Vietnam 

Long An aims for 9.6% GRDP growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A factory in Long An Province’s Long Hậu Industrial Park. The province is aiming forGRDP growth of 9.6 per cent in 2019. – VNA Photo Thanh Vũ Viet Nam News LONG AN – Long An Province aims for a Gross Regional Domestic Product of 9.6 per cent and a GRDP per capita of VNĐ74 million (US$3,184) for 2019. Agriculture, forestry and fishery are expected to grow by 1.5 per cent, industry and construction by 14.7 per cent, and commerce and services by 7.2 per cent, while food output…

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China 

How could a sharp slowdown in China affect growth prospects for the rest of Asia?

The threat of a sharper-than-expected economic slowdown in China could damage Asia’s growth prospects, according to analysts. While optimism is rising over continuing trade talks between the United States and China, they have yet to reach a deal and remain far apart on key structural issues. If the conflict were to intensify, China’s challenge would be to cushion its economy from a fall. China’s latest data on foreign trade, GDP growth and the purchasing managers’ index suggests the economy will continue to slow, at least for the next month or…

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Home 

Singapore reports lowest GDP growth in two years as trade ministry warns manufacturers may be vulnerable

Singapore’s economy grew at its slowest pace in more than two years in the fourth quarter, data showed on Friday, and the city state’s trade ministry warned that manufacturing is likely to face significant moderation this year. Weakening growth momentum for Singapore’s open economy – a hi-tech manufacturing base and transportation hub – underscores the risks to Asia’s export economies from a slowdown in China and Beijing’s trade war with Washington. Singapore’s growth pace is expected to slow in 2019 as manufacturing “is likely to see a significant moderation,” trade…

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Home 

Chinese surveillance camera supplier Hikvision posts slowest profit growth in a decade

Hangzhou Hikvision Digital Technology, a key camera supplier for China’s surveillance system, reported the slowest annual pace of profit growth in more than a decade amid growing headwinds in overseas markets. Net income in 2018 rose 20.5 per cent to 11.3 billion yuan (US$1.76 billion), the Hangzhou-based company said in a filing to the Shenzhen Stock Exchange on Thursday. Revenue climbed 23 per cent to 51.2 billion yuan. The company said it maintained a high level of investment into research development while continuing to develop domestic and overseas markets. Its…

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Home 

Russian gas exports will spark ‘explosive’ growth in underserved northeast, says China’s largest distributor

China’s underserved northeast will record “explosive” growth in consumption when Russian gas finally arrives next year in the region, the country’s only area not serviced by a natural gas trunk pipeline. “In the next decade, the northeast will see explosive growth because, currently, only limited gas is imported from Qatar via a terminal in Dalian in [China’s northeastern] Liaoning province. And supply from small gas fields in [China’s northeastern] Heilongjiang province are far from enough to meet demand,” Frank Li Yuntao, general manager of investor relations at Hong Kong-listed China…

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Home 

Tariff hikes won’t affect US, which is poised for longest period of economic growth since 1785, says Indosuez economist

The United States, the world’s largest economy, is poised to see its longest period of economic growth since 1785, if there is no recession through July this year, according to Marie Owens Thomsen, global head of investment intelligence at Indosuez Wealth Management, the private banking arm of French financial services firm Credit Agricole Group. Tariff hikes from its trade war with China are unlikely to tip its economy into recession, as long as its trading volume keeps growing, she said. The previous longest US expansion was 120 months long, between…

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Money 

China’s wealth gap widens as more than half of its provinces missed growth targets

China’s economic development gap is widening with tougher times looming after more than half of its provinces missed their economic growth targets last year and the effects of the trade war with the US taking a toll on the domestic economy. Seventeen of 31 Chinese provincial-level divisions failed to meet their gross domestic product growth rate goals in a year where the national economy expanded at 6.6 per cent, its slowest pace in 28 years, according to a review of local annual economic reports by the South China Morning Post.…

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Home 

China’s Lunar New Year spending growth slows to decade low despite record US$148.96 billion sales

Sales growth in China during the seven-day Lunar New Year Holiday slowed to the lowest rate in a decade this month, questioning if the government can unleash the country’s domestic growth potential to counter the slowdown in the economy. National retail and catering revenue rose 8.5 per cent during the holiday to 1.005 trillion yuan (US$148.96 billion), the Ministry of Commerce said on Sunday. But even though the overall sales figure reached a record high, the growth rate fell from the 10.2 per cent witnessed last year to the lowest…

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China 

China’s Nantong dreams big with infrastructure projects to drive growth in economic downturn

On a smoggy day in Nantong, an industrial town bordering Shanghai, workers are building the world’s longest railroad steel arch bridge, part of a multibillion-dollar investment to form a new economic zone around China’s financial hub. The Hutong Yangtze River Bridge will measure 11,072 metres in length, or four times that of the Golden Gate Bridge in San Francisco, and is expected to be completed this year. While Nantong, 150km north of Shanghai in the eastern Jiangsu province, may not be the most well-known city in China, it is betting…

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China 

China’s bid to boost economic growth will do more harm than good | This Week In Asia

The 6.6 per cent rate of growth in China’s gross domestic product in 2018 is the lowest increase since 1990, when sanctions imposed by the West in response to Beijing’s violent crackdown in Tiananmen Square meant it grew just 3.9 per cent. China’s economic growth has been steadily decelerating over the past decade, ever since its high of 14.2 per cent in 2007. The downward trend picked up pace quarter by quarter last year. It was 6.8 per cent in the first quarter, 6.7 in the second, and 6.5 in…

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