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Xi stresses Party’s “absolute leadership” over political, legal work

January 23, 2018

BEIJING Chinese President Xi Jinping has stressed the Party's absolute leadership over political and legal work. Xinhua, China’s State newsagency, reports that Xi, who is also General Secretary of the Communist Party of China (CPC) Central Committee and Chairman of the Central Military Commission, made the statement in an instruction read at the central conference on political and legal work which opened in Beijing yesterday.

Singapore International Commercial Court to rule on international commercial arbitration

January 21, 2018

SINGAPORE - The Singapore Parliament has passed amendments relating to the Singapore International Commercial Court (SICC). The Supreme Court of Judicature (Amendment) Bill (No. 47/2017) principally aims to: (1) clarify the extent of the SICC's jurisdiction; and (2) streamline the SICC's procedures, says a Client Alert from lawyers BakerMcKenzie.

Xi Thought to be included in China’s Constitution?

January 22, 2018

BEIJING – China’s State newsagency is reporting that the Communist Party of China (CPC) Central Committee on Friday proposed writing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era into the Constitution.

 

 Major theoretical achievements, principles and policies adopted at the 19th CPC National Congress should be incorporated into a revision to the Constitution, according to a communique issued after the second plenary session of the 19th CPC Central Committee held in Beijing Friday. A proposal from the CPC Central Committee on the revision was adopted at the meeting, Xinhua said.

Tighter monetary conditions, strong Won, to see BOK keep rates on hold in H1

January 16, 2018

SEOUL - The Korean Won was the best performing currency in Asia in 2017 – rising by 13% versus the US dolla.r Rapid export growth, a weaker USD, and fear of being labelled a currency manipulator by US President Trump were key reasons that the Bank of Korea (BOK) stayed on the sideline and allowed the Won to outperform in 2017, says the French bank, Natixis, adding that it does not expect such strength is to last, for two reasons:

One to watch: China’s draft Export Control Law likely to be enacted in 2018

January 17, 2018

HONG KONG – China’s Ministry of Commerce (MOFCOM) in June 2017 published a  draft Export Control Law (ECL) for public comment. In a Client Alert, lawyers Baker McKenzie says that, if enacted, the ECL will be the first set of comprehensive and unified export control legislation in China, which is aimed at upgrading the country's existing regime of various administrative regulations and rules. BM says the ECL is widely expected to be introduced in the National People's Congress within 2018.

China opposes Vancouver meeting on Korean Peninsula issue

January 17, 2018

BEIJING - China on Tuesday again voiced opposition to a gathering in Vancouver of foreign ministers from 20 countries on security and stability on the Korean Peninsula. Canada and the United States will co-host the meeting to discuss measures to exert maximum diplomatic as well as economic pressures on North Korea to force it to end its nuclear and missile programmes.

Asia-Pacific Sovereign rating trends for 2018 published by S&P

January 12, 2018

SINGAPORE - Most Asia-Pacific sovereign ratings are likely to remain unchanged in the next one to two years, S&P Global Ratings said in a report released today. "All but two of our sovereign ratings in the region currently record a stable outlook,” S&P said. “Although economic growth rates this year are likely to be lower than 2017's, our current real GDP forecasts are mostly stronger than our 2018 growth forecasts made a year earlier.

Vietnam surpassed its major economic goals in 2017, GDP target for 2018 at 6.5%

January 11, 2018

HO CHI MINH CITY - Vietnam fulfilled and surpassed major economic goals in 2017 with its GDP growth rate among the highest globally. The Government’s target of 6.5-6.7% GDP growth for 2018 looks feasible as the stable macro-economic environment will expectedly continue into next year, according to Vietnam Asset Management in its monthly report.

Macron's visit to China ‘possibly changing the anchor of EU-China relations’

January 10, 2018

HONG KONG – French President Macron’s first state visit to China is not only relevant for France’s economic and political agenda but also for that of Europe, says Alicia Garcia Herrero, Chief Economist Asia Pacific for Natixis. She says Macron and China’s President Xi Jinping can be expected to increase the frequency of their State visits as well as bilateral exchanges to an extent that France might become China’s most relevant partner in Continental Europe.

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