Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning (Mon - Thu 8 to 9 a.m.; Fri 8 to 8:30 a.m.) on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at firstname.lastname@example.org, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
China’s State Council has unveiled a detailed plan for wide-ranging reforms for Shenzhen. The blueprint calls for the city to integrate its economy and culture with Hong Kong and Macau and to rank among the best in the world by 2025 in economic strength, competitiveness and innovation.
The US Commerce Department has granted a temporary reprieve for Chinese telecoms firm Huawei to buy components from US firms for another 90 days. However, Commerce Secretary Wilbur Ross added a further 46 Huawei affiliates to the US export blacklist.
Facebook and Twitter say they have shut down hundreds of Chinese state-backed disinformation campaigns on their platforms that sought to “sow political discord in Hong Kong”. Twitter said it has discovered 936 accounts originating from China, that were “deliberately and specifically trying to undermine the legitimacy and political positions of the protest movement on the ground”.
Joining us on today’s Money Talk to discuss the Hong Kong economy and the government’s latest stimulus plan is James Lau, the Secretary for Financial Services and the Treasury in the HKSAR Government. That’s after 8:30. Before that, reviewing the latest business and finance headlines, are Connie Bolland at Economic Research Analysis and Pete Sweeney from Reuters Breakingviews. Providing the view from Japan is Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute.
20/08/2019 - 8:08 Business & Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, comments that it’s much easier for Shenzhen to build a technology centre rather than a financial centre, which requires vital ingredients such as the free flow of capital and also credibility that takes time to establish.
Pete Sweeney, Asia Editor from Reuters Breakingviews, comments that the 90-day extension for Huawei reveals how much Chinese companies are dependent on American technology, without which their overseas sales will decline sharply.
20/08/2019 - 8:25 View from Japan
Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute, says that Japan has to follow the US and Europe if their central banks decide to ease monetary policy, but Prof. Yoshino also points out that having too loose a monetary policy will have a negative impact in the coming years and may also lead to a big bubble in the Asian economies.
20/08/2019 - 8:34 HK's Multi-billion Dollar Relief Measures & Subsidies
Hong Kong’s Secretary for Financial Services and the Treasury, James Lau, says that the SAR government is seriously concerned about the slowdown in the local and global economy, and has introduced HK$19bn of relief measures. Talking about the ongoing protests, Mr. Lau says that the government is looking forward to engaging in open-minded dialogue with the public after disruptive actions such as blocking government buildings and disrupting traffic have been stopped.
Hong Kong is bracing for its first general strike in more than 50 years today as the territory’s political crisis worsens. A ninth consecutive weekend of protests culminated in further violent confrontations with the police and the demonstrations are spreading to new neighbourhoods and are dragging more sectors of society into the conflict.
China has warned the country will retaliate against the US if it carries out Donald Trump’s threat to impose new tariffs on a further US$300bn of Chinese imports. The mainland’s foreign ministry suggested the new tariffs could scupper plans for another round of trade talks in Washington next month.
On today’s Money Talk are Alex Wong from Ample Capital and David Roche of Independent Strategy. Providing the view from the mainland is Brock Silvers at Kaiyuan Capital. After 8:30 we discuss the topic of financial inclusion with China Strategist Andrew Leung, Stephen Wong from HKU SPACE, and Lotte Schou-Zibell from the Asian Development Bank.
05/08/2019 - 8:09 Business & Market Discussions
Alex Wong, Director of Asset Management at Ample Capital, says that Hong Kong is entering a recession, with a drop in retail sales and tourists number, and investors are considering stopping investing in HK.
David Roche, President and Global Strategist of Independent Strategy, points out that the manufacturing sector is very weak globally, and the world economy is giving a worrying picture for the stock markets.
05/08/2019 - 8:24 View from China
05/08/2019 - 8:36 Monday Debate: Financial Inclusion
Andrew Leung, International and Independent China Strategist, says that China has been at the forefront of e-commerce and mobile payments on the mainland.
Stephen Wong, Adjunct Associate Professor at the Institute of China Business of HKU SPACE, comments that the development of Fintech such as virtual banks has moved financial inclusion around the world to the next level.
Lotte Schou-Zibell, Chief of Finance Sector Group, Sustainable Development and Climate Change Department at the Asian Development Bank, says that Fintech is not the right solution for some remote and rural areas in Asia that do not have internet and a stable supply of electricity.