5 pillars of financial stability

China's GDP is expected to increase over 8 percent this year, with monetary policy remaining accurate and stable amid domestic economic recovery and a commodity-driven global inflation risk, said experts at Tsinghua PBCSF Chief Economists Forum on Saturday. Guo Lei, chief economist of GF Securities, showed positive expectation of China's GDP growth, which is estimated to increase 9 to 9.5 percent year-on-year, and 11 to 12 percent in nominal terms. Chief macro analyst Liang Zhonghua from Haitong Securities expressed more prudent views, projecting real GDP growth to be between 8 and 9 percent in 2021. More attention should be given to the economic development trend on a monthly basis, Liang said. As government tightens controls on real estate and export slightly drops, China's macro-economy will shoulder certain downward pressure. Wang Tao, chief economist and head of Asia Economics at UBS, said China's GDP growth is estimated to hit 9 percent from a year earlier, mainly driven … [Read more...] about Central bank looking at prudent steps to stabilize economy, experts predict

BEIJING: In a move that sent shockwaves across the country, Chinese stock bourses on Tuesday night announced to suspend a planned dual listing by fintech giant Ant Group, which had been widely expected to become the world’s biggest initial public offering (IPO) ever, as part of what experts call a broad push to tighten regulations in the financial sector, particularly online lending, and protect investors’ interests. The swift change also put the spotlight on a debate between regulators and the public over a balance between financial innovation and risk control. Just 36 hours ahead of a scheduled debut in Hong Kong on Thursday, the Shanghai Stock Exchange (SSE) surprised the market with an announcement that it would suspend Ant Group’s listing in the STAR Market. Roughly an hour later, the fintech giant’s Hong Kong IPO was also announced to be shelved. While many were still digesting the news and speculating about the reason behind it, a commentary by the official Economic Daily … [Read more...] about Ant Group cancels IPO; public wary

As China is testing the water before launching central bank digital currency, the country's southern tech hub Shenzhen has taken a further step by conducting another trial run and enlarging its test population by 500,000. The trial, from April 10 to April 23, aims to cultivate user habits as China is set to use the technology to benefit more people in the long term. China began piloting its digital currency in select regions across the country at the end of 2019. The digital yuan will be positioned as legal tender, designed to be treated as M0, meaning cash in circulation such as coins and banknotes. It will be issued by the People's Bank of China (PBOC), the country's central bank, to designated commercial banks which will then distribute the currency to the public. The rapid development of mobile payment requires the government to provide stable and secure retail payment infrastructure. The trials reflect the central bank's prudence in advancing the digital currency to ensure … [Read more...] about Digital yuan trial heralds inclusive tech future

WASHINGTON: The U.S. government under President Joe Biden is working closely with the international community to tackle climate change, increase the scale of climate finance and leverage additional private investment, Treasury Secretary Janet Yellen said on Tuesday. Yellen told her first meeting with the Coalition of Finance Ministers for Climate Action, a two-year-old group that Washington joined last week, that the U.S. Treasury would play a critical role in a government-wide push to reach an ambitious 2030 emissions target under the 2015 Paris climate agreement. Biden is due to announce the target at a leaders' summit on climate change later this month, a sharp reversal from the actions of his predecessor, Donald Trump, who withdrew the United States from the climate accord. "Climate, by its very nature, requires strong global cooperation," Yellen told the group. "We lost four important years, and we recognize that many of you around the room have been leading change in your … [Read more...] about Malaysia joins international climate finance ministers group

Having always been a popular country for expats, the Netherlands is recognized for its broad-minded society and high standard of living. The Netherlands capital, Amsterdam, is a charismatic canal city that appeals to numerous international expats and workers considering the city’s growing finance and tech industries. Other cities are home to significant expat communities as well, including Rotterdam and The Hague. Moving to a new country can be a daunting task despite your level of preparedness. Systematic management in the realm of international relocation can be made simpler with the right checklist. If you’re planning on moving to the Netherlands, there is a wide range of requirements to go over. From visa requirements to the Dutch lifestyle- we have it covered with our checklist. Before you hope on to the list, consider hiring a reliable company for removals to the Netherlands for your belongings to be transported. Henneken is a prominent name in the industry that can make … [Read more...] about Moving to the Netherlands- A Definitive Check-List