15 September 2025 | 12:36PM HKT China: August activity data below expectations, with investment especially weak Bottom line: China's activity data broadly weakened and missed market expectations in August (again). Industrial production (IP) growth declined on the back of weaker-than-expected exports, as slowing output growth in ferrous metal smelting, power generation and general equipment industries more than offset faster output growth in the non-ferrous smelting industry. Fixed asset investment (FAI) gro ...

India is one of the most open economy in terms of foreign direct investment. India's largest FMCG company, automobile company, telecom company, mutual fund, private sector bank, insurance company, all are majority owned by foreigners. There's hardly any other country in the world where foreigners will be allowed to own such kind of industry.However, can we improve further upon this. My favorite example on foreign direct investment is Marauti Suzuki. In the 80s, Suzuki came to set up an automobile company in ...

Chery Automobile is planning a Hong Kong IPO that may raise about $1.5 billion as early as next month, sources say https://t.co/R2pKYnwO12 ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **China Consumer Sector** and its performance as indicated by the **Five-factor Consumer Activity Z-Score** compared to the **MSCI China** index [1][2]. Core Insights - **Consumer Activity Decline**: Consumer activity in China weakened further in July 2025, as evidenced by a decline in the Five-factor Consumer Activity Z-Score [7]. - **Key Factors**: The decline is attributed to softening in commodity retail sales and passenger car sales, indicating a lackluster consumer appetite [7]. - **Economic Pressures**: Deflation in wage growth and a softening property market are identified as significant drags on consumption [7]. - **Stability in Certain Areas**: Household loans, air passenger travel, and consumer catering remain relatively stable, with the latter two potentially benefiting from seasonal support during summer [7]. - **Future Outlook**: There are concerns that the payback of export front-loading and any delays in incremental fiscal stimulus may put additional pressure on consumer sentiment in the coming months [7]. Additional Important Information - **Data Sources**: The analysis is based on data from MSCI, CEIC, and Morgan Stanley Research, with the five factors considered being household loan year-over-year change, retail sales in catering, retail sales in commodities (excluding autos), passenger car retail sales, and air passenger traffic [4]. - **Analyst Team**: The report is prepared by a team of equity strategists at Morgan Stanley, including Laura Wang, Chloe Liu, and Vicky Wu [5]. This summary encapsulates the critical insights and data points from the conference call, providing a comprehensive overview of the current state and outlook of the consumer sector in China.

RT Gareth Jenkinson (@gazza_jenks)Toyoto - the Japanese automobile manucfacturer - is deeply exploring blockchain and has published a deep research paper with @avax.We're chatting to Roi Hirata live now on #CHAINREACTION 👇https://t.co/NCCP8wsVbz ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Chinese Economy and Macro Environment - **Key Focus**: Economic growth, monetary policy, property sector stabilization, and demand-side measures Core Insights and Arguments 1. **Slower Growth and Demand-Side Measures**: July economic data indicated softer growth momentum, with a month-on-month contraction in new bank lending and broad-based weakness in household and corporate lending. This may prompt faster rollout of demand-side measures to stabilize growth in H2 [2][7] 2. **Policy Support for Private Economy**: President Xi emphasized the need for measures to promote the private economy, including fair competition and settling local government arrears. Special local government bonds (SLGBs) are being used to accelerate repayments to private firms [3][7] 3. **Property Sector Intervention**: The central government may take a more active role in stabilizing the property sector, potentially asking state-owned enterprises (SOEs) to purchase unsold homes to clear excess inventories [4][8] 4. **Monetary Policy Stance**: The People's Bank of China (PBoC) maintained a moderately accommodative monetary policy, focusing on structural support for the real economy. Targeted support for SMEs and sectors like technology and green development is emphasized [9][11] 5. **Weakness in Property Data**: July property data showed significant declines, with property investment falling at the fastest pace since November 2022. The central government is expected to introduce more forceful solutions to address this weakness [8][9] 6. **Credit Support for Key Sectors**: The PBoC's report highlighted the need for targeted credit support in five major areas, which now account for approximately 70% of new loans [10][11] 7. **Preventing Capital Idleness**: The PBoC stressed the importance of preventing capital idleness in the financial system, aiming to improve efficiency rather than tightening monetary conditions [12][11] Additional Important Insights 1. **Economic Activity Indicators**: Various economic activity indicators, such as the operating rates of semi-steel tyres and cement shipping, showed mixed results, indicating a need for close monitoring of industrial performance [13][19] 2. **Container Shipping Costs**: Container shipping costs on China-Eastern US routes have declined, reflecting changes in global trade dynamics [70][11] 3. **Inflation Trends**: Crude oil and steel rebar prices have edged down, while agricultural product prices have increased seasonally, indicating varied inflationary pressures across sectors [57][65] 4. **Visitor Trends**: There has been an increase in mainland Chinese visitors to Hong Kong, suggesting a potential recovery in tourism-related sectors [76][78] This summary encapsulates the key points discussed in the conference call, focusing on the economic outlook, policy measures, and sector-specific insights that could influence investment decisions.

Industry Development - Pakistani business magnate Mian Mohammad Mansha is establishing an electric vehicle factory [1] - The factory is a partnership with Chery Automobile, a major Chinese car exporter [1]

日美两国达成贸易协议后，日本东证指数涨幅扩大至2%。汽车股集体走高，东证汽车指数涨近5%，本田汽车涨逾7%，丰田汽车涨近7%，外汇交易员 (@myfxtrader):特朗普称将对日本商品征收15%关税，日本将向美国投资5500亿美元。美国将获得90%的利润。 日本将向其国家开放贸易，包括轿车、卡车、大米等农产品以及其他东西。 ...

数实融合纵深推进 市中区坚持将数字化、智能化作为转型升级核心引擎，深入实施"智改数转"行动，全面赋能制造业转型 升级。数字基座持续夯实，累计建成5G基站5481个、确定性网络1.45万公里，为新型工业化提供强力支 撑。技术赋能成效显著，成功打造国家级、省级试点示范15个。其中，国网电力的"火石"平台覆盖全省 16地市133个行业，连接工业设备超170万台，国内首次实现了省域分行业、分地区全社会用电量日计 算，获评国家级工业互联网"双跨平台"；山推建友创新融合5G技术与混凝土搅拌设备，推出智慧云服 务管理平台，成功入选工信部5G工厂名录。数字产业加速壮大，培育未来集团、北方智企等亿元级数 字化服务企业13家，2024年全区规模以上信息传输、软件和信息技术服务业营业收入达156.1亿元，先 后获评山东省"建设信息基础设施和推进产业数字化、数字产业化成效明显区"以及"DCMM贯标先进区 域"，数字化浪潮澎湃向前。 创新生态持续优化 产业能级不断跃升 市中区充分发挥信息通信网、能源互联网"两张网"资源优势，持续激发产业内生动力。随着发展动能加 速积蓄，一批掌握核心竞争力的骨干企业勇立潮头，山东电力设备公司成为全省唯一 ...

Group 1 - The public auction of 81,147,337 shares of Zhongtai Automobile (stock code: 000980) owned by Jiangsu Shenshang Holding Group Co., Ltd. will take place on JD Network Judicial Auction Platform from June 29, 2025, to June 30, 2025 [1] - The auction will be conducted by Jilin Province Jincuiniu Network Technology Co., Ltd., which will assist in the investigation and auction process, with costs borne by the defendant [1] - Interested parties must contact the court before the auction date to assert any rights, including priority purchase rights, or they will be deemed to have waived such rights [2]