:00:14. > :00:22.China's latest economic growth figures are out in half-an-hour. We
:00:23. > :00:30.will see the impact of the economy and the steel industry. And vertigo
:00:31. > :00:39.left of. Helicopters are talking about their expanding base in Asia.
:00:40. > :00:46.-- lift off. Good morning, Asia, hello, world. Glad you could join
:00:47. > :00:48.us. I am Rico Hizon in Singapore. Investors will be watching very
:00:49. > :00:54.carefully this morning as the world's second largest economy
:00:55. > :00:58.releases it economic growth figures. Many are speculating they will be
:00:59. > :01:05.the slowest in years. They have been hit by shrinking foreign and
:01:06. > :01:11.domestic demand in China. They also have an oversupply in the property
:01:12. > :01:18.sector. The central bank has cut interest rates already six times
:01:19. > :01:22.since November of 2014 and the currency, the Yuan, has depreciated
:01:23. > :01:32.as well. We has a report on how these low-down is affecting the
:01:33. > :01:44.steel sector. -- have. -- the slowdown.
:01:45. > :01:46.This is the glut that's swamping the world.
:01:47. > :01:48.China's produced so much steel, it leaves it rusting,
:01:49. > :01:50.And closes steelworks, bricking them up.
:01:51. > :02:00.This steelworks couldn't compete as steel prices crashed from ?600 a ton
:02:01. > :02:02.New figures tomorrow are expected to show China's slowest growth
:02:03. > :02:07.China's moving from an economy which has grown phenomenally for 25 years.
:02:08. > :02:40.Now it's the fearfulness of redundancy.
:02:41. > :02:42.They all now compete with each other for work
:02:43. > :02:51.He says, "The shutdown has greatly affected each and every one of us."
:02:52. > :02:55.We've got old parents and young children we have to provide for.
:02:56. > :03:12.China's over-produced steel, and it's now paying the price
:03:13. > :03:15.in a global market where they compete against Port Talbot.
:03:16. > :03:28.Stephen Evans, BBC News, eastern China.
:03:29. > :03:35.Earlier I spoke with Catherine in Hong Kong. I asked her whether we
:03:36. > :03:41.whole year we aren't expecting fireworks in China,
:03:42. > :03:51.meltdowns. In regards to today's figures, it is likely to come up
:03:52. > :04:01.the case. What further work needs to be done with the Chinese economy? We
:04:02. > :04:08.have seen many interest rates over the past year and economic stimulus
:04:09. > :04:13.and other policies have already been implemented. I think it is
:04:14. > :04:19.unrealistic for investors to keep on expecting uninterrupted stellar
:04:20. > :04:26.growth coming out of China. Known for some time it has slowing of the
:04:27. > :04:32.one of the reasons is the focus of the health of consumer. -- We have
:04:33. > :04:39.known. It is important to look at the help of the consumer but
:04:40. > :04:44.destocking is needed because the curse for China over the years has
:04:45. > :04:49.been producing too much. We needs to rectify this problem. We have seen
:04:50. > :04:58.coming in that report of Steve Evans in the steel industry. -- seen that.
:04:59. > :05:04.But there are points to look at, especially in the December figures,
:05:05. > :05:15.exports are 2.3%, and yesterday, property prices were up for a third
:05:16. > :05:16.straight month. That is right. When we look at the market it is a
:05:17. > :05:23.stockpicker's delight. You can look at strong balance sheet companies
:05:24. > :05:26.who might be in a sector that is unloved with good earnings and
:05:27. > :05:29.growth potential. What is important, companies adjusting for this
:05:30. > :05:34.period, for sum it will be a prolonged and somewhat painful
:05:35. > :05:44.period, but if you have adjusted for it it will show a plus. -- some.
:05:45. > :05:50.Another sign of the pressures, Tata Steel is cutting another 1050 jobs
:05:51. > :05:57.in the UK. Most of them will go from Port Talbot in Wales. The industry
:05:58. > :06:04.across Europe has fallen by 20% since the global financial turmoil
:06:05. > :06:11.in 2008. Rio Tinto reporting an 11% rise in animal and I in all
:06:12. > :06:16.shipments. -- iron ore. They are expected to boost production soon.
:06:17. > :06:22.The company is benefiting from strong output, low cost, and
:06:23. > :06:29.spending. Results from a two-week ban on cars in India's capital,
:06:30. > :06:34.Delhi, showed that air pollution levels remain unhealthy despite
:06:35. > :06:38.restrictions on odd and even plates. But the trial did result in a drop
:06:39. > :06:47.of more than 50% in pollution cost, especially by traffic. One of the
:06:48. > :06:52.fastest ways to get from A to B is through a helicopter. Their use is
:06:53. > :07:03.growing rapidly in this region for transport and emergency response. I
:07:04. > :07:09.asked a company about their customers. There are different
:07:10. > :07:15.customers. Police, for instance, in China, there are coast guards and
:07:16. > :07:21.their agencies in Japan, there is the navy of Korea, the media of the
:07:22. > :07:27.Philippines, Vietnamese operators of oil and gas. What are the challenges
:07:28. > :07:32.of this market? Instead of some big customers you have lots of small
:07:33. > :07:38.ones, as you said, coming from different countries with different
:07:39. > :07:46.needs. What is challenging is you need to understand what they want,
:07:47. > :07:51.their requirements, proposed a solution using the helicopter and
:07:52. > :07:58.after it has been delivered. That is expensive, isn't it? You know, the
:07:59. > :08:09.purchase price is like a 100, the after sales service might be 200. It
:08:10. > :08:16.is an expensive product, but, you can get a lot out of it. A
:08:17. > :08:22.helicopter obviously has it's limitations as well as advantages.
:08:23. > :08:27.-- its. Speed is one, you have been working on it, to find one that
:08:28. > :08:33.flies more like a plane, you call it a tilt rotor, but recently a
:08:34. > :08:37.prototype crashed and killed two pilots. How much has that put back
:08:38. > :08:43.your development? Let me say that the company and everybody within it
:08:44. > :08:50.felt the drama with that accident. The loss of two lives and the sorrow
:08:51. > :08:55.that comes with that for the families is something that has
:08:56. > :08:59.affected the company and everybody. But we can see the future of the
:09:00. > :09:04.helicopter industry. We are the only one in the commercial application
:09:05. > :09:12.with a pressure rice tilt rotor in development. -- Russia right. It
:09:13. > :09:18.takes off and lands like a plane. It is faster and can go further. --
:09:19. > :09:23.pressurised. It is also already being used by the American
:09:24. > :09:28.military. Have you got any orders? We have, but not final orders, still
:09:29. > :09:33.we have development fees. But around 70 different customers wants to be
:09:34. > :09:41.the pioneers of this kind of commercial application. The hugely
:09:42. > :09:46.popular messaging service, WhatsApp, is looking for new ways for
:09:47. > :09:50.businesses to add producers to make up for any revenue shortfall. The
:09:51. > :09:57.co-founder says it is not practical to charge the 99 cents fees as many
:09:58. > :10:02.used as do not have credit. It is a shift from Facebook which brought
:10:03. > :10:11.them $20 million in 2014. WhatsApp has close to 20 million users.
:10:12. > :10:15.Before we go, a quick look at the market as you can see right now on
:10:16. > :10:21.the board. Stocks are rising marginally. Opening losses as
:10:22. > :10:27.investors await China's economic growth data amid worries of a slow
:10:28. > :10:31.in the case. Thank you for investing your time in us. I am Rico Hizon.
:10:32. > :10:38.See you in the next hour. British members of Parliament have
:10:39. > :10:46.held a three-hour debate on whether the US Republican presidential
:10:47. > :10:50.hopeful, Donald Trump should be