China should encourage its banks to support smaller, private firms in the real economy, rather than forced lending or policies such as quantitative easing, a state newspaper quoted a central bank official as saying on Saturday.
China’s trade engine likely remained stuck in reverse in January, with imports and exports expected to fall for the second month in a row, adding to concerns the economy may be at risk of a sharper slowdown.
China plans to set a lower economic growth target of 6-6.5 percent in 2019 compared with last year’s target of ‘around’ 6.5 percent, policy sources told Reuters, as Beijing gears up to cope with higher US tariffs and weakening domestic demand.
Singapore’s economy likely maintained a steady pace of growth in the fourth quarter as the manufacturing sector outperformed forecasts, but simmering trade tensions between the US and China could slow the momentum next year.
British advertising group WPP has announced it plans to spend £300 million (€331 million) and cut 2,500 jobs over the next three years to return the world's biggest advertising group to growth by reducing the number of agencies it runs and hiring more talent in New York.