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Tencent seeks new growth in year of transition as consumer businesses mature

Depending on whom you talk to, 2018 was either a bumper year for Tencent Holdings or a year to forget.The first Asian company to breach US$500 billion in market cap, the internet giant’s shares rose to an all-time high in January 2018, powered by its money-minting video games business and ubiquitous WeChat super app. Then came a much-chronicled government crackdown on content and gaming, which abruptly ended the party and wiped out almost half the company’s value by October.Tencent’s roller… Source link

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China 

Big companies on alert in countdown to China’s consumer rights TV show

China is gearing up to skewer companies it accuses of treating consumers badly in a yearly event that has previously named and shamed firms from Apple to Nike.State-run China Central Television (CCTV) will on Friday evening broadcast its annual consumer rights show, similar to CBS network’s 60 Minutes in the United States, that tends to be a mix of undercover reports and song-and-dance routine.Known as “315”, in reference to global consumer rights day on March 15, the show is usually greeted… Source link

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All mainland China markets open higher, with consumer stocks leading in Shenzhen

The Hong Kong market opened flat on Friday, while leading benchmarks in mainland China recovered losses made in previous sessions.With the conclusion of the annual National People’s Congress in Beijing on Friday, and the release of most of key China economic data on Thursday, investors will once again turn their attention to the US-China trade war and corporate results, said traders.“Investors remained sidelined on Friday. Over the short term, I expect the Hang Seng Index to trade in a tight… Source link

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Vietnam 

VN ranks fourth in world in consumer confidence in Q4 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Việt Nam ranked fourth in the world in its Consumer Confidence Index (CCI) of 122 percentage points (pp) in the final quarter of last year, according to the Conference Board Global Consumer Confidence Survey conducted in collaboration with Nielsen, a global measurement company. The top three countries were India, the Philippines and Indonesia, whose scores were 133, 131 and 127, respectively. Compared to the third quarter, Việt Nam’s CCI score fell by 7 points. However, with a steady uptrend CCI…

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Car sales, TV sets and the McDonald’s McRib – what consumer spending tells us about the health of the US economy

The McDonald’s McRib is a barbecue-flavoured, pork-based sandwich introduced in the 1980s and made available for only a very brief period each year. For fast-food fans, the tangy but elusive sandwich has a cult-like status and has spawned many dedicated McRib locator websites, just so devotees can pinpoint their best opportunity to get their hands on the treat.Surprisingly, the presence of the McRib has also been linked to improved equity performance. When the seasoned, sauce-dripping sandwich… Source link

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China 

Overseas acquisitions to take a back seat as Chinese consumer brands sharpen domestic focus

Chinese companies’ zest for overseas acquisitions is expected to drop and they will become increasingly selective in pursuing targets as they focus on domestic growth, according to an investment expert.“Although outbound has dropped in terms of the number of deals, the deal size has gotten bigger,” said Karen Cheung, managing director specialising in Asian consumer retail at global investment bank advisor BDA Partners. “The trend I’m seeing is that Chinese consumers are starting to appreciate… Source link

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China 

Chinese people relax while Beijing calls on consumer to spend and lead economy out of trouble, survey says

As China demanded its population spend more to help stabilise the economy, a survey by the country’s statistics bureau showed that an average Chinese person slept longer and ate more slowly than they did a decade ago. A typical citizen slept nine hours and 19 minutes a day in 2018 – 17 minutes longer than they did in 2008, the survey by the National Bureau of Statistics on how Chinese spend their time found. While the average man slept nine hours and 16 minutes, the average woman slept six minutes…

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China 

Is China wise to bank on consumer spending to drive economic growth?

China has a grand plan to rebalance its economy by reducing its dependence on state-led investment and exports in favour of increased consumer spending. But after disappointing retail sales figures in recent months and a sharp rise in household debt, questions are being asked about the feasibility of Beijing’s ambitions. According to the National Bureau of Statistics, in the first 11 months of 2018, retail sales – a measure of consumer spending that also includes government purchases – rose 9.1 per cent year on year to 34.5 trillion yuan (US$5.09…

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Vietnam 

Lenders boost consumer loans at year-end – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Both finance companies and banks are promoting consumer lending. – Photo Vietimes.vn Viet Nam News Tiên Phong Joint Stock Commercial Bank (TPBank) has just launched a ‘super speed’ auto loan programme, with a commitment to approve loan appraisals within eight hours. Customers can borrow up to 80 per cent of the value of a car over 84 months. Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is applying an unsecured loan programme, requiring no collateral or deposits. Under the programme, borrowers can get loans at a maximum amount…

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China 

China to roll out new consumer spending incentives for cars and home appliances to offset trade war

China is planning to roll out a new set of incentives this year to encourage the country’s 1 billion consumers to buy more items like cars and home appliances as part of a wider effort to stabilise economic growth, a senior state planner said. The comments by Ning Jizhe, vice-chairman of the National Development and Reform Commission (NDRC), China’s top economic planning agency, followed the decision by the Central Economic Work Conference last month to expand domestic consumer spending this year to achieve “high-quality growth” and offset the impact if…

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