China 

Donald Trump’s demand for stable yuan to end US-China trade war ‘acceptable’ to Beijing

A demand from the United States that explicitly requires China to keep the yuan exchange rate stable as a condition to end the ongoing trade war plays right into Beijing’s hands, and is an offer the government in Beijing will accept, said analysts.The US has demanded that China stop devaluing the yuan as a condition of ending the trade war, and the two countries may include currency policy in a memorandum of understanding that would form the basis of a trade deal, Bloomberg reported.For years,… Source link

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Property 

Battlefield for investors in Beijing shopping malls moves to far-flung suburbs

The battlefield for investors in Beijing shopping malls has moved far from the heart of the city.Increasingly, developers and investment funds are opening mega-malls in distant suburbs, competing for precious foot traffic with pet cafes, jazz bars and other novelties not available elsewhere.City planners are behind the shift: They want to disperse the 24 million residents of the nation’s capital city, which is built far out on a series of beltways, ending with the 7th Ring Road. As part of that… Source link

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Global 

With or without trade war deal, disputes between China and US set to intensify, says Beijing commentator

It is wrong to advocate confrontation, but it is not right to pretend there is peace either. In the current economic climate, China and the United States may reach a trade deal to avoid an escalation in the current tariff war, but such an agreement will not lead to harmonious coexistence between Beijing and Washington. Demands from Washington can be generalised into two main themes. One is asking China to open up its market further, and the other is asking China to reform its state-led… Source link

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China 

China and United States make ‘progress’ in Beijing but trade war talks to continue in Washington next week

China and the United States have agreed to continue talks in Washington next week after two days of negotiations in Beijing produced “progress” but not enough to seal a deal to end the trade war, a source who had been briefed on the talks told the South China Morning Post. “Talks will continue next week among the same group of people, but at a different place”, the source said, who declined to be identified. “The last two days in Beijing made progress but not enough to seal a final deal.”…

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Ecommerce 

Why is JD.com spending US$400 million to buy this hotel in Beijing?

JD.com, China’s second largest e-commerce company, has closed a deal to buy the Jade Palace Hotel in Beijing for US$400 million, with the goal of transforming the five-star property into a new innovation and recruitment centre. The Nasdaq-listed company said on Monday that it acquired 100 per cent ownership of the hotel, which is located near the Chinese capital’s Zhongguancun technology hub. “The purchase of the hotel will serve JD.com’s long-term development,” a company spokesman said. “The hotel will be transformed into a space mainly for technology innovation and commercial…

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China 

Trade war truce deadline played down by China media on eve of latest round of talks in Beijing

The March 1 deadline for trade negotiations between China and the United States is a “media topic created by the US side” and it could be extended to a later date such as May 1, said an opinion piece posted by a number of Chinese official media outlets on the eve of the latest round of trade talks between Beijing and Washington. The opinion piece, which was first published on a social media account, Taoran Notes, on WeChat on Sunday, is not a direct statement from the Chinese government, but…

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Home 

Guangzhou offers lots of carrots to win over international biotech players in race to catch up with Beijing and Shanghai

The southern Chinese city of Guangzhou thinks it has found the formula to catch up with Beijing and the eastern cities of Shanghai and Suzhou in the development of novel drugs: incentives to win over big international players. Government incentives have attracted investment from such companies as GE Healthcare, a subsidiary of American conglomerate General Electric that focuses on medical imaging and diagnostics equipment and bio-pharmaceutical manufacturing technologies. GE is building its first Asia biotech campus – covering 350,000 square metres and requiring 800 million yuan of investment – in…

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Home 

Chinese developers’ New Year’s resolution – diversify into robotics, green cars and other pet projects of Beijing

It’s hard to be a rich Chinese property developer these days. Profits are still booming, for sure. And property development remains one of the most powerful engines of the economy. But when developers look ahead, they see diminishing profits – and diminishing favour. To stay at the top of the tycoon pile, they are quickly diversifying, embracing the government’s new pet – high tech. Think robotics. Think green cars. Think artificial intelligence. “Failure or success does not really matter,” said Lung Siu-fung, an analyst at China Merchants Securities International. “At…

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China 

China factory outlook darkens due weak domestic demand, but how will Beijing respond?

The larger-than-expected deterioration in manufacturing sector activity in January paints a particularly grim picture of the Chinese economy, since much of the decline was due to weaker domestic demand, suggesting the government will have to do more to spur economic growth at home. The Caixin manufacturing purchasing managers’ index (PMI) slumped to 48.3 in January from 49.7 in December, meaning Chinese manufacturing sector activity contracted for the second month in a row, and at a faster speed than the month before. The index fell to its lowest since February 2016…

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