Asia

Profits of China’s major industrial firms rise 4.3 percent to $288.49 billion in first four months of 2024

Data from the National Bureau of Statistics reported that this growth rate was the same as that registered in the first quarter

Vietnam’s YoY industrial production up 6 percent in Q1 2024

The manufacturing and processing sector grew by 6.3 percent, contributing 5.5 percentage points to the overall increase

China power sector achieves $16.5 billion in completed clean energy projects in Q1 2024

The magnitude of clean energy projects currently under construction in China surged to 512.05 GW during the quarter

China’s outbound direct investment surges to $47.41 billion in first 4 months of 2024

This represents an 18.7 percent increase compared to the same period last year

UAE announces plan to invest $10 billion in Pakistan

In January 2023, the UAE agreed to roll over an existing $2 billion loan and provide an additional $1 billion to Pakistan

China issues $5.5 billion worth of 20-year treasury bonds

China plans on issuing 20-year, 30-year and 50-year ultra-long-term national treasury bonds this year

South Korea announces $19 billion support package for chip industry

$12.47 billion financial support program aims to back investments by semiconductor companies

Japan posts $3 billion trade deficit in April despite surge in exports

Higher crude oil prices and a sharp drop in the value of the yen boosted the cost of imports, offsetting robust growth in exports

100 mega events in Hong Kong to attract 1.7 million visitors in next 6 months

Visitors to Hong Kong expected to stimulate around $923 million in consumer spending

Japan’s 10-year bond yield surges above 1 percent for first time in 11 years as Central Bank shifts policy

Investors are speculating that BoJ will continue raising interest rates in the near future

Abu Dhabi’s Mubadala backs Japan’s 108GW solar target with inaugural renewable energy investment

PAG REN I platform will play a critical role in supporting large corporations across Japan as they transition to clean energy

China’s fiscal revenue down 2.7 percent in first four months of 2024, expenditure up 3.5 percent

For April alone, fiscal revenue fell 3.7 percent against a 2.4 percent decline in March

China’s gasoline exports fall 50.8 percent to lowest in 9 years in April

Domestic travel saw a 28 percent increase compared to 2019, fueling demand for gasoline

Elon Musk launches Starlink in Indonesia to support healthcare sector

Musk launched Starlink in three health centers across Indonesia

Saudi Arabia, China ink two key deals to boost Kingdom’s housing sector

Agreements to develop and raise the quality of residential projects across the Kingdom

China introduces visa-free entry for tourists entering on cruise ships

China also extends visa-free travel for 11 European countries and Malaysia until the end of 2025

China’s LNG imports forecast to surpass 79 million tons in 2024, PetroChina official says

China shipped nearly 20 million tons of LNG already in the first quarter of 2023

Japan’s wholesale inflation remains at 0.9 percent in April as yen declines

Import prices in yen increased 6.4 percent annually in April and 1.4 percent compared to March

South Korea plans $7.3 billion boost to support semiconductor industry

Announcement comes after commitment of $6.94 billion in investment in AI by 2027

China’s consumer prices rise 0.3 percent in April, producer prices decline 2.5 percent

Decline in manufacturing and services activity raises recovery concerns

Japan’s current account surplus soars to record high of $162.56 million in fiscal 2023

Goods trade deficit decreased to $22.94 million, down from the previous year's $113.83 million

South Korea’s fiscal deficit hits record high of $55.07 billion in Q1 2024

This was primarily attributed to increased expenditures aimed at strengthening the ongoing economic recovery

Hanoi attracts over $1.1 billion in FDI in first four months of 2024

In April alone, 20 new FDI projects in Hanoi attracted $103.9 million