China

As an important instrument for infrastructure financing, Public-Private Partnerships (PPPs) have been widely utilised by the Chinese government. China Finance Review International (CFRI) brings you an article titled “Determinants for the Desirability of Public-Private Partnership Mode in Infrastructure Development”, which examines the factors that influence the success and failure of PPP projects in China. With nearly 14,000 PPP projects proposed between 2009 and 2022, representing over 20 trillion yuan in investment, the study addresses growing concerns about local government implicit debt and the need for more sustainable partnership models. Methodology and Scope Using a manually collected dataset of over 12,000 PPP projects from 2019 to 2022, the author analyse...

Starbucks says it is selling a 60% stake in its business in China as part of a $4bn (£3.04bn) deal with investment firm Boyu Capital. Under the agreement, the world's biggest coffee chain will have a 40% stake in the Chinese retail operation and retain ownership of the Starbucks brand there. Starbucks entered Chinain 1999 and the country is now its second-largest market outside the US, but has struggled in recent years with the rise of homegrown brands like Luckin Coffee. The business will continue to be headquartered in Shanghai and will own and operate 8,000 outlets in the Chinese market, with plans to grow to as many as 20,000 locations, the firm said on Monday. The partnership with Boyu is a "significant milestone" and signals its plans for long-term growth in Chi...

China's financial regulator plans to support Chinese banks and insurers to use Hong Kong as a hub for international financial services. Zhou Liang, vice minister of the National Financial Regulatory Administration, announced improved regulatory cooperation to mitigate cross-border financial risks between the mainland and Hong Kong. China's financial regulator is set to enhance support for Chinese banks and insurers, leveraging Hong Kong as a gateway for expanding financial services to Chinese enterprises venturing overseas. The announcement was made by Zhou Liang, the vice minister of the National Financial Regulatory Administration, on Tuesday. In an effort to address financial challenges that could arise from cross-border business, the regulator is committed to improving the f...

Swathes of Asia’s financial systems are vulnerable to potential disruption from quantum computing technology, including those hosting secure transactions, industry executives have warned. Only a handful of major economies in the region, such as China, Japan, South Korea and Singapore, have embarked on strategies to safeguard their systems, but most financial institutions across the region are vulnerable to quantum attacks because they are ill prepared, experts say. The threat looms even as digital wallets and real-time payment systems are widely being used and deeply integrated into the financial systems. Quantum computing is a new branch of processing which can solve complex problems within minutes or hours that might take a classical computer thousands of years to crack. Wh...

A decision by Chinese policymakers this month to not include electric vehicles among the strategic industries for the country’s latest five-year development plan is a clear signal that Beijing is about to leave behind an era of lucrative subsidies for the sector, experts say. China published its five-year development plan for 2026-2030 on Tuesday and for the first time in 15 years, new energy vehicles (NEVs) were not included in its list of strategic emerging industries. NEVs comprise EVs, plug-in hybrids, and fuel-cell vehicles. Analysts say the move is evidence that Beijing considers the industry to be mature and no longer requires the same level of financial support, leaving its development up to market forces. “It’s an official acknowledgement that electric vehicles no lo...

Amid deepening global divides and economic uncertainty, the United Nations called for stronger multilateral cooperation and sweeping reforms to global financial and governance systems, emphasising the need for a “networked, multipolar world” where equity and inclusion guide decision-making. Addressing a joint summit between the UN and Southeast Asian nations in Kuala Lumpur on Monday, Secretary-General António Guterres described the region as “a beacon of cooperation” and a vital pillar of global stability. With Timor-Leste’s accession, he said, the collective spirit of the regional organization known as ASEAN had “grown stronger,” making the bloc an essential partner in shaping “a more balanced and interlinked world.” The Association of Southeast Asian Nations...