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HONG KONG Business conditions for Chinese manufacturers continued to improve in December, with HSBC’s initial Purchasing Managers’ Index rising to a 14-month high of 50.9, according to the survey results released Friday. The reading compares with HSBC’s final PMI print of 50.5 for November. A reading above 50 signals an improvement in activity. HSBC’s initial or “flash” PMI reading is based on responses from 85% to 90% of the total respondents in the monthly survey. Hongbin Qu, HSBC’s chief economist for China, said the improvement in the latest survey results confirmed that China’s “ongoing growth recovery is gaining momentum, mainly [...]

SHANGHAI The China release of its iPhone 5 on Friday should win Apple Inc some respite from a recent slide in its share of what is likely already the world’s biggest smartphone market, but its longer-term hopes may depend on new technology being tested by China’s top telecoms carrier. Cupertino, California-based Apple has been in talks about a tie-up with China Mobile for four years. A deal with China’s biggest carrier is seen as crucial to improve Apple’s distribution in a market of 290 million users – which is forecast to double this year. China is Apple’s second-largest and fastest-growing [...]

SHANGHAI The China release of its iPhone 5 on Friday should win Apple Inc some respite from a recent slide in its share of what is likely already the world’s biggest smartphone market, but its longer-term hopes may depend on new technology being tested by China’s top telecoms carrier. Cupertino, California-based Apple has been in talks about a tie-up with China Mobile for four years. A deal with China’s biggest carrier is seen as crucial to improve Apple’s distribution in a market of 290 million users – which is forecast to double this year. China is Apple’s second-largest and fastest-growing [...]

Xi stokes China reform hopes

Chinese jobs return to UKDuring a stop in Shenzhen on Saturday Mr Xi laid a basket of flowers in front of a statue of Deng in a local park. Mr Xi said he had gone there to “revere” the statue and push “new breakthroughs and new steps in boosting reform,” according to a state media account.”Shenzhen is synonymous with economic reform,” said Willy Lam, professor of history at the Chinese University of Hong Kong. “His message to the outside world is ‘I am the heir to Deng, I am not a conservative’.”Shenzhen is also where Mr Xi’s father, a famous [...]

By 2030 China will blow past America as the world’s largest economy and global power will shift decidedly in favor of Asia, a new report from the U.S. intelligence community forecasted on Monday. The prediction comes as the U.S. and Europe struggle to recover from the Great Recession but some emerging economies continue to grow at a far healthier pace. The National Intelligence Council’s Global Trends report concluded that by 2030 Asia will surpass North America and Europe combined in terms of global power, based on gross domestic product growth, population size, military spending and technological investment. Further, the report [...]

Treasury Under Secretary for International Affairs Lael Brainard is in Beijing for two days of economic talks with senior Chinese government officials, the department announced on Monday. Brainard will discuss “ways to expand opportunities for U.S. workers and businesses through a more level playing field,” the statement said. She will also discuss the global economy and China’s efforts to boost its consumer sector. Late last month, Treasury again declined to name China a currency manipulator, citing progress in the emerging nation’s currency appreciation.

BEIJING China’s exports growth slowed sharply to a much lower than expected 2.9 percent in November, a customs report said on Monday, underscoring the global headwinds dragging on an economy showing otherwise solid signs of a pick up in domestic activity. Data at the weekend showed both industrial output and retail sales rose in November at their fastest annual pace in eight months, reinforcing the view that growth in the world’s second-biggest economy is finally picking up after a long slide. However, weak exports will drag on the revival in the Chinese economy as its major buyers struggle; Europe and [...]

BEIJING Growth in China’s factory output and retail sales jumped to eight-month highs in November as consumer inflation bounced off 33-month lows in the latest sign that its economy is snapping out of a protracted slump. Analysts said Sunday’s data showed China is enjoying an enviable mix of benign inflation and rebounding economic growth that allows Beijing to stand still on monetary and fiscal policies, or switch to an easier stance if needed. “The Chinese economy is now in a sweet spot and can stay in the sweet spot through the first half of 2013,” said Ting Lu, an economist [...]

BEIJING China’s annual consumer inflation sped to 2 percent in November from 33-month lows, data showed on Sunday, dampening the chance for further policy easing as the economy recovers. Economists polled by Reuters had forecast November inflation to climb to five-month highs of 2.1 percent, compared with October’s 1.7 percent. The National Bureau of Statistics said in the same release China’s producer price index dropped 2.2 percent in November from a year ago, narrowing from October’s 2.8 percent annual fall but sharper than forecasts for a 2 percent decline. A recovery in factory-gate prices bodes well for China’s corporate sector, [...]

BEIJING China’s annual consumer inflation rebounded from 33-month lows to 2 percent in November, dimming the chance for more monetary policy easing as its economy recovers. Sunday’s data missed analysts’ expectations for November inflation to quicken to five-month highs of 2.1 percent from October’s 1.7 percent. Food was the key driver of consumer prices last month, with vegetable prices jumping 11.3 percent. “We expect consumer inflation to not see a big rebound until the first quarter of next year,” said Jiang Chao, an analyst at Guotai Junan Securities in Shanghai. “Therefore, the central bank may stick to its current policy [...]

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