China 

China’s exporters of Donald Trump wigs and American flags ‘had no idea’ they face higher trade war tariffs

On Tuesday, US President Donald Trump was greeted by the Louisiana Lieutenant Governor Billy Nungesser, who proudly brandished socks featuring the president’s face and distinctive hair.The socks were manufactured by Gumball Poodle, a California-based company, whose website proudly states: “All our socks are proudly made in the USA.”However, users of the Chinese e-commerce portal Alibaba can buy almost identical socks in bulk from Yiwu Hodeang E-Commerce, a Chinese manufacturer who said he ships… Source link

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Global 

China economy slows sharply in April, even before higher US trade tariffs take effect

China’s economy looked to have slowed sharply in April, the last month before new US trade war tariffs take effect, with both industrial production and retail sales growth posting significant declines.The big picture to be gleaned from Wednesday’s data dump is that China’s economy is losing the momentum it gained in the first quarter, at a time when it is being sucked into an ever-intensifying trade war with the US. Over the past week, the world’s two largest economies have exchanged tit-for… Source link

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Global 

Chinese exclusion process is aimed at limiting domestic damage caused by higher tariffs on US imports

China has, for the first time, used a process that would exclude some US imports from higher tariffs to spare consumers and producers at home the worst of the punitive measures while leaving room for negotiations between the two countries.The process, six months in the making, was modelled on one used by the US before tariffs were imposed, with one major difference – there are no public hearings involved in the Chinese process.A three-page preliminary regulation document was released on Monday… Source link

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Home 

Shares in Chinese health care firms, beer and liquor makers set to benefit from higher weighting in MSCI global benchmarks, says HSBC

Shares in Chinese health-care firms, beer and fiery liquor makers are likely to get a boost when the MSCI quadruples the weighting of the country’s stocks in its global benchmarks, according to fund managers at HSBC’s investment arm.The index compiler announced plans to boost the representation of Chinese stocks on February 28, raising the inclusion of yuan-traded shares – known as A shares – to 20 per cent from the current 5 per cent by November.“We are quite positive about health-care… Source link

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China 

China’s industrial profits glow amid higher prices and sales

Profits at China’s industrial firms made their biggest gains in eight months in March in the latest sign that the economy is stabilising in response to Beijing’s stimulus and as hopes rise for a deal in the trade war with the United States.Industrial profits rose by 13.9 per cent year on year in March to 589.52 billion yuan (US$87.5 billion) in the biggest increase since July, and rebounding after four months of contraction, the National Bureau of Statistics said on Saturday.The bureau said the… Source link

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Home 

Founder Ren Zhengfei says Huawei should learn from Apple – and set higher prices

Ren Zhengfei, founder and chief executive of Huawei Technologies, said the company should learn from Apple to set higher prices so that “competitors will be able to survive”, as the Chinese firm remains on the defensive against US accusations that its products could be used for spying.Huawei, the world’s largest telecommunications equipment supplier, has long been criticised for undercutting rivals by offering its products at cheaper prices to win contracts. Now, Huawei is refuting claims that… Source link

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Vietnam 

Banks target higher business goals, raising charter capital in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Transactions at a Vietinbank’s branch. — Photo vietnambiz.vn HÀ NỘI – Several banks approved their 2019 business targets and plans for raising capital in annual shareholders’ meetings on Tuesday. Vietibank (CTG), Việt Nam’s biggest bank by asset value, aims to hike its total assets by 2-5 per cent in 2019; total outstanding loans to rise by 6-7 per cent; total deposits to grow by 10-12 per cent; and bad debt below 2 per cent. The lender’s consolidated pre-tax profit is expected to reach VNĐ9.5 trillion (US$407.7 million) by end-year, up 41 per…

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Vietnam 

Bình Dương, Đồng Nai expect higher growth in wood products with CPTPP – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Wood processing in Bình Dương Province. – VNA Photo Thanh Vũ   BÌNH DƯƠNG – Bình Dương and Đồng Nai provinces, which have the highest export growth rate and number of businesses in the wooden products sector, are poised to take advantage of the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The province has around 1,215 wood processing businesses, with 905 of them domestic firms with VNĐ10.8 trillion (US$469.6 million) of registered funds, and 310 foreign companies with a total of US$2.3 billion, according to Bình Dương’s Department…

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Property 

Hong Kong’s pre-owned housing market rips higher, as analysts warn of pause ahead

The recent uptick in the secondary market where buyers kept snapping up homes costing less than HK$6 million (US$765,267) in major estates is expected to take a breather in coming weeks as prices near their previous peaks, analysts said.“The recent rise in home prices has been quite fast, accumulating solid increases. Also, a number of bargains in the market have been snapped up and homeowners have kept asking prices firm,” said Willy Liu, chief executive of Ricacorp Properties.Ricacorp said it… Source link

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Home 

Shanghai Commercial Bank’s 2018 profit up 17 per cent on higher interest income, forfeited Hong Kong Life deposit

Shanghai Commercial Bank said on Tuesday that its profit rose 17 per cent in 2018, driven by higher interest income, particularly in the US, and an “extraordinary contribution” resulting from the failed sale of Hong Kong Life Insurance.The bank, which went private in 2017, reported a profit of HK$2.85 billion (US$363 million) for the year ended December 31, up from HK$2.43 billion a year earlier.“In the year ahead, the bank will take a more cautious approach to preserve good credit quality and… Source link

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