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Dutch insurer Aegon sees digital distribution as the path to growth in China and rest of Asia

Aegon hopes to attract new customers in Asia by tapping into something that is never far from consumers’ eyes and almost always on: their mobile phones, the Dutch insurer’s regional chief executive said.It is partnering with the likes of mobile payment providers MobiKwik in India and Ant Financial’s Alipay in China to reach new customers in the world’s fastest developing region for the insurance industry. Ant Financial is an affiliate of Alibaba Group Holding, the parent company of the South… Source link

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Vietnam 

Denim production needs green growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A booth at the Denimsandjeans Việt Nam exhibition. The denim production sector has high growth potential and is seeing more and more investors, experts say. – VNA Photo Mỹ Phương HCM CITY – Denim production in Việt Nam has high growth potential and is attracting more and more investors, but green production in the textile and garment industry is essential to protect the environment, experts said at a conference in HCM City on Thursday. Nguyễn Thị Tuyết Mai, general secretary of the Việt…

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Chinese stocks cap worst performance this week on growth fears, flood of tech IPOs

China’s stocks dropped by the most this week as concerns mounted that a recovery in growth will falter and supply of new shares will accelerate after a ceremonial launch of a new board to host technology companies.The Shanghai Composite Index fell 1 per cent to 2,881.97 on Friday, trimming the week’s gain to 1.9 per cent. Hong Kong’s Hang Seng Index fell 0.7 per cent to 27,118.35 for a third straight day of losses, as one of the top advisers to the city’s leader suggested lawmakers will delay a… Source…

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Amid the trade war, Asia cannot count on Chinese stimulus to boost growth this time around

The resurgence of US-China trade tensions is weighing on equity market performance in emerging Asia. This begs the question of whether prospective monetary and fiscal stimulus measures from China could give the region the needed boost – but markets would be wrong to pin their hopes on this.Recent data flow paints a weak picture of the economic fundamentals in the region. In China, the official manufacturing purchasing managers index, which gauges sentiment among factory operators, for May came… Source link

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China 

China economy slump goes on in May, with industrial growth lowest in 17 years amid US trade war escalation

Shoppers and pedestrians walk past stores in the Sanlitun area of Beijing, China, on Saturday, Nov. 3, 2018. As exporters feel the heat of the trade war, China’s powerful domestic-consumption engine was supposed to provide some protection for investors in the nation’s stocks. That is not working out so well. A narrative that is captured traders’ attention in recent weeks has been a “consumption downgrade” in the world’s second-biggest economy. Photographer: Gilles Sabrie/Bloomberg Source link

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China 

Trade war could cause global recession, Beijing official warns, as US investment growth in China sinks

May’s escalation in trade tensions led to a sharp drop off in the growth of American investment in China, according to data released on Thursday, which highlighted the chilling effect the trade war is having on investor confidence.The data release from the Chinese Ministry of Commerce (Mofcom) showed that US investment in China grew 7.5 per cent between January and May, year on year, a much slower pace than the 24.3 per cent recorded between January and April and also significantly lower than… Source link

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Chinese stocks post biggest gain in month on fiscal stimulus to shore up growth

China’s stocks climbed the most in a month on signs policymakers were ramping up fiscal tools to hold in check a decline in growth just before the release of key economic data.The Shanghai Composite Index rallied 2.6 per cent, or 73.59 points, to 2,925.72 on Tuesday, its biggest gain since May 10. Hong Kong’s Hang Seng Index rose 0.8 per cent to 27,789.34.Signs have been mounting that Beijing has been stepping up efforts to arrest a deceleration in economic growth. The finance ministry said on… Source link

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Vietnam 

Việt Nam to shape growth strategy for next decade – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam is confronting a rapidly ageing population, tepid productivity and sluggish investment growth which weigh on the country’s medium-term growth potential. — Photo petrotimes.vn HÀ NỘI – Việt Nam would have to push ahead with bold reforms in institutions, human resources, infrastructure and innovation for better quality growth in the next ten years, experts have said. The Government is shaping a socio-economic development strategy for 2021-30 and a development plan for 2021-25. The next ten-year plan will focus on quality growth, targeting fast but green and inclusive development, and building a modern…

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Vietnam 

Convenience retail channel hits record growth rates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers shop at a convenience store in HCM City. Photo sggp.org.vn HCM CITY — As consumer demand for convenience soars across Southeast Asia, convenience retail channels are experiencing record growth rates and higher rates than any other retail channel, according to a new study by global measurement company, Nielsen. What’s Next for Southeast Asia, which explores the changing FMCG retail landscape and consumer needs, highlights that FMCG sales growth in convenience stores across Southeast Asia reached 8.3 per cent last year. Malaysia saw the strongest growth in the region (up 17 per…

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China 

China’s 2019 economic growth forecast cut by IMF as risks and uncertainties of US trade war remain

China’s 2019 economic growth forecast has been cut from 6.3 per cent to 6.2 per cent by the International Monetary Fund with the world’s second largest economy still facing downside risks and uncertainty over the trade war with the United States.The downgrade came after the fund paid a visit to Beijing and the western province of Guizhou for intensive discussions with Beijing’s policymakers during its annual assessment of the country’s economic and financial health. It was merely two months… Source link

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