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Asia Economy Last Updated: Oct 9, 2015 - 12:32 AM

Asia Economy

A report Wednesday on Australian consumer confidence showed a sharp fall, just a week after a prominent economist warned that economic problems in China may trigger the first economic downturn in Australia for almost a quarter century.

Sep 10, 2014 - 8:20 AM

Asia Economy
China's manufacturing sector moved towards stagnation in August with factory output slowing, according to two PMI (purchasing managers’ index) measures published Monday.
Sep 1, 2014 - 5:41 AM

Asia Economy
Growth in China's manufacturing sector slowed to a three-month low in August as output and new orders moderated, a flash PMI survey (purchasing managers' index) survey showed on Thursday.
Aug 21, 2014 - 9:57 AM

Asia Economy
The average price of new homes in China fell for a third straight month in July, falling almost twice as fast as in June, as developers cut prices in response to slowing demand.
Aug 19, 2014 - 8:04 AM

Asia Economy
The European Chamber  of Commerce in China suggested on Wednesday that China's anti-trust probes are unfairly targeting foreign  firms with different rules applying to domestic firms.
Aug 14, 2014 - 8:25 AM

Asia Economy
Japan's GDP (gross domestic product) shrank an annualized 6.8% in the second quarter (Q2 2014), plunging at its quickest pace since the March 2011 earthquake-tsunami disaster and hurt by the 3-percentage-point consumption tax hike to 8% from April 1.
Aug 13, 2014 - 7:59 AM

Asia Economy
A flash PMI (purchasing managers' index) measure of Chinese manufacturing activity rose to an 18-month high in July, in a sign that the government's efforts to stimulate the economy are having an impact.
Jul 24, 2014 - 2:02 AM

Asia Economy
China’s total debt surged to 251% of GDP at the end of June 2014 from 147% at the end of 2008, according to Stephen Green, chief China economist at Standard Chartered Bank.
Jul 22, 2014 - 7:39 AM

Asia Economy
China's economy grew 7.4% year on year in the first half of 2014, the National Bureau of Statistics (NBS) announced in Beijing Wednesday.
Jul 16, 2014 - 7:33 AM

Asia Economy

South Korea and Japan lead the developed world for the ratio of their workforces in low-paid irregular/ temporary work and they already provide a grim scenario of a future world of irregular work where countries are both rich and poor.

Jul 11, 2014 - 7:38 AM

Asia Economy
Chinese exports grew slightly in June on the back of strengthening EU and US consumer demand, in a positive sign for China's factory sector and for the global economic outlook.
Jul 10, 2014 - 8:32 AM

Asia Economy
The World Bank said on Tuesday that as China gets wealthier, it’s also determined to get healthier. The health sector is growing faster than the general economy.
Jul 9, 2014 - 12:23 AM

Asia Economy
A Swiss-Chinese free trade agreement is making exporting to China more attractive for Swiss milk producers, but exporters and farmers - - one of whom runs two Chinese stores - - say it’s harder than it seems to gain a foothold in such a huge market where uncertainty remains.
Jul 8, 2014 - 2:32 AM

Asia Economy
China's official purchasing managers' index (PMI), which is mainly a measure of manufacturing activity in large state-owned enterprises, rose slightly to 51.0 in June from 50.8 in May, a six-month high, boosted by new orders and export orders, but expectations for future business dropped slightly. A reading above 50 indicates an expansion in manufacturing activity over the previous month, while a reading below indicates a contraction. Meanwhile the HSBC bank sponsored index rose to 50.7 in June, from 49.4 in May and the first time this year that it moved above 50. Elsewhere in Asia, there were rises in June PMIs in Japan and India while manufacturing in South Korea contracted.
Jul 1, 2014 - 7:36 AM

Asia Economy
Switzerland has denied preparing a list of tax dodgers for the Indian authorities amid mounting pressure on the alpine state. Even with a global standard on Automatic Information Exchange (AIE) in the works, repatriating money from offshore havens like Switzerland may not be easy.
Jun 24, 2014 - 1:28 AM

Asia Economy
A Chinese manufacturing indicator rose to a seven-month high in June, supporting the government's claim  that the economy will avoid a hard landing as it puts stimulus measures in place to boost growth.
Jun 23, 2014 - 3:54 AM

Asia Economy
When Richard Nixon, US president, visited the Great Wall of China in 1972, he was reported to have remarked: "I think that you would have to conclude that this is a great wall." However, he was disappointed that the rest of his statement was generally ignored: "and it had to be built by a great people." Superlatives are easily used in respect of China and while it does offer opportunities in food and niche areas for Irish indigenous exporters, the armchair experts from afar can opine about getting a small piece of the market of 1.3bn, but 'It Ain't Easy' as the song says.
Jun 23, 2014 - 2:47 AM

Asia Economy
China reported a strong rise in exports in May but imports were weak raising concerns over domestic demand, suggesting that the economy remains sluggish.
Jun 9, 2014 - 8:45 AM

Asia Economy
The annual survey of the European Chamber of Commerce in China reveals a new sober reality about doing business in China and the association says that "the fact that veterans with over ten years of experience in China markedly perceive the business environment to have become tougher is particularly telling because of the longer memory time span that these companies possess. It means that these results likely reflect a more general observational trend over a number of years that business is increasingly becoming tougher."
Jun 3, 2014 - 7:26 AM

Asia Economy
China's manufacturing PM1 (purchasing managers' index) was published Tuesday and reflecting activity in the private sector, shows a dip in output for the fourth straight month. An official PMI report on manufacturing mainly reflecting activity of state-owned firms, shows a slight rise in output while a report on services issued today signalls a robust performance.
Jun 3, 2014 - 5:32 AM

Asia Economy
Japanese manufacturing firms saw a decline in output for the second month running in May alongside a continued fall in new orders and new export orders according to the latest PMI (purchasing managers' index) survey. On Friday, Japan's official industrial production data showed a fall in factory output by 2.5% in April from a month earlier after a weak 0.7% rise in March. Meanwhile consumer inflation in the deflation stricken economy hit a 23-year high in April but real wages are expected to fall this year.
Jun 2, 2014 - 9:11 AM

Asia Economy
China's manufacturing PMI (purchasing managers' index) metric of activity in May shows that the sector is moving closer to stabilisation but the current reading remained below the level of 50, which signalls contraction.
May 22, 2014 - 5:38 AM

Asia Economy
China's manufacturing and services improved slightly in April with teh the final HSBC Manufacturing Purchasing Managers' Index (PMI) for April published Monday, showing a slight rise to 48.1 from 48.0 in March, but still below the key 50 level which suggests continuing contraction in manufacturing. The official manufacturing index, which was published last week and tracks more big state companies than the HSBC measure, showed that activity strengthened slightly to 50.4 in April from 50.3 in March while the official non-manufacturing PMI, which covers services, also improved slightly in April.
May 5, 2014 - 10:38 PM

Asia Economy
The International Monetary Fund on Monday raised its economic growth forecast for China but warned that its financial system faces risks due to the rapid expansion of debt. However, the Fund's Asia director gave three reasons why a full-blown economic crisis is unlikely.
Apr 29, 2014 - 10:04 AM

Asia Economy
Japan's trade deficit rose sharply in March, quadrupling in the month as export growth slowed and energy imports continued to rise.
Apr 22, 2014 - 7:43 AM

Asia Economy
China's exports slumped for the second straight month in March according to a report Thursday and Li Keqiang, Chinese premier, speaking at the 2014 annual conference of the Boao Forum for Asia (BFA) in the coastal town of China's southernmost island province of Hainan, ruled out a stimulus program.
Apr 10, 2014 - 9:54 AM

Asia Economy
Developing countries in the East Asia Pacific region will see stable economic growth in 2014, bolstered by a recovery in high-income economies and the market’s modest response so far to the Federal Reserve’s tapering of its quantitative easing, according to the East Asia Pacific Economic Update [pdf] released Monday in Singapore by the World Bank.
Apr 7, 2014 - 5:04 AM

Asia Economy
China's manufacturing PMI (purchasing managers' index) surveys issued Tuesday show sluggish growth in March with the official survey rising slightly to 50.3 in March, compared with 50.2 in February - - 50 is the no-change level - -  while the HSBC bank survey shows the sharpest fall of output since November 2011 with the index dropping to 48.0 from 48.5.
Apr 1, 2014 - 7:28 AM

Asia Economy
Japanese manufacturing PMI shows that firms saw an expansion in output for the thirteenth consecutive month in March. Similar trends were observed for new orders, employment and purchasing activity. Meanwhile, output prices decreased marginally whilst input prices continued to increase and suppliers’ delivery times lengthened to the greatest extent since December 2011. Meanwhile official data Monday showed Japan’s industrial production fell in February, as the first sales-tax increase since 1997, that is due to take effect on Tuesday, risks stalling recovery in the world’s third-biggest economy. Bloomberg reports Monday that a separate survey of manufacturers by the trade ministry pointed to a sluggish rebound following February’s decline. Companies plan to boost production by 0.9% in March and cut it by 0.6% in April, the trade ministry said.
Mar 31, 2014 - 6:13 AM

Asia Economy
China's manufacturing dipped an eight-month low in March in another signal of slowing growth in the world's No. 2 economy.
Mar 24, 2014 - 7:19 AM

Asia Economy
Chinese Premier Li Keqiang on Thursday at a press conference in Beijing after the closing meeting of the second annual session of China's 12th National People's Congress (NPC), China's parliament, said future defaults of financial products in China are “unavoidable” but the government will take measures to ensure they do not pose a threat to the wider financial system. The premier also said that economic growth would be kept in a reasonable range in 2014.
Mar 13, 2014 - 10:12 AM

Asia Economy
Japan’s six major electronics makers, including Hitachi Ltd. and Panasonic, have agreed to raise their wage levels by ¥2,000 (€14) per month, the highest hike on record, according to the Kyodo news agency on Monday.
Mar 11, 2014 - 9:00 AM

Asia Economy
China posted a slide in exports and a $22.98bn deficit in February in a report issued on Saturday, fanning worries about the world's No. 2 economy. However, the Lunar New Year holidays in China involving a huge movement of migrant factory workers impacts activity longer than the official holiday week at the start of the month. Some workers do not return while others arrive late.
Mar 10, 2014 - 8:54 AM

Asia Economy
China has kept its economic growth target unchanged at 7.5% in 2014 according to a government work report delivered by Premier Li Keqiang at the parliament' s annual session Wednesday. The military budget is set to rise by 12.2% as Japan is warned again about uninhabited islands in the East China Sea.
Mar 5, 2014 - 8:05 AM

Asia Economy
  China's manufacturing showed more weakness in February but because the week-long Lunar Year holidays fell in the first week of the month, it wasn't a typical one. Services rose according to a new official PMI (purchasing managers' index) measure.
Mar 3, 2014 - 7:40 AM

Asia Economy
An Economist Intelligence Unit report, commissioned by State Street, and published this week examines the future development and internationalisation of China's currency -- the renminbi - - and the pace, process and likelihood of financial reform in the country. It compares the views of institutional investors headquartered in mainland China (excluding Hong Kong and Taiwan) with those based elsewhere. The report is based on a survey of 200 senior executives from institutional investors (IIs) with knowledge of their exposure to renminbi assets.
Feb 28, 2014 - 8:43 AM

Asia Economy
China's manufacturing contracted in February according to a flash purchasing managers’ index (PMI), which dropped to a seven-month low of 48.3 in February, from 49.5 the previous month. The period included the Lunar New Year shutdown.
Feb 20, 2014 - 6:40 AM

Asia Economy

China faces challenges amidst stunning transformation and in a large economy, changing the trajectory of growth after a period of blistering expansion, would never be easy.

Feb 19, 2014 - 5:48 AM

Asia Economy
In 1898, The Skibbereen Eagle, one of  two newspapers in the West Cork town of Skibbereen, won international fame when it had thundered in an editorial against Russia's Tsar Nicholas II, who had expansionist designs on the crumbling Chinese empire. The editor had ominously warned that his newspaper would be keeping an "eye" on the tsar! Finfacts has more modest pretensions this week in the Guangzhou area, in China's Guangdong province, located in the Pearl River delta industrial heartland, northwest of Hong Kong. Business is still humming but the narrative that all emerging economies, absent significant natural resources, could become miracle ones, has been dashed. It's an exception to sustain a trajectory to become a developed nation.
Feb 12, 2014 - 7:50 AM

Asia Economy
Japan's services activity eased in January while India's contracted, according to survey data published Wednesday.
Feb 5, 2014 - 8:08 AM

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