Author: Kandy Wong
Climate change poses significant risks to both advanced economies and emerging markets. While advanced economies face physical risks like damage and value destruction, emerging markets are more vulnerable due to their less diversified economies. With natural disasters causing around $290 billion in damages globally, emerging markets suffer from a higher insurance gap, relying more on government support. International institutions play a key role in addressing this gap by promoting green finance, supervision, and regulation. In Europe, leadership in supervision and regulation is evident, especially in climate stress testing. Collaboration between the EU and China in dealing with climate change is…
The People’s Bank of China recently held a meeting in Shandong province to discuss accelerating the refinancing of low-income housing. This move aligns with the national policy of consuming housing inventory and optimizing the efficiency of the property sector. Various cities shared experiences in pilot programs, focusing on renewing old communities and enhancing the land-use planning process. Despite challenges in the market, China’s economy grew by 5.3% in the first quarter. The real estate sector plays a significant role in China’s economy, accounting for 25-30% of the GDP. However, recent defaults by property developers have impacted broader economic activity. To…
Sinovac, a Chinese biopharmaceutical company, has responded to reports of a secret anti-vax programme by the US military during the Covid-19 crisis. Sinovac criticized the Pentagon’s campaign as a “wrong attack” that will have disastrous consequences. The Reuters investigation revealed that fake Twitter accounts were used to discredit Chinese products and the Sinovac vaccine, using the hashtag #Chinaangvirus. Sinovac’s spokeswoman emphasized the importance of vaccination in preventing disease outbreaks and promoting public health. The Pentagon’s campaign against the Chinese vaccine reportedly spread misinformation in various regions, including Southeast Asia. Despite this, countries like the Philippines continued to receive donations of…
China is known for its strict standards when it comes to fresh produce, causing delays in agricultural export negotiations. Avocados Australia believes that avocados could be the next product to enter the Chinese market, following apples and blueberries. John Tyas emphasized the need to show the Australian government the value of investing in avocados, citing the industry’s significant growth and employment opportunities. After China lifted import tariffs on Australian wine and relaxed restrictions on lobster imports, there are positive signs for further trade collaborations. Avocados Australia has been working on a memorandum of understanding with Chinese authorities to facilitate market…
As the European Union finalizes its investigation into China’s electric vehicle (EV) sector, firms could counter the impact by establishing production facilities in countries like Turkey, Serbia, and Hungary. Analysts caution that the EU may respond with stricter measures in reaction to Chinese EV makers attempting to bypass high import tariffs. Chinese EV manufacturers are advised to follow the Japanese model of setting up manufacturing plants in the US in response to potential EU tariffs. Amid speculation about the EU’s investigation outcomes and possible tariffs, BYD, China’s leading EV maker, has planned to build its first passenger car facility in…
Scams in Hong Kong are a prevalent issue, with someone falling victim every 13 minutes, losing significant amounts of money due to evolving criminal tactics. Recently, a Citibank credit card user experienced a deduction of HK$11,984.90 after unknowingly authorizing a purchase through a fake text message. Scammers can manipulate prices, leading to higher charges than expected with no prior alerts. Addressing such scams can be challenging, as the dispute process is lengthy and complex, often resulting in charges not being waived. Legislative Council member Johnny Ng Kit-chong advocates for a collaborative platform among financial, IT, and telecom sectors to support…
Russian President Vladimir Putin is set to discuss the stalled Power of Siberia 2 natural gas pipeline project with Chinese President Xi Jinping during his visit to China this month. The pipeline, meant to connect Russia and China, symbolizes a strategic partnership that could redirect natural gas supply from Europe to north China. Progress on the project is closely watched, given its implications for bilateral relations and potential sanctions from the EU and US. Concerns linger over the project’s uncertain future, with speculations about disagreements over price or China’s need for it. The project holds significant importance for Putin, but…