China should quickly get out of its huge US trade problem

The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations. Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and it


The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations. Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and it
China should quickly get out of its huge US trade problem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: dr michael ivanovitch, visual china group, getty images
Keywords: news, cnbc, companies, quickly, china, trade, examinations, chinas, economic, monetary, americas, american, huge, international, problem, policies


China should quickly get out of its huge US trade problem

First, approach the issue with a sense of urgency it deserves. Promptly begin to diversify Chinese exports away from U.S. markets, and strongly step up purchases of American goods and services to quickly stop and markedly reverse the trend of China’s growing bilateral trade surpluses.

Second, with such a sincere show of good faith, Beijing should adopt regulatory changes offering internationally comparable guarantees for the protection of intellectual property and prohibition of forced technology transfers to Chinese joint-venture partners. China’s apparently large panoply of non-tariff barriers to trade should also be dismantled.

The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations.

Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. That would make sure that China’s monetary, fiscal and structural economic policies — which include both domestic and foreign trade — are fully in compliance with international rules and best practice policies.

In addition to that, China may also wish to engage in extensive biannual economic examinations with the Organization of Economic Cooperation and Development to get an independent expert assessment of the entire spectrum of its economic policies. That’s what the OECD does well, and that could be a very useful source of unbiased advice. Such examinations would also shield China from widely publicized amateurish attacks on its economic management.

Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and its managed floating exchange rate. That would preserve China’s monetary sovereignty and offer much-needed advice about the country’s highly sensitive capital account transactions.

How China frames those steps within the ongoing trade negotiations with the United States is a matter of its own judgment.

But one thing should be clear: Dragging on the negotiating process while continuing to accumulate China’s huge surpluses on American trades is over. Washington has finally come to the point where it can no longer tolerate inconclusive talk fests while China laughs all the way to the bank.

To be sure, though, getting the trade surplus issue out of the way will not radically improve the U.S.-China relations. That’s impossible as long as America’s security experts consider China a “strategic competitor” and “a revisionist power” determined to challenge America’s world order.

One could expect, however, that a meaningful progress on bilateral trade problems could open more space to address acute security issues in a constructive manner, although, again, there is no guarantee for such an outcome. China’s contested maritime borders, Korean problems and Beijing’s Belt and Road transactions will remain America’s war and peace issues for the foreseeable future.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: dr michael ivanovitch, visual china group, getty images
Keywords: news, cnbc, companies, quickly, china, trade, examinations, chinas, economic, monetary, americas, american, huge, international, problem, policies


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Elon Musk’s SpaceX appears to be the front-runner to win a valuable NASA moon mission

ULA, the joint venture of Boeing and Lockheed Martin, launched the first test flight of the Orion program on its Delta IV Heavy rocket in December 2014. Bridenstine pointed to that mission as an example of how NASA has leveraged commercial rockets successfully. But Delta IV Heavy comes at a steep price, at more than $350 million per launch. Additionally, ULA says Delta IV rockets require two to three years from order to launch. Whether or not the mission could launch on Delta IV Heavy is a “ques


ULA, the joint venture of Boeing and Lockheed Martin, launched the first test flight of the Orion program on its Delta IV Heavy rocket in December 2014. Bridenstine pointed to that mission as an example of how NASA has leveraged commercial rockets successfully. But Delta IV Heavy comes at a steep price, at more than $350 million per launch. Additionally, ULA says Delta IV rockets require two to three years from order to launch. Whether or not the mission could launch on Delta IV Heavy is a “ques
Elon Musk’s SpaceX appears to be the front-runner to win a valuable NASA moon mission Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: michael sheetz, nasa, kim shiflett, vcg, visual china group, getty images
Keywords: news, cnbc, companies, musks, moon, elon, frontrunner, appears, ula, valuable, win, rockets, launch, mission, spacex, bridenstine, iv, commercial, heavy, nasa, told, delta


Elon Musk's SpaceX appears to be the front-runner to win a valuable NASA moon mission

NASA administrator Jim Bridenstine told a Senate committee on Wednesday the agency will consider using commercial rockets for its lunar crew test flight, opening the door for SpaceX to win a pair of potentially lucrative launch contracts.

“I think we should launch around the moon in June of 2020, and I think it can be done. We need to consider as an agency all options to accomplish that objective,” Bridenstine said. “Some of those options would include launching the Orion crew capsule and the European service module on a commercial rocket.”

Instead of the space agency’s own SLS rocket, Bridenstine said NASA “could use two heavy-lift rockets” to send the two spacecrafts into orbit. Bridenstine also mentioned the “amazing capability that exists right now” in the U.S., and that means only two commercial possibilities: SpaceX and United Launch Alliance.

ULA, the joint venture of Boeing and Lockheed Martin, launched the first test flight of the Orion program on its Delta IV Heavy rocket in December 2014. Bridenstine pointed to that mission as an example of how NASA has leveraged commercial rockets successfully. But Delta IV Heavy comes at a steep price, at more than $350 million per launch. Additionally, ULA says Delta IV rockets require two to three years from order to launch. Whether or not the mission could launch on Delta IV Heavy is a “question of whether ULA has one ready,” space policy consultant Jim Muncy told CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: michael sheetz, nasa, kim shiflett, vcg, visual china group, getty images
Keywords: news, cnbc, companies, musks, moon, elon, frontrunner, appears, ula, valuable, win, rockets, launch, mission, spacex, bridenstine, iv, commercial, heavy, nasa, told, delta


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Chinese smartphone sales keep on falling — that’s likely bad news for Apple

China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market. Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology. Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent ye


China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market. Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology. Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent ye
Chinese smartphone sales keep on falling — that’s likely bad news for Apple Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, visual china group, getty images
Keywords: news, cnbc, companies, apple, according, china, bad, sales, smartphone, falling, totaled, data, thats, worst, yearonyear, released, month, chinese, likely, shipments


Chinese smartphone sales keep on falling — that's likely bad news for Apple

China’s mobile phone market suffered its worst month in years as device shipments plunged, with the data potentially highlighting further signs of pain for Apple in the world’s largest smartphone market.

Mobile phone shipments in China totaled 14.51 million in February, a nearly 20 percent year-on-year fall, according to data released Tuesday by the China Academy of Information and Communications Technology.

Shipments of smartphones specifically totaled 13.8 million, a fall of over 20 percent year-on-year, according to CAICT, a government-backed research institute.

February is typically weak for smartphone sales in China because of a the week-long Chinese New Year public holiday and the fact that new phones are released toward the back-end of the month. But February 2019 was the worst month for shipments going back to at least 2013, according to publicly available data from CAICT.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, visual china group, getty images
Keywords: news, cnbc, companies, apple, according, china, bad, sales, smartphone, falling, totaled, data, thats, worst, yearonyear, released, month, chinese, likely, shipments


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The US and China are reaching greater mutual understanding on trade, says ex-Beijing official

The U.S. and China are reaching greater consensus on trade issues, a former official at the Chinese commerce ministry told CNBC on Thursday. “Within the last nine months, we had three rounds of consultations; I think we have more and more consensus about it,” said Jin Xu, a former senior commerce ministry official. According to sources who spoke to CNBC, Washington and Beijing are approaching the finish line on trade negotiations that could end later this month. “Both countries agree to have mor


The U.S. and China are reaching greater consensus on trade issues, a former official at the Chinese commerce ministry told CNBC on Thursday. “Within the last nine months, we had three rounds of consultations; I think we have more and more consensus about it,” said Jin Xu, a former senior commerce ministry official. According to sources who spoke to CNBC, Washington and Beijing are approaching the finish line on trade negotiations that could end later this month. “Both countries agree to have mor
The US and China are reaching greater mutual understanding on trade, says ex-Beijing official Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: huileng tan, xu congjun, visual china group, getty images
Keywords: news, cnbc, companies, official, exbeijing, understanding, mutual, trade, meeting, greater, consensus, worlds, china, jin, told, ministry, negotiations, reaching


The US and China are reaching greater mutual understanding on trade, says ex-Beijing official

The U.S. and China are reaching greater consensus on trade issues, a former official at the Chinese commerce ministry told CNBC on Thursday.

“Within the last nine months, we had three rounds of consultations; I think we have more and more consensus about it,” said Jin Xu, a former senior commerce ministry official. Jin was also previously a diplomat to the U.S., U.K. and Turkey.

According to sources who spoke to CNBC, Washington and Beijing are approaching the finish line on trade negotiations that could end later this month.

“Both countries agree to have more and more mutual understanding and also want to build much better relations for business people for the two countries,” Jin told CNBC’s Martin Soong in Beijing.

“If we have more and more consensus, the world will benefit from it,” said Jin, emphasizing that China is the world’s largest developing country and the U.S. is the world’s largest developed country.

Jin, who is now the chairman of China International Trade Association, said he was hopeful for a positive outcome from the talks and that China will make policy adjustments accordingly.

China is currently in the midst of a two-week long annual parliamentary meeting, the National People’s Congress, which kicked off on Tuesday and ends next Friday (Mar. 5-15).

At the opening of that meeting this week, Premier Li Keqiang said the Chinese economy will likely slow this year, and revealed that the official economic growth target for 2019 will be 6.0 to 6.5 percent. That compares to an expansion of 6.6 percent in 2018 — its slowest growth since 1990.

Li also said the country’s months-long tariff war with the U.S. has hurt business activities — but he reiterated Beijing’s commitment to “safeguarding economic globalization” and pledged to promote China-U.S. trade negotiations while advancing negotiations on other trade agreements.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: huileng tan, xu congjun, visual china group, getty images
Keywords: news, cnbc, companies, official, exbeijing, understanding, mutual, trade, meeting, greater, consensus, worlds, china, jin, told, ministry, negotiations, reaching


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse

China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday. Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature. In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 bil


China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday. Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature. In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 bil
Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: kelly olsen, visual china group, getty images
Keywords: news, cnbc, companies, wake, credit, consumer, woods, stocks, market, infrastructure, shanghai, suisse, jump, positive, growth, cuts, set, sectors, chinese, think, stimulus, li


Shanghai stocks are set to jump another 10 percent in wake of Chinese stimulus: Credit Suisse

China’s benchmark stock index could rise another 10 percent on the back of “market positive” Chinese policy announcements, John Woods, chief investment officer for Asia Pacific at Credit Suisse, said Wednesday.

Woods’ comments to CNBC came in reaction to Chinese Premier Li Keqiang’s speech Tuesday at the National People’s Congress, China’s legislature.

Li highlighted risks threatening the world’s second-largest economy as the government lowered its economic growth target range to between 6 percent and 6.5 percent.

In response, Li unveiled stimulus measures,including infrastructure spending and cuts in taxes and fees worth nearly 2 trillion yuan ($289.28 billion). Those included cuts in the value-added tax rate for manufacturing, transportation and construction.

“We took the decisions as being market positive,” said Woods. “We think that the focus on infrastructure clearly lends itself to those commodities and equities which are in that space and we think will perform well.”

He added that the VAT reductions will have a positive impact on a host of sectors, including consumer staples, consumer discretionary, materials and industrials and energy.

“Those are the sectors which our analysis suggests will benefit with an uptick in earnings growth of between 2 and 3 percent, which is meaningful, which is substantial,” Woods said.

“So more broadly, the Shanghai composite I think’s got another 10 percent upside before I start to take profit,” he said. “But, of course, if the retail investor starts to engage, it could move substantially higher.”

Woods added that he was impressed that the legislature was focused on the private sector: “To me, that’s the main takeaway,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: kelly olsen, visual china group, getty images
Keywords: news, cnbc, companies, wake, credit, consumer, woods, stocks, market, infrastructure, shanghai, suisse, jump, positive, growth, cuts, set, sectors, chinese, think, stimulus, li


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China publishes final rules for new Nasdaq-style tech board

China has finalized regulations for a Nasdaq-style innovation board that promises to smooth the way for Chinese technology IPOs and, if successful, could raise Shanghai’s profile as a capital-raising competitor to Hong Kong and New York. The stock market regulator late on Friday published the rules for the tech board after considering opinions from the public on draft regulations that were introduced on Jan. 30. Listings on the new board will be done according to a registration system that limit


China has finalized regulations for a Nasdaq-style innovation board that promises to smooth the way for Chinese technology IPOs and, if successful, could raise Shanghai’s profile as a capital-raising competitor to Hong Kong and New York. The stock market regulator late on Friday published the rules for the tech board after considering opinions from the public on draft regulations that were introduced on Jan. 30. Listings on the new board will be done according to a registration system that limit
China publishes final rules for new Nasdaq-style tech board Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-02  Authors: visual china group, getty images
Keywords: news, cnbc, companies, tech, ipos, china, chinese, technology, board, publishes, final, rules, kong, stock, regulations, hong, nasdaqstyle, raise


China publishes final rules for new Nasdaq-style tech board

China has finalized regulations for a Nasdaq-style innovation board that promises to smooth the way for Chinese technology IPOs and, if successful, could raise Shanghai’s profile as a capital-raising competitor to Hong Kong and New York.

The stock market regulator late on Friday published the rules for the tech board after considering opinions from the public on draft regulations that were introduced on Jan. 30.

They took effect immediately.

Listings on the new board will be done according to a registration system that limits official powers to control the timing of IPOs. In addition, some companies that are not yet profitable will be allowed to go public.

Those provisions alleviate two major impediments to companies seeking to tap existing equity capital markets in China.

China has long wanted its tech champions to list closer to home, but many of the best-known Chinese technology firms, including Alibaba Group and Tencent Holdings, chose to raise funds in international markets.

New York and Hong Kong accounted for nearly 70 percent of the money raised through Chinese IPOs last year.

In another sign plans for the new board are progressing, the financial news website Caixin reported that the Shanghai Stock Exchange had completed recruiting employees for the board and they were slated to start work in mid-March.


Company: cnbc, Activity: cnbc, Date: 2019-03-02  Authors: visual china group, getty images
Keywords: news, cnbc, companies, tech, ipos, china, chinese, technology, board, publishes, final, rules, kong, stock, regulations, hong, nasdaqstyle, raise


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China economy: February Caixin manufacturing Purchasing Managers Index

A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February. However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. The official manufacturing gauge also hit a three-year low. Still, averaging the indices for January and February showed


A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February. However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. The official manufacturing gauge also hit a three-year low. Still, averaging the indices for January and February showed
China economy: February Caixin manufacturing Purchasing Managers Index Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: huileng tan, vcg, visual china group, getty images
Keywords: news, cnbc, companies, index, showed, reading, manufacturing, private, pmi, economic, purchasing, caixin, official, economy, china, month, survey, managers, activity


China economy: February Caixin manufacturing Purchasing Managers Index

A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 49.9 for February — higher than January’s reading of 48.3, and better than the 48.5 that economists polled by Reuters had forecast.

However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. A reading below 50 signals contraction, while a reading above that level indicates expansion.

The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. It is closely watched as an alternative to the official PMI.

“Domestic manufacturing demand improved significantly, and foreign demand was not deteriorating as quickly as last year,” wrote Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

Still, new export orders slipped back into contractionary territory, he noted.

The results of the private survey came on the heels of official PMI China released on Thursday which showed manufacturing activity fell for the third straight month, dropping to 49.2 in February from 49.5 in January, according to data released by the country’s National Bureau of Statistics. The official manufacturing gauge also hit a three-year low.

The two surveys offered mixed signals about the strength of the manufacturing cycle in February as the private poll offered some hope that there was uptick in activity from the month before.

“But on balance, they remain consistent with our expectation for a further slowdown in economic growth in Q1,” wrote Julian Evans-Pritchard, senior China economist at Capital Economics, in a note on Friday.

“The sharp movements in the Caixin PMI during the past two months hint at possible residual seasonality caused by shifts in the timing of Chinese New Year,” Evans-Pritchard added. The week-long public holidays in China started in early February this year.

Still, averaging the indices for January and February showed activity still looked to have softened at the start of 2019, he added.

“The upshot is that it is probably too soon to call the bottom of the current economic cycle. Indeed, we expect growth to continue to come under pressure until the middle of this year,” Evans-Pritchard wrote.

Investors have been closely watching economic indicators from the world’s second-largest economy for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade dispute.

The manufacturing data come days before China’s annual meeting of parliament which starts on March 5. Top officials are widely expected to announce more support measures such as sweeping tax cuts to reduce the strains on the economy.

Chinese leaders will also reveal Beijing’s key economic and financial targets for the year which may provide clues on their future policy stance.

Actual growth in the world’s second-largest economy cooled to 6.6 percent in 2018 — the slowest in 28 years — from 6.8 percent in 2017.

— CNBC’s Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: huileng tan, vcg, visual china group, getty images
Keywords: news, cnbc, companies, index, showed, reading, manufacturing, private, pmi, economic, purchasing, caixin, official, economy, china, month, survey, managers, activity


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China factory activity shrinks to 3-year low in February, export orders worst in a decade

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad. “Unless the trade war truly turns into an extended truce, the weakening trend may not end quickly,” Iris Pang, Greater China economist at ING, said in a note. A breakdown of the survey’s findings showed the output sub-index fell to 49.5 from 50.9 the previous month. The


Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad. “Unless the trade war truly turns into an extended truce, the weakening trend may not end quickly,” Iris Pang, Greater China economist at ING, said in a note. A breakdown of the survey’s findings showed the output sub-index fell to 49.5 from 50.9 the previous month. The
China factory activity shrinks to 3-year low in February, export orders worst in a decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: zhejiang daily, visual china group, getty images
Keywords: news, cnbc, companies, worst, factory, 3year, fell, war, subindex, decade, china, activity, low, shrinks, growth, export, global, straight, orders, trade


China factory activity shrinks to 3-year low in February, export orders worst in a decade

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.

The gloomy findings are likely to reinforce views that the world’s second-largest economy is still losing steam, after growth last year cooled to a near 30-year low.

Even with increasing government stimulus to spur activity, concerns are growing that China may be at risk of a sharper slowdown if current Sino-U.S. trade talks fail to relieve some of the pressure.

The official Purchasing Managers’ Index (PMI) fell for the third straight month, dropping to 49.2 in February from 49.5 in January, according to data released by the National Bureau of Statistics (NBS) on Thursday. The 50-mark separates growth from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the gauge would stay unchanged from January’s 49.5.

“Unless the trade war truly turns into an extended truce, the weakening trend may not end quickly,” Iris Pang, Greater China economist at ING, said in a note. “As such we expect March’s PMI to fall, too.”

Manufacturing output contracted in February for the first time since January 2009, during the depths of the global crisis. A breakdown of the survey’s findings showed the output sub-index fell to 49.5 from 50.9 the previous month.

Manufacturers also continued to cut jobs, a trend Beijing is closely watching as its weighs more support measures.

New export orders shrank for a ninth straight month, and at a sharper rate, amid faltering global demand. The sub-index fell to 45.2, the lowest since February 2009, from 46.9 in January.

But total new orders — an indicator of future activity — edged back into expansionary territory, suggesting some improvement in domestic demand. The sub-index rose to 50.6 from 49.6 in January, after falling for two consecutive months.

However, China watchers typically advise caution over interpreting the country’s economic data early in the year because of the timing of the week-long Lunar New Year holidays.

Many firms scale back operations or close for long periods around the holidays, which began on Feb. 4 this year. But workers, business owners and labor activists have told Reuters that companies have shut earlier than usual as the trade war bites, with some likely to close for good.

Ford Motor Co’s joint venture in China has quietly begun dismissing thousands of its workers due to weak auto sales in the world’s second-largest economy, the New York Times reported on Wednesday.

Record lending by Chinese banks in January and a sharp rebound in its stock markets have lifted some of the gloom hanging over its economy.

But analysts say it will take months to see if the strong credit impulse translates into improved business activity, assuming companies are borrowing for fresh expansion or investment, not merely refinancing existing debt.

Some economists believe growth could even dip below 6 percent in the first half — from 6.4 percent in the fourth quarter — before stabilizing later in the year as a series of support measures in 2018 and 2019 begin to take effect.

Uncertainty also hangs over ongoing China-U.S. trade talks.

President Donald Trump said on Monday that he may soon sign a deal with Chinese President Xi Jinping to end the countries’ trade war, if the two sides can bridge remaining differences.

But the lead U.S. negotiator said on Wednesday it was too early to predict the outcome.

U.S. issues with China are “too serious” to be resolved with promises from Beijing to purchase more U.S. goods and any deal between the two countries must be include a way to ensure commitments are met, U.S. Trade Representative Robert Lighthizer said.

Growth in China’s services industry also cooled in February after rebounding for two straight months, another sign of strain as consumers turn more cautious about spending.


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: zhejiang daily, visual china group, getty images
Keywords: news, cnbc, companies, worst, factory, 3year, fell, war, subindex, decade, china, activity, low, shrinks, growth, export, global, straight, orders, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China’s new securities chief says markets are still full of risks

China’s newly appointed securities regulator said Wednesday that the country’s capital markets still contain many risks. Yi discussed on Wednesday his “four essentials” for healthy development of capital markets, which focused on greater respect for markets, the law, professionalism and risks. The commission also noted in a paper handout that it is closely monitoring U.S.-China trade tensions. “We need to increase U.S.-China market cooperation,” Fang Xinghai, vice chair of the commission, said a


China’s newly appointed securities regulator said Wednesday that the country’s capital markets still contain many risks. Yi discussed on Wednesday his “four essentials” for healthy development of capital markets, which focused on greater respect for markets, the law, professionalism and risks. The commission also noted in a paper handout that it is closely monitoring U.S.-China trade tensions. “We need to increase U.S.-China market cooperation,” Fang Xinghai, vice chair of the commission, said a
China’s new securities chief says markets are still full of risks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: evelyn cheng, visual china group, getty images
Keywords: news, cnbc, companies, stock, markets, market, trade, chinas, chinese, support, securities, uschina, chief, risks, growth, commission, investment


China's new securities chief says markets are still full of risks

China’s newly appointed securities regulator said Wednesday that the country’s capital markets still contain many risks.

“Right now, due to the impact of many domestic and foreign factors, the capital market risk situation is still grim and complex,” Yi Huiman, chairman of the Chinese Securities Regulatory Commission, said in Mandarin during a press conference, his first in the role.

He added, according to a CNBC translation, that the commission will work urgently and in a precise manner to prevent and diffuse risks in areas such as stock pledges, bond defaults and private equity funds.

Beijing tried to maintain market stability during last year’s plunge by encouraging investors to support companies that faced challenges from putting shares up as collateral.

Yi discussed on Wednesday his “four essentials” for healthy development of capital markets, which focused on greater respect for markets, the law, professionalism and risks.

The commission also noted in a paper handout that it is closely monitoring U.S.-China trade tensions.

“We need to increase U.S.-China market cooperation,” Fang Xinghai, vice chair of the commission, said at the press conference. “We think this kind of work has benefits.”

Fang and Yi did not give much detail in response to a question about China’s initiatives to open up its financial sector. The bulk of the more than one-hour-long press conference focused on plans for a new science and technology stock listing board expected to launch in Shanghai later this year.

Yi was appointed chairman of the China Securities Regulatory Commission in late January. He was previously the chairman of the Industrial and Commercial Bank of China, one of the country’s four major state-owned banks.

Chinese stocks have surged in the last few weeks, helped by improved sentiment about U.S.-China trade tensions, government support and foreign inflows.

The Shanghai composite is up more than 20 percent from a low hit in early January, putting the index back into bull market territory. The CSI 300 and Shenzhen component have climbed at a faster pace, up more than 23 and 26 percent, respectively, for the year so far.

Morgan Stanley raised its targets on Chinese stocks in a Tuesday report, citing stronger-than-expected stimulus, a stronger currency forecast, and greater expectations for a U.S.-China trade deal. Equity Strategist Laura Wang and her team now expect further gains of about 15 percent for the CSI 300 by the end of the year. The strategists also pointed to broader government support for the market.

Chinese President Xi Jinping said on Feb. 22 his government needs to improve reform of financial markets and spoke generally in support of financial services.

Larry Hu, chief China economist at Macquarie, struck a more negative tone on the market’s latest rally and the economic backdrop in a Tuesday note.

“Given we don’t think the strong credit growth in (January) is sustainable, growth deceleration could continue in the months ahead,” Hu said. “Out of the three major growth drivers of the Chinese economy, both property investment and exports grew around 10% last year while infrastructure investment slowed to 2% growth. This year, we expect just the opposite. Both property investment and exports would slow to low single-digit growth while infrastructure investment could rebound to 10%.”

Chinese stock markets were one of the worst performers in the world last year. The Shanghai composite fell into a bear market — more than 20 percent from a recent high — in June 2018. Losses accelerated as the Chinese economy slowed, pressured by Beijing’s efforts to reduce reliance on high debt levels for growth. Rising trade tensions with the U.S. also added to uncertainty.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: evelyn cheng, visual china group, getty images
Keywords: news, cnbc, companies, stock, markets, market, trade, chinas, chinese, support, securities, uschina, chief, risks, growth, commission, investment


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Alibaba CEO rules out layoffs this year despite China’s slowing economy

Alibaba expects to avoid layoffs this year despite China’s economic slowdown, CEO Daniel Zhang said on Friday. The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China’s internet sector amid weakening domestic demand and an prolonged trade dispute with the United States. “When the economy is bad, the biggest advantage for online platforms is to create jobs.” This week reports circulated in Chinese media that e-commerce site and Alibaba rival J


Alibaba expects to avoid layoffs this year despite China’s economic slowdown, CEO Daniel Zhang said on Friday. The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China’s internet sector amid weakening domestic demand and an prolonged trade dispute with the United States. “When the economy is bad, the biggest advantage for online platforms is to create jobs.” This week reports circulated in Chinese media that e-commerce site and Alibaba rival J
Alibaba CEO rules out layoffs this year despite China’s slowing economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: wei zhiyang zhejiang daily press group, visual china group, getty images
Keywords: news, cnbc, companies, platforms, chinas, weibo, ceo, media, cuts, slowing, layoffs, despite, rules, alibaba, wont, reports, economy, chinese, zhang


Alibaba CEO rules out layoffs this year despite China's slowing economy

Alibaba expects to avoid layoffs this year despite China’s economic slowdown, CEO Daniel Zhang said on Friday.

The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China’s internet sector amid weakening domestic demand and an prolonged trade dispute with the United States.

“This year we not only won’t layoff employees, we will continue to utilise the resources on our platforms to boost consumption, bringing in more manufacturing and services orders,” Zhang said in a Weibo post.

“When the economy is bad, the biggest advantage for online platforms is to create jobs.”

This week reports circulated in Chinese media that e-commerce site and Alibaba rival JD.com Inc would lay off 10 percent of its senior executives. The company declined to comment directly on the cuts.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: wei zhiyang zhejiang daily press group, visual china group, getty images
Keywords: news, cnbc, companies, platforms, chinas, weibo, ceo, media, cuts, slowing, layoffs, despite, rules, alibaba, wont, reports, economy, chinese, zhang


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post