 EconomyLoop where regional business news becomes global to everyone  | ||
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| Foxconn approved for IPO CHINA has approved the Shanghai listing of an Internet and industrial-focused subsidiary of Taiwan’s Foxconn, the world’s largest contract electronics manufacturer. China Securities Regulatory Commission... read more
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| Reform to share listing to invigorate capital market China’s securities regulator is set to reform stock exchange listing to invigorate the country’s capital market and foster the new economy.... read more
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| China’s exports surge at fastest pace in 3 years in February ... read more
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| AWE-inspiring robots steal limelight ... read more
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| Shanghai GDP expands 6.9% in 2017 SHANGHAI’S economy grew 6.9 percent in 2017, the municipal statistics bureau said yesterday. It kept pace with China’s gross domestic product growth and was slightly higher than the 6.8-percent increase... read more
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| China Resources Beer eyes Heineken China deal China Resources Beer (Holdings) Co Ltd is in talks to acquire Heineken NV’s China business in a deal that could be worth over US$1 billion, as the country’s largest brewer seeks new growth from premium... read more
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| Women becoming more visible at helm of A-share firms Women are having more say in China’s business world as females at helm of A-share listed firms have become more visible.... read more
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| Chinese retailers push promotions on Women’s Day Chinese retailers were cashing in on International Women’s Day, offering discounts on sportswear, cosmetics and health care to get women to spend more, dubbing the day “Queens’ Day” and “Goddesses’ Da... read more
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| IMF head says nobody wins a trade war The head of the International Monetary Fund warned yesterday that a trade war US President Donald Trump apparently intends to provoke with tariffs on steel and aluminium would snuff out global growth.... read more
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| Midea goes big on AI Electronics giant Midea Group aims to develop artificial intelligence and industrial Internet with Kuka robots and intelligent devices, the Shenzhen-listed firm said yesterday in Shanghai.... read more
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| Battery JV created German auto-parts supplier Continental and Chinese battery manufacturer Sichuan Chengfei Integration Technology Co agreed in Shanghai yesterday to form a joint venture to develop and produce battery s... read more
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| Supervision over insurers to tighten China’s insurance watchdog will enhance its supervision of the equity structure of insurers by tightening criteria on market entry for investors as well as monitoring shareholders’ behavior and scrutinizing... read more
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| Shanghai sees merchandise sales to rise 8% SHANGHAI’S merchandise sales are set to grow 8 percent this year, with retail sales to rise 8 percent and e-commerce to jump 20 percent, the Shanghai Commission of Commerce said yesterday. The city set... read more
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| China leads in protest over Trump tariffs China led a group of 18 World Trade Organization members yesterday that urged US President Donald Trump to scrap his planned tariffs on steel and aluminium.... read more
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| Lego’s 2017 sales fall for 1st time since 2004 ... read more
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| ICBC lists 2 bonds on Nasdaq Dubai THE Industrial and Commercial Bank of China became the biggest bond issuer on Nasdaq Dubai after listing two new bonds yesterday, Dubai International Financial Center said. The two fixed income securities,... read more
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| B&R bonds issued to finance initiative Companies now have a new channel to finance their Belt and Road projects as China has introduced Belt and Road bonds to fund the massive initiative.... read more
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| Shares rise on NDRC’s remarks SHANGHAI stocks closed up yesterday as investors believe China’s GDP growth target will be met, and the country will continue to lure foreign investment. The Shanghai Composite Index rose 1 percent to... read more
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| China seen to power growth in oil demand The chief of the International Energy Agency said on Monday that China will continue to be a main driving force for the growth of global oil demand. Fatih Birol, executive director of IEA, said in a... read more
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| WeChat passes 1b accounts mark China’s ubiquitous WeChat social media platform has crossed the 1 billion accounts mark as its messaging, game and shopping services attract more and more users. The symbolic threshold was announced... read more
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| Dutch company’s ambitions for high hopes with flying car ... read more
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| Factory goods orders see biggest fall in 6 months New orders for US-made goods recorded their biggest decline in six months in January and business spending on equipment appeared to be slowing after strong growth in 2017. Factory goods orders dropped... read more
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| Kobe Steel CEO to quit over data fraud scandal Kobe Steel said yesterday its CEO will step down to take responsibility for a widespread data fraud scandal, although doubts remain over a corporate culture mired in malfeasance and the possibility of... read more
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| Private sector plays vital role in economy CHINA’S private sector has made a key contribution to economic growth, the head of the country’s industry and commerce federation said yesterday. The sector now contributes to over 60 percent of China’s... read more
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| City’s telecom firms will reduce charges SHANGHAI telecom firms announced plans yesterday to upgrade packages to cut roaming data traffic charges and to drop rates for data consumption and broadband services to boost digital economy development. The... read more
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| Surge in mobile payments Chinese banks saw a surge in mobile payments last year, official data showed yesterday.... read more
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| Time to use cellular services APPLE Watch users in the Chinese mainland will be able to enjoy cellular services from today, according to a China Unicom source. Apple and its partner China Unicom will debut the new eSIM service tomorrow,... read more
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| Recovery in housing stirs hopes HOME buyers and real estate developers’ hopes were raised last week following a recovery in the market after the Spring Festival holiday. The area of new homes sold, excluding government-subsidized affordable... read more
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| China wants tech firms to float at home CHINA aims to get its home-grown, overseas-listed companies to float on the domestic exchanges through the depositary receipts route, people with knowledge of the matter said, in a plan that would pit... read more
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| Caixin service PMI eases but still ends up positive China’s services activity eased in February amid cooling demand but an index measuring the activity level still ended in positive territory, according to a private report yesterday.... read more
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| Venture to build hydrogen stations ... read more
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| Shanghai issues first road testing licenses to smart car makers ... read more
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| Over 4,000 firms attend trade fair THE 28th East China Fair, the largest regional trade fair in China, opened in Shanghai yesterday. Nearly 4,000 Chinese companies and more than 460 overseas businesses are taking part in the four-day... read more
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| Shares end higher on Caixin PMI CHINESE stocks rebounded from earlier losses as consumer and banking firms rose, after a private survey showed the country’s factory growth rose to the highest level in six months in February. The benchmark... read more
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| New home buying sentiment hits a low NEW home buying sentiment dipped to its lowest level in Shanghai in six years as the weeklong Spring Festival holiday kept most buyers sitting on the sidelines. The area of new residential properties... read more
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| Qing Dynasty bowl set for record price ... read more
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| Chinese executives upbeat on growth More executives of Chinese firms believe global economic growth will improve in 2018, according to a report released by PwC yesterday.... read more
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| Overseas tourists favor mobile payment Chinese tourists are using mobile payment overseas far more frequently than foreign counterparts, according to a survey, which added that more than 90 percent of Chinese tourists would use mobile payment... read more
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| Caixin PMI moves up in February CHINA’S manufacturing sector rose modestly in February to a nine-month high, bolstered by firmer client demand and increasing prices, according to a private survey released by Caixin yesterday. The Caixin... read more
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| Used phone market booms but far from green THANKS to a fast-growing secondhand market, smartphones are increasingly being re-used but large-scale handset recycling is not happening as the industry struggles to go green. Thrown in the thrash or... read more
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| HK property transaction up 171% REAL estate investment in Asia Pacific rose 16 percent to a record US$52 billion in the last quarter of 2017, with China’s Hong Kong, Australia and Japan remaining favorite markets among investors, according... read more
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| HK$50b budgeted for long-term tech push Hong Kong rolled out tax cuts, relief measures and capital spending in an expansionary budget yesterday, after the city racked up a hefty budget surplus, targeting investments in high-technology industries... read more
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| Rebound in China sales for L’Oreal Beauty and cosmetics giant L’Oreal said its China sales rebounded from mild growth in previous years, registering double-digit growth in 2017 thanks to strong momentum in its luxury beauty brands.... read more
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| Chinese oil executives stay upbeat MORE than two thirds of Chinese oil and gas executives expect profit growth in the industry this year, bolstered by efficient cost management although crude prices remain low, according to DNV GL, a Norway-based... read more
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| Investment in fintech hits record Global investment in financial technology ventures reached another all-time high in 2017, buoyed by a surge in funding for startups in the United States, United Kingdom and India, according to a report... read more
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| Securitization deals ‘rise in Q4 of 2017’ Moody’s Investors Service said yesterday that the issuance of Chinese securitization transactions for all asset classes rose in the 4th quarter of 2017 from a year ago, both in terms of number of deals... read more
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| Lunar New Year leads to manufacturing slowdown China’s manufacturing activity retreated in February with the biggest monthly fall since May 2012, the National Bureau of Statistics said on Wednesday. The official manufacturing Purchasing Managers’... read more
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| Now, live calligraphy by robot ... read more
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| Best of businesswomen Sun Yafang, chairwoman of tech giant Huawei, topped Forbes China’s list of 100 outstanding businesswomen whose firms have created a total market capitalization of more than 7 trillion yuan (US$1.1 tri... read more
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| Chinese top list of billionaires with total net worth US$2.5t THE number of Chinese billionaires pulling away from the United States is growing every year with as many as 819 billionaires from China, compared with 571 from the US, the Hurun Rich List showed yesterday. A... read more
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