China 

HSBC helps China’s manufacturers expand their production lines in Southeast Asia to dodge trade war tariffs

HSBC, the largest lender in Hong Kong and Europe, said it is offering a lifeline to business clients looking to shield themselves from the full force of the US-China trade war by expanding their production facilities in Southeast Asia.With the trade spat between the planet’s two biggest economies intensifying, a growing number of manufacturers in mainland China are looking to build additional factories in Malaysia, Thailand, Vietnam and India, said Helen Wong Pik-kuen, the HSBC’s chief… Source link

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Vietnam 

Ninh Thuận a boom town for quality shrimp fry production – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

NINH THUẬN  The south-central province of Ninh Thuận expects to produce 33-35 billion shrimp fry this year against 31 billion last year, the province’s Fisheries Seed Producers Association said. The fry, mostly of black-tiger shrimp and white-legged shrimp, are sold in the province and all over the country, according to Lê Văn Quê, its chairman. There are around 450 household-scale establishments and 1,200 farms in the province producing shrimp seeds, according to its Department of Agriculture and Rural Development. They also use advanced techniques to produce high-quality fry, according to…

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China 

Taiwan helps technology firms pivot production towards Southeast Asia as US tariffs hit mainland

Taiwan, home to many of the world’s leading electronics producers, is helping its manufacturers to expand beyond mainland China as increased US tariffs threaten the global technology supply chain.US President Donald Trump’s decision to increase tariffs on US$200 billion of mainland Chinese imports last week will have convinced any undecided Taiwanese companies of the need to shift some production away from the mainland, Kung Ming-hsin, Taiwanese minister-without-portfolio in charge of economic… Source link

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Home 

Escalating trade war a boon for Thailand industrial property as Chinese manufacturers shift production overseas

Thailand’s industrial property sector is profiting from the US-China trade war, as mainland Chinese manufacturers shift production to Southeast Asia in an attempt to avoid escalating tariffs.Chinese foreign direct investment (FDI) into the sector rose last year by 31.7 per cent to US$233 million, after declining by 15.7 per cent in 2016-17, according to Bank of Thailand data. In the same period, total FDI into Thailand skyrocketed by 130.5 per cent year on year, after rising by two-thirds in… Source link

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Vietnam 

The Coffee House to boost production by 10-15% this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A representative of The Coffee House talks about the company’s business at a press meeting in HCM City on Thursday. – VNS Photo HCM CITY — The Coffee House, a coffee shop chain and manufacturer, announced on Thursday in HCM City that it would target 20 tonnes of coffee exports this year and increase its total production yield by 10-15 per cent over the previous year. Nguyễn Hải Ninh, CEO of The Coffee House, also revealed that the company’s business plan would include doubling manufacturing output and boosting exports to the…

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Vietnam 

Buffett-owned Brooks Running moves China footwear production to Việt Nam in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Brooks Running will move its shoe production from China to Việt Nam this year. Photo Reuters OMAHA – The chief executive of Brooks Running, part of Warren Buffett’s Berkshire Hathaway Inc, said his company will shed much of its presence in China by moving running shoe production to Việt Nam, a result of the trade dispute between China and the US. Jim Weber, who has run Brooks since 2001, said in an interview that Brooks made the decision in January, when US President Donald Trump was threatening to boost tariffs on…

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Vietnam 

Việt Nam’s four month industrial production surges 9.2% – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A coal extraction site of Vinacomin’s Cọc Sáu Coal JSC, located in the northern province of Quảng Ninh.  The mining industry stayed flat compared to a year earlier, fueled by the 13 per cent growth in coal exploitation volume at 15.87 million tonnes. —Photo baoquangninh.com.vn HÀ NỘI — The nation’s industrial production index (IIP) saw a positive year-on-year increase of 9.2 per cent in the first four months of this year, according to the General Statistics Office (GSO). The figure was lower than the 10.7 per cent growth seen in the same period last year, but…

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Vietnam 

LG Electronics to move smartphone production to Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A customer looks at LG Electronics Inc.’s G8 ThinQ smartphone in Seoul. — Photo of LG Electronics HÀ NỘI — The Republic of Korea (RoK)’s LG Electronics plans to move its smartphone production to Việt Nam to cut losses its mobile devices business has suffered since the second quarter of 2017, Yonhap News Agency reported on Wednesday. The firm is scheduled to shut the Pyeongtaek plant in the south of Seoul and shift its production line to the northern port city of Hải Phòng. The company currently manufactures smartphones in…

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Home 

Hong Kong-listed Xinyang Maojian Group to switch to tea production, says shareholder on verge of taking control

The second-largest shareholder of Hong Kong-listed company Xinyang Maojian Group said on Wednesday it will shift its focus to tea farming and drinks from chemicals production.“The chemicals industry has been suffering a downturn and the market is very bad,” said Sha Tao, who is on the verge of boosting his stock to a controlling stake of 27.51 per cent. Last week, he reached an agreement to acquire 146 million shares held by Chan Yuen Tung, its founder and controlling shareholder. He will… Source link

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Vietnam 

Sacombank assists rice production, trading with loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

HCM CITY — As of the end of last year, outstanding loans in agricultural and rural areas around the country increased by 21.4 per cent from a year earlier, Nguyễn Quốc Hùng, director of the State Bank of Vietnam’s credit department, said. The Cửu Long (Mekong) Delta accounted for 17.2 per cent of this, he told a recent conference on “Promoting rice production and consumption in the Mekong Delta”. Outstanding loans to the rice industry alone went up by VNĐ29.8 trillion to VNĐ99 trillion (US$4.3 billion). By the end of January, it…

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