:00:17. > :00:25.China unveils its latest economic growth numbers in just over an hour
:00:26. > :00:31.a strong performance is predicted. And we find out why Cadbury has lost
:00:32. > :00:36.taste for chocolate making in New Zealand.
:00:37. > :00:47.Good morning. Glad you could join us for this Monday edition of Asia
:00:48. > :00:50.Business Report. I'm Rico Hizon. We are counting down to new data from
:00:51. > :00:55.China which will reveal how much of its economy grew in the first three
:00:56. > :01:00.months of this year. And there are positive signs with the rebound in
:01:01. > :01:03.exports, a rise in government spending on infrastructure and
:01:04. > :01:08.housing prices continuing to soar. Many believe today's numbers could
:01:09. > :01:12.come in comfortable it higher than the government's estimate for the
:01:13. > :01:21.year at 6.5%. China is still motoring. Do received
:01:22. > :01:27.wisdom for growth in its economy, GDP at the beginning of 2017, is it
:01:28. > :01:31.will come in at around 6.8%. This is the main reason for that continued
:01:32. > :01:36.buoyancy. Construction. In particular, government funded
:01:37. > :01:40.infrastructure projects. There is a new entrance to Shanghai's Metro
:01:41. > :01:44.system here. There is also private money here doing offices and retail.
:01:45. > :01:50.All of this continues to create jobs, it continues to create demand
:01:51. > :01:53.for steel, the things go in to steal like iron ore and that's why we
:01:54. > :01:59.continue to see this buoyancy, this continued growth in the economy. The
:02:00. > :02:05.rate of that growth is slowing. 6.8% is far away from the growth its
:02:06. > :02:09.economy was experiencing years and years ago. Overall, it remains
:02:10. > :02:14.positive. The government is looking at 6.5% for all of 2017 so these
:02:15. > :02:18.figures could be slightly above that target. This look at some other
:02:19. > :02:22.statistics. On the retail side, there will be a new development here
:02:23. > :02:27.of high end stuff. Retail growth remained in the high and singledigit
:02:28. > :02:34.but it has slowed to a slower street in two years and that may be a
:02:35. > :02:38.concern. And experts remain high. -- imports and exports. A return to a
:02:39. > :02:42.trade service to this country as well. The overall project here in
:02:43. > :02:47.China remains to try to refocus the economy away from being led, driven,
:02:48. > :02:51.by public money, infrastructure projects and depending on exports
:02:52. > :02:54.and being more focused on the Chinese consumer, what Chinese
:02:55. > :03:00.people are spending. That is a long way off. These figures, if they do
:03:01. > :03:03.come in at 6.8%, suggests it is still public money infrastructure
:03:04. > :03:07.projects that continue to drive the growth. Slowing growth but
:03:08. > :03:09.nonetheless growth in China's economy.
:03:10. > :03:17.Those mainland numbers are out in less than that 90 minutes time.
:03:18. > :03:22.Let's look at what else is coming up over the next few days. US Vice
:03:23. > :03:31.President Mike Pence is attending South Korea, Japan and Australia. He
:03:32. > :03:35.is due to make -- top of the agenda will be North Korea's missile
:03:36. > :03:43.programme. Moving onto the corporate calendar. Netflix will be kicking
:03:44. > :03:51.off the season. We expected earnings to rise 400% per share. On Friday,
:03:52. > :04:00.the IMF will be giving a briefing on the economic prospects for the
:04:01. > :04:03.region. Earlier, I spoke to Amy from the bank. She is explaining why she
:04:04. > :04:13.is in the camp of 6.8%. Usually the housing market has a
:04:14. > :04:18.lagging effect on the economy. That means especially at the end of last
:04:19. > :04:22.year construction rose and a service boomed. It is continually having a
:04:23. > :04:28.positive effect on the economy through the manufacturing and
:04:29. > :04:32.service sector. One could this be the Achilles heel of the Chinese
:04:33. > :04:41.economy in the second half of the year because of --a lot of people
:04:42. > :04:45.are predicting a bubble due to rising prices. The government is
:04:46. > :04:53.aware of this risk and that is why they have been slowly tightening.
:04:54. > :04:57.Cooling down on the housing market. Liam Broady scene is when new
:04:58. > :05:03.construction starts are slowing down. -- we have already seen that.
:05:04. > :05:08.Is that say that they won't be a property bubble because the property
:05:09. > :05:12.market continues to grow at twice of the underlying economy. You could
:05:13. > :05:15.argue whether we already have a property bubble. If you look at
:05:16. > :05:19.prices competitive come compared to rent. We already have huge bubble.
:05:20. > :05:23.It is just a matter of time whether this will become bigger and right
:05:24. > :05:28.now, the government is tragedy fleck that bubble. That will have a
:05:29. > :05:34.cooling effect later this year. But would it also helped the Chinese
:05:35. > :05:39.economy going forward? If US softens its stance towards China? Recently
:05:40. > :05:43.doing a U-turn on claims it will not branded a currency manipulator and
:05:44. > :05:47.you also have the US Vice President visiting Asia but not China. Is
:05:48. > :05:56.there something we are not seeing here? I'm saying is not surprising
:05:57. > :06:07.that p has put China on its agenda. So soon after Trump and Xi Jinping's
:06:08. > :06:13.face off. They look at some close ties towards other Asian natures.
:06:14. > :06:16.But China, a close partner in terms of the US in terms of trade policies
:06:17. > :06:20.and the economic agenda and the rising geopolitical tensions with
:06:21. > :06:34.North Korea. In other business news, making
:06:35. > :06:40.headlines. Telecommunications giant ZTE is to post a modest earnings.
:06:41. > :06:43.Its numbers come just after the US lifted a trade ban on the company.
:06:44. > :06:49.The Chinese handset maker is the only firm from the mainland which
:06:50. > :06:59.has managed to crack the US market, standing at the fourth largest
:07:00. > :07:03.behind South Korea's LG. $40 million in pay and bonuses was paid last
:07:04. > :07:10.year which is said to be more than the highest salaries at Apple or
:07:11. > :07:16.IBM. It has been boosted by online games and advertising. There has
:07:17. > :07:20.been an nationwide a clash in New Zealand against the decision by
:07:21. > :07:25.chocolate giant Cadbury to move its operations to Australia next year.
:07:26. > :07:29.The company's American owner says it is not profitable enough to keep the
:07:30. > :07:34.factory in the country and the hundreds of jobs are to go. The
:07:35. > :07:36.local rival is enjoying huge success operating in New Zealand and is
:07:37. > :07:48.expanding globally. The world-famous jaffa race brings
:07:49. > :07:51.out the cheering crowds in their thousands as Cadbury chocolate balls
:07:52. > :07:57.made just down the road rolled down the world's steepest street. But now
:07:58. > :08:01.crowds are protesting against Cadbury which has made chocolate
:08:02. > :08:06.here since 1930 and become a part of the community's identity. I think
:08:07. > :08:12.it's disgusting because we are making a profit here will stop I
:08:13. > :08:18.mean, it's not like we are not. We just work hard. Despite turning a
:08:19. > :08:22.profit, the company that owns -- Cadbury says the factory isn't
:08:23. > :08:27.sustainable and more than 360 workers will lose jobs. A major blow
:08:28. > :08:30.for a provincial centre. It's about time our multinationals begin
:08:31. > :08:34.looking after people who have been looking at them to the last 100
:08:35. > :08:41.years. Contractors, tourism. There are reports of keeping the world
:08:42. > :08:45.open but it's a bit silly having it opened without the cab roof to
:08:46. > :08:48.decide it. It has over 100,000 visitors per year. It was to
:08:49. > :08:52.redevelop the tourist attraction. For many, it isn't enough. A
:08:53. > :09:01.national campaign has been started to Boy boycott Cadbury products.
:09:02. > :09:06.Here, just north of Wellington, Whitakers is proving otherwise. It's
:09:07. > :09:10.me making chocolate for more than 120 years and has become one of the
:09:11. > :09:15.country's success stories. We have shown that we are growing. Big
:09:16. > :09:20.multinationals often have strategic views in certain areas and I think
:09:21. > :09:24.we are just solely focused on quality of product. The family run
:09:25. > :09:27.business has been growing using innovative flavours and slick
:09:28. > :09:32.marketing. Now, it is taking a careful approach into the Middle
:09:33. > :09:36.East, Canada and Asia. We don't try to spread ourselves too thinly. We
:09:37. > :09:40.just need to focus on particular areas. When you look at China, in
:09:41. > :09:44.particular, the change in demographic is the biggest
:09:45. > :09:47.opportunity on our horizon. With its main competitors production now
:09:48. > :09:50.leaving New Zealand, the prospect of the southern chocolate here are
:09:51. > :10:00.mouthwatering. -- Chocolatier. Asian stocks are currently under
:10:01. > :10:06.pressure in early Monday trading as rising tensions in the Korean
:10:07. > :10:14.peninsula. Tokyo stocks are down by about 68%. It is tending four days
:10:15. > :10:18.of losses as the yen remains strong on geopolitical risks. As the Wall
:10:19. > :10:22.Street, it was closed on Friday due to the Easter holidays and will
:10:23. > :10:27.start the new trading week with the Dow and the NASDAQ in negative
:10:28. > :10:29.territory. Thank you so much for investing your time with us. Sport
:10:30. > :10:35.Today is coming up next. One of the biggest teachers' unions
:10:36. > :10:38.says children with special needs, aren't getting the support
:10:39. > :10:41.they're entitled to,