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Preparing for the Coming E-Fapiao Era – China Briefing Magazine
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Different Democracies, The Greater Bay Area & Russian Asia
Monday March 1, 2021
This week has raised an interesting issue concerning the West’s support for democratic and upholding general principles of decency when it comes into conflict with the US capitalist system. The United States CIA issued a report stating that Mohammed bin Salman, the Heir Apparent and Crown Prince of Saudi Arabia had personally approved the grisly murder of the journalist Jamal Khashoggi. The US President, who just days earlier had stated that ‘Democracy is under threat’ has subsequently declined to sanction bin Salman, although other, more minor Saudi officials have been blackballed. It is of course nothing to do with the issue that Saudi Arabia had recently committed to purchasing US$350 billion of weapons from the United States. Biden made his ‘democracy is under threat’ speech on January 14. He then lambasted China’s President Xi Jinping stating ‘He doesn’t have a democratic bone in hi
Although specific details of the implementation of the GBA Initiative have not fully been established, the past two years have witnessed many significant policy developments.
For example, on the financial services front, Hong Kong is working closely with mainland authorities to successfully implement a number of facilitation measures set out in the GBA Outline Development Plan, including remote onboarding for mainland bank account opening, promoting the usage of Hong Kong digital wallets in the GBA, as well as the successful launch of the Wealth Management Connect.
In
China Briefing magazine, we demonstrate the opportunities in the Greater Bay Area from multiple perspectives. We begin by presenting an overview of the GBA, and illustrate the role played by its major cities. Then, we summarize the major incentives offered in the region, before exploring the improving connectivity in the financial sector. Finally, we analyze Hong Kong’s role as a global financial hub, which will b
China’s 2020 Amended Negative List
China’s ‘Negative List’ is a detailed description of which industrial and service sectors in China are open, partially open, or closed to foreign investors in China. The ‘Negative’ title reflects the off-limits sectors. The 2020 amendment significantly increases market access for foreign companies in China. We can see an example of the impact that has had in the following graphic concerning Germany, courtesy of
China Investment Research and the Frankfurt School of Finance & Management.
Change Two: Foreign investors have significantly improved China’s market access. While the EU may not wish to acknowledge this, that is largely in part because they are attempting to negotiate a free trade deal with China, and they do not wish to note that China already provided improved terms. Hence, the difference in EU negotiators stance that “more must the done to open up the China market” and Germany’s own corporate investors who have g
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