china Archive

  • Electric car maker Tesla Inc. said on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year. China levies a 25 percent duty on sales of imported vehicles and has not allowed foreign automakers to establish wholly owned factories in the country, the world's largest auto market. Those are problems for Tesla, which wants to expand its presence in China's growing electric vehicle market without compromising its independence or intellectual property. China's government has considered allowing foreign automakers to set up wholly owned factories in free trade zones in part to encourage more production of electric and hybrid vehicles -- which the government calls "new energy vehicles" -- to meet ambitious sales quotas. Tesla would still have to pay a 25 percent duty on cars built in a free trade zone, but it could lower its production costs. “Tesla is working with the Shanghai Munic..

    Tesla moves closer to deal to build cars in China

    Electric car maker Tesla Inc. said on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year. China levies a 25 percent duty on sales of imported vehicles and has not allowed foreign automakers to establish wholly owned factories in the country, the world's largest auto market. Those are problems for Tesla, which wants to expand its presence in China's growing electric vehicle market without compromising its independence or intellectual property. China's government has considered allowing foreign automakers to set up wholly owned factories in free trade zones in part to encourage more production of electric and hybrid vehicles -- which the government calls "new energy vehicles" -- to meet ambitious sales quotas. Tesla would still have to pay a 25 percent duty on cars built in a free trade zone, but it could lower its production costs. “Tesla is working with the Shanghai Munic..
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  • So says China's NDRC head at the Communist Party Congress 21 Oct - striving for GDP over 6.5% this year - will stick to steel capacity cut mission this year Optimistic tones out of China given recent upbeat data. Economists believe China's actual growth should easily beat the target. The economy grew 6.8% Q3 and 6.9% in H1.Last year's growth

    China expects to meet 2017 GDP target of 6.5%

    So says China's NDRC head at the Communist Party Congress 21 Oct - striving for GDP over 6.5% this year - will stick to steel capacity cut mission this year Optimistic tones out of China given recent upbeat data. Economists believe China's actual growth should easily beat the target. The economy grew 6.8% Q3 and 6.9% in H1.Last year's growth
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  • Hundreds of workers streamed through dark streets, blocking an entrance to an Apple iPhone supplier's factory in eastern China to protest unpaid bonuses and factory reassignments, two witnesses and a US nonprofit group said Thursday.Jabil, which runs the Green Point factory in Wuxi city, maintains that only 20 to 40 employees were actually protesting and the rest were night-shift workers trying to enter the factory, but vowed to take corrective action over the wage dispute."As long as they can present evidence of promises by brokers we will help them to get paid," said a spokeswoman for US-based Jabil, Lydia Huang.Jabil, in a statement late Thursday, said it was "committed to ensuring every employee is paid fairly and on time."Apple told the New York-based China Labor Watch that it was investigating and pledged to ensure that workers got fair compensation. "We are requiring Jabil to send a comprehensive employee survey to ascertain where gaps exist in payment and they must cre..

    Workers at iPhone Supplier in China Protest Unpaid Bonuses

    Hundreds of workers streamed through dark streets, blocking an entrance to an Apple iPhone supplier's factory in eastern China to protest unpaid bonuses and factory reassignments, two witnesses and a US nonprofit group said Thursday.Jabil, which runs the Green Point factory in Wuxi city, maintains that only 20 to 40 employees were actually protesting and the rest were night-shift workers trying to enter the factory, but vowed to take corrective action over the wage dispute."As long as they can present evidence of promises by brokers we will help them to get paid," said a spokeswoman for US-based Jabil, Lydia Huang.Jabil, in a statement late Thursday, said it was "committed to ensuring every employee is paid fairly and on time."Apple told the New York-based China Labor Watch that it was investigating and pledged to ensure that workers got fair compensation. "We are requiring Jabil to send a comprehensive employee survey to ascertain where gaps exist in payment and they must cre..
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  • China Posted Relatively Strong Economic Growth in the Third Quarter China reported relatively upbeat economic expansion in the third quarter, propelled by a stronger service industry, though there were indications of weakness in real estate and construction, data showed. According to the National Bureau of Statistics, China's property sector was up 3.9 percent in the quarter from 2016, slowing from 6.2 percent in the second quarter and the softest clip in almost two years. China's third-quarter expansion eased only marginally to 6.8 percent from 6.9 percent in the quarter earlier. Growth in construction activity deccelerated from 5.4 percent in the second quarter to four percent, the lowest growth since the fourth quarter of 2000, the NBS data showed. Property and construction account for 13.3 percent of the economy, while property in itself directly affects 40 other industries. Property sales fell for the first time in over 2-½ years in September and housing starts s..

    Prime News: China Posted Relatively Strong Economic Growth in the Third Quarter

    China Posted Relatively Strong Economic Growth in the Third Quarter China reported relatively upbeat economic expansion in the third quarter, propelled by a stronger service industry, though there were indications of weakness in real estate and construction, data showed. According to the National Bureau of Statistics, China's property sector was up 3.9 percent in the quarter from 2016, slowing from 6.2 percent in the second quarter and the softest clip in almost two years. China's third-quarter expansion eased only marginally to 6.8 percent from 6.9 percent in the quarter earlier. Growth in construction activity deccelerated from 5.4 percent in the second quarter to four percent, the lowest growth since the fourth quarter of 2000, the NBS data showed. Property and construction account for 13.3 percent of the economy, while property in itself directly affects 40 other industries. Property sales fell for the first time in over 2-½ years in September and housing starts s..
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  • UBS economists comments on China economic growth and the CNY - Sees Q3 GDP to slow to 6.6% - 2017 GDP at 6.8% - GDP to slow further in 2018 - Sees no change to interest rates in months ahead (Headlines via Bloomberg)

    UBS expect China GDP to slow, yuan around 6.6

    UBS economists comments on China economic growth and the CNY - Sees Q3 GDP to slow to 6.6% - 2017 GDP at 6.8% - GDP to slow further in 2018 - Sees no change to interest rates in months ahead (Headlines via Bloomberg)
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  • BRAZIL: Ibovespa Falls 0.4% On Lower Growth In China Ibovespa, the benchmark stock index in Brazil, closed down 0.4% Thursday at 76,283.16 points, tracking the path of emerging markets after China reported that its Gross Domestic Product (GDP) grew 6.9% in the third quarter, at a slower pace than the expected by investors. The Chinese figures negatively impacted on commodities prices. But contrary to the more than 3% fall in iron ore, Vale's shares rose 2.26%, limiting Ibovespa's deceleration, after reported its production data for the third quarter, which had a record high. "Despite the price of the iron ore closing down, Vale had a record production in the quarter, creating an expectation of good financial results for the period," said Vitor Suzaki, an analyst at Lerosa Investimentos. According to ?lvaro Bandeira, the chief economist at Homebroker Modalmais, the Chinese question was the primary factor that soured the mood in the Brazilian market Thursday. "The da..

    BRAZIL: Ibovespa Falls 0.4% On Lower Growth In China

    BRAZIL: Ibovespa Falls 0.4% On Lower Growth In China Ibovespa, the benchmark stock index in Brazil, closed down 0.4% Thursday at 76,283.16 points, tracking the path of emerging markets after China reported that its Gross Domestic Product (GDP) grew 6.9% in the third quarter, at a slower pace than the expected by investors. The Chinese figures negatively impacted on commodities prices. But contrary to the more than 3% fall in iron ore, Vale's shares rose 2.26%, limiting Ibovespa's deceleration, after reported its production data for the third quarter, which had a record high. "Despite the price of the iron ore closing down, Vale had a record production in the quarter, creating an expectation of good financial results for the period," said Vitor Suzaki, an analyst at Lerosa Investimentos. According to ?lvaro Bandeira, the chief economist at Homebroker Modalmais, the Chinese question was the primary factor that soured the mood in the Brazilian market Thursday. "The da..
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  • Data out from FX regulator SAFE a short while ago 19 Oct - Jan-Sept net sell of USD 112.9bln For commercial bank activity read PBOC intervention activity. Say SAFE:

    China commercial bank net Sept purchases USD 0.3bln vs net sell of 3.8bln prev

    Data out from FX regulator SAFE a short while ago 19 Oct - Jan-Sept net sell of USD 112.9bln For commercial bank activity read PBOC intervention activity. Say SAFE:
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  • China's Q3 GDP Expands As Expected China's economy expanded as expected in the third quarter but the pace of growth slowed marginally largely due to measures taken by the government to contain debt risks. Gross domestic product grew 6.8 percent year-on-year in the third quarter, the National Bureau of Statistics reported Thursday. Although the growth rate was slightly slower than the 6.9 percent logged in the second quarter, it remained well above the government's full year target of about 6.5 percent. Nonetheless, a less supportive fiscal policy stance and slower credit growth should result in a slowdown over the coming months, Julian Evans-Pritchard, an economist at Capital Economics, said. China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development, President Xi Jinping said at the opening of the communist party congress on Wednesday. Over the weekend, People's Bank of China Governor Zhou Xiaoch..

    China's Q3 GDP Expands As Expected

    China's Q3 GDP Expands As Expected China's economy expanded as expected in the third quarter but the pace of growth slowed marginally largely due to measures taken by the government to contain debt risks. Gross domestic product grew 6.8 percent year-on-year in the third quarter, the National Bureau of Statistics reported Thursday. Although the growth rate was slightly slower than the 6.9 percent logged in the second quarter, it remained well above the government's full year target of about 6.5 percent. Nonetheless, a less supportive fiscal policy stance and slower credit growth should result in a slowdown over the coming months, Julian Evans-Pritchard, an economist at Capital Economics, said. China's economy has been transitioning from a phase of rapid growth to a stage of high-quality development, President Xi Jinping said at the opening of the communist party congress on Wednesday. Over the weekend, People's Bank of China Governor Zhou Xiaoch..
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  • Forex news for Asia trading Thursday 19 October 2017 The big focus in Asia today was on Chinese data - Q3 GDP - And September activity data Add to that list

    ForexLive Asia FX news wrap: Strong data from Australia and China

    Forex news for Asia trading Thursday 19 October 2017 The big focus in Asia today was on Chinese data - Q3 GDP - And September activity data Add to that list
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  • National Bureau of Statistics spokesman Xing Zhihong news conference comments: - Says China's property risks have been effectively resolved - Destocking efforts in third- and fourth-tier cities achieving results -

    China Stats bureaus says property risks have effectively been resolved

    National Bureau of Statistics spokesman Xing Zhihong news conference comments: - Says China's property risks have been effectively resolved - Destocking efforts in third- and fourth-tier cities achieving results -
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