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News from China
China's property market to see slower sales growth in 2017: Moody's
27th January 2017

 MOODY'S Investors Service expects China's property market to show a slower pace of sales growth in 2017 following tightened regulations to ease an overheated market.

 
"We expect nationwide contracted sales in 2017 will be largely flat or will see a slight decline from 2016, after buoyant growth that year," Chris Wong, a Moody's analyst, said in a report released Thursday.
 
China's contracted sales grew by 36.2 percent year on year to a record high of 9.9 trillion yuan (US$1.4 trillion) in 2016, driven by growth in both sales volumes and average prices, according to the report.
 
The growth pace in December, however, slowed from that seen in the first three quarters after the Chinese government implemented tightening measures from late September to cool the sector, Wong said.
 
Dozens of Chinese cities have announced measures, including purchase limits and tightened mortgage restrictions, to prevent housing prices rising out of control.
 
These policies have started to pay off. In December, of the 70 major cities monitored by the National Bureau of Statistics, 46 saw their new housing prices climb month on month, down from 55 in November and 62 in October. Meanwhile, 20 cities reported month-on-month price declines, increasing from 11 cities in November and seven cities in October.
 
Moody's also forecast that low inventory levels in China's first- and second-tier cities will reduce the risk of property price corrections in the next six months.
Source: Shanghai Daily, January 27, 2017
New index for interbank bond market
26th January 2017

 CHINA’S interbank bond market will be included in a new index under Bloomberg Barclays indexes to reflect the growing importance of the country’s financial markets, Bloomberg LP said yesterday.

 
The newly created China Aggregate Index will be launched on March 1, Bloomberg said in a statement yesterday.
 
The index will track government securities valued at more than 5 billion yuan (US$727 million) and corporate securities worth above 1.5 billion yuan.
 
Investors are awaiting China’s entry into global indexes such as JPMorgan Chase & Co’s emerging-market bond index and Citigroup’s global debt barometer to invite an increase of foreign participation in China’s onshore bond market.
Source: Shanghai Daily, January 26, 2017
Chips lift Samsung’s earnings in Q4
25th January 2017

 SAMSUNG Electronics Co yesterday said it expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco in the fourth quarter.

 
The South Korean tech giant and Apple Inc rival is embroiled in an influence-peddling scandal surrounding President Park Geun-hye, with five Samsung Group executives already grilled by prosecutors and investigations ongoing.
 
“The uncertain business environment such as the changing political landscape in Korea and overseas poses a challenge to the execution of mid- to long-term business strategies, such as M&A and investment decisions and developing new growth engines,” Samsung Electronics said in a statement.
 
Even so, it flagged higher earnings this year after a slow first quarter, when steeper marketing costs will eat into its bottom line as it tries to rebuild its reputation from the failure of its latest flagship phone.
 
The world’s top maker of smartphones, memory chips and flat-screen televisions is counting on the booming chip market to continue driving growth and give the mobile business breathing space to rebuild its premium line-up.
 
The company forecast “stable demand” in 2017 for memory chips, which hit an all-time earnings high in the October-December period.
 
Fourth-quarter operating profit jumped 50 percent to 9.22 trillion won (US$7.93 billion), its highest in over three years and matching prior guidance of 9.2 trillion won. Earnings from the chips business soared 77 percent year on year to a 4.95 trillion won. Revenue were flat at 53.3 trillion won.
 
Analysts said the outlook for 2017 was clouded by uncertainty over the performance of new premium smartphones, succession planning within the controlling Lee family and the fallout from the graft scandal.
 
Samsung Group scion Jay Y. Lee, 48, is restructuring the sprawling conglomerate in moves analysts see as preparations to succeed his father, Lee Kun-hee, who was hospitalized in 2014.
 
But the heir-apparent has been classified as a suspect by prosecutors investigating whether the conglomerate paid bribes to a Park associate to win support for a merger of affiliates in 2015.
 
“If the head of the group is indicted, there will likely be some leadership vacuum,” Alpha Asset Management fund manager C.J. Heo said.
Source: Shanghai Daily, January 25, 2017
Microsoft and startups share tech
24th January 2017

 MICROSOFT Corp has opened its first accelerator base in Shanghai, the software giant said yesterday.

 
The company will use the accelerator base in Xuhui District, which will serve the first batch of 14 startups, to share advanced technologies, resources and experiences, and to help Shanghai develop into an international innovation and entrepreneurship platform, Microsoft said.
 
Programs the base runs focus on technologies like cloud computing, Big data, artificial intelligence and the Internet of Things, which bring new challenges and opportunities to every industry, said Hsiao-Wuen Hon, corporate vice president of Microsoft and chairman of Microsoft’s Asia-Pacific R&D Group.
Source: Shanghai Daily, January 24, 2017

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