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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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Global 

China ‘smoothing’ of economic data is distorting global growth and policy responses, study says

China’s official economic data over the past four years has been “too smooth to be realistic”, given the significant volatility in key industries over the same period, according to a new study by Rhodium Group, a US-based economic research house.A new report claims that this unrealistic data has led to distortions in global economic growth estimates, which in turn has affected economic policy decision-making throughout the world, with China paying the highest price.Beijing has always… Source link

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China 

China slowdown persists as industrial economy posts worst growth since February 2002

China’s industrial production in July grew at its lowest rate since February 2002, with the retail sector also taking a further hit amid a sharpening slowdown sparked by the US-China trade war.Industrial production – a measure of the output of the industrial sectors in China’s economy, including manufacturing, mining and utilities – grew by 4.8 per cent from a year earlier in July. This was down from 6.3 per cent in June, which had spiked up from May’s 5.0 per cent growth rate.The July reading… Source link

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Vietnam 

Việt Nam keeps goal of export value growth at 7.5% in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Processing shrimp for export. Việt Nam met goals of export value growth at 7.5% in 2019. Photo thegioihoinhap.vn HÀ NỘI –The Ministry of Industry and Trade would not adjust its import and export goals despite current difficulties. Instead it would find the most effective solutions to achieve export growth of 7-7.5 per cent as proposed, Industry and Trade Minister Trần Tuấn Anh said in the meeting on Wednesday. The minister requested in the last months of the year that the Department of Import and Export must research and build…

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Global 

China’s exports post surprise growth in July despite dramatic escalation in US trade war

China’s external trade reported surprising stability in July, with exports growing 3.3 per cent and imports shrinking at 5.6 per cent, which was slower than analysts expected.Exports, having dropped by 1.3 per cent in June, beat the median forecast of a Bloomberg poll of analysts who had suggested a 1.0 per cent decline. This is despite July being the second full month under which China’s exports to the United States faced a higher tariff of 25 per cent. July’s total exports were US$221.53… Source link

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China’s stocks endure longest losing stretch in two months as trade war dims growth prospect

China’s stocks fell on Wednesday, with the benchmark gauge capping its longest run of declines in the past two months, as the US-China trade tension weighs on the growth outlook.The Shanghai Composite Index dropped 0.3 per cent to 2,768.68, capping a sixth straight day of declines and matching a similar stretch that ended on June 6. Hong Kong’s Hang Seng Index rose 0.1 per cent to 25,997.03, snapping a five-day loss.Mainland stocks traded sideways for most of the day before closing lower again,… Source link

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Vietnam 

Industrial production gains stable growth in seven months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A graphic shows the nation’s industrial production in the January-July period. — VNA/VNS Photo  HÀ NỘI — Việt Nam’s index of industrial production (IIP) rose by 9.4 per cent year-on-year in the first seven months of this year, according to the General Statistics Office (GSO). GSO statisticians said the nation’s IIP ensured a stable growth of more than 9 per cent recorded since the beginning of this year. The processing and manufacturing sector, which accounts for nearly 80 per cent of domestic industrial production, reported a significant IIP increase of 10.7…

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Vietnam 

Estate market expected positive growth in year-end months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Apartment housing projects in HCM City. In the first seven months of 2019, the whole market shrank 34 per cent in size, including a 29-per cent fall in the project number and a 34-per cent decrease in the apartment supply. — Photo congthuong.vn HCM CITY — More positive signs would appear in HCM City’s property market in the year-end months despite difficulties in the first half of the year, said Chairman of the HCM City Real Estate Association Lê Hoàng Châu. At a seminar in HCM City earlier this…

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5G to stimulate US$500 billion in China tech growth over next five years, government researcher projects

The roll-out of 5G services across China is predicted to spur new growth in the country’s technology sector amid trade tensions with the United States, as industries meet the challenge of adopting advanced applications for the next-generation mobile infrastructure.At the Global Mobile Internet Conference held in the southern coastal city of Guangzhou on Saturday, a representative from the China Academy of Information and Communications Technology (CAICT) forecast that 5G will stimulate growth… Source link

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How China can reboot SOE reforms by following the Czech Republic growth story

It is often forgotten that China’s thinking in the 1980s about economic reform, including of state-owned enterprises, was heavily influenced by leading “reformist” Central European economists of the so-called market socialism school.However, serious reform of state-owned enterprises took off only in the mid-1990s under Zhu Rongji’s economic leadership, but this was much more radical than anything contemplated under market socialism. No doubt, this was influenced by the deep structural reforms… Source link

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