Trailers are manufactured at Truong Hai Automobile Company in Quảng Nam Province. VNS Photo Công Thành HCM CITY — Trường Hải Auto Corporation (Thaco) is set to become Thaco Group, a holding company with stakes in five member companies operating in a wide range of sectors, after shareholders approved the proposal at its annual general meeting held recently in HCM City. One corporation is in machinery and automobile production, two in agriculture and forestry, transport infrastructure, industrial parks and urban areas and two others in commerce and logistics. Thaco chairman Trần Bá Dương said the automobile corporation would manufacture a range of vehicles including passenger cars, buses, trucks, and specialised vehicles in a range of price segments and have a presence in the entire value chain from research and development and manufacturing to distribution and retail. In the mechanical … [Read more...] about Thaco to become holding company, diversify into various sectors
Exporting new cars to china
Businesses struggle as cracks appear in China”s economy
More employees are seeking legal help as companies lay off workers or withhold salaries AFP/NICOLAS ASFOURI The world's second-largest economy is losing steam, hitting its slowest growth in almost three decades last year, and flagging further in recent months. While gross domestic product grew at 6.6 per cent in 2018 - a rate that would be the envy of most nations - China's efforts to cut its debt mountain have weighed on the economy. Private businesses in particular face new hurdles as costs rise and financing becomes harder to come by, while the trade war with the United States has not helped. Here is a look at some of the struggles faced by Chinese companies and people: GAME OVER FOR GAMERS Feeding China's addiction to video games seemed an easy bet for Beijing Yixin Technology, a tech startup behind the mobile game Farm Take Home. The game allows players to harvest wheat, raise chickens and plant apple trees - a bucolic refuge from the pressures of urban China. But in real life, … [Read more...] about Businesses struggle as cracks appear in China”s economy
Trump says China to cut tariffs on US-made cars in potential lift for Tesla, BMW
The agreement has been seen as a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China. Trump, fresh from agreeing a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40 percent." The move, if realized, would bolster U.S. car manufacturers who were hit hard when China ramped up levies on U.S.-made cars in July as part of a broad package of retaliatory tariffs amid a sprawling trade war between Washington and Beijing. China, the world’s largest auto market, raised tariffs on U.S. auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year. That put U.S.-made car brands like Tesla and Ford Motor Co’s Lincoln at a major disadvantage, soon … [Read more...] about Trump says China to cut tariffs on US-made cars in potential lift for Tesla, BMW
Property firms forced to wean themselves off bank credit
The HCM City Real Estate Association has recently proposed that the central bank should allow lenders to use 45 per cent of their short-term deposits for long- and medium-term loans next year instead of 40 per cent as it has mandated. — Photo baodansinh.vn Compiled by Thiên Lý The HCM City Real Estate Association has recently proposed that the central bank should allow lenders to use 45 per cent of their short-term deposits for long- and medium-term loans next year instead of 40 per cent as it has mandated. The State Bank of Việt Nam (SBV) has been reducing this cap every year, and it will drop to 40 per cent in January 2019. HOREA has now made this suggestion because the law allows property developers to invest only 15-20 per cent of a project’s cost and borrow the remaining amount, but banks are unable to meet this demand because short-term deposits account for a large proportion of their total deposits. For instance, deposits with different terms … [Read more...] about Property firms forced to wean themselves off bank credit
US sets new trade talks with EU, Japan, Britain
US Trade Representative Robert Lighthizer said the administration notified Congress of its intent to negotiate the three separate trade agreements. A container ship is loaded with containers at Port Everglades on Jul 30, 2014 in Fort Lauderdale, Florida. (Joe Raedle/Getty Images/AFP) US officials announced on Tuesday (Oct 16) negotiations for separate trade agreements with Britain, the European Union and Japan as part of efforts by President Donald Trump's administration to rebalance global commerce. US Trade Representative Robert Lighthizer said the administration notified Congress of its intent to negotiate the three separate trade agreements. "We are committed to concluding these negotiations with timely and substantive results for American workers, farmers, ranchers, and businesses," Lighthizer said. The move follows the Trump administration's renegotiation of the North American Free Trade Agreement with Canada and Mexico and its push to correct what Trump maintains is an … [Read more...] about US sets new trade talks with EU, Japan, Britain