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Gary Ng

(吳卓殷)

Gary Ng
吳卓殷
Gary Ng is a Senior Economist for Asia Pacific at Natixis Corporate and Investment Bank, a role he has held since 2015. He specialises in macroeconomic and thematic research, analysing trends across the Asia Pacific region, including international trade, supply chains, and government policies.
US President Donald Trump says his administration’s tariffs on other countries will help fund his proposed increase in defence spending. Photo: Getty Images via AFP
US-China relations

Trump wants US$1.5 trillion for military. Will China boost spending too?

Analysts say Donald Trump’s military budget proposal aims to blunt China’s influence, but some dismiss the spending plan as ‘fanciful’.

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China trade

China’s diplomatic divide: red carpet for Seoul, cold shoulder for Tokyo firms

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US-China relations

TikTok seals US deal but core algorithm could still rattle ties with China

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Semiconductors

China eyes mastery of EUV lithography, bolstering AI chip ambitions: analysts

‘As the semiconductor dream has become a national security issue, I would not underestimate China’s ambition,’ Natixis analyst Gary Ng says.

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Chinese scientists at a high-security Shenzhen laboratory earlier this year built a prototype extreme ultraviolet lithography machine. Photo: Shutterstock
China travel

Why South Korea is becoming China’s new bargain travel hotspot amid Japan spat

A slump in the won is making South Korea increasingly affordable for mainland tourists just as China warns against travel to Japan.

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Banking & finance

Will Russia’s gold sale prompt a retreat? Hedge fund manager spurs debate

While a Chinese hedge fund manager has claimed gold’s ‘best days’ are over, analysts argue Moscow’s move does not reflect the overall picture.

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China-EU relations

‘Compliance maze’: EU scrutiny of Huawei, ZTE, Shein ups stakes for China firms

Firms operaing in EU may face regulatory costs, political risk, supply-chain exposure, analysts say, as contingency plans may be in works.

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French police walk past a Shein advertisement on November 5 in Paris. Photo: Reuters
US-China tech war

Dutch seizure of Nexperia faces uncertainty after Xi-Trump summit

Beijing says Washington will pause its updated export measures, which prompted The Hague to take control of the chipmaker.

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US-China trade war

With US-China tensions back on the upswing, is the TikTok deal at risk?

Analyst opinion mixed on viability of deal for Chinese short video app’s US ownership, with ‘everything on the table’ after recent flare-ups.

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US-China relations

US government frozen after shutdown, but China talks still in motion: analysts

This week’s shutdown would be unlikely to stall China trade talks, observers said, but could speed up Federal Reserve’s interest rate cuts.

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A US government shutdown this week, while immediately consequential for the domestic economy, will have limited impact on China, analysts said. Photo: Reuters
Hong Kong economy

Fed rate cut boosts Hong Kong chief’s economy push

Lower interest rates may draw investors to Hong Kong stocks and property, as chief executive works to revive the city’s economy and its status as a global financial centre.

Hong Kong skyline. (Photo: SCMP)
China inflation

Chinese consumer prices slip back into decline amid deflationary pressures

Weak domestic demand and industrial oversupply continue to weigh on prices as CPI falls 0.4 per cent in August.

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US-China tech war

China Future Tech webinar: China makes steady progress in chip self-sufficiency

A discussion on China’s progress in chip self-reliance and what it means for the world.

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Yuan

China’s yuan could strengthen to 7 per US dollar as Fed sends dovish signals

The Chinese currency is already rising against the US dollar and will receive another boost if the Federal Reserve cuts interest rates.

The Chinese yuan may strengthen to 7.0 against the US dollar by the end of the year, according to a Goldman Sachs forecast. Photo: AFP
Bonds

Chinese bonds find fast favour in Hong Kong short-term borrowing

Banks, securities firms and hedge funds complete their first trades under the offshore Bond Connect repo mechanism.

The headquarters of HSBC and Standard Chartered Bank in Central, Hong Kong, pictured on February 4, 2025. Photo: Sam Tsang
Yuan

China’s yuan fixing rate hits 9-month high after dovish pivot by US Fed chair

Move by China’s central bank comes after Jerome Powell opened the door to an interest rate cut next month.

Banking & finance

Did Trump get his ‘Big Beautiful Bill’ at the US dollar’s expense?

Analysts say the sweeping budget act resolves the immediate debt crisis, but the resultant deficit could accelerate global de-dollarisation.

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US-China relations

By toy or tea, some China retailers still see US as path to profit

More offline mainland brands are placing big bets on American consumers despite bilateral tensions and weak investor sentiment.

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Illustration: Henry Wong
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