China 

US seeking to ‘colonise’ China’s economy with trade deal, says veteran economic policymaker Li Deshui

A veteran Chinese economic policymaker has revealed certain United States demands made during trade negotiations with China that were later rejected by Beijing, confirming previous media reports and shedding light on mainstream thinking about US policy among China’s economic officials.Li Deshui, a former chief of China’s statistics bureau, wrote the US side had specifically demanded that China amend its domestic laws and proposed to establish a permanent bilateral office to debate Beijing’s… Source link

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Private equity, venture capital executives expect salary increases despite US-China trade war, uncertain economic outlook

Nearly two-thirds of private equity and venture capital executives in Asia expect to receive salary increases in the next 12 months despite potential “rougher seas” in the industry because of the US-China trade war and a slowing global economy, according to a new survey by Heidrick & Struggles.Only 1 per cent of those surveyed in the region expect to see pay cuts in the coming year, according to the executive search and consulting firm.Hiring also remains robust by private equity and venture… Source link

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China 

Will technology or commerce be the victor in the rivalry of two cities to be the model for China’s economic reforms?

A competition is under way between Shanghai and Shenzhen to claim the mantle as the role model and pacesetter for the next phase of the country’s economic reforms and growth.The Chinese government has unveiled blueprints for the long-term development of Shanghai the commercial hub and Shenzhen the “Silicon Valley” of China, granting each leeway to experiment with liberalisation policies and giving them a leg up on hundreds of special economic zones and free-trade zones around the country.“The… Source link

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Chinese key stock index falls by the most in 10 weeks as central bank refrains from stimulus to arrest economic slowdown

China’s stocks dropped by their most in 10 weeks on concern policymakers were not doing enough to arrest the decline in the nation’s economic growth, while a recent rally of smaller companies was judged to have been excessive. Hong Kong’s benchmark stock index also ended lower.The Shanghai Composite Index sank 1.7 per cent to 2,978.12 at the close on Tuesday, the biggest one-day decline since July 8, while the ChiNext gauge of smaller firms retreated 2.1 per cent. The Hang Seng Index lost 1.2… Source link

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China 

China economic slowdown sparks debate over what caused the slump, and how Beijing should intervene

After China’s economic slowdown grew more pronounced in August, analysts continued to debate how much of the blame rests with the trade war and how much is down to older, underlying issues in the Chinese economy.Industrial production growth – an important gauge of manufacturing output – slowed to 4.4 per cent in August, a new 17-year low, while retail sales growth slowed to 7.5 per cent. Fixed asset investment slowed to 5.5 per cent in the first eight months of year, down from 5.7 per cent in… Source link

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Property 

US long-term mortgage rates rise but remain historically low, as global economic slowdown, trade war weigh on sentiment

Long-term United States mortgage rates rose this week, but remained at historically low levels.Mortgage buyer Freddie Mac said on Thursday the rate on the 30-year, fixed-rate mortgage increased to 3.56 per cent from 3.49 per cent last week. Average rates on the benchmark loan have remained below 3.6 per cent for four straight weeks – the first time that is happened since the fourth quarter of 2016. A year ago, the 30-year rate stood at 4.6 per cent.The average rate for 15-year, fixed-rate home… Source link

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China 

Trade war and economic slowdown leave giant Chinese industrial estate scrambling to keep foreign companies

In the eastern province of Jiangsu, China’s economic problems are resonating through one of the engines of the nation’s dramatic growth over the past three decades, the giant Suzhou Industrial Park.Built on an area five times the size of Manhattan that was once farmland and fields, the park’s Singaporean-inspired design has an emphasis on tidy urban planning and green landscapes. The city of Suzhou itself – a silk hub known as the Venice of the East for its many canals – has modernised around… Source link

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China 

China tipped to start rate cutting ‘road map’ as early as next week, as economic slowdown deepens

As pressure builds on China’s central bank to contain the impacts of the ongoing US trade war and a broad-based economic slowdown, analysts are tipping it to start an extended cycle of interest rate cuts as early as next week, through its new Loan Prime Rate system.This would bring the People’s Bank of China (PBOC) into line with a global monetary easing cycle led by the US Federal Reserve and the European Central Bank and follows the PBOC’s decision on Friday to pump 900 billion yuan (US$126… Source link

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Trade war, economic uncertainty are making Asian investors more cautious, says RBC Wealth Management survey

Asian investors are becoming increasingly cautious about their portfolios as concerns grow about the US-China trade war and uncertainty over the global economic outlook, according to a new survey from RBC Wealth Management.Among investors surveyed in China, Hong Kong, Singapore and Taiwan, 80 per cent said they were “far more attentive” than they were in the past to their portfolios as a result of the current economic cycle.More than half of Asian investors surveyed said global economic… Source link

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China 

Environment becomes a trade-war victim as China ramps up industrial production to offset economic slowdown caused by trade war

The long-running trade war with the US has taken a well documented toll on China’s economy, dragging growth down to its slowest pace in decades. But as the country ramps up its factory output to try and counteract the slowdown, the environment is now paying a price too, according to a growing body of evidence.Increased industrial production aimed at offsetting stuttering growth is cancelling out efforts to eradicate the famous smogs that hang above many of China’s cities, said Charles Yonts,… Source link

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