ABOUT THE AUTHOR
Henry Hing Lee Chan:
By Henry Hing Lee Chan - 08 Dec 2016
The campaign rhetoric of Trump and the shift of Duterte to “pivot to China” seem to indicate a new sense of realism in their thinking. People now want good governance that can deliver a good and stable life for themselves rather than lofty ideas of taking care of thy neighbors.
By Henry Hing Lee Chan - 23 Nov 2016
The success of Duterte’s visits to Beijing and Tokyo has initiated new dynamics in ASEAN’s position on the South China Sea issue. The Philippines will assume the rotating chairmanship of ASEAN next year and its success in lowering tensions on the South China Sea issue will likely become the ASEAN stand.
The Chinese government has prohibited the practices of cash pooling, loan granting, and deposit taking, and has now limited the P2P platform operator’s role to just providing a matching place for lenders and borrowers, acting only as an information rather than a credit intermediary.
The most alarming sign of a Chinese property bubble is the accelerated price movement in recent months. A more than 30 percent year to year price rally across a number of big cities and the sharp increase in mortgage lending have heightened concern that the property bubble is being reinflated.
The Industrial and Commercial Bank of China is under police investigation over a fraud case reportedly involving RMB 3 billion worth of fake trade bills in the nation’s e-commercial draft system, highlighting the need to set up a more robust financial market framework.
The rise of corporate bond defaults and corporate downgrades has renewed calls for the establishment of a credit default swap market in China. The People’s Bank of China appears poised to give the hedging scheme the go-ahead in the near future.
Many people hold the view that economies of scale plus a booming economy are the two sole reasons behind China’ success in e-commerce. Physical infrastructure of telecommunications, information processing, and logistics are also factors.
The latest report from SWIFT shows that the share of the RMB in the global payment network dropped to 1.72 percent in June 2016, down 0.18 percent from the figure in May, and is the smallest share for the year to date.