11/07/2019 10:12 | Share
The appeals court upheld a lower court decision from last year that says the president conducts government business on his personal Twitter account, so all Americans must be able to access it.
10/07/2019 16:05 | Share
Shanghai’s real estate investment market performed well in the first half of 2019 with offices the most sought-after among investors, according to the latest data released by global property consultancies.Between January and June, the overall transaction value of en-bloc real estate investment deals reached some 77.5 billion yuan (US$11.2 billion), with some 28.8 billion yuan worth of deals being sealed in the second quarter, JLL said in its regular quarterly report released yesterday.“The city’s property investment market continued its bull run from last year in the first quarter and the early part of the second quarter, though reports of trade-conflict uncertainties coupled with a softening office-leasing market are putting more investors on the sideline,” said Jim Yip, head of capital markets, JLL China & East China. “For the whole year, transaction volume might still reach a record though comparatively lower transaction volume is expected for the second half.”In the first six months, office buildings, with a total investment volume of 42 billion yuan or 54 percent of the total, were the most popular. Mixed-use developments trailed with a 36 percent share and retail followed with a 3 percent share, according to JLL data.An earlier report by international property adviser Savills showed that Shanghai’s office-leasing market remained subdued in the second quarter of this year, mainly due to oversupply and softening demand. Grade A office rents in core areas extended weakness during the three-month period, slipping 0.1 percent to 8.96 yuan per square meter per day.
10/07/2019 16:05 | Share
China’s auto sales fell 9.6 percent from a year earlier to 2.06 million vehicles in June, the 12th straight monthly decline, according to data released by the China Association of Automobile Manufacturers yesterday.The association said sales and production in the country’s automobile market in the first six months was below what had been expected at the start of the year. It also said China’s auto sales are expected to decline for the whole year and it urged government policies to promote consumption to be implemented as soon as possible.Overall auto sales declined 12.4 percent to 12.32 million vehicles in the first half of the year compared with the same period last year, the data showed. But June’s auto sales rebound, up 7.5 percent compared with May.In January, the association forecast that 2019 sales would be flat at around 28 million. China’s auto market fell 2.8 percent in 2018 from a year earlier to 28.1 million units.“Market sentiment has not been improved despite sales promotions for some car models. Consumers took a wait-and-see stance when buying vehicles,” the association said. Industry insiders also attributed the sales decline to reasons including macro-economic factors and increased housing costs leaving less money to spend on cars.Industry analysts earlier estimated that sales in June would be relatively good, driven by sales promotions. Some dealers had promotions to clear out models built with China V emission standards as some regions adopted the stricter China VI standards from July. In addition, some dealers offered promotions in June as they wanted to perform well in the half-year assessment.However, the association’s data showed that overall auto sales continued to decline in June.Cui Dongshu, secretary-general of the China Passenger Car Association, said that “after a difficult situation in the first half of this year, carmakers need to adjust their annual sales target. Some manufacturers made promotions in May and June, which leads to a front-loading effect for car sales in the second half.”Cui said that consumers still hesitate when buying vehicles and car dealers are making adjustments in July. From August, the automobile market will see an improvement, Cui added.Lin Huaibin, manager of China Light Vehicle Sales Forecast with IHS Markit, said: “Monthly sales volume in June seems to be improving while dealer inventory is also declining. Market could trough out from July onward given the lower sales base in the second half of 2018. “Trade truce could also provide tailwind although we would still remain cautious as uncertainty may unsettle growth unexpectedly in the short term.”
10/07/2019 16:05 | Share
THE Trump administration will exempt 110 Chinese products, from medical equipment to key capacitors, from hefty tariffs, offering relief to some US firms which have said the taxes harm their bottom lines.
The relatively narrow exemption list will provide relief from 25 percent tariffs the United States slapped on US$34 billion of Chinese imports on July 6, 2018, one of the first salvos in a bilateral trade battle that has roiled global supply chains and cost billions.
The retroactive exclusions are effective as of that date, and extend for a year from Tuesday.
The waivers by the US Trade Representatives’ office follow another 1,000 exemptions granted in the past year.
The United States has levied tariffs on US$250 billion worth of Chinese imports and has threatened to slap taxes on another US$300 billion.
The threat was suspended after a late June meeting between US President Donald Trump and his Chinese counterpart, Xi Jinping, in which they agreed to resume negotiations.
USTR has exempted a component in a Medtronic Plc device used to treat liver tumors, one of 12 exclusion requests granted to the world’s largest medical device maker.
The company argued that the R&D-heavy components were not produced in China.
Palo Alto Networks Inc, a cybersecurity firm, also received a waiver for one of the electronic components it imports from China, a tantalum capacitor used to control electrical flow in its network firewall equipment.
Varian Medical Systems was also granted an exclusion for some of its radiotherapy equipment after arguing that the tariffs would only hurt them as no other good alternatives are available.
Tesla Inc was denied exemptions for some Chinese-made circuitry for its vehicles.