BEIJING – Announcements made at the 19th National Congress of the Communist Party in Beijing have significant implications for global trade, investment and security. The following reports touch on some key elements, including Socialism with Chinese Characteristics; China’s anti-graft campaign; Proposed establishment of Communist Party cells within foreign firms; a negative list for market access in China nationwide; and plans to deepen financial reforms.
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NEW DELHI - As GDP per capita increases, India’s affluent market will drive demand for best-in line drug delivery devices and reward innovations in the years to come, says GlobalData in a new report which says the Indian market, which was worth US$411 million in 2016, is on course to touch US$510 million by 2023, clocking a CAGR of 3.1% from 2016 to 2023.
MELBOURNE - In the second edition of its Asia Economic Outlook, ANZ Bank says what appears to be a remarkably resilient export cycle is unfolding on a regional level. “The upturn in the export cycle has lasted for much longer than we had initially anticipated, leading to an upgrade in our overall growth forecasts for some countries,” ANZ says.
HONG KONG - CASBAA, a trade body serving Asia’s Pay-TV industry, has formed a Coalition Against Piracy to co-ordinate industry resources in the fight against rampant content theft. Neil Gane, an industry veteran in content protection, has been appointed General Manager. He will direct CAP enforcement actions to disrupt, diminish and dismantle pirate enterprises across the region.
BEIJING - China has put two vigorous graft-busters into top positions at the country’s banking and insurance regulatory commissions — a strong message that upgraded anti-corruption investigations can be expected throughout China’s financial system.
BEIJING - China will reinforce regulations to monitor public-private partnership (PPP) projects as part of its efforts to prevent illegal borrowing by local governments, said a senior official with the nation's top economic regulator.
SHANGHAI – A Shanghai Daily report quotes sources familiar with the matter as saying advisers to China’s Sinopec have offered its oil assets in Argentina to about a dozen potential suitors as losses and labour headaches prompt Asia’s largest refiner to pull out.
TAIPEI - In her National Day address, Taiwan’s President, Tsai Ing-wen, has elaborated on her Administration’s efforts to fulfil the Government’s commitments and to accelerate reform, safeguard Taiwan’s democracy and freedom, and “find Taiwan’s place in the new international order”.
BEIJING - The International Monetary Fund (IMF) has raised its forecast for China's economic growth in 2017 and 2018, citing a stronger-than-expected performance in the first half of the year and continuous policy support. In its latest World Economic Outlook, the IMF tips the Chinese economy to grow 6.8% this year and 6.5% next year, both 0.1% higher than July’s forecast.
HONG KONG – The global asset manager Natixis believes capitalism in OECD countries is looking for an abnormally high return on capital (return on equity) relative to the level of interest rates. In principle, and that this may have four consequences:
GENEVA – Data for global air freight markets released by IATA shows that demand, measured in freight tonne kilometres (FTKs), increased by 12.1% in August 2017, compared to the same period a year ago. This was the fifth time in six months of double-digit gains on the previous year’s performance.
HONG KONG - The year-to-date Chinese offshore bond issuance till August 2017 has already surpassed 2016, and while monthly growth fell 56% in August, this is only due to seasonality, says global asset manager Natixis.
HANOI - A draft of Vietnam’s new Law on Special Administrative - Economic Zones has been posted on the Government Portal for public review and commentary. It outlines the foundation for economic zones (SAEZs) located in Van Don (Quang Ninh Province), North Van Phong (Khanh Hoa Province) and Phu Quoc Island (Kien Giang Province).
SINGAPORE - Asia-Pacific's economic picture looks broadly positive after the third quarter, according to S&P Global Ratings. Among the largest economies, China and Japan show better-than-expected growth momentum, although they have differing risk profiles. But North Korea remains an active risk.
MELBOURNE - CMA CGM has reached an agreement to purchase through its subsidiary, ANL, the majority of the shares in SOFRANA Unilines, a key player in the Pacific Islands regional maritime trade.
SEOUL – Declaring that the current security situation on the Korean Peninsula “is more severe than at any other time”, South Korea’s President, Moon Jae-in, has urged North Korea to give up its nuclear weapons and to return to the same state as relationships were on October 4, 2007, when an inter-Korean declaration was signed.