News and Reviews Asian Economic Zone

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Economists Stimulus BoJ Need Plus

Monday, April 6th, 2015

 

BoJ Governor Haruhiko Kuroda get a positive value of economists in its efforts to spur inflation Japan, but Prime Minister Shinzo Abe rated less than the maximum to boost the economic growth of Japan.

 

Survey of 33 economists in the US and Japan in commemorating 2 years Abenomics policy implementation, where Mr. Kuroda introduce radical monetary easing policy, supported by Mr. Abe to change the direction of deflation of prices, wages and spending levels continue to decline over the last 15 years.

 

Approximately ¾ economists give an A for Kuroda, while Shinzo Abe just get a report card B in assessing the performance of government officials to achieve the inflation target of 2%.

 

Although the value for Kuroda so high, but the survey of economists shows that the inflation target of 2% BoJ is still difficult to achieve due to the fall in oil prices beyond expectations. Therefore, about 40% of economists assess that the central bank needs to increase its stimulus in between the months of July to December this year.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Performance Survey, Report Card BOJ Governor Better than Prime Minister of Japan

Monday, April 6th, 2015

 

Japanese government and monetary institutions are working hard to accelerate the pace of the economy and increase inflation. The effect is yet to be seen however, businesses have their own judgment about the performance of two of the most influential people in the national economy, the Prime Minister and the Governor of the Bank of Japan.

 

According to 33 economists surveyed by the Wall Street Journal's media, the performance of Bank of Japan (BOJ), Haruhiko Kuroda, is still better than by the prime minister, Shinzo Abe. The survey was conducted as an evaluation of the economic acceleration even attempt lasted for 2 years since Abe was first sworn in as head of government. Both during this sharing role to bring Japan to the inflation target of 2%.

 

Survey period lasted from March 26 to April 1 2015 where each respondent are welcome to give value for Kuroda and Abe for its performance meet the inflation target. When asked how the performance Haruhiko Kuroda, as much as 3/4 of the respondents gave an A or B. In contrast when the same respondents were asked about Abe's performance, as much as 50% gives a value of C and only one person who gives A.

 

Economists who participated in the survey assessing Kuroda quite successfully execute the mandate of the central bank and only a small percentage who viewed Shinzo Abe is able to boost the economy with a variety of strategies. However, as much as 60% informants agree that the BOJ's monetary easing continued strategy and those who want a stimulus was stopped just a small part.

[mynameisandhy]

News and Economic Review Zone Asia

 

Visit Chinese, Japanese Finance Minister will Question Purpose Za'atar

Tuesday, April 7th, 2015

 

Delegation of Japan and China are scheduled to meet in June in Beijing. One of the central issues to be discussed is about the establishment of the Asian Infrastructure Investment Bank, led by China.

 

Plan a meeting of finance ministers from two different countries is not a strange thing. But it is so interesting because it occurred at a time when the relationship between China and Japan has been stretched about two years. In addition to the border conflict, supposedly Japan also want to question the reason for China to form a new creditor banks named Asian Infrastructure Investment Bank (AIIB) on October 24 last year. According to the Japanese Finance Minister, Taro Aso, to the media today, the Beijing initiative alarmed other countries.

 

Japan has so far not want to join the AIIB although conceptually, this bank was established for the benefit of the region. China's decision to form a new bank that is regarded as the delegitimation of the Asian Development Bank (ADB), which was established by Japan since the 1960s. However, politicians in the land of cherry advise the government in Tokyo to consider joining AIIB because it can be profitable. Although the deadline for joining has passed on March 31, China may not object to enter Japan as one of the founding members. Former Japanese Prime Minister Yasuo Fukuda, even asked Prime Minister Shinzo Abe to participate in AIIB structure and took part in the making of the rules in it. But the government has not taken any decision, and could be the result of two finance ministers meeting next June can change the mind Abe. The last time the two countries held a ministerial meeting in April 2012, just before the emergence of the issue of border disputes in the South China Sea.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Preserve the Bank of Japan Monetary Policy

Wednesday, April 8th, 2015

 

In the monetary policy meeting, which lasted for two days, the Bank of Japan decided to maintain the monetary base policy worth ¥ 80 trillion per year, a move that had been expected by many parties. But board members Takahide Kiuchi, proposes trimming monetary base to ¥ 45 trillion, but he just became the only member who proposed it, while eight other members chose not to change the policy.

 

BOJ also reiterated Japan's economic recovery is still running in moderation. For inflation, without taking into account the increase in the sales tax, is at 0% and will remain in that range in a few months due to the slump in oil prices earlier. BOJ in April 2013 and then, the BOJ said large-scale monetary stimulus will bring inflation to reach the target of 2% in two years.

 

Meanwhile, in a press conference today, BOJ Governor Haruhiko Kuroda, said the inflation target of 2% is likely to be achieved in the current fiscal year if oil prices showed a gradual rise. Kuroda also asserted will not hesitate to add monetary sitimulus if necessary

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Nikkei Passing Level 20000, Strengthening Weekly Record

Friday, April 10th, 2015

 

Japanese stock market, the Nikkei, past the 20,000 level for the first time in 15 years in early trading, but must be ended lower at the close. Although weakened, the Nikkei managed to record weekly gain of 2.4%. Expectations will naikknya earnings of Japanese companies due to a decrease in the exchange rate of the yen to be a factor behind the strengthening of the Nikkei this week. The market expects Japanese corporate earnings will rise 10% to 15% this year.

Japan's economy is also expected to further improve, the Governor of the Bank of Japan, Haruhiko Kuroda, optimistic inflation target of 2% will be achieved in the current fiscal year if oil prices showed a gradual rise. At this week's meeting of the BOJ's monetary policy also confirms the recovery of the Japanese economy is still running in moderation.

Expectations of profit growth and economic improvement made in capital inflows to Japan. Reports from Japan's Ministry of Finance showed foreign investors net buying of Japanese stocks worth $ 8.61 billion last week, becoming the largest since the beginning of April 2013.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Machinery Orders Reduced, Capital Expenditure still weak

Monday, April 13th, 2015

 

The level of Japan's core machinery orders, an indicator of the level of capital spending, fell during the second month in a row in February, signaling a weak level of business investment that could hamper the government's attempt to escape from the economic problems for some nearby. A monthly decline of 0.4% in machinery orders, which followed a number of other negative data, raises further doubts about the strong economic recovery after the recession last year. Data from the Cabinet Office on Monday compared with analyst estimates for a decline of 2.8% and following a decline of 1.7% in January.

 

The Japanese government relied on the increase of capital expenditure to be able to trigger a cycle of healthy economic growth through increased employment and wage levels, and the high consumption of private sector. Level of engine order is considered as an indicator of capital spending in the next 6-9 months, and the latest data will be assessed as a slowdown in business investment in the future. Analysts said that the decline in orders into partly a reaction to the sharp rise in December, according to the central bank's view that the level of capital expenditure is being restored gradually due to higher corporate profits. But the weak level of capital expenditure for the new fiscal year that began April 1 and, as seen in the Tankan survey, indicating that the level of business investment is likely to remain slow to recover from the slump after last year's sales tax increase.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Disappointing Chinese Commerce Data

Monday, April 13th, 2015

 

The country's exports fell by surprise in March, according to data on Monday, becoming worse warning for the first quarter GDP data to be released Wednesday. The level of exports fell by 14.6% from a year ago, according to data from the National Bureau of Statistics, due to weak global demand and the impact of the Chinese New Year. This figure compared with estimates for a gain of 12% and an increase of 48.3% followed in February. While the level of imports fell by as much as 12.3%, slightly worse than expected decline in sebsear 11.7% and 20.5% sebeasr following a decline in the previous month. The trade surplus for the month of March was 3:08 billion, well below the estimated 43.8 billion dollars.

 

March trade data will be an advanced focus as the first data that is typically not affected by the Lunar New Year, which tends to suppress the data in January and February. According to Tony Nash, vice president of the Delta Economics, the real issues in the Chinese trade data is due to the absence of revision. He said that the export figures by 45% last month too high and the current rate is too low.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

New loan level in China Exceeds Expectations

Tuesday, April 14th, 2015

 

The addition of new loans in China in March, higher than expected, but the money supply growth slowed for the same period. The increase in borrowing rates reflect the success of China's monetary easing policy at the beginning of the year to increase the pace of the world's second largest economy. Cutting interest rates make borrowing costs will be lower so that the prospective borrower is steadily applying for loans. Nevertheless, the growth of money supply lower than expected increase market speculation that the central bank will launch additional policies to support growth.

 

Chinese banks approved 1.18 trillion yuan of new loans, higher than the forecast of economists surveyed by Reuters that the addition of 1.03 trillion yuan, and the addition of 1.02 trillion yuan in February. While the supply of money in March rose 11.6% from a year earlier, lower than expected 12.3% rise and slower than the 12.5% ​​increase in February.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China rejects Taiwan Join AIIB for Special Reason

Wednesday, April 15th, 2015

 

On Monday, the government of Taiwan claimed that his application to become a member of the Asian infrastructure bank rejected by China. However, membership in the future is still possible if Taiwan wear 'other names' in the petition.

 

Problem 'name' is claimed to be an obstacle for Taiwan to join. As is known in various events and international forums, including the Olympics, Taiwan usually use the name 'Chinese Taipei' as the country's identity. This is thought to be the source of objection Beijing to accept Taiwan's membership.

 

The word 'China' does not only reflect the superiority of the largest economies in the Asian country. But also carry the memory of the history of the less well in the past. Chinese Taipei or Taiwan was once part of China that now stands, before finally separated in 1949 due to civil war. Beijing government wants only one 'China' in the international world, and Chinese Taipei is not a sovereign entity unless the government the name Taiwan.

 

Asian Infrastructure Investment Bank is a savings and loan bank established by China as a source of funding countries that need capital development. Its existence is considered by the United States and its allies as a means to expand China's influence, although in the end some of Washington's allies joined in, including the UK and Germany. Indonesia itself has joined AIIB since it was first established although absent at launch last year.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China's Growth Slows Become 7%

Wednesday, April 15th, 2015

 

China's economy grew at the slowest pace since the global financial crisis in the first quarter, according to government data on Wednesday, increasing the chance of additional stimulus from the government. Gross domestic product (GDP) expanded by 7% in the first quarter, according to data from the National Bureau of Statistics, according to Reuters estimates and following a 7.3% sebeasr growth in the previous quarter. This result is the lowest since the first quarter of 2009, when the peak of the financial crisis, in which the growth rate slowed to 6.6%. At the quarterly level, the economy grew by 1.3%, was slightly below estimates of 1.4% sebeasr and compared with 1.5% in the previous quarter.

 

Other data released in conjunction with GDP also were below expectations. Industrial output grew by 5.6% in March from a year earlier, worse than expected at 10.9%, while retail sales rose as much as 10.2% to an annual rate, below the estimate of 10.9%. Fixed asset investment in the first quarter rose as much as 13.5%, was below the estimated increase of 13.8%. The Australian dollar fell after the data was released, while the Chinese joint-stock index fell 0.2% sebeasr, and the index of Hong Kong trim the gain to enter the negative area.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

The level of foreign investment in China is still high in the First Quarter

Friday, April 17th, 2015

 

Foreign direct investment (FDI) in China rose by 2.2% in March, while capital outflow scored lower rise, as foreign corporate investors are still not disturbed by weak domestic economic performance. It brings foreign capital inflows rose 11.3% to 34.88 billion dollars for the first quarter. The data followed a number of disappointing data, including slowing domestic fixed asset investment, including property, and slowing industrial activity.

 

Projected foreign investment takes time to be understood and applied, making FDI into public sentiment indicators of late, but the level of FDI is still strong in recent months. Ministry spokesman Shen Danyang in March said the strong growth in the flow of foreign capital in the first 2 months of this year, including an increase of almost 874% for Saudi Arabia and 367% for France, is a one-way deal

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Try Overcome Slowdown, PBoC Back Crop RRR

Monday, April 20th, 2015

 

Central Bank of China on Sunday to cut the number of banks' capital reserves, the second cut in two months, adding to the amount of liquidity in the country's second largest economy in the world to help trigger rate on bank loans and overcome the slow growth. People's Bank of China (PBOC) cut the reserve requirement ratio (RRR) for all banks as much as 100 basis points to 18.5%, effective from 20 April, the central bank said in a statement on its website.

 

Although growth in the first quarter reaching government targets around 7% for 2015, a slowdown in a number of areas, including industrial output and retail sales have raised concerns, according to the Xinhua report related to the announcement. Trimming the latest, which is the deepest cuts since the global financial crisis in 2008, shows how the central bank continues its efforts to prevent a sharp slowdown in the economy.

Chen Kang, Shenwan Hongyuan Securities analyst, said that cuts more than expected. The action will be releasing at least trillions of yuan, he said. However, the latest RRR cuts are considered more defensive by some economists, especially for causing the increase in capital outflows that deplete the amount of money that berdar, making it more difficult to push down real lending rate. Nevertheless, China's banking sector has proved reluctant to increase the amount of credit, said that they were also seeking to maintain profitability and reduce the amount of bad loans, but their attitude that seems to make the Beijing frutrasi.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japanese Manufacturing Sector Sentiment Worsens in April

Tuesday, April 21, 2015

 

Sentiment among factories in Japan deteriorated for the first time in 3 months in April but sentiment improved service sector, according to a Reuters poll, underlined the economic recovery from the recession last year uneven. Reuters Tankan, which follows the quarterly Tankan survey of the Bank of Japan, following a number of recent poor indicators that have raised concerns about the recovery stabi on the country's third-largest economy in the world. The poll of 483 large and medium enterprises, which was answered by 266 companies on April 1 to 15, show companies anxious presence of weak demand at home and abroad. Participants poll also filed complaints about the cost of imported raw molar increased due to the weakening yen.

 

In awareness of companies in Japan contrast with the optimism of the central bank and the government, which saw the economy is in a moderate recovery path. While the manufacturing sector is depressed by the decline in global demand, the service sector sentiment soared to its highest level since June. Retailers managed release of pessimism for the first time since October in a signal the economy began to slowly recover post distressed by the impact of the sales tax increase last year.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japanese Trade Balance Back Surplus

Wednesday, April 22, 2015

 

The level of Japanese exports exceeded the level of exports in the month of March for the first time in nearly 3 years, providing support for the economy struggling with weak domestic demand. The trade surplus reached 229.3 billion yen (1.9 billion dollars), according to financial kementerikan on Wednesday, higher than the estimate of 44.6 billion yen. Japan fossil fuel imports surged after the Fukushima disaster in 2011 and triggered the closure of all nuclear reactors in Japan. More than 40% decline in oil prices in the last 12 months has been to cut costs, while weakening yen boosted the value of exports.

 

Toru Suehiro, economist at Mizuho in Tokyo, said that external demand will be a bright spot for the Japanese economy this year as the level of domestic consumption and capital investment is expected to remain weak. He added that exports are in the upside. Suehiro estimate the trade balance deficit will re-print in April and in 2015, said that the return to the surplus for the time being due to the reduced activity in Asia in February due to the Chinese New Year and a rebound in March.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Chinese Manufacturing Sector Activity Drops to Lowest Level in Year

Thursday, April 23, 2015

 

China's manufacturing sector activity fell to its lowest level in one year in April, according to a private survey on Thursday. HSBC PMI index released at 49.2, compared to the estimate of 49.6, and following the results in March at 49.6. Results below 50 signal a contraction in the sector.

At the end of last week, the People's Republic of China cut the minimum reserve requirement (RRR) of major banks. Pruning by 100 basis points to 18.5% was the biggest cuts since 2008, when the peak of the global financial crisis. The move is the latest step of a number of aggressive policy of the Chinese government to stop the further slowdown in the country's second largest economy in the world. China grew by 7% in the first quarter, according to the GDP data last week, the slowest pace in six years.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

Korean Consumers More Upbeat Post BOK Monetary Easing

Friday, April 24th, 2015

 

Consumer sentiment in South Korea increased in April, signaling the success of the central bank to boost Asia's fourth largest economy towards economic recovery. The Bank of Korea (BOK) reported the Consumer Sentiment Index (CSI), which hit a 104 in April, up from 101 the previous month's level. The results of the survey are above level 100 illustrates the tendency of optimism that more than pessimism.

 

Having dropped sharply in April last year following the sinking of the ferry, the monthly index has not shown consistency consumer expectations. The government's efforts to stimulate considered not capable of restoring consumer sentiment.

 

However, the BOK effort in March that cut interest rates to the lowest level of 1.75% managed to strengthen hope for economic recovery. BOK also added an increase in transactions in real estate and stock markets also membanutu encourage consumer sentiment.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japanese Manufacturing Sector PMI contracted in April

Friday, April 24th, 2015

 

Activity in the Japanese manufacturing sector contracted in April for the first time in nearly a year as the decline in the level of domestic demand and output, which can trigger anxiety loss of momentum of economic recovery in Japan. Japanese manufacturing sector PMI by Markit / JMMA fell to 49.7 in April from 50.3 in March, fell to below the 50 level that separates contraction and expansion for the first time since May last year.

 

An advanced level of new orders fell 48.5 from 49.4 in March, contracts for 2 months in a row and with a faster pace. Output index fell to 29.7 in April, the first contraction in 9 months. The index for new export orders fell to 51.0 from 52.0 in the previous month, but continued to expand as the weakening yen helped boost the price kompetitifitas Japanese exporters. PMI final Markit / JMMA for April will be released on 1 May.

Slowing activity in the manufacturing sector PMI index is still relatively small, but industrial output data the previous government have raised doubts about the strength of the corporate sector. Industrial output fell more than expected in February, and economists will see output data in March of next week to see if the output recovered.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Fitch Ratings downgrade of Japan Related Fiscal Policy

Monday, April 27, 2015

 

Fitch Ratings cut Japan's credit rating by 1 ranking after the government failed to take steps in this fiscal year's budget to dampen the impact of the delay sales tax increase, according to Fitch on Monday. Fitch cut its rating on Japan by 1 rating to A, which is ranked in the bottom 5 top pertingkat AAA. Japan's rating outlook remains stable.

 

Plans to cut corporate taxes to increase uncertainty about whether the government will earn sufficient income to cope with its debt burden, according to the Fitch statement. Last year, Moody's Investors Service cut Japan's credit rating to A1, which is one rank above the Fitch rating, due to the delay in the increase in sales tax.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Retail Sales Down 9.7% in March

Tuesday, April 28, 2015

 

Japanese retail sales fell at an annual rate of 9.7% in March, compared to growth of 11% was achieved by March 2014, when sales pushed massive purchases by consumers before the sales tax increase.

 

Economists had forecast retail sales of Japan will decline 7.3%, after posting a 1.8% decline in February.

The economy has received a hard blow as the shrinking consumer spending as a result of the increase in the consumption tax to 8%, which comes into force

 

April last year. A condition that eventually forced the government to postpone the increase in sales tax that was originally to be implemented in October this year.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Chinese officials denied the report on QE Program Plan

Wednesday, April 29, 2015

 

Related news on QE program plan, chief economist People's Bank of China Ma Jun has issued a rebuttal, saying that China's central bank does not plan to buy municipal bonds.

 

As quoted by Yicai.com, Ma Jun said the PBOC has had enough policy tools without having to prepare new measures as previously reported by Reuters, The Wall Street Journal and a number of other media.

 

On Tuesday, China's central bank reported yesterday preparing the most aggressive easing policy tool since they launched a massive stimulus plan in 2008 to fight the global financial crisis, in an effort to help one of the most important initiatives in the economic rescue

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Industrial Production Down 0.3% in March

Thursday, April 30, 2015

 

Japanese industrial production fell less below the forecast in March, sinyalkan some economic security in the country with the third largest economy in the world before the central bank meets to decide monetary policy.

 

Output fell by 0.3% from February, when output fell by 3.1%, according to a report from the ministry in Tokyo on Thursday. The median estimate of analysts surveyed indicate to decline 2.3%.

 

Bank chief Haruhiko Kuroda of Japan rely on strong growth to reduce sagging in the economy and trigger inflation, which has been retained by the decline in oil prices. Meanwhile 32 of 34 economists surveyed by Bloomberg expect the BOJ will refrain from adding stimulus at today's meeting, which mostly look for a boost at the end of October as Kuroda pursue an inflation target of 2%.

 

Analysts of one of the research institute said that the production of the report provide support for the Bank of Japan. But he also added that the production is still down when inventories increased, indicating manufacturing is not too strong

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Manufacturing activity in China Moving Stable In April

Friday, May 1, 2015

 

China's manufacturing index stabilized engaged in expansion territory in April, the data shown by the government on Friday.

 

Manufacturing purchasing managers index from the Chinese government to survive at the level of 50.1 in April, unchanged from the reading in March, said the China Federation of Logistics and Purchasing, which issues the data with the National Bureau of Statistics, in a statement.

 

April PMI index beat expectations for a reading at level 50 of the Wall Street Journal survey of the 11 analysts.

 

A PMI reading above 50 indicates expansion in manufacturing activity from the previous month, while a reading below 50 indicates contraction.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Automobile Sales Up 5% On Annual rate in April

Friday, May 1, 2015

 

Automotive sales in Japan which does not include small cars rose by 5% at an annual rate in April, industry data showed on Friday, the data reflects a sharp decline in demand from a year ago due to the increase in the consumption tax.

 

Japan Automobile Dealers Association said that total sales in the month of April amounted to 198.371.

 

In a separate report, the Japan Light Motor Vehicle and Motor Association said that the demand for small cars, the engine size of 660 cc or less, down 22.5% from a year ago.

 

Automotive sales, as measured Based on the registration of vehicles with government, monitored by economists since they are the first consumer spending are released every month.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Ugly Chinese Economic Data, Open Space for New Easing

Monday, May 4, 2015

 

Peoples Bank of China (PBOC) since the beginning of last year has been disbursed variety of stimulus to boost the performance of the national economy. But until the second quarter of 2015, government action has not shown satisfactory results. Results of the latest data show a decline in the manufacturing PMI in China's economy, particularly in the manufacturing sector. In the first quarter of this year, the pace of the economy weakened to a record low of 7% and is predicted to remain so until the next few quarters, unless there is a new strategy of the authorities. HSBC manufacturing PMI fell to its fastest pace in 13 months, down from 49.6 (March) to 48.9. The level of production is also stagnant, and the number of new orders down drastically due to weak domestic demand.

 

The export orders rose marginally. Unfortunately the low domestic demand led to price reductions and absorption of labor. Deflationary pressures still exist due to falling prices of goods produced and imported products. Most likely the poor release of the latest data will make the central bank more monetary policy mempelonggar.

 

The PBOC has cut the reserve requirement banks to multiply the velocity of money in the financial system. The loan interest is also trimmed, as well as the margin for the purchase of second homes from 60% to only 40%. If it is not enough, there are opportunities for further easing.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Selected as China Richest Man, Wang Jianlin Defeat Boss Alibaba

Tuesday, May 5, 2015

 

Bos company Dalian Wanda, Wang Jianlin, successfully straddled the founder of Alibaba, Jack Ma, in the list of richest people in Asia. With a fortune of $ 38.6 billion (Rp502,7 trillion), Wang also beat Hong Kong's famous tycoon, Li Ka-shing.

 

In Asian billionaires list released by Bloomberg News, Jack Ma just managed to occupy the 2nd position with a net worth of $ 34.9 billion, or one rank above the Li Ka-shing. Wang Jianlin also entered the top 10 in the list of richest people wide, under a sort of big names Bill Gates and Warren Buffett.

 

Wang is the owner of the company Dalian Wanda, whose business covers a wide range of sectors including real estate and entertainment. He also has a stake in US-based entertainment company, AMC Holdings. His wealth soared to 50% this year because of the money printing machines work optimally in the midst of the rapid growth of the domestic economy.

 

Not only that, the 60-year-old man is also investing in retail businesses, media outlets and tourism. The popular company Wanda Department Store and the China Times Media, in addition to other subsidiaries asset value reached billions of dollars. The value of wealth also increased thanks to the increase in the price of its shares. As is known, the Shanghai Composite Index surged 36% in 2015 and the Hang Seng Index rose 18%