Global 

China’s industrial profits bounce back in July, but long-term view remains negative amid trade war escalation

Profits at China’s large industrial firms recovered in July, posting year-on-year growth of 2.6 per cent, following a decline of 3.1 per cent in June.July’s growth was largely powered by the private sector, where industrial giants posted a 11.4 per cent rise in their profits. However, the broader picture shows that across the board, China’s industrial giants remain in relatively weak condition.For the year-to-date to July, total industrial profits were down 1.7 per cent, largely due to a long… Source link

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Home 

Why China needs to accelerate industrial internet efforts amid economic slowdown, trade tensions

China’s transformation into a services-driven economy is likely to accelerate as industrial internet developments gather pace across the country, according to a senior executive at venture capital firm Gobi Partners.Michael Zhu Lin, a managing partner at the firm, predicted that about 85 per cent of Chinese companies will establish cloud computing-based activities over time and that enterprise data generated would expand on par with the amount of information gathered from consumer-based… 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 

Shares slide, money flows into industrial sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

      Investors at a Maybank Kim Eng brokerage house. Việt Nam’s benchmark VN-Index decreased 0.88 per cent to close Tuesday at 964.61 points. — Photo tinnhanhchungkhoan.vn HÀ NỘI – Local shares continued to slide on Tuesday amid rising foreign net selling. On the Hồ Chí Minh Stock Exchange, the VN-Index decreased 0.88 per cent to close Tuesday at 964.61 points. On the Hà Nội Stock Exchange, the HNX-Index closed down 0.99 per cent at 101.89 points. Both stock indices also fell on Monday. Nearly 254 million shares worth total VNĐ9.1…

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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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China 

China’s industrial profits fall 3.1 per cent in June, as fears of trade war slowdown grow

Profits earned by China’s industrial firms slipped in June after a brief gain the previous month, fuelling concerns that a slowdown in manufacturing caused by the trade war with the United States will weigh on economic growth.China’s industrial profits have been in decline since the second half of last year, with many firms putting off business decisions and scaling back manufacturing investment.Economic growth in the second quarter of this year slowed to a near 30-year low.Industrial profits… Source link

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China 

US trade war has cost China almost 2 million industrial jobs, CICC research shows

China has lost 5 million jobs in the industrial sector in the last year, including 1.8 to 1.9 million due to the trade war with the United States, a leading Chinese investment bank estimated on Wednesday.The total job losses represent 3.4 per cent of total employment in the industrial sector, which includes mining, manufacturing and public utilities, and 0.7 per cent of total national employment, said China International Capital Corporation (CICC) economists Liang Hong and Yi Huan.The decline… Source link

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Vietnam 

HCM City industrial production slows down – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A supermarket in HCM City. The city’s total retail sales of goods and services increased by 12.7 per cent in the first half of the year. — VNS Photo HCM CITY — HCM City’s industrial production grew by 7 per cent in the first half of the year, almost exactly the same as a year ago, according to the city Department of Industry and Trade. However, the index of industrial production (IIP) of the city’s four key sectors, food processing, chemical–rubber-plastics, mechanics, and electronics, saw an increase of 5.5 per cent, much lower…

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Vietnam 

VN industrial market seizes opportunities from the automotive sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An automotive aircon manufacturing company in the Thaco Industrial Zone. The domestic auto industry offers more opportunities for Việt Nam’s industrial market. —Photo cafef.vn HÀ NỘI — The development of the domestic auto industry offers more opportunities for Việt Nam’s industrial market, according to the consulting firm CBRE Vietnam. The automotive industry in Việt Nam is still underdeveloped in terms of manufacturing compared to other ASEAN countries, but the accumulation of industrial land banks for this industry has been increasing. Lê Hiếu, CBRE Vietnam’s Director of Office, Industrial and Logistics…

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Vietnam 

City eyes boost to key industrial products – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Key industrial products on display on the sidelines of a meeting held in HCM City recently. The city is keen to boost the development of certain key industrial products. — VNS Photo HCM CITY — HCM City is offering support in the form of financial assistance, land, workforce training, technology, trade promotion, and brand building assistance to businesses making key and promising industrial products, according to its Department of Industry and Trade. The city has identified seven key industrial product groups — moulded metallic products such as high-precision…

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