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Brutal interventions in Sanpower’s debt workout show why China’s deleveraging campaign has long ways to go

On a pleasant autumn morning on September 5 last year, an emergency meeting was convened by the deputy legal director of the China Banking and Insurance Regulatory Commission (CBIRC) in the Jiangsu provincial capital of Nanjing.In attendance were representatives of 98 banks and financial institutions from all over China, Jiangsu’s deputy governor Fei Gaoyun and Nanjing’s deputy mayor Ran Hua.The objective of the meeting was to devise a rescue plan for Sanpower Group, a hometown conglomerate… Source link

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Vietnam 

Vietnamese products on show at exhibit in China – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A booth of Vietnamese firm at the SIAL China 2019. Photo  baoquocte.vn SHANGHAI — Twenty-five Vietnamese enterprises are showcasing their products at the SIAL China 2019 – Asia’s largest food and beverage exhibition – in Shanghai, China.   Their goods include dairy, cashew nuts, coffee, dried fruits, fruit beverages and coconuts. The annual exhibition is being participated in by some 4,300 businesses from 70 countries and territories worldwide. The event, which runs until tomorrow, is expected to lure more than 110,000 visitors. On the sidelines of the event’s opening ceremony on Tuesday, the Consulate…

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Police arrest Kangde Xin’s major shareholder in a show of force to support regulator’s crackdown on corporate malfeasance

Chinese police arrested the owner of a company on the Shenzhen Stock Exchange on Sunday, a show of force after the securities regulator pledged to crack down on malfeasance to force the country’s listed companies to improve their corporate governance.Zhong Yu, the 69-year-old former chairman and controlling shareholder of Kangde Xin Composite Material Group, was arrested on Sunday, the public Security Bureau of Zhangjiagang city in eastern China’s Jiangsu province announced via its Sina Weibo… Source link

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Netflix buys rights to another show from Alibaba’s Youku in bid to reach Chinese diaspora

Netflix is acquiring the rights to another show from Alibaba Group Holding’s Youku video service, stepping up efforts to serve Chinese-speaking viewers around the world.The US streaming video giant purchased the rights to a romantic comedy called I Hear You. Netflix will stream 24 episodes of the show in 190 countries and regions from May 15, Alibaba said in a statement. Financial terms were not disclosed.Netflix has been investing in Chinese-language programming for distribution outside China,… Source link

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Singapore 

Singapore putu piring stall featured in new Netflix show Street Food, Singapore, Food News

Making putu piring, the steamed rice cake filled with melted palm sugar or gula melaka and adorned with pandan leaf, was once her parents’ dream. Then, over the years, it became hers. Ms Aisha Hashim is responsible for keeping the legacy of the traditional Malay dessert alive at Traditional Haig Road Putu Piring, which now has four outlets. The 36-year-old next-generation hawker and her family’s stall – which was started in 1985 – are featured in the Singapore episode of Netflix’s new food docuseries Street Food alongside local hawker stalwarts…

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Vietnam 

Leading garment-makers to display goods at Hong Kong’s largest trade show – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — More than 30 leading Vietnamese manufacturers of garments, textiles, handicrafts and fashion accessories will be showcasing their products at one of Asia’s largest exhibitions to be held in Hong Kong at the end of this month.  Goods to be displayed at the show include apparel, fashion jewelry, underwear, swimwear, bags, luggage, scarves, footwear and fabrics all under one roof. The four-day Global Sources Fashion show will feature verified suppliers from major fashion manufacturing hubs, including Việt Nam, China, Hong Kong, Taiwan, South Korea, Bangladesh, India, Indonesia and…

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China’s electric vehicle ambitions to take centre stage at Shanghai auto show

In this file photo from April 25, 2018, a visitor takes a closer look at the Sylphy Zero Emission during the start of Auto China 2018 in Beijing. Nissan and its Chinese partner will display the Sylphy, an all-electric model designed for China that went on sale in August, at the Shanghai auto show. Photo: AP Source link

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China data expected to show signs of economic stabilisation

While data due Wednesday is set to show the world’s number two economy slowed in the first quarter to an annual pace of 6.3 per cent, monthly readings of retail sales, investment and industrial output will be scrutinised for signs of renewed health.Analysts from banks including HSBC Holdings and Goldman Sachs are among those expressing increasing confidence in the Chinese outlook. Corporate tax cuts, an upswing in manufacturing and expected progress on a US trade deal are among the factors… Source link

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Vietnam 

Unprofitable State projects show signs of recovery – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade (MoIT) has reported some positive signs in the handling of 12 major State-owned projects that have long reported losses, as some have managed to resume operations after suspensions or even record profits. The information was released at a working session chaired by Deputy Prime Minister Vương Đình Huệ with representatives of the ministry and the projects’ investors in Hà Nội on Wednesday. A report from the ministry showed that two of the projects managed to recover…

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Vietnam 

Việt Nam to attend Taipei food show – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Taipei Food Show in 2018. This year’s event will feature 5,000 stalls displaying food and food processing machinery, packaging equipment, restaurant-hotel-services and Halal products. — Photo industrysourcing.com Viet Nam News HCM CITY — Delegates from Việt Nam will attend the Taipei International 5-in-1 Food Show, the largest trade promotion expo for the Taiwanese food industry, in Taipei from June 19-22. The news was announced by the Việt Nam Chamber of Commerce and Industry’s branch in HCM City and the Taiwan External Trade Development Council in HCM City (TAITRA)…

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