Money 

Congestion or consumption? Beijing ponders trade-off on car purchase incentives to boost Chinese economy

A debate over whether the Chinese government should extend financial incentives for car purchases to increase consumption and economic growth is heating up.It started as sales in the world’s largest automobile market fell for the tenth month in a row in March. This created problems for domestic and foreign carmakers and hindered Beijing’s efforts to create a “powerful home market” that would offset the impact of China’s trade war with the US and slowing demand for Chinese exports.As China’s… Source link

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China 

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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South Koreans plough into offshore property markets as mainland Chinese pare down investments

Mainland China’s investments in overseas properties plunged last year amid stringent capital controls and a push by the government to get companies to put their money into belt and road infrastructure projects instead.The vacuum left behind has opened up opportunities for other Asian countries to increase their global real estate portfolios, according to analysts. South Korea in particular has benefited.In 2018 and the first quarter of this year South Koreans spent US$3.47 billion on overseas… Source link

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China 

Chinese and US companies fear Donald Trump’s trade war on the car industry

This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States.Jack Sun’s company does not sell directly to the United States but if US President Donald Trump decides to slap tariffs on the global car industry, suppliers such as Sun’s machinery firm would be right in the line of fire.Qingdao Ray Machinery and Technology, a 30-person operation based in northeast China, exports moulds and… Source link

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Loss aversion angst grips Chinese developers as Australian housing market fades

Chinese developers who arrived late to the fading Australian housing boom are faced with a curious choice: is it better to cut losses on investments that have turned sour or ride out the slump in the hope of an eventual recovery?One option is take the loss upfront by unloading land to other developers, a move seen as appealing to smaller developers who lack the financial firepower to wait it out in expectation of an eventual recovery.About a half-dozen Chinese developers have expressed a… Source link

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Chinese electric vehicle maker Xpeng unveils P7 four-door coupe at Auto Shanghai 2019, months after SUV roll out

Chinese electric vehicle maker Xpeng unveiled the P7 four-door coupe, its second mass-market model in four months, at Auto Shanghai 2019 on Tuesday. It will start deliveries from the second quarter of 2020 and will announce a price later.“With P7, we are targeting the new generation of China … Xpeng Motors’ unique differentiation is its vision and corporate DNA,” said He Xiaopeng, the company’s founder and chairman. Brian Gu, a veteran JPMorgan investment banker and chairman of its Asia-Pacific… Source link

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Credit Suisse to take controlling stake in Chinese securities joint venture

Credit Suisse said on Monday that its plans to take a controlling stake in its securities joint venture in China, the latest overseas firm to take advantage of Beijing’s efforts to further open the country’s financial services industry.China announced in 2017 that it would allow foreign banks to own majority stakes in their securities joint ventures as part of an effort to open up its banking sector. UBS was the first foreign bank to receive approval from regulators in November to increase its… Source link

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Zurich-based robotics giant ABB expects Chinese electric vehicle makers and SME sector to keep Shanghai plant busy

ABB Group, the Swiss-Swedish industrial automation and electricity supply technology company, is banking not only on hundreds of electric vehicle start-ups in China, but also millions of small and medium-sized manufacturers in the country, to fill up the order books at a robotics factory it is building in Shanghai.The Zurich-headquartered company, which also has robotics factories in Sweden and the United States, is betting big on further growth in the demand for automation in China – the world… Source link

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China 

US-China trade war ‘still within control’, Beijing says, as trade gap widens due to soaring Chinese exports

The US-China trade war is “still within control”, said a Chinese government spokesman, as the country’s trade surplus widened significantly in March.Exports soared while imports crashed, new data released on Friday showed, with analysts pointing to the seasonal distortions of the Lunar New Year holiday, as well as possible Chinese government intervention in the economy.“The China-US trade frictions have caused certain impacts to the operations of Chinese companies, but we think the overall… Source link

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As money pours in, can Chinese markets continue the upward trend, or is it too much too soon?

Chinese equities started April 2019 at almost exactly the same level as they began April 2018. The renminbi’s sharp rebound from the end of last year looks likely to continue. And Chinese bonds appear unlikely to top a stellar 2018. While all three of these assets demonstrate wildly different fundamentals and the outlook appears markedly different on each, it is clear that investors are broadly optimistic about China in 2019. How do I know? Recent reserves data clearly shows increasing investor… Source link

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