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TOKYO -- Mitsui will invest roughly 84 billion yen ($560 million) to develop a gas field in southern Vietnam under a project led by the Southeast Asian nation's state oil company, the Japanese trading house announced Friday.
BOAO, China -- Investing in China is investing in the future, a senior Communist Party official told delegates to the international Boao Forum for Asia during the keynote speech at the opening ceremony here on Thursday.
Standard Chartered CEO Bill Winters met with the head of China's foreign exchange regulator on Monday, a month after the bank suspended new investments by its clients in the country into offshore products via a quota-based channel.Winters exchanged views with Zhu Hexin, the head of China's State Administration of Foreign Exchange (SAFE), on China's financial opening up and the establishment of a treasury center, among other topics, according to a statement from the regulator issued late on Monday.Last month, the London-headquartered bank said in a client note that it would not take new subscriptions into offshore-domiciled funds sold via China's qualified domestic institutional investor (QDII) program, governed by SAFE.StanChart cited "commercial reasons" for the suspension.Analysts, however, say the suspension was probably because StanChart's QDII quota capacity may have been reached given a surge in demand by Chinese investors to invest offshore via the QDII program.It was unclear if Winters and Zhu discussed quota issuance.Separately, StanChart said in a statement that its fully-owned investment banking unit, Standard Chartered Securities China, commenced operations from Friday last week, the latest global financial firm to take advantage of the opening up of China's securities brokerage sector."We have confidence in China's continued financial sector opening and economic transition," Winters said."The inauguration of SCSCL will enhance Standard Chartered's ability to serve clients domestically and internationally, deepening and diversifying our capabilities in China".StanChart started hiring staff in China since 2023 as it geared up to launch the investment banking unit targeting niche bond deals, chairman of the
China Chengtong Holding Group, the state-owned capital management firm, issued a 1 billion yuan ($139 million) 30-year bond on Wednesday. This is the first ultra-long-term credit debt issued in recent years.
China pledged on Monday to treat foreign companies the same way as domestic peers in a bid to attract more foreign investment, cooperation and expertise, as Asia's largest economy moves to upgrade and strengthen its industrial chains.
SHANGHAI -- China is expanding semiconductor supply chain investments to sustain double-digit growth in homegrown chip production capacity, focusing on mature technology while eyeing a massive new national fund to support further advances.
HONG KONG -- U.S. investment manager AllianceBernstein started cutting jobs in late February amid plans to form joint ventures with French bank Societe Generale.
Japan's government pension fund on Tuesday said it is requesting information on "illiquidity assets" such as bitcoin, as part of research into potential new investments.