China 

China will not turn to global financial crisis stimulus playbook to offset US trade war, says Beijing adviser

China will not introduce another “giant stimulus programme” similar to the one seen during the 2008 global financial crisis to offset the ongoing trade war with the United States and its weakening economy, according to a leading Chinese government researcher.Liu Shangxi, head of the Chinese Academy of Fiscal Sciences, an important think tank under the Ministry of Finance that advises Beijing on fiscal policy, said that instead, Beijing, will rely on tax reductions and budget management reform,… Source link

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Property 

Hong Kong’s new business hub at Kai Tak may fall years late as developers turn skittish

The bold vision to transform the former Kai Tak airport site into a second major business hub in Kowloon East may have to be put on hold for a while, as confidence in the project has been dealt a blow after a local developer judged it too risky to proceed with the purchase of a HK$11.1 billion (US$1.42 billion) site, according to industry experts.The government may opt to defer the sale of some commercial sites at the city’s former airport by up to two years until sentiment improves, a delay……

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Property 

Chinese investors turn to Cyprus property in search of sunshine and EU passports

Chinese investors are thronging the sunny shores of Cyprus in search of property and passports that will allow them to work, travel and live in the European Union.“Cyprus is a beautiful place that offers a very high quality of life, access to Europe and good real estate investment opportunities. One of the big drivers of foreign investment is the Cyprus Investment Programme, which is very popular with mainland Chinese,” said Carrie Law, chief executive and director of property portal Juwai.com… Source link

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Singapore 

Teenagers turn to The Straits Times to improve their English, Singapore News

“Hence, (these activities) help them to be able to read through longer articles, learn to sieve out important information and accurately answer comprehension questions.” For home-schooled teenager Sarah Teo, reading the commentaries and news analysis of political news in The Straits Times is a regular affair. The 15-year-old is a member of Homeschool Model United Nations, a simulation of the United Nations and other international bodies comprising her teenage peers. She and the other members take on roles as delegates and ambassadors on UN committees and debate real-world issues. “When…

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Home 

Hong Kong’s buyers turn up in droves to snap up discounted new homes as prospect of rate cuts trump protests and trade war

Hong Kong’s property buyers turned up in droves to snap up new flats on sale at two districts across the city, taking solace from dovish interest rate stances by US and local monetary authorities.Sun Hung Kai Properties (SHK), the city’s largest developer by value, sold 116 units of the 130 flats offered for sale at the second phase of the Mount Regency complex in Tuen Mun, according to agents. Nearby in Yuen Long, New World Development sold 111 of the 128 flats on offer at Atrium House.Both… Source link

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Singapore 

Mikhy Farrera-Brochez said he’d rather put a bullet in his head than turn over S’pore HIV database: FBI witness, Singapore News

LEXINGTON, KENTUCKY – Mikhy Farrera-Brochez, the American at the centre of the Singapore HIV database leak, first asked his mother to download files which could have included the HIV registry from a server he owned in Singapore back in 2016, three years before the leak became known to the public. His mother Teresa King, who testified on Monday (June 3) on the first day of Farrera-Brochez’s trial before a Kentucky jury, said she did not look at the files she downloaded from Kentucky because her son told her not to.…

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Disney veteran plans to turn a profit at Shenzhen’s new theme park in first year

Next year’s planned opening of a theme park by Chinese developer Kaisa Group promises to be a major challenge for the former Disney executive tasked with overseeing the project, especially with an aggressive target of turning an operating profit within the first year.Noble Coker, president of Kaisa International Resorts Group, says he looks forward to bringing the Golden Bay Resort into operation by the summer of 2020, even as he acknowledges doing so will be a major career challenge.“People… Source link

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Donald Trump’s trade and tech wars with China take a sinister turn, endangering the global economy

Lift one’s eyes to the global horizon and, at present, there seems nothing but bleakness. Compared to the relative calm and common sense of elections in India, the Philippines and Australia, the more distant upheavals feel alarmingly disruptive. Brexit is a shambles. European elections are veering in dangerous directions. And US President Donald Trump’s trade war with China looks more ruinous by the day. At the end of the day – distressing as it is to watch such self-harm being so deliberately… Source link

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Chinese stock market’s fast and furious April was rooted in fear of a monetary policy turn

The Chinese stock market experienced a “fast and furious” month in April. The market kicked off the month on an optimistic note following the release of stellar Purchasing Manager Index figures. Many investors were hoping for another bull market, but quickly the major stock indices erased almost all the monthly gains towards the end of April. What caused this roller-coaster ride?At first glance, the pullback does not make sense as China reported quite decent gross domestic product growth and… Source link

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China’s ‘996’ work culture should not turn into Charlie Chaplin’s Modern Times

As a university researcher, I often work “997” – 9am to 9pm, seven days a week. Ten years ago, I left another 997 job as a junior lawyer and decided to embark on a PhD at Oxford. I rarely question my motivation to work 997 these days, even on a paycheck that is one-third of what I received in my former corporate jobs. Jack Ma, founder of Alibaba, which owns the Post, is right when he said: “If you find a job you like, the 996 problem does not exist;…

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