The Chinese manufacturing sector registered its worst performance in the past 78 months. The measure of sentiment among purchasing managers, Preliminary Caixin China manufacturing index (PMI) dropped to 47 in September from 47.3 in August.
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China sees 10,000 start-ups a day amid government support
There's good news in a form of startups for China, which is reeling under the pressure of the slowdown in the economy. Giving much breath to China, over 10,000 startup firms are to take off every day. The majority are small enterprises.
IFC sees Panda bond market exceeding $50B by 2020
The Panda bond market in China is expected to surpass $50-billion mark in next five years. International Finance Corporation (IFC) is planning to sell bonds in Yuan-denominated from this year onwards.
Will China impose a punitive tax on forex trades?
At a time when, Chinese currency Yuan seems to be stabilizing in the foreign exchange (forex) market, the indications from the government about imposing a Tobin tax, a punitive levy, on forex transactions aimed at reducing trading in currency. After the unexpected devaluation of Yuan by 1.9 percent on 11 August, the Chinese currency fell further and recently started coming back into stabilization mode.At a time when, Chinese currency Yuan seems to be stabilizing in the foreign exchange (forex) market, the indications from the government about imposing a Tobin tax, a punitive levy, on forex transactions aimed at reducing trading in currency. After the unexpected devaluation of Yuan by 1.9 percent on 11 August, the Chinese currency fell further and recently started coming back into stabilization mode.
Lack of clarity over US data put pressure on Asian stocks
The lack of clarity about the US data and timing of interest rate hike have put further pressure on Asian stock markets. Several Asian stocks slipped into pressure on Friday trading ahead of the US data jobs report. Japan's Nikkei fell 1.7 percent for the week. The long holiday stretch for Chinese markets also resulted in sluggishness in the Asian market.
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China e-commerce industry is worth $2.1 trillion in 2014 with the number of users growing by 31.4 percent as reported by China E-Commerce Research Center (CERC). Out of the total amount, $450 billion comes from the online retail business alone. Current market players in the e-commerce are Alibaba, JD.com, and Suning Commerce.
The china's economy slowdown is likely to continue for next three years, predict real-estate developers. The robust growth has led cities to emerge as major infrastructure built up ones. There's opportunity in smaller cities though they can't offer the kind of growth witnessed in cities like Beijing and Shanghai.
The Shanghai Gold Exchange (SGE) has allowed using physical gold and other securities as collateral on futures contracts trading. The move is aimed at increasing volumes and attracting investors from other markets.
China faces risks of deflation, as manufacturers' selling prices fall for the 42nd consecutive month in August. The Producer Price Index (PPI) shed 5.9% from a year earlier, much worse than market expectations of a 5.5% decline.
After gaining for a while on government's intervention, offshore Yuan fell for three sessions in a row. The Chinese government seems to be moving back from supporting the weakening currency Yuan and restricting capital outflow.
The growth rate of China's economy for 2014 has revised marginally lower to 7.3 percent from previous forecast of 7.4 percent. The drop in services sector weighed more on gross domestic product (GDP). According to the latest data from National Bureau of Statistics (NBS), the GDP stood at 63.6 trillion Yuan ($10 trillion) in 2013 and this was 32.4 percent lower than earlier projection. The latest data casts shadow over the Chinese government's target of seven percent for 2015.
Several measures gauging the manufacturing industry activity are showing discouraging results. The latest manufacturing gauging index slipped below 50, which indicates the deceleration in the manufacturing industry, falling to 49.7 in August.
A group of wealthy internet entrepreneurs and investors in China are putting their money on NextEV, a rival to U.S. electric car manufacturer Tesla Motors Inc.
Alibaba Pictures Group announced Friday that it lost 151.8 million Yuan ($24 million) in the first half of 2015. The loss is due to the transformation the company is undergoing. According to the company, most of its projects are still under the investment stage, and its profit is not yet included in the revenue report of the period.
