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BEIJING - China’s harsh property control measures since 2010 successfully reined in real estate prices, but recent prices in most of the cities tracked have risen again following two interest rate cuts in early June and July. ANZ Bank says it believes China’s property market has bottomed, but that the rebound is still in its early stage. Monthly increases are marginal, and prices are still declining yearly. The ANZ China Property Price Index shows that momentum has picked up as more cities experience consecutive months of price increases.

SINGAPORE - Headline inflation fell to 4.0% on-year in July, below 5% for the first time since February this year and below expectations of 4.5%. This was partly due to favourable base effects, which are likely to keep inflation closer to 4% for the rest of the year, says ANZ Bank. However, inflation rose 0.2% month-on-month, up from zero. Favourable base effects also fed through to housing and transport. Year-on-year inflation rates in both these components dropped 3.3% to 6.4% and 5.4%, respectively. However, accommodation costs (the main driver of housing) still increased 0.5% m/m.

HONG KONG – The HSBC Flash China Manufacturing PMI™ for August has come in at 47.8 (49.3 in July), a nine-month low. The Flash China Manufacturing Output Index was at 47.9 (50.9 in July), a five-month low. The HSBC PMI is the earliest available indicator of manufacturing sector operating conditions in China, with the estimate typically based on approximately 85%–90% of total PMI survey responses each month. The China Flash Manufacturing PMI showed both new orders and new export orders contracting at a faster rate, with both output and input prices declining at a faster rate.

BEIJING - China plans to invest RMB2.37 trillion in major energy-saving projects during the 12th Five-Year Plan period (2011-2015), according to a document released by the State Council. The projects are expected to save an equivalent of 300 million tonnes of coal through to 2015. In a previously unveiled blueprint for energy-saving programmes, Chinese authorities have established a goal of cutting energy consumption per RMB10,000 of GDP by 16% by 2015 compared with 2010, saving 670 million metric tonnes of coal equivalent.

HONG KONG – The Hong Kong Stock Exchange (HKEx) will introduce renminbi (RMB) currency futures on September 17. The US Dollar vs Renminbi (Hong Kong) or USD/CNH* Futures contract will be the world’s first deliverable RMB Currency Futures. HKeX says USD/CNH Futures will require delivery of USD by the seller and payment of the Final Settlement Value in RMB by the buyer at maturity. The futures will be quoted in RMB per USD (for example, RMB 6.2486 per USD) and margined in RMB, with the trading and settlement fees charged in RMB.

TAIPEI - The Taiwan Government is hoping to attract more foreign companies to set up regional headquarters in its bid to position Taiwan as an Asia-Pacific regional hub. The number of regional headquarters in Taiwan is expected to double from the current 150 to 300 within three years as more foreign companies expand their presence in the country. "Most existing regional headquarters are seen as being of the 'manufacturing-type,' engaging in high-end manufacturing in Taiwan and managing operations for the Asia-Pacific region," Economics Minister Shih Yen-shiang said.

SINGAPORE - To further expand its business operations in the global market, Fuji Xerox Co., Ltd. Is to establish a new manufacturing site in the Vietnam Singapore Industrial Park at Hai Phong. Construction will begin in December 2012 and operation will start in November 2013. Total investment will be some 9 billion yen. The facility will mainly manufacture products such as digital color multifunction devices and small light-emitting diode (LED) printers, with a manufacturing capacity around two million units per year.