11 h. ago As Trump urges cap on credit card rates, could China follow suit for online loans?

US President Donald Trump’s call for American credit card interest rates to be capped at 10 per cent for a year has sparked a debate in China about whether Beijing should impose a similar limit on online loans. The discussion comes as many in China – especially younger people – are being enticed by credit offers amid a weak job market and a boom in online loan services. “Apps now keep luring young people into borrowing,” a finance blogger with nearly 500,000 followers wrote in a social media...

Politics

9 d. ago Netflix launches in Hong Kong in 2016 – from the SCMP archive

This article was first published on January 8, 2016 By Nikki Sun and Ben Westcott Netflix enters HK pay TV market with bargain offers Internet streaming pioneer Netflix has rolled out its over-the-top (OTT) service in Hong Kong for as low as HK$63 a month hoping to making inroads into the city’s pay TV market. Hong Kong is among 130 new markets – which exclude the mainland - in which the company rolled out the service yesterday (January 7, 2016), taking the total to 190 countries. OTT...

Politics

1 week ago ADB: China's market offers ample opportunities for foreign companies

ADB: China's market offers ample opportunities for foreign companies  China Daily

Politics

2 w. ago US sanctions Chinese companies and tankers with Venezuela links

The Trump administration stepped up a pressure campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with related oil tankers it accused of evading restrictions. The US Treasury Department’s Office of Foreign Assets Control on Wednesday added four companies with links to Venezuela’s oil industry – Zhejiang-based Corniola and Hong Kong-based Aries Global Investment, Krape Myrtle Co and Winky International – to its specially designated...

Events

3 w. ago Launch window opens for China’s private space companies as LandSpace advances IPO

China’s private rocket makers are stepping up their dash for public funding, with Beijing-based LandSpace becoming the first commercial launch provider to clear a key regulatory “tutoring” milestone ahead of a planned listing on Shanghai’s Nasdaq-style Star Market. LandSpace completed its initial public offering (IPO) tutoring process on December 23, according to information published on the website of the China Securities Regulatory Commission (CSRC) – a step that typically precedes the...

Economics

3 w. ago Trump vs EU: the European laws curbing big tech and irking US president

The European Union is back in the crosshairs of the Trump administration over its tech rules, which Washington denounced as an attempt to “coerce” American social media platforms into censoring viewpoints they oppose. The US State Department said on Tuesday it would deny visas to a former EU commissioner and four others, saying they “have advanced censorship crackdowns by foreign states – in each case targeting American speakers and American companies”. Trump has vowed to punish countries that...

Politics

3 w. ago US bars approvals of new models of China’s DJI, all other foreign drones

The Federal Communications Commission said on Monday it is adding China’s DJI, Autel and all foreign-made drones and components to a list of companies determined to pose unacceptable risks to US national security and will bar approvals of new types of drones for import or sale in the United States. The addition to the FCC’s “Covered List” means that going forward, DJI, Autel and other foreign drone companies will not be able to obtain FCC approval to sell new models of drones or critical...

Events

last month China confirms issuing of first general licences for rare earth exports

Beijing confirmed on Thursday that it has begun granting general licences with lengthier terms for exports of rare earth elements to foreign companies, though business groups said more guidance was needed on the policy’s implementation. “With the accumulation of relevant export compliance experience, some exporters have initially met the basic requirements to apply for general licences,” said He Yadong, a spokesman for the Ministry of Commerce (Mofcom), at a press conference. “To my knowledge,...

Politics

last month Holiday rush: Hong Kong IPO market sparkles with busiest December in years

Hong Kong’s initial public offering (IPO) market is heading for its busiest month in four years, as a late rush of listings gathers pace despite the traditional slowdown around the Christmas and New Year holidays. At least 15 companies were set to go public by the end of December, with drug-discovery firm Insilico Medicine planning one of the largest deals in the final stretch of the year, according to data compiled by the Post. A total of 12 companies had already made their market debuts...

Economics