Author: Staff Writer

In a speech on 2 September at the opening of the China International Fair for Trade in Services (CIFTIS), Chinese President Xi Jinping said that China will open a new stock exchange in Beijing to serve “innovative” small and medium enterprises (SMEs). Xi did not say when the new bourse would be established, but in a statement issued after the speech the China Securities Regulatory Commission (CSRC) said its leadership was “excited” at the prospect, would study the president’s proposal in depth and resolutely implement it, adding that “small and medium-sized enterprises can do great things.” It explained that the…

A new report from Westpac has revealed that coronavirus restrictions, combined with soaring house prices and deteriorating affordability, has pushed the Australian housing market into “tricky territory.” Westpac’s Quarterly Housing Pulse, released on 24 August, has revealed that Australians’ plans to buy a house have fallen to the second-lowest point since 2010. The report indicated that the property market will continue to lose momentum while lockdown restrictions were in place but should ‘snap back’ to more bullish conditions once restrictions are eased. The report suggests that while COVID-19 related restrictions have had some impact, higher prices and declining buyer sentiment…