Sunday, April 5 2020 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
BEIJING - Construction of the new Beijing Daxing International Airport was completed on Sunday, and preparations have started for the operation of what is expected to be one of the world's busiest air traffic hubs.
BEIJING - Chinese manufacturing contracted in June for the first time in four months as new orders decreased amid reports of trade tensions.
SINGAPORE - China is likely to tolerate greater renminbi flexibility if the currency faces depreciation pressures due to ongoing US-China trade tensions, S&P Global Ratings said today. The renminbi may face depreciation pressures for two reasons, S&P says.
SHANGHAI - Investors in China and Japan can now invest in each other's stock markets through cross-border exchange-traded funds (ETFs) listed on stock exchanges in both countries.
SHANGHAI - China Mobile has revealed details of its 5G ambitions, giving further shape to China's rapid transition to the next generation of mobile internet.
SINGAPORE -- S&P Global Ratings today assigned its 'B' long-term foreign currency rating to a proposed benchmark size U.S.-dollar-denominated senior unsecured notes to be issued by Sri Lanka (B/Stable/B).
BEIJING - China's Ministry of Civil Affairs has asked local authorities to act prudently in a campaign against improper geographic names, according to a report in Caixin, which said the statement came after recent reports on proposed name corrections of hotels and residential areas in several provinces.
SHANGHAI - Huawei has unveiled another homegrown smartphone chip, while under a US ban that limits its access to American component suppliers.
HONG KONG - A survey conducted by the Hong Kong Trade Development Council (HKTDC) shows that China mainland parents' now spend an average RMB2,596 yearly on toys, .with a frequency of purchase of 15.7 times in a year, suggesting that toys have become a consumer product bought on a regular basis.
HONG KONG - Global corporate capital expenditure growth is fading fast, says S&P Global Ratings, which is forecasting an increase of only 3% in 2019. This follows a mere 2% growth in last year's annual survey, and will offer little help in sustaining the current economic cycle, S&P says.
HONG KONG - A mid-year export review by the Hong Kong Trade Development Council shows that escalating trade tensions are undermining growth prospects. "Escalating trade tensions and heightened geo-political uncertainties have severely decelerated Hong Kong's export growth momentum, increasing the urgency for local businesses to further diversify their operations and open up new markets," the report says.
SINGAPORE -- Singapore companies may be in for a run of financial distress, according to an S&P Global Ratings, which says a survey of 375 listed companies in Singapore found one-third had weak credit metrics, with interest coverage below 2x in the past 12 months.
SHANGHAI - Britain could start exporting beef to China again later this year, both nations have confirmed, bringing to an end a 23-year import ban imposed during the mad cow disease epidemic in the 1990s, the China Daily reports.
HANOI - Vietnam has introduced a new taxation regime for foreign service providers including e-commerce business. In a Client Alert, lawyers Baker McKenzie say that both banks and foreign suppliers (having no permanent establishment in Vietnam) will now be required to file and pay tax in Vietnam.
SINGAPORE - S&P Global Ratings has answered a number of frequently-asked questions related to its recent upgrade of Indonesia and related rating actions in a new report published today.
SHANGHAI - China's new Nasdaq-style high-tech board started operations today. Yi Huiman, chairman of the China Securities Regulatory Commission, announced the news this morning in Shanghai, according to a Caixin Global report.