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Shanghai talk show host arrested for sharing stock tips ahead of next week’s debut of the tech focused Star Market

Shanghai police have detained Liao Yingqiang, a well-known TV host, along with seven employees of his company, for providing stock tips to small investors ahead of the trading debut of the city’s new technology innovation board Star Market.The police said in a statement on Monday evening that Liao and seven others, including his elderly brother, offered advisory services to investors through seminars without obtaining proper licences from authorities.The police did not reveal the full names of… Source link

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Stocks Blog: Investors brace for data expected to show decline in China exports

Happy Friday, traders — Overnight, Fed Chairman Jerome Powell gave more signals that an interest rate cut is ahead later this month. Today, we’ll have June trade data out of China. Exports are expected to have fallen due to the trade war. We’ll have three new listings in Hong Kong on the main board. We’ll keep you up on the latest. Please shoot any feedback to deb.price@scmp.com . — Georgina Lee and Deb Price in Hong Kong  Source link

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Vietnam 

Vietnamese goods on show in South Korea – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Vietnamese booth at the Import Goods Fair (IGF) 2019 in South Korea. Photo VNA SEOUL — A number of Vietnamese enterprises are showcasing goods including handicrafts, dairy products, food and beverages at the 17th Import Goods Fair (IGF), which opened in Seoul on Thursday. Participants include the Vietnam Dairy Products Joint Stock Company (Vinamilk), Ecolink, Fair Trade conditions Craftbeauty, Global Trading Connection Co and An Thịnh Co.    Hosted by the Korea Importers Association (KOIMA), the annual IGF has attracted more than 25 firms from 46 countries and territories.    …

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Micron’s shipments to Huawei show that in the globalised world, American technology products are not necessarily American

American technology products aren’t necessarily American.At least, that’s the conclusion some US executives have come to. That loophole could explain why Micron Technology and Intel have resumed shipping to Huawei Technologies after the Trump administration blocked US companies from supplying the Chinese firm and some peers.During an earnings conference call Tuesday, Micron CEO Sanjay Mehrotra said: “To ensure compliance, Micron immediately suspended shipments to Huawei and began a review of… Source link

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Chinese asset buyers unfazed by Brexit drama show strong interest in acquiring British companies

The UK is emerging as a preferred destination for Chinese outbound investment as they shun the US amid the US-China trade war and tougher regulatory scrutiny, say investment bankers.According to Charles Maynard, founding partner of investment adviser BDA Partners, it is natural for the Chinese to look at the UK for M&A opportunities at this time given the state of relations between the world’s two most powerful economies.“Brexit or not, the UK is open for business,” said the London-based… Source link

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Singapore 

Images of ‘new’ ERP readers do not show actual units to be used; details yet to be finalised: LTA, Singapore News

SINGAPORE – You may have seen some of them on online forums or shared on websites – photos purportedly showing the new Electronic Road Pricing (ERP) readers to be introduced next year. These images are not actual depictions of the new on-board unit (OBU), for the next generation ERP, slated to be rolled out progressively from next year, the Land Transport Authority (LTA) has clarified. In a Monday (June 17) Facebook post, LTA said it was aware of photos of the supposed next generation OBU circulating online. “We are still…

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White Rabbit milk tea sells at 2,000 per cent premium as Chinese consumers show support for local brands amid trade war

It is not all doom and gloom when it comes to the US-China trade war.At a time when more than US$300 billion dollars worth of Chinese exports to the United States face increased tariffs of 25 per cent, milk tea by storied Shanghai brand White Rabbit is selling at a premium of about 2,000 per cent – all in the name of national pride.Residents are willing to pay as much as 500 yuan (US$72) for a taste of the milk tea, which normally sells for 19-23 yuan, in a black…

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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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