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Hong Kong regulator continues tough sanctions for breaches of disclosure

April 13, 2017

HONG KONG – Hong Kong’s  Market Misconduct Tribunal has fined Mayer Holdings Limited and nine of Mayer's current and former senior executives a total of HK$10.2 million for breaches of disclosure obligations under Hong Kong’s Securities and Futures Ordinance, and disqualified them from being directors or being involved in the management of a listed corporation for up to 20 months.

Vietnam adopts long-awaited policy on solar energy, but number of issues unresolved

April 18, 2017

HANOI - The Government of Vietnam has released its new official policy for the development of solar power projects in Vietnam. It is aimed at enabling the private sector to invest in clean energy sources that can help meet Vietnam’s surging demand for electricity, but lawyers Baker McKenzie warn that it leaves a number of issues unresolved, and these may have an impact on the bankability of solar projects, especially for large utility-scale solar power plants.

Subic Bay opens to direct Korea, Taiwan trade

April 12, 2017

MANILA - Container terminals managed and operated by International Container Terminal Services, Inc. (ICTSI) at Subic Bay Freeport will help facilitate increasing trade between Korea, Taiwan and the Philippines, with Evergreen Marine Corp. launching a new direct service at key ports of the three trading economies.
Evergreen, Taiwan’s largest shipping company, is launching its new Korea-Taiwan-Philippines (KTP) service in Subic, adding the ICTSI-operated New Container Terminals 1 and 2 to its port rotation.

Environment the watchword for new Beijing SEZ as Shanghai FTZ plans further liberalisation

April 6, 2017

BEIJING - High environmental standards will be set for the proposed Xiongan New Area, an economic zone near Beijing designed to integrate the capital with its surrounding areas. Key words in the building plans will be “international standards,” “Chinese characteristics,” “reform” and “innovation,” said He Lifeng, head of the National Development and Reform Commission, China’s top planning body.

Air cargo demand continuing to lift a trade recovers

April 6, 2017

GENEVA – The International Air Transport Association (IATA) has released demand growth results for global air freight markets for February 2017 showing an 8.4% increase in demand measured in freight tonne kilometres (FTKs) compared to the same period last year. After adjusting for the impact of the leap year in 2016, demand increased by 12% -- almost four times better than the five-year average rate of 3.0%.

China to stick to “one country, two systems” in Hong Kong, says Xi

April 12, 2017

BEIJING – China’s State newsagency, Xinhua, has reported President Xi Jinping as saying the Central Government is determined to stick to the principles of “one country, two systems”, “Hong Kong people governing Hong Kong” and a high degree of autonomy for the southern city. That determination would not change or waver, he said.

Corporate payments improve in China in 2016, but ultra-long overdues are up

April 5, 2017

HONG KONG - A survey on corporate credit risk management by global credit insurer, Coface, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of respondent companies experiencing overdue payments in 2016 (compared to the previous 5-year average of 80%) and fewer respondents reporting an increase in overdue amounts.