Wednesday, February 24, 2021
Ghana Today
  • Home
  • News
    A Great Asset For Ghana Football: Ghanatoday.net

    A Great Asset For Ghana Football: Ghanatoday.net

    Breaking News: Sellas Tetteh resigns as head coach of Sierra Leone – Ghana Latest Football News, Live Scores, Results: Ghanatoday.net

    Two cases of coronavirus confirmed in Ghana: Ghanatoday.net

    Two cases of coronavirus confirmed in Ghana: Ghanatoday.net

    Govt tightens border checks as coronavirus spreads: Ghanatoday.net

    COVID-19: Ghana confirms two cases: Ghanatoday.net

  • Politics
    Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

    Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

    I’ll fight Galamsey without partisanship

    I’ll fight Galamsey without partisanship

    End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

    End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

    Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

    Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

  • Entertainment
    Pulse Picks: Top 10 entertainment stories that defined 2020 [ARTICLE]

    Pulse Picks: Top 10 entertainment stories that defined 2020 [ARTICLE]

    From Manny Pacquiao to Shirley Temple: Seven celebrities who swapped the entertainment industry for politics

    From Manny Pacquiao to Shirley Temple: Seven celebrities who swapped the entertainment industry for politics

    At CES 2020 Panasonic Demonstrates the Future

    At CES 2020 Panasonic Demonstrates the Future

    Christabel Ekeh pictures, biography, boyfriend ▷ YEN.COM.GH

    Christabel Ekeh pictures, biography, boyfriend ▷ YEN.COM.GH

  • Lifestyle
    What you need to know about vaccination for COVID-19 – An interview with Dr. Sabastine Eugene Arthur, A Virologist

    What you need to know about vaccination for COVID-19 – An interview with Dr. Sabastine Eugene Arthur, A Virologist

    Riding the wave of mobile money markets in Ghana

    Riding the wave of mobile money markets in Ghana

    93 Black-Owned Makeup, Skincare, and Fashion Brands to Support Now and Always

    93 Black-Owned Makeup, Skincare, and Fashion Brands to Support Now and Always

    Anthropometric indices, blood pressure, and lipid profile status among women using progestin-only contraceptives: comparative cross-sectional study | BMC Women’s Health

    Technology as the key to women’s empowerment: a scoping review | BMC Women’s Health

  • Africa

    More than 10 countries in Africa report COVID-19 cases

    The Dance: the South Africans who finish high school against all odds | Global development

    Facebook, Twitter suspend Russia-linked operation targeting African Americans on social media – News – MetroWest Daily News, Framingham, MA

    Facebook, Twitter suspend Russia-linked operation targeting African Americans on social media – News – MetroWest Daily News, Framingham, MA

    The fight for west Africa’s fish

    The fight for west Africa’s fish

  • Business
    Keeping our African commitment Jaishankar after Ghana receives Made in India COVID 19 vaccines-ANI-Ghanatoday.net

    Keeping our African commitment Jaishankar after Ghana receives Made in India COVID 19 vaccines-ANI-Ghanatoday.net

    Government will ensure COVID-19 vaccines deployed in Ghana are effective and safe – Akufo-Addo-Ghanatoday.net

    Ghana to receive compensation for COVAX vaccine side effects-Ghanatoday.net

    Ghana’s biggest car snatching syndicate busted with 7 stolen cars-Ghanatoday.net

    Ghana’s biggest car snatching syndicate busted with 7 stolen cars-Ghanatoday.net

    Agric leads beneficiaries of BUSAC investment-Ghanatoday.net

    Agric leads beneficiaries of BUSAC investment-Ghanatoday.net

  • Viral News
  • Videos
    Tanzania | Spirit of Africa in 4K-ghanatoday.net

    Tanzania | Spirit of Africa in 4K-ghanatoday.net

    LIVING OFF-GRID IN GHANA, AFRICA!-ghanatoday.net

    LIVING OFF-GRID IN GHANA, AFRICA!-ghanatoday.net

    Prez Akuffo-Addo In Mali To Mediate Political Crisis-ghanatoday.net

    Prez Akuffo-Addo In Mali To Mediate Political Crisis-ghanatoday.net

    Reggie and Bollie arrive in Ghana – AM Showbiz on Joy News (27-4-16)-ghanatoday.net

    Reggie and Bollie arrive in Ghana – AM Showbiz on Joy News (27-4-16)-ghanatoday.net

No Result
View All Result
  • Home
  • News
    A Great Asset For Ghana Football: Ghanatoday.net

    A Great Asset For Ghana Football: Ghanatoday.net

    Breaking News: Sellas Tetteh resigns as head coach of Sierra Leone – Ghana Latest Football News, Live Scores, Results: Ghanatoday.net

    Two cases of coronavirus confirmed in Ghana: Ghanatoday.net

    Two cases of coronavirus confirmed in Ghana: Ghanatoday.net

    Govt tightens border checks as coronavirus spreads: Ghanatoday.net

    COVID-19: Ghana confirms two cases: Ghanatoday.net

  • Politics
    Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

    Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

    I’ll fight Galamsey without partisanship

    I’ll fight Galamsey without partisanship

    End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

    End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

    Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

    Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

  • Entertainment
    Pulse Picks: Top 10 entertainment stories that defined 2020 [ARTICLE]

    Pulse Picks: Top 10 entertainment stories that defined 2020 [ARTICLE]

    From Manny Pacquiao to Shirley Temple: Seven celebrities who swapped the entertainment industry for politics

    From Manny Pacquiao to Shirley Temple: Seven celebrities who swapped the entertainment industry for politics

    At CES 2020 Panasonic Demonstrates the Future

    At CES 2020 Panasonic Demonstrates the Future

    Christabel Ekeh pictures, biography, boyfriend ▷ YEN.COM.GH

    Christabel Ekeh pictures, biography, boyfriend ▷ YEN.COM.GH

  • Lifestyle
    What you need to know about vaccination for COVID-19 – An interview with Dr. Sabastine Eugene Arthur, A Virologist

    What you need to know about vaccination for COVID-19 – An interview with Dr. Sabastine Eugene Arthur, A Virologist

    Riding the wave of mobile money markets in Ghana

    Riding the wave of mobile money markets in Ghana

    93 Black-Owned Makeup, Skincare, and Fashion Brands to Support Now and Always

    93 Black-Owned Makeup, Skincare, and Fashion Brands to Support Now and Always

    Anthropometric indices, blood pressure, and lipid profile status among women using progestin-only contraceptives: comparative cross-sectional study | BMC Women’s Health

    Technology as the key to women’s empowerment: a scoping review | BMC Women’s Health

  • Africa

    More than 10 countries in Africa report COVID-19 cases

    The Dance: the South Africans who finish high school against all odds | Global development

    Facebook, Twitter suspend Russia-linked operation targeting African Americans on social media – News – MetroWest Daily News, Framingham, MA

    Facebook, Twitter suspend Russia-linked operation targeting African Americans on social media – News – MetroWest Daily News, Framingham, MA

    The fight for west Africa’s fish

    The fight for west Africa’s fish

  • Business
    Keeping our African commitment Jaishankar after Ghana receives Made in India COVID 19 vaccines-ANI-Ghanatoday.net

    Keeping our African commitment Jaishankar after Ghana receives Made in India COVID 19 vaccines-ANI-Ghanatoday.net

    Government will ensure COVID-19 vaccines deployed in Ghana are effective and safe – Akufo-Addo-Ghanatoday.net

    Ghana to receive compensation for COVAX vaccine side effects-Ghanatoday.net

    Ghana’s biggest car snatching syndicate busted with 7 stolen cars-Ghanatoday.net

    Ghana’s biggest car snatching syndicate busted with 7 stolen cars-Ghanatoday.net

    Agric leads beneficiaries of BUSAC investment-Ghanatoday.net

    Agric leads beneficiaries of BUSAC investment-Ghanatoday.net

  • Viral News
  • Videos
    Tanzania | Spirit of Africa in 4K-ghanatoday.net

    Tanzania | Spirit of Africa in 4K-ghanatoday.net

    LIVING OFF-GRID IN GHANA, AFRICA!-ghanatoday.net

    LIVING OFF-GRID IN GHANA, AFRICA!-ghanatoday.net

    Prez Akuffo-Addo In Mali To Mediate Political Crisis-ghanatoday.net

    Prez Akuffo-Addo In Mali To Mediate Political Crisis-ghanatoday.net

    Reggie and Bollie arrive in Ghana – AM Showbiz on Joy News (27-4-16)-ghanatoday.net

    Reggie and Bollie arrive in Ghana – AM Showbiz on Joy News (27-4-16)-ghanatoday.net

No Result
View All Result
Ghana Today
No Result
View All Result
Home Politics
Foreign firms buy more China despite tensions with US

Foreign firms buy more China despite tensions with US

June 22, 2020
in Politics


A pedestrian wearing a protective mask walks through the Lujiazui financial district in Shanghai, China, on Friday, March 20, 2020.

Qilai Shen | Bloomberg | Getty Images

As global uncertainty escalates, more foreign businesses are buying into China, including deals in the more sensitive industries of finance and technology.

“Over the past 18 months, we have recorded levels of foreign M&A (mergers and acquisitions) into China that were not seen in the previous decade,” research firm Rhodium’s partner Thilo Hanemann and founding partner Daniel H. Rosen wrote in an online report released Thursday.

“Most of that activity has been driven by American and European firms taking advantage of looser foreign ownership limits or betting on Chinese consumer demand,” the report said.

Through the years, the Chinese government has gradually increased the industries in which foreign businesses can operate, and has also peeled back restrictions on wholly-owned foreign operations.

Many foreign financial institutions in particular are buying up majority stakes in their Chinese joint ventures and applying for licenses to manage more local money.

At a high-level annual financial conference in Shanghai that wrapped up Friday, China’s top regulators emphasized that the world’s second-largest economy would keep opening up its local capital markets to foreigners.

“The market in China is very big and lots of these foreign (corporate) investors, they are looking at the long-term business development in China,” Martin Wong, managing partner of the insurance sector for the financial services industry at Deloitte China, said in a phone interview early last week. “They’r’e not looking at the short and medium term.”

The rising business interest in China contrasts with an increasingly tense geopolitical environment.

Since U.S. President Donald Trump‘s administration began stepping up pressure on China with tariffs about two years ago, the political campaign has spread to technology and finance. The emergence of Covid-19 late last year in the Chinese city of Wuhan and the resulting global pandemic has only strained U.S.-China relations further.

The economic shock of coronavirus-induced restrictions on business activity caused the gross domestic product in both the U.S. and China to contract in the first quarter. Many economists expect U.S. GDP will fall by more than 40% in the second quarter, and China’s to eke out some growth, ahead of a rebound later this year.

Amid the economic and geopolitical pressures, Chinese companies are investing less overseas, according to data disclosed Thursday by China’s Ministry of Commerce. But foreign investment rose 7.5% from a year ago in May to 68.63 billion yuan ($9.87 billion). 

The Rhodium report pointed out that another factor behind the investment trend is that in some industries, Chinese businesses have now become leaders – partly through the rise of start-ups and government policy support. 

“For the first time, therefore, it is attractive for foreigners to buy technology and industrial assets rather than build from scratch,” the authors wrote.

What companies are buying

Here are a few deals this year that Rhodium highlighted:

China has kept its markets closed long enough to develop its own giants in many industries. But other sectors are still in the early stages of development. At the intersection of a rising middle class and looser financial ownership restrictions is the insurance industry.

In December, France-based insurer AXA announced it completed the buyout of its domestic shareholders worth roughly 4.6 billion yuan, and claimed to be the largest 100% foreign-owned property and casualty insurance company in the Chinese market. 

Looking ahead, AXA China CEO Xavier Veyry said the company is looking to tap into Chinese consumers’ increased demand for health insurance. 

“It is important for foreign enterprises, before anything, to be rooted in the Chinese market, serving Chinese customers with the support of the parent company because China is not one market and customer needs are very diverse and demand for advanced digital applications will propel the future,” Veyry said in a statement to CNBC earlier this month.

Governance concerns

China may present a unique opportunity for businesses in search of growth right now. But worries of fraud have escalated after Nasdaq-listed Luckin Coffee, which touted itself as the local rival to Starbucks, disclosed in April the fabrication of about 2.2 billion yuan in sales last year. 

The U.S. Senate unanimously and quickly passed legislation in late May that could ultimately force Chinese companies to delist their stocks from U.S. exchanges. The House of Representatives is expected to vote later this summer.

The problem right now is (the U.S. regulators) need to sit down with us with the attitude of resolving problems to find a plan.

Fang Xinghai

vice chairman, China Securities Regulatory Commission

Chinese regulators have tried to signal they are taking some action to prevent fraud in light of the Luckin scandal.

“We are willing to resolve problems,” Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said Thursday at the Lujiazui Forum in Shanghai, according to a CNBC translation of his Mandarin-language remarks shared through state-backed media. 

“The problem right now is (the U.S. regulators) need to sit down with us with the attitude of resolving problems to find a plan,” Fang said. 

Across Asia, fraud is only going to increase as the coronavirus shock puts greater pressure on business units to turn a profit, and remote working setups can be more vulnerable to cyberattacks, some analysts said. 

That’s leading to some regional business opportunities. 

Chris Fordham, managing director at Alvarez & Marsal’s disputes and investigations team in Hong Kong and China, told CNBC last week that the company plans to double its headcount from about 50 people right now in Greater China, to 100 in about two years.

But for all China’s talk of opening, foreign businesses, including those in finance, still complain of burdensome local requirements, not to mention a state-dominated local market.

Peter Ling-Vannerus, chair of the banking and securities working group at the EU Chamber of Commerce in China, pointed out that China’s financial institutions are some of the largest companies in the world with significant state support and 20% of global deposits. “They are behemoths that are not easily competed with,” he said in a statement. 

Within China, “European banking executives highlighted the staggering number of periodic reports that must be filed with various regulators — around 100 every month,” Ling-Vannerus said. He noted that at this time, financial institutions are moving ahead cautiously in China, as he said is the case with all European companies in the country.



Source link

Tags: all ghana newscelebrity news ghanacitinewsroomcurrent affairs issues in ghanadaily graphic jobsdaily graphic today page 30daily guide newspaper headlines todayentertainment news in ghanagh webghana electionsghana government factsghana news sitesghana news todayghana news today latestghana political historyghana political partiesghana political systemhot gossip in gh todayhttp peace fm sports newsjoy news liveKeywordlatest news in ghanamodern ghana musicmodern ghana sportsmodern ghana tvmost educated president in ghanamyjoyonline latest news for todaymyjoyonline news latestmyjoyonline news todaymyjoyonline sportsndc congress 2018 resultsndc elections resultsndc parliamentary primaries 2019ndc presidential primaries 2018peace fm contactpeace fm kokrokoopeace fm online entertainment today newspeacefmonlinepeacefmonline latest news todaypeacefmonline picturespolitical issues in ghanapolitical newspolitics in ghana pdfpulse ghanastarrfmonlinethe most learned president in ghanatrending political issueswho is the head of the legislature in ghanawww myjoyonline com politicswww peacefmonline com politicsyen news educationyen.com downloadyen.com.gh news today
Previous Post

Politics takes front seat in Kerala even as covid-19 infections rage on

Next Post

Arrest and Prosecute NPP members who flouted nose masks order during primaries

Next Post
Supreme Court Verdict on Amidu’s eligibility problematic

Arrest and Prosecute NPP members who flouted nose masks order during primaries

Glenmark says FabiFlu reduces viral load by 4 days, treats mild to moderate COVID-19

Glenmark says FabiFlu reduces viral load by 4 days, treats mild to moderate COVID-19

UK politics live: latest on Reading terror attack reaction and coronavirus measures | Politics

Advertisement

Recent News

Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

February 24, 2021
0
I’ll fight Galamsey without partisanship

I’ll fight Galamsey without partisanship

February 24, 2021
0
End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

End of the line: How Canberra’s political parties learned to love the ACT’s light rail network

February 24, 2021
0
Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

Ghana and Côte d’Ivoire To Collaborate On Cocoa Security Along Common Border

February 24, 2021
0
How Political Values and Social Influence Drive Polarization

How Political Values and Social Influence Drive Polarization

February 24, 2021
0
Serious Email scandal hits Nana Konadu Rawlings; daughter Yaa Asantewaa and Siidi’s name pop up

Serious Email scandal hits Nana Konadu Rawlings; daughter Yaa Asantewaa and Siidi’s name pop up

February 24, 2021
0
Is Political Discrimination In The Workplace Legal?

Is Political Discrimination In The Workplace Legal?

February 24, 2021
0
ADVERTISEMENT

About Us

Welcome to Ghanatoday.net. Your premium website which brings you all the news from different Ghanaian news platforms. We appreciate all the sites which have contributed immensely to make this website a possibility.

Browse by Category

  • Africa
  • Business
  • Entertainment
  • Lifestyle
  • News
  • Politics
  • Videos
  • Viral News

Recent News

Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

Weinberg Workgroup on Harassment, Sexual Assault and Misogyny in NJ Politics to Host Public Zoom Meeting

February 24, 2021
I’ll fight Galamsey without partisanship

I’ll fight Galamsey without partisanship

February 24, 2021

Copyright © 2019 Ghanatoday.net. All rights reserved

No Result
View All Result
  • Home
  • News
  • Politics
  • Entertainment
  • Lifestyle
  • Africa
  • Business
  • Viral News
  • Videos

Copyright © 2019 Ghanatoday.net. All rights reserved

Social Media Auto Publish Powered By : XYZScripts.com
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.