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China's US$3 trillion Local Government debt problem proves sticky, says S&P

August 22, 2019

HONG KONG -- China's efforts to exit RMB20 trillion (US$3 trillion) in hidden local government debt has been ineffective, according to S&P Global Ratings. "China's central authorities have tried to force local governments to drag their liabilities into view, and onto balance sheets," S&P Global Ratings credit analyst, Susan Chu, said.

More Hong Kong traders look to offshore production, procurement

August 9, 2019

HONG KONG -- With the US continuing to impose additional tariffs of up to 25% on many imported Chinese products, more Hong Kong traders are looking to cushion the impact by actively shifting their production or procurement bases to ASEAN countries -- such as Cambodia, Indonesia, Myanmar, the Philippines and Thailand -- that benefit from the US's Generalised System of Preferences (GSP).