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
China 

China’s May rare earth export falls as supply tapers off amid a worsening trade war with the biggest buyer of the elements

China, the world’s largest refiner and supplier of rare earth, cut back on overseas shipments of the elements in the first five months of 2019, amid growing calls by nationalists to use the country’s stockpile as a tit-for-tat response in its trade war with the United States. Exports of rare earth elements fell 16 per cent in May from a month earlier to 3,640 tonnes, according to the General Administration of Customs data. Overseas shipments for the first five months of 2019 fell 7.2 per cent… Source link

Read More
Home 

China’s antitrust regulator fines Ford’s Changan venture US$23.6 million for price violations amid worsening trade tensions with US

China’s antitrust regulator slapped a US$23.6 million fine on Ford Motor Company’s Chinese venture for restricting sales prices in its hometown, taking the second such action against US carmakers in three years as trade tensions deteriorated between the world’s two largest economies.Changan Ford Automobile, the 50:50 venture between Michigan-based Ford and Chongqing Changan Automobile, must pay a penalty of 162.8 million yuan (US$23.6 million) – equivalent to 4 per cent of the venture’s annual… Source link

Read More
Property 

Worsening US-China trade war hits Hong Kong’s office rental market as companies put expansion plans on hold

The worsening US-China trade war, which continues to depress stock markets and the economy, is affecting Hong Kong’s office leasing market, as a growing number of companies are holding back their expansion or relocation plans, say market observers.Hedge funds, asset management companies and foreign trading firms are taking a wait-and-see approach.Hong Kong’s benchmark Hang Seng Index lost 9.42 per cent of its value last month after the US escalated the trade war by announcing an increase in… Source link

Read More
Home 

Hong Kong’s home sales flop for a second consecutive weekend as worsening US-China relations give buyers more cause for pause

Hong Kong’s home sales flopped for the second consecutive weekend, as an unexpected deterioration in US-China relations gave investors reason to postpone making long-term financial commitments.Two flats were sold out of 104 units on offer in three districts across the city, marking the worst sales weekend for developers since the city emerged from its five-month price correction in January.Wang On Properties managed to sell two of the 86 flats at its Maya by Nouvelle project in Yau Tong as of 5… Source link

Read More
Home 

How China’s worsening economic woes are shattering the dreams of its top graduate students

Tan Shiyang, a Beihang University biological science and medical engineering graduate student, should be one of the last people to have to worry about finding a decent job in China. Biotech scientists with his skills are always in short supply and his Beijing-based school is regarded as one of the best, with a reputation as China’s answer to the Massachusetts Institute of Technology. And so, when Tan received multiple job offers soon after meeting representatives from various companies at an autumn on-campus recruitment fair at Beihang, things seemed to be…

Read More
Investment 

Sportswear giant Li Ning cautious over outlook amid worsening US-China trade war

Chinese sportswear giant Li Ning is “cautious” about the nation’s business environment even though it may not be directly affected by the escalating trade war, the founder said after the company posted a 42 per cent jump in first-half profit, bolstered by stronger apparel sales and e-commerce business. “Our market is primarily domestic, and there’s a rigid demand for sportswear,” Li, the Olympic gold medal gymnast after whom the company is named, said on Monday. “But China can’t do business with its doors closed, and its economy is linked to…

Read More