The Wild Wild East 05 September

Property

Foreigners underpin Melbourne's land boom

AFR, 28 August 2018

Immigrants are underpinning Australia's largest house and land market, with more than 65 per cent of second-quarter greenfield land sales in Melbourne to buyers born outside Australia, figures from consultancy Oliver Hume show.

https://www.afr.com/real-estate/foreigners-underpin-melbournes-land-boom-20180828-h14lqt

 

Westpac first big Australia lender to raise mortgage rates

Business Times, 29 August 2018

[SYDNEY] Westpac Banking Corp raised its key mortgage rate, the first of the nation's biggest banks to decide passing on higher funding costs is worth the risk of further reputational damage.

https://www.businesstimes.com.sg/real-estate/westpac-first-big-australia-lender-to-raise-mortgage-rates

 

Sydney, Melbourne office markets head to peak on hot offshore demand

The Australian, 31 August 2018

Two of Australias best known office blocks have been put up for sale this week, Sydneys Chifley Tower and the new development around ...

https://www.theaustralian.com.au/business/property/sydney-melbourne-office-markets-head-to-peak-on-hot-offshore-demand/news-story/7df961ab23d852c248f0bfd0df1818a8

 

 

Currency & Financial

Australian shares fall on fear U.S.-China trade fight to worsen; NZ down

Reuters, 31 August 2018

Aug 31 (Reuters) - Australian shares fell on Friday, as investors feared an escalation in U.S.-China trade frictions and sold telecom shares that advanced a day earlier on a merger deal announced by TPG and Vodafone’s Australian unit.

https://www.reuters.com/article/australia-stocks-close/australian-shares-fall-on-fear-us-china-trade-fight-to-worsen-nz-down-idUSL3N1VM2ZB

 

Northern Territory seeks to woo China on business visit

AFR, 31 August 2018

While the federal government has taken a guarded position when it comes to Chinese investment in Australia, the Northern Territory says it will welcome the nation's biggest trading partner with open arms.

https://www.afr.com/news/policy/foreign-investment/northern-territory-seeks-to-woo-china-on-business-visit-20180831-h14rvj

 

Bubs Australia Ltd (ASX:BUB) shares climb higher on China deal

The Motley Fool, 31 August 2018

After a slow start to the day, in afternoon trade the Bubs Australia Ltd (ASX: BUB) share price has pushed higher.

https://www.fool.com.au/2018/08/31/bubs-australia-ltd-asxbub-shares-climb-higher-on-china-deal/

 

Virgin investor HNA cuts debt, eyes more asset sales

AFR, 02 Sep. 2018

Even though HNA has managed to reduce one of China's biggest debt piles by selling off dozens of assets, the embattled Chinese conglomerate will probably need to get much slimmer before regaining the trust of investors.

https://www.afr.com/news/world/asia/virgin-investor-hna-cuts-debt-eyes-more-asset-sales-20180902-h14tza

 

 

Agriculture

Tariff elimination to boost Australian cherries in China, says importer

Fresh Fruit Portal, 31 August 2018

Australian cherries are set to benefit from the elimination of tariffs in the Chinese market from the start of next year, according to one importer.

https://www.freshfruitportal.com/news/2018/08/31/zero-tariff-to-boost-australian-cherries-competitiveness-in-china-says-importer/

 

Barossa Valley vineyards and wineries attract Chinese investors ...

Adelaide Now, 31 August 2018

Chinese investors have splashed out close to $37 million on Barossa ... swathes of prime real estate across the state's premier wine regions.

https://www.adelaidenow.com.au/business/sa-business-journal/chinese-investors-have-splashed-out-close-to-37-million-on-barossa-valley-real-estate/news-story/5120d89f7ba0f478e68c757e78da96aa

 

 

Resources

Coronado Coal prepares for $1b IPO

The Australian, 28 August 2018

US private equity firm Energy and Minerals Group (EMG) is planning an A$1 billion initial public offering of Australia's Coronado Coal, two people with knowledge of the plan say.

https://www.theaustralian.com.au/news/latest-news/coronado-coal-prepares-for-1b-ipo/news-story/6c2859ebb3ba0c7f11865b897245423b

 

 

Retail & Tourism

UPDATE 2-Australia's Blackmores profit jumps as China-direct strategy boosts sales

Reuters, 28 August 2018

SYDNEY, Aug 28 (Reuters) - Australian vitamin maker Blackmores Ltd said on Tuesday annual net profit jumped nearly a fifth, sending its shares up the most in 10 months, as a strategy of sidestepping Chinese shopping agents and selling direct to the mainland paid off.

https://www.reuters.com/article/blackmores-results/update-2-australias-blackmores-profit-jumps-as-china-direct-strategy-boosts-sales-idUSL3N1VI5ML

 

Steps to Register a WeChat Official Account Under an Overseas Business Entity

China Skinny, 28 August 2018

Tencent recently made a change that allows overseas business to set up their own WeChat Official Account(s) to reach mainland Chinese WeChat users. It doesn’t allow WeChat Pay or APIs yet, but it has the core WeChat features. 

http://www.chinaskinny.com/blog/register-overseas-wechat-account/

 

UPDATE 2-China sales approval delay hits Australia infant formula firm Bellamy's outlook

Reuters, 29 August 2018

SYDNEY, Aug 29 (Reuters) - Infant formula maker Bellamy’s Australia Ltd warned that a delay in securing a permit to sell directly in Chinese shops would slow revenue growth for as long as two years, denting a dramatic turnaround at the one-time market darling.

https://www.reuters.com/article/bellamys-results/update-1-bellamys-australia-swings-into-profit-warns-of-china-slowdown-idUSL3N1VJ68U

 

Tourism provides launch pad for business growth in China

SMH, 03 Sep. 2018

Creswick Woollen Mills has been a Victorian family business for more than 70 years, but these days the company is looking to China to drive its growth.

https://www.smh.com.au/business/small-business/tourism-provides-launch-pad-for-business-growth-in-china-20180830-p500mz.html

 

 

Education

Chinese students treated as cash cows at Australian universities

AFR, 29 August 2018

Australian universities have failed to properly integrate Chinese students into campus life, treating them as a commodity to raise revenue, a problem likely to hurt future international enrolments.

https://www.afr.com/news/policy/education/chinese-students-separated-from-university-life-20180828-h14mtx

 

 

China Domestic

Man Charged $5,850 for Haircut Becomes China’s Latest Meme

Sixth Tone, 31 August 2018

When 18-year-old real estate agent Wu Zhengqiang walked into a salon in Hangzhou on Tuesday, he expected to get a haircut. What he didn’t expect was a bill of nearly 40,000 yuan ($5,850), or for the experience to turn him into a top-trending meme on Chinese social media.

http://www.sixthtone.com/news/1002852/man-charged-%245%2C850-for-haircut-becomes-chinas-latest-meme