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Consumption accounted for record 60% of China’s GDP in first half of 2015

July 17, 2015

BEIJING - Consumption accounted for a record 60% of China’s GDP in the first half of the year, a strong indication that the rebalancing of the economy has gained momentum. The not-so-good news is that there was a sharp decline in investment growth due to a weak property market and manufacturing sector, in addition to insufficient funding from local governments.

Global corporate debt demand to decline to US$57 trillion as credit risk concentrates In China, US: S&P

July 16, 2015

HONG KONG - Global corporate debt demand will peak at an estimated US$57 trillion by 2019, a decline of 4% from last year's projection, according to an annual forecast of corporate borrowing needs published today by Standard & Poor's. Prospects of rising defaults in what is now the world's biggest corporate debt market — China — and the surge in leveraged finance in the US pose the most significant risks to corporate credit around the world, the report says.

Thai Government puts plan to buy Chinese submarines on hold

July 15, 2015

BEIJING - A Thailand-China government-to-government deal for Thailand to purchase three made-in-China submarines has suddenly been put on hold by the military-led government. Defense Minister and Deputy Prime Minister General, Prawit Wongsuwan, said that the Navy chief, Admiral Kraisorn Chansuvanit, should review the Navy’s plan, particularly taking into account the public reception.

China’s State Council vows to keep yuan “basically stable”

July 16, 2015

BEIJING - As China continues to pool all efforts in pursuit of joining the IMF’s Special Drawing Rights system of international reserve currencies, an executive meeting of the country’s State Council presided over by Chinese Premier Li Keqiang has pledged to keep the yuan exchange rate “basically stable” in the wake of the stock market crisis and decreasing investor confidence.

China’s soft PMI calls for policy recalibration, says ANZ

July 1, 2015

HONG KONG – With China’s official manufacturing PMI, the bellwether of large industrial firms, remaining unchanged at 50.2 in June and the HSBC China flash PMI, representing a group of private-sector and small and medium enterprises, edging up from 49.2 to 49.6 in the same month, ANZ Bank says further monetary easing in China is “highly needed”.

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