China keen to beef up laws against bond, securities fraud

China keen to beef up laws against bond, securities fraud
Deputy director of the NPC’s Finance Committee says that company and criminal laws should be revised urgently to support the new securities law, with jail terms of up to 25 years for offenders
Singapore GDP could fall 7% this year
Finance minister to announce second stimulus package as city-state faces its worst contraction since independence in 1965
Confusion as Indian domestic flights restart
The resumption of flights caught many off guard, including airlines, and many flights were cancelled
Tuniu faces Nasdaq delisting
Online travel agent sees market cap slide 97% as share price hovers below $1 threshold for more than a month 
China bonds flat as risk returns
Index family looking for direction amid upbeat virus sentiment that’s boosting stocks

Hong Kong

Hong Kong leader tries to reassure investors rattled by China law
Carrie Lam claims new national security law will only target 'a handful of law-breakers' and says fears about loss of city's freedoms are 'totally groundless'
Hong Kong airport to resume limited transit services
Transit services to partly resume on June 1, chief executive announces; karaoke lounges and nightclubs to reopen on Friday 
China warns US of countermeasures over Hong Kong trade threats
National security advisor said it would be 'a tragedy for Hong Kongers and very bad for China' if Beijing violates its international agreement over the city, but Beijing says US should not interfere

EU banks can weather coronavirus crisis: regulator
European Banking Authority said region's banks have 'strong capital and liquidity buffers' and 'this capital buffer should allow banks to withstand the potential credit risk losses'
Beijing vows to shield firms from US sanctions over Xinjiang
The US Commerce Department announced the sanctions on Friday, saying they were triggered by human rights abuses against Uighurs and other minorities in China's far northwest
White House economist sees double-digit jobless rate at US elections
Kevin Hassett predicted that US economic growth will 'skyrocket' in the third quarter but could fall short of a full recovery from the coronavirus pandemic
Meituan Dianping profit plummets amid coronavirus
Food delivery leader’s 13% decline in operating income reflected in slump in digital and physical sales

Asia sees unexpected gains in virus lockdowns

Asia sees unexpected gains in virus lockdowns
The death toll from car accidents has plunged in countries across Asia, while deaths from flu and cardiovascular problems are also down - and the skies are blue again


Start-ups to get listing boost
Promised reforms to new-growth exchanges will begin with ChiNext registration shake-up, removing regulator’s approval rule
China eliminates GDP target, eyes job creation
Lack of GDP growth target seen as 'wise', but analysts expected more stimulus spending by Beijing given the size of outlays by many other governments
TikTok: Dark side to the fun app? 
800 million people use this app for fun videos, but it collects a trove of information on users, easily accessed by the government, and can be used for 'soft' CCP messaging, analysts say
Markets this week: US-China clash over HK status in focus
Despite Trump's warning of a 'very strong' reaction, Foreign Minister Wang Yi said the security law for Hong Kong would be imposed without delay

WHO reports record virus cases as Trump proposes face-to-face G7 meet

WHO reports record virus cases as Trump proposes face-to-face G7 meet
Invites world leaders to Camp David next month to promote a return to 'normalisation'

Huawei Row

US-China chip battle burning firms on both sides
Key parts in Chinese phones come from American chip technology, and these devices are central to revolutionary applications now being developed; they are also found in weapons
Huawei draws line in the sand amid US-China tensions
Execs say, it's not about cybersecurity, it's about the US leveraging tech power to crush opponents
China says it’s hit ‘fast forward’ on 5G
More than 200,000 high-speed network base stations now in use by 128 million customers, ministry claims
Trump bets the farm on Huawei equipment ban
US president opts for so-called nuclear option to stop Chinese telecom giant's rollout of 5G mobile broadband

Recent Bonds and Ratings News

Shanghai pilot scheme for short-term corporate bonds
Companies applying for public issues of short-term corporate bonds which are listed on the SSE should have good short-term solvency
China urged to loosen shackles on SME bond market
Regulator says funding for businesses that account for 60% of GDP needs to be opened up to enable growth among small business
China launches its first 'blue bond' 
Funds from the Pearl River Delta Water Resources Allocation Project Special Bond will be used to increase drinking water in southern China
Surging sales push up bond trades 45%
PBoC sells 4.8tn yuan bonds in April as debt plans are brought forward to counter coronavirus-linked economic downturn


Positioning for the great thaw 
Reorganisation of global supply chains after the pandemic may not harm China - it could work in its favour
Why ‘Made in Vietnam’ won’t replace ‘Made in China’
As US seeks to decouple from China, it's a reach to think Vietnam will easily become the world's next factory floor
If ever there was a time to borrow big, it’s now
One caveat: Stiffing China on its Treasurys holdings would be the economic equivalent of injecting Lysol
China enjoying strong trade growth with its neighbours
Asian giant's export data show increasing integration with east Asia and Southeast Asia, as US reevaluates its relationship with Beijing

Technology vs. Coronavirus

WeChat data breach casts doubt on personal credit system  
Company says hackers created false data reports that were spread amongst users, but parent company Tencent is now a giant in China and has faced similar challenges before
Apple, Google launch contact tracing platform
The two firms said 22 countries had so far asked to use their platform and they expect more to come on board in coming weeks
Renewable energy should be at the heart of virus recovery plans: IEA
Agency says renewable projects are still of vital importance despite temporary drop in emissions and energy demand
Facebook chief wants EU not China to lead on tech rules
Zuckerberg says Chinese model of control is 'dangerous' if it spreads to other countries, urges EU to set global standards for tech regulation

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