NEW DELHI - First advance estimates for full year FY2018 (fiscal year ending March 2018) for India show that GDP growth is expected to slow to 6.5% for that period from 7.1% in the 12 months to March 2017. However, the forecast is mainly predicated on soft H1 FY2018 growth, ANZ Bank says.
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BEIJING - Top researchers at China’s central bank, the People’s Bank of China, have agreed that higher interest rates will help squeeze asset bubbles and restrain debt expansion, providing a tool for broader oversight of financial activities, the China Daily reports.
HONG KONG – BBVA’s China Vulnerability Sentiment Index (CVSI) ended 2017 on a high note, extending previous gains. The improvement was underpinned by a shift in policy focus towards quality of growth, PBOC’s prudent monetary policy stance, a stable yuan and ongoing efforts to curb risks to financial stability emanating from housing, SOEs and the shadow banking sector, BBVA said.
SHANGHAI - During the 2018 New Year's holiday (December 30, 2017 to January 1, 2018), the total transaction volume of UnionPay reached a new record high of 700.8 billion yuan, growing by 36.8% compared to the 2017 New Year holiday period.
BEIJING - China won’t approve new commercial land-reclamation projects in 2018, amid rising concerns that such projects have led to severe damage of the marine ecosystem, according to a report today in Caixin.
SEOUL – Moves are under way to arrange formal preliminary talks between North and South Korea at Panmunjom on the North/South border on January 9 following comments by North Korea’s leader, Kim Jong-un, in his New Year message.
South Korea’s Ministry for Unification says it has proposed to Pyongyang that North Korea send a delegation for discussions with South Korean officials in February, during the 2018 Winter Olympics in Pyeongchang.
In Beijing on Tuesday, a Foreign Ministry spokesman said China supports the idea of North and South Korea using the 2018 Winter Olympics to improve ties.
"We have noticed the positive information from the leaders of the two countries . . . It is a good thing," Foreign Ministry spokesman Geng Shuang said at a regular news conference in Beijing.
"China welcomes and supports both countries to use the 2018 Winter Olympics as an opportunity to make effective efforts to improve their relations, relax the situation on the Korean Peninsula and promote denuclearisation of the peninsula."
BEIJING - President Xi Jinping yesterday called on China's diplomats to remain loyal to the Party and to make contributions to the nation, according to a China Daily report.
HONG KONG - Retail business in Hong Kong’s export markets is expected to grow in 2018, according to a worldwide study of year-end sales released today by the Hong Kong Trade Development Council (HKTDC).
HONG KONG – Amendments to China’s Anti-Unfair Competition Law (the AUCL) which become effective on January 1, 2018 provide clarity on what constitutes trade secret infringement in China. The amendments increase penalties to strengthen trade secret protections.
HO CHI MINH CITY - Labour costs in 2018 for businesses in Vietnam are expected to rise as a result of (i) an increase in minimum salaries set out by the Government, including both General Minimum Salary and Regional Minimum Salary, and (ii) the application of a social insurance scheme for two additional groups of employees - those working under labour contracts from one (1) full month to under three (3) months and foreign employees working in Vietnam.
MARSEILLES – The CMA CGM maritime transport Group, which includes ANL, has launched the first in a package of new products offering customer protection for unforeseen events during freight transport.
BEIJING – At their third summit since Moon Jae-in took office, the Korean President and Cinese leader Xi Jinping have agreed on a new set of four principles aimed at securing peace and security on the Korean peninsula.
BEIJING - China hopes US national security strategy will promote strategic mutual trust between the two countries, Foreign Ministry spokeswoman Hua Chunying said on Monday, ahead of a major speech on security by US President Donald Trump.
HONG KONG - The Hong Kong Trade Development Council (HKTDC) expects Hong Kong exports to increase in value by six per cent, while the volume of exports is anticipated to grow by four per cent in 2018. HKTDC Director of Research Nicholas Kwan attributes the rise to broad-based expansion in investment, trade and consumption, coupled with strengthening consumer and business confidence.
BEIJING - Deer Jet has become the first Chinese private jet operator to fly from China to the Antarctic, with the company saying the arrival of one its private jets at Wolfs Fang airport marks the beginning of a new charter service between China and the Antarctic.
BEIJING – China’s State newsagency Xinhua is reporting that Chinese central authorities yesterday launched a project to use the Internet to promote core socialist values. "The core values should be observed in online publicity campaigns, online culture and Internet services," said a statement jointly issued by six central agencies, including the Publicity Department of the Communist Party of China (CPC) Central Committee.