Asia-Pacific - Asian banking news and insight -

China seeks to lower economic heat without extinguishing it

June 1, 2004

China is set to use medicine strong enough to cool down its investment fever, but not so potent as to bring the economy to a standstill. Banks are at the forefront of this austerity campaign, acting on the orders of the central government to choke off credit supply to overheated sectors.

India’s new government promises to continue economic reform

June 1, 2004

India’s Congress Party will lead an alliance of political parties that will form the next government after it emerged the surprise victor in the country’s national elections in early May. Voters shunned the previous regime led by the Bharatiya Janata Party whose economic reforms appear to have left a large majority of rural Indians unmoved.
Manmohan Singh, the former finance minister, will be the new prime minister after Congress party president Sonia Gandhi turned the job down.

Decade of reform

June 1, 2004

India’s securities went from third to first world in record time. But is T+1 a step too far, asks Kala Rao.

Korean finance back on agenda after impeachment resolution

June 1, 2004

With the uncertainty surrounding the two-month long impeachment process of President Roh Moo Hyun now finally resolved, and the president firmly back in the saddle, South Korea is keen to push ahead with more financial reform and, in particular, focus on asset management.

Vietnam moves into top gear

June 1, 2004

A trade boom coupled with WTO aspirations are prompting a more open market, writes Nick J Freeman.

Dangerous liaison?

May 2, 2004

Korea is becoming far too reliant on exporting to China, and the honey pot won’t last for ever, says Yang Sung-jin.

Foundation of Latin American economic revival is shaken by US and China

May 2, 2004

The signs for optimism in Argentina, Brazil and Mexico are under threat from a cooling of the Chinese economy and a probable rise in US interest rates.

Custodians could catch China outflow

May 2, 2004

The big issue in China is not inward investment but outward investment. Even as the queue for QFII (Qualified Foreign Institutional Investors) status lengthens (allowing access to China’s renminbi denominated A shares market, the bulk of stock market capitalisation), the talk is of when China’s own insurance and social security funds may be allowed to venture overseas freely and openly.

Foreign bank integration accelerates in China

May 2, 2004

Louise do Rosario says the pace of change has speeded up dramatically since China signed up for WTO status.
For many years, foreign banks in China grew at a snail’s pace, while the local economy was growing an impressive 8%-9% a year. Foreign banks made a negligible impact on the local banking scene, as they were confined by law to a few cities and to serve mainly foreigners.
This situation has changed, thanks to the financial liberalisation China has made in accordance with its commitments to the World Trade Organization (WTO).

Banking alliances

May 2, 2004

In recent years, foreign banks have made many alliances with and investments in their Chinese counterparts.

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