Facing an economic crisis and consequently fewer US dollars and other hard currencies, Egypt floated a three-year sustainability panda bond worth 3.5 billion yuan (US$478 million) in October. Panda bonds – typically denominated in yuan and issued in China by non-Chinese organisations, including governments and corporations – have gained traction as traders and countries seek
China’s state planner has called for more investment in equipment upgrades to help support the country’s energy transition. The energy upgrade plan calls for investment in renewable and power grid technologies, energy conservation, and coal power plant flexibility—areas that Beijing has signaled will be key to the transition from coal to lower-carbon power. The plan
China is closely monitoring the use of virtual assets in money laundering activities, according to the country’s highest court, in a move that legal experts say could increase the risk of prosecution for trading cryptocurrency on the mainland. Using virtual assets to transfer or convert criminal proceeds is among a range of money laundering methods
“Many companies are actively pursuing plans to list in Hong Kong. The string of national policies benefiting Hong Kong is expected to play a supporting role in different economic sectors when they are rolled out successively.” Chan added that the value of the city’s merchandise exports had recorded double-digit year-on-year growth for three consecutive months,
“We hope Cathay Pacific Airways will continue to improve service quality and support and enhance Hong Kong’s status as an international aviation hub,” Chan wrote in his weekly blog. “Looking forward, local airlines should actively expand their route networks in response to the needs of economic development, business connections and public travel and facilitate the
Beijing, China’s capital, has finally joined other major Chinese cities in relaxing home buying restrictions to bolster the property market. The Beijing Municipal Commission of Housing and Urban Development said on Wednesday that it was lowering the down payment ratio for first-time homebuyers to 20 per cent from at least 30 per cent previously. For
“Hong Kong, an international finance centre, is also a knowledge hub,” said Ma Jun, chairman of co-host Capacity-building Alliance for Sustainable Investment (CASI). “The CASI event will bring together over 30 speakers with sustainable finance knowledge” from Hong Kong, mainland China, Europe, North America, Australia and east, south and central Asia. The other co-hosts are
Investors are always chasing good growth stocks, and artificial intelligence (AI) shares are the new darlings. The government-owned Hong Kong Investment Corporation (HKIC) has joined the fray. It has formed its first commercial partnership with home-grown unicorn SmartMore, an AI specialist that produces visual inspection machines for industrial production and assembly lines, which already has
Hong Kong’s finance minister has conceded that investment from the US could drop under the looming threat of sanctions, but maintained the city remained well-positioned to attract international talent and businesses. Financial Secretary Paul Chan Mo-po was speaking to the press during a Beijing-organised media tour to promote the Greater Bay Area, two weeks after
China’s central bank has backed the government’s plans to use public resources to absorb the nation’s unsold homes as it moves to remove an inventory overhang in the world’s largest property market, which a data provider said could take as long as 18 months to work through. People’s Bank of China (PBOC) on Wednesday held