SINGAPORE - While Asia-Pacific economies have started 2017 on a solid note, a number of significant political developments in the region's Big Three economies will shape the baseline and risk scenarios this year and beyond, says ratings agency Standard and Poor’s, pointing to China's National People's Congress in mid-March, the Japanese Prime Minister's nomination to a third term as party head, and Prime Minister Modi’s victory in a key State election.
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HONG KONG - China’s macro economy remained resilient in February after a strong start of 2017. Specifically, the Caixin manufacturing PMI expanded at almost its fastest rate in four years. Other business indicators and external indicators also climbed significantly.
BEIJING - China is stepping up financial support for the manufacturing sector as it encourages companies to upgrade their technology and tries to channel more funding away from speculative activities into the real economy.
BEIJING - A large-scale, independent survey from the Cheung Kong Graduate School of Business (CKGSB) in Beijing has shed new light on the current state of the Chinese economy. The most prominent change revealed in the survey of some 2,000 companies in China's industrial sector was a significant rise in product prices in Q4 2016, with production costs seen as the main driving factor.
MUMBAI – A group of scientists at the Bhabba Atomic Research Centre have developed a 12-channel ECG (electrocardiogram) machine which is the smallest of its kind and offers a low-cost, affordable health solution for the rural masses of India.
BEIJING - A five-year investment frenzy that saw billions of dollars flow between China and Los Angeles has hit a sudden rough patch, with derailment of three major cross-border tie-ups over the last month. Two of these are seeing Chinese investors get cold feet over billion-dollar Hollywood-production tie-ups.
SHANGHAI - Profits at China’s major industrial companies rallied in the first two months of this year to pass the RMB 1 trillion (USD145 billion) mark for the first time on rising commodity prices. Industrial profits surged 31.5% on-year in January and February combined — the fastest pace in nearly six years — to RMB 1.02 trillion, the National Bureau of Statistics said.
TOKYO - Positive economic momentum in Japan is unlikely to be sustained beyond 2018, with stagnation in productivity growth continuing. Global asset manager, Natixis, says this is the main reason behind disappointingly low wage increases, and that drastic labour market reform is needed to increase productivity.
HONG KONG - The potential impact of the new US Administration's likely protectionist trade tax policies on Asia-Pacific exports, business activity, and issuer revenues has become the top credit risk for Asia-Pacific, according to S&P Global Ratings. It says the risk of the Trump Administration adopting a protectionist trade stance is “high and increasing”.
BEIJING - Chinese companies are actively seeking mature technologies in Israel to bring to China to develop high-return businesses, according to the Chairman of Hangzhou Wahaha Group Co Ltd., Zong Qinghou. The Chairman of China's largest beverage producer said Israel's high-tech companies could find a huge market as well as funding in China.
SINGAPORE – ANZ Bank believes that Asia’s two year trade recession is finally behind us, but says the building blocks for a full-bodied recovery that encompasses all dimensions of growth, including consumption and investment, are yet to fall in place.
XIAMEN - DHL eCommerce, a division of Deutsche Post DHL Group, is to further increase its presence in South China through the introduction of e-commerce logistics services in Fujian province. To meet the increasing demand, the company also announced expansion of its Shenzhen and Hong Kong distribution centres to manage up to 81 million shipments a year.
BANGKOK - With the e-commerce industry growing quickly in Thailand, the Central Committee on Prices of Goods and Services at the Ministry of Commerce has gazetted new regulations covering requirements for the display of pricing and any add-on expenses for all online offerings.
MELBOURNE - Australia Post has joined an initiative with Alibaba, the world’s biggest eCommerce company, and the Australian natural health company, Blackmores, to help combat the rise of counterfeit food being sold across China. Professional services firm PwC is an adviser to the project.
HONG KONG – The Hong Kong Stock Exchange will introduce five-year China Ministry of Finance Treasury Bond (MOF T-Bond) Futures on Monday, April 10. HKEX’s MOF T-Bond Futures will be the offshore markets’ first futures on domestic Chinese Government bonds.
KUALA LUMPUR - Alibaba Group says it will set up a logistics hub in Malaysia, the latest in a string of Chinese investments - including in infrastructure and real estate – in Malaysia. The hub will be part of a digital free trade zone launched by Malaysia’s Prime Minister, Najib Razak, and Alibaba’s founder and Executive Chairman, Jack Ma, in Kuala Lumpur yesterday.