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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Global 

In China’s industrial hinterlands, state subsidies run deep and appetite for reform is low despite US demands

Deyang, a city of 3.6 million people in Sichuan province, is home to one of China’s most infamous SOEs, China National Erzhong, a giant machinery manufacturer that became a poster child for the inefficiencies of bloated heavy industry sectors. Photo: Weibo Source link

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Vietnam 

Việt Nam’s industrial production rises 9.4 per cent in five months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Processing fish for export at An Giang Fisheries Import and Export Joint Stock Company (Agifish). Supply chains are shifting to Southeast Asia due to the region’s growing economies and consumer markets, according to a report from HSBC. — VNA/VNS Photo Phạm Hậu HÀ NỘI – Việt Nam’s industrial production index (IIP) rose 9.4 per cent in the first five months of 2019, driven by growth in the processing and manufacturing industry, power production and distribution, and water supply and waste treatment, data from the General Statistics Office (GSO) showed.…

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China 

Inside China's state-owned industrial park in Vietnam, Beijing’s image trumps trade war profits

Until the middle of 2018, business was slow for the only Chinese state-owned industrial park in Vietnam, located in the northeastern manufacturing hub of Haiphong and wholly-owned by the Shenzhen city government.US President Donald Trump’s tariffs on Chinese goods enacted last year changed that, with 16 of the 21 Chinese companies that have relocated to the China-Vietnam (Shenzhen-Haiphong) Economic and Trade Cooperation Zone – many of them electronic device manufacturers – having done so since… Source link

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Home 

Mainland developers take a shine to Hong Kong industrial property

Chinese developers are eyeing Hong Kong’s revitalised industrial property market, which has been traditionally dominated by local investors, as they see high potential for price growth in the world’s least affordable housing market.The value of industrial properties sold to mainland developers or investors totalled HK$2.32 billion (US$295.56 million) in 2018, reflecting a rise of 44.3 per cent from a year earlier, excluding revitalised buildings which underwent complete conversion, according to… Source link

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China 

China’s industrial profits post biggest drop in nearly three and a half years

Chinese industrial profits slumped at their fastest pace in nearly three and a half years in April, the last month before the sudden escalation of the trade war with the United States, underscoring the continuing downturn in pressure on the world’s second largest economy and the challenge faced by policymakers to keep economic growth on track.Industrial profits stood at 515.39 billion yuan (US$74.7 billion) last month, down 3.7 per cent compared to a year earlier, the largest percentage decline… Source link

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Ecommerce 

Yunnan’s digital makeover showcases Tencent’s industrial internet ambitions for government and business

Yunnan, the ancient province in southwestern China famous for hand-picked tea, snow-capped mountains and the mystical hidden paradise of Shangri-La, is undergoing a digital makeover.Facial recognition is deployed at the gates of tourist attractions to facilitate faster entry and sensors are installed along highways for instant toll payments without the need for drivers to slow down or stop. Tourists can skip the queues by buying tickets online, watch live videos of crowds at sites to better… Source link

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Home 

Industrial and Commercial Bank of China tops Forbes’ Global 2000 list for seventh year, while ‘Made in China 2025’ sectors languish

China’s biggest banks have shrugged aside the gloom of its escalating trade war with the United States to dominate an annual list of the world’s biggest listed companies compiled by Forbes.Industrial and Commercial Bank of China (ICBC), one of the country’s “Big Four” banks and the world’s largest lender by assets, has been ranked top for the seventh consecutive year by the Global 2000 list, itself in its 17th edition. The Big Four as well as Ping An Insurance are all in the top 10.US bank… Source link

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Vietnam 

Businesses to work with universities on high-tech development of key industrial products  – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Speakers at a meeting in HCM City on Tuesday discuss ways to use high technology to develop key industrial products. VNS Photo Bồ Xuân Hiệp   HCM CITY — Enterprises should cooperate with universities and research institutes on high-tech solutions to develop the city’s key industrial products, experts have said.   Nguyễn Kỳ Phùng, deputy director of the city’s Department of Science and Technology, said HCM City had issued policies on key industrial products that would support research and technology development, commercialisation of research results, technology transfer, and incubation of innovation projects. The city had also strengthened innovation…

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Home 

Escalating trade war a boon for Thailand industrial property as Chinese manufacturers shift production overseas

Thailand’s industrial property sector is profiting from the US-China trade war, as mainland Chinese manufacturers shift production to Southeast Asia in an attempt to avoid escalating tariffs.Chinese foreign direct investment (FDI) into the sector rose last year by 31.7 per cent to US$233 million, after declining by 15.7 per cent in 2016-17, according to Bank of Thailand data. In the same period, total FDI into Thailand skyrocketed by 130.5 per cent year on year, after rising by two-thirds in… Source link

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