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The private sector advances in China: The evolving ownership structures of the largest companies in the Xi Jinping era
April 5, 2022--This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics.
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and largest listed companies by market capitalisation since 2010, into state and private-sector categories, using a conservative definition of the private sector. Among the largest companies by revenue, the private sector was non-existent in the mid-2000s but has grown steadily in the past decade, even though the state sector still dominates. The aggregate revenue of private-sector companies grew from zero in Fortune's ranking in 2005 (based on 2004 revenue) to $104 billion in the 2011 ranking, or merely 3.8 percent of the $2.78 trillion in aggregate revenue for all Chinese companies in the ranking, and to $1.7 trillion in the latest 2021 ranking (based on 2020 revenue), or 19 percent of the Chinese companies' aggregate revenue.
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Source: bruegel.org
East Asia and Pacific Economic Recovery Faces Risks from the War in Ukraine, U.S. Monetary Tightening, and China Slowdown
April 4, 2022--The war in Ukraine threatens the uneven recovery of developing East Asia and Pacific (EAP) countries from the COVID-19 shock, the World Bank said on Monday. The war comes on top of the economic distress caused by the lingering COVID-19 pandemic, the financial tightening in the United States, and the pandemic resurgence amidst zero-COVID policies in China.
Shocks emanating from the war in Ukraine and the sanctions on Russia are disrupting the supply of commodities, increasing financial stress, and dampening global growth, according to the World Bank's East Asia and Pacific Economic Update: Braving the Storms. Countries in the region that are large importers of fuel- like Mongolia and Thailand, and food-like the Pacific Islands- are seeing a decline in real incomes. Countries with large debt -like Lao People's Democratic Republic and Mongolia - and high dependence on exports- like Malaysia and Vietnam-are susceptible to global financial and growth shocks.
view the World Bank East Asia and Pacific Economic Update: Braving the Storms April 2022
Source: worldbank.org
Samsung AM buys 20% stake in US ETF issuer Amplify
April 4, 2022--The strategic alliance between the Korean ETF pioneer and Amplify will see both companies develop new ETFs for Asia following record inflows into passives in the region last year.
Samsung Asset Management has acquired a 20% equity stake in US firm Amplify to offer its exchange-traded products in Asia, tapping into record inflows into passives in the region last year.
The strategic alliance between the Korean exchange-traded fund (ETF) pioneer and Amplify will see both companies developing new ETFs for the region.
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Source: citywireasia.com
Mirae Asset targets ESG and active strategies with new Hong Kong ETF listings
March 31, 2022--Seoul-based group cites growing investor awareness of sustainability as it unveils three Global X funds
Mirae Asset Global Investments- Hong Kong unit has rolled out three new exchange traded funds in the territory.
The Seoul-headquartered fund firm has listed the Global X Hang Seng ESG ETF, Global X Metaverse Theme Active ETF and Global X Electric Vehicle and Battery Active ETF, bringing the total number of Hong Kong-listed Global X ETFs to 35.
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Source: ft.com
China ETF investors endure 'dark' month as macro factors take over
March 31, 2022--Fund managers say fundamental growth story, especially tech, has been overshadowed by events
Investors in China equity exchange traded funds have needed nerves of steel in recent weeks.
Spooked by the war in Ukraine, anxiety over regulatory crackdowns and Chinese Covid outbreaks, they were in no mood for more bad news.
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Source: ft.com
Japan asks how low can the yen go, and will it hurt
March 23, 2022--Bears see currency hitting 125 to the dollar by year's end
Not long ago, Japan would have welcomed the yen weakening to a six-year low.
But now the energy-poor economy is feeling the pain as well as the gain.
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Source: asia.nikkei.com
Double-digit rise in Asian active ETF assets set to spur more growth
March 22, 2022--JPMAM and Federated Hermes are among managers planning to expand their regional offering
Global exchange traded fund issuers are looking to capitalise on the double-digit growth in active exchange traded fund assets among Asian institutional investors last year.
Assets allocated to active ETF strategies last year in Asia Pacific ex-Japan stood at $51.25bn, a nearly 19 per cent increase from the $43.12bn in 2020, according to data from Brown Brothers Harriman.
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Source: ft.com
OctaFX extends its trading offer by 25 new cryptocurrencies
March 16, 2022--The international Forex broker OctaFX has recently added 25 new cryptocurrencies paired with the U.S. dollar, ready to be traded on its services from 14 March 2022.
A brief market recap
The whole cryptocurrency market is turbulent since there is no certainty on where bitcoin might go next. After recovering from its low of 34,750 U.S. dollars on 24 February, the world's first cryptocurrency is in sideways motion with an occasional uptrend with some market participants' slightly bullish sentiments. At this time of writing, bitcoin hovers slightly above 39,000 U.S. dollars.
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Source: news.yahoo.com
CSOP Launches First Hong Kong Metaverse-Themed ETF
February 23, 2022--Meta Platforms is its largest holding at 6.38%, while Roblox, Nvidia and Unity as well as Apple, Snap, Sony and Tencent are among constituents
China's CSOP Asset Management has become the first fund house to launch a Hong Kong exchange traded fund (ETF) product targeting the metaverse investment theme.
The CSOP Metaverse Concept ETF will invest mainly in US-listed companies that are directly or indirectly involved in technology that backs products or services that will aid the development of the augmented reality of the metaverse.
The ETF is Hong Kong's first metaverse-focused fund. Meta Platforms, the newly rebranded parent company of Facebook and Instagram, was its largest holding, at 6.38%.
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Source: asiafinancial.com
Digital and Disruptive Technology Along with Circular Economy Can Generate Up to $3.4 Billion in Investments, Cost Savings and Revenues for Thailand
February 22, 2022--Accelerating the pace of digital and disruptive technologies while promoting a circular economy approach in key industries can generate up to $3.4 billion through investment flows, savings, and revenues for Thailand, according to a new World Bank Group report. These market opportunities will also support the nation's climate goals and contribute to a resilient growth trajectory.
The Thailand Country Private Sector Diagnostic (CPSD) report, by the IFC and the World Bank, says the country needs to foster a new innovation-led growth model while addressing existing investment constraints to create better jobs and achieve its goal of becoming a high-income country.
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Source: worldbank.org