Property 

Hong Kong’s local malls seen as a solid investment bet thanks to solid yields, reliance on domestic spending

Hong Kong’s neighbourhood shopping centres have come into focus recently for their solid rental yields and reliance on local consumers, in contrast to glitzier malls that cater to the more fickle tourist spending.Property broker JLL estimated that market yields for neighbourhood malls ranged between 3 and 4.5 per cent, well above the city’s high street shops at 2.5 per cent and grade A offices at 2.7 per cent.“Neighbourhood malls in Hong Kong are an attractive retail asset worth considering for… Source link

Read More
Home 

Hotels brace for pain of worsening US-China trade war pain as consumers likely to cut non-essential spending

Hotel occupancy rates and ­revenues in Asia-Pacific fell in the first quarter as the worsening ­US-China trade war dented consumer confidence, according to a report by property agency Colliers International.Revenue per available room, a key measure of hotel performance, dropped 7.2 per cent year on year in the first three months while overall occupancy rates ­decreased to 67.4 per cent, the report found.“It is evident that the recent ­escalation in the trade dispute and the political impasse… Source link

Read More
Home 

China unveils 5G and NEV spending action plan to boost consumption to cushion US trade war impact

China has released a two-year action plan to promote the purchase of consumer goods from new energy vehicles to 5G handsets in the latest move to offset the escalating trade war with the United States that continues to hit the world’s second largest economy.In a joint circular published on Thursday, the National Development and Reform Commission (NDRC), the Ministry of Commerce and the environment protection ministry vowed to promote the upgrading and recycling of cars, home appliances,… Source link

Read More
China 

China’s consumer spending surges over extended Labour Day holiday

Beijing’s decision to extend this year’s Labour Day holiday from 24 hours to 96 achieved the desired effect of increasing consumer spending, according to official figures.Between Wednesday and Saturday, revenue from tourism rose 16.1 per cent year on year to 117.7 billion yuan (US$17.5 billion), while the number of “tourists” rose 13.7 per cent to 195 million, the Ministry of Culture and Tourism said on its website.Also, cinema box office revenue over the period soared to more than 1.5 billion… Source link

Read More
Home 

ZTE expects US$178 million first-half profit as it boosts R&D spending for 5G development

ZTE Corp, China’s second largest telecommunications equipment manufacturer, is predicting a turnaround in its business this year, with a projected net profit of between 1.2 billion yuan (US$178 million) and 1.8 billion yuan in the first half, compared to the 7.8 billion yuan loss during the same six-month period in 2018, as business continues to improve after a near-death experience last year.Net profit was 863 million yuan for the three-month period ending March compared with a 5.4 billion… Source link

Read More
China 

China consumer spending ‘not fully recovered’ from US-China trade war despite improving sentiment

Chinese consumer spending “stabilised but has not fully recovered” in the first quarter of the year even though overall economic growth was stronger than expected due to Beijing’s stimulus measures, according to a China investment strategist and former US diplomat.The nominal growth rate of household consumption actually slowed further to 7.3 per cent, down from 8.0 per cent in the fourth quarter and 7.6 per cent in the first quarter a year ago.But gross domestic product, fixed asset investment… Source link

Read More
Home 

Chinese banks boost fintech spending and launch services to counter competition from internet giants

Chinese commercial banks are boosting their fintech investments and capability to counter competition from internet giants as they chip away at their businesses.Some banks, although late to the party, are wholeheartedly embracing the fintech revolution which has transformed customers’ financial consumption behaviour.Last year China Construction Bank (CCB) set up its own wholly-owned fintech unit, joining Ping An Bank, China Merchants Bank, China Everbright Bank, Industrial Bank, and China… Source link

Read More
Home 

Chinese consumers – accounting for 33 per cent of all luxury goods spending globally last year – to tighten purse strings in 2019

Spending on luxury goods in mainland China is expected to increase by 10 per cent in 2019, slowing from the 20 per cent recorded in the previous two years, according to a report on the country’s market for such items by global consultancy Bain & Company.A slowing economy has affected people’s incomes and personal wealth, which will deter China’s affluent classes from buying luxury items, said Bruno Lannes, a partner at Bain.“We need to realise that China’s economy is slowing down,” he said. “In… Source link

Read More
Singapore 

Singapore Instagram queen Jamie Chua is done with just spending, Singapore, Women News

Jamie Chua’s walk-in wardrobe is a sight to behold. The Singaporean socialite owns one of the world’s largest collections of Hermès handbags. Some 200 of them, including the French label’s iconic Birkin and Kelly styles in various colours and sizes, take pride of place – kept in full-length glass cabinets at the front of the 700 sq ft, fingerprint-protected wardrobe. “I tend to pick classic colours over seasonal or limited-edition colours. Reds, pinks and yellows are very much sought after because even though they may not be your usual neutral…

Read More
Home 

PetroChina parent to quintuple exploration spending to help realise Xi’s national energy security goal

China National Petroleum Corp., the nation’s largest oil and gas producer, will quintuple its resource exploration budget to 5 billion yuan this year, to help slow the nation’s growing dependence on foreign oil and gas, according to chairman Wang Yilin.The energy titan will also lift its broader budget for discovering new resources and ascertaining their economically extractable volumes by 25 per cent from last year without giving the spending level, said the parent of listed PetroChina in an… Source link

Read More