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Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans

Mortgage loans for new homes provided by banks inched up 1.5 per cent in 2018, but the proportion of loans offered by non-banking financial companies, mainly developers’ finance companies, jumped to 21.7 per cent of the total, up from 14.6 per cent in 2017. Photo: Felix Wong Source link

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Vietnam 

Central bank asks for tightened control over real estate loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The State Bank of Việt Nam has asked for control over real estate loans of credit institutions to be enhanced, especially in areas showing signs of land price fever. — Photo vneconomy.vn HÀ NỘI — The State Bank of Việt Nam (SBV) has asked for the control over real estate loans by credit institutions to be enhanced, especially in areas showing signs of land price fever. SBV’s Governor Lê Minh Hưng in a recent document about lending operations in 2019 asked its branches and banks to keep a close…

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Vietnam 

Hà Nội proposes tightened management of social network businesses – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under stricter management. — Photo vietbao.vn Viet Nam News HÀ NỘI — The Hà Nội Market Management Department has said businesses operating on social networks such as Facebook, Zalo and Viber should be under the same management as e-commerce websites. E-commerce websites that violate regulations may be shut down under the law and have their domain names revoked. In addition, there should be close co-ordination between…

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Singapore 

Tightened GST relief, smaller duty-free alcohol allowances: 8 things to know before making purchases abroad, Singapore News

SINGAPORE – In Finance Minister Heng Swee Keat’s Budget 2019 statement, he announced that the goods and services tax (GST) import relief will be tightened for travellers returning to Singapore from Tuesday (Feb 19). In addition, the alcohol duty-free concession will also be reduced from April 1. Not sure how these changes affect your next trip overseas? Here are eight things to note before making your purchases abroad.  1. WHAT IS GST AND WHY DO I HAVE TO PAY GST ON MY PURCHASES OVERSEAS? GST is a local consumption tax.…

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Vietnam 

Tightened monetary policy forecast for Q4 2018 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The State Bank of Việt Nam (SBV) will likely continue its tightened monetary policy in the remaining months of the year after its decision to strictly control lending to high risk sectors in the third quarter didn’t adversely affect the country’s economic growth, according to experts. In contrast to some concerns that SBV’s regulations on requiring credit institutions to limit loans to high risk sectors such as real estate, securities and consumption in the third quarter of 2018 could slow down the…

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