equipment
chinese machinary      chinese equipment      
Main page | News | Guestbook | Contact us
Русская версия

Products:
Mini-factories
Transport
Equipment
Instruments
Food products
Building materials
Leisure and garden inventory
Medicine and public health
Gas and gas equipment
Oil equipment
Chinese Silk
Underwear, T-shirts
Fashion
Various production line by Customers order
Silver coins
Safety
ABOUT US

Contact us
Tel: +86 13945101993
Email: mega@asia-business.biz

News from China
Sinopec to sell oil assets in Argentina
10th October 2017

 ADVISERS to China’s Sinopec have offered its oil assets in Argentina to about a dozen potential suitors, three sources familiar with the matter said, as losses and labor headaches prompt Asia’s largest refiner to pull out.

 
The Argentine oil and gas assets, mainly in the southern province of Santa Cruz, could be worth US$750 million to US$1 billion, one of the sources said.
 
That would be less than half the US$2.45 billion Sinopec paid in 2010 to buy the Argentine assets from US-based Occidental Petroleum Corp, marking an aggressive drive to diversify its oil sources at the time.
 
Prospective buyers for the assets — mainly large energy firms from the United States, Europe, Africa and Latin America — include Angola’s state oil company Sonangol and two Russian energy giants, including Rosneft, said two of the sources.
 
Mexico’s Vista Oil & Gas has also expressed an interest, according to a separate source.
 
Meanwhile, Compania General de Combustibles, the energy arm of Argentine holding company Corporacion America, would also be studying some of the assets in Santa Cruz, Corporacion America spokeswoman Carolina Barros said.
 
One of the sources said there could be more than 15 prospective suitors.
 
Sinopec is being advised by Scotia Waterous, a unit of Canada’s Bank of Nova Scotia, which focuses on energy deals, two of the sources said.
 
All the sources declined to be named as the sale plans are confidential.
 
Sinopec and Sonangol did not respond to requests for comment. Asked about the sale and its interest, Rosneft said it was not able to confirm the information.
 
Vista, Scotia Waterous and Argentina’s energy ministry declined to comment.
 
In 2010, when Sinopec bought the Argentine assets, China — the world’s No. 2 oil consumer — was scouting for natural resources to feed its surging economy.
 
Worsening economic conditions and social unrest in Argentina, however, have “weighed” on the operation since then, Sinopec said in September last year.
Source: Shanghai Daily, October 10, 2017
Tourism flourishes during holiday
9th October 2017

 TOURISM has been booming in China during the National Day holiday, benefiting its economy and those of many other countries, official data yesterday showed.

 
One of China’s two Golden Weeks, the National Day holiday saw a surge in tourist revenue along with passenger flows. This year the holiday was extended by one day as the Mid-Autumn Festival, also known as the Moon Cake Festival, fell on Thursday.
 
A total of 705 million tourists traveled around the country during the holiday, generating 583.6 billion yuan (US$87.7 billion) of revenue, the China National Tourism Administration said.
 
The two figures marked jumps of 11.9 percent and 13.9 percent year on year respectively, the CNTA said.
 
Provinces with major scenic spots have seen rising numbers of tourists, with southwestern Guizhou having hosting over 46 million tourists who spent 30.5 billion yuan during the eight days, up 42.1 percent and 43.5 percent year on year respectively, said the CNTA.
 
Inner Mongolia in north China was visited by 106.2 million tourists who spent 8.3 billion yuan, up 24.5 percent and 38.3 percent respectively.
 
Most Chinese have chosen to indulge in food, cultural and rural tourism this year. Theme parks, museums and traditional culture streets have also seen an obvious growth in the number of visitors, according to CNTA.
 
The booming tourism was accompanied by busy traffic. Over 110 million trips have been made by rail since the holiday travel rush started on September 28, the China Railway Corporation said.
 
CRC scheduled thousands of extra trains during the holiday to ensure smooth travel. Airports were also expected to have seen passenger numbers rise, and highways have been clogged with more vehicles.
 
The economic impact of China’s mobile population has also been felt worldwide as more Chinese have opted to travel overseas.
 
Data complied by CNTA showed that around six million Chinese from nearly 300 cities traveled to 1,155 cities in 88 countries or regions during the National Day holiday.
 
Russia was the most popular destination for Chinese tourists, followed by Thailand, Vietnam, Singapore and Malaysia, while Moscow was the most popular city, followed by St Petersburg, Bangkok, Pattaya, and Singapore, CNTA data showed.
 
No figures are available as to how much Chinese have spent overseas during the eight-day holiday.
 
At a time when traditional growth drivers are losing steam, China has pinned hopes on services, including tourism, for new impetus to drive consumption and employment, and support economic growth and restructuring.
Source: Shanghai Daily, October 9, 2017
Citigroup Considering Onshore Cash Equities Business in China
6th October 2017

 

 
HONG KONG — Citigroup Inc is considering setting up an onshore cash equities business in China and expanding research coverage of Chinese stocks, to boost its share of the business in Asia, said the head of its regional equities unit.
 
The U.S.-headquartered bank is also looking to add at least 10 people to the unit, including bankers and technology staff, mainly at its Hong Kong and Singapore hubs, Richard Heyes told Reuters.
 
Citi's sharpened focus on its Asia equities business, which includes stock trading and research, is part of its global effort to bolster trading technology, hire senior bankers and boost financing to hedge funds.
 
"It's an interesting opportunity, one we are looking very closely at," Heyes said, referring to setting up an onshore cash equities business in China, which he said was in its early stages. He declined to give details.
 
"At the moment we don't feel we have a competitive disadvantage doing it from Hong Kong in the way the majority of people do. But over time, do I think we should strongly think about on-ground presence? Yes."
Analysts said China-listed shares' inclusion in the U.S. index publisher MSCI's emerging-markets benchmark this year, a milestone for global investing, would lead to a jump in demand for brokerage and research services.
 
That came on top of the introduction of programs allowing two-way trading between stock markets in Hong Kong and Shanghai and Shenzhen, as part of Beijing's efforts to open up capital markets.
 
China's brokerage revenue pool touched $41 billion in 2015, showed a report last year by Quinlan & Associates
Assuming institutional broking revenue is 10 to 15 percent of the total, a 1 percent market share would bring $40 million to $60 million in annual revenue to an equities house in the world's second-largest economy, the consultancy said.
 
To tap into an expected demand surge, Citi, which provides research on 175 China-listed firms, plans to increase coverage to 200 by year-end and 250 in the longer term, Heyes said.
 
"We have seen very clearly, as one of the biggest players in (the Hong Kong stock) connect, a very significant ramp up in the opening of accounts. It's very clear that many people are getting prepared for future activity in the China market."
 
Citi is also looking to bolster financing support for hedge funds, to help win more trading business and boost its Asia equities market share.
 
"We have had very meaningful success with some very important, large global hedge funds in the U.S. We are now expecting or have commitments from many of them to on-board us in Asia either by end of this year or early next year."
Source: New Yokr Times, October 6, 2017
Hong Kong Shares Rise, Japan Falls in Quiet Asian Trading
4th October 2017

 HONG KONG — Asian shares were mixed in holiday-thinned trading on Wednesday as investors brushed off Wall Street's latest advance into record territory.

 
KEEPING SCORE: Japan's benchmark Nikkei 225 index gave up early gains, slipping 0.1 percent to 20,598.39 while Hong Kong's Hang Seng advanced 0.7 percent to 28,370.43. 
Both indexes were at two-year highs. Australia's S&P/ASX 200 lost 0.9 percent to 5,652.10 and Southeast Asian indexes were mixed. Stock markets were closed in mainland China, 
South Korea and Taiwan for holidays.
 
LOOKING FOR LEADS: With some key Asian markets closed, investors had little basis for their trading and were looking at fresh leads elsewhere. Sentiment was lifted by U.S. 
auto sales data showing the first monthly sales gain for the year in September as drivers replaced cars destroyed by Hurricane Harvey. Markets were awaiting more U.S. data 
later in the day, including the monthly private ADP payroll report and the ISM non-manufacturing index. The figures will provide the latest insights into the world's biggest 
economy, which could factor into the Federal Reserve's plan to raise interest rates again by the end of the year.
 
FED: Investors were also awaiting a speech by Fed Chair Janet Yellen as speculation swirls about who President Donald Trump will tap to lead the U.S. central bank when her term 
ends early next year. The uncertainty has left the dollar in limbo. White House officials said last week Trump has met with former Fed board member Kevin Warsh, and current 
member Jerome Powell. But Trump has said he could re-nominate Yellen.
 
QUOTEWORTHY: "The focus may also be brought to the next Fed chair with Fed's Yellen's speech," said Jingyi Pan, market strategist at IG in Singapore. "Although the names on 
the list may be of little surprise to the market, the conversation is expected to further heat up on this development."
WALL STREET: Major U.S. benchmarks pushed higher to end in record territory. The Standard & Poor's 500 index rose 0.2 percent to 2,534.58 for its sixth straight day of gains. 
The Dow Jones industrial average rose 0.4 percent to 22,641.67, and the Nasdaq composite rose 0.2 percent to 6,531.71.
 
ENERGY: Oil futures fell further. Benchmark U.S. crude lost 32 cents to $50.10 a barrel in electronic trading on the New York Mercantile Exchange. The contract dipped 16 cents to
 settle at $50.42 per barrel on Tuesday. Brent crude, the standard for international oil prices, fell 26 cents to $55.74 per barrel.
CURRENCIES: The dollar slipped to 112.56 Japanese yen from 112.86 yen late Tuesday. The euro rose to $1.1766 from $1.1745.
Source: New York Times, October 4, 2017

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131