:00:00. > :00:00.Now, for the latest financial news with Sally
:00:00. > :00:21.Fasten your seatbelts - a new trading week has begun, with shares
:00:22. > :00:30.We'll be live in Singapore with the latest.
:00:31. > :00:33.Staying in fifth gear after a record breaking year, how will the
:00:34. > :00:38.We're at the Detroit Auto Show, where GM has done the unthinkable,
:00:39. > :00:51.unveiling a chinese made car to American consumers.
:00:52. > :00:53.Hello, and welcome to World Business Report.
:00:54. > :00:56.Also in the programme, we'll hear from a factory owner
:00:57. > :00:59.in China about how slowing trade is affecting his business.
:01:00. > :01:04.It's day one of a new trading week and all eyes are on China's stock
:01:05. > :01:08.At the start of day shares in Shanghai fell 2%, following weak
:01:09. > :01:11.inflation data over the weekend showing consumer prices edged up
:01:12. > :01:23.Sharanjit Leyl is in our Asia business hub in Singapore for us.
:01:24. > :01:36.Nice to see you, Sharan. So, what's going on? Well, the benchmark index
:01:37. > :01:45.in China is still low, down 2.5% right now, as you mentioned, Celek,
:01:46. > :01:48.opening down 2%, reversing Friday's recovery -- Sally. The report did
:01:49. > :01:55.not tell investors what they didn't already know, that China's economy
:01:56. > :02:04.is slowing. There are overwhelming concerns about that. We saw the
:02:05. > :02:08.other data, Factory Gate Prices, falling down mine %. It shows
:02:09. > :02:14.deflation risks remain in the world's second largest economy. They
:02:15. > :02:21.are rushing to sell shares and continue to do so. Perhaps also more
:02:22. > :02:25.evidence of the Chinese authorities flip-flopping after the currency,
:02:26. > :02:29.the yuan, strength and largely against the dollar following the
:02:30. > :02:34.central bank moved to set a firm at midpoint reference rate for the
:02:35. > :02:37.second session in a row. Previously, they were focused on depreciating
:02:38. > :02:41.the currency in what many analysts thought was the attempt to boost
:02:42. > :02:47.Chinese exports and help the slowing economy. Sally, if you were to cast
:02:48. > :02:50.your mind back to the same time one week ago, that is when Chinese
:02:51. > :02:55.markets were suspended from trade for the very first time after the
:02:56. > :02:59.regulator had implemented those new circuit breaker rules to prevent the
:03:00. > :03:02.market from falling over a certain amount. Now, we know that these
:03:03. > :03:08.markets were suspended again later in the week, which caused more
:03:09. > :03:12.dramatic plunges for global markets as well. China has now suspended the
:03:13. > :03:17.use of that circuit breaker tool on Friday, in a move which has
:03:18. > :03:22.reassured traders, but has prom to criticism over the Chinese
:03:23. > :03:28.authorities' policy measures to control their markets. We will watch
:03:29. > :03:29.this space. Thank you so much, Sharan. The Japanese market is
:03:30. > :03:32.closed today for a public holiday. That's the picture on the financial
:03:33. > :03:35.markets, but how bad is the Our team there has been talking to
:03:36. > :03:40.a factory owner in Mr Yuan says he's been forced to let
:03:41. > :03:44.his staff go after losing tens of thousands of dollars
:03:45. > :05:40.in orders over the past year. The US car industry has just
:05:41. > :05:43.finished a record year with sales So, what will it do to keep
:05:44. > :05:52.the momentum going? Well, at one of the first car events
:05:53. > :05:56.of the year, the Detroit Auto Show, General Motors is doing
:05:57. > :05:58.the unthinkable, unveiling But US auto unions are describing
:05:59. > :06:03.the Buick Envision as a slap in the face to taxpayers, who bailed out GM
:06:04. > :06:05.following the financial crisis. Michelle Fleury was at the launch
:06:06. > :06:25.in Detroit. This stunning Buick concept. A grand
:06:26. > :06:31.entrance. General Motors knows how to make a splash. And here is a clue
:06:32. > :06:33.to the night's other surprise... Several of our friends and business
:06:34. > :06:38.partners from China are here tonight. We know how big a market
:06:39. > :06:45.China is for US carmakers but what about the other way around? GM is
:06:46. > :06:55.the first of the Detroit Three to bring a Chinese built car. The Buick
:06:56. > :06:58.Envision hits US in summer. The manager of GM defended the decision
:06:59. > :07:03.to keep manufacture in China. The strategy we have in the company is
:07:04. > :07:07.to design, to build where we sell, that is the general strategy. In
:07:08. > :07:13.this case there was no economics to do it here, and as you saw, it is
:07:14. > :07:17.doing well in China. How many cars do you hope to sell in the US versus
:07:18. > :07:27.how many in China? China will be much more significant. The band may
:07:28. > :07:33.have been called the Accidentals but GM wasn't making a mistake importing
:07:34. > :07:37.a Chinese made car. The auto analyst Michael Dunn explains why. Back in
:07:38. > :07:40.2009 with the crisis, many brands went away. They held onto Buick
:07:41. > :07:46.because of the profitability China and the potential to grow. So, in
:07:47. > :07:52.our way, US consumers, global consumers, can thank China for a
:07:53. > :07:57.prosperous Buick today -- in a way. For many here in the birthplace of
:07:58. > :08:01.America's car industry, it is a slap in the face. Would you buy a Chinese
:08:02. > :08:06.made car? Probably not. What about if it is General Motors? Note! It
:08:07. > :08:12.was built in the US and they are shipping the cheap cars from China
:08:13. > :08:19.to Detroit which is not right -- no! Chinese made? Yeah. - see a problem.
:08:20. > :08:23.What is remarkable is time in a short period of time is capable of
:08:24. > :08:28.building a car that can compete along those made here in Motor
:08:29. > :08:32.City. The question now is how it will sit with Americans, especially
:08:33. > :08:39.right here in the cradle of the US auto industry -- I don't see a
:08:40. > :08:46.problem. We will have more from the shell as the week progresses there.
:08:47. > :08:47.-- we will have more from there as the week progresses.
:08:48. > :08:51.The latest Star Wars film has broken records in China, taking fifty-three
:08:52. > :08:53.million dollars in ticket sales on its first weekend.
:08:54. > :08:56."Star Wars: The Force Awakens" has now passed the $1 billion mark
:08:57. > :08:58.in global ticket sales faster than any other film.
:08:59. > :09:01.Chinese state media say authorities have arrested five more officials
:09:02. > :09:03.of a company involved in a deadly landslide
:09:04. > :09:06.The government has blamed breaches in construction safety standards
:09:07. > :09:09.for the disaster in the southern city of Shenzhen.
:09:10. > :09:13.It takes the total number of arrests to 16.
:09:14. > :09:15.A major shareholder in Royal Dutch Shell,
:09:16. > :09:17.Standard Life Investment, says it will oppose the oil company's
:09:18. > :09:21.It says weak oil prices and risks for BG in Brazil could
:09:22. > :09:23.make the deal "value destructive" for Shell shareholders.
:09:24. > :09:36.Shell says it remains confident of winning the vote.
:09:37. > :09:43.A quick look at the market. We've mention Japan's closed, and we've
:09:44. > :09:51.mentioned how Shanghai is performing. Just to mention, the
:09:52. > :09:54.Hong Kong Yuan Rate has jumped 13%, the highest on record, in an
:09:55. > :09:57.indication of the credit crunch following the bank of China's
:09:58. > :10:04.intervention to try to stabilise markets in China. You are up to
:10:05. > :10:09.date, I will see you soon -- Bank of China.