Lifted by India, South Asia Regains Growth Lead, Still Lags on Jobs
April 15, 2018--South Asia has regained its lead as the fastest growing region in the world, supported by recovery in India. With the right mix of policies and reforms, growth is expected to accelerate to 6.9 percent in 2018 and 7.1 percent next year.
The twice-a-year South Asia Economic Focus (SAEF) finds that the region could even extend its lead over East Asia and the Pacific. Much of the progress, however, is driven by India's growth rebound and is not consistent across countries. Despite accelerating global growth and trade, exports remain weak. Progress on fiscal consolidation is slow, and deficits are high.
view the World Bank South Asia Economic Focus Spring 2018 Jobless Growth? report
Source: World Bank
IMF Working Papers-Intergovernmental Fiscal Reform in China
April 13, 2018--Summary:
China is the most decentralized country in the world in terms of expenditures shares, with subnational governments responsible for 85 percent of government spending. Limited revenue autonomy and insufficient intergovernmental transfers have led to large unfunded mandates and a build-up of debt outside the budget.
The government has recently announced an ambitious intergovernmental fiscal reform, which will increase the role of the central government. Comprehensive reform is needed to improve public service delivery, increase overall social spending levels and reduce regional disparities. Revenue reforms are also necessary to improve efficiency and reduce vulnerabilities from excessive subnational borrowing. These reforms are challenging, but are crucial so that the government can support China's continued development and prosperity.
view the IMF Working Papers-Intergovernmental Fiscal Reform in China
Source: IMF
Brown Brothers Harriman (BBH) ETF Opportunities in Greater China Infographic
April 13, 2018--Brown Brothers Harriman (BBH) 2018 Greater China ETF Investor Survey Infographic-ETF Opportunities in Greater China.
view
Source: Brown Brothers Harriman (BBH)
Brown Brothers Harriman Supports CICC's Pioneering Hong Kong ETF
April 12, 2018--Brown Brothers Harriman & Co. (BBH) today announced its appointment as the custodian and administrator for the new ETF domiciled in Hong Kong launched by China International Capital Corporation (CICC) and Krane Funds Advisors, LLC (KraneShares).
Brown Brothers Harriman Trustee Services (Hong Kong) Limited serves as trustee and registrar.
An extension of CICC KraneShares' flagship U.S. listed ETF, the CICC KraneShares CSI China Internet Index ETF, is focused on investing in internet technology companies based in China and listed overseas.
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Source: publicnow.com
Growth Prospects for Developing East Asia and Pacific Remain Strong but Risks Need Attention, World Bank Says
April 12, 2018-- Growth in developing East Asia and Pacific (EAP) is expected to remain strong and reach 6.3 percent in 2018, according to the latest World Bank economic report on the region.
Prospects for a continued broad-based global recovery and robust domestic demand underpin this positive outlook. Still, emerging risks to stability and sustained growth require close attention.
Enhancing Potential, the April 2018 edition of the World Bank East Asia and Pacific Economic Update released today, underscores that even with favorable prospects, policy makers in the region will be well advised to recognize and address emerging challenges.
view the World Bank East Asia and Pacific Economic Update, April 2018: Enhancing Potential report
Source: World Bank
HKEX Welcomes its First ETF on Chinese Internet Companies
April 10, 2018--Index for new ETF includes shares of Mainland enterprises listed in Hong Kong and US
HKEX now has 107 ETFs listed in its securities market
Hong Kong Exchanges and Clearing Limited (HKEX) on Tuesday welcomed the listing of the CICC KraneShares CSI China Internet Index ETF, the first Hong Kong-listed Exchange Traded Fund, or ETF, focused on tracking Mainland Chinese Internet companies.
The underlying index of the ETF is the CSI Overseas China Internet Index, consisting of Mainland China-based companies listed in the US or Hong Kong whose primary business or businesses are related to Internet and Internet-related technology.
The new listing is the second Internet or technology-based ETF listed in Hong Kong, and also marks the first Hong Kong listing for US-based Krane Funds Advisors, LLC, a specialist in China-focused ETFs.
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Source: Hong Kong Exchanges and Clearing Limited (HKEX)
CESC Licenses HuaAn Fund Management to Use CES Stock Connect Hong Kong Select 100 Index for SSE-listed ETF
April 10, 2018--China Exchanges Services Company Limited (CESC) has licensed its CES Stock Connect Hong Kong Select 100 Index (CES SCHK100) to HuaAn Fund Management Co, Ltd
(HuaAn Fund) to serve as the underlying index for the HuaAn CES Stock Connect Hong
Kong Select 100 ETF (HuaAn CES100 ETF) that will be listed on the Shanghai Stock
Exchange (SSE) in mid-May.
The CES SCHK100 is comprised of the top 100 Hong Kong-listed stocks by market
capitalization eligible for Southbound Trading under Stock Connect, the mutual market access programme of the stock exchanges in Hong Kong, Shanghai and Shenzhen, excluding dual-listed A+H share companies.
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Source: China Exchanges Services Company Limited
BetaShares Australian ETF Review-March 2018
April 10, 2018--Positive inflows not enough to stop industry dip
With both Australian and Global equity markets falling significantly for the second month in a row, continued positive net inflows were not sufficient to stop the industry from declining -ending a 13 month run of positive growth.
Net new money for the industry was positive at $481m, but due to the extent of asset depreciation the industry actually fell in value.
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Source: BetaShares
China pledges to allow more foreign investment in financial sector by year-end
April 10, 2018--China laid out a clearer timetable on Wednesday for opening its financial sector to more foreign investment by the end of 2018, as Beijing looks to fend off growing criticism from the United States and other trading partners that it unfairly limits competition.
People's Bank of China (PBOC) Governor Yi Gang said China will allow foreign firms to compete on an equal footing with domestic companies in the financial sector, giving foreign banks more business scope in the country.
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Source: Reuters
China raises mainland-Hong Kong stock connect daily quotas
April 10, 2018--China's securities regulator has said the daily quota for trading schemes linking Shanghai and Shenzhen with Hong Kong will be increased from May 1.
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Source: FT.com
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