China Home Prices Fall at Faster Pace as Officials Vow Support
New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.22% from April, when they slid 0.12%, National Bureau of Statistics figures showed Monday. Values of used homes fell 0.5%, the sharpest decline in eight months.
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25 minutes ago
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Vietnam wants to be the next Asian tiger and it's overhauling its economy to make it happen
HANOI, Vietnam (AP) — Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanoi's central party school, Communist Party chief To Lam declared the arrival of 'a new era of development' late last year. The speech was more than symbolic— it signaled the launch of what could be Vietnam's most ambitious economic overhaul in decades. Vietnam aims to get rich by 2045 and become Asia's next 'tiger economy' — a term used to describe the earlier ascent of countries like South Korea and Taiwan. The challenge ahead is steep: Reconciling growth with overdue reforms, an aging population, climate risks and creaking institutions. There's added pressure from President Donald Trump over Vietnam's trade surplus with the U.S., a reflection of its astounding economic trajectory. In 1990, the average Vietnamese could afford about $1,200 worth of goods and services a year, adjusted for local prices. Today, that figure has risen by more than 13 times to $16,385. Vietnam's transformation into a global manufacturing hub with shiny new highways, high-rise skylines and a booming middle class has lifted millions of its people from poverty, similar to China. But its low-cost, export-led boom is slowing, while the proposed reforms — expanding private industries, strengthening social protections, and investing in tech, green energy. It faces a growing obstacle in climate change. 'It's all hands on can't waste time anymore," said Mimi Vu of the consultancy Raise Partners. The export boom can't carry Vietnam forever Investment has soared, driven partly by U.S.-China trade tensions, and the U.S. is now Vietnam's biggest export market. Once-quiet suburbs have been replaced with industrial parks where trucks rumble through sprawling logistics hubs that serve global brands. Vietnam ran a $123.5 billion trade surplus with the U.S. trade in 2024, angering Trump, who threatened a 46% U.S. import tax on Vietnamese goods. The two sides appear to have settled on a 20% levy, and twice that for goods suspected of being transshipped, or routed through Vietnam to avoid U.S. trade restrictions. During negotiations with the Trump administration, Vietnam's focus was on its tariffs compared to those of its neighbors and competitors, said Daniel Kritenbrink, a former U.S. ambassador to Vietnam. 'As long as they're in the same zone, in the same ballpark, I think Vietnam can live with that outcome," he said. But he added questions remain over how much Chinese content in those exports might be too much and how such goods will be taxed. Vietnam was preparing to shift its economic policies even before Trump's tariffs threatened its model of churning out low-cost exports for the world, aware of what economists call the 'middle-income trap,' when economies tend to plateau without major reforms. To move beyond that, South Korea bet on electronics, Taiwan on semiconductors, and Singapore on finance, said Richard McClellan, founder of the consultancy RMAC Advisory. But Vietnam's economy today is more diverse and complex than those countries were at the time and it can't rely on just one winning sector to drive long-term growth and stay competitive as wages rise and cheap labor is no longer its main advantage. It needs to make 'multiple big bets,' McClellan said. Vietnam's game plan is hedging its bets Following China's lead, Vietnam is counting on high-tech sectors like computer chips, artificial intelligence and renewable energy, providing strategic tax breaks and research support in cities like Hanoi, Ho Chi Minh City, and Danang. It's also investing heavily in infrastructure, including civilian nuclear plants and a $67 billion North–South high-speed railway, that will cut travel time from Hanoi to Ho Chi Minh City to eight hours. Vietnam also aspires to become a global financial center. The government plans two special financial centers, in bustling Ho Chi Minh City and in the seaside resort city of Danang, with simplified rules to attract foreign investors, tax breaks, support for financial tech startups, and easier ways to settle business disputes. Underpinning all of this is institutional reform. Ministries are being merged, low-level bureaucracies have been eliminated and Vietnam's 63 provinces will be consolidated into 34 to build regional centers with deeper talent pools. Private business to take the lead Vietnam is counting on private businesses to lead its new economic push — a seismic shift from the past. In May, the Communist Party passed Resolution 68. It calls private businesses the 'most important force' in the economy, pledging to break away from domination by state-owned and foreign companies. So far, large multinationals have powered Vietnam's exports, using imported materials and parts and low cost local labor. Local companies are stuck at the low-end of supply chains, struggling to access loans and markets that favored the 700-odd state-owned giants, from colonial-era beer factories with arched windows to unfashionable state-run shops that few customers bother to enter. 'The private sector remains heavily constrained," said Nguyen Khac Giang of Singapore's ISEAS–Yusof Ishak Institute. Again emulating China, Vietnam wants 'national champions' to drive innovation and compete globally, not by picking winners, but by letting markets decide. The policy includes easier loans for companies investing in new technology, priority in government contracts for those meeting innovation goals, and help for firms looking to expand overseas. Even mega-projects like the North-South High-Speed Rail, once reserved for state-run giants, are now open to private bidding. By 2030, Vietnam hopes to elevate at least 20 private firms to a global scale. But Giang warned that there will be pushback from conservatives in the Communist Party and from those who benefit from state-owned firms. A Closing Window from climate change Even as political resistance threatens to stall reforms, climate threats require urgent action. After losing a major investor over flood risks, Bruno Jaspaert knew something had to change. His firm, DEEP C Industrial Zones, houses more than 150 factories across northern Vietnam. So it hired a consultancy to redesign flood resilience plans. Climate risk is becoming its own kind of market regulation, forcing businesses to plan better, build smarter, and adapt faster. 'If the whole world will decide it's a can go very fast,' said Jaspaert. When Typhoon Yagi hit last year, causing $1.6 billion in damage, knocking 0.15% off Vietnam's GDP and battering factories that produce nearly half the country's economic output, roads in DEEP C industrial parks stayed dry. Climate risks are no longer theoretical: If Vietnam doesn't take strong action to adapt to and reduce climate change, the country could lose 12–14.5% of its GDP each year by 2050, and up to one million people could fall into extreme poverty by 2030, according to the World Bank. Meanwhile, Vietnam is growing old before it gets rich. The country's 'golden population' window — when working-age people outnumber dependents — will close by 2039 and the labor force is projected to peak just three years later. That could shrink productivity and strain social services, especially since families — and women in particular — are the default caregivers, said Teerawichitchainan Bussarawan of the Centre for Family and Population Research at the National University of Singapore. Vietnam is racing to pre-empt the fallout by expanding access to preventive healthcare so older adults remain healthier and more independent. Gradually raising the retirement age and drawing more women into the formal workforce would help offset labor gaps and promote "healthy aging,' Bussarawan said. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at Aniruddha Ghosal, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
Vietnam wants to be the next Asian tiger and it's overhauling its economy to make it happen.
HANOI, Vietnam (AP) — Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanoi's central party school, Communist Party chief To Lam declared the arrival of 'a new era of development' late last year. The speech was more than symbolic— it signaled the launch of what could be Vietnam's most ambitious economic overhaul in decades. Vietnam aims to get rich by 2045 and become Asia's next 'tiger economy' — a term used to describe the earlier ascent of countries like South Korea and Taiwan. The challenge ahead is steep: Reconciling growth with overdue reforms, an aging population, climate risks and creaking institutions. There's added pressure from President Donald Trump over Vietnam's trade surplus with the U.S., a reflection of its astounding economic trajectory. In 1990, the average Vietnamese could afford about $1,200 worth of goods and services a year, adjusted for local prices. Today, that figure has risen by more than 13 times to $16,385. Vietnam's transformation into a global manufacturing hub with shiny new highways, high-rise skylines and a booming middle class has lifted millions of its people from poverty, similar to China. But its low-cost, export-led boom is slowing, while the proposed reforms — expanding private industries, strengthening social protections, and investing in tech, green energy. It faces a growing obstacle in climate change. 'It's all hands on can't waste time anymore," said Mimi Vu of the consultancy Raise Partners. The export boom can't carry Vietnam forever Investment has soared, driven partly by U.S.-China trade tensions, and the U.S. is now Vietnam's biggest export market. Once-quiet suburbs have been replaced with industrial parks where trucks rumble through sprawling logistics hubs that serve global brands. Vietnam ran a $123.5 billion trade surplus with the U.S. trade in 2024, angering Trump, who threatened a 46% U.S. import tax on Vietnamese goods. The two sides appear to have settled on a 20% levy, and twice that for goods suspected of being transshipped, or routed through Vietnam to avoid U.S. trade restrictions. During negotiations with the Trump administration, Vietnam's focus was on its tariffs compared to those of its neighbors and competitors, said Daniel Kritenbrink, a former U.S. ambassador to Vietnam. 'As long as they're in the same zone, in the same ballpark, I think Vietnam can live with that outcome," he said. But he added questions remain over how much Chinese content in those exports might be too much and how such goods will be taxed. Vietnam was preparing to shift its economic policies even before Trump's tariffs threatened its model of churning out low-cost exports for the world, aware of what economists call the 'middle-income trap,' when economies tend to plateau without major reforms. To move beyond that, South Korea bet on electronics, Taiwan on semiconductors, and Singapore on finance, said Richard McClellan, founder of the consultancy RMAC Advisory. But Vietnam's economy today is more diverse and complex than those countries were at the time and it can't rely on just one winning sector to drive long-term growth and stay competitive as wages rise and cheap labor is no longer its main advantage. It needs to make 'multiple big bets,' McClellan said. Vietnam's game plan is hedging its bets Following China's lead, Vietnam is counting on high-tech sectors like computer chips, artificial intelligence and renewable energy, providing strategic tax breaks and research support in cities like Hanoi, Ho Chi Minh City, and Danang. It's also investing heavily in infrastructure, including civilian nuclear plants and a $67 billion North–South high-speed railway, that will cut travel time from Hanoi to Ho Chi Minh City to eight hours. Vietnam also aspires to become a global financial center. The government plans two special financial centers, in bustling Ho Chi Minh City and in the seaside resort city of Danang, with simplified rules to attract foreign investors, tax breaks, support for financial tech startups, and easier ways to settle business disputes. Underpinning all of this is institutional reform. Ministries are being merged, low-level bureaucracies have been eliminated and Vietnam's 63 provinces will be consolidated into 34 to build regional centers with deeper talent pools. Private business to take the lead Vietnam is counting on private businesses to lead its new economic push — a seismic shift from the past. In May, the Communist Party passed Resolution 68. It calls private businesses the 'most important force' in the economy, pledging to break away from domination by state-owned and foreign companies. So far, large multinationals have powered Vietnam's exports, using imported materials and parts and low cost local labor. Local companies are stuck at the low-end of supply chains, struggling to access loans and markets that favored the 700-odd state-owned giants, from colonial-era beer factories with arched windows to unfashionable state-run shops that few customers bother to enter. 'The private sector remains heavily constrained," said Nguyen Khac Giang of Singapore's ISEAS–Yusof Ishak Institute. Again emulating China, Vietnam wants 'national champions' to drive innovation and compete globally, not by picking winners, but by letting markets decide. The policy includes easier loans for companies investing in new technology, priority in government contracts for those meeting innovation goals, and help for firms looking to expand overseas. Even mega-projects like the North-South High-Speed Rail, once reserved for state-run giants, are now open to private bidding. By 2030, Vietnam hopes to elevate at least 20 private firms to a global scale. But Giang warned that there will be pushback from conservatives in the Communist Party and from those who benefit from state-owned firms. A Closing Window from climate change Even as political resistance threatens to stall reforms, climate threats require urgent action. After losing a major investor over flood risks, Bruno Jaspaert knew something had to change. His firm, DEEP C Industrial Zones, houses more than 150 factories across northern Vietnam. So it hired a consultancy to redesign flood resilience plans. Climate risk is becoming its own kind of market regulation, forcing businesses to plan better, build smarter, and adapt faster. 'If the whole world will decide it's a can go very fast,' said Jaspaert. When Typhoon Yagi hit last year, causing $1.6 billion in damage, knocking 0.15% off Vietnam's GDP and battering factories that produce nearly half the country's economic output, roads in DEEP C industrial parks stayed dry. Climate risks are no longer theoretical: If Vietnam doesn't take strong action to adapt to and reduce climate change, the country could lose 12–14.5% of its GDP each year by 2050, and up to one million people could fall into extreme poverty by 2030, according to the World Bank. Meanwhile, Vietnam is growing old before it gets rich. The country's 'golden population' window — when working-age people outnumber dependents — will close by 2039 and the labor force is projected to peak just three years later. That could shrink productivity and strain social services, especially since families — and women in particular — are the default caregivers, said Teerawichitchainan Bussarawan of the Centre for Family and Population Research at the National University of Singapore. Vietnam is racing to pre-empt the fallout by expanding access to preventive healthcare so older adults remain healthier and more independent. Gradually raising the retirement age and drawing more women into the formal workforce would help offset labor gaps and promote "healthy aging,' Bussarawan said. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
High Growth Tech Stocks In Asia To Watch August 2025
As global markets continue to react to economic shifts, with the Nasdaq Composite reaching new heights and China showcasing robust export growth despite trade tensions, the Asian tech sector remains a focal point for investors seeking high growth opportunities. In this dynamic environment, a good stock in the tech space often exhibits strong fundamentals, innovative capabilities, and resilience against broader market fluctuations. Top 10 High Growth Tech Companies In Asia Name Revenue Growth Earnings Growth Growth Rating Accton Technology 22.79% 22.79% ★★★★★★ Shanghai Huace Navigation Technology 25.38% 24.34% ★★★★★★ PharmaEssentia 31.60% 57.71% ★★★★★★ Fositek 31.69% 39.80% ★★★★★★ Gold Circuit Electronics 26.63% 32.83% ★★★★★★ Eoptolink Technology 32.53% 32.58% ★★★★★★ eWeLLLtd 24.95% 24.40% ★★★★★★ Shengyi Electronics 26.23% 37.08% ★★★★★★ Naruida Technology 47.72% 54.38% ★★★★★★ CARsgen Therapeutics Holdings 81.53% 96.08% ★★★★★★ Click here to see the full list of 172 stocks from our Asian High Growth Tech and AI Stocks screener. Here's a peek at a few of the choices from the screener. Beijing LongRuan Technologies Simply Wall St Growth Rating: ★★★★★☆ Overview: Beijing LongRuan Technologies Inc. offers software solutions and IT services centered around geographic information systems for the coal industry, with a market capitalization of CN¥2.58 billion. Operations: The company specializes in GIS-based software and IT services tailored for the coal sector. It focuses on leveraging geographic information systems to enhance operational efficiencies within the industry. Beijing LongRuan Technologies, a standout in the high-growth tech sector in Asia, showcases robust potential with expected annual revenue and earnings growth rates of 39.4% and 68.4%, respectively, significantly outpacing the Chinese market averages of 12.7% and 23.8%. Despite a challenging past year where net profit margins dipped to 9.4% from a previous 21.5%, the company's commitment to innovation is evident in its R&D investments, aligning with industry shifts towards more sustainable growth models like SaaS which promise recurring revenue streams. The firm's strategic focus on enhancing its software solutions could well position it favorably within Asia's competitive tech landscape, promising an intriguing future trajectory despite current volatility in profit margins. Unlock comprehensive insights into our analysis of Beijing LongRuan Technologies stock in this health report. Understand Beijing LongRuan Technologies' track record by examining our Past report. Beijing Infosec TechnologiesLtd Simply Wall St Growth Rating: ★★★★☆☆ Overview: Beijing Infosec Technologies Co., Ltd. develops and provides application security products in China, with a market cap of CN¥3.80 billion. Operations: Beijing Infosec Technologies Co., Ltd. focuses on developing and providing application security products within China. The company operates in the cybersecurity sector, emphasizing the creation of solutions that protect applications from various threats. Beijing Infosec TechnologiesLtd, amidst a volatile market, demonstrates promising growth with an annual revenue increase of 16.3%, surpassing China's average of 12.7%. The company is on a trajectory to profitability within three years, bolstered by a significant projected earnings growth rate of nearly 70% annually. Investing heavily in R&D, the firm aligns with evolving industry trends like SaaS models, ensuring potential for sustained income through subscriptions. This strategic focus might cushion the impact of its currently low Return on Equity at 2.7%, positioning it well for future competitiveness in Asia's tech arena. Get an in-depth perspective on Beijing Infosec TechnologiesLtd's performance by reading our health report here. Gain insights into Beijing Infosec TechnologiesLtd's historical performance by reviewing our past performance report. Jiangsu Smartwin Electronics TechnologyLtd Simply Wall St Growth Rating: ★★★★★☆ Overview: Jiangsu Smartwin Electronics Technology Co., Ltd. manufactures and sells liquid crystal displays and display modules both in China and internationally, with a market cap of CN¥3.29 billion. Operations: Smartwin Electronics generates revenue primarily from the sale of electronic components and parts, totaling CN¥857.07 million. The company's operations focus on liquid crystal displays and display modules for both domestic and international markets. Jiangsu Smartwin Electronics TechnologyLtd, amidst a backdrop of robust sectoral growth, has outpaced many with a notable annual revenue increase of 30.4%, significantly higher than the industry average in China. With an earnings surge of 22.1% over the past year and projections set at an impressive 40.1% annual growth, the company's strategic investment in R&D is evidently paying off, positioning it well within the high-demand electronics market. Recent affirmations of a generous dividend and shareholder-focused decisions underscore its commitment to returning value while aggressively pursuing expansion and innovation strategies that could shape its trajectory in Asia's tech landscape. Delve into the full analysis health report here for a deeper understanding of Jiangsu Smartwin Electronics TechnologyLtd. Review our historical performance report to gain insights into Jiangsu Smartwin Electronics TechnologyLtd's's past performance. Where To Now? Click this link to deep-dive into the 172 companies within our Asian High Growth Tech and AI Stocks screener. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. Ready To Venture Into Other Investment Styles? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SHSE:688078 SHSE:688201 and SZSE:301106. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
