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South China Morning Post teams up with Statista on a quest to find the fastest-growing companies in the Greater Bay Area

South China Morning Post will team up with Statista, a German online statistics portal, to compile a list of the fastest-growing companies in the Greater Bay Area (GBA), part of the programme by one of Asia’s oldest English-language newspapers to shed light on the future economic powerhouse in southern China.The ranking will be based on a survey of companies located among the 11 cities that make up the Greater Bay Area, with the minimum 2015 revenue of 1 million yuan and 2018 turnover of not… Source link

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Global 

Nasdaq executive dismisses ‘discredited’ Steve Bannon’s call to bar Chinese companies from US capital markets

A senior vice-president at New York’s Nasdaq stock exchange has dismissed comments by Steve Bannon calling for Chinese companies to be excluded from US markets, describing the former White House adviser as “discredited”.In a post on Chinese messaging service WeChat on Thursday, Bob McCooey said: “Like many of you, I have seen the comments by President Trump’s FORMER and discredited adviser Steve Bannon. I do not believe these words to have any truth.“With 22 IPOs from China in 2018 and 15… Source link

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US widens its campaign against Chinese tech companies with eye on surveillance firms

Hikvision’s presence loomed large at a security exposition last month in Hangzhou, taking up the entire upper floor of the convention centre. On the ground floor, Dahua Technology, its smaller rival, shared space with other security technology companies. Luminescent displays of road traffic flows, emergency response statistics and crime reports greeted the hundreds of trade visitors.Hikvision and Dahua now find themselves in the crosshairs of the US government, which is said to be considering… Source link

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What Amazon, Facebook, Google and other US tech companies are really after in China – data, not just market access

The limitations that the US government has imposed on American companies doing business with Huawei, the arrest of Meng Wanzhou and US attempts to restrict where other countries buy their 5G technology are only small parts of a much bigger battle. A greatly under-reported topic in the current trade war gets much closer to the central issue. As well as fights about soybean shipments and intellectual property theft, one of the key topics under discussion in recent negotiations has been improving… Source link

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China 

Huawei boss defends US companies against rising Chinese nationalism

Huawei Technologies founder Ren Zhengfei has moved to quell a rising tide of nationalistic fervour in China against US firms, including Google and Intel, following last week’s blacklisting of the world’s No 2 smartphone maker by the Trump administration.Speaking to mainland media outlets on Tuesday, Ren cautioned Chinese media and consumers against equating buying decisions with patriotism and called for an end to criticism of US corporations.“Let’s speak out more in favour of US firms. If you… Source link

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Access to audit papers – state secrets – of mainland companies to help Hong Kong regulator’s investigations

Hong Kong’s accounting regulator will get access to audit papers of mainland companies, considered as “state secrets” in a landmark agreement, which will assist in nine ongoing investigations.Under the memorandum of understanding between the Financial Reporting Council (FRC), the regulator for auditors of listed companies in Hong Kong and a unit of China’s Ministry of Finance, the FRC can request the ministry to get access to the auditor’s papers in the mainland to help with its investigations… Source link

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US-China trade war hurting American companies in China as tariffs cut into demand, survey finds

Three-quarters of US companies operating in China said the escalating trade war between Washington and Beijing was hurting their business, according to a new survey by the American Chamber of Commerce in China and its sister organisation in Shanghai.More than half of respondents said that higher tariffs imposed by both countries were cutting into demand for their products and 42 per cent said they were experiencing higher manufacturing costs. Of those surveyed, 38 per cent said they were seeing… Source link

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China 

US-China trade war manufacturing exodus creating boom times for Chinese logistics companies

The US-China trade war has created an unlikely winner: the Chinese logistics companies facilitating the exodus of manufacturers looking to dodge tariffs.The supply chain shift has been claimed as a victory by US President Donald Trump, who tweeted: “Many tariffed companies will be leaving China for Vietnam and other such countries in Asia.”This prompted a rebuke from the Chinese Foreign Ministry on Tuesday, which denied that manufacturers were leaving China in their droves.However, plenty of on… Source link

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Vietnam 

Steel companies post disappointing results in Q1 despite strong market growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Pomina steel products. Pomina reported loss of VNĐ82 billion in the first quarter while it posted more than VNĐ226 billion in the same period of last year. — Photo thepmiennam.net.vn HÀ NỘI – Listed steel companies have reported disappointing business results in the first quarter despite strong growth in the domestic market, which they have attributed to the high cost of capital. According to the Việt Nam Steel Association (VSA), domestic steelmakers produced 5.07 million tonnes in the first four months, registering growth of 37 per cent year-on-year.…

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Global 

Chinese companies moving to Vietnam keep quiet on trade war to avoid wrath of authorities and staff

Chinese state media may have launched a fierce propaganda campaign, placing the blame for the trade war squarely at the feet of the US government. But many manufacturers in China are keeping their heads below the parapet, for fear of reprisals from both inside and outside the country.Interviews reveal that many factory owners and operators feel that they are caught in the middle of forceful rhetoric from both sides in the trade war. And rather than face direct retaliation from officials,… Source link

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