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The world’s biggest pork eaters are developing a palate for beef and other substitutes

China’s pork consumption has probably peaked, as consumers are opting for a healthier and a more varied diet.Some 41.4 million tonnes of pork was consumed by the nation’s 1.4 billion people last year, according to market research provider Euromonitor. Although slightly higher than 41 million tonnes in 2017, it was 4.7 per cent lower than the historical peak of 42.5 million tonnes in 2014.On a per capita basis, last year’s consumption of 29.8kg was also 4.5 per cent lower than in 2014.Darin… Source link

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China 

Japan overtakes China as the biggest creditor to the US, as Japan’s June Treasuries holdings jump to a 30-month high

Japan surpassed China in June as the top holder of US Treasuries as the trade war between the world’s two largest economies intensified.Japan increased its holdings of US bonds, bills and notes by US$21.9 billion to US$1.12 trillion, the highest level in more than two and half years, according to data released by the Treasury Department on Thursday. Meanwhile, China’s ownership rose for the first time in four months to US$1.11 trillion, up by US$2.3 billion.The last time Japan held the position… Source link

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Ping An posts biggest jump in interim net profit since 2015, helped by a one-time tax benefit and a stock market rally in China

Ping An Insurance (Group), China’s largest insurer by value, posted the biggest jump in interim net profit since 2015, bolstered by a one-time tax benefit, a stock market rally and growth in its new business units.Net income soared 68 per cent to 97.7 billion yuan in the six months ended June 30, beating the 19 per cent increased expected in a Bloomberg survey of analysts. Revenue rose 17 per cent to 690.25 billion yuan (US$98 billion), while basic earnings per share rose 23.7 per cent to 4.12… Source link

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Baidu falls further behind among China’s biggest tech firms as Meituan, NetEase overtake in market value

Baidu Inc. has fallen out of the top five most valuable publicly traded Chinese internet companies after its market capitalisation slid below that of gaming and e-commerce pioneer NetEase Inc.After a 40 per cent slide in its share price this year, Baidu’s market valuation stood at US$33.2 billion at the close of trading on Wednesday, compared with US$33.5 billion for NetEase, whose shares have risen by 11.4 per cent in the same period. Baidu declined to comment on its market valuation.Baidu… Source link

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Is the world’s biggest pork consumer ready for substitutes, as African swine fever burns a path through China’s hog herds?

Chicago-based Sustainable Bioproducts could provide a substitute protein to help China cope with pork shortages as a virus threatens to halve the nation’s hog industry this year, according to two board members at the start-up.Tony Vernon, former chief executive of Kraft Foods who joined the company’s board this week, said the recent African swine fever epidemic has highlighted the role that alternative protein technology could play in resolving the unfolding food crisis.“While the need for… Source link

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Hysan Development, the biggest landlord in Causeway Bay, feels the brunt of protests, expects July sales drop in ‘early teens’

Hysan Development, the biggest landlord in Hong Kong’s shopping district Causeway Bay, said that overall sales at its shopping centres is likely to have fallen by at least 10 per cent in July, as the regular extradition bill protests in the area kept shoppers away.“For July … I believe a drop can be seen. The initial estimate will be in early teens, a drop of at least 10 per cent,” Roger Hao, Hysan’s chief financial officer, said after the firm reported an 8.9 per cent rise in an underlying… Source…

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US-China trade war takes heavier toll than expected, wreaking its biggest havoc in the fourth quarter, investment banks say

The US-China trade war, which has raged on for the 13th month last week, will wreak havoc on the world’s two largest economies in the fourth quarter as it takes a heavier toll than previously expected on growth, according to two investment banks.The United States economy faces rising fears of a recession, said Goldman Sachs, which cut its 2019 US growth forecast by 0.2 percentage point to 1.8 per cent in the final three months. China will feel the “biggest hit” from the latest round of proposed… 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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Hytera, China’s biggest supplier of police mobile radio systems, could take a beating in the US after federal ban

Hytera Communications Corp, China’s biggest supplier of professional mobile radio (PMR) systems used by police, is expected to lose ground in the world’s largest economy, as a ban on US federal agencies buying equipment from the company takes effect on Tuesday.That federal ban, outlined in section 889 of the 2019 US National Defence Authorisation Act, also covers four other major Chinese hi-tech companies, telecommunications network equipment vendors Huawei Technologies and ZTE Corp as well as… Source link

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Shanghai stocks post biggest weekly drop in three months as ZTE and telecom makers tumble

China and Hong Kong stocks ended the week on a softer note on Friday, with the mainland’s benchmark capping the worst five straight days of trade in three months, as ZTE and other telecom equipment makers retreated on renewed concern the ongoing trade war will disrupt business operations.The Shanghai Composite Index fell 0.7 per cent to 2,774.75. The gauge lost 3.3 per cent for the week, its biggest decline for the five-day period since May 10. Hong Kong’s Hang Seng Index dropped 0.7 per cent… Source link

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