Two islands in Viet Nam among The Telegraph's list of most pristine beaches
 
Oct 19, 2018
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Two small islands in Viet Nam have been named among a list of 10 beaches in Southeast Asia unspoilt by tourism suggested by a travel piece in the UK newspaper The Telegraph.

They are An Thoi islet off Phu Quoc Island in southern Kien Giang province, and Binh Lap island in the central province of Khanh Hoa.

Remarking on the “construction site soundtrack” that accompanies beaches on Phu Quoc, the article advises travellers to take a boat from the island’s port to An Thoi, which has “secluded coves and colourful reefs almost completely devoid of humans.”

Fifth on the list is Binh Lap Island in Cam Ranh Bay, which it describes as secluded and “more Seychelles than Southeast Asia.”

Two beaches each in Thailand and Malaysia, one each in Hong Kong, Cambodia and the Philippines are also in the list.

Interestingly, it includes an island in landlocked Laos, “which only materialises in the November to April dry season as the Mekong River recedes.”

To prevent these and other unspoilt beaches from being ruined by tourism, The Telegraph article advises visitors to “be responsible by removing all of your own rubbish, don’t abscond with seashells or sands and use an ocean-safe sunscreen.”

Source: VNA

 
 
Singapore Cracks Down On "Shoe Box"-Sized Apartments
 
Investvine, A Company of Inside Investor, Ltd.
Oct 18, 2018
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Singapore’s Urban Redevelopment Authority (URA) on October 18 announced an upcoming regulatory change for the city state’s property developers, mandating that the average size of new private flats outside the central area will have to be at least 85 square meters in average of gross floor area, up from previously 70 square meters, a far cry from some shoe box-sized apartments having been built and sold in the past.

The new guidelines, which will come into effect by January 17, 2019, are therefore cutting the number of possible units allowed in a project – something that developers say might increase prices of condos and make it difficult for low-income earners, retirees or singles to afford one. However, the URA argued that the move was made to manage potential strains on local infrastructure and ensure the livability of residential estates.

The authority further announced that nine areas in Singapore – up from presently four – will be subject to an even more stringent minimum average requirement of 100 square meters, namely Marine Parade, Joo Chiat-Mountbatten, Balestier, Telok Kurau-Jalan Eunos, Stevens-Chancery, Pasir Panjang, Kovan-How Sun, Shelford and Loyang.

Real estate agents said that the new limits will reduce the number of units in a development by up to 30 per cent, curbing developers’ ability to prop up profit margins by launching smaller units as the number of shoe box units entering the market will naturally come down in the longer term.

As a result, major property stocks, including City Developments, CapitaLand and Ho Bee Land, fell sharply on the news. Analysts said that developer stocks are likely to remain under pressure and could even “test new trough levels” which could mean a near-term downside of up to ten per cent.

They also estimate there could also be a 20 to 40 per cent drop in land prices with the revised unit size rules, as home buyers are likely to hold back purchases to 2019 to wait and see what impact the regulation will have an condo bidding prices.

 
 
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China ranks third in global online payments, U.S. tops the list
 
China Knowledge Online
Oct 18, 2018
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Oct 18, 2018 (China Knowledge) - Data released by the World Payments Report 2018 showed that in terms of the total number of online payments in the statistical period, the U.S. topped the list with 148.5 billion, with Eurozone coming in second with 74.5 billion and China third with 48 billion online payments.

The report also showed that China's non-cash transactions accounted for the world's second-largest share of the growth. In addition, the report predicts that China's digital payment power, led by Alipay and WeChat, cannot be ignored. By 2021, China's total online payments will surpass the U.S. as the world's largest.

The study is based on data from the world bank, the bank for international settlements and the European central bank's statistical database. Non-cash transactions include checks, debit cards, credit card payments, credit transfers and direct debit transactions. The compound annual growth rate (CAGR) for all digital transactions will be about 13% between 2018 and 2021, rising to USD 876 billion from USD 598 billion in 2018.

China completed 48 billion non-cash transactions in 2016, up 25.8% YoY. China's rate of growth was second only to that of Russia, whose share of non-cash payments rose 36.5% YoY to 17.3 billion. Australia was third with 11.1% growth, at 10.6 billion.

 
 
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Hong Kong plans to build new homes on artificial islands
 
China Knowledge Online
Oct 11, 2018
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Oct 10, 2018 (China Knowledge) - Hong Kong will add artificial islands in a bid to rein in its property market which has seen spectacular gains making the city’s housing the least affordable in the world.

The Hong Kong government will be reclaiming 688 hectares of land off Lantau Island according to a policy address by Chief Executive Carrie Lam. The land will provide between 260,000 to 400,000 homes and can house up 1.1 million people or 15% of Hong Kong’s population. 70% of the new homes will be allocated for subsidized public housing.

The first phase for reclamation works is set to begin in 2025 with people being able to start moving in by 2032.

Apart from this reclamation project, the government also looks to convert deserted rural land in the New Territories to residential use and set up a land sharing pilot programme that turns land held by developers into projects that accommodate both public and private housing.

Under the land reclamation plan, about 34,000 new jobs will also be created in the next two to three decades.

The recent policy address is the second by Hong Kong’s Chief Executive Carrie Lam since she was sworn in. Mrs Lam has placed increased focus on Hong Kong’s housing and land supply issues, indicated that the shortage of land and housing supply has placed a strain on people’s quality of life.

 
 
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Powerful Counter-Trafficking Campaign from Asia Gets a Global Stage
 
Oct 02, 2018
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Eye-catching videos and resources reach audiences around the world

“Now I know things about safety and rights. I’ve also learned how important it is to keep documents safe, not to be confiscated by the employer.”

September 2018 — “Што такое гандаль людзьмі?” (“What is human trafficking?”) says the narrator as an animated video on human trafficking plays to a crowded room of students in Minsk, Belarus. This same video plays in Egypt, Myanmar and Thailand, however, the narrator isn’t speaking Belarusian. She’s speaking Arabic, Myanmar and Thai.

Originally developed to prevent human trafficking and exploitation in 10 member states of the Association of Southeast Asian Nations, USAID’s IOM X (link is external) campaign materials are now being used in over 40 countries across the world. Some 140 videos and an equal number of other resources — such as training materials, online courses, and factsheets — are available in 18 languages.

“IOM X creates content that our audience is receptive to. Having new, high-quality and engaging content on hand makes our demanding jobs so much easier, especially since we are a non-profit looking to maximize resources,” said New Su Shern, founder and president of the Malaysia-based NGO Project Liber8.

The campaign produces tailored content, such as videos and factsheets, on sector-specific issues related to the prevention of human trafficking, ranging from domestic work to manufacturing. For example, the definitions video series provides one-minute overviews of different forms of exploitation, including forced begging, organ trafficking and debt bondage. These videos are easy for other organizations to adapt to local audiences through subtitling or dubbing. They are also highly digestible, shareable and easy for all types of audiences to understand.

Much of the content is aimed at influencing young people from ages 15 to 35 to make migration decisions that protect them from exploitation.

“Now I know things about safety and rights. I’ve also learned how important it is to keep documents safe, not to be confiscated by the employer,” said a Burmese migrant worker in Yangon after watching the Make Migration Work video series.

Audiences across the region are not only fans of the content, but they are also fans of the innovative approach used to create content. A robust library of research and training materials is publicly accessible, and reversioning — translation to another language — is encouraged. For example, the Communication for Development (C4D) toolkit is now available in eight languages, including Mandarin, Bangla and Khmer.

The project’s technical team has held workshops in eight countries, training more than 500 partners on human trafficking and C4D. Campaign materials have reached a potential 505 million people globally since the campaign began in late 2014.

SOURCE / USAID

 
 
Pet owners on the rise in China to 73 mln, spending up 27% to reach USD 24 bln
 
China Knowledge Online
Sep 11, 2018
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Sep 11, 2018 (China Knowledge) - In recent years there has been a surge in pet ownership in China. Currently, there are an estimated 73.55 million pet owners, and spent RMB 5,016 annually on each pet on average, up by 15% from last year. Spending on pets is expected to rise by 27% this year to RMB 170.8 bln.

To cope with the rising demand, China has seen an increase in variety of pet food available. Pet owners in China are increasingly well-informed of their pet’s health and even look for prescription foods. Other expenses include grooming, vaccination and medical treatment.

The growing popularity of pets is turning China into a magnet for local and global pet companies due to huge growth potential. For example, Beijing has seen a surge in the number of pet-related stores such as pet-themed restaurants, cafes and retail stores which target the middle-income pet owners.

From August 22 to 26, Shanghai hosted the Pet Fair Asia which sets the benchmarks and trendsetters on pet supplies in Asia-Pacific for more than 1,300 exhibitors.

This has also hit the e-commerce market, with Taobao and JD.com both setting up pet categories on their websites. Alibaba’s e-commerce website Taobao alone recorded USD 1 bln of sales for cats’ food and cat-related items in 2017.

 
 
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7 Key Disruptions that Will Change the Way You Work
 
Sep 09, 2018
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"It's been estimated that 57% of all jobs are at risk of being automated within the next 5 years" Here are 7 key disruptions that most likely will change the way people work in the future.

Technological and social forces are transforming how work gets done, who does it, and even what work looks like. And while technology can make workers more productive, there will be significant turbulence as organizations grapple with the complexity and unpredictability of a changing workforce.

Research by Deloitte Consulting shows that there are seven powerful disruptors reshaping work as we know it. In order to address these disruptors, business leaders need to engage in transformative thinking that will not only re-design but re-imagine the way work gets done in their organizations. They need to think big, start small, become more agile, and—ultimately—move faster than the new realities of work.

Are organizations ready for Industry 4.0?

Deloitte’s Readiness Report explores senior executives’ views on the impact of Industry 4.0, that is, the industrial change associated with automation and digital technologies. According to the report, business leaders are uncertain they have the right talent to be successful in this new era of technological advancement. Only 25% are highly confident that their workforce has the skill sets needed for the future. Only 14% are highly confident in their ability to harness the changes associated with Industry 4.0. Yet 86% of business leaders think they are doing all they can to build the right workforce. Even more surprising, less than 20% of business leaders regard talent and HR issues as a high priority. In a nutshell, leaders don’t seem to think radical change is needed to get them where they need to go.

But radical change is needed. Consider the impact of automation. It’s been estimated that 57% of all jobs are at risk of being automated within the next 5 years. Emerging economies in the ASEAN region (the Association of Southeast Asian Nations) are the most vulnerable to job automation. But developed economies will be impacted as well. In Singapore, for example, workplace automation is expected to double in the next three years.

To be sure, the likelihood of an entire profession disappearing due to automation is low. It is far more likely that parts of an occupation will be replaced by technology. Human talent will be working alongside artificial intelligence, machine learning, natural language processing—or anything that can replace tasks in a business process and make them quicker, more accurate, and less costly. In this scenario, the most suitable resource, be it technological or human, can now be matched to deliver the most productive outcome.

Naturally, this has implications for the workforce and completely disrupts traditional talent models. Organizations will have to find the right balance of humans and machines to complement each other, re-designing roles to maximize talent and potential.

Augmentation also challenges current talent structures and practices by making them more flexible. Workforces will become more and more contingent, with off-balance sheet workers (freelancers, contractors, and gig workers) increasingly utilized by businesses who want to capitalize on access to the smartest people to solve complex business problems. In fact, in the United States, more than 90% of net new jobs in the past five years were performed by off-balance sheet workers. Respondents to Deloitte’s Global Human Capital Trends 2018 report indicate that only 42% of their workforce is made up of salaried employees.

From the workers’ perspective, such augmentation through technology means people can now decide where best to work, whether it’s from an office or at home, in a satellite space, or in shared workspace. This fits the Millennial and Gen Z value of flexibility in the workplace—a key finding from the Deloitte Millennial Survey 2018. For these workers, the gig economy’s increased income potential and flexibility hold great appeal. According to the survey, a clear majority have already taken on such roles or would consider doing so.

This is of particular importance in Asia, where almost 60% of the working population is 28 years old, compared to 40% globally. With the vastly different career expectations of this age group, organizations need to adjust talent models to attract and retain the workers that will take their business into the future.

Remaining relevant in the future of work

The half-life of a skill has dropped from 30 years to an average of 6 years. This holds true even for fresh university graduates. This means that the model of “learn at school” and “do at work” is no longer sustainable and constant reskilling and lifelong learning will be a way of life at work. According to the World Economic Forum’s Future of Jobs report, reskilling is the top priority for organizations looking at their future workforce strategy. And with working lives getting longer, reskilling is important for all workers, not just the young.

Individuals, companies, and educational institutions must find collective and elegant solutions that work for everyone and must push for smart ways to promote fairness and progressive thinking at work. Governments and policy makers can play a role in this new paradigm by showing bolder leadership in education and labor market regulations and by developing standards that enable and accelerate future of work opportunities. A collective response will create the platforms that enable and empower individuals to reinvent themselves to embark on new pathways and progress their careers.

Business leaders can no longer be passive consumers of ready-made human capital. They need to put talent development and workforce strategy front and center in their growth plans. This requires a new mindset to understand the challenges workers face and evolve talent programmes and models that unlock their potential.

By Philip Yuen
Edited by Shawn Chou

 
 
Sinking Bangkok Among Cities To Be Hardest Hit By Climate Change
 
Investvine, A Company of Inside Investor, Ltd.
Sep 09, 2018
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As Bangkok prepares to host climate change talks, the Global Warming and Climate Change Conference from October 4-5, experts once again remind that unchecked urbanisation and eroding shorelines will leave the city itself and its residents in a critical situation in the not so distant future.

The sprawling metropolis of more than ten million people is itself under siege from the environment, with dire forecasts warning it could be partially submerged in just over a decade.

Bangkok, built on once-marshy land about 1.5 meters above sea level, is projected to be one of the world’s hardest hit urban areas, alongside fellow Southeast Asian behemoths Jakarta and Manila.

“Nearly 40 per cent” of Bangkok will be inundated by as early as 2030 due to extreme rainfall and changes in weather patterns, according to a World Bank report.

Currently, the capital “is sinking one to two centimeters a year and there is a risk of massive flooding in the near future,” said Tara Buakamsri, Thailand Country Director for Greenpeace Southeast Asia.

In turn, the sea levels in the nearby Gulf of Thailand are rising by four millimeters a year, above the global average.

The city “is already largely under sea level”, said Buakamsri.

In 2011, when the monsoon season brought the worst floods in decades, a fifth of the city was under water. The business district was spared thanks to hastily constructed dykes. But the rest of Thailand was not so fortunate and the death toll passed 500 by the end of the season.

Experts say unchecked urbanisation and eroding shorelines will leave Bangkok and its residents in a critical situation. With the weight of skyscrapers contributing to the city’s gradual descent into water, Bangkok has become a victim of its own frenetic development.

Making things worse, the canals which used to traverse the city have now been replaced by intricate road networks, said Suppakorn Chinvanno, a climate expert at Chulalongkorn University in Bangkok.

“They had contributed to a natural drainage system,” he said, adding that the water pathways earned the city the nickname ‘Venice of the East’.

Today, the government is scrambling to mitigate the effects of climate change, constructing a municipal canal network of up to 2,600 kilometers with pumping stations and eight underground tunnels to evacuate water in case disaster strikes.

 
 
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Setting Ambitious Standards for Corporate Social Responsibility
 
Sep 04, 2018
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Compared with previous years, Taiwanese enterprises made greater progress on the CSR front this time. In 2017 alone, companies poured NT$8.2 billion into charitable donations. The companies that made it into the top 100 corporate citizens employ a total of 460,000 people, accounting for only four percent of Taiwan’s employed workforce. However, these companies generate annual revenue in excess of NT$14 trillion, or 80 percent of the island’s GDP.

Under cloudy skies, the winners of the CommonWealth Magazine Corporate Citizen Awards, now in their 12th year, were announced the afternoon of August 29. With vast parts of southern Taiwan deluged after weeks of torrential rains, Environment Minister Lee Ying-yuan noted as he addressed the awards ceremony that the flooding is clear evidence of ongoing climate change and bemoaned the fact that the fight against global warming has suffered a setback in the wake of U.S. President Donald Trump’s withdrawal from the Paris climate agreement.

“The law provides the lowest ethical standards; requirements for corporate citizens must be higher. Enterprises must not only look after themselves but also take care of others,” stated Lee, appealing to companies to take responsibility for their actions.

Delta Electronics Inc. Wins Large Enterprise Crown for Third Year in a Row

Amid the award-winners at the three-hour-long event were many “familiar faces”, enterprises that, inspired by the CommonWealth Magazine Corporate Citizen Awards, have built their corporate social responsibility (CSR) portfolios over the years. Delta Electronics Inc. won the top spot in the large-scale enterprise category for the third year in a row, whereas BASF Taiwan, the local subsidiary of the German chemical giant, managed to make it into the top five foreign enterprises for the fourth successive year. Leading organic haircare maker Hair O’right International Corp. again clinched the crown in the “little giants” category. (Read: Delta Electronics Inc.: 'The Time is Always Right to Do the Right Thing')

As many awardees took the stage, they thanked CommonWealth Magazine for hosting the Corporate Citizen Awards for the past twelve years, and pointed out that this opportunity to compare notes and be evaluated regarding CSR approaches helped them figure out what worked, what didn’t, and how to adjust the direction of their efforts.

Jimmy Hsiung, supervisor of the CommonWealth Magazine Survey Center, noted that this year’s jury members concurred that, compared with previous years, Taiwanese enterprises made greater progress on the CSR front this time. In 2017 alone, companies poured NT$8.2 billion into charitable donations. The companies that made it into the top 100 corporate citizens employ a total of 460,000 people, accounting for only four percent of Taiwan’s employed workforce. However, these companies generate annual revenue in excess of NT$14 trillion, or 80 percent of the island’s GDP.

“They represent only a small group of people, but the change they bring about for Taiwan is enormous,” remarked Hsiung, pointing out that setting ambitious CSR standards through long-term commitment and by embedding CSR in corporate culture and each employee’s DNA, forms a vital element of corporate competitiveness.

As a longtime champion of the environment and energy conservation, Delta Electronics late last year became the first company in Taiwan or China to have its science-based targets for reducing greenhouse gases validated and approved by the Science Based Targets Initiative. Guo Shan-shan, the company’s chief brand officer and executive director of Delta Electronics Foundation, noted that Delta Electronics began to collaborate with the Central Weather Bureau this year, providing architects with the micro climate data of nearly 30 areas across Taiwan as reference so that people would be able to live in comfortable housing that is adapted to the local climate conditions.

The world’s largest chip foundry, the Taiwan Semiconductor Manufacturing Company (TSMC), won second place this year in the large enterprise category, with Chairman Mark Liu accepting the award in the wake of the retirement of longtime Chairman Morris Chang. Liu said that it is TSMC’s vision to become a force that can lead Taiwan’s society to a higher plane. Through volunteer activities, TSMC fosters its employees’ volunteering spirit, encouraging them to not only do good deeds but also contribute to Taiwan’s economic development with integrity.

Jonney Shih, chairman of Asustek Computer Inc. (Asus), stated that Asus successfully used 100 percent recycled parts and components for its recycled computers last year. This March, Asus won Circularity Facts Program Validation status, which means that the company implements the “cradle to cradle” concept for a sustainable economy.

Developing ambitious CSR goals is not just a privilege of companies in the large enterprise category. Transnational consumer goods company Unilever launched a sustainable live agenda in 2010, promoting sustainable lifestyle brands such as Dove, Lipton and Knorr. For the Lipton green tea series, the company cooperates with Taiwanese tea plantations, becoming the first tea bag brand in Taiwan with Rainforest Alliance certification.

Small giant O’right has shown through its plastic and emission reduction measures and development of sustainable green products that a Taiwanese company can be a global leader in CSR. Ko Li-li, O’right’s deputy general manager, noted that the haircare maker promotes a circular economy through innovations such as using coffee husks from Gukeng in Yunlin County and golden goji berry root from Kuanyin in Taoyuan City in its products.

Companies can more fully fulfill their corporate responsibility by enabling every employee to join in CSR efforts. This year’s award-winners attach growing importance to the joint involvement of their employees. Cathay Financial Holding Co. Ltd. Vice Chairman Chen Tsu-pei remarked that within the company’s core business, banking is linked to the Equator Principles, insurance to sustainable insurance, and asset management to responsible investment, so that CSR becomes part of each employee’s tasks and the long-term business strategy.

One new insight from this year’s Corporate Citizen Awards is that companies in Taiwan are more ambitious in the four areas that were evaluated for the ranking – corporate governance, corporate commitments, social engagement and environmental sustainability – than laws and regulations require. This is particularly obvious with regard to social benefits.

“Since everyone is making an effort, we are witnessing forces that contribute to the progress of Taiwanese society,” observed Labor Minister Hsu Ming-chun, who sat on the jury panel and attended the awards ceremony. Hsu said that, as Taiwan’s top labor policymaker, she is very happy to see that many enterprises are ready to share their profits with their employees through various benefits such as salary raises and creative schemes such as “emotional leave” or allowing employees to take a day off when their children start school. This shows that corporate Taiwan and the government are making a concerted effort to improve the welfare of workers.

“It’s great that Taiwan has you!” declared CommonWealth Magazine President Yin-Chuen Wu at the ceremony. More and more companies are deepening their CSR agenda, internalizing social responsibility in day-to-day business, and implementing CSR while making money is crucial for taking Taiwan to a higher plane.

About the CommonWealth CSR Corporate Citizen Awards Survey

By Elpis Su

The 2018 CommonWealth Magazine Corporate Citizen Awards Survey picked Taiwan’s best corporate citizen using international benchmarks and evaluation methods in the four areas of corporate governance, corporate commitments,social engagement, and environmental sustainability.

The evaluation process, which covers CommonWealth Magazine’s Top 2,000 Enterprises and domestic and foreign-invested companies recommended by experts, is split into four stages. In the first round, companies that have turned a profit for three years in a row are invited to participate in the survey. In round two, an initial evaluation takes place based on the data provided by the responding companies. In the decisive third round, experts from various fields form jury panels that rank the companies in the various categories according to their performance in the four evaluation areas. In round four, Jury head Lin Hsin-yi convenes a grand jury panel that selects the Top 100 Corporate Citizens based on enterprises’ total scores.

This year, companies were grouped into four categories based on annual revenue. Companies with annual revenue above NT$10 billion were categorized as large enterprises, those with annual revenue below NT$10 billion and considerable CSR experience were put in the medium-sized enterprise category, while companies with less than NT$5 billion in annual revenue were designated as “small giants”. Foreign enterprises made up the fourth category.

Survey period: May 3, 2018 to August 9, 2018
Survey execution: Jimmy Hsiung, Elpis Su

Translated by Susanne Ganz
Edited by Sharon Tseng

 
 
Foreign residents allow to invest in China’s USD 7 trillion stock market
 
China Knowledge Online
Aug 18, 2018
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Aug 16, 2018 (China Knowledge) - Foreigners working in China can now invest in China’s A-shares was announced by the China Securities Regulatory Commission (CSRC) after the market closed yesterday. The breaking news is expected to open the floodgate of some 900,000 foreign residents who are working in the Mainland China to access the country’s USD 7 trillion stock market in Shanghai and Shenzhen.

For three decades since the Shanghai bourse launched in 1990 stock trading to foreigners were closed, and only granted to large funds from 2003 through the Qualified Foreign Institutional Investor (QFII) scheme, which to date, totaled over USD 100 billion from 287 foreign firms. Then came the Stock Connect and Bond Connect in 2016 where foreign institutions could trade domestic stocks and bonds through Hong Kong.

Candidly speaking, allowing approved foreign residents to invest directly would spice up their dining and drinking experience with new topics and sharing circling listed companies’ performance and investment opportunities. Before it was like watching the World Cup but no channel to execute ideas or opinions on the games. At only a quarter of U.S.’s GDP per capita Chinese economy will see ample room for growth for its listed companies, and these should lure more foreign participation.

Other positive news from the financial industry, mainly benefitting the foreign institutions, include the introduction RMB denominated crude oil and rubber futures, easing of trading quota, granting of more fund businesses’ license, allowing foreign M&A on local listed companies, and with many new laws amended this could further facilitate the access to China’s USD 49 trillion markets.

There are also other opportunities but little known to foreigners here include the access to the country’s trust products, mutual funds and other licensed bank’s wealth products. Just the size of high-yield collateralized loans in the trust industry exceeds the total of all the world’s hedge funds combined, at over USD 4 trillion. The high annual returns of these trust products of between 5% and 14% could by itself attract a plethora of salivating investors from across the globe. China’s USD 1.6 trillion mutual funds is another option made available through most local banks.

If U.S. is the standard gauge to apply the foreign ownership of American equities and bonds of one-third that proportion could translate into several trillions of dollars investments from overseas entering China. Recent months of strong buying from foreign institutional funds in the domestic stocks and bonds have seen billions of dollars a day of investments, and to quote from the China HK bond connect program’s official, daily buying of bonds will increase 4 folds by 2020 from current USD 1 billion a day.

The stock market access is a major move to open up China entirely, and it is foreseeable the Chinese currency will be completely free float and become a major global currency within a decade, or even faster.

 
 
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