Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX). Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex


The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).
Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial.
Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Ex
Beijing will leave Hong Kong to resolve protests, HKEX chair says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, hkex, world, chair, protests, leave, cha, resolve, issues, exchange, hong, kong, stock, public, beijing


Beijing will leave Hong Kong to resolve protests, HKEX chair says

The Chinese government should and will let authorities in Hong Kong resolve the continued public protests that have beset the financial center, according to the chair of the Hong Kong Stock Exchange (HKEX).

Hong Kong has witnessed more than nine months of protests over a now suspended extradition bill that would have allowed people in the city to be sent to the mainland for trial. The public disorder has spread to consider other issues such as rampant property prices. The most recent rally on Sunday once again turned violent.

Speaking to CNBC’s Geoff Cutmore at the World Economic Forum in Davos on Monday, the chair of the Hong Kong Stock Exchange, Laura Cha, said she felt Beijing would resist from interfering.

“I believe that it will, and it should. It is a local issue under one country, two systems,” said Cha.

For 10 years until 2018, Cha was a member of China’s National People’s Congress, acting as the Hong Kong deputy. The businesswoman added she believed that Hong Kong would soon be able to tackle the issues that have led to the unrest.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: david reid
Keywords: news, cnbc, companies, hkex, world, chair, protests, leave, cha, resolve, issues, exchange, hong, kong, stock, public, beijing


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Global sustainability standards are needed to curb climate crisis, says environmental director

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards. There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. Lao, a Forbes Sustainability Leader, said she is alre


Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.
There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday.
Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence.
Lao, a Forbes Sustainability Leader, said she is alre
Global sustainability standards are needed to curb climate crisis, says environmental director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


Global sustainability standards are needed to curb climate crisis, says environmental director

Businesses need to be singing from the same hymn sheet if they want to make meaningful progress in combatting the climate crisis, said the environmental director of one of Asia’s leading hotel groups, Hong Kong and Shanghai Hotels.

Janice Lao, director of group corporate responsibility and sustainability at Hong Kong and Shanghai Hotels, has called for a consolidation of sustainability standards.

There are “too many” sustainability metrics out there and they are overwhelming the public and hindering progress, Lao told CNBC’s “Street Signs” on Monday. “If we don’t talk in one language, people are not going to understand what progress we’re trying to achieve (and) where we are in the journey.”

Sustainability standards have grown at a rapid rate in recent decades as environmental issues gain increasing prominence. As of 2019, there were over 400 measures, according to the State of Sustainability Initiatives.

Lao, a Forbes Sustainability Leader, said she is already in talks with several standards agencies to come up with coordinated sustainability metrics, but she said greater backing was needed.

“If we can consolidate the definitions, it’s much easier for us to tell our story … not only to the public but also to the business community, who are going to be making these types of investments,” she said.

Lao’s comments come as leaders gather at the World Economic Forum in Davos, Switzerland this week to discuss, among other things, striking a unified response to the intensifying climate crisis.

Hong Kong and Shanghai Hotels has been advocating environmental practices since 2013 via its “Sustainable Luxury Vision 2020,” which covers areas such as sustainable food sourcing and construction.

Lao noted that the luxury hotel chain, which has operations in Asia, the U.S. and Europe, has succeeded in receiving investor buy-in because it was able to present the plan as part of its long-term strategy.

The director said that approach may be less attainable for low to mid-range hotels, with smaller margins. However, she added that businesses should regard the shift to sustainability as an inevitability, particularly as more countries move to curb unsustainable practices.

“This is what the future is going to be like, this is the norm,” said Lao. “We know that in all the cities we’re going to be operating in, in all the countries we’re operating, we’re seeing more and more environmental, climate change and plastics regulation. That’s something that we’re preparing for.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: karen gilchrist
Keywords: news, cnbc, companies, global, needed, director, lao, shanghai, kong, standards, curb, environmental, crisis, climate, hotels, sustainability, going, progress


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Thousands-strong Hong Kong protest cut short by clashes

Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019. They held up signs that read “Free Hong Kong” and waved American and British flags. Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters. “I think Hong Kong has not been the focus of the world anymore,” he said. A former British colony, Hong Kong was returned to China in 1997.


Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019.
They held up signs that read “Free Hong Kong” and waved American and British flags.
Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters.
“I think Hong Kong has not been the focus of the world anymore,” he said.
A former British colony, Hong Kong was returned to China in 1997.
Thousands-strong Hong Kong protest cut short by clashes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-19
Keywords: news, cnbc, companies, return, park, kong, rally, near, protesters, chinese, lau, clashes, short, protest, thousandsstrong, cut, hong


Thousands-strong Hong Kong protest cut short by clashes

Police stand guard during a protest at the New Town Plaza shopping mall in Shatin in Hong Kong on December 15, 2019.

Clashes broke out between protesters and police in Hong Kong on Sunday, cutting short a rally after thousands had gathered at a park to call for electoral reforms and a boycott of the Chinese Communist Party.

Police fired tear gas near the park, known as Chater Garden, after some protesters attacked plainclothes officers — a return to the violence that has roiled the Chinese territory off and on for months.

Sporting their movement’s trademark black clothing and face masks, rally participants had earlier packed into Chater Garden, located near the city’s Legislative Council building. They held up signs that read “Free Hong Kong” and waved American and British flags.

“We want real universal suffrage,” the protesters chanted. “Disband the police force, free Hong Kong!”

Hong Kong media outlets reported that police arrested the rally’s organizer, Ventus Lau, shortly after he spoke to reporters.

Local broadcaster RTHK cited fellow organizers as saying that Lau was arrested for allegedly violating the police’s conditions for the rally.

Earlier in the day, Lau said he believes more large-scale protests are needed for global attention to return to Hong Kong, with the protest movement losing some of its momentum in recent weeks.

“I think Hong Kong has not been the focus of the world anymore,” he said.

He urged other countries to launch sanctions against Hong Kong’s government if it does not allow residents to directly elect Legislative Council members this year.

A former British colony, Hong Kong was returned to China in 1997. While the framework of “one country, two systems” promises the city greater democratic rights than are afforded to the mainland, protesters say their freedoms have been steadily eroding under Chinese President Xi Jinping.

Frictions between democracy-minded Hong Kongers and the Communist Party-ruled central government in Beijing came to a head last June, when proposed extradition legislation sparked months of mass demonstrations.


Company: cnbc, Activity: cnbc, Date: 2020-01-19
Keywords: news, cnbc, companies, return, park, kong, rally, near, protesters, chinese, lau, clashes, short, protest, thousandsstrong, cut, hong


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Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police. One Instagram account, for instance, has amassed more than 190


The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.
The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests.
Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.
One Instagram account, for instance, has amassed more than 190
Hong Kong protesters are voting with their wallets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
Keywords: news, cnbc, companies, protesters, protests, second, hong, voting, economy, yellow, yearswhile, kong, wallets, driven, 2019, businesses


Hong Kong protesters are voting with their wallets

The latest division in Hong Kong isn’t driven by posters and protests — it’s driven by consumers’ wallets as people vote with their money.

The city’s economy shrank in the second and third quarter of 2019, marking a technical recession and the first time in a decade its economy weakened for two consecutive quarters. The government forecasts the economy will contract by 1.3% in 2019 as the Asian financial hub braces for its first budget deficit in 15 years.

While most businesses want to stay out of politics, many have faced declining sales — partially as a result of a 40% decline in visitor numbers in the second half of 2019.

Yet, phone apps have popped up showing maps of businesses believed to be supporting the protests, as well as those that are not. The grass roots movement distinguishes businesses as yellow if they are vocal about the demonstrations, or assumed to be promoting the pro-democracy protests. Blue, on the other hand, is used for businesses perceived to be either against the protesters and/or are backing the government and police.

One Instagram account, for instance, has amassed more than 190,000 followers since its launch in September and shows and promotes, so-called “yellow businesses” that support the protests.

CNBC visited several businesses, including Lung Moon Restaurant in Hong Kong’s Causeway Bay district, which has a sign on its window declaring: Stand with Hong Kong.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: uptin saiidi
Keywords: news, cnbc, companies, protesters, protests, second, hong, voting, economy, yellow, yearswhile, kong, wallets, driven, 2019, businesses


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Almost 40% of the world’s countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. (Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study. There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c


Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China.
(Photo by Anthony Kwan/Getty Images)Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.
There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in c
Almost 40% of the world’s countries will witness civil unrest in 2020, research claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, witnessed, hong, worlds, 2020, research, witness, civil, protest, unrest, kong, rise, claims, risk, countries, protesters


Almost 40% of the world's countries will witness civil unrest in 2020, research claims

Protesters march on a street during a rally against the extradition law proposal on June 9, 2019 in Hong Kong China. Hundreds of thousands of protesters marched in Hong Kong in Sunday against a controversial extradition bill that would allow suspected criminals to be sent to mainland China for trial.(Photo by Anthony Kwan/Getty Images)

Almost a quarter of the world’s countries witnessed a surge in protest and unrest last year and that figure is set to rise further in 2020, according to a new study.

There are 195 countries in the world, if the Vatican and Palestine are included, and a newly released index of civil unrest has claimed that 47 of those states witnessed a rise in civil unrest in 2019.

The data model, published Thursday by socio-economic and political analysis firm Verisk Maplecroft, has also predicted that in 2020, the number will balloon to 75 countries.

The U.K. consultancy identified Hong Kong and Chile as the two flashpoints suffering the largest increases in unrest since the beginning of 2019. Neither country is expected to find peace for at least two years, according to the research.

Other areas now considered hotbeds of civil protest include Nigeria, Lebanon and Bolivia. Beyond these three, countries dropping into a category labeled “extreme risk” include Ethiopia, India, Pakistan and Zimbabwe.

Since the previous index release, Sudan has overtaken Yemen to become the highest risk country globally.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: david reid
Keywords: news, cnbc, companies, witnessed, hong, worlds, 2020, research, witness, civil, protest, unrest, kong, rise, claims, risk, countries, protesters


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For most luxury goods, this is the most expensive city in the world

Hong Kong was found to be the priciest city in the world for luxury products and services, according to a report by private bank Julius Baer. Asia came out as the most expensive region overall, home to five of the costliest cities in the world – after Hong Kong, this included Shanghai, Tokyo, Singapore and Taipei. Eight of the 10 most expensive places to buy a luxury car were in Asia, which the report attributed to high import taxes. But the cheapest city for luxury goods, Mumbai, is also in Asi


Hong Kong was found to be the priciest city in the world for luxury products and services, according to a report by private bank Julius Baer.
Asia came out as the most expensive region overall, home to five of the costliest cities in the world – after Hong Kong, this included Shanghai, Tokyo, Singapore and Taipei.
Eight of the 10 most expensive places to buy a luxury car were in Asia, which the report attributed to high import taxes.
But the cheapest city for luxury goods, Mumbai, is also in Asi
For most luxury goods, this is the most expensive city in the world Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: vicky mckeever
Keywords: news, cnbc, companies, goods, kong, buy, wedding, mumbai, city, property, luxury, expensive, world, report


For most luxury goods, this is the most expensive city in the world

Hong Kong was found to be the priciest city in the world for luxury products and services, according to a report by private bank Julius Baer.

It is the most expensive place to hire a lawyer, due to being a financial center, with a simple will consultation setting someone back $1,050 on average.

Hong Kong also has among the highest price tags for property, cars, a business class flight, fine dining, a wedding banquet and beauty services.

However, Hong Kong puts no duties on jewelry, meaning it can be a relatively the cheap city to buy this high-end product, though a Cartier Love bracelet will still cost $42,228. It costs even more in Brazil’s capital of Rio de Janeiro, at $54,852, as taxes on jewelry can be double the levies charged in North America and Europe.

Julius Baer surveyed the prices of 18 premium goods and services across 28 cities around the world for its first Global Wealth and Lifestyle Report 2020, released on Thursday.

Asia came out as the most expensive region overall, home to five of the costliest cities in the world – after Hong Kong, this included Shanghai, Tokyo, Singapore and Taipei.

Property is particularly costly in the region, with six of the 10 most expensive cities located in Asia. Eight of the 10 most expensive places to buy a luxury car were in Asia, which the report attributed to high import taxes.

But the cheapest city for luxury goods, Mumbai, is also in Asia. High-end men’s suits, wedding banquets and personal trainers are all cheapest in the Indian city. For instance, a wedding banquet for 400 people at a top hotel in Mumbai would cost an average of $21,754.

Having a bottoming residential property market also made the city more affordable for the rich. In fact, wealthy residents are able to buy property at around a tenth of the price of the most expensive city.

It is also found to be relatively good value to stay in high-end hotels, enjoy fine dining, buy whisky and to hire a lawyer in Mumbai.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: vicky mckeever
Keywords: news, cnbc, companies, goods, kong, buy, wedding, mumbai, city, property, luxury, expensive, world, report


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China-US phase one deal could give Hong Kong’s port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.” The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. “There is very little exported from here that is manufa


Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island.
We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”
The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board.
According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018.
“There is very little exported from here that is manufa
China-US phase one deal could give Hong Kong’s port a much-needed boost Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
Keywords: news, cnbc, companies, chinaus, muchneeded, boost, hong, world, according, port, levesque, kong, deal, phase, business, container, china, kongs


China-US phase one deal could give Hong Kong's port a much-needed boost

Aerial view of the Hong Kong Container Terminals and the Stonecutters Bridge with the back ground of the Hong Kong island. Geovien So | SOPA Images | LightRocket | Getty Images

The port of Hong Kong, once the world’s busiest, could get a boost after the phase one trade deal between the U.S. and China is signed, according to the managing director of Modern Terminals. The ambiguity brought on by the trade dispute between China and the U.S. in the last two years has created a lot of uncertainty for businesses, particularly for the port business, said Peter Levesque of Modern Terminals — the second largest container terminal operator in Hong Kong. He added that he hopes both sides can get this initial deal implemented. “It’s almost impossible to put a game plan together when the goal post is moving almost daily,” Levesque told CNBC’s “Squawk Box” on Wednesday. “So we hope that through phase one agreement that we’ll be able to get a lot more certainty around what the future looks like. We’ll be able to plan better and we’ll be able to bring more volume back to Hong Kong.”

Shanghai overtakes Hong Kong as busiest port

Levesque, who has been a resident of Hong Kong for 25 years, said he witnessed the the territory’s handover to China in 1997, as well as China’s rapid economic growth. The Port of Hong Kong was the world’s busiest container port by volume in 2004, according to the Hong Kong Port and Maritime Board. But it has since been overtaken by others in the region — a worrying trend as the port business is one of the key drivers of Hong Kong’s economy. According to the World Shipping Council, Hong Kong Port was the seventh largest in the world in 2018. Four mainland Chinese ports — Shanghai, Ningbo-Zhousan, Shenzhen, Guangzhou — were among the top 5 world container ports by volume in the world that year.

Hopefully both sides can step back … and hopefully we can get there without having any miscommunications and misunderstandings that set us back again. Peter Levesque managing director of Modern Terminals

Hong Kong’s port activities are mostly made up of transshipment businesses, and only about 14% to 15% of that business is trans-pacific to the United States, according to Levesque. “There is very little exported from here that is manufactured in Hong Kong. We’re taking business, we’re moving shipments through China, through Hong Kong to the rest of the world. And then in the opposite direction, through Hong Kong back into China,” he said. Hong Kong’s economy entered a technical recession in the third quarter of 2019, and contracted by 3.2% quarter-on-quarter in real terms, after declining by 0.5% in the preceding quarter. “When China and the United States aren’t agreeing with each other, it actually affects all markets. And that’s just something we hope to rebound with the implementation of phase one,” Levesque added.

Impact of phase one trade deal

“China agreeing to buy another $200 billion worth of goods and services from the United States, and I think more importantly, addressing the issues around IP (intellectual property) protection and forced technology transfer and opening up markets more for financial industry and the insurance industry — those are major positive steps. And the U.S. side then coming back and lowering tariffs,” Levesque said. “Hopefully both sides can step back and take a deep breath and get this phase one into implementation and hopefully we can get there without having any miscommunications and misunderstandings that set us back again,” he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: grace shao
Keywords: news, cnbc, companies, chinaus, muchneeded, boost, hong, world, according, port, levesque, kong, deal, phase, business, container, china, kongs


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Standard Chartered CEO says the global economy is inching back to ‘normal’

There have been signs that some risks in the global economy are receding, allowing businesses to once again plan for the long term, said Bill Winters, chief executive of British bank Standard Chartered. The U.S.-China trade war dominated investors’ attention for much of the past two years and caused companies to hold back capital expenditure at a time when the global economy was already slowing down. That resulted in the International Monetary Fund slashing its global growth forecast multiple ti


There have been signs that some risks in the global economy are receding, allowing businesses to once again plan for the long term, said Bill Winters, chief executive of British bank Standard Chartered.
The U.S.-China trade war dominated investors’ attention for much of the past two years and caused companies to hold back capital expenditure at a time when the global economy was already slowing down.
That resulted in the International Monetary Fund slashing its global growth forecast multiple ti
Standard Chartered CEO says the global economy is inching back to ‘normal’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, global, ceo, kong, uschina, standard, signs, bank, chartered, winters, markets, inching, economy, stanchart, normal


Standard Chartered CEO says the global economy is inching back to 'normal'

There have been signs that some risks in the global economy are receding, allowing businesses to once again plan for the long term, said Bill Winters, chief executive of British bank Standard Chartered.

Winters pointed out on Monday that the U.S. and China have returned to “proper dialogue” to iron out their trade conflict, while disruption from pro-democracy protests in Hong Kong looked to be subsiding with early signs of tourists returning to the city.

The CEO said business at Stanchart, a London-headquartered bank focused on emerging markets, has been affected by the lack of confidence among firms to invest for the long term. He predicted that it’ll take awhile for all of that to recover.

But, “the good news is the state of the world is returning to something a little bit closer to normal,” he told CNBC’s “Street Signs Asia.”

The U.S.-China trade war dominated investors’ attention for much of the past two years and caused companies to hold back capital expenditure at a time when the global economy was already slowing down. That resulted in the International Monetary Fund slashing its global growth forecast multiple times since the trade war started.

Hong Kong, where Stanchart derives a major portion of its profits, saw its economy struggle under the pressure of the U.S.-China trade fight and anti-government protests which primarily hit the retail and hospitality sectors.

While the outlook for the U.S.-China trade relations and Hong Kong economy are on the mend, Winters said he’s “very concerned” that tensions in the Middle East could escalate after Iran last week fired missiles at Iraqi bases housing U.S. troops.

“Anything that came from an increase in violence in that region would directly impact the economy, would impact the prospects of the commercial markets,” he said.

“We’re assured by the fact that the U.S. and Iran seem to be in a phase of deescalation after the dramatic events of last week, but we’re fully aware that the underlying issue hasn’t been resolved,” Winters added.

The bank has a presence in Dubai and is setting up a full branch in Saudi Arabia, noted Winters. Still, Stanchart wouldn’t pull out of the markets at the first sign of trouble, he said.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yen nee lee
Keywords: news, cnbc, companies, trade, global, ceo, kong, uschina, standard, signs, bank, chartered, winters, markets, inching, economy, stanchart, normal


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Taiwan heads to the polls in what is seen as a referendum on its relationship with China

Taiwan heads to the polls on Saturday with the island sitting in the center of a struggle for regional dominance between the United States and China. In the race are incumbent president Tsai Ing-wen from the Democratic Progressive Party (DPP) and Kuomintang (KMT) or Nationalist Party’s Han Kuo-yu, also the mayor of Kaohsiung city. The presidential vote on January 11 is seen as a referendum on Taiwan’s identity, sovereignty and Chinese influence. Communist China has never ruled over Taiwan, but B


Taiwan heads to the polls on Saturday with the island sitting in the center of a struggle for regional dominance between the United States and China.
In the race are incumbent president Tsai Ing-wen from the Democratic Progressive Party (DPP) and Kuomintang (KMT) or Nationalist Party’s Han Kuo-yu, also the mayor of Kaohsiung city.
The presidential vote on January 11 is seen as a referendum on Taiwan’s identity, sovereignty and Chinese influence.
Communist China has never ruled over Taiwan, but B
Taiwan heads to the polls in what is seen as a referendum on its relationship with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: huileng tan
Keywords: news, cnbc, companies, hong, tsai, polls, systems, lin, kong, referendum, taiwan, china, heads, president, relationship, taiwans, seen


Taiwan heads to the polls in what is seen as a referendum on its relationship with China

Taiwan heads to the polls on Saturday with the island sitting in the center of a struggle for regional dominance between the United States and China. “Taiwanese voters, for the first time, are voting between two candidates that have completely different visions of what Taiwan’s relationship is with China and the world,” said Shirley Lin, Compton Visiting Professor in World Politics at the Miller Center of Public Affairs, University of Virginia. In the race are incumbent president Tsai Ing-wen from the Democratic Progressive Party (DPP) and Kuomintang (KMT) or Nationalist Party’s Han Kuo-yu, also the mayor of Kaohsiung city. The presidential vote on January 11 is seen as a referendum on Taiwan’s identity, sovereignty and Chinese influence. Legislative elections will also be held on the same day, although the race is traditionally focused more on local issues and less on national sovereignty, noted Eurasia Group, the geopolitical consultancy. Communist China has never ruled over Taiwan, but Beijing claims self-ruled Taiwan as its territory and has never renounced the use of force to achieve “reunification.”

Taiwan’s relationship with China has cooled significantly since Tsai, an independence-leaning politician, took office in 2016. And Tsai has set out to steer Taiwan’s reliance away from mainland China both economically and in other respects, said Lin. On the other hand, the KMT’s Han “believes that we should integrate more closely with China economically — may not be politically, in order to solve many of Taiwan’s socioeconomic problems — and many of his supporters also support unification,” said Lin. The third candidate James Soong is a veteran politician who is the chairman of the smaller People First Party. Soong announced his candidacy in November and is not seen to be posing a serious challenge to Tsai or Han.

Hong Kong factor

Tsai’s popularity tanked after she won the 2016 presidential election, but things have been turning around for her since early last year, when she responded forcefully to Chinese President Xi Jinping’s aggressive New Year’s speech where he said Beijing reserved the right to bring Taiwan under its control, by force if necessary. Xi has been “a fantastic campaign manager for her,” said Rupert Hammond-Chambers, managing director for Taiwan at BowerGroupAsia, a government affairs and public policy consulting firm.

Tsai scored points with the Taiwanese when she “defended the island’s democracy and she spoke out clearly about the shortcomings of ‘one country, two systems’ and the fact that it’s a non-starter for Taiwan,” noted Hammond-Chambers. The “one country, two systems” applies to Hong Kong, a former British colony that returned to Chinese rule in 1997, which has seen months of pro-democracy protests as its young people fight to keep out Beijing’s growing influence. Under that principle, Hong Kong is given self-governing power, a largely separate legal and economic framework from China, and various freedoms including limited election rights. But citizens say their freedoms have eroded. Tsai got a further boost in 2019 when she rejected Beijing’s policy. “As long as I’m President, ‘one country, two systems’ will never be an option,” she proclaimed on Twitter on June 9, in support of the Hong Kong protests.

What the results will mean


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: huileng tan
Keywords: news, cnbc, companies, hong, tsai, polls, systems, lin, kong, referendum, taiwan, china, heads, president, relationship, taiwans, seen


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New chief of China’s Hong Kong liaison office hopes city returns to the ‘right path’

Luo Huining, former Governor of Qinghai Province of China leaves after meeting with Indian Minister of External Affairs S. M. Krishna in New Delhi. The new head of China’s liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to “the right path”. Luo Huining, 65, replaced Wang Zhimin, who had held the post since 2017.


Luo Huining, former Governor of Qinghai Province of China leaves after meeting with Indian Minister of External Affairs S. M. Krishna in New Delhi.
The new head of China’s liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to “the right path”.
Luo Huining, 65, replaced Wang Zhimin, who had held the post since 2017.
New chief of China’s Hong Kong liaison office hopes city returns to the ‘right path’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06
Keywords: news, cnbc, companies, huining, china, strongest, kong, hong, right, city, path, senior, office, liaison, hopes, territory, chinas, return, wang, returns, zhimin


New chief of China's Hong Kong liaison office hopes city returns to the 'right path'

Luo Huining, former Governor of Qinghai Province of China leaves after meeting with Indian Minister of External Affairs S. M. Krishna in New Delhi.

The new head of China’s liaison office in Hong Kong, the most senior mainland official based in the territory, said on Monday China was the strongest backer of the Asian financial hub, which he hoped would return to “the right path”.

Luo Huining, 65, replaced Wang Zhimin, who had held the post since 2017.


Company: cnbc, Activity: cnbc, Date: 2020-01-06
Keywords: news, cnbc, companies, huining, china, strongest, kong, hong, right, city, path, senior, office, liaison, hopes, territory, chinas, return, wang, returns, zhimin


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