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Chinese court recognises Singapore judgment based on principle of reciprocity

February 1, 2017

BEIJING – In what is seen as a “first” in China, the Nanjing Intermediate People’s Court has handed down a decision recognising and enforcing a civil judgment made by the Singapore High Court, based on the principle of reciprocity. The landmark development is the first time a Chinese court has recognised and enforced a Singapore commercial judgment, according to lawyers Baker & McKenzie.

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.