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IMF Working Papers-China's Local Government Bond Market
September 28, 2018--Summary:
Local governments play a significant role in China's public finance and fiscal operations. The size of local government debt has grown rapidly over the past years, exceeding the stock of sovereign debt in China. How does this development compare to other countries and what policies can foster the sound development of the bond markets?
This paper finds that despite its rapid growth, the local government bond market is still underdeveloped. Severe impediments-low liquidity, weak credit discipline, structural fiscal deficit in local governments-have become more visible. Reforms to develop a sound local government bond market should harmonize tax and regulations, build liquidity, and advance fiscal reforms to tighten off-budget borrowing and address intergovernmental imbalances.
view the IMF Working Papers-China's Local Government Bond Market
Source: IMF
China's Belt & Road Initiative
September 25, 2018--Although Beijing insists that its Belt and Road Initiative has no geopolitical motives, the project has been at the centre of an increasing number of political controversies, foreign and domestic.
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Source: FT.com
Higher Productivity is Key to Prosperous Philippines-World Bank
September 24, 2018--Sustaining higher productivity growth will be key for the Philippines to achieve its vision of becoming a prosperous society free of poverty by 2040, according to a new World Bank study released here today.
Titled Growth and Productivity in the Philippines: Winning the Future, the report finds that the more efficiently the country can use its resources (human capital, natural resources, machines, technology, knowledge, among others) the better chances it will have to generate high-paying jobs and reduce poverty. Productivity growth is particularly important for the agriculture sector where many poor families derive their incomes, the report adds.
A Glass Half Full: The Promise of Regional Trade in South Asia, estimates India's potential trade in goods with South Asia at $62 billion against its actual trade of $19 billion,which is a mere 3 percent of its global trade and about $43 billion below its potential. view the World Bank report A Glass Half Full : The Promise of Regional Trade in South Asia September 2018 Indonesia Economic Quarterly: Urbanization for All
The Rupiah depreciated 4.8 percent against the U.S. dollar in the second quarter, with an additional 2.7 percent in July and August. view the Indonesia Economic Quarterly-Urbanization for all
September 2018 The Digital Economy: Unlocking its Full Potential to Drive Malaysia's Development view the World Bank Malaysia's Digital Economy-A NEW DRIVER OF DEVELOPMENT report The story of Viet Nam's economic miracle view more SGX reports market statistics for August 2018 view more ASX Investment Products Monthly Update-August 2018 view ASX Postpones Roll-Out of Blockchain Settlement System view more If you are looking for a particuliar article and can not find it, please feel free to contact us
All countries in the region stand to gain from increasing trade cooperation, the report says. For example, for India, deeper regional trade and connectivity can reduce the isolation of Northeast India, give Indian firms better access to markets in South Asia and East Asia, and allow it to substitute fossil fuels by cleaner hydropower from Nepal and Bhutan. I
Source: World Bank
September 20, 2018--
The current account deficit widened to a four-quarter rolling sum of 2.3 percent of GDP through the second quarter, the largest in three years. This was contributed by rising crude oil prices and continued growth in equipment investment, leading total nominal imports growing faster than exports, and a consequent narrowing of the goods trade surplus.
Source: World Bank
September 12, 2018--In its journey towards achieving greater economic progress, Malaysia could take further steps to unlock the full potential of its digital economy says a new World Bank report launched here today. The report, 'Malaysia's Digital Economy: A New Driver of Development,' summarizes the work of a program managed by the World Bank Group Global Knowledge and Research Hub in Malaysia in collaboration with the Malaysian Ministry of Finance and other partners.
The report assesses available policy options to boost the impact of the digital economy on economic growth, job creation, innovation and public revenues.
Source: World Bank
September 11, 2018--Walking around in Ha Noi, Viet Nam's capital, you can feel boundless energy everywhere. People whiz by on scooters, buy and sell everything from phones to food in the countless small shops, and run to and fro to get to school or work. Viet Nam is young, growing, and anything feels possible.
It wasn't always thus. A mere 30 years ago, the country was one of the poorest in the world. How did this southeast Asian nation grow to become a middle-income country?
Source: World Economic Forum (WEF)
September 10, 2018--August saw listing of Nikko AM SGD Investment Grade Corporate Bond ETF, first ETF to offer affordable access to basket of SGD-denominated corporate bonds
SGX USD/CNH Futures volume post m-o-m gain for fourth straight month
Securities
Total Securities market turnover value was at S$23.5 billion, down 4% month-on-month (m-o-m) and down 9% year-on-year (y-o-y), over 21 trading days. There were 22 trading days in July 2018 and 22 in August 2017.
Securities daily average value (SDAV) was S$1.12 billion, up 0.3% m-o-m and down 5% y-o-y.
Market turnover value of Exchange Traded Funds (ETFs) was S$379 million, up 103% m-o-m and up 72% y-o-y.
Source: SGX
September 10, 2018--August 2018 saw strong growth in all Investment Product categories. Assets under Management in ETPs (up 3.7%), mFunds (up 5.7%), Listed Investment Entities (up 0.6%), A-REITs (up 1.9%) and Infrastructure Funds (up 3.0%) on a month on month basis.
Total Assets under Management of all Investment Products increased by 2.3% over the month of August 2018.
Source: ASX
September 4, 2018--The Australian Securities Exchange (ASX) has pushed back the launch of a blockchain replacement for the decades-old CHESS clearing and settlement system until the second quarter of 2021.
The ASX published a new report on Tuesday in response to public feedback on a consultation paper it published in April for the new system. The company expected at the time the new system would go live by the end of 2020.
Source: coindesk.com
