Vietnam 

Đà Nẵng tightens land management to combat price hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The city of Đà Nẵng has issued a document requesting the management and supervision of real estate brokerages and land transactions be enhanced to prevent unusual price hikes caused by the spread of false information. Individuals and organisations found to have fabricated rumours regarding development projects would be strictly punished, Đà Nẵng Standing Party Committee said. Việt Nam News Agency reported that false rumours disseminated by brokers contributed to hugely inflated land prices in the central city recently. Real estate…

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Vietnam 

Bình Dương tightens real estate – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Many real estate companies from HCM City and Đồng Nai have moved to do business in Bình Dương province. — cafef.vn Viet Nam News HCM CITY – The hot development of the real estate market in the southern province of Bình Dương has led to hundreds of projects that now provide thousands of apartments for residents and migrant workers, but many violations by investors in the projects have occurred. As many as 358 housing projects covering over a total area of 4,500 hectares have received licenses, but only…

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Home 

Minsheng sets up M&A fund with CICC as China tightens control on private education sector

Minsheng Education Group, a Chinese private college and high school operator, will set up a merger and acquisition fund with investment bank China International Capital Corporation (CICC), according to a filing to the Hong Kong stock exchange on Wednesday. The move comes amid mounting worries over China’s tightened controls on the expansion of private schools through M&A deals, which has hammered the Chinese education stocks around the world. The fund – a partnership with CICC’s fund management arm CICC Capital – aimed to raise 10 billion yuan (US$1.5 billion) over…

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Home 

As the state tightens its grip on the economy, will China reject capitalism again?

China has just celebrated the 40th anniversary of its economic liberalisation. While everyone praised Deng Xiaoping again for his vision and leadership, one of his famous sayings, “Let some people get rich first”, was conveniently not mentioned. Amid widening inequality in China, that slogan just doesn’t feel appropriate now. If China were to hold a referendum today on increasing or decreasing state controls, chances are that the public would vote overwhelmingly for increasing them. Capitalists and liberals in the country must be relieved that holding a referendum is not a…

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China 

China tightens cybersecurity rules on domestic financial information providers to protect stock markets

China’s new cybersecurity rules bring domestic financial information providers in line with regulations that have governed mainland-based foreign bureaus since 2009 and vow to punish those fabricating news or distorting the country’s monetary and fiscal policies. The Cyberspace Administration of China (CAC) released the regulation on Wednesday that governs financial data and information providers which serve institutional and “certain professional investors”, in an apparent crackdown on content deemed detrimental to the country’s financial stability. The new rules, which take effect on February 1, will extend the scope of the government’s…

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Ecommerce 

India tightens e-commerce rules, likely to hit Amazon, Flipkart

India will ban e-commerce companies such as Amazon.com and Walmart -owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the government also said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1. “An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on…

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Vietnam 

Khánh Hòa tightens hotel rating – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A bird’s eye view of Nha Trang, Khánh Hòa Province. Khánh Hòa People’s Committee is seeking more rigorous inspections of hotel ratings. — Photo vneconomy.vn Viet Nam News HÀ NỘI — Khánh Hòa People’s Committee has requested a tightening of the hotel rating system in an effort to enhance management of the hospitality market in the central province. Accordingly, the provincial Department of Tourism will carry out inspections and find a way to deal with hotels which advertise star ratings despite not yet being officially rated. The…

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China 

China tightens control of local economic data ahead of expected weak growth next year

China’s central government has ordered authorities in the country’s export hub, Guangdong province, to stop producing a regional purchasing managers’ index for the manufacturing sector as it seeks to control the flow of sensitive economic data. The order by the National Bureau of Statistics (NBS) means the province will now not release purchasing managers’ index (PMI) data for either October or November. The move comes as Beijing looks to tighten its grip on the dissemination of economic news amid the trade war with the United States. Industry insiders and analysts…

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Home 

Chinese internet giant Tencent tightens control of WeChat content amid industry-wide clampdown

Chinese internet giant Tencent Holdings has taken another step to tighten control and management of content posted on its messaging and social media app WeChat by cutting back the number of official accounts allowed for producers amid a sustained government crackdown on the type of materials that appear online. “To create a green and orderly content ecosystem”, WeChat reduced the maximum number of accounts for companies to two from five previously, and to one account for individuals from two, according to an announcement from Tencent on Friday. Companies can still…

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Home 

Chinese internet giant Tencent tightens control of WeChat content amid industry–wide clampdown

Chinese internet giant Tencent Holdings has taken another step to tighten control and management of content posted on its messaging and social media app WeChat by cutting back the number of official accounts allowed for producers amid a sustained government crackdown on the type of materials that appear online. “To create a green and orderly content ecosystem”, WeChat reduced the maximum number of accounts for companies to two from five previously, and to one account for individuals from two, according to an announcement from Tencent on Friday. Companies can still…

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