Home 

Why China needs to accelerate industrial internet efforts amid economic slowdown, trade tensions

China’s transformation into a services-driven economy is likely to accelerate as industrial internet developments gather pace across the country, according to a senior executive at venture capital firm Gobi Partners.Michael Zhu Lin, a managing partner at the firm, predicted that about 85 per cent of Chinese companies will establish cloud computing-based activities over time and that enterprise data generated would expand on par with the amount of information gathered from consumer-based… Source link

Read More
Home 

US blacklisting of China’s supercomputing giants ‘will only accelerate self-reliance drive’

The Trump administration’s move to add China’s supercomputing companies to its trade blacklist will only accelerate the domestic industry’s efforts to become more self-reliant, said Chinese experts who gathered for a conference in the country’s hi-tech heartland of Shenzhen.Last week, the US Commerce Department added Sugon, the Wuxi Jiangnan Institute of Computing Technology, Higon, Chengdu Haiguang Integrated Circuit and Chengdu Haiguang Microelectronics Technology to the so-called Entity List… Source link

Read More
Vietnam 

Infor Announces New India Business Unit to Accelerate Strategic Growth and Increase Customer Intimacy – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Promotes veteran Ranga Pothula as managing director and general manager of new region   MUMBAI, INDIA  – Media OutReach – 18 June 2019 – Infor, a global leader in business cloud software specialized by industry, announced the India Business Unit (IBU) as a new separate region — comprising India, Nepal, Bangladesh and Pakistan — to further accelerate progress and tap growth opportunities in this vast market. Additionally, Ranga Pothula is named managing director and general manager for the IBU to drive the next phase of growth. This move lowers the center of gravity…

Read More
Vietnam 

Solutions sought to accelerate disbursement of ODA – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Nhật Tân Bridge in the capital city Hà Nội, one of many infrastructure projects in the country built with Japanese ODA. VNA/VNS Photo Lâm Khánh HÀ NỘI – The ODA National Steering Committee held a meeting with donors in Hà Nội yesterday to seek solutions to speed up the disbursement of ODA capital and preferential loans, which has showed signs of slowing down in recent years. The meeting, chaired by the steering committee’s chairman Deputy Prime Minister Phạm Bình Minh, was attended by representatives from six donors…

Read More
Home 

Foreign investors accelerate selling of China equities in May, as net US$7.8 billion exits via stock connect

Foreign investors accelerated their exit from mainland equities during May, with data at the close of Friday trade showing the largest single month of selling through exchange links since December 2016, amid growing pessimism towards equities as trade tensions between China and the US continue to escalate.A total of 53.7 billion yuan (US$7.78 billion) worth of Chinese equities were sold in May, almost three times the outflow in April, according to Bloomberg data. This marks the greatest monthly… Source link

Read More
Home 

Chinese car stocks accelerate as new tax rules trigger speculation of more support from Beijing

Shares in Chinese car makers surged in late trading on Friday on hopes that Beijing will eventually roll out more supportive policies to bolster the battered industry.The government released specific rules on Friday regarding the implementation of a new vehicle purchase tax, which was approved in December and will come into effect in July. The legislation set the tax rate at 10 per cent, instead of the rumoured 5 per cent the industry had hoped for.Analysts and investors said that even though… Source link

Read More
China 

China’s belt and road may accelerate exit of manufacturing to Vietnam and India, researchers warn

The trade war with the United States coupled with the “Belt and Road Initiative” has the potential to add further pressure to China’s sluggish economy and debt pile, according to researchers, as the benefits of manufacturing in the mainland decrease.China’s manufacturing industry has already been hit by the US trade tariffs, in particular, the smaller exporters who are the most vulnerable to slowing demand and slimmer margins in the face of competition from low-cost alternatives including… Source link

Read More
Vietnam 

MoF urges PVN to accelerate divestment in sensitive sectors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

PVN has been asked to accelerate its divestment from enterprises which operate in sensitive sectors, such as securities and investment funds. — Photo pvn.vn Viet Nam News HÀ NỘI — The Ministry of Finance (MoF) has asked the Vietnam Oil and Gas Group (PVN) to accelerate its divestment in enterprises operating in sensitive sectors. This request was part of an MoF document in response to PVN’s petition on restructuring, equitisation and divestment in enterprises. According to the MoF, the Prime Minister issued document No 1182/TTg-ĐMDN approving the list of…

Read More
Vietnam 

Ministry of Transport to accelerate North-South Expressway project – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể.— Photo vietnamfinance.vn HÀ NỘI — The Ministry of Transport plans to rush the implementation of the North-South expressway project in 2019, said Minister of Transport Nguyễn Văn Thể. He said the ministry had approved a feasibility study of 11 sub-projects of the North-South expressway project since October last year and was in the process…

Read More
Vietnam 

November car sales accelerate – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Car sales rose by 23 per cent y-o-y in Novenmber to 30,540 units, according to a report by the Vietnam Automobile Manufacturers’ Association. The report showed that November sales reached 253,957 units, with giants such as Toyota, Trường Hải Auto Corporation (Thaco), Ford and Honda claiming the majority of market share. Domestic automaker Thaco now leads car sales in Việt Nam with 88,181 units sold in the first 11 months, up 9 per cent compared with the same period last year,…

Read More