As China’s economy matures, the leaders are trying to move manufacturing up the value chain with the Made in China 2025 plan.
Early indications show that the Chinese government’s efforts to prop up the economy might be able to steer clear of the risks of the 2009 economic stimulus
This week, trading on the Shanghai Stock Exchange exceeded RMB 1 trillion causing a major software glitch; China’s factory activity slowed (again); and Visa and MasterCard finally got a level playing field.
The first quarter Chinese GDP growth may fall below the 7% target and the US has softened its stance on the Asian Infrastructure Investment Bank.
This week, the China-backed Asian Infrastructure Investment Bank initiative won more support; fluctuations in the value of the RMB caused concerns; and Tencent revealed its smart-car ambitions.
This week, China’s central bank finally bit the bullet and cut the required reserve ratio by 50 basis points; and the manufacturing purchasing managers’ index hit a new low
This week, the BYD stock price fell sharply, as did Geely’s; Baidu invested in ride-sharing company Uber; and China’s factory activity slowed further.
This week, smartphone manufacturer Xiaomi made new moves in the wearable technology space; Tencent signed a deal to boost its K-pop quotient; and NDRC placed its bets on a new plan to clean China’s smoggy skies.
This week, we saw the debut of Alibaba’s bonds, the new China-Australia FTA, and China’s factory output shrank thanks to the APEC conference.
This week, the HSBC PMI showed an uptick in China’s manufacturing activity; news of the possibility of an RMB clearing house in Toronto made waves; and Alibaba posted strong second quarter results.