One of the benefits of China shifting its economy away from traditional manufacturing is that the country’s economic growth will be less reliant on borrowing, an economist said on Monday. “[China is] trying to boost growth of the new economy, as the new economy is less credit intensive. That’s also helping deleveraging efforts in China,” […]

Beijing’s push to transition its economy has led to the country moving on from simply being known as the world’s factory, according to a top executive at Swiss bank UBS. “A lot of things are being created now in China, rather than [it just] being a manufacturing hub,” Kathryn Shih, president of UBS Asia Pacific, […]

The Chinese government’s efforts to cool the property sector may finally pay off in 2018, with UBS forecasting zero growth in real estate transactions for the entire year. Real estate purchases slowed in the second half of last year after authorities intensified crackdowns on speculative buying. Soaring demand for properties and a rapid build-up in […]

Asian shares on Monday looked set to take cues from Friday’s stateside gains. With few data releases expected during the session, many investors are awaiting earnings releases from regional corporates later in the week. U.S. markets closed higher on Friday despite jobs data for the month of December coming in below expectations. Just 148,000 jobs […]

A tanker carrying Iranian oil and run by the country’s top oil shipping operator was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship, leaving its 32 crew members missing, the Chinese government said. Thick clouds of dark smoke could be seen billowing out of the […]

Japanese Prime Minister Shinzo Abe on Sunday called on central bank governor Haruhiko Kuroda to keep up efforts to reflate the economy, but added he was undecided on whether to reappoint Kuroda for another five-year term. Kuroda was handpicked by Abe to take the helm of the central bank in 2013 to deploy a massive […]

China’s Commerce Ministry said on Friday it will limit exports of crude oil, refined oil products, steel and other metals to North Korea, in line with tough new sanctions imposed by the United Nations for Pyongyang’s missile tests. The statement comes after the U.N. Security Council last month unanimously voted in favor of new penalties […]

China will encourage companies to use the yuan in cross-border transactions and facilitate foreign investors’ use of the currency in direct investments in the country, the central bank said on Friday. China will also allow foreign institutions to use yuan in carbon emissions trading domestically, the People’s Bank of China said in a statement published […]

South Korean trade negotiators are expected to be on the defensive as they meet with their U.S. counterparts on Friday to renegotiate a bilateral free trade agreement. President Donald Trump’s administration is looking to reduce the U.S. trade deficit with Seoul, which stood at $3.5 billion in the third quarter, according to U.S. data. South […]

Alphabet’s Google has led a $120 million investment in Chinese live-stream mobilegame platform Chushou, the two companies said on Friday, as the U.S. firm eyes new inroads to China where its search engine is blocked. Founded in 2015, Chushou is an online e-sports platform where users can live stream their mobile phone games. The service […]