分类： business

Once synonymous with the steel industry, Anshan, a city in Northeast China’s Liaoning province, is now forging a new identity as the nation’s pet breeding capital. This transformation is driven by the booming ‘pet economy,’ which has reshaped the city’s economic landscape and provided new opportunities for its residents. As China prepares for the 15th Five-Year Plan (2026-30), Anshan is positioning itself as a leader in the pet industry, leaving behind its industrial past. The city’s shift began in the 1980s when the steel industry faced overcapacity, declining demand, and fierce competition, leading to widespread layoffs. Many displaced workers, like Han Zongli, turned to alternative livelihoods. Han, a former steelworker, ventured into pet breeding after a chance encounter with a customer’s dog. His success inspired others, and soon, a thriving pet-related industry emerged, offering a lifeline to thousands of unemployed workers. Today, Anshan’s pet breeding sector is a major economic force, with over 30,000 residents involved in breeding, trade, and services for purebred dogs and cats. The city supplies approximately 70% of China’s pet dogs, with an annual output of 1.5 million animals in 2024, expected to rise to 2 million this year. The industry has also expanded to other cities in Liaoning, creating a comprehensive ecosystem that includes breeding, pet products, healthcare, and cultural activities. Employing over 150,000 people and generating more than 30 billion yuan annually, Anshan’s pet industry is a testament to the city’s resilience and adaptability.

India’s exports to the United States experienced a significant rebound in October, rising to $6.3 billion, a 14.5% increase from September’s $5.5 billion. This marks the first uptick in five months, despite the continued imposition of steep tariffs by the Trump administration, including a 25% penalty on Indian purchases of Russian oil. The resurgence in trade comes as Indian state-run oil companies agreed to import more liquefied petroleum gas (LPG) from the US, and the Trump administration exempted several agricultural products from reciprocal tariffs, benefiting Indian exporters. Trade negotiations between the two nations are progressing, with key aspects of the deal nearing closure, according to an Indian official. However, India’s overall goods exports fell by 11.8% year-on-year in October, with 15 of its top 20 markets witnessing declines. Analysts suggest that tariff-exempt sectors like smartphones and pharmaceuticals may have contributed to the improved performance. Despite the October rebound, India’s exports to the US have dropped by 28.4% between May and October, erasing over $2.5 billion in monthly export value. Trade tensions appear to be easing, with India finalizing a major deal to source 10% of its annual LPG needs from the US. The Trump administration has been pushing India to reduce its reliance on Russian oil, which has become a significant market for India amid Western sanctions. While India has not officially confirmed plans to cut Russian oil imports, trade talks are advancing rapidly. Additionally, the US’s decision to roll back reciprocal tariffs on certain agricultural products is expected to benefit India’s exports by exempting approximately $1 billion worth of goods from duties.

In a surprising revelation, a new report by AidData, a research lab at the College of William & Mary, has uncovered that the United States is the largest beneficiary of loans from Chinese state banks, despite Washington’s longstanding warnings against such financial ties. Over the past 25 years, China’s state lenders have channeled approximately $200 billion into U.S. businesses, often through opaque routes involving shell companies in jurisdictions like the Cayman Islands, Bermuda, and Delaware. This secrecy has obscured the origins of the funds, raising alarms about the implications for U.S. national security and critical technologies. Much of the lending has facilitated Chinese companies in acquiring stakes in U.S. firms tied to robotics, semiconductors, and biotechnology—sectors vital to both economic and military strength. The report highlights a sophisticated and far-reaching lending network that extends beyond developing nations to wealthy countries, including the U.K., Germany, Australia, and the Netherlands. Former White House investment adviser William Henagan described the situation as a strategic game where China has gained a significant advantage, stating, ‘Wars will be won or lost based on whether you can control products critical to running an economy.’ The U.S. has historically welcomed foreign investment, but Chinese financing has drawn heightened scrutiny due to its alignment with Beijing’s strategic goals. The AidData report found that China has lent over $2 trillion globally since 2000, with a significant portion targeting critical minerals and high-tech assets in advanced economies. The lack of transparency in these transactions, often masked by Western-sounding shell companies and confidentiality agreements, has made it challenging to fully assess the extent of China’s influence. While U.S. screening mechanisms, such as the Committee on Foreign Investment in the U.S., have been strengthened in recent years, China has adapted by establishing over 100 overseas banks and branches to further obscure its financial activities. The report underscores a shift in China’s use of state credit from promoting economic development to securing geo-economic advantages, raising global concerns about its intentions to control critical economic and technological sectors.

Asian stock markets experienced significant declines on Tuesday, with major indices in Tokyo and Seoul plummeting over 3%, mirroring a broader sell-off in U.S. markets driven by artificial intelligence (AI)-related stocks. The downturn was fueled by concerns over inflated valuations of tech companies, particularly Nvidia, which is set to release its earnings report on Wednesday. U.S. futures also dipped, with the S&P 500 contract down 0.6% and the Dow Jones Industrial Average futures falling 0.4%.

Dubai’s real estate sector has undergone a transformative surge, with land transaction values skyrocketing by 403.6% between 2019 and 2024, according to JLL’s latest report, *Beyond the Skyline: Dubai’s Land Market Transformation Story*. This unprecedented growth, driven by strategic urban planning, infrastructure investment, and regulatory reforms, has positioned Dubai as a global model for sustainable urban development. From Dh13.7 billion in 2019, land transaction values soared to Dh68.8 billion in 2024, with volumes nearly tripling from 691 to 1,991 deals. The momentum continued into 2025, with Dh43 billion worth of transactions in the first half alone, marking a 42.9% year-on-year increase. Freehold areas have emerged as the standout performers, with transaction volumes growing by 495.8%, compared to 240.7% in non-freehold zones. This trend reflects investor preference for unrestricted ownership rights and validates Dubai’s strategic expansion of freehold zones, including recent conversions along Sheikh Zayed Road and Al Jaddaf. Tim Millard, Head of Value and Risk Advisory – Mena at JLL, emphasized that Dubai’s real estate transformation has global implications, offering a blueprint for markets seeking international investment. Dubai’s population has surged from 2.3 million in 2014 to over 4 million in 2025, with projections reaching 5.8 million by 2040. This demographic growth has been leveraged through strategic urban planning, with large-scale projects such as Dubai South and communities along Dubai-Al Ain Road activating peripheral zones. Prime districts like Business Bay, Downtown Dubai, and Dubai Marina continue to command premium valuations. Infrastructure spending remains a cornerstone of Dubai’s growth, with Dh39 billion allocated in 2025—nearly 46% of its annual budget—to infrastructure and construction. Regulatory innovations, including mandatory escrow accounts, blockchain-enabled property transactions, and Transit-Oriented Development rezoning, have enhanced transparency and investor confidence. Residential prices have soared, with apartments up 63.5% and villas up 116.3% since 2019, supported by a 518.5% rise in transaction activity. Commercial real estate is equally buoyant, with prime office rents jumping 76.8% and Grade A rents rising 69.9%. Mixed-use developments dominate investor interest, accounting for 27.6% of total land transaction value (Dh70.3 billion). Geographically, Business Bay (Dh11.6 billion) and Dubai Islands (Dh11.4 billion) lead the pack, while emerging corridors like Reem and Dubai South show growing traction. Premium pricing is evident in Dubai Marina (Dh1,092 per sq. ft.) and Business Bay (Dh687 per sq. ft.), while up-and-coming areas such as Arjan and Dubai Creek Harbour have seen land values surge by 379.6% and 81.4% respectively since 2019. JLL analysts assert that Dubai’s real estate boom is not cyclical but the result of deliberate, forward-looking strategies, offering both immediate opportunities and long-term lessons in value creation through integrated urban planning.