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Who’s afraid of Huawei? Where Asia stands on China’s 5G tech giant

While much of Southeast Asia has embraced Huawei as the preferred provider of 5G communications equipment, Japan and South Korea seem to be hedging their bets, and India’s implementation of the technology is still a long way off.JAPANJapan has found itself at odds with its larger neighbour in recent months over whose equipment will lay the groundwork for the country’s roll-out of 5G – the fifth generation of mobile communications technology that has been lauded for its potential to reshape… Source link

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What kind of stimulus do China’s half-idle car assemblies need to restart stalled sales in the world’s largest vehicle market?

Word got around last week – while the Auto Shanghai 2019 trade show was in full swing – that China’s economic planning agency was mulling an easier process for drivers to obtain licences in the world’s largest vehicle market.The speculation sent the share prices of carmakers soaring, on hopes that the liberalised procedure would spur drivers to become owners, help clear out showrooms and stem nine consecutive months of declining sales. At least three automotive stocks jumped by their 10 per… Source link

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China’s economic growth unable to boost employment as job market drops to six-year low, says think tank

Despite better-than-expected economic growth in the first quarter, China’s job market performed at its worst level in six years at the start of 2019, according to an industry report published on Friday.The number of jobs seekers normally rises during January to March when many workers look to change jobs and college graduates start looking for career opportunities after their graduation. However, in the first quarter, the number of potential applicants rose to the highest level since 2011 while… Source link

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China’s exporters fear heyday is over amid sour mood at Canton Fair as US-China trade war lingers

The optimism expressed by officials from China and the United States suggesting the trade war is almost over has not trickled down to small exporters exhibiting their products at China’s largest export fair, who fear that, with or without a deal, the heyday for Chinese exports is over.Exporters at the Canton Fair in Guangzhou, the country’s biggest export exhibition held in every spring and autumn, remain cautious over the outlook for US-China trade relations and the prospects for selling… Source link

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Gree Electric and China’s home appliance queen Dong Mingzhu seeking to lead way on SOE reform

Appliance queen Dong Mingzhu may soon become the standard bearer for China’s effort to its reform state-owned businesses.Outspoken chairwoman Dong is widely known to the Chinese public because she appears in many of the adverts for Gree Electric, the listed, state-owned company that is the world’s largest manufacturer of residential air conditioners.Dong is now at the forefront of a highly anticipated deal that will shift the ownership, and the actual control of the company, that she had helped… Source link

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Why is global investors’ fossil fuel divestment not having the desired effect on China’s carbon emissions?

Western institutional investors who have joined the coal divestment movement are finding it difficult to pressure Chinese companies to reduce their carbon footprint despite Beijing’s commitment to the Paris Agreement.Analysts say there are two main reasons for this: China is yet to implement plans to cap carbon emissions and, more importantly, Chinese miners and power producers do not rely on foreign funding.The Paris accord sets out a global action plan to reduce greenhouse emissions and put… Source link

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Singapore’s sovereign wealth fund GIC and Chinese mall operator Grandjoy to kick off China’s first listed real estate trust

Singaporean sovereign wealth fund GIC and its long-term Chinese ally, the mall operator Grandjoy Holdings Group, have been selected for a pilot programme that will allow individual Chinese investors to buy shares in rent-yielding properties for the first time.Grandjoy, the property arm of state-owned conglomerate Cofco, was picked by the securities regulator as one of several firms to try China’s first publicly listed real estate investment trust (Reit), its chief financial officer, Xu Hanping,… Source link

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China’s social credit system stops the sale of over 26 million plane and train tickets

China has restricted the sale of 20.47 million plane tickets and 5.71 million high-speed train tickets as punishment for failing to repay debts or conducting other “untrustful” behaviour, according to data from National Development and Reform Commission.Millions of individuals and businesses have been labelled as untrustworthy on a growing blacklist compiled by China’s courts, banning or restricting them from any number of activities, including accessing financial markets or travelling by air… Source link

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China’s stock benchmark drops from one-year high as carmakers weigh on sentiment

China’s stocks fell from a one-year high, as carmakers ran out of gas following a rally spurred by speculation about government stimulus to bolster car salses.The Shanghai Composite Index dropped 0.4 per cent, or 12.92 points, to 3,250.20 at the close on Thursday after rising to the highest level since March 2018 a day earlier. A gauge tracking auto stocks slumped 1.9 per cent after surging 7 per cent over the past two days, according to data provider Shanghai DZH. Hong Kong’s Hang Seng Index… Source link

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China’s economic rebound is helping Europe, but not as much as Italy, France, Germany and Brexit are hurting it

Last week, the International Monetary Fund announced that it had slashed its growth forecast for the euro-zone economy, which it now expects will expand by just 1.3 per cent this year, down 0.6 percentage points compared with the IMF’s last full forecast in October 2018. The downgrade was mainly attributable to the even sharper downward revision of growth in Germany, Europe’s largest economy, which is projected to expand by a meagre 0.8 per cent this year, a drop of more than 1 percentage… Source link

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