Chinese shares witnessed sharp surge on Tuesday, with the benchmark Shanghai Composite Index edged up 2.58 percent, closing at 2,925.72.
The Shenzhen Component Index picked up 3.74 percent, closing at 9,037.67.
The ChiNext Index, China’s NASDAQ-style board of growth enterprises, rose 3.91 percent to 1,487.35 points.
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Four research vessels set out simultaneously on Monday for different seas in Chinese territory, aiming to collect marine research data.
Scientists hope the research can provide support for ecological protection of offshore areas as well as disaster prevention and reduction.
Research vessel Chuangxin 1 left Yantai in Shandong province for the Yellow River Estuary which flows into the Bohai Sea. Kexue 3 and Chuangxin 2 departed from another Shandong city, Qingdao. Kexue 3 is headed to both the Yellow and South China seas, while Chuangxin 2 made its way to the Yangtze River Estuary, which flows into the East China Sea. The Shiyan 2 left Guangzhou, Guangdong province, for the Pearl River Estuary and then the South China Sea.
“It is a fresh attempt to place four vessels on different seas in Chinese territory at the same time,” said Li Chaolun, deputy director of the Institute of Oceanology of Chinese Academy of Sciences.
“Data to be gained during the exploration are expected to be more meaningful and comprehensive since they cover a wide range of sea areas at a certain period,” said Li.
It has been a long-held ambition of marine scientists to have multiple vessels collecting data at the same time in different locations. Previously, offshore exploration depended on journeys by a solo vessel moving from one sea to another, which meant differing sea and climate conditions, Li added.
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During the expeditions, the four vessels plan to carry out multidisciplinary investigations at 153 spots, especially in the Yangtze and Pearl River estuaries, where human activities have had a strong impact on the marine environment.
Fan Chonghui, the chief scientist on Kexue 3, said one of his team’s tasks is to collect and analyze data on green algae which has frequently appeared in huge blooms in the Yellow Sea’s coastal waters during summer.
The ongoing research is part of the “Health Ocean” project, to be implemented under the Center for Ocean Mega-Science, led by CAS Institute of Oceanology.
The institute’s director, Wang Fan, said research on the ecology of coastal waters depends on observation and analysis, and it’s necessary to build an offshore observation network to gain real-time and continuous data.
He added the new center, which is in the pipeline, aims to bring together facilities and researchers from 13 domestic marine institutes to make innovative contributions to China’s marine studies.
“The new center is expected to include 10 research vessels and we will find better ways to manage them,” added Wang.
BANGKOK – Thai King Maha Vajiralongkorn has formally appointed Prayut Chan-o-cha as prime minister.
The Royal Gazette on Tuesday publicized the royal appointment of Prayut as prime minister after he was voted for the top post of government in a joint house-senate meeting last week.
A total of 500 MPs and senators voted Prayut for prime minister, compared to 244 votes for Future Forward Party leader Thanathorn Juangroongruangkit.
Prayut has retained his power under solid support from a 19-party alliance led by the Palang Pracharath Party, following the March 24 election. He has yet to set up a maximum of 36 cabinet ministers including himself.
Upon the royal appointment, Prayut released a statement to assure that he will listen to the voice of the people while fulfilling his duty of eradicating corruption, reducing inequality and elevating the welfare of the people, especially those in agricultural and commercial sectors.
He thanked the Thai monarch for appointing him as prime minister and all senators and MPs for giving him the opportunity to continue to serve the country and people and bring about prosperous and sustainable development in all aspects.
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The property market on the Chinese mainland cooled off in May after a torrid performance earlier in the year, due to increased regulatory intervention, experts said.
Zhang Dawei, chief analyst of property consultancy Centaline, said May witnessed a calm market and the trend seems to have continued during the three-day Dragon Boat holiday this month.
“The overall traded volume in May in first and second-tier cities dropped by 2 percent compared to April,” Zhang said.
Despite it being a traditionally busy time for the property market, the reaction from house buyers in the country was not as fervid during the three-day holiday as the enthusiasm in March and April did not spill over into May.
Data from Centaline Property showed the size of newly built property in Shanghai during May fell by 37.9 percent to 687,000 square meters compared to April. It was the second time so far in 2019 that Shanghai has experienced such a fall since February.
The data showed that in the first two days of Dragon Boat festivities, only four newly built properties were sold in Beijing, down by half from the same period last year.
The pre-owned property sector also cooled off.
The Beijing Municipal Commission of Housing and Urban-Rural Development said 13,764 properties sold were recorded to their office, a 4.7 percent drop compared to April and a 24 percent decline from year-ago figures. Most major cities saw a cooling property market in May and during the Dragon Boat holidays.
A few cities such as Wuxi in Jiangsu province defied the trend. The city sold 667 properties during the three-day break, the local bureau’s data said.
Property consultancy E-house China R&D Institute said in a report released on June 6 that 40 major cities in China saw a 3 percent decline for the month of May in the number of newly built property sold.
The cooling market was because of regulatory policies which took effect in April to curb an overheating market in the spring, the experts explained.
“Since the second half of April, some cities have again tightened their house purchasing restrictions,” said Zhang. “Also, supplies of property in the market in May have shrank, such as Shanghai, as the available size supplied to the market was reduced by 37.9 percent from April.”
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Centaline’s data showed that 41 regulatory interventions were made nationwide in May.
The Ministry of Housing and Urban-Rural Development rang the alarm bells for the cities of Foshan, Suzhou, Dalian and Nanning in May, after their property prices soared compared to the previous months.
Nanning’s number of properties sold during the holiday fell by 56.75 percent compared to the same period last year, the local bureau’s data said. Foshan saw a 70 percent drop in newly built property compared to those seen in the last Dragon Boat Festival.
E-House researcher Shen Xin predicted that regulatory factors will mean that trade property volume will keep shrinking in the 40 major cities of China in the first half of 2019 and the trend in the second half of the year will likely continue.
“The first-tier cities have seen two years of a calm market, thus the number is likely to bounce back in the future. But the second-tier ones in East China are expected to see further cooling,” Shen added.
The 23-year-old does not want to field any more questions about a potential move to the German giants, but he failed to commit to Manchester City
Manchester City star Leroy Sane shut down questions about Bayern Munich’s interest in him while on international duty with Germany and offered a cryptic response over where his future lies.
Sane scored Germany’s final goal in Tuesday’s 8-0 Euro 2020 qualifying demolition of Estonia in Mainz, impressing throughout in attack.
The winger had an indifferent season at club level with Premier League champions City, scoring a respectable 10 goals and making 10 assists, but only starting 21 matches, six fewer than the 2017-18 campaign.
Sane subsequently emerged as a primary target for Bayern, whose rebuild job will continue in the close-season after the departures of long-serving duo Franck Ribery and Arjen Robben.
Bayern president Uli Hoeness confirmed the club’s interest last month and CEO Karl-Heinz Rummenigge said they are ready to open talks over a summer move, saying: “We’ll try it. But I can’t promise whether it will be a success”.
Since then, however, Hoeness has bemoaned City’s “insane” valuation of the winger and Goal reported recently that the Premier League champions are trying to convince him to extend his contract, with two years to go on his current one.
But Sane failed to commit to Pep Guardiola’s side post-match when asked about the Bayern speculation.
He told reporters: “I’m going on holiday now. Everything else will be seen. That’s it with the questions about Bayern Munich.”
While Sane has remained quiet on the rumours surrounding his future, his Germany team-mates have been happy to discuss it.
Bayern Munich duo Serge Gnabry and Joshua Kimmich have said they would be happy to see Sane turn up at the Bavarian club, but his City co-star Ilkay Gundogan does not expect him to leave England just yet.
Meanwhile, Julian Draxler says he is unsure what his fellow ex-Schalke star will decide, but admitted that the players have been teasing Sane about the speculation.
On the other hand, former Germany and Bayern hero Lothar Matthaus is convinced that a move is on the cards, as he wrote in a column last month: “A player who, in my eyes, will enchant the Bayern fans next year is Leroy Sane. I am sure he will move to Munich.”
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The PSG forward struck brought up his century for both club and country with the opener in a comfortable win for Les Bleus on Tuesday
Kylian Mbappe scored the 100th goal of his senior career as he opened the scoring for France in their win over Andorra.
Mbappe raced clear in the 11th minute of the Euro 2020 qualifier, lifting a delicate finish over the onrushing Josep Gomes to get Les Bleus up and running.
And it was a milestone strike for the 20-year-old, who brought up a century of goals for club and country before then turning provider for Florian Thauvin to put France 3-0 up at the interval after Wissam Ben Yedder had doubled their lead.
Kurt Zouma added a fourth for Didier Deschamps’ on the hour mark to make sure of the result.
In his 180 senior games, Mbappe has netted 87 times in all competitions across two seasons each with Monaco and Paris Saint-Germain, with Tuesday’s goal his 13th on the international stage.
And the youngster has been even more prolific over the last year.
He netted four times for France at the World Cup in Russia last summer, finishing two behind the tournament’s top scorer Harry Kane and level with team-mate Antoine Griezmann and Portugal star Cristiano Ronaldo.
Mbappe followed that by finishing as Ligue 1’s top scorer last season, racking up 33 goals for PSG, 11 better than Nicolas Pepe of Lille who finished in second.
But Tuesday’s showing comes off the back of a rare poor showing for both Mbappe and France.
A 2-0 loss against Turkey on Saturday saw them hit a 10-year low by not recording a single shot on target.
In the process, Mbappe had his worst game for his nation, giving the ball away 22 times on the night.
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But the positive response against Andorra, coupled with Turkey’s loss to Iceland on Tuesday, saw France move back top of Group H on goal difference.
They’ll be back in qualifying action on September 7 as they look to book their place at the 2020 European championships.
Chinese apps are tasting success in emerging markets globally as leading domestic internet firms are expanding their footprint overseas, with a particular focus on economies participating in the Belt and Road Initiative.
Chinese mobile app publishers have gained momentum in Asian economies with user bases expanding significantly in areas like e-commerce, social media and entertainment, according to mobile analytics company App Annie.
BRI countries and regions accounted for 64 percent of downloads of Chinese apps outside China last year, up 58 percent.
A Cheetah Global Lab report also suggested Chinese app publishers are exploiting opportunities to beef up their overseas presence, especially in BRI-related economies.
“The popularity of smartphones worldwide and the rising demographic dividends of emerging internet sectors in high-population regions such as Brazil, India and Southeast Asia will offer unprecedented business chances,” the report noted.
Chinese on-demand service platform Meituan is a shining example. With increasing number of Chinese tourists visiting BRI-related countries and regions, Meituan connects Chinese spending power with local merchants.
Meituan, whose businesses span food delivery, hotel bookings, travel, entertainment ticketing and ride-sharing, is helping foreign merchants in such sectors to attract Chinese tourists, which directly helped increase its revenue.
Also, the Chinese app is leveraging advanced technologies including big data to help merchants in BRI economies in analyzing their operations and bolster their competitiveness.
By mid-April, Meituan covered 4.23 million merchants in 380 cities in countries and regions participating in the BRI, according to company data.
“As China’s demographic dividend is disappearing gradually, increasing number of Chinese firms are seeking opportunities in the global markets, especially the emerging markets with huge growth potential,” said Duan Wei, founder and chief executive officer of Mobvista, a leading Chinese mobile marketing platform.
“Games and tools were among the most popular app categories in the overseas markets in the past. But now, we’re seeing more apps generating revenue by offering content.”
Vigo Video, the overseas version of Chinese short video app Huoshan Video, has topped Brazil and Indonesia’s Google Play software store in terms of downloads, three months after taking its offerings outside of China.
This follows Tik Tok, an overseas iteration of short video app Douyin of Beijing-based Bytedance Technology Co Ltd. It has tasted success in Thailand and Japan quickly after its forays into those markets.
Bytedance data showed it has enrolled over 100 million content creators across Southeast Asia, Europe and the United States.
Ma Shicong, a new media analyst at consultancy Analysys, said Southeast Asia is a gold mine for Chinese short video apps, thanks to a massive number of local young people who are eager to exploit the era of mobile internet.
“Short video is also proving to be the next global trend in terms of mobile entertainment services. This can be good for Chinese players as they are already strong in technologies, including artificial intelligence and big data,” Ma said.
In terms of online mobile payments, Ant Financial, the online payment subsidiary of Alibaba Group, has also gained traction in BRI-related countries and regions.
“China has already succeeded in e-commerce and digital economy. Such experiences can be replicated in BRI economies,” said Jing Xiandong, Ant Financial’s executive chairman.
By now, the Chinese platform has cooperated with Paytm in India, Kakao Pay in South Korea, Dana in Indonesia and Easypaisa in Pakistan to serve users with its app in those foreign markets.
While Chinese apps are gaining traction in overseas markets, a string of challenges remain to be tackled, said Dai Bin, App Annie’s country director for China.
“Short video apps, for instance, have to innovate to meet the growing demand for fresh forms of entertainment in those countries. Also, they need to transcend cultural barriers.”
Dai said it is not easy to enter a new foreign market. Localization is very important for those apps to facilitate their services.
“Chinese providers are expected to differentiate themselves from apps in those emerging markets to succeed. Newcomers should also avoid countries and regions that are already dominated by others who reached there earlier.”
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BEIJING – China’s lunar rover Yutu-2 has driven 212.99 meters on the far side of the moon to conduct scientific exploration on the virgin territory.
Both the lander and the rover of the Chang’e-4 probe switched to its dormant mode for the lunar night late on Sunday (Beijing time), according to the Lunar Exploration and Space Program Center of the China National Space Administration.
China’s Chang’e-4 probe, launched on Dec 8, 2018, made the first-ever soft landing on the Von Karman Crater in the South Pole-Aitken Basin on the far side of the moon on Jan 3.
A lunar day equals 14 days on Earth, a lunar night the same length. The Chang’e-4 probe switches to dormant mode during the lunar night due to lack of solar power.
During the sixth lunar day of the probe on the moon, the scientific instruments on the lander and rover worked well, and about 1,654 MB of scientific detection data were sent to the core research team for analysis.
As a result of the tidal locking effect, the moon’s revolution cycle is the same as its rotation cycle, and the same side always faces Earth.
The far side of the moon has unique features, and scientists expect Chang’e-4 could bring breakthrough findings.
The scientific tasks of the Chang’e-4 mission include low-frequency radio astronomical observation, surveying the terrain and landforms, detecting the mineral composition and shallow lunar surface structure and measuring neutron radiation and neutral atoms.
Using data obtained by the visible and near-infrared spectrometer installed on Yutu-2, a research team led by Li Chunlai, with the National Astronomical Observatories of China under the Chinese Academy of Sciences, found that the lunar soil in the landing area of the Chang’e-4 probe contains olivine and pyroxene which came from the lunar mantle deep inside the moon.
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The discovery, recently published in the academic journal Nature, could help unravel the mystery of the lunar mantle composition and the formation and evolution of the moon and Earth.
The Chang’e-4 mission embodies China’s hope to combine wisdom in space exploration with four payloads developed by the Netherlands, Germany, Sweden and Saudi Arabia.
China saw a total of 95.98 million domestic tourist trips made during the three-day Dragon Boat Festival holiday, up 7.7 percent from the same period last year, according to the Ministry of Culture and Tourism.
Tourism revenue reached 39.33 billion yuan (about $5.7 billion) during the holiday which lasts from Friday to Sunday, up 8.6 percent year-on-year, according to the ministry.
Various activities staged across China to celebrate this year’s Cultural and Natural Heritage Day, which fell on Saturday, also attracted a large number of tourists, according to the ministry.
Trips to coastal cities surged during the holiday, said the ministry.
Chinese people’s real estate investment overseas hit a new low last year as their selloffs increased, a recent report from property consultancy CBRE showed. However, Chinese buyers increased purchases of homes located near famous educational institutions overseas.
Chinese investors spent $7.5 billion on buying offshore realty in 2018, sharply down from $35.4 billion in 2017. They were net sellers of real estate in the second half of 2018.
Asia-wide, outbound real estate investment was down 36 percent year-on-year to $53.8 billion in 2018, according to the 2018 Outbound Investment Survey.
Coupled with a decline in offshore investment, Chinese investors were found to be net sellers to strengthen balance sheets and recycle capital for deployment in future outbound investments, the report said.
“The pullback from China’s investors was not entirely unexpected but encouragingly created opportunities for new strategic investors to amplify offshore investment activities,” said Leo Chung, associate director of research for Asia-Pacific CBRE.
The 2019 Outbound Investor Intention Survey released by Cushman & Wakefield Research, echoed CBRE’s findings.
According to the survey, due to factors including weakening Chinese investor sentiment, tightened policy control and growing economic headwinds, outbound real estate investment from the Chinese mainland declined 63 percent year-on-year to a four-year low in 2018.
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The top three overseas real estate investment destinations are Hong Kong ($9.5 billion), the US($2.3 billion) and Australia ($1.3 billion) respectively, data from Real Capital Analytics and Cushman & Wakefield Research indicated.
Despite ongoing US-China trade frictions and Brexit uncertainties, the US and the UK ranked top and third respectively in terms of sentiment, with countries and regions related to the Belt and Road Initiative taking the second position, according to the Cushman & Wakefield survey.
“Survey results, particularly on sentiment by destinations, views on renmibi (Chinese yuan) appreciation and global gateway property prices have shown the Chinese mainland’s real estate investment overseas is becoming more prudent and selective under the guidance of the government investment policies,” said Jason Zhang, head of China outbound investment and advisory services, Cushman& Wakefield.
“Chinese overseas homebuyers used to be known for spending big bucks, fast decisions. But in recent years, most of them preferred to slow down and make decisions by comparing various choices. It usually takes between six months and two years for a client to find a house as per his or her requirements,” said Jamie Mi, head of international at Kay& Burton, a high-end real estate agency in Melbourne.
Thailand, Australia, the US, Canada, the UK, Malaysia, Japan, New Zealand, Greece and Vietnam are the top 10 countries that generated enquires about properties in 2018, according to Juwai, a Shanghai-based online platform that Chinese buyers use to buy overseas property.
Japan has emerged as one of the most popular markets for Chinese buyers, said Alex Yueng, founder and director of Century21 Culture Center Property Ltd.
“Investors are buying properties in Japan for various reasons, including stable returns, freehold, education, high-quality healthcare services and social welfare,” said Yueng. The company, he said, received increased number of enquiries about properties in Japan.