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China’s Economy in October 2024: Retail Gains, Industrial Slowdown, and Exports Surge

2024-11-20
The National Bureau of Statistics (NBS) has released the trade and economic data for October 2024, reflecting a mixed economic outlook. Retail sales surged 4.8 percent, the highest since February 2024, buoyed by holiday spending and Singles’ Day promotions. However, industrial output growth slowed to 5.3 percent, missing expectations, and the property sector remains sluggish despite recent policy measures. Amid this backdrop, economists highlight the challenges of sustaining growth, particularly with rising global uncertainties. The return of Donald Trump as President-elect of the United States, who has threatened significant tariffs on Chinese imports, poses a potential headwind for China’s trade-dependent sectors.
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ASEAN Briefing

Company Deregistration in Vietnam: A Guide for Foreign Investors

11/20/2024

Deregistering a company in Vietnam is a multi-faceted process that requires meticulous planning and execution. For foreign investors, the process involves navigating Vietnam’s regulatory framework, addressing tax obligations, and settling various statutory requirements.

Middle East Briefing

Turkey Revised VAT Rates: Impact on Healthcare and Telecom Sectors

11/21/2024

Turkey recently revised VAT rates, reducing the tax on approved medical products and special-purpose foods to 10 percent, while telecom equipment faces a standard 20 percent VAT. These changes, effective from November 14, 2024, are expected to impact pricing and accessibility in the healthcare and telecom sectors, respectively.

India Briefing

Choking Growth: Air Pollution’s Economic Impact on Delhi

11/21/2024

Delhi, India’s national capital, is grappling with a worsening air pollution crisis that has significantly impacted the city’s trade and commerce. Business activities have reportedly declined by 20 percent, resulting in substantial financial losses, particularly for small and medium enterprises (SMEs) and seasonal businesses.

Vietnam Briefing

Vietnam’s Strategic Push into the Middle East Halal Market

11/21/2024

Vietnam is actively pursuing opportunities to expand its foothold in the global Halal market, which is projected to grow from US$2.4 trillion in 2024 to an astounding US$4.5 trillion by 2030.

ASEAN Briefing

Singapore’s CPF Special Account Closure: What to Expect in 2025

11/20/2024

In January 2025, Singapore’s Central Provident Fund (CPF) will close the Special Account (SA) for members aged 55 and above. This move will transfer SA funds to members’ Retirement Accounts (RA), up to the Full Retirement Sum (FRS) for their cohort, while any excess savings will go to the Ordinary Account (OA).

Middle East Briefing

UAE Federal Tax Authority Releases Guide on Corporate Tax (CT) Return: Key Obligation

11/21/2024

The UAE Federal Tax Authority (FTA) has published a guide on filing the corporate tax (CT) return, outlining procedural and reporting requirements. It includes step-by-step guidance on completing the CT return form and details the necessary disclosures across various schedules.

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ASEAN

Southeast Asia's Balancing Act in a Second Trump Presidency

11/20/2024

Learn how ASEAN can adapt to challenges and opportunities under the new US presidency. Insights into trade, investment, and resilience.

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Publications

China

Tax Digitalization in China: Impact on Corporate Tax Risk Management

11/22/2024

This article explores the impact of tax digitalization on businesses in China, emphasizing the evolving dynamics of tax risk management, particularly regarding data supervision.

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India

Choking Growth: Air Pollution's Economic Impact on Delhi

11/21/2024

Delhi, India’s national capital, is grappling with a worsening air pollution crisis that has significantly impacted the city’s trade and commerce, causing a 20 percent dip in business activities and severe financial losses for SMEs and seasonal businesses.

Jump to India:
Country Guide Portal
Publications

Vietnam

Temu Enters Vietnam’s E-Commerce Market: Takeaways for Newcomers

11/20/2024

Vietnam's e-commerce landscape witnessed the entry of Chinese e-commerce giant Temu in late 2024, drawing legal scrutiny. We discuss why authorities are paying close attention and offer strategic considerations for global online sellers and platform operators.

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Middle East

Middle East Briefing

Turkey Revised VAT Rates: Impact on Healthcare and Telecom Sectors

11/21/2024

Turkey recently revised VAT rates, reducing the tax on approved medical products and special-purpose foods to 10 percent, while telecom equipment faces a standard 20 percent VAT.

Jump to Middle East:
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