The top bosses from Goldman Sachs Group Inc. and Morgan Stanley called for greater transparency from China and for eased movement of capital to restore the appetite of global investors. While acknowledging there were some “green shoots” now being seen in the Chinese economy, Morgan Stanley Chief Executive Officer Ted Pick said there was still…
China’s economy showed encouraging signs as retail sales grew at the strongest pace in eight months, indicating Beijing’s latest round of stimulus has boosted some key sectors. Retail sales increased 4.8% in October from a year earlier, the National Bureau of Statistics said Friday, up from September’s gain of 3.2%. The reading exceeded the most…
By Samuel Shen and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – Investors hoping China would announce extra fiscal buffers for an economy girding for another Donald Trump presidency were disappointed on Friday. China’s top legislative body, the standing committee of the National People’s Congress (NPC), did as was expected, approving bills to allow local governments to allocate…
Hong Kong banks’ unexpected prime rate cut on Friday will lower funding costs and bring more buyers into the market, with analysts expecting home prices in the city to bottom out “in the short term”. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, lowered its base interest rate for the second…
Apple’s sales in Greater China fell by less than 1 per cent in last quarter, a mark of continuing decline for the US tech giant in one of its most important markets, as it tries to woo mainland officials while warding off growing competition. The iPhone maker’s sales in the market – which includes mainland…
Hong Kong’s office market is likely to trail other segments in terms of recovery as interest-rate cuts and easier mortgage financing rules drive bigger interest and deals in the residential and retail properties, analysts said. Office vacancy rates continued to worsen last month in more business districts in the city including Central, Wan Chai, Causeway…
By Casey Hall and Laurie Chen SHANGHAI/BEIJING (Reuters) – China is quietly easing regulatory pressure on private tutoring operators as it looks to revive a flagging economy, spurring a nascent revival of a sector hit hard by a government crackdown three years ago, according to industry figures, analysts and data reviewed by Reuters. There has…
(Reuters) – U.S.-based consulting firm McKinsey is revamping its China business after reducing its government-linked clients and cutting about 500 jobs, which is around a third of its China workforce, the Wall Street Journal reported on Wednesday. The company has been separating the China unit from its global operations to reduce security risks with doing…
(Bloomberg) — China promised new measures to support the property sector and hinted at greater government borrowing to shore up the economy, as authorities seek to put a floor under the country’s growth slowdown. Most Read from Bloomberg Local governments will be allowed to use special bonds to buy unsold homes, Finance Minister Lan Fo’an…
Hong Kong technology venture-capital (VC) firm MindWorks Capital has finalised a new US dollar fund to invest in start-ups across the Greater Bay Area and Asia, defying an extended slump for China-focused private investments amid geopolitical headwinds. MindWorks closed a US$220 million new fund, with investors including sovereign wealth funds, a university endowment, asset managers,…