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Mar. 31 – Here is how China has been reported across the region over the past week.
Asia To See Increased, But Lower Value M&A Deals This Year
M&A activity in Asia is expected to increase over last year as more companies said they were looking to expand in the face of healthy valuations. In a PricewaterhouseCoopers survey, 42 per cent of the 215 Asian financial institutions polled forecast that they will do a deal this year, up from 38 per cent in last year’s survey (2point6billion.com)
Patriotic Publications A Hot Topic In China
A new collection of short stories calling for the rise of China has been a topic of debate recently. The collaborative effort of five Chinese authors, “Unhappy China” was released on March 13 and has climbed up to the best-sellers list and quickly selling out its initial 270,000 copies. “From looking at the history of human civilization, we are most qualified to lead this world; Westerners should be second,” writes one author in the book. (Communist Tax Lawyer)
Vietnam’s Economy Grows By 3.1 Percent
The Southeast Asian country’s economy grew by 3.1 percent during the first quarter of the year compared the same period last year as companies delay or cut investment plans and manufacturing. The figure is the weakest on record since 1999 for which quarterly figures are available, reports Bui Ba Cuong, director of the office’s department of national accounts. (Vietnam Briefing)
Foreign Investors Can Now Deduct Tax On Salaries Paid In India
The Supreme Court of India has ruled that a foreign company registered and situated abroad is liable to deduct tax on salary paid in the home country to their employees working in India, the Economic Times reported. Until now, the ruling held that TDS provisions could not extend beyond borders. (India Briefing)
Are Asian Economies Bottoming Out?
A recent rise in shipments for Taiwan and Singapore and a growth in exports for Vietnam, South Korea and Thailand have lead analysts to think the worst for Asia might be over. The decline in exports of most Asian nations eased in February as regional trade resuscitated for South Korea, Taiwan, Singapore and Vietnam. (2point6billion.com)
China Irked By Pentagon Report
The Pentagon was critical of China’s growing military power in its annual report to the U.S. Congress, claiming it is altering the military balance in Asia. The U.S. Department of Defense criticized China’s development of “disruptive military technologies,” including “nuclear, space, and cyber warfare.” (Communist Tax Lawyer)
