Economic slowdown

'Too big' ICBC announces slowdown in growth

ICBC, the world's biggest lender by market value, said yesterday that 2012 earnings rose 14.5pc, beating analyst estimates. Photo: Reuters

ICBC, the world's largest bank by market value and assets, plans to slow down asset expansion this year and tolerate a higher bad-loan ratio, underscoring the pressure from stricter capital rules and the anticipation of an economic slowdown.

Thursday, 28 March, 2013, 5:52am

FDI extends fall in China

The mainland's exports and imports in January showed a combined increase of 26.7 per cent from a year earlier. Photo: Reuters

Investment coming into the mainland dropped 7.3 per cent last month to US$9.27 billion from a year earlier, dragged down by a 14 per cent decline in property investment, the Ministry of Commerce said yesterday. FDI fell 3.7 per cent last year.

21 Feb 2013 - 6:07am

China loses shine for foreign money

Chinese Minister of Commerce Chen Deming reassures the business community that the government will improve the investment environment. Photo: Xinhua

China's attractiveness to foreign investors waned last year for the first time since the global financial turmoil as the world's economy slumped and labour costs rose.

17 Jan 2013 - 2:40am

Economic downturn forces state firms to cut executive wages

Beijing will tightly check wages of executives at state firms.

State-owned enterprises are set to cut salaries of senior executives to sustain growth amid rising operating costs and an unfavourable economic environment.

The State-owned Assets Supervision and Administration Commission said in a statement on Thursday state firms were required to step up efforts to reduce costs and improve efficiency.

12 Jan 2013 - 4:02am

Growth in wealthy inland households to outpace downturn-hit coastal cities

Mainland investors have become less keen on stocks this year.

The number of wealthy households in the mainland's inland region are set to grow faster than in the rich cities and coastal provinces where the economic slowdown has hit harder, a study has shown.

8 May 2015 - 9:46am

Central government's key economic conference to put focus on reform

Xi Jinping stressed the need for systemic reform. Photo: AP

The central government's key annual economic planning conference began with a call for deeper reform, even as economists warned that any meaningful changes would mean slower short-term growth.

8 May 2015 - 9:46am 2 comments

Airfreight operators hit by economic slowdown

Cargolux is reviewing its business options. Photo: SCMP

Dedicated airfreight operators are struggling to remain viable as a sluggish economy undermines their ability to compete with the cargo space on offer from carriers focused on the more buoyant passenger market.

15 Dec 2012 - 3:12am

BNP Paribas plans to increase its stake in Bank of Nanjing to as much as 20pc

BNP Paribas is to grow its stake in Bank of Nanjing.Photo: Bloomberg

BNP Paribas, France's biggest lender, plans to increase its stake in Bank of Nanjing to as much as 20 per cent as Chinese lenders' profits defy the global economic slowdown and rise to a record.

14 Dec 2012 - 3:00am

Liquor firm Silver Base in the spotlight after chairman's share sales

Silver Base chairman Liang Guoxing has gradually reduced his stake in the company from 64.6 per cent to 52.67 per cent. Photo: Sam Tsang

Liang Guoxing, chairman of Silver Base Group Holdings, has left more questions than answers about the poor performance of one of the mainland's largest distributors of Chinese liquor.

8 May 2015 - 9:46am

China spending to cushion slowdown

Jim O'Neill believes a pickup in a series of leading indicators is signalling a soft landing for the mainland economy. Photo: K.Y. Cheng

The mainland's economy has shown resilience and undergone a gradual transition towards being driven by domestic consumption, says Goldman Sachs economist Jim O'Neill.

8 May 2015 - 9:48am

Bad loans are staying at an 'excellent range'

Non-performing loans have stayed below 1 per cent with some normal volatility, says Bank of China's Li Lihui. Photo: KY Cheng

The mainland's leading state-owned lenders expect non-performing loans to remain steady in the fourth quarter as the economy stabilises.

8 May 2015 - 9:46am

Record high sales lift Lenovo to global PC summit

Chief financial officer Wong Wai-ming said the company had consistently improved its profitability.

Lenovo, which posted a 13 per cent net profit rise on record sales for the past quarter, forecasts strong demand for its personal computers and smartphones to continue defying the global economic slowdown.

9 Nov 2012 - 4:40am

Post-congress leaders likely to shun stimulus in favour of lower growth

Tiananmen Square is spruced up for the congress. Photo: AFP

To buy or not to buy? This is a question home-buyers often ask themselves - particularly so on the mainland, where abrupt policy changes make timing crucial for investment success.

8 May 2015 - 9:46am

Beijing curbs bond issues on default fears

The mainland's bond regulator has stopped approving debt sales by governments below provincial level, underscoring concerns of defaults arising from a flood of bond issues by local government financing vehicles this year.

7 Nov 2012 - 3:36am

Chinese companies prepare for improving consumer sentiment

Toy manufacturers are among the mainland companies reporting that business is much better than six months ago. Photo: Xinhua

Months before China closes the lid on the Year of the Dragon, Guangzhou Aoking Leather is ramping up luggage production, adding to signs that the slowdown in the world's second-largest economy is poised to ease.

8 May 2015 - 9:46am