Economy

KPMG has just released a report on the Global Fintech trends and highlights leading the most innovative companies. China has now 4 out of the top 5 companies and 8 out of the top 50 list.
Chinese political Bureau of the Central Committee has confirmed that central of monetary policy will shift from a stable growth to depress bubbles. Increase in real estate prices is threatening financial market. Recent policy will focus on depress real estate and lower the financial leverage.
Shanghai Stock Exchange on 28th Oct published policy on strengthening the credit contro over supply-excessive industry, including real estate, iron and coal industries. This action will restrict debt release of companies in those industries and underwritters have to examine clearly before they help issue debt of companies.
Because of RMB depreciation, cash is flowing into HongKong real estate industry. A new property for upper class buyers sold 40% of its houses to mainland investors. Most of them are willing to rent and wait for increase in price.
Li Ka-shing sold most of this asset in 2015 and then transferred his investments in Europe, especially in Britain. He focus on infrastructure construction. Although losing around 100 billion HK Dollars, he continuously invest and he is going to acquire 51% of Britain National Grid.
Banks held asset management services since 2004, and till now the balance has reached 26.28 billion. It has become an amount which cannot be ignored. Debt market will be affected by this action. Most of the off-balance-sheet items is non-guaranted asset management projects, which increased the leverage amount banks can provide.
China Banking Regulatory Commission recently release its control over loal asset management companies, allowing for debt restructuring and other methods to dispose non-performing assets. This is a new opportunity investing nothing but trillions of returns for AMCs.
Celebrations of the 10th Anniversary of the Michelangelo’s David (replica) in Ningbo, prepared by Foreign Affairs Office of Ningbo Municipal Government, was held on 21, October 2016. The Deputy Mayor of Florence, Giovanni Bettarini, the deputy Mayor of Ningbo, Mr. Zhang Minhua, honorary citizen of Ningbo, Mr. Mario Razzanelli and Mr. Yu Danhua participated in the activity. The bronze statue of David is located in front of the Ningbo Grand Theater. It stands for the friendship between Ningbo and Florence and it has witnessed the economic trade and cultural exchanges between two cities in the past 10 years. Thanks for the great job carried out by Mr. Mario Razzanelli and Mr. Yu Danhua, David's statue can still be admired in Ningbo. Mario and Danhua have shown to all of us that when two parties sit down with a common objective, anything can be achieved. The government of Florence city, represented by Giovanni Bettarini, can be proud of this cooperation that will open new opportunities for deeper cooperation Geraci also attended as special representative of the Italian consulate in Shanghai. He mentioned that even when dealing with economic and financial issues, knowledge of each other culture is the key to the success of the business relationship. Knowing your partner’s culture will help you offer them the products that they want, that they appreciate. Florence is the world capital of fashion and Italian fashion hits well with Chinese consumers because Italian fashion design combines tradition with innovation, music to the ears of Chinese middle and upper class. "David is a bridge between Italy and China, a bridge that will stay here for the centuries to come", concluded Mario

HOT TOPICS