China 

China’s pork output falls amid African swine fever epidemic

China’s pork output fell by less than expected in the first half as the country tackled a devastating disease outbreak, although official data released on Monday showed conflicting figures on the extent of the decline in the hog herd.China produced 24.7 million tonnes of pork in the first six months of 2019, down 5.5 per cent from a year earlier, according to figures from the National Bureau of Statistics, amid an epidemic of African swine fever.The size of China’s hog herd – the world’s… Source link

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China 

Pentagon races to track US rare earths output amid trade war with China

The Pentagon is rapidly assessing the United States’ rare earths capability in a race to secure stable supply of the specialised materials amid the country’s trade war with China, which controls the rare earths industry, according to a government document seen by Reuters.The push comes weeks after China threatened to curb exports to the United States of rare earths, a group of 17 minerals used to build fighter planes, tanks and a range of consumer electronics.The Pentagon wants miners to… Source link

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China’s big three oil giants PetroChina, Sinopec and CNOOC to spend US$77 billion on boosting output from old fields

China’s oil giants aim to spend the most in five years in pursuit of higher energy output. But unlike global rivals investing in top-tier assets, the state-owned producers are trying to boost supply from fields that are either old and high-cost or new and challenging.China’s big three – PetroChina, Sinopec and CNOOC – are raising combined capital expenditure to about 517 billion yuan (US$77 billion), up 18 per cent from last year. That is almost back to levels seen before oil’s collapse in 2014… Source link

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China 

China economy slows further as industrial output growth slumps to lowest in a decade

China’s economy slowed further in the first two months of 2019 as the growth of industrial production fell to its lowest rate in a decade.Industrial production growth slowed to 5.3 per cent in January and February compared to the same period last year, down from 5.7 per cent growth in December, according to data released on Thursday by the National Bureau of Statistics (NBS). The result was below the 5.6 per cent expected by analysts in a Bloomberg survey.The January and February output growth… Source link

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Vietnam 

Pepper output to reach 200,000 tonnes this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A farmer in the southern Đồng Nai Province harvests pepper. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam’s pepper output this year would reach around 200,000 tonnes, according to the International Pepper Community (IPC). Output of black pepper was forecast at 175,000 tonnes, while the remainder would be white pepper. The IPC also predicted the pepper output of the world’s biggest exporters such as Việt Nam, Brazil, Indonesia and India in 2019 would be lower than last year. The Import-Export Department under the…

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Credit Suisse predicts steep fall in global smartphone output as demand and China economy slow

Global smartphone production in the first quarter of this year is expected to drop 19 per cent as major handset makers feel the effects of softer demand and weak consumer sentiment in China, according to a technology research report from Credit Suisse. Production volumes are expected to slow at Apple, Samsung and Chinese smartphone makers and “the bottom is not yet in sight,” according to Credit Suisse analysts, who revised down a previous forecast for a drop of 14 per cent to 19 per cent. Output of Apple Inc.’s iPhones…

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Impact of China’s tax-cut stimulus is estimated at US$300 billion, or 1.2 per cent of output, according to JPMorgan’s economists

China’s government is turning increasingly to tax cuts as the first line of defence against a slowing economy, in a departure from the wasteful infrastructure binges of the past. Further evidence of the shift emerged Tuesday, as senior policy officials pledged that tax reductions on a “larger scale” are in the pipeline, amid worsening economic data. JPMorgan Chase economists estimate the total impact will be around 2 trillion yuan (US$300 billion), or 1.2 per cent of gross domestic product. Last May the government cut value added taxes for manufacturing, transportation,…

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Apple suppliers to consider moving China iPhone output if tariffs hit 25 per cent

Apple Inc.’s suppliers will keep making iPhones in China if the US imposes tariffs on the devices – unless those levies skyrocket. Suppliers figure they can keep production in China at a 10 per cent tariff level but will consider shifting out of the country if the US moves to 25 per cent, according to people familiar with the matter. Apple and its partners are assessing their supply chains as the US and China fight over trade terms between the world’s two largest economies. iPhones – the majority of which…

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Vietnam 

Manufacturing sector output rises at near-record pace in November – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s Manufacturing Purchasing Managers’ Index (PMI) rose from 53.9 points in the previous month to reach 56.5 points in November, according to the latest survey from Nikkei’s IHS Markit, released on Monday. Manufacturing business conditions during November improved to one of the greatest heights in the near eight-year history of the survey. The consumer goods sector was the strongest performer of the three broad sectors covered in the latest survey period, witnessing the fastest rises in output, new orders and employment. New…

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Vietnam 

Vietnam Rubber Group to reduce output – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A worker harvests rubber latex at Cư Mgar Rubber Company in the Tây Nguyên (Central Highlands) province of Đắk Lắk. — VNA/VNS Photo Dương Giang Viet Nam News HÀ NỘI — The Vietnam Rubber Group (VRG) plans to reduce its output due to a sharp decrease in the price of rubber in the market after it is completely transferred to the Committee for State Capital Management (CMSC). A report from the Ministry of Agriculture and Rural Development showed that Việt Nam exported 1.06 million tonnes of rubber in…

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