it will have limited economic impact

China’s latest stimulus move to bolster economic growth by relaxing restrictions on how the proceeds of local government bonds are used, paving the way for a new wave of infrastructure investment, will only have limited impact on the overall economy, analysts warned.Local governments can now use the funds raised as equity capital for major infrastructure projects having previously needed to fund the minimum equity ratio requirement, usually 20 to 30 per cent of total investment in the project,… Source link

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Singapore 

Nearly 130 PMDs seized in May for flouting rules, Singapore News

Nearly 130 personal mobility devices (PMDs) were seized by the authorities last month in an ongoing drive to deter errant users. The seizures come amid growing debate over whether such devices should be allowed to share the pavement with pedestrians. In a video posted on Facebook yesterday, the Land Transport Authority (LTA) said it had impounded a total of 157 devices – 127 PMDs and 30 e-bikes – for offences such as not complying with regulations and riding on the wrong paths. LTA officers caught 325 users last month in…

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Money 

Chinese, US finance chiefs find common ground on need to reform global tax rules

While China and the US are at loggerheads over trade and technology, their finance chiefs on Saturday found some common ground on the need to reform global tax rules to cope with digitalisation and the rise of e-commerce.Speaking at a symposium on taxation during the Group of 20 finance leaders’ meeting in Fukuoka, Japan, Chinese Finance Minister Liu Kun said the international community needed to work together to tackle the challenges brought by the digital economy, rapid growth of information… Source link

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Vietnam 

MoC: rules for condotels, officetels coming this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Ministry of Construction will complete standards and regulations relating to condotel and officetel this year. – Photo dantri.com.vn     HÀ NỘI – Minister of Construction Phạm Hồng Hà said at the Tuesday meeting of the National Assembly that his ministry and the Ministry of Natural Resources would complete regulations relating to condotel and officetel this year. In response to delegate Lý Thiết Hạnh, Minister Hà said the Ministry of Construction (MoC) was responsible for revising standards and regulations relating to condotels…

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Chinese car stocks accelerate as new tax rules trigger speculation of more support from Beijing

Shares in Chinese car makers surged in late trading on Friday on hopes that Beijing will eventually roll out more supportive policies to bolster the battered industry.The government released specific rules on Friday regarding the implementation of a new vehicle purchase tax, which was approved in December and will come into effect in July. The legislation set the tax rate at 10 per cent, instead of the rumoured 5 per cent the industry had hoped for.Analysts and investors said that even though… Source link

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Global 

Donald Trump is a business ‘killer’ who ‘never plays by the rules’, say Chinese exporters after tariff threat

US President Donald Trump is a business “killer” who “never plays by the rules”, according to China’s manufacturers who have been left reeling by the news that tariffs will be increased from 10 per cent to 25 per cent on US$200 billion of Chinese imports into the United States.Trump issued the threat to increase the tariffs in a tweet on Sunday, changes which were confirmed US trade representative Robert Lighthizer some 24 hours later, with the new rates set to become effective at 12.01am on… Source link

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