China 

China to collect applications for scrap metal import licences from next month, trade group says

Chinese authorities will start accepting applications for licences to import unspecified quantities of soon to be restricted types of scrap metal from late May, the recycling branch of the China Non-ferrous Metals Industry Association said.The world’s top metals consumer has been clamping down on scrap imports as part of a campaign against foreign solid waste, leaving overseas scrap exporters scrambling to find other markets.Imports of low-grade copper scrap such as coiled cable and waste… Source link

Read More
Global 

China leaders vow to reform, not to stimulate, economy as trade deal with US nears

China’s senior communist leaders have congratulated themselves on saving the country’s economy from a hard landing during a trade war with the United States and they have decided to focus on “structural reforms”, instead of stimulus, to move the economy forward.The Politburo, the 25-member ruling body of the country headed by President Xi Jinping, reviewed China’s growth in the first quarter on Friday and concluded that market confidence has returned and economic performance was “better than… Source link

Read More
Home 

China stocks rise to 13-month high, as China Life’s earnings forecast brightens outlook

China’s stocks rose on Friday, with the benchmark reaching a 13-month high, as a profit forecast from bellwether China Life Insurance spurred optimism that corporate earnings growth will pick up.The Shanghai Composite Index closed 0.6 per cent higher, reflecting its highest level since March 21, 2018 and capped a weekly gain of 2.6 per cent. The CSI 300 Index of big-caps gained 1.2 per cent. Hong Kong’s market was shut for an extended holiday and will reopen on Tuesday.With China reporting… Source link

Read More
Home 

Does Japan’s Reiwa era promise a new economic dawn even as China rises?

On May 1, Japan will restart its clock, drawing the curtain on the Heisei era of Emperor Akihito and waking to a new – and hopefully brighter – Reiwa era of 59-year-old Emperor Naruhito. For many Japanese, this is perhaps not a moment too soon. For a couple of years, Japan’s economists have been talking up the “true dawn” unfolding in the country, as they try to put behind them the disaster, drift and global decline of three decades of Heisei.Most of their tentative optimism has arisen from… Source link

Read More
Home 

China ‘regrets’ WTO ruling after losing grain import quota case brought by US

China has promised to manage grain import tariff quotas within World Trade Organisation rules after losing an agriculture trade dispute case with the United States.A World Trade Organisation (WTO) panel decided that China’s system of tariff rate quota system for rice, wheat and corn violated international trading rules. China’s Ministry of Commerce said that it “regrets” the ruling and that it would “seriously study” the decision.The Commerce Ministry’s response is “a statement of acceptance”… Source link

Read More
Home 

Stocks Blog: China stocks head for weekly gain as 1Q earnings season kicks off

Happy Friday, traders. Hong Kong markets are closed and will reopen Tuesday due to the Good Friday and Easter Monday holidays, meaning no stock connect trading as well as no trading on the city’s exchange. But there will be plenty of action on China’s markets that we will cover for  you. So come back and visit us throughout the day. Please send any questions to deb.price@scmp.com . — Zhang Shidong in Shanghai and Deb Price in Hong Kong. Source link

Read More
China 

China expected to resume role as driver for global economy, BlackRock says

China’s economy, a drag on global growth last year because of a domestic slowdown, is expected to grow more quickly in the second quarter to become the key economic driver for the world, research by BlackRock shows.More expansive fiscal and monetary policies by Beijing have started to show results that may help to reverse a slowdown that has hit Europe and emerging markets particularly hard, researchers at BlackRock Investment Institute, the research unit for BlackRock Inc, said in Thursday’s… Source link

Read More
Home 

Tencent wins approval to distribute Nintendo Switch video game in China

China’s biggest game publisher Tencent Holdings has received approval to distribute a Nintendo Switch game on the mainland, paving the way for the Japanese video game maker to bring its latest console to the world’s biggest gaming market.Tencent has been given permission to distribute Nintendo’s “New Super Mario Bros. U Deluxe” game, according to an announcement on the website of Guangdong Provincial Department of Culture and Tourism on Thursday.Nintendo has submitted a request to the Chinese… Source link

Read More
Home 

China sees brighter outlook for yuan and foreign investment as US-China trade war deal nears

The odds of capital exodus from China and of a slide in the value of the yuan exchange rate have diminished thanks to China’s steady domestic growth, progress in trade talks with the United States and the decision by the US Federal Reserve to halt its interest rate increases, China’s foreign exchange regulator said on Thursday.The US Federal Reserve’s announcement that it no longer plans to raise interest rates this year will mean that the difference between US and Chinese interest rates will… Source link

Read More
Home 

Beijing takes control of rating agency Dagong, following last year’s licence suspension in China

Dagong Global Credit Rating, one of China’s oldest and biggest rating firms, has been taken over by the central government after its mainland licence was suspended last year from the bond market business for “chaotic” management problems and providing “fake” information.China Reform Holdings, a central government-owned enterprise, said in a statement on Thursday that it has acquired a controlling stake in Dagong and will put it under a strategic restructuring.“It’s not simply a nationalisation… Source link

Read More