Stocks Recover on Mainland Exchanges Easing in Global Monetary Policies May Spark Uptrend in Second Half, Say Experts
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CHINA DAILY | HONG KONG EDITION Wednesday, July 31, 2019 | 17 BUSINESS Stocks recover on mainland exchanges Easing in global monetary policies may spark uptrend in second half, say experts By ZHOU LANXU and “one or two small cuts” to interest SHI BAOYIN in Zhengzhou rates for the rest of the year given the easier stance of other central China’s A-share market ended banks worldwide, Weller said. higher on Tuesday, with the growth Many central banks from both enterprise-heavy ChiNext Index hit- developed and emerging markets ting a three-month top, as analysts such as South Korea, New Zealand, expect an easing in global monetary Australia, India and Russia had cut policies to spark an uptrend in interest rates to stimulate their own financial markets over the second economies and protect themselves half of the year. from downside risks. The benchmark Shanghai Com- Anticipation of the Fed’s move posite Index rose by 0.39 percent to stoked an advance on Tuesday in close at 2952.34 points on Tuesday, Asian shares. while shares on Shanghai’s Nasdaq- Japan’s Nikkei 225 index climbed A GAC Aion LX is displayed at a recent car exhibition in Shanghai. PROVIDED TO CHINA DAILY like STAR Market extended gains as 0.43 percent to 21,709.31 points, and they rose 3.55 percent on average. South Korea’s Kospi gained 0.45 The growth enterprise-heavy percent to 2038.68 points. ChiNext Index on the Shenzhen Easier global monetary policies, a Stock Exchange went up 0.87 per- strengthening in China’s policy GAC unveils intelligent driving ecosystem cent to close at 1580.13 points on measures to stabilize growth and a Tuesday, the highest close since the reduction in the diversion of funds end of April. The Shenzhen Compo- to the STAR Market should inspire a By QIU QUANLIN square meters and more than 45 enable new EVs to run more than nent Index added 0.48 percent to rally of the whole A-share market in in Shenzhen, Guangdong 577,000 billion yuan ($6.54 billion) in 600 kilometers on a single charge. settle at 9399.1 points. the year’s second half, a report from [email protected] units investment, the industrial park The intelligent connectivity and “As a result of easier global mone- CITIC Securities said. sales of new energy cars in includes manufacturing, core auto smart driving ecosystem will be tary policy, we believe that equities Insurers, trust companies and GAC Group, a major automobile China in the first five months parts and leading technological installed in GAC’s new electric will remain in an uptrend (in the financial shares led the rise on maker in Guangdong province, has of this year research for new energy cars, the model Aion LX, which will be put second half of the year),” said Matt Tuesday after the country released unveiled an intelligent and inter- company explained. into production in September this Weller, global head of market com- plans to facilitate debt-for-equity connected driving ecosystem to Construction of the first phase of year, Gu added. mentary at Gain Capital. swaps to contain corporate debt facilitate its development in the of the GAC Group. the park, with a designed produc- “The ecosystem will make driv- For Chinese stocks particularly, leverage levels. booming new energy vehicle sector. The development of intelligently tion capacity of 400,000 units of ing more intelligent and connect- progress in the Sino-US trade talks Consumer stocks posted steady The innovative ecosystem ADiGo connected new energy vehicles will vehicles, was completed at the end ed, giving customers a safe driving is also an important factor to watch, gains. developed in collaboration with become a major business growth of 2018. experience,” the GAC official said. he added. Liquor maker Kweichow Moutai internet giants Tencent Holdings driver for the company, the official Gu Huinan, general manager of Gu said the 5G technology would China and the United States kick- Co Ltd rose by 0.26 percent to close Ltd and Huawei Technologies said. GAC New Energy Automobile Co facilitate auto driving and intelli- ed off a new round of trade negotia- Tuesday at 978.93 yuan, while Hen- includes a system of automatic driv- “The automatic driving and Ltd, a subsidiary of the GAC Group, gent connectivity in vehicles. tions in Shanghai on Tuesday. an Shuanghui Investment & Devel- ing and intelligent connectivity with intelligent connectivity systems said the company has established “Auto driving and intelligent con- Market attention was also focused opment Co Ltd, which had acquired subsidiary systems of cloud comput- will become a real smart driving its second generation of electric nectivity will go beyond our expec- on the two-day meeting of the US US-based global pork processor ing and big data, the company said. service provider for our customers,” vehicle manufacturing, known as tations, following the wide use of Federal Reserve that begins in the Smithfield Foods some years back, “The ADiGo ecosystem is of great said Feng. the GAC Electric Platform. 5G technology,” said Gu. US on Tuesday. added 0.25 percent to finish at 24.39 importance to GAC’s future devel- Early in 2017, GAC began construc- “Building new energy vehicles is Sales of new energy cars in China Global investors widely expect the yuan. opment. The group is moving into tion of a large industrial park for new not simply putting batteries into reached 577,000 units in the first Fed to announce a 25-basis-point becoming a mobile driving service energy and intelligent vehicles in the traditional fuel cars. The electric five months of 2019, a year-on-year interest rate cut at the end of its Chen Jia contributed to the story. provider and transforming into an Panyu district of Guangzhou, capital platform will enable us to develop increase of 66 percent, the China meeting on Wednesday. intelligent automobile manufac- city of Guangdong province. real new energy cars,” said Gu. Association of Automobile Manu- The People’s Bank of China, the Contact the writers at turer,” said Feng Xingya, president With an area of about 5 million The GAC electric platform will facturers said. country’s central bank, may allow [email protected] NOTICE OF CREDITORS' MEETING NOTICE OF CREDITORS' MEETING IN THE HIGH COURT OF THE HONG KONG IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION SPECIAL ADMINISTRATIVE REGION COURT OF FIRST INSTANCE COURT OF FIRST INSTANCE BANKRUPTCY PROCEEDINGS BANKRUPTCY PROCEEDINGS INTERIM ORDER APPLICATION INTERIM ORDER APPLICATION NO. 287 OF 2019 NO. 280 OF 2019 Re: Cheung Hau Yee, Debtor Re: Chu Ho Yin Christopher, Debtor NOTICE is hereby given that the Creditors' Meeting NOTICE is hereby given that the Creditors' Meeting summoned by interim order made on 19th July 2019 summoned by interim order made on 19th July 2019 to consider the proposal for a voluntary arrangement to consider the proposal for a voluntary arrangement of the above-named debtor will be held at the office of the above-named debtor will be held at the office of IBC Solutions Limited, Room 516, Tower A, of IBC Solutions Limited, Room 516, Tower A, New Mandarin Plaza, 14 Science Museum Road, New Mandarin Plaza, 14 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong on 15th Tsim Sha Tsui East, Kowloon, Hong Kong on 15th August 2019 (Thursday) at 9:30a.m. August 2019 (Thursday) at 10:00a.m. Bona fide Creditors can obtain a copy of (i) the Bona fide Creditors can obtain a copy of (i) the Debtor's Proposal; (ii) the Statement of Affairs; (iii) Debtor's Proposal; (ii) the Statement of Affairs; (iii) the Nominee's Report and Comments; (iv) Proxy the Nominee's Report and Comments; (iv) Proxy form; (v) a Notice of Claim form; and (vi) any other form; (v) a Notice of Claim form; and (vi) any other notes and notices from the office of IBC Solutions notes and notices from the office of IBC Solutions Limited, Room 516, Tower A, New Mandarin Plaza, Limited, Room 516, Tower A, New Mandarin Plaza, 14 Science Museum Road, Tsim Sha Tsui East, 14 Science Museum Road, Tsim Sha Tsui East, Kowloon, Hong Kong. Kowloon, Hong Kong. Dated this 31st July 2019. Dated this 31st July 2019. Ng Kin Hung, CPA Ng Kin Hung, CPA Nominee Nominee Giving program lift Call of the wild AVIC subsidiary welcomes pilots, Nature photographer uses work to advocate for crews to customer service center preservation of endangered animals PEOPLE, PAGE 10 IMAGE, PAGE 12 CHINADAILY FRIDAY, May 3, 2019 www.chinadailyhk.com HK $8 Diving in with both feet SinoUS talks on trade seen Hong Kong as productive Negotiators from two sides aim to meet next week in Washington to continue By ZHONG NAN, REN XIAOJIN a professor of international trade and JING SHUIYU at the University of International Business and Economics in Bei News Awards VicePremier Liu He, US Trade jing. Representative Robert Lighthizer James Collins, CEO of Corteva and Treasury Secretary Steven Mnu Agriscience, the agricultural divi chin met in Beijing from Tuesday to sion of USbased DowDuPont, said Wednesday for the 10th round of he hopes the two countries will trade talks between China and the reach a positive resolution, to bene United States. fit both countries and the rest of the The two sides are working on put world. Collins said his firm was “not ting bilateral trade on a stronger so much affected” in the short term footing, and the latest meetings by ChinaUS trade tensions. were productive, Mnuchin wrote on The company will consider add Inside his Twitter account, without giving ing employees, research and field details.