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Guangzhou-based Yuexiu Property warns of tougher times ahead after Beijing tightens screws on housing sector, slowing economy

Mainland developer Yuexiu Property posted a 63.2 per cent jump in first half core net profit, but warned that the outlook remains tough against the backdrop of a slowing Chinese economy and property cooling measures.“The government has been very clear that they want to steady the property sector and the price of land. Rising US-China trade tensions has also made the property market nervous,” Lin Zhaoyuan, chairman of the Guangzhou-based company, said at a news conference to announce the interim… Source link

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China 

Donald Trump tweets China wants a trade deal ‘so badly’, ahead of next round of talks in Washington

Donald Trump has insisted that China “badly” wants a trade deal even though talks in Beijing turned to the prospect of a protracted and wider confrontation.On Saturday the US president tweeted that “China wants to make a deal so badly. Thousands of companies are leaving because of the Tariffs, they must stem the flow”.“At the same time China may be hoping for a Democrat to win so they could continue the great ripoff of America, & the theft of hundreds of Billions of $’s!”Despite Trump’s latest… Source link

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China’s biggest appliance maker wants to wire ‘Iron Man-style households’ for the networked era ahead

Chinese conglomerate Midea is pushing ahead with a bold vision for the networked home, working with leading technology companies to create a living environment that one company official described as similar to the futuristic worlds depicted in Hollywood science fiction.The mainland’s biggest maker of home appliances said its real estate arm, Midea Real Estate Group, will partner with cloud computing company AliCloud, video surveillance provider Hikvision, electric carmaker XPeng and other… Source link

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Stocks Blog: Cloudy day with a chance of turbulence ahead

The markets will be braced for volatility on Wednesday, with Asian equities looking like they are set for a mixed start following an overnight rebound in US stocks. But even as China moves to stabilise the yuan, fuelling hopes that cooler heads will prevail, Hong Kong could be in line for more losses. Join us, Azar Zaidi in Hong Kong and Zhang Shidong in Shanghai, as we track all the day’s happenings in the bourses of mainland China and Hong Kong.  Source link

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Huawei pushes ahead with self-reliance drive with US$1.4 billion R&D centre in Shanghai in spite of US trade restrictions

Huawei Technologies, the world’s largest telecommunications equipment supplier, plans to invest 10 billion yuan (US$1.4 billion) in a new research and development (R&D) centre in Shanghai as China pushes for self-reliance amid intensifying competition with the US in science and technology.The new centre, to be located in Shanghai’s Qingpu district, will focus on R&D in fields including chips for different devices, wireless networks as well as connected device networks known as the Internet of… Source link

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Vietnam 

Labour-related difficulties lie ahead for Vietnamese textile firms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Coats are made at Đức Giang Co Ltd for export to Europe. Vietnamese textile companies must be aware of origin and traceability regulations to increase their market shares in the EU amid the ratification of the EVFTA. — VNA/VNS Photo Trần Việt   HÀ NỘI — Vietnamese textile and apparel firms are facing tough times expanding their businesses, especially in terms of human resource development, experts said on Friday. The main problem was because of low productivity by Vietnamese workers despite better pay conditions in recent years,…

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China pulls ahead of US in 5G race despite trade war, Huawei blacklisting

In the race for technology supremacy, China is betting it can seize the lead by building the world’s biggest 5G wireless networks.To get there, the country is banking on the might of the one-party state, making sure its state-run carriers have access to cheap airwaves and fast, inexpensive approvals for putting up the hundreds of thousands of base stations the fastest wireless technology requires.As top mobile carriers elsewhere flinch at the cost of building 5G wireless networks, China’s… Source link

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China 

China’s purchases of US agricultural products ‘efforts to show goodwill’ ahead of Shanghai trade talks

China’s purchases of agricultural products from the United States are part of “unremitting efforts to show goodwill” ahead of the resumption of trade talks in Shanghai this week, as well as a bid to shift the focus away from controversial issues of forced technology transfer and enforcement, according to state media.State television reported over the weekend that “millions of tonnes” of US soybeans have been loaded onto ships destined for Chinese ports since the G20 summit meeting between… Source link

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China 

China, Donald Trump keep expectations low ahead of trade talks in Shanghai

Chinese state media is playing down expectations for any significant breakthrough from this week’s trade talks with the United States, while US President Donald Trump said Beijing could delay the deal until after the 2020 presidential election.Washington and Beijing have confirmed that the next round of negotiations will be held in Shanghai on Tuesday and Wednesday – the first face-to-face meeting since talks on their year-long trade war collapsed in early May.It will also be the first in… Source link

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Hong Kong, China markets gain as positive sentiment builds ahead of next week’s trade talks

Hong Kong and China markets advanced for the third straight day, as technology shares continued a rally prompted by positive developments in the US-China trade talks.The Shanghai Composite Index on Thursday rose 0.5 per cent to 2,937.36. The Shenzhen Component Index surged 0.9 per cent, and the ChiNext Index of start-ups gained 0.8 per cent.The Hang Seng Index rose 0.3 per cent to 28,594.3. Turnover reached HK$68 billion (US$8.7 billion), lower than the daily average of HK$82 billion achieved… Source link

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