China 

China's January passenger car sales in biggest drop in seven as worries over economy, spending deepen

China’s passenger car sales fell 17.7 per cent last month from a year earlier to 2.02 million units, marking the lowest January sales since 2012.Data from the China Association of Automobile Manufacturers showed that there was a 15.8 per cent decline in total vehicle sales in China in January to 2.37 million units.It is the seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth.Global carmakers such as… Source link

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Global 

Singapore’s January exports to China collapsed in ‘very worrying’ development for both economies

Singapore is feeling the pinch of China’s economic slowdown as exports to the mainland collapsed in January.Non-oil exports to China showed a dramatic fall in January, crashing by 25.4 per cent, while Singapore’s oil exports to China plummeted by 30.8 per cent, showing a broad-based decline, and sparking concern about the economic prospects of both nations.Sales of gold to China collapsed by 94.9 per cent, while specialised machinery exports fell 55.2 per cent and measuring instruments fell 40… Source link

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China 

China’s loans hit all-time high as banks open floodgates in January to help slowing economy

New loans in China surged to an all-time high in January, highlighting Beijing’s scramble to bolster economic activities at home amid the trade war with the United States. The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. The figure almost tripled the 1.08 billion yuan (US$159.48 million) of loans in December, while also beating the 1.6 trillion yuan (US$236.27 billion) of loans issued in January 2009 when Beijing looking to put growth on track…

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China 

US exports to China plunged in January as trade war chill took effect

Trade flows between China and the United States are shrinking quickly as officials scramble for a deal that would end the trade war. Chinese imports of US products plunged 41.1 per cent from a year earlier to US$9.2 billion last month, the lowest since February 2016, according to data released by the Chinese General Administration of Customs on Thursday. The fall in US exports to China contrasted sharply with the China’s overall imports last month, which remained largely steady with only a 1.5 per cent fall year-on-year. According to Chinese…

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China 

US investment in China more than doubles in January despite trade war, hi-tech industry grows significantly

Investment into China from the United States more than doubled in January, with the hi-tech industry witnessing the most significant increase. Overall growth in China’s foreign direct investment (FDI) slipped to 4.8 per cent from a year earlier to 84.18 billion yuan (US$12.45 billion) in January, according to figures released by the Ministry of Commerce on Thursday. Investment from the United States increased by 124.6 per cent, while the Netherlands by 95.6 per cent, the United Kingdom by 13.7 per cent and Hong Kong by 6.5 per cent also increased.…

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China 

China’s exports shot up dramatically in January, despite US-China trade war

China’s exports shot up unexpectedly in January, as front-loading of orders ahead of the Lunar New Year holiday helped bolster the trade sector. Data from China’s General Administration of Customs released on Thursday showed that January’s exports rose 9.1 per cent from a year earlier, beating a median forecast of economists by Bloomberg, which had predicted a 3.3 per cent decline. It is a significant improvement on December, when exports fell by 4.4 per cent, and will offer some comfort to policymakers in Beijing, as the US-China trade war continues…

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Vietnam 

January budget revenue rises 7.5 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

January budget revenue was estimated to be VNĐ144.6 trillion (US$6.15 billion), representing a rise of 7.5 per cent over January 2018. – Photo vneconomy.vn Viet Nam News HÀ NỘI — State budget revenue was estimated at a total of VNĐ144.6 trillion (US$6.15 billion) in January, representing a rise of 7.5 per cent over the same month of 2018. The month’s budget collection was equivalent to 10.2 per cent of the target for the full year. According to the latest report from the Ministry of Finance, domestic revenue…

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Home 

Country Garden, China Evergrande and China Vanke among developers reporting decline in January home sales

Mainland Chinese property developers have reported a decline in home sales for January, in a sign the Year of the Pig could be in for a rocky start. According to property consultancy CRIC, more than 30 per cent of the mainland’s top 100 developers posted a year-on-year drop in housing contract sales, or presales of unfinished homes, for the first month of 2019. Among these, 13 reported a more than 30 per cent decline in sales. Buoyed by easing, expected end to Fed rate hikes, China developers issue US$8.6 billion…

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Home 

Hong Kong’s compulsory provident scheme makes positive start to year with 3.95 per cent return in January

Hong Kong’s compulsory pension scheme turned its best performance in a year on the back of a strong stock market rally in the US and Hong Kong, generating an average return of 3.95 per cent in January, according to data from Lipper Refinitiv. The Mandatory Provident Fund lost 8.21 per cent in 2018 – its worst year since 2011 after starting the previous January with gains of 4.4 per cent. The MPF, which covers 2.8 million people in Hong Kong, had its best year in 2017 with gains of 20.9…

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Vietnam 

Việt Nam PMI posts moderate growth in January – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The start of 2019 saw moderate growth in the Vietnamese manufacturing sector, according to a Nikkei report released on Friday. According to the report, Việt Nam’s Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – posted 51.9 in January, thereby signalling a modest strengthening of business conditions in the sector. The reading was down from 53.8 in December to the lowest since last September, but growth has now been registered in 38 successive months. The report…

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