A Chinese tourist in Thai traditional dress poses for pictures at Wat Arun Ratchawararam Rathawaramahawihan in Bangkok on Jan 17. BLOOMBERG/GETTY IMAGES
China's stimulus measures will have a positive spillover effect on Southeast Asia, with the region's tourism and export sectors expected to benefit from increased Chinese spending, analysts said.
"The pledge of swift and forceful fiscal stimulus by Beijing is welcome news to ASEAN economies," Erica Tay, an economist at Malaysia-based Maybank Investment Banking Group, told China Daily.
ASEAN refers to the Association of Southeast Asian Nations, a 10-member regional grouping.
On Sept 24, China's central bank announced a raft of measures aimed at boosting the nation's economy and spurring consumer spending. The steps included a cut in the reserve requirement ratio of commercial banks, lowering a key interest rate and reducing mortgage rates on existing home loans. The measures led to a spike in global commodity prices and triggered a rally in stock markets.
The Malaysian ringgit, which is one of the best-performing Asian currencies this year, hit a three-year high following the Chinese central bank's announcement. Stock prices of Chinese companies listed on the Singapore bourse surged, along with similar moves on other exchanges.
But for the ASEAN region, which considers China as its biggest trading partner, a key source of investments and tourists and a huge market for export goods, the impact of China's stimulus package goes beyond the stock price rally.
Fillip to spending
"Positive sentiment from the news flow may benefit Chinese consumer spending and tourism demand," Tay said. She said this will spill over to economies popular with Chinese holidaymakers, such as Thailand, Malaysia and Singapore.
Thailand, ASEAN's most popular travel destination, was expected to welcome more than 180,000 Chinese tourists during the Oct 1 to 7 Golden Week holiday. The Tourism Authority of Thailand has estimated that Chinese spending over the weeklong holiday will bring over 5 billion baht ($151 million) in tourism revenues.
Asia Plus Securities expects more Chinese tourists to visit Thailand thanks to the stimulus.
The Bangkok-based brokerage said in a research note that the Chinese stimulus will be a boon to the Thai export sector as China is Thailand's second-biggest export market.
Josua Pardede, chief economist at the Jakarta-based PermataBank, said the substantial stimulus from Beijing is targeting not only the domestic supply side but also the demand side which can lead to higher multiplier effects on the overall economy.
Pardede said "the strong trade and industrial sector linkages" between Indonesia and China will ensure that the stimulus will support Indonesian export growth and foreign direct investment inflows.
"If global sentiment regarding China's economic outlook improves, investors are likely to adopt a risk-on stance toward the Asia-Pacific region, including Indonesia. As a result, there is potential for increased inflow into Indonesia's portfolio market, which would ultimately help maintain the stability of the rupiah," he said, referring to the Indonesian currency.
刘德华新片撤档背后：巨亏巨冒险 春节档迎来“撤档潮”。 2024年2月17日，电影《八戒之天蓬下界》发布声明退出春节档，延后上映。该片上映至今，累计票房323.2万元。 这并非个案。2月16日晚，电影《红毯先生》在 越来越多国人选择旅游过春节 “南北互换过年”备受欢迎 证券时报记者 周春媚 甲辰龙年为期8天的春节长假，成为了近年来最为火爆的春节旅游假期。 各地景区张灯结彩、人山人海，迎来客流高峰。迎春灯会、 中新经纬2月19日电 (熊思怡)19日24时，国内成品油新一轮调价窗口将开启。机构普遍预计，本次成品油零售限价调整将搁浅。 本周期横跨春节假期前后，原油市场整体偏强运行。截至上周五(当地时间2月16日)收盘，WTI 3月原 锦绣中国年 | 天津重点监测商贸企业春节假期销售额同比增11.2% 中新网天津2月18日电 (记者 王君妍 通讯员 王 张欣悦)今年春节假期为期8天，是一个“超级假期”，消费市场火爆程度也尤盛往日。记者从天津市商务局 2月19日至22日，以“文化艺术交流中俄世代友好”为主题的中俄文化艺术交流周暨冰雪旅游消费季活动在黑龙江省鹤岗市举行，由160名俄罗斯青少年组成的代表团应邀来到鹤岗，与中国青少年开展了一系列 实习期“双向侵权”如何破解？ 劳动时间长，拿到的报酬却很微薄；实习岗位上受了伤，无法获得工伤赔偿……权益受侵害难维权，让职校生实习遭受到多方诟病。与此同时，用心培养后很难留住优秀实习生，付出的人力物力“竹 。本文链接：China stimulus to benefit SE Asiahttp://www.sushuapos.com/show-5-28966-0.html
声明：本网站为非营利性网站，本网页内容由互联网博主自发贡献，不代表本站观点，本站不承担任何法律责任。天上不会到馅饼，请大家谨防诈骗！若有侵权等问题请及时与本网联系，我们将在第一时间删除处理。
上一篇： 新疆 顶风踏雪 边防官兵巡逻55号界碑
下一篇： 文化中国行 翼舞苍穹 黄渤海上的生命乐章