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Chinese economy has softened with a cooling property market: Natixis

August 28, 2017

HONG KONG – Global asset manager Natixis says that following strong growth in the first half of 2017, the Chinese economy softened slightly in July, especially on the production side. Official PMI retreated slightly to 51.4, although the Caixin PMI improved to 51.1. “This points to a moderation of manufacturers’ expectations given the wider coverage of the official PMI,” Natixis says.

China’s industrial profits surge over 20% for first seven months

August 28, 2017

BEIJING - China’s major industrial firms posted steady profit growth in the first seven months of the year, official data shows. From January to July, industrial companies with annual revenue over RMB 20 million (USD 3 million) reported total profits of above RMB 4.2 trillion, up 21.2% from the same period in 2016, the National Bureau of Statistics said in a statement.

Philippine banks to maintain their growth trajectory – S&P

August 23, 2017

MANILA - Banks in the Philippines are set to continue to grow rapidly over the next two years, thanks to strong solid economic growth, corporate profitability, low interest rates, and a drop in nonperforming loans, according to S&P Global Ratings. The report estimates that the banking sector in Philippines will grow at
15%-17% in 2017 and 2018, after 16.5% expansion in 2016.

China urges U.S. to correct North Korean secondary sanctions “mistake”

August 23, 2017

BEIJING - China has opposed secondary sanctions related to North Korea announced by the US Treasury Department on Tuesday and called on the US Government to correct the "mistake". The US Treasury announced on Tuesday new sanctions on 16 entities and individuals, mostly from China and Russia, for alleged business ties with the missile and nuclear weapons programme in North Korea.

China promotes financing guarantees for small firms, rural sector

August 22, 2017

BEIJING - China will boost financing guarantee services for small and micro businesses and the rural sector under rules released by State Council decree. Local governments should increase fiscal support for such companies while information technology such as big data should be adopted to better meet the demands of small firms and rural development, the rules state.

China to promote foreign investment growth, release new negative list

August 17, 2017

BEIJING - The State Council, China's Cabinet, has made public a series of measures to ensuring the steady growth of foreign investment, the State newsagency Xinhua reported today. China should make its foreign investment environment "more law-based, internationalized and convenient" to promote growth and raise the quality of foreign investment, according to a State Council document.