The Asia Eight

Daily must-reads from the world’s most dynamic region

December 21, 2020

1 TOP STORY: US mulls $1.9bn Huawei alternatives

2 NEWS: China move to put squeeze on tax dodgers

3 ATF TV: China's rebound from pandemic downturn

4 ASIA MARKETS: Nikkei, HSI fall; and CSI300 climbs

5 NEWS: Japan passes record pandemic budget

6 NEWS: Chinese economy in dire need of workers

7 COMMENT: The Ghost of Christmas past

8 ATF BIG PICTURE: India set for LNG revolution

01 Top Story US mulls Huawei replacements

Finding alternatives to the widely shunned Chinese telecoms giant is becoming big business as companies around the world vie for contracts to install their own kit.

02 China tax rethink

Many citizens now pay tax via an app on their phones, but the number of taxpayers is low; and with revenue having declined this year, home loans, rent and bonuses will no longer be exempt; private businesses are also being urged to pay more. 

03 ATF TV China's bounce back

China’s economy has bounced back since it was devastated early in the year by the pandemic. Mark Konyn, Group CIO at AIA tells ATF TV how it bucked the global trend.

04 Asia Markets

Nikkei 225 falls 0.2% to 26,714.42; Hang Seng Index slides 0.7% to 26,306.68; CSI300 climbs 0.8% 3,420.57.

05 Japan's record budget

The $1-trillion-plus spending plan is 4% larger than last year's and includes record defence and welfare outlays, while new debt makes up more than a third of revenue

06 China labour demand

Country's global export share increased to over 13% in the second and third quarters from 11% last year, with output of industrial robots, computer equipment, integrated circuits and bicycles surging in recent months, despite a shortage of workers in some areas

07 Comment

“There is always some ‘Ghost of Christmas Past’ lurking in the closet, only this year it has morphed into a mutant form of the Covid-19 virus. The end of 2020 cannot get here soon enough."

Stephen Innes, Chief Global Market Strategist at Axi

08 The ATF Big Picture Indian LNG revolution

Production at the country’s first ultra-deep water gas field got underway last week as the New Delhi government looks to reduce its dependence on energy imports