China 

China’s small banks still struggling to obtain funds to lend three months after first bank failure in 20 years

China’s numerous small banks are still struggling to raise the finances needed to be able to offer more loans to aid the slowing economy nearly three months after the country’s first bank failure in more than 20 years.After the government takeover of Baoshang Bank at the end of May, larger banks and investors remain cautious about providing financing to smaller institutions, fearful that their balances sheets hide large numbers of bad loans amid a continued government clampdown on risky lending… Source link

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Home 

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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Vietnam 

VN stocks post small gains amid poor market sentiment – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Employees of FPT Telecom – a member of tech group FPT Corporation (HoSE: FPT) – address with customers’ complaints. The group’s shares gained 2.3 per cent on Monday. — Photo doisongvietnam.vn HÀ NỘI — Vietnamese shares finished almost flat on Monday as investors were discouraged from making new purchases amid a lack of supporting information. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.10 per cent to close at 975.31 points. The VN-Index lost 1.69 per cent in total last week. More than 174.5 million…

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Vietnam 

VN’s logistics firms remain small despite potential – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Containers at Cát Lái Port in HCM City’s District 2. The country’s logistics sector has potential but most projects are of a small scale.VNA/VNS Photo Tiến Lực   HÀ NỘI There are 4,000 Vietnamese businesses operating in the logistics field but most of them are small-scale with weak human resource quality, the Ministry of Industry and Trade (MoIT) reported.   According to the report, Vietnamese logistics enterprises are mainly operating on a small scale, with up to 90 per cent of enterprises having capital of less than VNĐ10…

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Money 

China’s new Star Market turns dozens of founders into overnight billionaires, while some small investors nurse heavy losses

Some small investors may be nursing losses after taking a punt on China’s new board for technology companies, but many of the senior executives of the listed start-ups are celebrating a windfall.The frenzied buying that has fired up the stock prices by an average of 200 per cent since trading began on the Star Market two weeks ago has created at least 30 yuan-denominated billionaires among those who already owned pre-IPO stakes in the companies. Someone with a fortune of 1 billion yuan is worth… Source link

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Home 

China, Hong Kong shares eke out small gains as investors await news on trade talks and Fed interest rate decision

Hong Kong’s Hang Seng Index eked out small gains on Tuesday as protests that have expanded to grievances beyond a now-sidelined extradition proposal continued to weigh on investor sentiment. “Hong Kong is consumed by internal conflict. Outside events don’t matter as much,” said Francis Lun, chief executive of Geo Securities. “The city wallows in chaos.” The Hang Seng closed up 0.14 per cent at 28,146.50. Meanwhile, the Shanghai Composite Index closed up 0.39 per cent to 2,952.34, its highest… Source link

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Property 

China’s top property developers to get bigger amid tightened funding, with mid and small firms forced to sell assets to survive

The latest tightening in funding might drive a fresh round of consolidation among mainland Chinese property developers, with an acceleration in acquisition of land and assets by the biggest players, analysts said.The biggest developers are expected to grow at the expense of smaller rivals, with their performance increasingly deviating from the industry average.“Foreign investors are too bearish about Chinese developers … they see slower sales and heightened government curbs. But what they may… Source link

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Vietnam 

MoF proposes tax cut for small firms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Representatives of businesses pay taxes. The Ministry of Finance plans to apply a corporate income tax rate of 15 per cent to micro enterprises with annual revenue of less than VNĐ3 billion (US$129,000) and a labour force of less than 10. — Photo bnews.vn HÀ NỘI — The Ministry of Finance (MoF) is proposing a regulation that exempts micro and small enterprises from corporate income tax for two years after they have sufficient income subject to taxation. The regulation would be applicable for micro and small businesses which are established from household…

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Vietnam 

Trade agreement to boost exports of micro, small and medium-sized enterprises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Speakers at the APEC capacity-building workshop on the Trade Facilitation Agreement of the WTO for micro, small and medium sized enterprises. — VNS Photo Bồ Xuân Hiệp HCM CITY — The World Trade Organisation (WTO) Trade Facilitation Agreement (TFA) will help micro, small- and medium-sized enterprises (MSMEs) further diversify exports and expand markets, as well as improve GDP growth in Việt Nam, experts said on June 13 at a seminar held in HCM City.   Representatives from APEC-member economies, including government officials, MSME policy-makers, the private sector, and MSMEs discussed the benefits of the agreement at a…

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Home 

Shanghai shares eke out small gain while Hong Kong stocks slip as recession fears resurface

Hong Kong stocks ended lower Wednesday, while mainland benchmarks were mixed, as fears of a global recession resurfaced.The Hang Seng ended down 0.57 per cent, or 155.1 points, at 27,235.71, after the yield of the benchmark three-month US Treasury once again rose above that of the 10-year. The so-called yield curve inversion is seen as warning signal of a looming recession.China benchmarks were mixed, with the CSI 300 ending down 0.23 per cent or 8.35 points at 3,663.91, while the Shanghai… Source link

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