Business
Taiwanese Businesses Look to India as Alternative to China
NEW DELHI—Taiwan is pitching India as a potential business destination to its tech, auto, renewable energy and farm sector firms as the United States’ trade war with China has pushed its companies to look for newer markets, two officials said on Sept. 20.
More than 10,000 Taiwanese companies, including Apple suppliers Foxconn and Wistron have massive operations in China, thanks to its tax incentives, organized supply chain and logistics, efficient business parks as well its cultural ties to the island.
But a trade war between Washington and Beijing has led to higher tariffs on goods worth tens of billions of dollars and disrupted global supply chains, prompting companies to look at other countries to escape higher tariffs.
“This trade war has encouraged more Taiwanese companies to figure out other options. So India and also other ASEAN countries are the alternative markets,” Shih-Chung Liu, vice chairman of Taiwan External Trade Development Council, told reporters.
The Association of Southeast Asian Nations (ASEAN) is a regional block comprising ten nations in Southeast Asia, which promotes economic, political and military ties between members.
Beijing maintains that Taiwan, an island 110 miles (177 km) off the Chinese mainland, does not qualify for formal diplomatic ties with any country. And though India has no formal relation with Taiwan, Taipei runs an Economic and Cultural Center in the capital New Delhi, which operates as a de facto embassy.
Taiwanese firms are looking to invest in India’s technology, renewable energy, electric vehicle and farm sectors, Liu said.
“India is among the most important markets, among those 18 new southbound policy countries.”
Taiwan’s southbound policy focuses on strengthening ties in the areas of culture, tourism, education and trade with 18 southeast and south Asian countries.
It has opened four trade offices in India in the last few years and bilateral trade with Asia’s third-biggest economy stood at $7 billion in 2018.
Trade between India and Taiwan will likely touch $10 billion over the next few years, said Chung-Kwang…
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in
Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
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