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  • October 3, 2014
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Results 1 - 10 of 193 for mandatory provident fund schemes authority

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  1. Business - Banking & Finance - MONITOR

    The encouraging signs behind China's record funding figures

    Posted Feb 17th 2014, 04:47am by Tom Holland

    ... behind China's record funding figures The trouble with economic statistics is that it is all too easy to see whatever you want to in the data. Take the monetary figures released by Beijing ... shadow market- and both optimists and pessimists can find evidence to support their views. Altogether, as the first chart shows, new funding measured by Beijing's "total social ...

  2. Business - Comment - MONITOR

    By avoiding a small crisis now China risks a big one in future

    Posted Jan 29th 2014, 05:02am by Tom Holland

    ... borrowers would have gone to the wall. Ultimately the state banks would have stepped in to provide funding to stronger borrowers, effectively taking the exposure back on to their balance sheets. ... shadow market investment scheme got bailed out. The rest of us should be very nervous indeed. No one quite knows who has stumped up the three billion yuan (HK$3.8 billion) needed to repay ...

  3. Business - Comment - MONITOR

    Hong Kong's wealth fund is doing a lousy job investing our money

    Posted Jan 24th 2014, 02:13am by Tom Holland

    ... investment performance is abysmal. Yesterday the Hong Kong Monetary Authority announced the Exchange Fund's results for 2013. It managed a return of just 2.7 per cent. When you consider ... Tom Holland Last year's negative real return for the Exchange Fund follows a pattern, so perhaps it’s time to call on outsiders to manage a portion of the assets HK's wealth fund ...

  4. Business - Comment - MONITOR

    It's not heresy to expect grand projects to pay for themselves

    Posted Feb 28th 2014, 01:01am by Tom Holland

    ... Tom Holland The capital market provides a ready solution, and the extra scrutiny that comes with bond issues might just spare us some white elephants It's not heresy to expect grand ... with that first. The scheme wouldn't work, say critics, because current lease-holders would oppose like fury any attempt to collect a regular land income from them. And if the government got around ...

  5. Business - Comment - MONITOR

    We don't need a Future Fund. The future is already upon us

    Posted Mar 05th 2014, 01:34am by Tom Holland

    ... Tom Holland HK government should make better use of its existing resources and assets to meet the spending needs arising from an ageing population We don't need a Future Fund ... of GDP is admirable. There is plenty of evidence from Europe that when government expenditure rises much above this level, the higher taxes or increased debts needed to fund public spending ...

  6. Business - China Business - MONITOR

    It's tough, but China must let trust company products fail

    Posted Jan 27th 2014, 04:23am by Tom Holland

    ... scheme should be allowed to fail. Come the end of the month, the Credit Equals Gold1 product was supposed to mature, returning investors their capital plus a 10 per cent yield. That's not now going to happen. China Credit Trust, which structured the product, has warned it will have difficulty making its payout. Meanwhile, the coal miner whose loans underpinned the scheme has ...

  7. Business - Comment - MONITOR

    Neither Singapore nor Hong Kong is an Iceland waiting to happen

    Posted Feb 14th 2014, 12:42am by Tom Holland

    ... It's a scary thought. In the mid-2000s Iceland's banks leveraged up aggressively, effectively turning their barren mid-Atlantic island into a giant US$150 billion hedge fund. Things went ... The government has imposed a series of administrative restrictions aimed at cooling the property market, while the Hong Kong Monetary Authority has sounded the alarm about rising levels of consumer debt ...

  8. Business - Comment - MONITOR

    Tsang's vision of Hong Kong's future is severely out of focus

    Posted Feb 27th 2014, 01:23am by Tom Holland

    ... To fund all that building, the government ring-fenced its income from land sales and lease modifications and earmarked it for spending only on capital works projects. The idea was a roaring ... income to meet welfare needs. "Land premium is too volatile to be reliable revenue to fund recurrent expenditure on the long term," he argued. "More significantly … after paying ...

  9. Business - Comment - MONITOR

    Unjust sense of entitlement, or a bargain for the public purse?

    Posted Nov 12th 2012, 12:00am by Tom Holland

    ... provided almost HK$33 billion in direct funding for those schools, which works out at a cost to the public purse per pupil of HK$50,000. In other words, the ESF is a relative bargain, costing ... in Tuen Mun, operating under a franchise from Harrow School in London. To fund construction work, the government has provided it with an interest free loan of HK$273 million. Assuming the company ...

  10. Business - Comment - MONITOR

    A healthy China would set interest rates at 10 per cent

    Posted Jan 05th 2014, 11:49pm by Tom Holland

    ... enough to push interest rates sharply higher. This time, as in the last big squeeze in June, the authorities provided enough liquidity to bring rates down again. But the central bank only ... into the system to bring rates back down again and restore calm (see the first chart). But in all the reams of commentary generated by the initial panic and the subsequent relief when the authorities ...




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