The Week Ahead – 24 June 2022
Australia: End of Financial Year 2022 It’s time for investors to get their tax affairs in order and make their new financial year resolutions as the June 30 deadline approaches. On the data docket, retail spending, job vacancies and home prices headline the Aussie economic calendar. The week kicks-off on Tuesday, when the weekly consumer…
Economic Watch: A decade of evolution
BEIJING – With steady efforts to push structural reforms and expand opening-up, China’s financial system has gradually evolved and matured over the past decade, offering solid support to the stability and development of the broader economy. The following are some facts and figures on how the country reformed its financial system to spur the real…
BMW opens new factory in China
SHENYANG – A new factory of BMW Group’s joint venture in China opened Thursday in Shenyang, northeast China’s Liaoning Province, with an investment totaling 15 billion yuan (about 2.2 billion U.S. dollars). Plant Lydia of BMW Brilliance Automotive Ltd. (BBA), a joint venture between BMW and Chinese carmaker Brilliance China Automotive Holdings Ltd., will boost…
ASIC releases guidance for corporate collective investment vehicles
ASIC has today released a range of documents to support the licensing and other requirements for corporate collective investment vehicles (CCIVs). The requirements come into effect on 1 July 2022, when the CCIVs regime commences. Report 728: Response to submissions on CP 360 Corporate collective investment vehicles: Preparing for the commencement of the new regime (REP 728) highlights the key…
CommSec morning report Friday
In testimony to the US House Financial Services Committee, US Federal Reserve chair, Jerome Powell, reiterated that the central bank is “strongly committed” to bringing down inflation. He also noted that a recession is a “possibility.” In US economic data, initial jobless claims fell by 2,000 to 229,000 last week (survey: 226,000). The S&P Global…
Evening report Thursday
The ASX 200 edged higher by 19.9 pts or 0.31 per cent to 6528.4, fading from this morning’s best levels, when the index was up by as much as 0.66 per cent. Resource stocks fell most after the Materials and Energy sectors shed 1.5 per cent and 2.1 per cent, respectively. This comes on the…
Xinjiang sees surging foreign trade
URUMQI, – Northwest China’s Xinjiang Uygur Autonomous Region is seeing increasing foreign trade in tandem with surging China-Europe freight train trips, the construction and development of land ports and comprehensive bonded zones. The region posted over 67.4 billion yuan (about 10 billion U.S. dollars) in foreign trade in the first five months of this year,…
CommSec Morning Report Thursday 23 June
Latest news • In testimony to the Senate Banking Committee, US Federal Reserve chair, Jerome Powell, said that the US central bank was “strongly committed” to bringing down inflation. Powell said that ongoing increases in the central bank’s policy rate would be appropriate. • In US economic data, mortgage applications rose by 4.2% last week…
3 reasons why financial institutions are optimistic on China
China’s economy remains resilient in the long run in spite of challenges from COVID-19 pandemic, international financial institutions said. In reports and data released recently, they cited three reasons for optimism on China’s economy. Reason 1: limited impact on China’s foreign trade German trade with China in April was little affected by COVID-19 lockdowns and…
Online shopping spree mirrors consumption recovery
BEIJING, – As the June 18 shopping festival has come to an end, Chinese consumers have set off a mid-year consumption boom. During the festival, the total amount of orders placed on JD.com, China’s e-commerce behemoth, hit a record high of 379.3 billion yuan (about 56.7 billion U.S. dollars). The total hours of livestreaming on…
