24/03/2014 Asia Business Report


24/03/2014

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girl in Hackney in East London. Time for Asia Business Report.

:00:00.:00:19.

China's president leaves a dismissed delegation to Europe after new data

:00:20.:00:25.

shows an unexpected fall in manufacturing. And why authorities

:00:26.:00:30.

in India want to tackle the problem of paid news ahead of national

:00:31.:00:40.

elections. Before we take a look at President Xi Jinping's visit to

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Europe, we have the latest manufacturing data from China, which

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has fallen to an eight`month low. This is a further signal that the

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world's second`largest economy is heading for a slowdown in growth.

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Thank you for joining us. And eight`month low of this very key

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gauge of growth. We know that manufacturing is crucial to China's

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economy. Is this something to worry about or was this expected? It looks

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like Chinese leaders had been warning us that this was likely to

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happen. China revised its GDP estimate down to 7.5%, which is

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below the 8% mark we have been at for years. Chinese government

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leaders used to warn that if growth dropped below 8%, stability would be

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in question. Now, we are at 7.5% and Li Keqiang, the Premier, said they

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could tolerate even slower growth. Authorities say that employment is

:02:00.:02:03.

more important than this target. It looks like the government has been

:02:04.:02:07.

trying to lower our expectations for a number of months. There was a

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decision by the leadership to clamp down on pollution at the National

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People's Congress. That will have a massive impact on manufacturing.

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Especially industries that use so`called dirty technologies. Any

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steel producers, any factories that use coal power, which is the

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majority, will all be looked at. Especially factories in the

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north`east of China, which is where there has been traditionally a lot

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of manufacturing. They are under pressure to clean up their act. They

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are being told to move further inland or to the south. That will

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have an impact. Thank you. Continuing with China, Xi Jinping is

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making his first visit to Europe as resident. He will meet President

:03:08.:03:20.

Obama and attend a nuclear summit . There are still big deals in the

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offing despite recent tensions in trade. Xi Jinping on a landmark

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visit to Europe in which trade will feature prominently. France is

:03:32.:03:36.

preparing a sumptuous welcome. It's the 50th anniversary of the

:03:37.:03:40.

establishment of relations with Beijing. Nothing is confirmed but

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it's hoped that Airbus may get a major deal to sell 150 passenger

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jets to China, a deal possibly linked to the opening of a new

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Airbus rectory there. Other contracts are also being looked at

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by Paris. And Peugeot will also sign a long`awaited deal with its Chinese

:04:07.:04:14.

counterparts. After that, Xi Jinping travels to Berlin and then to

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Brussels, to visit the EU. Trade relations here has much improved

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since the resolution of an anti`dumping row over Chinese solar

:04:24.:04:31.

panels and European wine. This comes at a crucial time in international

:04:32.:04:35.

affairs. The EU is downgrading ties with Russia acres of its actions in

:04:36.:04:39.

Crimea and that can only be an opportunity for China. A favoured

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reception in European capitals leading to better trading terms and

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perhaps to that particular prize in Beijing, more transfers of Western

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technology. There has been violence in Taiwan

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after protesters clashed with police over the President's refusal to

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scrap a contentious trade agreement with China. Demonstrations began

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nearly one week ago. Opponents say that the deal will damage the

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Taiwanese economy but the president says his country will be

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marginalised without it. While way has condemned reports `` Huawei has

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condemned claims that it had been infiltrated by the NSA. Washington

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had tried to block Huawei from investing in the US. Attempts to

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stamp out the black market in bold has been launched. Buying gold bars

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is a very common way to hide income in Corrie, where unreported buying

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and selling accounts for 25% of GDP. `` in Korea. India has seen a recent

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phenomenon of paid news, where money changes hands in exchange for

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positive coverage. With the country during up for elections, we report

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on whether there is any chance that this problem can be addressed. It's

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early in the morning and thousands of newspapers arrive, ready for

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delivery. Like me, most of India's 800 million voters depend on

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newspapers for their news. What is printed really matters, especially

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in an election year. Now, some people in India are concerned that

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what is printed is not always the truth. They point to a phenomenon

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known in the country as paid news. It started here almost ten years

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ago. The stresses belong to one of India's biggest media houses. ``

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these presses. They are new and expensive and to keep them busy, the

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company had an idea, charging celebrities and businessmen to cover

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showbiz events and product launches in special, clearly marked

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supplements. It offered advertisers something that they wanted. They

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wanted more visibility and they wanted a comfortable and believable

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environment, which we provided. Increasingly, politicians are paying

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to appear in print and papers don't always make a note of that payment.

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There is no law in paid news. Politicians can be fined but that is

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for exceeding election expenses, not for misleading voters. This man

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stood in the local elections last December. He was fined for paying

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for beneficial coverage. He wants to fight for his feet again and is

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angry at what he insists was a false indictment. `` fight for his

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electorate again. TRANSLATION: They were absolutely wrong. I told them

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in writing that it was not my fault. I'm famous and if I go somewhere,

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local newspapers will cover that. I did not pay a single cent. Whether

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you think paid news is acceptable or not, the reality is that in many of

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these newspapers, you will find examples of stories that have been

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paid for. But you would not necessarily know about it and that

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is why this has become a major topic in this election.

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Asia's growing e`commerce sector is high on the agenda at the world

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retail Congress in Singapore. Growth in retail online shopping has

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outpaced any other aspect in the sector. How do physical stores

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coexist with the internet or smartphones? They have to find out

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ways to make sure that customers don't just buy the product online

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instead of going into the shop. They have policies of customer service

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and other initiatives to make their stores points of interest for

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consumers. There are different ways to pay with mobile shopping. What is

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the mode that most people prefer in this part of the world? I don't

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think there is one that is most preferred. Some people want to buy

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online and pick up in`store. Other people want to pay at the store.

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They have to integrate all of these different channels so they can

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integrate and understand what customers are doing across the board

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and not just manage transactions in store. Thank you for joining us for

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Asia Business Report. This is BBC News. Headlines: The

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hunt for the missing Malaysian airliner continues in the southern

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Indian Ocean. Chinese planes are joining the search for the first

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time. A stark warning from NATO's top military commander in Europe

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about the large build`up of Russian forces

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