China 

Apple said to ask suppliers, including Foxconn, to explore major shift out of China to Southeast Asia

Apple has asked its largest suppliers to consider the feasibility of shifting 15 to 30 per cent of its output from China to Southeast Asia in a dramatic shake-up of its production chain, the Nikkei reported.The US tech giant asked “major suppliers” to evaluate the cost of such a migration, the newspaper cited multiple sources as saying. Those included iPhone assemblers Foxconn Technology Group, Pegatron and Wistron, MacBook maker Quanta Computer, iPad maker Compal Electronics and AirPods makers… Source link

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China awards 5G licences to country’s major telecoms network operators and cable network giant

China’s Ministry of Industry and Information Technology (MIIT) on Thursday granted commercial 5G licences to the country’s three telecommunications network operators and the nation’s cable network giant, signalling major new investments in the world’s largest mobile market amid a raging tech war with the United States.Hong Kong-listed carriers China Mobile, China Unicom and China Telecom, as well as China Broadcasting Network, were each awarded a licence to run commercial 5G services, according… Source link

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Vietnam 

Major projects languish as speculators abandon land plots – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A deserted area in a real estate hotspot in HCM City’s District 9. — Photo cafeland.vn   HCM CITY — Property speculation and a lack of roads and facilities such as hospitals, schools and shopping malls have led to a number of so-called “deserted towns” in real estate hotspots in HCM City.   In recent years, a number of huge residential and urban projects have attracted investment in districts 9, 2, 12 and Cần Giờ District. However, most of the areas, located in spots where so-called land fever has occurred,…

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Police arrest Kangde Xin’s major shareholder in a show of force to support regulator’s crackdown on corporate malfeasance

Chinese police arrested the owner of a company on the Shenzhen Stock Exchange on Sunday, a show of force after the securities regulator pledged to crack down on malfeasance to force the country’s listed companies to improve their corporate governance.Zhong Yu, the 69-year-old former chairman and controlling shareholder of Kangde Xin Composite Material Group, was arrested on Sunday, the public Security Bureau of Zhangjiagang city in eastern China’s Jiangsu province announced via its Sina Weibo… Source link

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US tariff threats rattle US stock markets, with major indexes all enduring sell-offs

Threats and deadlines in the US-China trade war caught up with US stock market investors on Tuesday, as they sold off shares on escalating concerns a deal will not materialise between Washington and Beijing by a Friday deadline.US President Donald Trump’s threat to further raise tariffs on $200 billion worth of Chinese goods imported into the United States to 25 per cent – from the 10 per cent rate they are now subject to – sent the benchmark Standard & Poor’s 500 index and the Dow Jones… Source link

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US tech major Oracle said to begin mass lay-offs in China as part of global move to cloud services

US tech major Oracle has kicked off mass lay-offs in China that could involve hundreds of employees as part of a global headcount reduction program, according to a local media report citing people familiar with the situation.The Silicon Valley-based company said it would cut jobs at its China research and development center in an internal meeting on Tuesday, with an estimated 500 jobs in Beijing expected to go first, according to the report from mainland business newspaper 21st Century Business… Source link

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Vietnam 

Major wood factory opens in Hà Tĩnh province – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Deputy Prime Minister Vương Đình Huệ (centre) attends the inauguration of the wood processing plant in Vũ Quang District, Hà Tĩnh Province, yesterday. VNA/VNS Photo Hoàng Ngà HÀ TĨNH — A medium density fibreboard (MDF) factory that is considered the biggest of its kind in the central region of Việt Nam was inaugurated in Vũ Quang District of Hà Tĩnh Province on Sunday. The inauguration ceremony included the presence of Deputy Prime Minister Vương Đình Huệ. The factory covers 18ha of land at the industrial cluster of Vũ Quang District.…

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Volkswagen’s new chief is betting carmaker’s future on his major push into China’s market, as trouble looms on the home turf

A year into his tenure, Volkswagen Chief Executive Officer Herbert Diess is entering critical months as he seeks to craft a review of VW’s sprawling Chinese operations while containing tensions at home in Germany.“China emerged as a powerhouse of the automotive industry,” Diess told reporters late Sunday at a presentation near Shanghai. The country is expanding its role as a production hub and VW will also allocate more research and development operations to China, he said.China plays a key… Source link

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Former Hong Kong airport site sells for low end of expectations, signalling caution as major developers scout for residential land

The largest residential site at Hong Kong’s former Kai Tak airport has been sold to a consortium of five major developers including Henderson Land Development and Wheelock Properties for HK$9.89 billion (US$1.26 billion), matching the low end of expectations as developers adopt a cautious market outlook.The Lands Department awarded the tender for the plot, which can yield 722,060 sq ft in gross floor area, to Infinite Sun on Tuesday.Other members of the alliance include China Overseas Land &… Source link

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China’s local government debt a major risk as Beijing allows more borrowings to boost growth, says renown academic

China is unlikely to be the centre for the next financial crisis but the increase in local government debt as Beijing allows more borrowings to bolster growth will be a major risk, warned a renowned academic in capital markets in the country.Professor Wu Xiaoqiu, vice-president of Renmin University of China, said the level of local government debt was close to a “boiling point”.To arrest a slowing economy, the central government is not only allowing the regions to sell more debt to fund local… Source link

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