#Newspaper
Doomsday Doctor left Communication Bank due to regime's silencing
LAW Ka Chung: Can't even discuss capital flight
(15 Nov) "Doomsday Doctor of Hong Kong" LAW Ka Chung suddenly left China's Bank of Communications (Hong Kong) which he served for over 14 years. He didn't want to discuss his reasons for leaving. However, as a fellow worker at Central, I couldn't help but feel lost about the changes in social environment that keep on eroding the core values of our financial centre. He feels that a lot of sensitive economic data cannot be disclosed any more. "It used to be the case that, as long as you didn't talk about the yellow-ribbon issues or Hong Kong independence, you were allowed to say anything you want. Now many people can't or don't dare to even talk about things like capital flight.
Continue reading: https://telegra.ph/Doomsday-Doctor-left-Communication-Bank-due-to-regimes-silencing-11-18
#StockMarket #Economic #ChinaApproved #FreeSpeech
Doomsday Doctor left Communication Bank due to regime's silencing
LAW Ka Chung: Can't even discuss capital flight
(15 Nov) "Doomsday Doctor of Hong Kong" LAW Ka Chung suddenly left China's Bank of Communications (Hong Kong) which he served for over 14 years. He didn't want to discuss his reasons for leaving. However, as a fellow worker at Central, I couldn't help but feel lost about the changes in social environment that keep on eroding the core values of our financial centre. He feels that a lot of sensitive economic data cannot be disclosed any more. "It used to be the case that, as long as you didn't talk about the yellow-ribbon issues or Hong Kong independence, you were allowed to say anything you want. Now many people can't or don't dare to even talk about things like capital flight.
Continue reading: https://telegra.ph/Doomsday-Doctor-left-Communication-Bank-due-to-regimes-silencing-11-18
#StockMarket #Economic #ChinaApproved #FreeSpeech
Telegraph
Doomsday Doctor left Communication Bank due to regime's silencing
LAW Ka Chung: Can't even discuss capital flight (15 Nov) "Doomsday Doctor of Hong Kong" LAW Ka Chung suddenly left China's Bank of Communications (Hong Kong) which he served for over 14 years. He didn't want to discuss his reasons for leaving. However,…
#Newspaper
Non-resident deposits in Singapore jump 44% to record S$62b in April
//Deposits from residents outside Singapore jumped 44 per cent to its highest level of S$62.14 billion, according to data by the Monetary Authority of Singapore.
//This includes deposits from persons with registered addresses outside Singapore such as overseas residents, Singaporeans working abroad and companies with a registered overseas address.
//Meanwhile, foreign currency deposits at banks here soared almost four times to a record S$26.97 billion in April from a year ago.
//Collectively, Singdollar and foreign currency deposits saw the largest jump in terms of absolute growth on a month-on-month basis.
//foreign currency deposits have been on the rise in Singapore since the second half of last year, coinciding with the Hong Kong unrest and escalating tensions between the United States and China due to the trade war.
//Foreign currency deposits can come from both residents and non-residents, and have mostly stayed within the S$7-8 billion range in the past few years before July 2019... analysts pointed out that foreign currency deposits make up only about 4 per cent of total deposits in the domestic banking unit.
//As for Singdollar- denominated deposits, the surge is a "reflection of a sharp slowdown in economic activity" brought about the circuit breaker measures
//analysts believe that the influx of deposits for both foreign currency and Singdollar will likely carry on in the near future, with much hanging on geopolitics and the overall state of the economy.
//A national security law announced in Hong Kong last month could see civil unrest flare up, with more investors potentially parking their funds in safe havens such as Singapore
//"In times of crisis, safety is first for depositors... Savers like us will just have to grind our teeth and brace for lower interest rates."
Full Article: Businesstimes, (03-June)
#Singapore #Nationalsecuritylaw #HongKongProtest #economic
Non-resident deposits in Singapore jump 44% to record S$62b in April
//Deposits from residents outside Singapore jumped 44 per cent to its highest level of S$62.14 billion, according to data by the Monetary Authority of Singapore.
//This includes deposits from persons with registered addresses outside Singapore such as overseas residents, Singaporeans working abroad and companies with a registered overseas address.
//Meanwhile, foreign currency deposits at banks here soared almost four times to a record S$26.97 billion in April from a year ago.
//Collectively, Singdollar and foreign currency deposits saw the largest jump in terms of absolute growth on a month-on-month basis.
//foreign currency deposits have been on the rise in Singapore since the second half of last year, coinciding with the Hong Kong unrest and escalating tensions between the United States and China due to the trade war.
//Foreign currency deposits can come from both residents and non-residents, and have mostly stayed within the S$7-8 billion range in the past few years before July 2019... analysts pointed out that foreign currency deposits make up only about 4 per cent of total deposits in the domestic banking unit.
//As for Singdollar- denominated deposits, the surge is a "reflection of a sharp slowdown in economic activity" brought about the circuit breaker measures
//analysts believe that the influx of deposits for both foreign currency and Singdollar will likely carry on in the near future, with much hanging on geopolitics and the overall state of the economy.
//A national security law announced in Hong Kong last month could see civil unrest flare up, with more investors potentially parking their funds in safe havens such as Singapore
//"In times of crisis, safety is first for depositors... Savers like us will just have to grind our teeth and brace for lower interest rates."
Full Article: Businesstimes, (03-June)
#Singapore #Nationalsecuritylaw #HongKongProtest #economic
The Business Times
Non-resident deposits in Singapore jump 44% to record S$62b in April
SINGAPORE saw a record jump in deposits in April as investors rushed to park funds here given its status as a safe haven amidst global market volatility, said analysts. Read more at The Business
#Newspaper
US-China spat puts future of Hong Kong dollar in the spotlight
//Hong Kong has become a focal point in tensions between the US and China, which means that the linked exchange-rate system in place for the past few decades — tying the local dollar to the US dollar — is also in the spotlight.
//The head of the Hong Kong Monetary Authority, the city’s de facto central bank, told the Financial Times recently that the task of defending the Hong Kong dollar has become easier in a world of rock-bottom interest rates.
//The Hong Kong dollar came under fierce pressure too.
//These days, the gap between three-month US and Hong Kong rates is about half a percentage point, which means the incentive for holding the local currency is small.
//if the link were to come under sustained pressure, and higher interest rates proved inadequate to stem outflows, the HKMA might not look to the US Federal Reserve to supply a flow of US dollars.
//That Hong Kong would rely on China rather than the US for support in maintaining the level of the Hong Kong dollar is a sign of the politicisation of central banks, as the stand-off between Beijing and Washington endures.
//In that context, the US central bank would be “crazy” to allow a drawdown of US dollars to the HKMA “without permission from the US Treasury”
//confidence in the system does not depend simply on the weapons that the HKMA is able to deploy... In the past, the strength of the exchange-rate system was ultimately about confidence in the future of Hong Kong as the meeting ground between the worlds of Western capitalism and so-called socialism with Chinese characteristics.
//But as demonstrated this week by the new national security law for Hong Kong, hurriedly approved by Beijing, it is now very much a Chinese city.
Full Article: Financial Times, (01-Jul)
#HongKong #Economic #exchangerate
#US #China #NationalSecurityLaw #HKMA
US-China spat puts future of Hong Kong dollar in the spotlight
//Hong Kong has become a focal point in tensions between the US and China, which means that the linked exchange-rate system in place for the past few decades — tying the local dollar to the US dollar — is also in the spotlight.
//The head of the Hong Kong Monetary Authority, the city’s de facto central bank, told the Financial Times recently that the task of defending the Hong Kong dollar has become easier in a world of rock-bottom interest rates.
//The Hong Kong dollar came under fierce pressure too.
//These days, the gap between three-month US and Hong Kong rates is about half a percentage point, which means the incentive for holding the local currency is small.
//if the link were to come under sustained pressure, and higher interest rates proved inadequate to stem outflows, the HKMA might not look to the US Federal Reserve to supply a flow of US dollars.
//That Hong Kong would rely on China rather than the US for support in maintaining the level of the Hong Kong dollar is a sign of the politicisation of central banks, as the stand-off between Beijing and Washington endures.
//In that context, the US central bank would be “crazy” to allow a drawdown of US dollars to the HKMA “without permission from the US Treasury”
//confidence in the system does not depend simply on the weapons that the HKMA is able to deploy... In the past, the strength of the exchange-rate system was ultimately about confidence in the future of Hong Kong as the meeting ground between the worlds of Western capitalism and so-called socialism with Chinese characteristics.
//But as demonstrated this week by the new national security law for Hong Kong, hurriedly approved by Beijing, it is now very much a Chinese city.
Full Article: Financial Times, (01-Jul)
#HongKong #Economic #exchangerate
#US #China #NationalSecurityLaw #HKMA
New Zealand must be 'respectful' of China, even if there are disagreements - Nanaia Mahuta
The Foreign Affairs Minister says New Zealand and China's significant economic ties mean Aotearoa must be "respectful" of the Asian superpower, even if there are areas of disagreement between the two nations.
Nanaia Mahuta's latest comments come as more overseas commentators accuse Wellington of cosying up to Beijing and undermining its standing within the Five Eyes intelligence-sharing network.
Source: NewsHub #Apr24
https://www.newshub.co.nz/home/politics/2021/04/new-zealand-must-be-respectful-of-china-even-if-there-are-disagreements-nanaia-mahuta.html
#NewZealand #China #Economic #FiveEyes
The Foreign Affairs Minister says New Zealand and China's significant economic ties mean Aotearoa must be "respectful" of the Asian superpower, even if there are areas of disagreement between the two nations.
Nanaia Mahuta's latest comments come as more overseas commentators accuse Wellington of cosying up to Beijing and undermining its standing within the Five Eyes intelligence-sharing network.
Source: NewsHub #Apr24
https://www.newshub.co.nz/home/politics/2021/04/new-zealand-must-be-respectful-of-china-even-if-there-are-disagreements-nanaia-mahuta.html
#NewZealand #China #Economic #FiveEyes
4 cities including in Australia and Taiwan rally “promoting Taiwan’s entry into World Health Service”, attendees: learn from Hong Kong to gain international attention
There were meeting in multiple cities such as Sydney, Melbourne, Canberra and Brisbane in Australia and Taiwan, to urge the international community to support Taiwan formally join into World Health Organisation, which enable the world to effectively respond to the next global pandemic.
The event was held by Australian Association for Taiwan Public Affairs and Australia Taiwanese Association, meeting in Sydney had around 50-60 people, some of them were families. A banner of “Sydney overseas Chinese Support Taiwan’s Joining the WHO”, people who participated the meeting also raised the slogan of “Taiwan Can Help”, and yelled “Health for All, Taiwan can help. Who Needs Taiwan? WHO”. There were also “packages of pandemic” had been distributed to people who participated the meeting. A package has dozens of disposable masks, disinfectant syrup bottles, handmade soap, and a small box of soap silk.
Kevin Dong, who initiated the rally, stated in the press release, “Disease is not racially divided, it does not take into account politics…we urge all the Australian be responsible international citizens, put politics aside, join our meeting for the world”. Another member Jeffrey Wang also stated, “If Taiwan can participate affairs of WHO, the death number globally and the economic trauma are totally can be avoidable”.
Source: Stand News #May01
https://bit.ly/3nLS5qJ
#Australia #Taiwan #WHO #Pandemic #Sydney #Melbourne #Canberra #Brisbane #Economic #InternationalCommunity #meeting
There were meeting in multiple cities such as Sydney, Melbourne, Canberra and Brisbane in Australia and Taiwan, to urge the international community to support Taiwan formally join into World Health Organisation, which enable the world to effectively respond to the next global pandemic.
The event was held by Australian Association for Taiwan Public Affairs and Australia Taiwanese Association, meeting in Sydney had around 50-60 people, some of them were families. A banner of “Sydney overseas Chinese Support Taiwan’s Joining the WHO”, people who participated the meeting also raised the slogan of “Taiwan Can Help”, and yelled “Health for All, Taiwan can help. Who Needs Taiwan? WHO”. There were also “packages of pandemic” had been distributed to people who participated the meeting. A package has dozens of disposable masks, disinfectant syrup bottles, handmade soap, and a small box of soap silk.
Kevin Dong, who initiated the rally, stated in the press release, “Disease is not racially divided, it does not take into account politics…we urge all the Australian be responsible international citizens, put politics aside, join our meeting for the world”. Another member Jeffrey Wang also stated, “If Taiwan can participate affairs of WHO, the death number globally and the economic trauma are totally can be avoidable”.
Source: Stand News #May01
https://bit.ly/3nLS5qJ
#Australia #Taiwan #WHO #Pandemic #Sydney #Melbourne #Canberra #Brisbane #Economic #InternationalCommunity #meeting
立場新聞 Stand News
澳洲台灣人 4 城市集會 促讓台灣入世衛 出席者：從香港學懂爭取國際關注 | 立場報道 | 立場新聞
在澳台灣組織今日（1 日）於悉尼、墨爾本、坎培拉及布里斯本多個城市舉行集會，促請各界支持台灣正式加入世界衛生組...
China indefinitely suspends Strategic Economic Dialogue, accuse Australia's “Cold War mindset” for disrupting normal exchanges
China National Development and Reform Commission (NDRC) issued a statement on Thursday (5 May), saying that it has decided to suspend the China-Australia Strategic Economic Dialogue indefinitely due to Australian government's measures to disrupt the normal exchanges and cooperation out of “Cold War mindset and ideological discrimination”. This is the first diplomatic mechanism that has been formally frozen since the relationship between the two countries deteriorated.
The relation between China and Australia continues to be tense, Australia has been criticizing China on human rights issues in Hong Kong and Xinjiang for many times. Last month the Australian Federal Government cancelled the “Belt and Road” agreements between Victoria state government and China. ABC quoted the analysis saying that it caused China's discontent.
“Some Australian Commonwealth government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination”, said NDRC in a statement. It declared that the decision is “based on the current attitude of the Australian Commonwealth Government toward China-Australia cooperation”, and decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue.
Source: The Stand News #May06
https://bit.ly/2SVdK4k
#China #Australia #Economic #Diplomatic #BeltAndRoad #Xinjiang #HongKong #HumanRights #ABC
China National Development and Reform Commission (NDRC) issued a statement on Thursday (5 May), saying that it has decided to suspend the China-Australia Strategic Economic Dialogue indefinitely due to Australian government's measures to disrupt the normal exchanges and cooperation out of “Cold War mindset and ideological discrimination”. This is the first diplomatic mechanism that has been formally frozen since the relationship between the two countries deteriorated.
The relation between China and Australia continues to be tense, Australia has been criticizing China on human rights issues in Hong Kong and Xinjiang for many times. Last month the Australian Federal Government cancelled the “Belt and Road” agreements between Victoria state government and China. ABC quoted the analysis saying that it caused China's discontent.
“Some Australian Commonwealth government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination”, said NDRC in a statement. It declared that the decision is “based on the current attitude of the Australian Commonwealth Government toward China-Australia cooperation”, and decides to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue.
Source: The Stand News #May06
https://bit.ly/2SVdK4k
#China #Australia #Economic #Diplomatic #BeltAndRoad #Xinjiang #HongKong #HumanRights #ABC
China may hit back against Japan over Taiwan issue but economic action unlikely, analysts say
China is not likely to shy away from retaliating against Japan over the Taiwan issue but it is expected to take security rather than economic measures, according to analysts.
Tensions have escalated after Japanese Prime Minister Yoshihide Suga discussed China-related issues with US President Joe Biden on Friday during talks at the White House. The two leaders called for “peace and stability across the Taiwan Strait”, the first reference to Taiwan – which Beijing claims as its territory – in a joint statement in over 50 years. They also said they would counter China’s “intimidation” in the Asia-Pacific region.
Source: SCMP #Apr20
https://t.co/UJxhaRFwtZ
#China #Japan #Taiwan #Economic
China is not likely to shy away from retaliating against Japan over the Taiwan issue but it is expected to take security rather than economic measures, according to analysts.
Tensions have escalated after Japanese Prime Minister Yoshihide Suga discussed China-related issues with US President Joe Biden on Friday during talks at the White House. The two leaders called for “peace and stability across the Taiwan Strait”, the first reference to Taiwan – which Beijing claims as its territory – in a joint statement in over 50 years. They also said they would counter China’s “intimidation” in the Asia-Pacific region.
Source: SCMP #Apr20
https://t.co/UJxhaRFwtZ
#China #Japan #Taiwan #Economic
Big V’s speech being banned: Ren, Ze-Ping, the Chinese famous economist, speech being banned for involving publication of “printing money to encourage births”
Ren, Ze-Ping, the Chinese famous economist published the theory of “printing money to encourage births” which asserted the Central Bank to print 2 trillion RMB and spend 10 years’ time to encourage the society to birth 50 million babies to solve the labour and economic problem in China nowadays, the relevant speech triggered tremendous dispute. Chinese media found on Wednesday that Ren’s weibo and weixin public account were banned. Some analysis thought that his speech not only unassisted to solve the economic problem in China and would affect the stability of the society.
Ren, Ze-Ping, the former Heng Da Group Chief Economist who has 3,756,000 fans published the the theory of “printing money to encourage births” which asserted disputes. China media found on Wednesday that his weibo account showed “the account was in the status of being banned speech because of violating relevant laws and regulations” and his weixin public account, “ze-ping macroscopic” was banned as well. According to the report from Securities Times, Ren Ze-ping’s weibo and weixin public’s speech were banned two weeks, and other accounts from alternative media platforms were not affected.
Analysis: speech not only unassisted to solve the economic problem in China but also influences society stability
China Finance scholar pointed out that nowadays the economic downward pressure is very big and the Trioka which pulls economic growth (i.e. consumption, investment and import & export) lost their power, in addition with the severe trend of population aging, the eligible labour force is far behind the expectation from external general anticipation. But he thought the speech of Ren not only unassisted to solve the current problem and influences the society stability of China.
Source: RFA #Jan13
https://www.rfa.org/cantonese/news/baby-01132022062917.html
#RenZePing #Economic #Banned #Weibo #Weixin
Ren, Ze-Ping, the Chinese famous economist published the theory of “printing money to encourage births” which asserted the Central Bank to print 2 trillion RMB and spend 10 years’ time to encourage the society to birth 50 million babies to solve the labour and economic problem in China nowadays, the relevant speech triggered tremendous dispute. Chinese media found on Wednesday that Ren’s weibo and weixin public account were banned. Some analysis thought that his speech not only unassisted to solve the economic problem in China and would affect the stability of the society.
Ren, Ze-Ping, the former Heng Da Group Chief Economist who has 3,756,000 fans published the the theory of “printing money to encourage births” which asserted disputes. China media found on Wednesday that his weibo account showed “the account was in the status of being banned speech because of violating relevant laws and regulations” and his weixin public account, “ze-ping macroscopic” was banned as well. According to the report from Securities Times, Ren Ze-ping’s weibo and weixin public’s speech were banned two weeks, and other accounts from alternative media platforms were not affected.
Analysis: speech not only unassisted to solve the economic problem in China but also influences society stability
China Finance scholar pointed out that nowadays the economic downward pressure is very big and the Trioka which pulls economic growth (i.e. consumption, investment and import & export) lost their power, in addition with the severe trend of population aging, the eligible labour force is far behind the expectation from external general anticipation. But he thought the speech of Ren not only unassisted to solve the current problem and influences the society stability of China.
Source: RFA #Jan13
https://www.rfa.org/cantonese/news/baby-01132022062917.html
#RenZePing #Economic #Banned #Weibo #Weixin
Radio Free Asia
【大V禁言】中國著名經濟學家任澤平 涉發表「印錢生娃」論遭禁言
知名經濟學家任澤平早前發表「印錢生娃」論，主張央行多印2萬億鼓勵社會多生5千萬小朋友，解決中國勞動力及經濟問題。言論引發爭議。媒體發現，他的微博及微信公眾號已遭禁。分析認為，這番言論影響社會穩定。
Washington is getting China wrong
Evergrande group, one of China’s largest property developers, is tottering on the brink of bankruptcy. Its founder, Hui Ka Yan, is scrounging to find the cash to meet payments on the $300 billion his company owes. Beijing has warned local officials to prepare for possible fallout if the gargantuan firm collapses. Around the world, financial analysts are wondering if Evergrande is China’s “Lehman moment,” the starting gun for a destructive wave of defaults that could take down the nation’s banks and set back the country’s—and the world’s—already shaky recovery from the pandemic-induced economic downturn.
Source: The Atlantic #Oct11
https://www.theatlantic.com/international/archive/2021/10/evergrande-china-us/620360/
#Washington #China #Evergrande #Economic #Beijing
Evergrande group, one of China’s largest property developers, is tottering on the brink of bankruptcy. Its founder, Hui Ka Yan, is scrounging to find the cash to meet payments on the $300 billion his company owes. Beijing has warned local officials to prepare for possible fallout if the gargantuan firm collapses. Around the world, financial analysts are wondering if Evergrande is China’s “Lehman moment,” the starting gun for a destructive wave of defaults that could take down the nation’s banks and set back the country’s—and the world’s—already shaky recovery from the pandemic-induced economic downturn.
Source: The Atlantic #Oct11
https://www.theatlantic.com/international/archive/2021/10/evergrande-china-us/620360/
#Washington #China #Evergrande #Economic #Beijing