World

Chinese investment in Australia at five-year low

SYDNEY Chinese investment in Australia is at its lowest level in five years, sparking calls for the newly re-elected government to fix its rocky relationship with Beijing.

After hitting a peak of A$15.8 billion (S$15 billion) in 2016, Chinese firms invested A$4.8 billion in the country last year, the Australian National University said.

Researchers said the amount of cash piled into Australia had been "broadly in line" with China's global activities, except for when it fell 50 per cent from A$9.6 billion in 2017.

"Chinese investment flows offshore have fallen generally in the past year but they have fallen more in Australia," report co-author Peter Drysdale told The Australian newspaper."It is a warning sign that we have to get the relationship back on track. Quite a lot of work has to be done to improve the relationship." - AFP

HK aims to raise up to US$1b in green bonds

HONG KONG Hong Kong is looking to raise between US$500 million (S$690 million) and US$1 billion in five-year green bonds as it looks to establish itself as a centre for green finance.

Hong Kong is marketing a five-year US dollar-denominated green bond yesterday, according to a term sheet seen by Reuters. It is targeting a size of between US$500 million and US$1 billion, said a message sent to investors.

The proceeds from green bonds get earmarked for investment in environmentally friendly projects. Green bonds form a small portion of the global bond market but are expected to gain in size.

Yesterday's bond is the first to be issued under Hong Kong's HK$100 billion (S$17.6 billion) green bond programme to fund projects around clean transportation, air quality improvement and green buildings. - REUTERS

BUSINESS & FINANCE