#Newspaper
Exclusive: India foreign investment rules aimed at China to include Hong Kong
//New Indian rules to ensure scrutiny of investments from companies based in neighbouring countries, especially during the coronavirus outbreak, will also apply to Hong Kong
//foreign direct investments from countries with which it shares a land border would require prior government approval to deter “opportunistic” takeovers and acquisitions during the pandemic
//A substantial part of Chinese investments is routed through the Asian financial centre given its market expertise and deep pool of liquidity.
//“It’s common sense how Hong Kong investment should be taken. Investment from there is no different to China,”
//Some experts believe the total investment coming through Chinese entities is far higher as it is routed through multiple jurisdictions.
//The new rules govern entities located in a country that shares a land border with India and will be applicable even if the “beneficial owner” of an investment is from those nations.
//the new rules of scrutiny would apply to foreign direct investments in greenfield projects.
//The new rules are seen slowing down investment timelines and straining Indian startups that get regular funding from major Chinese companies, especially when the coronavirus outbreak has already hit them hard.
//India took the decision after several local industry groups flagged concerns around Chinese inflows during the spread of coronavirus that had made some Indian businesses more vulnerable to takeovers
//Several ministries, including India’s foreign affairs department, then pitched for changes and studied similar restrictions that had been imposed by countries such as Germany and Australia
Full Article: Reuters, (20-Apr)
Further reading:
Govt Prepares Detailed Plan to Evacuate Stranded Indians Across Globe
https://www.youtube.com/watch?v=DNiyZc9gmP4
Coronavirus: Virgin Australia eyed by three Chinese airlines for rescue deal
https://7news.com.au/news/aviation/coronavirus-virgin-australia-eyed-by-three-chinese-airlines-for-rescue-deal-c-984678.amp
#India #Investment #Restriction #Globalization #FinancialHub #China #LamChao #Economy
Exclusive: India foreign investment rules aimed at China to include Hong Kong
//New Indian rules to ensure scrutiny of investments from companies based in neighbouring countries, especially during the coronavirus outbreak, will also apply to Hong Kong
//foreign direct investments from countries with which it shares a land border would require prior government approval to deter “opportunistic” takeovers and acquisitions during the pandemic
//A substantial part of Chinese investments is routed through the Asian financial centre given its market expertise and deep pool of liquidity.
//“It’s common sense how Hong Kong investment should be taken. Investment from there is no different to China,”
//Some experts believe the total investment coming through Chinese entities is far higher as it is routed through multiple jurisdictions.
//The new rules govern entities located in a country that shares a land border with India and will be applicable even if the “beneficial owner” of an investment is from those nations.
//the new rules of scrutiny would apply to foreign direct investments in greenfield projects.
//The new rules are seen slowing down investment timelines and straining Indian startups that get regular funding from major Chinese companies, especially when the coronavirus outbreak has already hit them hard.
//India took the decision after several local industry groups flagged concerns around Chinese inflows during the spread of coronavirus that had made some Indian businesses more vulnerable to takeovers
//Several ministries, including India’s foreign affairs department, then pitched for changes and studied similar restrictions that had been imposed by countries such as Germany and Australia
Full Article: Reuters, (20-Apr)
Further reading:
Govt Prepares Detailed Plan to Evacuate Stranded Indians Across Globe
https://www.youtube.com/watch?v=DNiyZc9gmP4
Coronavirus: Virgin Australia eyed by three Chinese airlines for rescue deal
https://7news.com.au/news/aviation/coronavirus-virgin-australia-eyed-by-three-chinese-airlines-for-rescue-deal-c-984678.amp
#India #Investment #Restriction #Globalization #FinancialHub #China #LamChao #Economy
Reuters
Exclusive: India foreign investment rules aimed at China to include Hong Kong - sources
NEW DELHI (Reuters) - New Indian rules to ensure scrutiny of investments from companies based in neighbouring countries, especially during the coronavirus outbreak, will also apply to Hong Kong, two senior government sources told Reuters on Monday.
#NetizensVoice
In 2018, Xi Jinping already mentioned to replace Hong Kong with Hainan Island
(01 Jun)What’s wrong with Hainan’s Economy?
30 November 2018 at 10:45
President Xi Jinping visited Hainan Island at the beginning of the year and announced a series of measures to stimulate its economy, which included establishing the country’s largest free-trade zone in order to attract international investment.
Such an announcement triggered a lot of excitement. Apart from the zone, the Hainan Government also proposed a plan that would allow foreigners to enjoy uncensored internet access upon entering Hainan Province, but the suggestion later ceased to proceed.
Scholars involved in Hainan’s reformation plan told the press that Hainan Province will try the most advanced systems and practises in the world, including learning from Hong Kong and Dubai. In the future it will become China’s delegate and play an important role in boosting the world’s confidence.
Some people are expecting Hainan to become “Bali+Hong Kong” in the near future and are hoping that Hainan will later overtake Hong Kong.
Half a year has passed, has Hainan’s economy managed to make any progress? Statistics can explain everything.
The Bureau of Statistics of Hainan Province has just released Hainan’s economic data of October and it has shocked a lot of people.
The saleable area of houses sold from January to October in 2018 dropped 36% whereas sales revenue fell by 20% in comparison to the same period last year.
Another major source of economic growth, investment in fixed assets, ask dropped an astonishing 14.7%.
Transportation of freight also experienced an economic downturn with a decrease of 2.2%.
In October alone, Hainan Government’s fiscal revenue also showed a rare downward trend: the overall public budget revenue fell by 4.2% compared with the same period last year while the pre-expenditure fell by 3.1%.
As for the major consumer goods, vehicle production experienced a steep drop of 71.2%.
Many are concerned because if the trend persists, Hainan will soon replace the three provinces in Northeast of China and become the province with the slowest economic growth.
What exactly is wrong with Hainan’s economy?
Source: LIHKG
https://lih.kg/2046914
#Hainan #Xi #Hainan #FreeTradeZone #BluePrint #FinancialHub #Ecomony #ChinaPropaganda
In 2018, Xi Jinping already mentioned to replace Hong Kong with Hainan Island
(01 Jun)What’s wrong with Hainan’s Economy?
30 November 2018 at 10:45
President Xi Jinping visited Hainan Island at the beginning of the year and announced a series of measures to stimulate its economy, which included establishing the country’s largest free-trade zone in order to attract international investment.
Such an announcement triggered a lot of excitement. Apart from the zone, the Hainan Government also proposed a plan that would allow foreigners to enjoy uncensored internet access upon entering Hainan Province, but the suggestion later ceased to proceed.
Scholars involved in Hainan’s reformation plan told the press that Hainan Province will try the most advanced systems and practises in the world, including learning from Hong Kong and Dubai. In the future it will become China’s delegate and play an important role in boosting the world’s confidence.
Some people are expecting Hainan to become “Bali+Hong Kong” in the near future and are hoping that Hainan will later overtake Hong Kong.
Half a year has passed, has Hainan’s economy managed to make any progress? Statistics can explain everything.
The Bureau of Statistics of Hainan Province has just released Hainan’s economic data of October and it has shocked a lot of people.
The saleable area of houses sold from January to October in 2018 dropped 36% whereas sales revenue fell by 20% in comparison to the same period last year.
Another major source of economic growth, investment in fixed assets, ask dropped an astonishing 14.7%.
Transportation of freight also experienced an economic downturn with a decrease of 2.2%.
In October alone, Hainan Government’s fiscal revenue also showed a rare downward trend: the overall public budget revenue fell by 4.2% compared with the same period last year while the pre-expenditure fell by 3.1%.
As for the major consumer goods, vehicle production experienced a steep drop of 71.2%.
Many are concerned because if the trend persists, Hainan will soon replace the three provinces in Northeast of China and become the province with the slowest economic growth.
What exactly is wrong with Hainan’s economy?
Source: LIHKG
https://lih.kg/2046914
#Hainan #Xi #Hainan #FreeTradeZone #BluePrint #FinancialHub #Ecomony #ChinaPropaganda
LIHKG 討論區
原來習維尼係2018年已經提及過要將海南島整成新香港
http://www.xinhuanet.com/politics/2020-06/01/c_1126061034.htm
支那官方份野的確係琴日
然後我GOOGLE海南島就發現呢篇野
海南島經濟怎麼了 2018年11月30日10:45
習近平年初視察海南島，宣布了一系列提振海南經濟的措施，包括宣佈在海南成立全國最大的自貿區，吸引國際投資者到海南島。
當時引起不少人亢奮，海南省政府部門更提出過，外國人進入海南省後，可以免受網路長城規限，自由上網，但意見最後不了了之。
參與海南改革的學者透露，海南島會…
支那官方份野的確係琴日
然後我GOOGLE海南島就發現呢篇野
海南島經濟怎麼了 2018年11月30日10:45
習近平年初視察海南島，宣布了一系列提振海南經濟的措施，包括宣佈在海南成立全國最大的自貿區，吸引國際投資者到海南島。
當時引起不少人亢奮，海南省政府部門更提出過，外國人進入海南省後，可以免受網路長城規限，自由上網，但意見最後不了了之。
參與海南改革的學者透露，海南島會…
#Interview #LawKachung
Hong Kong top analyst Law Ka-chung left China-based bank because "top of Beijing political circle" said so
(1 May) Law Ka-chung joined the Hong Kong branch of Bank of Communications (BOCOM) in 2005. Two years later, he got promoted as the Chief Economist and Strategist. He write freely and criticized the Hong Kong and China economic systems without any restriction for many years. He started feeling the pressure from China related to his work around 2010.
//"People think it is not appropriate to have a Hongkonger as spokesperson for a China-based bank."
//China-based banks adjusted policy and extended the scope to "purge" Hongkongers step by step. China-base banks don't hire local young people anymore.
//the main point was the system problem...It is about politics and the decision is from top to down (from Beijing)."
//China would like to connect the world via China-based banks... "China sent a lot of people to Hong Kong to learn how the external financial market worked."
//In 2010, he announced that BOCOM would stop comment or run analysis related to China affairs... the excuse BOCOM used was "China affair should come from the China headquarter."
//the decision of the Hong Kong branch "was not from the bank, but it was top-down from there Communist Party of China (CCP).”
//China GDP started to slow down from 10.5% in 2010 to 9,5% and 7.9% year by year. "In the beginning, China didn't think they would collapse because of your comments. However, when things get worse, they would like you to shut up," ...When the economy gets worse, the nature of CCP comes out.
//the Hong Kong financial market changed and put too much focus on China because capital from China soared rapidly.
//So-called financial institutes not only did their own business but also executed political mandate.
//"If you want to be an international financial centre, you can't focus on Asian markets only. You should cover the America and Europe markets as well."
//Hong Kong government and China-based banks focused solely on China market and often launched China related financial products.
//if China wants to internationalize RMB, financial institutes issues RMB bonds everywhere, and China-based banks has to promote that.
//"In the 1980s, when China wanted to take over Hong Kong, they planned to replace all the Hong Kong people with the mainland Chinese. It is just about time to push all of the Hongkongers out."
//BOCOM requested staff to attend marches against umbrella movement in 2014 and counted who attended.
//the impact of SARS in 2003 was much worse.
//Why did the analyst need to align with the Government?
//the demand during umbrella movement in 2014 was still about a general election. However, some voices in the anti-ELAB movement are related to Hong Kong independence and topple the regime in China... China doesn't care about the special status of Hong Kong and execute hard-line policy.
//Since China government can't brainwash the young generation, they turned against all Hongkongers.
//People worried the China will take over private wealth... Hong Kong enforce the law at random, and Hong Kong judicial was overridden, one country two systems is completely over."
//"Money will leave astonishing like leakage in water pipe. And it will never come back."
//speed up de-globalization, Asian countries replacing China as global factory, the agent of capital flow and investment foundation moving to Singapore and away from Hong Kong.
//"The financial centre is losing power. China market is declining. Our financial centre position will diminish."
Full translation:
https://telegra.ph/Hong-Kong-top-analyst-Law-Ka-chung-left-China-based-bank-because-top-of-Beijing-political-circle-said-so-06-28
Source: In Medium
#NationalSecurityLaw #AntiELAB #RMB #Mainlandization #FinancialHub #SharpPower #Censorship #Kowtow
Hong Kong top analyst Law Ka-chung left China-based bank because "top of Beijing political circle" said so
(1 May) Law Ka-chung joined the Hong Kong branch of Bank of Communications (BOCOM) in 2005. Two years later, he got promoted as the Chief Economist and Strategist. He write freely and criticized the Hong Kong and China economic systems without any restriction for many years. He started feeling the pressure from China related to his work around 2010.
//"People think it is not appropriate to have a Hongkonger as spokesperson for a China-based bank."
//China-based banks adjusted policy and extended the scope to "purge" Hongkongers step by step. China-base banks don't hire local young people anymore.
//the main point was the system problem...It is about politics and the decision is from top to down (from Beijing)."
//China would like to connect the world via China-based banks... "China sent a lot of people to Hong Kong to learn how the external financial market worked."
//In 2010, he announced that BOCOM would stop comment or run analysis related to China affairs... the excuse BOCOM used was "China affair should come from the China headquarter."
//the decision of the Hong Kong branch "was not from the bank, but it was top-down from there Communist Party of China (CCP).”
//China GDP started to slow down from 10.5% in 2010 to 9,5% and 7.9% year by year. "In the beginning, China didn't think they would collapse because of your comments. However, when things get worse, they would like you to shut up," ...When the economy gets worse, the nature of CCP comes out.
//the Hong Kong financial market changed and put too much focus on China because capital from China soared rapidly.
//So-called financial institutes not only did their own business but also executed political mandate.
//"If you want to be an international financial centre, you can't focus on Asian markets only. You should cover the America and Europe markets as well."
//Hong Kong government and China-based banks focused solely on China market and often launched China related financial products.
//if China wants to internationalize RMB, financial institutes issues RMB bonds everywhere, and China-based banks has to promote that.
//"In the 1980s, when China wanted to take over Hong Kong, they planned to replace all the Hong Kong people with the mainland Chinese. It is just about time to push all of the Hongkongers out."
//BOCOM requested staff to attend marches against umbrella movement in 2014 and counted who attended.
//the impact of SARS in 2003 was much worse.
//Why did the analyst need to align with the Government?
//the demand during umbrella movement in 2014 was still about a general election. However, some voices in the anti-ELAB movement are related to Hong Kong independence and topple the regime in China... China doesn't care about the special status of Hong Kong and execute hard-line policy.
//Since China government can't brainwash the young generation, they turned against all Hongkongers.
//People worried the China will take over private wealth... Hong Kong enforce the law at random, and Hong Kong judicial was overridden, one country two systems is completely over."
//"Money will leave astonishing like leakage in water pipe. And it will never come back."
//speed up de-globalization, Asian countries replacing China as global factory, the agent of capital flow and investment foundation moving to Singapore and away from Hong Kong.
//"The financial centre is losing power. China market is declining. Our financial centre position will diminish."
Full translation:
https://telegra.ph/Hong-Kong-top-analyst-Law-Ka-chung-left-China-based-bank-because-top-of-Beijing-political-circle-said-so-06-28
Source: In Medium
#NationalSecurityLaw #AntiELAB #RMB #Mainlandization #FinancialHub #SharpPower #Censorship #Kowtow
Telegraph
Hong Kong top analyst Law Ka-chung left China-based bank because "top of Beijing political circle" said so
(1 May) Law Ka-chung joined the Hong Kong branch of Bank of Communications (BOCOM) in 2005. Two years later, he got promoted as the Chief Economist and Strategist. He write freely and criticized the Hong Kong and China economic systems without any restriction…
#Newspaper
Tokyo seeks to lure financial groups from crisis-hit Hong Kong
//Protests and Beijing clampdown seen as opportunity to promote Japanese capital
as alternative financial centre
//Japan is considering visa waivers, tax advice and free office space for asset managers, traders and bankers from Hong Kong in a campaign to cast Tokyo as the best exit strategy should a crisis force them out of the semi-autonomous territory.
//Japan has spent decades looking for ways to make Tokyo a valid rival to Hong Kong as the region’s premier financial centre... will now go “further than ever before” to entice financial professionals and institutions to its capital.
//Tokyo’s efforts now had the “tailwind” of Beijing’s proposed new national security law, which has triggered mass protests in Hong Kong and which many fear will fundamentally alter the legal and commercial environment of the former British colony.
//Fidelity International recently chose Tokyo as the business continuity site for part of its buyside trading operations. Longer-term goals... would involve convincing larger institutions to move entire trading desks to Tokyo.
//the government could also temporarily lift a requirement for fund managers arriving under the new scheme to have a permanent office address, allowing them to work out of shared-office facilities.
//People involved in promoting Tokyo as an alternative to Hong Kong admitted it was unlikely the campaign would be backed by any significant changes in tax policy
Full article: Financial Times, (21-Jun)
#NationalSecurityLaw #Tokyo #HongKong #CapitalOutflow #FinancialHub #Japan
Tokyo seeks to lure financial groups from crisis-hit Hong Kong
//Protests and Beijing clampdown seen as opportunity to promote Japanese capital
as alternative financial centre
//Japan is considering visa waivers, tax advice and free office space for asset managers, traders and bankers from Hong Kong in a campaign to cast Tokyo as the best exit strategy should a crisis force them out of the semi-autonomous territory.
//Japan has spent decades looking for ways to make Tokyo a valid rival to Hong Kong as the region’s premier financial centre... will now go “further than ever before” to entice financial professionals and institutions to its capital.
//Tokyo’s efforts now had the “tailwind” of Beijing’s proposed new national security law, which has triggered mass protests in Hong Kong and which many fear will fundamentally alter the legal and commercial environment of the former British colony.
//Fidelity International recently chose Tokyo as the business continuity site for part of its buyside trading operations. Longer-term goals... would involve convincing larger institutions to move entire trading desks to Tokyo.
//the government could also temporarily lift a requirement for fund managers arriving under the new scheme to have a permanent office address, allowing them to work out of shared-office facilities.
//People involved in promoting Tokyo as an alternative to Hong Kong admitted it was unlikely the campaign would be backed by any significant changes in tax policy
Full article: Financial Times, (21-Jun)
#NationalSecurityLaw #Tokyo #HongKong #CapitalOutflow #FinancialHub #Japan
Ft
Tokyo seeks to lure financial groups from crisis-hit Hong Kong
Protests and Beijing clampdown seen as opportunity to promote Japanese capital as alternative financial centre
#Newspaper
Foreign Firms Surrendering More Hong Kong Office Space
//As Hong Kong’s economy deteriorated amid the pandemic, many companies cut jobs and postponed or even canceled expansion plans.
//Multinational companies surrendered more office space in Hong Kong last quarter, pushing the city’s vacancy rate to the highest in 15 years.
//The recent introduction of the national security law, which allows the government to seize property assets if the owner is suspected of being linked to activities endangering national security, has also triggered concern over Hong Kong’s status as an international financial hub.
Full Article: Bloomberg
https://bloom.bg/329uqrs
#nationalsecuritylaw #pandemic #financialhub
Foreign Firms Surrendering More Hong Kong Office Space
//As Hong Kong’s economy deteriorated amid the pandemic, many companies cut jobs and postponed or even canceled expansion plans.
//Multinational companies surrendered more office space in Hong Kong last quarter, pushing the city’s vacancy rate to the highest in 15 years.
//The recent introduction of the national security law, which allows the government to seize property assets if the owner is suspected of being linked to activities endangering national security, has also triggered concern over Hong Kong’s status as an international financial hub.
Full Article: Bloomberg
https://bloom.bg/329uqrs
#nationalsecuritylaw #pandemic #financialhub
Bloomberg
Foreign Firms Surrendering More Hong Kong Office Space
Multinational companies surrendered more office space in Hong Kong last quarter as the economy deteriorated amid the pandemic, pushing the city’s vacancy rate to the highest in 15 years, according to Cushman & Wakefield Plc.
#Newspaper
China’s new national security law in Hong Kong could mark the end of the city
//The new national security law in Hong Kong passed unilaterally last month bans all forms of secession, subversion, terrorism, and collusion with a foreign country, in the name of China's national security.
//The new law threatens a maximum penalty of life in prison, allows mainland national security agencies to establish a formal presence in the city for the first time, and grants the Hong Kong Police extra power.
Together with the recently passed national anthem law, it has been used to crack down on pro-democracy activism in Hong Kong, which has been escalating over the past year. The new laws led to the banning of popular protest phrases and the plucking of pro-democracy books from libraries.
The text of the law was kept secret by China until it was passed, and while lawyers have noted that there are worrying discrepancies between the Chinese and English versions of the text, both versions use very broad language. The law applies to people and companies inside and outside of Hong Kong, which means it applies to everyone, everywhere.
The city's status as a financial hub may be in peril as multinational companies try and navigate the consequences of the new law. Many such companies have already started moving their assets out of Hong Kong and the US has been moving to end preferential treatment for Hong Kong in trade and travel.
Hong Kong’s leader Carrie Lam described the law as mild while Beijing asserted that the new law will help reinforce the “One Country, Two Systems” agreement. People of Hong Kong including legal scholars and pro-democracy activities have on the other hand sounded the alarm over the new law and agreed that Hong Kong will now likely operate in a fundamentally different way.
Activists have pledged to continue fighting for Hong Kong while countries including the US, UK, and Australia have proposed measures to protect Hong Kong residents fleeing potential political persecution.
Full Article: Business Insider
https://bit.ly/2ZASpxO
#nationalsecuritylaw #flee #FinancialHub #democracy
China’s new national security law in Hong Kong could mark the end of the city
//The new national security law in Hong Kong passed unilaterally last month bans all forms of secession, subversion, terrorism, and collusion with a foreign country, in the name of China's national security.
//The new law threatens a maximum penalty of life in prison, allows mainland national security agencies to establish a formal presence in the city for the first time, and grants the Hong Kong Police extra power.
Together with the recently passed national anthem law, it has been used to crack down on pro-democracy activism in Hong Kong, which has been escalating over the past year. The new laws led to the banning of popular protest phrases and the plucking of pro-democracy books from libraries.
The text of the law was kept secret by China until it was passed, and while lawyers have noted that there are worrying discrepancies between the Chinese and English versions of the text, both versions use very broad language. The law applies to people and companies inside and outside of Hong Kong, which means it applies to everyone, everywhere.
The city's status as a financial hub may be in peril as multinational companies try and navigate the consequences of the new law. Many such companies have already started moving their assets out of Hong Kong and the US has been moving to end preferential treatment for Hong Kong in trade and travel.
Hong Kong’s leader Carrie Lam described the law as mild while Beijing asserted that the new law will help reinforce the “One Country, Two Systems” agreement. People of Hong Kong including legal scholars and pro-democracy activities have on the other hand sounded the alarm over the new law and agreed that Hong Kong will now likely operate in a fundamentally different way.
Activists have pledged to continue fighting for Hong Kong while countries including the US, UK, and Australia have proposed measures to protect Hong Kong residents fleeing potential political persecution.
Full Article: Business Insider
https://bit.ly/2ZASpxO
#nationalsecuritylaw #flee #FinancialHub #democracy
Business Insider
China's new national security law in Hong Kong is a gut punch to the city's freedoms. It could mark the end of Hong Kong as we…
The new national security law in Hong Kong has wide-reaching consequences for the future of the city's economy and political freedoms.
#Newspaper
Japanese Brokerage SBI Weighs Leaving Hong Kong Amid Turmoil
//Japan’s biggest online brokerage is considering pulling out of the city by as soon as March on the view that the recently enacted national security law has eroded its attraction as a financial center
//SBI’s stance reflects growing concern among international companies that the new law will diminish Hong Kong’s autonomy and fuel tensions between China and the U.S. More than a third of Japanese firms operating in the city are either reviewing their presence there or thinking about doing so
Full article: Bloomberg, (09-Sep)
#FinancialHub #brokerage #SBI #NationalSecurityLaw
Japanese Brokerage SBI Weighs Leaving Hong Kong Amid Turmoil
//Japan’s biggest online brokerage is considering pulling out of the city by as soon as March on the view that the recently enacted national security law has eroded its attraction as a financial center
//SBI’s stance reflects growing concern among international companies that the new law will diminish Hong Kong’s autonomy and fuel tensions between China and the U.S. More than a third of Japanese firms operating in the city are either reviewing their presence there or thinking about doing so
Full article: Bloomberg, (09-Sep)
#FinancialHub #brokerage #SBI #NationalSecurityLaw