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Standard and Poor’s maintains confidence in Hong Kong economic outlook

September 30, 2020

HONG KONG - Hong Kong's economic outlook is stable, says ratings agency Standard and Poor's, reflecting its expectation that current fiscal deterioration is not structural, and that political developments between mainland China and Hong Kong--as well as between the U.S. and Hong Kong--will not materially jeopardise Hong Kong's strong economic profile.

Hawkish US stance on China a bipartisan view, new survey shows

September 28, 2020

WASHINGTON -- Regardless of who wins the Presidential election, it's clear the US has turned a corner in its relations with China, and will continue to maintain a hard line, ANZ Research says in a new report. "A hawkish stance is a bipartisan view, and it seems that a growing majority of Americans are seeing China in an unfavourable way," the report says.

Silver lining in retail, but China economy remains unbalanced: BBVA

September 16, 2020

BEIJING - Economic activity indicators for August, including industrial production, fixed-asset investment and retail sales, all showed remarkable improvement from their previous month's readings -- and beat market consensus, according to the global financial services group, BBVA. Although China's recovery was still unbalanced, the silver lining was in retail sales, which entered positive expansion.

CPP’s ‘dual circulation” strategy to savage China imports: Natixis

September 16, 2020

HONG KONG - With minds in Beijing focussing increasingly on the upcoming meeting of the Chinese Communist Party Central Committee in October, high on the CPP's agenda will be the sketching out of a new official five-year plan for Asia's largest economy. Global financial group, Natixis, says a freshly-coined buzzword -- "dual circulation" -- looks set to play a leading role.

Philippines facing deep and prolonged weakness, says ANZ

August 19, 2020

MANILA - ANZ Bank has revised its Philippine 2020 GDP growth forecast downwards by 6.6% to minus-9.1% year-on-year.  Apart from the Philippines economic performance for the first half, ANZ says its downbeat assessment is based on four key considerations: (a) the re-imposition of social containment policies; (b) falling remittances; (c) slow fiscal response; and (d) diminished transmission of monetary accommodation.

China debt ratio up again in Q2, shadow banking still strong

August 24, 2020

HONG KONG -- China's ongoing effort to stimulate its economy led to much faster accumulation of debt in Q2 2020, with the debt ratio moving up by another 8% to 268.4% as a proportion of GDP, according to the global financial group, Natixis, in a report issued today. The report says the largest rise in debt stems from the corporate sector, with its debt increasing from 162.6% to 166.2%. "In particular, corporate loans and bond issuance grew by another 2.1% and 1.4% respectively."

Has Australian food and agriculture passed ‘peak China’ exposure? Rabobank tips market diversification

August 19, 2020

SYDNEY - Australian exports of food and agricultural products to China rose 8% in value terms in the 2019/20 season, reaching the highest level in the history of the China-Australia trading relationship. But that could well prove to be the peak of Australian agriculture's exposure to China, agribusiness specialist Rabobank said in commentary released today.

China’s rate rise puts recovery at risk, says S&P

August 18, 2020

SINGAPORE -- Interest rates have risen as China's better-than-expected second quarter GDP growth lifted markets, according to S&P Global Ratings, which says that underlying inflation continues to keeps fall, causing an even larger rise in real rates. S&P believes a climb in real interest rates may throw China's recovery off course "just as it should be gathering steam".

Taiwan’s President speaks on Hong Kong, cross-Strait policy, moots FTA with USA

August 14, 2020

TAIPEI -- In a video address to two US-based think tanks, the Hudson Institute and the Centre for American Progress (CAP), Taiwan's President, Tsai Ing-wen, has reiterated her four principles for management of cross-strait relations, mooted a Free Trade Agreement with the United States, and called on  the international community to speak out and act against the demise of Hong Kong's freedoms.