China 

A miserable Year of the Pig for China’s hogs is godsend for American farmers

In China, pigs symbolise wealth. And 2019, being the Year of the Pig, was supposed to be a great year to make money. Instead, the nation’s 26 million hog farmers are battling the deadly African swine fever epidemic that is in its second year now.The virus, harmless to humans, has spread across 32 of the nation’s 34 administrative regions since the outbreak was first reported in August 2018, affecting a large portion of the nation’s 348 million strong swine inventory, according to Rabobank.“We… Source link

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China’s investors are piling into Hong Kong shares via Stock Connect channel in the longest shopping spree in 18 months

Chinese investors are not abandoning Hong Kong’s stocks, even as Asia’s third-largest equity market endures a double whammy of social upheaval and jitters about a global recession.Mainland traders have been buying the city’s stocks for 21 straight days through Friday via the cross-border investment channel known as the Stock Connect, pouring an aggregate HK$45.3 billion (US$5.8 billion) into equities listing on the Hong Kong stock exchange. That was the longest buying spree since February 2018,… Source link

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China’s social e-commerce sector to more than double to US$185 billion in sales by 2021

Social e-commerce has been growing exponentially in popularity among Chinese consumers for the past three years. Its GMV, or total volume of sales, is expected to keep growing at a fast pace to reach 1.3 trillion yuan (US$185 billion) this year and more than double to reach 2.86 trillion yuan in 2021, according to a report released by China Internet Watch (CIW).The sector saw its sudden surge two years ago when GMV grew 255.8 per cent to reach 626.85 billion yuan, up from 176.20 billion yuan a… Source link

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China 

China’s small banks still struggling to obtain funds to lend three months after first bank failure in 20 years

China’s numerous small banks are still struggling to raise the finances needed to be able to offer more loans to aid the slowing economy nearly three months after the country’s first bank failure in more than 20 years.After the government takeover of Baoshang Bank at the end of May, larger banks and investors remain cautious about providing financing to smaller institutions, fearful that their balances sheets hide large numbers of bad loans amid a continued government clampdown on risky lending… 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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China’s July home price cools, as escalating trade war and slowest economic growth in decades send shivers through property market

China’s frenzied housing market has cooled, as a government effort to cap prices is biting, while the impact of the year-long US-China trade war has percolated into the economy and caused the domestic output to grow at the slowest quarterly pace in three decades.The average cost of a new home rose by 0.59 per cent in July, marking the slowest increment in five months, while increases were recorded in only 61 of 70 cities being monitored. June’s growth was 0.66 per cent while prices grew 0.71… Source link

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China 

Donald Trump suggests meeting with China’s Xi Jinping to reach ‘humane’ response to Hong Kong protests

US President Donald Trump on Wednesday appeared to propose a face-to-face meeting with Chinese counterpart Xi Jinping to find a “quick” and “humane” solution to the weeks of unrest in Hong Kong.In a series of tweets on Wednesday night Washington time, Trump also appeared to link the outlook for trade talks with China with a resolution of the Hong Kong protests.“I know President Xi of China very well,” Trump said. “He is a great leader who very much has the respect of his people. He is also a… Source link

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China 

China’s banks resisting calls for more loans to firms due to rising default risks, lower demand due to trade war

China’s efforts to boost lending continue to struggle with many banks only willing to lend on a short-term basis due to concerns about creditworthiness, with corporate demand for credit declining at the same time due to the slowing economy and the effects of the trade war with the United States.Loan data for July released earlier this week was disappointing, with the levels of new bank lending and overall credit supply – also known as total aggregate financing – falling below expectations at 10… Source link

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China’s internet regulator warns app operators over data privacy and says more rectification is needed

China’s internet regulator has said that a large number of mobile apps need to take rectification measures for the over-collection of personal data, clamping down on the practice as the country’s over 800 million mobile users increasingly shop and order services exclusively online.The National Computer Network Emergency Response Technical Team issued its half-yearly report on Tuesday, saying a national response to the problem was necessary. Beijing authorities last month censured several… Source link

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China’s economy is in a fix, but authorities are right to resist more stimulus measures

For four decades, China has seemed like an overly energetic start-up company. It has always had ambitious targets, from the “Four Modernisations” to “Quadrupling National Income”, and “Made in China 2025”. Now, it seems, “slogan fatigue” is setting in and officials appear to have run out of ideas.In my view, that’s not a bad thing. Indeed, it is a sign of maturity and increasing sophistication. If officials can take a back seat, the economy will be able to grow “not only at night, but also… Source link

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