china

China to work with Asia to secure world trade, ex-PBOC head says

(Sept 22): China will work with other Asian countries to safeguard international trade rules, as well as the monetary and financial order, according to its former central bank Governor Zhou Xiaochuan.

The country is determined to uphold multilateralism, and is accelerating the pace of its opening-up to integrate more completely into the global economy, Zhou said Saturday at the Singapore Summit conference. It will also continue to build the Belt and Road Initiative with Asian counterparts.

Asia's beaches go quiet as Chinese tourists stay home

(Sept 6): From quiet beaches in Bali to empty rooms in Hanoi’s hotels, pangs from China’s economic malaise and weakening yuan are being felt across Southeast Asia’s vacation belt.

A boom in Chinese outbound travel in recent years that stoked tourism across Southeast Asia is now in reverse gear. The abrupt decline of Chinese travelers is becoming a painful lesson for nations such as Thailand and Indonesia that had become overly dependent on Asia’s top economy.

StarHub inks agreement with Chinese internet providers to enhances data connectivity, business opportunities

SINGAPORE (Aug 26): StarHub has inked a memorandum of understanding with three internet service providers in China to enhance data connectivity and explore business opportunities between Singapore and Chongqing.

The agreement will see the Singapore telco work with China Mobile, China Unicorn and China Telecom to strengthen digital connectivity between Singapore and Chongqing and foster Singapore-China trade.

Twitter, Facebook accuse China of using fake accounts to undermine Hong Kong protests

SAN FRANCISCO (Aug 20): Twitter and Facebook said on Monday they had dismantled a state-backed information operation originating in mainland China that sought to undermine protests in Hong Kong.

Can Japfa overcome near-term cyclical pressures to see turnaround?

SINGAPORE (Aug 8): Lower average selling prices and higher costs drove earnings for agri-food company Japfa down to US$5 million ($6.8 million) for the 2Q19 ended June, a steep 83% drop from a year ago.

Segmentally, one of the key contributors of Japfa’s weak performance was Japfa Cornfeed Tbk (JPFA), which saw earnings decline 23% y-o-y to US$18.6 million. This was on the back of higher corn prices, which pressured margins, and softer broiler prices, which led to EBIT declining 27.2% y-o-y to US$65.2 million.

Impact of calling China a currency manipulator

SINGAPORE (Aug 12): The surprise announcement by the US Treasury labelling China a “currency manipulator” raises a lot of questions. The answers to two of them in particular shed light on how trade tensions are likely to play out between the two largest economies in the world.

Is the label justified? 

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China's changing trade and market opportunities

(Aug 5): China’s economic growth slowed to 6.2% in the second quarter, making it the weakest pace in 27 years. The weakness has been exacerbated by trade and tariff wars, but it also reflects a long-term underlying economic slowdown. Inevitably, growth will slow further as economic development continues, so the challenge is to constantly examine the drivers and quality of growth. 

China’s changing trade and market opportunities

(Aug 5): China’s economic growth slowed to 6.2% in the second quarter, making it the weakest pace in 27 years. The weakness has been exacerbated by trade and tariff wars, but it also reflects a long-term underlying economic slowdown. Inevitably, growth will slow further as economic development continues, so the challenge is to constantly examine the drivers and quality of growth. 

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Singapore businesses bank on China's Belt and Road amid slowdown

SINGAPORE (July 30): Nearly one in three multinational corporations are currently involved in projects related to China’s Belt and Road Initiative (BRI), according to preliminary findings from a joint survey by the Singapore Business Federation (SBF) and accounting firm PwC.

Close to half of the 50 companies surveyed also report having plans to embark on BRI-related projects in the next three years.

China, Malaysia restart East Coast Rail Link project after year-long suspension

DUNGUN, TERENGGANU (July 25): China and Malaysia resumed construction of the East Coast Rail Link (ECRL) project in peninsula Malaysia on Thursday, after a year-long suspension and following a rare agreement to cut its cost by nearly a third to about US$11 billion ($15 billion).

The project was initially cancelled by Malaysian Prime Minister Mahathir Mohamad, who came to power after a shock election victory in May last year, as he followed through a pledge to renegotiate or cancel "unfair" Chinese mega-projects approved by his predecessor, Najib Razak.

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