Asia

China’s central bank likely to hold medium-term lending rate steady next week

Weak Chinese currency has remained a major concern limiting any easing to the central bank's monetary policy

Japan’s credit profile to benefit from higher interest rates, stronger inflation outlook: Fitch

Higher inflation helps lower the value of outstanding debt and pushes down Japan's debt-to-GDP ratio

Japan’s base pay rises 2.5 percent in May, the fastest in 31 years

Japan's nominal wages rose 1.9 percent to $1,850, marking the highest year-on-year increase in 11 months

Japan’s current account surplus expands 41.8 percent to $18 billion in May 2024

Primary income came to a 4.21 trillion yen surplus, the largest since comparable data became available in 1985

South Korea’s carriers see 29 percent surge in passenger traffic to record high 47 million in H1 2024

South Korea's passenger traffic will likely reach 100 million in 2024, exceeding the pre-pandemic level of 93.47 million in 2019

Thailand’s tourism sector surges with 17.5 million visitors in H1 2024

Tourists brought the country revenues of over $22.6 billion in H1 2024

South Korea’s current account surplus hits $8.92 billion in May, largest in 32 months

Exports, which played a major role in this economic shift, rose 11.1 percent year-on-year to $58.95 billion in May

Japan faces shortfall of nearly one million foreign workers by 2040 to meet growth goals

5.91 million foreign workers are expected to be employed in Japan by 2040

South Korea’s President announces $18 billion support package for micro businesses

The government will expand access to low-interest loans for micro business owners and extend the repayment period for policy loans

South Korea’s semiconductor exports hit record high of $13.42 billion in June

The country’s total exports reached $57.07 billion in June, a 5.1 percent annual increase

South Korea reveals 10-year $1.44 billion plan to develop cutting-edge green technologies for ships

The technologies include features such as full autopilot capabilities and carbon-free engine

Japan revises Q1 GDP contraction to 2.9 percent from 1.8 percent on data corrections

Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later

Vietnam cuts VAT to 8 percent on select goods and services till year end

Vietnam's finance ministry has also reduced various fees and charges by up to 50 percent until year-end to support businesses

South Korea’s industrial output falls 0.7 percent in May, semiconductor gains offset by automobile declines

Retail sales and facility investment also lost ground during the same period

South Korean government allocates $17.9 billion for R&D budget for 2025

The ministry will allocate 3.5 trillion won to AI chips, advanced biotech, and quantum tech

South Korea’s overseas assets reach new high of $1.911 trillion

External financial assets reached $1.911 trillion at the end of December last year

China’s foreign direct investment plunges 28 percent to $57.94 billion in 5-month period

The manufacturing sector attracted 28.4 percent, or 117.1 billion yuan, of the total FDI inflow

Korea, Japan to take appropriate measures against currency volatility

Japanese yen has neared the 160 mark against the U.S. dollar, a level unseen in decades

China’s Chang’e-6 probe lands on Earth with historic samples from moon

Beijing plans to send astronauts to the moon by 2030 and build a research base at the lunar south pole

China’s general public budget spending rises 3.4 percent to $1.52 trillion

During the first five months of the year, tax revenues declined 5.1 percent annually to 8.0462 trillion yuan

Chinese financial sector sees 8.5 percent increase in total assets, reaching $66.93 trillion

The assets of the banking sector reached 429.58 trillion yuan, up 8.1 percent YoY

Japan’s tourism sector booms with over 3 million visitors in May

Tourism spending reached $11.1 billion in Q1 2024