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China’s furniture makers hope for trade war’s end as US orders ‘disappear’ following the 25 per cent import tariff

Chinese furniture makers, hard hit by a higher tariff on exports to the US last month, see a ray of hope from the apparent trade detente between the world’s two largest economies following the G20 summit in Japan last month.The agreement between US and Chinese officials to resume economic and trade negotiations has been welcomed by furniture makers who say their US buyers have practically disappeared since their goods were subject to a 25 per cent levy on June 1. The tariff replaced a 10 per… Source link

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Bond Connect adds new features and ‘market makers’ to give foreign investors greater access to China’s US$9 trillion bond market

A scheme designed to give overseas investors and those in mainland China access to each other’s bond markets celebrated its second anniversary on Wednesday, with the announcement of new features and “market makers” to boost trading.Gao Fei, deputy inspector at the People’s Bank of China, unveiled the plans to further open up China’s bond market in a speech to hundreds of bankers and traders at the Bond Connect Anniversary Summit 2019, held at the headquarters of bourse operator Hong Kong… Source link

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Here’s how American chip makers pressed Trump’s administration to ease US export controls for Huawei Technologies

President Donald Trump’s decision to allow US companies to continue selling to Huawei followed an extensive lobbying campaign by the US semiconductor industry that argued the ban could hurt America’s economic and national security.In multiple high-level meetings and a letter to the Commerce Department, the companies argued for targeted action against Huawei Technologies instead of the blanket ban the Trump administration imposed in May. That includes identifying specific technologies that the… Source link

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Hong Kong’s craft beer makers look overseas for new markets

Stressed by high rents and a highly competitive domestic market, Hong Kong’s leading local brewers are now aggressively pursuing export markets around Asia, and in some cases to Europe and the US.Patrick Gatherer, general manager of The Globe, one of Hong Kong’s best known bars for promoting craft beer, said local brewers have developed a level of reliability and quality suitable for bigger business aims.“Some of them are breaking away from the pack,” said Gatherer.Exact numbers on the nascent… Source link

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Global 

Taiwan’s bike makers bank on e-bikes to power them to the top in wake of US-China trade war

Set to a rhythmic soundtrack of clacking machinery, whirring drills and inflating tyres, bikes take shape at a factory run by Taiwan’s Giant, which is leading the island’s push to regain its crown as bike maker to the world.And key to this push is demand for electronic two-wheelers from environmentally conscious European consumers, with surging exports providing support during the China-US trade war.At an assembly line near the central city of Taichung, workers for Giant – the world’s biggest… Source link

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Global 

China’s robot makers are hooked on subsidies, highlighting another red line in US-China trade war

Prospects of China and the US securing a deal to end the trade war are dwindling. This is the fifth in a series of long reads examining the elements of any deal that Beijing would be willing to agree to, those that are considered achievable in the long run, as well as the red lines, on which Beijing is unlikely to ever budge. Part five focuses on the complex issue of state subsidies for China’s hi-tech industries.If Beijing’s phasing out of references to “Made in China 2025”, the ambitious… Source…

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Stocks Blog: China markets fall as Trump targets mainland surveillance camera makers

Good morning, traders. China’s surveillance camera sector is now in the Trump spotlight. In addition to Hikvision Digital, which fell yesterday on news reports it was being targeted, Megvii, Zhenjiang Danhua Technology, Meiya Pico and Iflytek could be banned from U.S. components or software, Bloomberg reports. We’ll keep you up on the fallout in markets from the new tech storm added to the tariff tornado, plus the latest on rare earth-linked stocks, which are getting a new boost from… Source link

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Ecommerce 

China offers five-year tax breaks to chip makers, software developers to bolster industry as trade war stretches to tech

China will give a five-year tax break to its home-grown semiconductor makers and software developers in a bid to bolster the industries as the trade war shifts to an assault on Chinese technology.Integrated circuit makers and software companies will be exempt from paying corporate taxes for two years, starting in 2019, and their tax payments will be halved from the 25 per cent universal rate levied on Chinese companies in the following three years, the finance ministry said on its website on… Source link

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US chip makers cautiously look past tariff woes amid lingering soft demand

US semiconductor companies have grown cautiously optimistic that demand in China for their products will strengthen amid hopes that an end to the tariff battle between the US and the Asian nation may be in sight. But immediate soft demand continues to linger.Executives from Intel, Qualcomm, ON Semiconductor and other chip makers that reported quarterly earnings in the past week have said in calls with Wall Street analysts that they have largely moved past trade war worries that had weighed… Source link

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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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