BEIJING - China plans to spend RMB252 billion (US$36.7 billion) through 2020 to tackle the country’s growing garbage problem. About two-thirds of the money will fund “non-harmful” methods of household-waste disposal, such as incineration, landfills and recycling, according to a statement by the National Development and Reform Commission (NDRC).
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HONG KONG - The credit profiles of Chinese companies have improved as deflationary forces abate in China, but new challenges await, S&P Global Ratings said today.
GENEVA - With a major global agreement to make international trade "faster, easier and cheaper" due to take effect in the early weeks of 2017, more than 300 officials from some 70 countries who are charged with making it work began a weekly-long meeting yesterday at an UNCTAD-organised forum in Geneva.
BANGKOK - Amid a global shift in the manufacturing hierarchy, the Mighty Five (MITI-V) cluster – Malaysia, Indonesia, Thailand, India and Vietnam – is seen as assuming an increasingly significant role, according to a Hong Kong Trade Development Council research report.
HONG KONG – S&P Global Ratings today affirmed its 'BB' long-term corporate credit rating on Melco Crown (Macau) Ltd. (Melco Crown). It said the outlook is negative. “At the same time, we lowered our long-term Greater China regional scale rating on the Macau-based casino operator to 'cnBB+' from 'cnBBB-' and on the notes to 'cnBB' from 'cnBB+', said S&P Global Ratings credit analyst Sophie Lin.
BEIJING - The CEO of Legendary Entertainment has resigned, a year after the Hollywood studio was purchased by China’s Wanda Group and just a month after its first major China co-production flopped. Wanda confirmed that Thomas Tull has left the company as part of a broader overhaul.
SHANGHAI - China's wealthiest people have been busier earning big money, and more content to spend up big in 2016, according to the Hurun Report's latest findings. The report is based on a four-month survey of about 450 millionaires on the Chinese mainland, defined as those with a personal wealth of more than RMB10 million yuan (USS 1.46 million).
HONG KONG - Notwithstanding a number of growth headwinds, including tightening measures in the property market and accelerated capital outflows accompanied by faster-than-expected currency depreciation, China’s ongoing economic recovery appears to be more resilient than previously anticipated, says BBVA Research.
SINGAPORE – China’s headline Q4 GDP grew stronger than expected, signalling a price recovery cycle, according to ANZ Bank. The number came in at 6.8% y/y, or 1.7% q/q on a seasonally adjusted basis.
HONG KONG - While the outcome is uncertain, it is clear that incoming President Trump’s attempts to shake up current bilateral relations between China and the U.S. will be a key theme for 2017 globally, says global asset manager Natixis.
SINGAPORE - Recent trade data show a notable rebound in exports in most Asian countries, even though China is somewhat a laggard, according to a new report from ANZ Bank, which suggests the end of a trade recession which has plagued the region since late 2014.
SINGAPORE - The number of negative outlooks for Asia-Pacific economies remains at a level not seen since the middle of 2010, when the region was still emerging from the global financial crisis, says S&P Global Ratings. Sovereign credit trends, however, continue to be stable in most economies in the region over the next one to two years.
SINGAPORE - "Chinese policymakers have three unpleasant policy options to consider to stem capital outflows, each of which comes at a cost: further depreciation, running down foreign-exchange reserves, or intensifying capital controls," says S&P Global Ratings economist, Vincent Conti.
BEIJING – The State newsagency, Xinhua, reports that, this spring, China’s textbooks will adopt the phrase “14-year Chinese People’s War of Resistance Against Japanese Aggression,” in place of the current wording, according to the Ministry of Education. China became the first country to fight against fascist forces when Japanese troops began their invasion of northeast China on September 18, 1931.
WASHINGTON— The World Bank Group today launched TCdata360, a free, open, and easy–to-use online platform that collects, analyses and visualises trade and competitiveness data. The website is designed to help policymakers, development practitioners, academics and citizens better understand critical issues, and to create more informed policies in the areas of trade, investment, innovation and the general economy.
SINGAPORE - The Foundry and Lightstone Ventures (LSV) have jointly launched Foundry SING1, Inc. to identify and address unmet clinical needs in Asia, leveraging on Singapore’s strong and growing medtech ecosystem.