Global 

Can Hong Kong maintain its status amid protests despite Beijing’s push to turn Shenzhen into a financial hub?

As Beijing has whipped up the vitriol against Hong Kong’s anti-government protesters and exerted pressure on companies to act against “offenders”, it has also instituted a plan to elevate neighbour Shenzhen into a global model socialist city that it hopes will lead the nation into its next level of development.The conflicting perspectives on the two cities that share a border may fuel speculation that if Hong Kong does not soon toe the line, it runs the risk of being replaced by Shenzhen as the… Source link

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Property 

Developers hope to leverage Shenzhen’s model city status, price residential project as most expensive in its area

A 665-unit project in Shenzhen could be home to flats worth 20 million yuan, if its developers win approval for an average price of 100,000 yuan (US$13,928) per square metre, industry insiders said.Longhua Jinmao Palace, which was completed eight months ago and has been left unsold since then, could – at a 50 per cent premium over its neighbourhood – become the Shenzhen Longhua district’s most expensive residential development.Last week, China Jinmao Holdings Group and state-owned Power… Source link

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China 

Hong Kong protests could threaten city’s status as an international shipping hub, analysts say

Hong Kong’s status as an international shipping hub could be under threat, should China fast-track plans for economic integration due to the ongoing anti-government protests, analysts said.While Beijing has never spoken publicly about the economic consequences of the escalating protests over the past two months, a widely shared view within China is that the central government should reduce its reliance on Hong Kong as its key financial and logistics gateway to the rest of the world.This could… Source link

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Home 

China hits back at Donald Trump’s ‘absurd’ criticism of its WTO developing country status

China has hit back at US President Donald Trump’s criticism of China’s developing country status at the World Trade Organisation, bringing another dispute between the world’s two countries to the surface as Chinese and American trade negotiators prepare to resume talks on Tuesday in an attempt to end their year-long trade war.The White House demanded on Friday that the World Trade Organisation (WTO) update its definition of “developing country” and remove the favourable treatment that the… Source link

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Singapore 

Man jailed and fined for not disclosing HIV status to prostitutes he slept with, Singapore News

SINGAPORE – A man infected with the human immunodeficiency virus (HIV) was sentenced to 19 months’ jail and fined $2,500 on Friday (July 26) for failing to inform two prostitutes he had sex with about his condition. The 53-year-old, who cannot be named due to a gag order, had earlier pleaded guilty to two charges under the Infectious Diseases Act for failing to disclose that he was HIV-positive to the women. The court heard that the women, both Chinese nationals who rented a one-bedroom apartment from the man, would not…

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Vietnam 

VN fails to make MSCI watchlist for status upgrade – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam has once again failed to enter the Morgan Stanley Capital International (MSCI) watchlist for a market status upgrade following the latest statement on June 26.  Photo cafef.vn HÀ NỘI — Việt Nam has once again missed the chance to break into Morgan Stanley Capital International’s watchlist of potential reclassification for a status upgrade. The US-based global provider of equity, fixed income, hedge fund stock indices and multi-asset portfolio analysis tools on Wednesday reclassified the MSCI Kuwait Index to emerging-markets status from frontier-markets status. The decision was “subject to omnibus…

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China’s Yili and Mengniu spar over sponsorship status for 2022 Winter Olympics in Beijing as stakes run high for dairy giants

A row is brewing between China’s two largest dairy producers over sponsorship rights for the 2022 Winter Olympics in Beijing, underscoring what’s at stake for corporate branding in the biggest winter sporting event on earth.Inner Mongolia Yili Industrial Group, China’s largest milk company and exclusive dairy products sponsor of the 2022 Winter Games, is threatening to pull its sponsorship after accusing its smaller rival China Mengniu Dairy of buying its way into the marketing campaign and … Source link

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China 

US-China trade war weighed on Beijing’s decision not to pursue WTO market economy status, analysts say Why is China throwing in the towel over market economy status at the WTO?

The ongoing trade war with the United States was an important factor in China’s decision to halt a case against the refusal of the European Union to grant Beijing “market economy” status at the World Trade Organisation, analysts say.The pursuit of market economy status has been a long-term strategic goal for China, since it would enable it to avoid the anti-dumping cases it often faces because of its model of selling cheap goods to developed markets. It would also be a symbolic recognition of… Source link

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Shanghai tech board unlikely to challenge Hong Kong’s status as preferred IPO hub for Chinese biotech firms

Volatile stock markets as a result of the unresolved US-China trade war will affect the valuations of Chinese biotech IPOs, but Hong Kong’s status as an IPO hub will remain undiminished and compete strongly with the upcoming tech board in Shanghai, say investment bankers.“The funds available here and in China are incredibly deep, I anticipate that this market should hold as it goes through the ups and downs,” said Philip Ross, JPMorgan’s vice-chairman of investment banking with a focus on… Source link

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Hong Kong’s special status with the US is safe for now, but not for the reasons you think

As the US-China economic cold war heats up and Beijing clenches its grip on Hong Kong ever tighter, fears are growing that the White House may strip the city of its special status under US law.The prospect has caused a great deal of anguished hand-wringing among the city’s business community, which fears for its profits.On closer examination, however, the professions of anxiety are overblown. Hong Kong’s special position in US law is likely to be secure for the time being – although not for the… Source link

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