Asia business news today
Here are some of the top Asia business news stories for today:
China:
- China's economy grew 6.1% in the fourth quarter of 2020, beating expectations and marking a rebound from a contraction in the previous quarter. (Source: Reuters)
- China's central bank has cut the reserve requirement ratio for commercial banks for the first time in three years, in a bid to boost lending and support the economy. (Source: Bloomberg)
Japan:
- Japan's economy contracted 4.8% in the fourth quarter of 2020, worse than expected, due to the impact of the COVID-19 pandemic. (Source: Nikkei)
- Japan's government has approved a stimulus package worth around 30 trillion yen ($280 billion) to help the economy recover from the pandemic. (Source: Japan Times)
South Korea:
- South Korea's economy grew 1.1% in the fourth quarter of 2020, driven by a rebound in exports and a recovery in domestic demand. (Source: Yonhap)
- South Korea's central bank has kept interest rates unchanged, citing concerns over the impact of the pandemic on the economy. (Source: Bloomberg)
India:
- India's economy grew 0.4% in the third quarter of 2020, marking a contraction for the second consecutive quarter due to the pandemic. (Source: Reuters)
- India's government has announced a stimulus package worth around 1.5 trillion rupees ($20 billion) to help the economy recover from the pandemic. (Source: Economic Times)
ASEAN:
- The Association of Southeast Asian Nations (ASEAN) has launched a new initiative to promote digital trade and e-commerce in the region. (Source: ASEAN Secretariat)
- The Philippines has announced plans to invest around 1.5 trillion pesos ($28 billion) in infrastructure projects over the next five years to boost economic growth. (Source: Philippine Daily Inquirer)
Technology:
- Chinese tech giant Alibaba Group has launched a new e-commerce platform in Indonesia, marking its entry into the Southeast Asian market. (Source: Bloomberg)
- South Korean tech firm Samsung Electronics has announced plans to invest around 130 trillion won ($110 billion) in its semiconductor business over the next three years. (Source: Yonhap)
These are just some of the top Asia business news stories for today. If you'd like to stay up-to-date with the latest news and trends in the region, feel free to ask me for more information!