新闻

April 21, 2019

African swine fever has now spread to all parts of China, posing threat to pork industry

African swine fever, which is deadly to pigs but not harmful to humans, has now spread to all Chinese mainland provinces since the first case was confirmed in August, posing a serious threat to the hog industry and raising concerns about consumer inflation.The Ministry of Agriculture and Rural Affairs on Sunday said 146 pigs had died from the highly contagious virus at six farms on the southernmost province of Hainan. The first confirmed cases on the tropical island were reported on Friday,…
April 21, 2019

China’s pork industry under threat as African swine fever spreads to all provinces

African swine fever, which is deadly to pigs but not harmful to humans, has now spread to all Chinese mainland provinces since the first case was confirmed in August, posing a serious threat to the hog industry and raising concerns about consumer inflation.The Ministry of Agriculture and Rural Affairs on Sunday said 146 pigs had died from the highly contagious virus at six farms on the southernmost province of Hainan. The first confirmed cases on the tropical island were reported on Friday,…
April 21, 2019

Hohhot property deals: Chinese city offers graduates 50 per cent off new homes

A city in north China is offering half-price homes or two years’ free accommodation to recent graduates in a bid to attract fresh talent and breathe new life into its economy.According to a document published on Thursday by the municipal government, authorities in Hohhot, capital of the Inner Mongolia autonomous region, are planning to build a range of new flats especially for those who have graduated within the past three years.Each property will measure about 100 square metres (1,100 square…
April 21, 2019

Chinese city Hohhot offers graduates 50 per cent off new homes to attract new talent

A city in north China is offering half-price homes or two years’ free accommodation to recent graduates in a bid to attract fresh talent and breathe new life into its economy.According to a document published on Thursday by the municipal government, authorities in Hohhot, capital of the Inner Mongolia autonomous region, are planning to build a range of new flats especially for those who have graduated within the past three years.Each property will measure about 100 square metres (1,100 square…
April 21, 2019

China’s private firms in traditional low-tech sectors struggling without government support

Among China’s millions of private businesses, Terry Wu says his is one of a minority of non-state firms that have benefited from government incentives to support the private sector, which Beijing is counting on as an important lifeline to buffer the nation’s overall economic slowdown.Wu’s company, a manufacturer of smart devices and components including camera modules for smartphones, has enjoyed five years of free factory rental and easy access to bank loans as part of a sweeping policy…
April 21, 2019

Trump and his economic aides are wrong with their ‘managed trade’ because forced diversion of commerce is neither free nor fair

It has been said that fools rush in where angels fear to tread. When it comes to trade, there are few bigger fools than US President Donald Trump and his economic aides.While they push for free and fair global commerce, they seem to think that they can manage trade to suit themselves.Managed trade is neither free nor fair, because it causes commerce to be diverted from the channels into which it naturally wants to flow. The world is about to learn this lesson with a US-China trade deal…
April 20, 2019

China to collect applications for scrap metal import licences from next month, trade group says

Chinese authorities will start accepting applications for licences to import unspecified quantities of soon to be restricted types of scrap metal from late May, the recycling branch of the China Non-ferrous Metals Industry Association said.The world’s top metals consumer has been clamping down on scrap imports as part of a campaign against foreign solid waste, leaving overseas scrap exporters scrambling to find other markets.Imports of low-grade copper scrap such as coiled cable and waste…
April 20, 2019

What kind of stimulus do China’s half-idle car assemblies need to restart stalled sales in the world’s largest vehicle market?

Word got around last week – while the Auto Shanghai 2019 trade show was in full swing – that China’s economic planning agency was mulling an easier process for drivers to obtain licences in the world’s largest vehicle market.The speculation sent the share prices of carmakers soaring, on hopes that the liberalised procedure would spur drivers to become owners, help clear out showrooms and stem nine consecutive months of declining sales. At least three automotive stocks jumped by their 10 per…
April 19, 2019

Congestion or consumption? Beijing ponders trade-off on car purchase incentives to boost Chinese economy

A debate over whether the Chinese government should extend financial incentives for car purchases to increase consumption and economic growth is heating up.It started as sales in the world’s largest automobile market fell for the tenth month in a row in March. This created problems for domestic and foreign carmakers and hindered Beijing’s efforts to create a “powerful home market” that would offset the impact of China’s trade war with the US and slowing demand for Chinese exports.As China’s…
April 19, 2019

China ponders trade-off with congestion and pollution on car purchase incentives to boost economy

A debate over whether the Chinese government should extend financial incentives for car purchases to increase consumption and economic growth is heating up.It started as sales in the world’s largest car market fell for the tenth month in a row in March. This created problems for domestic and foreign carmakers and hindered Beijing’s efforts to create a “powerful home market” that would offset the impact of China’s trade war with the US and slowing demand for Chinese exports.As China’s factories…
April 19, 2019

China’s economic growth unable to boost employment as job market drops to six-year low, says think tank

Despite better-than-expected economic growth in the first quarter, China’s job market performed at its worst level in six years at the start of 2019, according to an industry report published on Friday.The number of jobs seekers normally rises during January to March when many workers look to change jobs and college graduates start looking for career opportunities after their graduation.However, in the first quarter, the number of potential applicants rose to the highest level since 2011 while…
April 19, 2019

China leaders vow to reform, not to stimulate, economy as trade deal with US nears

China’s senior communist leaders have congratulated themselves on saving the country’s economy from a hard landing during a trade war with the United States and have decided to focus on “structural reforms”, instead of stimulus, to move the economy forward.The Politburo, the 25-member ruling body of the country headed by President Xi Jinping, reviewed China’s growth in the first quarter on Friday and concluded that market confidence has returned and economic performance was “better than…
April 19, 2019

China leaders vow to reform, not to stimulate, economy as trade deal with US nearsChina leaders vow to reform, not stimulate, economy as trade deal nears

China’s senior communist leaders have congratulated themselves on saving the country’s economy from a hard landing during a trade war with the United States and have decided to focus on “structural reforms”, instead of stimulus, to move the economy forward.The Politburo, the 25-member ruling body of the country headed by President Xi Jinping, reviewed China’s growth in the first quarter on Friday and concluded that market confidence has returned and economic performance was “better than…
April 19, 2019

China’s exporters fear heyday is over amid sour mood at Canton Fair as US-China trade war lingers

The optimism expressed by officials from China and the United States suggesting the trade war is almost over has not trickled down to small exporters exhibiting their products at China’s largest export fair, who fear that, with or without a deal, the heyday for Chinese exports is over.Exporters at the Canton Fair in Guangzhou, the country’s biggest export exhibition held every spring and autumn, remain cautious over the outlook for US-China trade relations and the prospects for selling products…
April 19, 2019

Gree Electric and China’s home appliance queen Dong Mingzhu seeking to lead way on SOE reform

Appliance queen Dong Mingzhu may soon become the standard bearer for China’s effort to its reform state-owned businesses.Outspoken chairwoman Dong is widely known to the Chinese public because she appears in many of the adverts for Gree Electric, the listed, state-owned company that is the world’s largest manufacturer of residential air conditioners.Dong is now at the forefront of a highly anticipated deal that will shift the ownership, and the actual control of the company, that she had helped…
April 19, 2019

China ‘regrets’ WTO ruling after losing grain import quota case brought by US

China has promised to manage grain import tariff quotas within World Trade Organisation rules after losing an agriculture trade dispute case with the United States.A World Trade Organisation (WTO) panel decided that China’s system of tariff rate quota system for rice, wheat and corn violated international trading rules. China’s Ministry of Commerce said that it “regrets” the ruling and that it would “seriously study” the decision.The Commerce Ministry’s response is “a statement of acceptance”…
April 19, 2019

Why is global investors’ fossil fuel divestment not having the desired effect on China’s carbon emissions?

Western institutional investors who have joined the coal divestment movement are finding it difficult to pressure Chinese companies to reduce their carbon footprint despite Beijing’s commitment to the Paris Agreement.Analysts say there are two main reasons for this: China is yet to implement plans to cap carbon emissions and, more importantly, Chinese miners and power producers do not rely on foreign funding.The Paris accord sets out a global action plan to reduce greenhouse emissions and put…
April 19, 2019

Singapore’s sovereign wealth fund GIC and Chinese mall operator Grandjoy to kick off China’s first listed real estate trust

Singaporean sovereign wealth fund GIC and its long-term Chinese ally, the mall operator Grandjoy Holdings Group, have been selected for a pilot programme that will allow individual Chinese investors to buy shares in rent-yielding properties for the first time.Grandjoy, the property arm of state-owned conglomerate Cofco, was picked by the securities regulator as one of several firms to try China’s first publicly listed real estate investment trust (Reit), its chief financial officer, Xu Hanping,…
April 18, 2019

Taiwan presidential run by Terry Gou creates ‘uncertain’ future for Foxconn, analysts say

Foxconn chairman Terry Gou’s decision to make a run for Taiwan’s presidency creates “uncertainty” for the world’s largest iPhone assembler, and could threaten Apple’s long term relationship with the company, analysts said.The 68-year-old Gou, Taiwan’s richest man with a net worth of US$7.6 billion, said on Wednesday that he would take part in the opposition Kuomintang’s (KMT) primaries for the 2020 race to challenge current president Tsai Ing-wen.In a statement, Foxconn said that Gou wished to …
April 18, 2019

China expected to resume role as driver for global economy, BlackRock says

China’s economy, a drag on global growth last year because of a domestic slowdown, is expected to grow more quickly in the second quarter to become the key economic driver for the world, research by BlackRock shows.More expansive fiscal and monetary policies by Beijing have started to show results that may help to reverse a slowdown that has hit Europe and emerging markets particularly hard, researchers at BlackRock Investment Institute, the research unit for BlackRock Inc, said in Thursday’s…