Peter Lewis: A fast moving and topical business and finance show.
A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning (Mon - Thu 8 to 9 a.m.; Fri 8 to 8:30 a.m.) on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at email@example.com, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
China’s State Council has unveiled a detailed plan for wide-ranging reforms for Shenzhen. The blueprint calls for the city to integrate its economy and culture with Hong Kong and Macau and to rank among the best in the world by 2025 in economic strength, competitiveness and innovation.
The US Commerce Department has granted a temporary reprieve for Chinese telecoms firm Huawei to buy components from US firms for another 90 days. However, Commerce Secretary Wilbur Ross added a further 46 Huawei affiliates to the US export blacklist.
Facebook and Twitter say they have shut down hundreds of Chinese state-backed disinformation campaigns on their platforms that sought to “sow political discord in Hong Kong”. Twitter said it has discovered 936 accounts originating from China, that were “deliberately and specifically trying to undermine the legitimacy and political positions of the protest movement on the ground”.
Joining us on today’s Money Talk to discuss the Hong Kong economy and the government’s latest stimulus plan is James Lau, the Secretary for Financial Services and the Treasury in the HKSAR Government. That’s after 8:30. Before that, reviewing the latest business and finance headlines, are Connie Bolland at Economic Research Analysis and Pete Sweeney from Reuters Breakingviews. Providing the view from Japan is Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute.
20/08/2019 - 8:08 Business & Market Discussions
Connie Bolland, Founder & Chief Economist at Economic Research Analysis, comments that it’s much easier for Shenzhen to build a technology centre rather than a financial centre, which requires vital ingredients such as the free flow of capital and also credibility that takes time to establish.
Pete Sweeney, Asia Editor from Reuters Breakingviews, comments that the 90-day extension for Huawei reveals how much Chinese companies are dependent on American technology, without which their overseas sales will decline sharply.
20/08/2019 - 8:25 View from Japan
Naoyuki Yoshino, Dean & CEO of the Asian Development Bank Institute, says that Japan has to follow the US and Europe if their central banks decide to ease monetary policy, but Prof. Yoshino also points out that having too loose a monetary policy will have a negative impact in the coming years and may also lead to a big bubble in the Asian economies.
20/08/2019 - 8:34 HK's Multi-billion Dollar Relief Measures & Subsidies
Hong Kong’s Secretary for Financial Services and the Treasury, James Lau, says that the SAR government is seriously concerned about the slowdown in the local and global economy, and has introduced HK$19bn of relief measures. Talking about the ongoing protests, Mr. Lau says that the government is looking forward to engaging in open-minded dialogue with the public after disruptive actions such as blocking government buildings and disrupting traffic have been stopped.
President Trump has delayed imposing tariffs on auto imports by up to six months. In January, the Commerce Department issued a report suggesting that President Donald Trump impose a tariff of 25% on imported cars, saying that the imports threaten US national security.
The US President has signed an executive order that would give the Commerce Secretary the power to review any transactions involving companies that are viewed as posing a security threat to national security. The effect would be to prohibit US companies from using any telecoms equipment manufactured by companies such as China’s Huawei and ZTE.
The latest data from the mainland shows China’s economy slowed sharply in April with industrial production, retail sales and fixed asset investment all badly missing forecasts. Retail sales saw their slowest growth since May 2003.
US retail sales fell unexpectedly in April by 0.2%, as consumers cut back on spending. US industrial production also unexpectedly fell by 0.5% in April, the weakest in two years. Industrial production has now fallen three out of the last four months.
Our guests on today’s Money Talk are Mark To from the Wing Fung Financial Group and John Schofield of Apastron Investment. Later in the programme, we’ll get some forecasts for the commodity markets with George Cheveley, Portfolio Manager and Metals & Mining Specialist at Investec Asset Management.
16/05/2019 - 8:08 Business and Market Discussions
Mark To, Managing Director of Asset Management at the Wing Fung Financial Group, is pessimistic about whether the Chinese government's stimulus programme can bring about a rebound in the mainland economy.
John Schofield, Executive Director of Apastron Investment, comments that the reason behind US President Trump's six-month delay in imposing tariffs on auto imports is to avoid having too many enemies on the trade front, so he can focus his efforts on the dispute with China.
16/05/2019 - 8:22 Investec Asset Management : George Cheveley