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E-commerce fastest-growing retail channel through 2022

December 7, 2017

CHICAGO - Global market research company Euromonitor International has released new retailing industry data highlighting the evolution and reinvention of international retail, ranking the top-three new retail concepts across grocery, non-grocery, non-store and digital channels. Internet retailing is the fastest- growing global channel through 2022 at 73% to become a larger channel than traditional grocery retail. Within internet retailing, the food and drink category is expected to see fastest growth at 80%.

Vietnam moving to tax cross-border service providers

December 1, 2017

HO CHI MINH CITY – Vietnam has released ois first draft submission for the amendment of tax laws which may significantly impact the operation of cross-border IT service providers who have users in Vietnam, according to the global law firm Baker McKenzie.

It a research report, BM says Vietnam’s Ministry of Finance has stated that e-commerce activities and transactions are growing rapidly in Vietnam, but the current tax administration regime is unable to manage this type of business adequately and accurately for the following reasons:

U.S. officially declines to recognise China as a market economy

December 1, 2017

WASHINGTON - The United States has announced that it will support the European Union at the WTO and decline to recognise China as a market economy. The announcement added that the U.S. will continue to adopt the "non-market country" approach in its anti-dumping investigations, further straining its trade relationship with China.

A China report in Caixin said the United States added that “the evidence is overwhelming that WTO members have not surrendered their longstanding rights … to reject prices or costs that are not determined under market economy conditions.”

Singapore GDP lifts, ANZ tips 4% growth in 2018

November 24, 2017

SINGAPORE - Singapore’s Q3 GDP growth has been revised higher from its initial advanced reading. Sequential growth was revised to 8.8% q/q SAAR (from 6.3%), taking y/y growth to 5.2% (from 4.6%). Because of this, the Ministry of Trade and Industry (MTI) has upgraded its GDP growth forecast to 3-3.5% for 2017 (from 2-3% previously). For 2018, MTI is forecasting GDP growth of 1.5-3.5%.  

China to appropriate State company assets to make up pension funds gap

November 22, 2017

BEIJING - China will set aside part of the assets of State-owned enterprises to make up a shortage of money in the nation’s pension funds caused by an increasingly aging population. Some State-owned companies will transfer 10% of their stakes to the pension fund in the first stage, a document released by the State Council, China’s Cabinet, said.