The Daily Brief for Wednesday, 22 February 2017

The DailyBrief

Wednesday February 22, 2017

China fintech surge: Investments in venture capital-backed Chinese financial technology companies hit a record high in 2016, bucking a global decline in such spending. Johan Nylander reports on how this record setting pace is yet another sign that the country’s digital financial services industry is undergoing explosive development, especially in mobile payments.

Japan’s new casinos: With Tokyo passing legislation to allow construction of casino resorts, western operators are re-evaluating a gaming market that could be worth more than US$25 billion a year. Peter Langan talks with Edward Tracy, the new chief executive officer of Hard Rock Japan about its endeavor to be a part of the new face of Japanese gambling.

Jail for Tsang: Hong Kong former chief executive Donald Tsang Yam-kuen was given a 20-month jail term on Wednesday for misconduct in public office, reports the Asia Times. Tsang, whose sentence was reduced by 10 months because of his service to Hong Kong and good character, said he will file an appeal.

Tinsletown in China: Hollywood’s bumpy love affair with China’s foreign film quota has received a double boost writes Russell Edwards. Not only were all three of the weekend’s top films American but industry predictions say the current limit of 34 foreign films granted access to the Chinese market per year could go up by a dozen, with foreign producers’ take on ticket sales jumping from 25% now to 40%.