The latest on China - UOB

Analysts at UOB explained the latest updates and news from China.

Key Quotes:

"China introduced a new indicator for the services sector to better track the vast range of activity from movies to restaurants that now account for more than half of the economy."

"The services output index rose 8.2%y/y in JanFeb on growth in technology, transportation, and logistics, compared to 8.1% in Dec 2016 and the same period in 2016. US Pres Donald Trump’s pick as top trade negotiator Robert Lighthizer said at the Senate Finance Committee confirmation hearing on Tuesday that China is one of America’s leading trade problems, but it’s not clear if the Asian nation is still manipulating its currency currently."

"The Trump administration is considering increased financial penalties on Chinese companies amid evidence that they’re supporting North Korea’s weapons programs, WSJ reported Wed."