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China Economy
China manufacturing PMI expands
by Chris Becker Just in, the official China Manufacturing Purchasing Managers Index (PMI) for September, printed an expanding 51.0, bang on expectations and only just below last months reading of 51.1 The ASX200 has reacted positively, but the AUDUSD is not impressed.
Chris Becker
10 years ago
3
Chinese land sales down 50% in the year
Cross posted from Investing in Chinese Stocks From a CREIS report, nationally, land sales in Q3 were 415.9 billion yuan, about equal to Q2, down nearly 50% yoy.
Chris Becker
10 years ago
4
China PMI moderates
by Chris Becker Straight from Markit, more to follow: “The HSBC China Manufacturing PMI was revised down slightly to 50.2 in the final reading for September from the flash reading of 50.5, and unchanged from the August reading.
Chris Becker
10 years ago
2
Hong Kong crisis due to property bubble?
by Chris Becker Are the burgeoning protests in downtown Hong Kong – where the financial district is the next target of Occupy Central – about greater democracy under the tightening “one country, two systems” crackdown by Beijing, or something as banal as property prices and high-end consumer goods?
Chris Becker
10 years ago
39
Rents in Beijing fall in September
Cross-posted from Investing in Chinese Stocks The real estate slowdown in Beijing has now hit rental apartments.
Chris Becker
10 years ago
PIMCO dares to suggest lower growth ahead
by Chris Becker One of the world’s largest funds with nearly $2 trillion under management, PIMCO, recently gave its views on the global economy and specifically China and Australia, downgrading growth forecasts for each, well below the consensus view.
Chris Becker
10 years ago
6
Chinese profits fall for 1st time in 2 years
by Chris Becker Continuing the Chinese authorities tradition of releasing important data on the weekend (oh and suppressing democracy movements, this time in Hong Kong), the industrial profits print for August showed a surprising 0.6% fall – the first such result in two years.
Chris Becker
10 years ago
1
Bad debt blowup begins in China
Cross posted from Investing in Chinese Stocks Some recent news from the past month: China ‘bad bank’ Huarong secures $2.4bn pre-listing capital Another of China’s four big “bad banks” has successfully raised pre-listing capital, with China Huarong Asset Management attracting $2.4bn from investors led by Warburg Pincus, Goldman Sachs and Malaysia’s Khazanah.
Chris Becker
10 years ago
9
Stress in China steel producers rises
by Chris Becker No, this headline from Bloomberg is not from The Onion: China Steel Mills Hawk Rebar on Alibaba to Export Surplus Tangshan Donghua Steel Enterprise Group Co.
Chris Becker
10 years ago
3
China just joking about no more stimulus?
by Chris Becker Its getting confusing reading the tea leaves regarding the Chinese economy.
Chris Becker
10 years ago
36
China cities ease lending standards, but will banks bite?
Cross posted from Investing in Chinese Stocks: The eastern port city of Qingdao said yesterday that households selling their only home to buy a new one should be considered first-home buyers as long as they’ve paid off the mortgage, broadening the scope of borrowers eligible for lower down payments and interest rates.
Chris Becker
10 years ago
3
China flash manufacturing PMI lifts
by Chris Becker The HSBC monthly flash manufacturing PMI has printed at 50.5 for September.
Chris Becker
10 years ago
8
Credit bubble collapses in Handan
Cross posted from Investing in Chinese Stocks Handan’s housing crisis is centered on illegal fundraising.
Chris Becker
10 years ago
11
China dampers perma-stimulus bulls hope
by Chris Becker In news over the weekend that is sure to make the China perma-bulls a bit nervous, Finance Minister Lou Jiwei confirmed their resolve at long term restructuring by reiterating that the country cannot rely upon continual government spending for infrastructure investment.
Chris Becker
10 years ago
12
Chinese real estate market freezes over
Cross posted from Investing in Chinese Stocks Earlier this week I posted Another Credit Guarantee Gone Bust, One Month After Backing A Trust, which covers the latest incident of a debtor fleeing his or her debts.
Chris Becker
10 years ago
1
China’s housing bust is go
Good material today from around the web on China’s deepening housing bust.
David Llewellyn-Smith
10 years ago
18
China launches breathtaking stimulus! (not)
More action from the PBOC this afternoon with the Chinese central bank cutting the 14-day repurchase rate by 20 basis points to 3.5 per cent.
David Llewellyn-Smith
10 years ago
22
Chinese home price plunge deepens
Fresh from China NBS, average new home prices fell in 68 of the 70 cities compared with July.
David Llewellyn-Smith
10 years ago
22
Deleveraging moves to China
Yesterday I described some of the reasons why the People’s Bank of China cash injection into banks was not stimulus, in part because declining credit demand is a part of the ongoing adjustment.
David Llewellyn-Smith
10 years ago
5
China’s unhappy real estate of affairs
Cross-posted from Investing in Chinese Stocks.
David Llewellyn-Smith
10 years ago
2
The SLF explained (nicely)
From CBA today: SLF is a short‑term liquidity tool The People’s Bank of China (PBoC) launched Short‑term Liquidity Operations (SLO) and Standing Lending Facility (SLF) in early 2013. SLOs, similar to regular Open Market Operations (OMO), are repurchase operations with a maturity of less than seven days.
David Llewellyn-Smith
10 years ago
1
Li: China to pursue “new urbanisation”
From Xinhua: To maintain China’s economy at a medium-to-high growth speed and upgrade it to the medium-to-high end, China must bring the “new-type urbanization” program, a strong engine, into full play, said Li at a meeting on urbanization.
David Llewellyn-Smith
10 years ago
8
China stimilus or not?
From Citi: Cyclical Policy Not Lessening Property-Sector Drag; Trimming Growth Forecasts Distinguishing between cyclical easing and stimulus – The property sector correction has complicated Chinese authorities’ efforts to balance between growth and reform.
David Llewellyn-Smith
10 years ago
4
China housing a “bubble on eve of destruction”
Cross-posted from Investing in Chinese Stocks.
David Llewellyn-Smith
10 years ago
42
A trip to China yields gloom
From ANZ FX: We spent last week in China (Beijing and Shanghai) seeing a range of banks, investors, commodity houses, government agencies, commentators, analysts, and journalists.
David Llewellyn-Smith
10 years ago
9
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