Home-price growth continued to slow last month as signs that China’s property sector is losing momentum pile up, Caixin reports. Prices for new homes remained unchanged in China’s top-tier cities such as Beijing and Shanghai, and grew 0.2% for existing homes, according to the National Bureau of Statistics. Growth in second-tier cities also declined from […]
Category: Brief
US Trade Representative Robert Lighthizer has denied a Financial Times report claiming that he told a group of executives that the administration plans to put further China tariffs on hold, CNBC reports. Shares in Caterpillar, the machinery firm with large exposure in China, jumped more than 4% following the FT story, but later the same day Lighthizer’s office issued a firm […]
China’s commerce ministry will support private firms looking to invest in international markets, the South China Morning Post reports. The move suggests that the government is softening its stance on outbound investment after forcing several high-profile firms to rein in overseas spending. “We will guide private businesses to venture abroad in an orderly manner and to […]
Rising e-commerce platform Pinduoduo, which gained a $33 billion valuation after its debut earlier this year, has been accused of fixing financial reports, according to a report by a US activist fund. The Tencent-backed company, which has faced previous scandals involving the listing of counterfeit goods on its website, was called out in a 42-page […]
China’s growing taste for luxury goods is forecast to constitute half of the global market by the year 2025, according to a recent report by management consultancy Bain. Worries have been cast over how China’s luxury industry will fare in the face of a US trade war and slowing demand in the world’s second largest […]