17/07/2017 Asia Business Report

China is about to reveal its latest gross numbers. Will it show the

economy slowing down of stabilising? We visit somebody that helps capture

the imagination of millions of fans around the world. Good morning Asia,

hello world. It's's the start of a brand-new trading week, glad you

could join us. Very soon, China will be unveiling its latest economic

growth numbers. Officials say they are changing the way they calculate

what makes up the economy, by including contributions from

healthcare, tourism and the new economy. The last time Chinese

authorities changed how their GDP was calculated was in 2002. This

will give us a better indication of how well the mainland guru from

April- June this year. Earlier, the China economist with HSBC told me

that this reflects the Chinese transitioning

economy. We have seen over the past two years that the new economy set

is in hiring and manufacturing have been outperforming the rest of the

economy. A lot of them are growing in double digits. Even though they

are starting from relatively modest sizes, on the whole, they are of a

sufficient size to be recognised. Healthcare, tourism and economy,

will this bump up economic growth for the Chinese economy in the

long-term or the medium-term? The statistical calculations have shown

that the immediate impact may not be as big. We are expecting GDP to be

6.8% for the second quarter of this year, a very marginal slowdown from

the first quarter at 6.9. There is no doubt that over the medium term,

this will be a very significant shift. It reflects a strong

transformation of the Chinese economy. When is a significant

shift, how many percentage points could this add to growth? It is

difficult to say at this point, we are still forecasting very much into

the future. To give you a sense, we're looking at manufacturing and

services sectors growing in double digits year over year. Traditional

manufacturing sectors, up until last, were still facing deflation.

The diverters between the sectors, new growth and traditional

businesses, are actually quite stark. I think over time it will be

a significant contribution. In other business headlines: Ahead

of the second round of Brexit talks, the British Chancellor has told the

BBC that businesses are holding off from investing in the UK because of

concern about the exit. I think it is absolutely clear that businesses,

where they had discretion over investment and they can hold off,

they are doing so. You can understand why. They are waiting for

more clarity about what the future relationship with Europe will look

like. The way to get the economy moving, to restore business

confidence and consumer confidence, is to give as much clarity as

possible as early as possible, which is why I have been talking of the

last four or five weeks of the importance of a transition

arrangement. I believe the great majority of my colleagues now

recognise that that is the right and sensible way to go, both in the UK

and the European Union. Uber's biggest rival in Southeast

Asia could be about to get a big financial injection. They could be

seeing a $2 billion investment in the company. If it goes ahead, it

would make Grabbed the most valuable start up in the region at $5 billion

US. One company has decided to go on strike for the 50 year in a row over

negotiations for better pay. They are making better plans for the

staff walkouts. Property developers in Asia have not had an easy time

over the past few years. From China to Singapore, governments have

proposed initiatives to prevent property prices from inflating. It

has worked, but has caused prices to become deflated. One in developer

for opportunity in Nantes. In this week's To Minutes With, we speak to

one executive. Yet another new building to add to

the Singapore skyline. It is being put up I am Australian property

developer. I am speaking to the CEO of Asia, Tony Lombard oh. Thank you

for joining us. Here in Asia, you are looking to expand, but this

comes after years of cooling measures being put in place by

governments, trying to stop a property bubble. Why Asia? We have

been in Asia for 44 years, we thought it was the right time for

this project, which we brought back in 2015. Ultimately it stems from

being a multigenerational company in this new and vibrant community. That

is a bit of a challenge, because if you build it, will they necessarily

come? The great thing is that we want a retail and residential cycle

today, and we have seen are starting to pick up. We are pretty confident

on the Singapore market. We think it is going to start turning and

growing from this point on. The other thing you are doing is you are

trying to target the elderly market, that is a problem in Asia. Tell us

how you are doing that? In Australia, we are the largest owner

and operator. It has been a core part of our business. China has a

great need for singular living product. We will see a huge increase

in people over 65 in China. They are aiming to really drive back to

private industry. We feel there is a great opportunity for us to use our

skill sets and bring our owner- operator approach to China. We do

that interest rates are on the rise in the US and elsewhere. How is that

going to impact your business? Globally we have been adjusting to

that strategy for quite a while. Clearly for us as a business, we

have been trying to diversify our portfolio and make sure we are

taking the right opportunities at the right time to grow our portfolio

internationally. Game of Thrones debuts its seven season tonight, and

it has a huge following. Many of the iconic props used in the show were

made in India. Over six seasons, television fans

have seen Game of Thrones capture the imagination of millions of

people. Far from the seven kingdoms, the costumes, is that an authentic

armoury that feature in the show are serious business for a few firms in

India. It is not just Game of Thrones. This man supplies props too

many Hollywood productions, from the avengers and gladiator to the Star

Wars franchise. It is only India and the subcontinent which has the art

of hand embroidery. They can't get it in the West. That is why we do

embroidery and we do anything that is very handmade, it is very period

looking. I'm in heaven, I don't know where to begin. I have just spotted

a prop from Gamer thrones, but nothing can beat John Snow. Here is

my chance to try my hand at his cloak. It is fairly heavy, I don't

know how he does it. I even have his sword. And what is John Snow without

his trusty weapon? This is where his swords are made. The largest factory

of its kind, located in the foothills of the Himalayas. They

make every type of thought, from heavy steel to light titanium. It

supplies two armies around the world, but it swords are not sold

commercially in India. What we possess is only I would say, 2%.

Sometimes it can stretch into 30%, it depends on the movie. But it is

mostly seasonal. This army business is not seasonal. Is the details that

make a story, live on the big screen. As long as the big battles

go on, it means more business on the workflow here. -- these. Time for a

quick look at the market is now. We are seeing some cautiousness

among investors as they await the Chinese growth numbers later today.

Thank you very much for investing your time with us. Have a product on

Monday. -- productive Monday.