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Popular Chinese hotpot chain sets its sights on US, to open first outlet in New York early next year

Xiaolongkan, one of China’s largest hotpot chains, will open its first shop in the US in early 2020 and add nine more restaurants overseas in the next two years, the latest indication of the Chinese hotpot industry’s global ambition.The Sichuan-based chain is bringing its famous spicy hotpot to New York as soon as the first quarter of next year, company officials said. It has just signed a lease for a 500 square metre space in a new commercial complex named Tangram located in Flushing, also… Source link

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China 

Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported Friday, showcasing that its deleveraging campaign to reduce high debt and risky lending is succeeding.In total, 21 banking institutions rejected loan applications worth 911.7 billion yuan (US$131.7 billion) from “high risk” customers, while also receiving alerts on outstanding “high risk” loans worth 1… Source link

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Vietnam 

MoC: rules for condotels, officetels coming this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Ministry of Construction will complete standards and regulations relating to condotel and officetel this year. – Photo dantri.com.vn     HÀ NỘI – Minister of Construction Phạm Hồng Hà said at the Tuesday meeting of the National Assembly that his ministry and the Ministry of Natural Resources would complete regulations relating to condotel and officetel this year. In response to delegate Lý Thiết Hạnh, Minister Hà said the Ministry of Construction (MoC) was responsible for revising standards and regulations relating to condotels…

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More than a year after China’s ban on waste imports, the world is still learning to clean up after itself

Almost two years after China’s shock announcement at the World Trade Organisation headquarters in Geneva that, as part of its “National Sword” policy, it would from the start of 2018 no longer be the world’s lap sap haven (lap sap means rubbish in Cantonese), the world of waste continues to roil. I use the word carefully, because roil can mean to make water muddy or turbid, or it can simply mean to annoy or upset everyone. At the time, China did both.I always used to muse over China’s role,… Source link

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Vietnam 

Pork shortage expected later this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A slaughterhouse in HCM City. The city has encouraged businesses to buy healthy pigs and stockpile frozen pork to prepare for potential shortages caused by the spread of African swine fever. — VNA/VNS Photo Mạnh Linh HÀ NỘI — Việt Nam is expected to import more pork in the coming months to make up for domestic shortages as African swine fever continues to spread, according to the Ministry of Industry and Trade (MoIT). MoIT’s Centre for Industry and Trade Information said pork is being sold at unusually low prices because of lower demand.…

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ESR Cayman, Asia-Pacific’s largest warehouse landlord, set to raise up to US$1.2 billion in Hong Kong’s biggest IPO so far this year

ESR Cayman, the largest logistics landlord in Asia-Pacific backed by private equity firm Warburg Pincus, has shrugged off the impact of the US-China trade war on the capital markets by launching Hong Kong’s biggest IPO so far this year.The company is seeking to raise up to HK$9.76 billion (US$1.24 billion) by issuing 560.7 million shares at an indicative offer price range of HK$16.2 to HK$17.4 per share. It has reserved the option of issuing an additional 15 per cent or 84.1 million shares,… Source link

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Outstanding entrepreneurs allow their talent to shine and inspire at prestigious EY Entrepreneur Of The Year award

[Sponsored article] As an innovative force in the market, and an inspiring source of new ideas, goods, services and business models — entrepreneurs are one of the key driving forces behind business and economic growth in the world. Yet, many such motivators prefer to keep low profiles. To celebrate entrepreneurship and to champion entrepreneurs’ outstanding contribution to the economy, in 1986, leading international professional services firm EY established the EOY award in the United States… Source link

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Vietnam 

VN hopes to enter MSCI watchlist this year, but experts are uncertain – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vingroup’s Vincom Center Landmark 81 in HCM City. Vingroup has recently sold US$1 billion worth of shares to the South Korean SK Group. – Photo vneconomy.vn HÀ NỘI – One year after failing to enter MSCI’s watchlist for a market status upgrade, it is still uncertain if Việt Nam will make it this year despite efforts made to improve market conditions. In June 2018, Morgan Stanley Capital International (MSCI) rejected Việt Nam’s inclusion on its watchlist for a market status upgrade from “frontier market” to “emerging”. Instead, MSCI raised…

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Global 

Vietnam biggest winner from first year of the US-China trade war as supply chains shift, report shows

Vietnam is the biggest winner from the shift in supply chains caused by the nearly year-long trade war between China and the United States, according to a report, as importers from the world’s two largest economies sought to avoid paying increased tariffs.The economy of the southeast Asian nation has been boosted by almost 8 per cent due to the shift in production resulting from the US-China trade war, according to analysis by Japanese investment bank Nomura.The bank studied trade data for the… Source link

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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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