Saturday, October 21 2017 | ASIA TODAY INTERNATIONAL - Reporting the Business that Matters in Asia
HONG KONG – A new HSBC survey has found that 54 per cent of Chinese businesses will offer discounts of up to five per cent for transactions settled in RMB.
“There are very real monetary benefits for businesses using the RMB – a five per cent saving across a buyer’s total China spend could be quite significant,” says Simon Constantinides, HSBC’s Regional Head of Global Trade and Receivables Finance.
POLITICS, says Narongchai Akrasanee, is holding the Thailand economy back, but a more deep-seated, underlying problem is the nation’s education system. Narongchai, a former Thai Commerce Minister and well-known economist on the international stage, says that between 10 million and 15 million Thais are not fully employed because Thailand’s education system is not able to produce the workers required by industry. And stop-gap solutions, such as companies filling staff needs by establishing their own education centres, will not solve the long-term problems of the country. He also worries that political fighting will break out again . . .
DUE DILIGENCE and regulatory compliance work is being undertaken on the first batch of some 10 Chinese companies — ranging from high-tech to manufacturing and logistics — to list on Australia’s newest exchange, the Asia Pacific Exchange (APX).
Documentation for the first company to be listed is well advanced and expected to be completed within the next few months for listing before the end of the year. Australian’s Federal Government announced new Market Integrity Rules for the Exchange recently, paving the way for to become operational.
AN equitable investment environment, supported by rule of law, will be crucial to attract international investment to large infrastructure projects in Asia, says Julian Vella. Head of KPMG’s Asia Pacific Infrastructure practice.
“The big challenge is to create an environment where the private sector is comfortable,” says Vella, giving as examples same high-profile instances of investors being exposed to significant risks in China and Mongolia.
Mongolia is attractive to international mining companies because of its rich reserves of coal, copper and other resources. But the risks are high. It took Rio Tinto six years to conclude negotiations on a mining agreement.