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China’s small business lending push could equal US$418 billion in new loans, S&P Global says

Beijing’s efforts to boost the availability of capital to the country’s smallest businesses could generate as much as 2.8 trillion yuan (US$418 billion) in new loans if the nation’s banks meet the government’s target to increase business lending this year, according to S&P Global.In March, Chinese Premier Li Keqiang called for the country’s biggest state-owned commercial banks to increase their loans to micro and small enterprises (MSE) by more than 30 per cent this year as China’s economic… Source link

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China 

US may back down on trade talks push for China to axe subsidies

US negotiators have become resigned to securing less than they would like on the issue of China’s industrial subsidies, after strong resistance from Beijing, marking a retreat on a core objective for the trade talks, according to two sources briefed on the discussions.The sources said the US negotiating team had tempered demands that China curb industrial subsidies as a condition for a deal to end the trade war which, after nine months, has cost billions of dollars, roiled financial markets and… Source link

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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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China 

United States sets sights on China in new electric vehicle push

US government officials plan to meet carmakers and lithium miners in Washington next month as part of an effort to launch a national electric vehicle supply chain strategy, according to sources familiar with the matter.While Volkswagen AG, Tesla and other electric-focused carmakers and battery manufacturers are expanding in the United States and investing billions in the new technology, they are reliant on mineral imports without a major push to develop more domestic mines and processing… Source link

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Vietnam 

Exports help push up trade surplus in first quarter – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Improved exports in March helped Việt Nam gain a trade surplus of US$536 million in the first quarter after running deficits in the first two months, the latest update from the General Statistics Office (GSO) revealed. Statistics showed that exports reached $22.4 billion in March, representing a rise of 61.1 per cent over the previous month. This helped Việt Nam return to a trade surplus after running a deficit of $800 million in January and $84 million in February. Still,…

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China to push 5G commercialisation even as Huawei faces US-led resistance in West

China plans to accelerate commercialisation of 5G as development of the advanced wireless technology enters a “final sprint” phase, with winners poised to achieve accelerated economic development, according to a senior Chinese government official.Wang Xinzhe, chief economist at China’s Ministry of Industry and Information Technology (MIIT), said the agency has set a number of priorities to speed up the commercialisation of 5G as the next generation wireless technology enters what he called the … Source link

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Ecommerce 

Alibaba extends New Retail push with US$693 million investment in STO Express

Alibaba Group Holding’s latest investment in Chinese courier company STO Express comes as China’s largest e-commerce company looks to bolster its New Retail strategy of integrating online and offline shopping.The 4.66 billion yuan (US$693 million) investment in Shanghai-headquartered STO Express is Alibaba’s fourth investment in an express courier company. Before STO Express, Alibaba had taken minority stakes in Chinese courier firms YTO Express, ZTO Express and Best Inc.New York-listed Alibaba… Source link

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Hong Kong’s green bond market to pick up steam on back of government’s proposed HK$100 billion push

Green bonds and loans by local issuers in Hong Kong jumped nearly fivefold last year to US$2.3 billion, with volumes expected to rise further after the government rolls out an issuance programme, according to Climate Bonds Initiative.A total of US$11 billion in green debt was issued in the city, showed a report published on Monday by the promoter of bonds and loans that finances projects with environmental benefits.The Hong Kong government a year ago announced a green bond issuance programme of… Source link

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China 

China’s Greater Bay Area push could worsen Guangdong inequality and usher in new ageing crisis

After a bumper year of sales in 2018, young entrepreneur Daniel Zeng wanted to give something back to his hometown of Yingde, a backwater city in the north of China’s Guangdong province.Eager to help students from lower income and rural families improve their education, the founder of a Shenzhen-based tech start-up that sells online learning programmes offered his products to Yingde primary schools at 30,000 yuan (US$4,460) a set, a fraction of the 500,000 yuan (US$74,000) it would cost in… Source link

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Huawei to push AI, Schubert in upcoming Mobile World Congress publicity amid US indictments

In 1822, German composer Franz Schubert began his symphony No 8, but never completed it. Fast forward to 2019 and Huawei Technologies, the Chinese smartphone maker mired in a high-profile legal battle with the US government, says it has finished the Unfinished Symphony with the help of artificial intelligence. The company said it will release a complete version of the 200-year-old masterpiece at the upcoming Mobile World Congress (MWC) in Barcelona. “Using the power of AI and the help of award-winning composers, Huawei taught its smartphone to finish it,” the…

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