BEIJING - China has launched a crackdown on websites, online stores, mobile applications and social media that distribute pirated or illegal publications. The State newsagency Xinhua says the nationwide campaign aims to protect the intellectual property rights of publications of the press, publication and media industry, and of e-commerce platforms and mobile applications.
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BEIJING - India is likely to launch an anti-dumping investigation against Chinese solar panels soon, potentially adding to similar sanctions from the U.S. and Europe. “I’m expecting that, in the next few days, India will officially issue a statement triggering the probe,” said Zhang Sen, general secretary of the solar division of the China Chamber of Commerce for Import & Export of Machinery & Electronic Products.
BEIJING - The International Monetary Fund has revised upwards its China growth forecasts for 2017 and 2018 to 6.7% and 6.4% respectively, with the better China prospects expected to drive global expansion.
HONG KONG - China’s outbound mergers and acquisitions rebounded in the second quarter of 2017 with deal value surging 148% quarter on quarter. Chinese investors returned to the deal table in the April-June period after a lukewarm first quarter and were the second most acquisitive cross-border nation by value with 94 deals totalling US$ 35.9 billion, according to international law firm Baker McKenzie’s Cross-Border M&A Index.
ADELAIDE – A food industry collaboration MoU between Singapore and South Australia has been signed to improve access to clean, green produce from Australia and to boost food innovation technologies in both countries.
BEIJING - China’s installed solar power capacity surged over the first six months of this year because of shrinking costs and Government policies, with 23.6 gigawatts of solar power installed, 34.2% higher from a year ago, according to Alex Liu, a UBS analyst.
BEIJING - China will establish national-level demonstration areas for its “Made in China 2025” plan, a blueprint to upgrade the country’s manufacturing sector. The national demonstration areas will be established in cities and city clusters in the eastern, central and western regions, according to a decision made at a State Council executive meeting chaired by Premier Li Keqiang.
WASHINGTON – China’s Vice Premier, Wang Yang, has called on the United States to relax export barriers against China and allow the two sides to tap the huge market potential in bilateral trade, the State newsagency, Xinhua, reports.
SINGAPORE - S&P Global Ratings has assigned its 'AAA/A-1+' long- and short-term issuer credit ratings to Asian Infrastructure Investment Bank (AIIB), and says the outlook is stable.
GUJARAT – Australia’s Woolmark Company has announced the second phase of its successful "Grown In Australia, Made In India" initiative. The key campaign will continue to highlight the farm-to-fashion journey of Merino wool grown in Australia before being transformed into fashion pieces in India, championing both the woolgrowers of Australia and the handloom sector of India.
HO CHI MINH CITY - After disappointing GDP growth in the first quarter of 5.15% YoY, Vietnam achieved 6.17% YoY for the second quarter, taking the figure for the first half to 5.73% YoY. Sector-wise, solid growth continued to be seen in the manufacturing and construction sectors (+10.5% YoY and +8.5% YoY in 1H, respectively), but the mining sector was still weak (-8.2% YoY) due to low oil prices.
SHANGHAI - China’s nonfinancial outbound direct investment (ODI) dropped significantly during the first half of this year as companies spent less on overseas mergers and acquisitions. Caixin reports that Chinese companies spent US$48.2 billion as ODI from January through June, a decline of 45.8% from the same period in 2016, Commerce Ministry spokesman Gao Feng told a news conference.
BEIJING – Around 20 Chinese and U.S. enterprises on Thursday signed agricultural transaction contracts worth US$5.012 billion, under which Chinese enterprises will import 12.53 million metric tonnes of soybean and 371 tonnes of pork and beef from the U.S, companies.
BEIJING - China’s central bank yesterday announced lending worth RMB360 billion (USD 53 billion) via the medium-term lending facility to keep liquidity stable. The loans will mature in one year with an interest rate of 3.2%, according to the People’s Bank of China.
The MLF was first introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank by using securities as collateral.
HONG KONG - OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX) that was set up in 2013 to provide clearing services for over-the-counter derivatives, has welcomed Australia’s ANZ Bank as a clearing member. ANZ’s membership took effect from July 10.
MUMBAI – ANZ Bank is tipping an interest rate cut of 0.25% for India at the Central Bank meeting in August, with inflation dipping to a series low of 1.54j% y/y in June. ANZ says that apart from the benefit of a favourable base effect, a key reason for the moderation is benign food prices.