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China, US to discuss RMB, US monetary policy and trade co-operation

July 8, 2014

BEIJING - Vice-Finance Minister Zhu Guangyao says China and the US will discuss the value of the RMB as well as the impact of US monetary policy when top Chinese and US officials hold their annual Strategic and Economic Dialogue in Beijing on July 9 and 10t the. Zhu said China has urged Washington to pay attention to the possible spillover effect of changes in its monetary policy on the world economy as the Federal Reserve unwinds its quantitative easing policy.

Vietnam’s economy shows slow, steady recovery in first half

July 8, 2014

HANOI - The Vietnamese economy continues to improve, with economic indicators for the second quarter showing a slow and steady improvement in domestic consumption - and the external sector remaining strong. Industrial production growth rose faster in Q2, despite anti-China protests.

Stronger Taiwan exports suggest global economic recovery

July 7, 2014

TAIPEI - Taiwan’s exports increased 1.2% y/y in June, in line with market expectations. Electronics remained the key driver (up 9.9%), while basic metal and machineries also registered strong on-year gains (up 12.2% and 12.7%) in June.

Emerging markets gain momentum as China, India, Russia improve

July 7, 2014

HONG KONG - The HSBC Emerging Markets Index has indicated stronger output growth in June, posting a reading of 52.3, up from 50.6 in May and the sharpest rate of expansion since March 2013. However, it remains below its long-run average of 53.8.

China’s changing one-child policy: 20 million parents eligible

July 5, 2014

BEIJING - A new policy that allows couples to have a second child if one parent was an only child is gradually being implemented throughout China. Under the policy adjustment up to 20-million parents are eligible for a second child and up to 60% of respondents to a recent family-planning commission survey said they would like to have a second child.

Some critics unimpressed with Shanghai FTZ negative list cuts

July 3, 2014

BEIJING - The Shanghai Free Trade Zone (FTZ) has cut down the number of restrictions on its “negative list” for foreign investment following Government pledges to woo investors, but critics say the changes are not very meaningful. Although the new list does contain fewer items, critics say that of 51 items that have been eliminated, only 14 correspond to areas where foreign investments were prohibited or permitted with conditions attached.

China pulling the plug on foreign mainframes, software

July 3, 2014

BEIJING - E-commerce companies and banks in China are scrapping hardware and uninstalling software for mainframe servers made by American suppliers in favour of home-grown brands said to be safe, advanced and a lot less expensive. The move has taken special aim at products made by the American companies IBM Corp., Oracle Corp. and EMC Corp., all of which have deep roots in corporate IT departments across China.

Photo finish for Indonesia Presidential election as Prabowo closes gap

July 4, 2014

JAKARTA – In a comment on the Indonesian Presidential election, ANZ Bank says that with six days to go, the race is simply too close to call at this time. While just a few weeks ago the election seemed one that was (Jakarta Governor) Jojo Widodo’s to lose, ANZ says the financial market needs to more fully appraise the platform of Prabowo Subianto in the event of his victory.

Foreign brands losing ground to domestic firms in China

July 2, 2014

BEIJING - Amid a sluggish consumer goods market in China, foreign brands are facing pressure, with six out of 10 losing market share to their domestic rivals last year, an industry survey has found. Market growth for non-durable consumer goods slowed to 4.6% in the first quarter of 2014, down from 10% growth in 2012 and 15% three years ago.

Air Cargo outlook stabilises as growth accelerates in May

July 2, 2014

GENEVA - The International Air Transport Association (IATA) has released data showing that growth in global air freight markets accelerated in May, up 4.7% on-year compared with 3.8% on-year growth in April. Cargo volumes were up across all regions, but with significant differences in performance.

China’s banking regulator redefines LDR to spur lending

July 2, 2014

HONG KONG – The decision of the China Banking Regulation Committee (CBRC) to revise the calculation method for banks’ regulatory loan-to-deposit ratio (LDR), effective July 1, is expected to stimulate banking lending to the real economy, in particular to SMEs, says BBVA Bank.

InvestHK offering US$500,000 in benefits for start-up ventures

July 3, 2014

InvestHK, the investment arm of the Hong Kong Government, has launched a StartmeupHK Venture Programme for high-impact, innovative and scalable start-up founders who want to expand their business globally from Hong Kong. Benefits worth more than US$500,000 are on offer.

Shanghai modifies negative list for foreign investors in FTZ

July 1, 2014

SHANGHAI – Authorities have released a revised version of the negative list to offer more leeway for foreign investment in Shanghai’s pilot free trade zone. The revised list lifted restrictions on foreign investors from finance companies, trust companies, and currency brokers- and offers more freedom for foreign participation in the real-estate sector by allowing firms to invest in construction and the operation of large-scale wholesale markets for agricultural products.

China blocks corn shipment from US, citing non-approved GM strain

July 1, 2014

BEIJING – Chinese quarantine authorities have rejected more than 1.2 million tonnes of American corn after detecting an unapproved genetically-modified strain in shipments, with buyers now shifting to cheaper grain from other markets.

Chinese manufacturers finally see improvement, but risks remain: HSBC

July 1, 2014

HONG KONG - Chinese manufacturers signalled the first improvement in overall operating conditions for six months in June, with output rising for the first time since January, and at a moderate pace. Growth was supported by the strongest expansion of total new work since March 2013, while new export orders rose for the second month running.

Australia, China make steady progress on free trade talks

June 25, 2014

BEIJING - China and Australia may conclude a decade of negotiations on a free-trade agreement by the end of this year, Australian officials said after talks with Chinese officials. Australia’s Minister for Trade and Investment, Andrew Robb, said that both governments are determined to bring it to completion later this year.

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