Archive for August, 2010
Citibank offshore accounts available soon in China
Monday, August 16th, 2010Sinoinvest Consulting is happy to announce that it has become a partner with Citibank China and will be offering to its clients both personal and business offshore accounts. Offshore business accounts will be available for clients with companies registered out of China (Hong Kong, BVI, Seychelles etc.). Details will be posted later on our blog and through our newsletter.
Hong Kong ranks 4th-largest global FDI recipient
Wednesday, August 4th, 2010Hong Kong was the world’s fourth-largest Foreign Direct Investment (FDI) recipient in 2009, according to the World Investment Report 2010 (WIR) released by the United Nations Conference on Trade and Development (UNCTAD) on July 23. This marks the first time that Hong Kong has attained fourth place in the global rankings and represents a jump from its ninth position in 2008.
For the 12th consecutive year, Hong Kong continues to be the second-largest FDI recipient in Asia, after mainland China.
Although the global financial and economic crisis drove global FDI inflows down by 37% in 2009 compared with 2008, the impact on Asia was less profound. The US$48.4 billion FDI inflows to Hong Kong, for example, represented a 19% decrease. Hong Kong’s share of FDI inflows into Asia held up at about 21% in 2009, similar to 2008.
Looking ahead, the WIR 2010 provided a glimpse of the global economic recovery picture, highlighting Asia’s rapid recovery in FDI flows compared with the more gradual improvement in global numbers. For example, in the first quarter of 2010, FDI inflows to Hong Kong, amounted to US$20 billion, representing a significant increase of 72% compared with the same quarter last year.
