China is taking more steps to open up its economy to foreign investors, as it aims to further facilitate investment and spur growth despite disruptions from the COVID-19 pandemic and mounting international uncertainties, officials and experts said on Tuesday (Oct. 20).
Ant IPO pushes demand for HK dollar to most on record
Share sales in HK have raised a combined US$23.4 billion through late September, the third-most globally, according to a research note from accounting firm KPMG
Hong Kong10-20 15:41:34
Didi eyes 2021 HK IPO, valuation of more than US$60 bn
Didi, backed by technology investment giants SoftBank, Alibaba and Tencent, has started initial talks with investment banks for the long-awaited IPO
Hong Kong10-20 15:26:02
Impossible Foods launches in HK stores, eyes mainland market
Impossible Foods' Chief Executive Pat Brown said the firm wanted to build a complete plant-based supply chain in the country and make it a domestic industry
Hong Kong10-20 15:09:40
US stocks retreat at close as stimulus hopes fade
Wall Street ended lower on Monday (Oct. 19), erasing early gains amid signs of rising coronavirus infections and dwindling hope of a stimulus deal for the US economy.
China will support Shenzhen's lead in capital market construction
China will support Shenzhen to take the lead in capital market construction under the newly implemented plan for comprehensive pilot reforms in Shenzhen, said China's top securities regulator on Sunday (Oct.18).
IMF: China to be the only economy with positive growth in 2020
China continues to be the only economy in the world to show positive growth in 2020 as its GDP is predicted to expand 1.9 percent this year, according to the latest economic outlook released by the International Monetary Fund (IMF) on Tuesday (Oct. 13).
WTO says EU can slap tariffs on US$4bn in US goods
The World Trade Organisation ruled that the European Union could impose tariffs worth US$4.0 billion on US imports in retaliation for illegal American aid to plane maker Boeing, a year after the EU was sanctioned for its support of Airbus.
Mainland probe delays approval for Ant's IPO: report
China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned US$35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said.
Citibank fined US$400mn for lax risk management
US authorities fined Citibank US$400 million over deficiencies in risk management practices and required an overhaul of internal controls at the global financial powerhouse, officials announced on Wednesday (Oct. 7).
IMF urges infrastructure investment to boost post-COVID growth
The International Monetary Fund on Monday said member governments should seize a low interest rate opportunity to invest in infrastructure to drive recovery from the coronavirus pandemic and a shift toward greener energy.
Paul Chan: New iBonds to guarantee better returns
The Financial Secretary, Paul Chan, said the government will soon issue a new round of inflation-linked iBonds at a more attractive guaranteed rate of return for investors.
Japan's unemployment rate rises to 3% in Aug, highest in over 3 years
Japan's unemployment rate rose from 2.9 percent in July to 3 percent in August for the first time in over three years as the coronavirus pandemic continued to weigh on business activities, according to government data released on Friday (Oct.2). The jobless rate hit its worst level since the 3.1 percent recorded in May 2017.
The Chinese yuan just had its best quarter in 12 years
The Chinese yuan is drawing attention as a haven from volatility after its best quarter in 12 years.
Top US airlines starting 32,000 furloughs
American Airlines and United Airlines, two of the largest US carriers, said they were beginning furloughs of over 32,000 workers on Thursday (Oct.1) as hopes faded for a last-minute bailout from Washington.