China’s Exports Rise 7.2%
China’s exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year.
Singapore Takes the Top Spot for International Visitor Spending
Singapore has overtaken Bangkok to take the top spot for international visitor spending in the Asia Pacific, MasterCard has reported.
China Services Sector Sees Boom
Activity in China’s services sector expanded at its fastest pace in 15 months in June, reinforcing signs that the broader economy is stabilising.
China Auto Sales Rise 14% as Foreign Brands Target Small Cities
Passenger-vehicle sales in China rose last month, as foreign automakers stepped up their push into smaller cities with cheaper models in a challenge to local carmakers, Bloomberg reports. Retail deliveries of cars, multipurpose and sport utility vehicles climbed 14 percent to 1.47 million units in June, the Passenger Car Association said on its website in early July. For the first six months, sales rose 11 percent to 9.09 million. Foreign automakers are targeting China’s smaller cities as the country’s major population centres increasingly restrict the number of passenger vehicles to curb pollution and congestion. That’s led to the introduction of cheaper models to compete with local carmakers, which have struggled to stem a loss in market share in the world’s largest auto market. “Automakers are focusing their product launches on the lower- and mid-end of the market,” said Harry Chen, a Shenzhen-based analyst at Guotai Junan Securities Co. Ltd. “When new products come into the market, it stimulates sales.” General Motors Co. (GM) introduced the Aveo subcompact sedan last month, while Volkswagen AG started sales of the new Polo compact sedan at the end of May, according to the companies. At a starting price of 73,900 yuan ($12,000), the Aveo is cheaper than BYD Co. (1211)’s G6 sedan and compares with the 68,800 yuan price tag for Geely Automobile Holdings Ltd. (175)’s EC7 sedan, according to pricing data from GM and car-shopping website autohome.com. The competition is eating into the market share for Chinese brands. China’s local marques accounted for 21.5 percent of industry car sales…
Xiaomi Smartphone Shipments Almost Quadruple in 2014
Xiaomi Smartphone shipments have almost quadrupled in the first half of this year, surpassing the total amount of the devices the company sold in 2013.
Soccerex Unites the World of Football in Jordan to Help Develop Asia
Soccerex, the global leader for the business of football, came to Jordan in May 2014 to hold the second edition of the Soccerex Asian Forum. It was the first to take place in the Middle East.
More than 300 Exhibitors will appear at Singapore Jewellery & Gem Fair
More than 300 exhibitors from 30 countries to appear at Singapore Jewellery & Gem Fair, immersing visitors in infinite opulence and opportunities.
Rolls Royce Enters Cambodia Market
British luxury auto maker Rolls Royce has set its sights on one of Asia’s poorest but fastest growing nations: Cambodia.
IT Giant Verizon Appoints Francis Yip to Lead Asia-Pacific Business
Verizon Enterprise Solutions has appointed Francis Yip to Group Vice President of Verizon Asia Pacific.
Japan’s Top Car Makers Speed up Arrival of Fuel-Cell Cars
Some of Japan’s top car makers – including the well-known Toyota Motors – are joining forces to speed up the arrival of the fuel cell powered car.
