:00:00. > :00:00.Shadow Chancellor. The heart of his plan was the increase in the living
:00:00. > :00:12.wage of at least ?10 per hour. Here is Rico in Asia Business Report.
:00:13. > :00:18.A positive outlook for Asia as steady growth is forecast despite
:00:19. > :00:25.uncertain times and worries about China. Don't touch! It's not allowed
:00:26. > :00:29.in here! What happened when we looked into the controversial loans
:00:30. > :00:40.that left many Chinese investors out of pocket. Good morning, Asia, hello
:00:41. > :00:44.world. It is a Tuesday and glad you could join us for this edition of
:00:45. > :00:48.Asia Business Report. Chinese slowing economy is seen as analysts
:00:49. > :00:52.to be the biggest threat to the global economy will. But the Anna
:00:53. > :01:00.report paints a less dire picture. My colleague spoke to a Big E and is
:01:01. > :01:05.asked why the world 's second-largest economy is holding
:01:06. > :01:09.up. China's growth in our forecast is seen as slowing but it appears in
:01:10. > :01:16.the growth, we are not seeing a heartland. Due to the quick pace
:01:17. > :01:19.that we saw in the first half of the year, we are upgrading our forecast
:01:20. > :01:28.for China just a little bit for this year and next year. -- hard landing.
:01:29. > :01:34.The economy has had some success in rebalancing towards greater growth
:01:35. > :01:41.driven by consumption and less driven by exports. And investment.
:01:42. > :01:45.Also, an uptick in the amount services are contributing. Hour can
:01:46. > :01:51.you say that when it goes counter to what many others are saying about
:01:52. > :01:55.China, the fact they may not actually be reporting accurate
:01:56. > :02:02.figures, they are slowing much more than they say? Even if I look at
:02:03. > :02:05.what capital economics has published in their activity report, not
:02:06. > :02:11.looking necessarily at precise numbers but the trends are very
:02:12. > :02:16.similar and that is it is easing in growth, not a large dropping off in
:02:17. > :02:27.growth. Moving on to the monetary Polec -- policy decisions. Rates
:02:28. > :02:33.likely to height at some point in Japan is carrying on with its
:02:34. > :02:41.stimulus policies. How do you see it impacting Asia? We feel it is
:02:42. > :02:44.somewhat of a risk, at this stage. That is our market is factoring in
:02:45. > :02:51.the possibility of a rate increase later this year and increases next
:02:52. > :02:56.year. As long as the Feds projects its policy well in that we don't see
:02:57. > :03:00.any sharp movement in the markets, not likely to have big impact on
:03:01. > :03:07.developing Asia. That is one of the possible risks.
:03:08. > :03:14.Anger has been boiling over in China over the controversial practice
:03:15. > :03:17.known as peer-to-peer lending. Investors have lost millions
:03:18. > :03:24.doubling in the industry which allows borrowers and lenders to
:03:25. > :03:33.connect directly online. Many of these companies fail in China.
:03:34. > :03:34.Investors in one company called Dada said it lost millions of dollars
:03:35. > :03:42.when it collapsed in Shanghai. Street protest is not unusual in
:03:43. > :03:50.China but a demonstration outside the heart of government in the
:03:51. > :03:55.country's biggest city is rare. We wanted to film a crowd of angry
:03:56. > :04:01.investors who lost tens of millions when one firm collapsed. Don't speak
:04:02. > :04:12.English, speak Chinese, policeman told an investor. Don't touch! I
:04:13. > :04:16.told you, it is not allowed in here! This was to stop us from fielding
:04:17. > :04:19.pensioners and families who have lost their savings. This lady lost
:04:20. > :04:31.the equivalent of $60,000. So you felt this came with
:04:32. > :04:39.government approval? Yes. This is the firm at the centre. Dada, it
:04:40. > :04:43.collapsed last year. Investors will leading by a promise of at least 6%
:04:44. > :04:47.returns. Their campaign video also makes it clear that they thought it
:04:48. > :04:52.was Communist Party and government backing. Peer-to-peer marries
:04:53. > :04:56.investors with lenders. Much of it online. For most one decade, China
:04:57. > :05:01.has encouraged the business to shake up a stale banking sector but it's
:05:02. > :05:07.virtually unregulated. One third of firms that have been set up have got
:05:08. > :05:12.into trouble. Drafted laws to try to eradicate the cowboy activity were
:05:13. > :05:15.unveiled earlier this year but I'm told the British government is also
:05:16. > :05:19.offering help. While the protest was going on outside that building,
:05:20. > :05:23.edition fizzles were inside this building, meeting the city's man and
:05:24. > :05:34.discussing ways to try and control online finance. -- British fizzles.
:05:35. > :05:40.-- officials. This man lost the equivalent of $12 million. He says
:05:41. > :05:43.they are victims. In private, some have told us they think corrupt
:05:44. > :05:49.connections are slowing the police investigation into Dada. 26 floors
:05:50. > :05:53.up, this is to be a bustling sales office and spent Dada fell apart
:05:54. > :05:58.last December. The regulators over the river in the heart of China's
:05:59. > :06:02.financial capital have proposed new rules to clean up the peer-to-peer
:06:03. > :06:03.industry but the police continue to investigate and people continue to
:06:04. > :06:11.protest. There is a lot of talk that Twitter
:06:12. > :06:15.could be up for sale with a deal expected over the next few weeks
:06:16. > :06:21.according to various media reports. Microsoft has joined the link --
:06:22. > :06:27.list. The microblogging service was also said to be in talks with Google
:06:28. > :06:29.recently. South Korea's biggest car manufacturer Hyundai has grappled
:06:30. > :06:35.with falling profits for many months. Now there are worries that
:06:36. > :06:40.the financial performance could get worse with strikes crippling
:06:41. > :06:44.production. On Monday, nearly 50,000 workers held their first nationwide
:06:45. > :06:45.straight in less -- more than a decade.
:06:46. > :08:06.More problems for Hyundai motors. $14 billion, that is what was paid
:08:07. > :08:14.to take over its rival to become the world 's largest hotel chain. What
:08:15. > :08:21.can customers expect under the new combined company? Let's hear it from
:08:22. > :08:25.Greg Smith, the age of the -- and Asia Pacific president for Marriott.
:08:26. > :08:33.Command, will have 85 million loyalty and numbers. That is SPG and
:08:34. > :08:39.loyalty rewards. You have leaders in all of these groups. For them, that
:08:40. > :08:43.is more benefits from the combined organisation. We came out with our
:08:44. > :08:52.website so you can link together. We will automatically give you an SPG
:08:53. > :08:56.elite status. That is automatically wherever you travel, whether you
:08:57. > :09:06.travel to Marriott hotel or another hotel. Also what is important is
:09:07. > :09:11.what we call Sheriff trip. -- share of trip. They may not always stay
:09:12. > :09:15.with us because we might not have hotel in that location. I have my
:09:16. > :09:19.preferred travel partners as far as L lines go and I would love travel
:09:20. > :09:23.with them and give them all my business so I can be treated like a
:09:24. > :09:26.big -- VIP but unfortunately, they do not fly to every location I go
:09:27. > :09:31.to. The same thing happens in the hotel industry. Now, we are having
:09:32. > :09:35.twice as many hotels in locations in Asia-Pacific. We are giving the
:09:36. > :09:39.opportunity to give the VIP status and collect points and bring it
:09:40. > :09:42.together, no matter where they go in the Asia-Pacific. It would be hard
:09:43. > :09:46.with 500 hotels to visit all locations.
:09:47. > :09:53.Before we go, here is a quick look at market action this coming
:09:54. > :09:59.Tuesday. Asia investors are very tense as they wait the all-important
:10:00. > :10:08.US presidential debate. As you can see, the Nikkei 225, done by 49
:10:09. > :10:13.points. The all ordinaries index also in negative territory by 49
:10:14. > :10:18.points despite oil markets in positive territory. That is it for
:10:19. > :10:22.this edition of Asia Business Report this morning. Two hours of special
:10:23. > :10:27.programming coming up with Katty Kay in New York and she takes us through
:10:28. > :10:28.the US presidential debate. Stay with us on BBC World