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China’s new restrictions on outbound investments

January 27, 2017

HONG KONG - China is strengthening its regulatory practice with respect to the outflow of overseas investment funds, and  restricting domestic enterprises from making irrational or risky overseas investments, lawyers Baker & McKenzie warn in a Client Alert. “Although we have yet to see a formal, unified approach, we have seen regulators closely examining overseas investments for authentic investment transactions and for strict compliance with all related rules and regulations,” the Alert says.

A cyclical IP upturn for Asian tigers, but will it persist?

January 26, 2017

HONG KONG - Singapore has reported an impressive industrial production (IP) result, up 21.3% YoY in December, mirroring trends in other Asian tiger countries, such as South Korea and Taiwan. But the question is whether it will last, says global asset manager Natixis. This note seeks to answer three questions: a) what is driving the rebound?; b) will this cyclical upturn last into 2017?; and c) what impact will this have on growth?

S&P affirms China ratings at 'AA-/A-1+', but outlook remains Negative

January 26, 2017

 HONG KONG – Ratings agency Standard & Poors says China's reforms to its fiscal and monetary policies, coupled with its anti-corruption campaign, should help support its sovereign creditworthiness. S&P today affirmed its 'AA-/A-1+' sovereign credit ratings on China, but said reliance on credit-fuelled growth poses the downside risk of a hard landing.

Hong Kong, Bangkok leading world destinations in 2015 - Euromonitor

January 26, 2017

LONDON - Despite falling arrivals, Hong Kong remained the top city destination in the world for the seventh consecutive year in 2015, with 26.7 million international visitors, according to Euromonitor International research. Bangkok overtook London as the world’s second most visited city, with 10% growth in international arrivals.

S&P takes Melco Crown (Macau) off CreditWatch Negative

January 24, 2017

HONG KONG – S&P Global Ratings today affirmed its 'BB' long-term corporate credit rating on Melco Crown (Macau) Ltd. (Melco Crown). It said the outlook is negative. “At the same time, we lowered our long-term Greater China regional scale rating on the Macau-based casino operator to 'cnBB+' from 'cnBBB-' and on the notes to 'cnBB' from 'cnBB+', said S&P Global Ratings credit analyst Sophie Lin.

Demand for luxury returns with China’s wealthy earning, spending more

January 19, 2017

SHANGHAI - China's wealthiest people have been busier earning big money, and more content to spend up big in 2016, according to the Hurun Report's latest findings. The report is based on a four-month survey of about 450 millionaires on the Chinese mainland, defined as those with a personal wealth of more than RMB10 million yuan (USS 1.46 million).