China

Hong Kong chief warns UK against interference in democratic reform 0

Hong Kong chief executiveSource: The Guardian

Hong Kong’s top official has warned against British interference in the territory’s politics after a UK Foreign Office minister called for democratic reform in a local newspaper, underscoring lingering sensitivities over foreign influence in the former UK colony. More…

World Bank chief confident of Chinese growth target 0

Jim Yong KimSource: The Star

China should hit its gross domestic product growth target of 7.5% this year, World Bank group president Kim Jim Yong said yesterday.

But he warned that rising interest rates in emerging markets in response to reports that the United States was preparing to scale back its quantitative easing (QE) programme showed that significant risk remained. More…

Ease industrial approvals to hasten employment growth 0

Serge PunSource: The Myanmar Times

Prominent entrepreneur U Serge Pun has called for streamlined procedures for industries planning to set up shop in Myanmar, claiming a simplified approvals process would assist in attracting factories to provide much-needed employment.

U Serge Pun pointed to China where he said the barriers to establishing a factory were lower, with no need to see a multitude of high-ranking government officials before investing. More…

China rejects open nomination for election of Hong Kong leader 0

Chinese and Hong Kong flagsSource: Bloomberg

The Hong Kong public can’t nominate candidates for the next chief executive election under the city’s de facto constitution, China’s top official in the former British colony said, rejecting a lawmaker’s proposal.

The city’s Basic Law states that candidates for the chief executive position have to be nominated by a “broadly representative” committee, Zhang Xiaoming, director of China’s Liaison Office in Hong Kong, said in an open letter to Alan Leong, the head of the Civic Party. More…

Chinese and Indian firms tipped for Kyaukphyu SEZ bidding race 0

7DawooSource: The Irrawaddy

The Burmese government call for international bids to develop a proposed Special Economic Zone around Kyaukphyu on the western coast makes no mention of existing MoUs already signed with Chinese and Japanese companies, and reportedly involving noted crony Burmese businessman Tay Za. More…

Hong Kong-listed firms’ results reflect China’s slowdown 0

0be1a8d00cf185f1f1a007cccb635e2dSource: South China Morning Post

First-half results for Hong Kong-listed companies confirm a general downturn in mainland economic growth, with lower sales revenue and concerns about future earnings tempered by an increase in corporate profitability.

As the reporting season draws to a close, data on the constituents of the MSCI China Index collated by Nomura Securities shows first-half revenues grew 12.5 per cent on average, compared with 14.5 per cent in last year’s first half and 16 per cent in its second half. More…

Chinese company to build “Beijing street” in Mongolian capital 0

Ulan Bator, MongoliaSource: Xinhua

The municipal office of the Mongolian capital city signed a memorandum of understanding with a Chinese construction company here on Tuesday to launch the “Beijing street” project.

Gantomor Nyamdavaa, deputy mayor of Ulan Bator in charge of road, transportation and infrastructure, and China’s Mongolia branch of the Beijing Corporation Engineering Group (BCEG) signed the document, according to a press release. More…

China to reach growth target despite challenges 0

Li KeqiangSource: China Daily

Chinese Premier Li Keqiang on Wednesday reassured the world about the national economy’s health, saying the country will reach its target of 7.5 percent growth this year despite the complex world’s economic situation. More…

Thailand to scrap luxury-goods tax to lure China travelers 0

Louis VuittonSource: Bloomberg

Thailand’s government said it will scrap import duties on luxury watches, clothes and cosmetics to help the country compete with Hong Kong and Singapore for wealthy travelers from markets including China.

The duty on some luxury goods will be cut to zero from 30 percent by the end of the year, Permanent Secretary for Finance Areepong Bhoocha-Oom told reporters in Chonburi province. More…

No more casinos in Laos: Somsavat 0

Laos CasinoSource: The Nation

Laos will no longer grant new concessions for casinos in special economic zones on its soil. It will also overhaul plans for such areas so they have a clear focus and right direction for economic development, Deputy Prime Minister Somsavat Lengsavad said in an interview recently. More…

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