Hong Kong protests fail to slow city’s role as foreign investment gateway to China, government data shows

Hong Kong’s role as the primary gateway for long-term international investors to transfer money into China has remained largely intact despite the city being hit by increasingly violent anti-government protests, according to data released by the Chinese government.According to the figures from China’s Ministry of Commerce, Hong Kong remained the dominant source of foreign direct investment entering China in June, July and August when the city grabbed global headlines for the protests triggered… Source link

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London Stock Exchange rejection ‘shows Hong Kong can’t make it alone’

The London Stock Exchange Group’s preference for Shanghai over Hong Kong as a Chinese market partner shows that the southern city cannot break away from the mainland and develop on its own, according to a Communist Party mouthpiece.In a commentary published late on Saturday, People’s Daily said that getting access to future opportunities in China depended on how well the city consistently aligned with the country’s interests.The comments came after the London bourse operator rejected Hong Kong… Source link

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Global 

Amazon sellers feeling the heat of US-China trade war contrary to Donald Trump’s claims, survey shows

American third-party vendors who sell on Amazon, the world’s largest e-commerce platform by revenue, singled out tariffs imposed by the United States on Chinese goods as the main reason their costs are increasing, slashing their margins and forcing them to push up prices on consumers, a new survey revealed.Some 72 per cent of Amazon sellers have seen their cost per unit increase by some 17 per cent since the beginning of the trade war last year, according to a survey of Amazon vendors conducted… Source link

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China 

China’s service sector activity rose to three-month high in August, Caixin PMI survey shows

Activity in China’s services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year, a private survey showed on Wednesday.Stronger job creation by services firms will be welcome news for Beijing, which is struggling to reverse a prolonged slump in the manufacturing sector which has dragged economic growth to near 30-year lows.The Caixin/Markit services purchasing managers’ index (PMI) picked up to 52.1 last month… Source link

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China 

China’s online army shows foreign brands who’s in charge

As geopolitical storm clouds gather, China’s most powerful weapon may not be tariffs or riot police, but ordinary consumers at their keyboards.Beijing is increasingly finding itself under siege as US President Donald Trump’s trade war squeezes the world’s second-largest economy and protests in Hong Kong call into question China’s hold over the territory.But as it has in the past, China is finding support from an increasingly nationalistic online community, who use the pitfalls of multinational… Source link

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Singapore 

Government survey shows families in Singapore are spending more on travel, Singapore, Lifestyle News

SINGAPORE – Families are spending more on travel compared to five years ago, according to a recent survey by the Department of Statistics. Conducted every five years, the latest Household Expenditure Survey is based on data collected in 2017 and 2018 for Singaporean and permanent resident households. Average monthly expenditure on overseas travel increased from $260 to $340 since the previous survey conducted between 2012 and 2013. One reason is that air travel has become more affordable as budget and full-service carriers compete for the pie, says Ms Alicia Seah,…

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China 

China’s household debt has grown so much that trade war stimulus is largely ineffective, study shows

China’s household debt has risen to a such a high level that government stimulus designed to boost consumer spending would likely be ineffective, an international research group said.The country’s household debt-to-income ratio rose to 92 per cent at the end of last year, a sharp increase from only 30 per cent in 2008, the Washington-based Institute of International Finance (IIF) wrote in a research note.The ratio is higher than the 86 per cent in Germany and close to the levels of 97 per cent… Source link

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Ousting of HSBC CEO John Flint shows ‘increased ruthlessness’ of bank’s board, S&P says

The abrupt departure of HSBC chief executive John Flint shows the “increased ruthlessness” of HSBC’s directors and their unwillingness to tolerate middling performance by the bank, S&P Global Ratings said on Tuesday.On Monday, HSBC said that Flint, a career HSBC executive, had stepped down by mutual agreement with the company’s directors after 18 months in the top job and the board of directors believed a change was needed to navigate “an increasingly complex and challenging global environment”… Source link

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Trade between US and China tumbles in first half of year, data shows, a victim of tariffs

The total value of bilateral trade between the United States and China dropped by nearly 14 per cent in the first half of the year versus the same period in 2018, data from the US Commerce Department showed on Friday.The change is a clear effect of the trade war between the world’s two largest economies, analysts say.In the first six months of the year, adding exports and imports as a measure of total trade between the US and China, the total amount of goods exchanged was US$271 billion versus… Source…

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China 

China’s manufacturing outlook still weak but showing ‘signs of recovery’, Caixin survey shows

China’s manufacturing sector continued to contract in July, although at a slower pace than in previous months due to “signs of recovery”, a private survey released on Thursday showed.The Caixin/Markit manufacturing purchasing managers’ Index (PMI), a gauge of sentiment among the country’s factory operators which tends to include smaller private sector firms, improved from 49.4 in June to 49.9 in July.It follows Wednesday’s release of the official purchasing managers’ index which also rose… Source link

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