China - Economic Data & News 03 (Jun 09 - Jan 10)

Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Wed Jan 20, 2010 8:03 am

China Banks Told to Halt Loans in Rest of Month, Securities Says

Jan. 20 (Bloomberg) -- Major Chinese commercial banks received verbal orders from authorities to halt new lending in the remainder of January, the China Securities Journal reported today, citing unidentified people in Beijing and Shanghai.

New bank lending in January may have already exceeded 1 trillion yuan ($146 billion) to date, the Beijing-based newspaper reported, citing unidentified banking industry analysts.

An unidentified Bank of China Ltd. official said the lender’s branch managers told sub-branches on Jan. 17 that they should in principle halt new lending, the newspaper reported.

http://www.bloomberg.com/apps/news?pid= ... 5McNhYelxM
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Wed Jan 20, 2010 11:59 am

An unidentified Bank of China Ltd. official said the lender’s branch managers told sub-branches on Jan. 17 that they should in principle halt new lending, the newspaper reported.


it could be the pantry lady who said this... since such official is "unidentifiable"...
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Wed Jan 20, 2010 12:37 pm

kennynah wrote: it could be the pantry lady who said this... since such official is "unidentifiable"...


DJ MARKET TALK:China Shrs Down; Banks Recover On Regulator Denial

0427 GMT [Dow Jones] China shares down midday but off earlier lows as banks pare losses on banking regulator's denial of China Securities Journal report saying some banks told to stop lending for rest of month. Shanghai Composite down 1.0% at 3213.17, off intraday low of 3195.28; psychological support at 3150.

Liu Mingkang, China's top banking regulator, said earlier CBRC hadn't told banks to stop lending. However, recovery in banks limited given Liu's comment on expecting new yuan loans to fall to CNY7.5 trillion this year from CNY9.5 trillion in 2009.

"The long-term prospects for the banking sector is not that rosy, given lending will slow this year anyway," says Simon Wang from Guoyuan Securities. Bank of China down 0.7% at CNY4.14, Bank of Communications (601328.SH) 1.0% lower at CNY8.76. Shenzhen Index down 1.4% at 1220.11. (FSE)

Source: Dow Jones Newswire
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Wed Jan 20, 2010 1:10 pm

:lol: :lol: :lol:
sometimes...i wonder why i even bother to read all these nonsense...
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Wed Jan 20, 2010 1:19 pm

Because things are always done verbally and there's no smoke without fire ...
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby kennynah » Wed Jan 20, 2010 1:20 pm

macam like cash undertable...without traceable cheques...ya? :D :D
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby millionairemind » Thu Jan 21, 2010 8:25 am

Published January 21, 2010

China puts the lid on rampant bank lending
Stock markets stumble as top regulator says loan growth will ease and there will be more scrutiny


CHINA'S top banking regulator yesterday indicated that bank lending will slow this year and sparked off a massive equity selloff across Asia.

Speaking in Hong Kong, Liu Mingkang, chairman of the China Banking Regulatory Commission, predicted that banks would issue a more subdued 7.5 trillion yuan (S$1.5 trillion) in new loans this year - or a rise of an annualised 16 to 18 per cent in total outstanding loans.

This is a sharp drop from the 32 per cent rise in 2009, when the supply of new bank loans hit 9.5 trillion yuan.

The staggering amount of new loans pumped out by Chinese banks last year was 'highly necessary' to support the massive infrastructure spending that was part of the government's 4 trillion yuan economic stimulus plan unveiled in November 2008, at the height of financial crisis, Mr Liu said.

'That said, we have controlled the credit growth the whole year round,' he said. In recent weeks, the People's Bank of China had started to clamp down on excessive liquidity in Chinese markets by raising banks' reserve requirement ratios and short-term debt yields over the past two weeks.

As soon as the news got out, stock markets went into freefall where the Shanghai Composite Index fell 2.93 per cent to close at 3,151.85, snapping a slow-but-steady four-day rise, while Hang Seng plunged 1.81 per cent. The Singapore market fell 0.68 per cent while Tokyo and Taiwan also retreated.

The fallout spilled over to the forex markets where the Singapore dollar weakened 0.54 per cent to $1.3964, Indonesian rupiah slipped 0.75 per cent to 9300 and the Australian dollar lost 1.46 per cent.

Last year's massive rise in bank lending raised concerns that the credit expansion would fuel asset bubbles in property and stock markets, which in turn could trigger a damaging rise in banks' non-performing loans ratios.

Mr Liu said Chinese banks had been told to guard against a rise in credit risks, adding that the regulator was raising scrutiny of second loans, in particular those relating to local state-sponsored projects, and would take action against those banks which were concentrating lending risks.


He also said that the commission had placed 190 banking institutions under better examination, although he did not name them, and said that some banks had been asked to limit lending because they had failed to meet certain requirements, including capital.

However, the CBRC head stressed that China had a large aggregate provisioning cushion: 'We are confident that the risks envisaged can be absorbed.'

On regulation, he said that the CBRC would soon issue new leverage and liquidity ratios and prevent banks from guaranteeing corporate bonds.

Mr Liu said Chinese banks 'need to get ready for the wrong kind of borrowers and the wrong kind of weather', according to some media reports.

China's central bank shocked the markets last week by raising the reserve requirements on its lenders - the first increase in 18 months. The ratio for big banks was hiked this week by 50 basis points to 16 per cent.

Major Chinese commercial banks received verbal orders from authorities to halt new lending for the remainder of January after credit was reported to have already exceeded one trillion yuan, the China Securities Journal reported yesterday, citing unidentified people in Beijing and Shanghai.

However, IMF managing director Dominique Strauss-Kahn yesterday played down fears about an asset bubble forming in China and the wider region.

But Asian countries should usher in temporary capital controls as a response to the massive amount of foreign money flowing into their economies, he told the Asian Financial Forum in Hong Kong.

Stock markets in Asia and elsewhere have been climbing for 10 months on hopes that a global economy on the mend would boost corporate profits.

But lingering problems like high unemployment and a weak housing market in the US continued to raise questions about whether the rally was excessive.

The market will be keeping a close watch for key earnings reports out this week. Bellwethers include Bank of America, eBay, General Electric, Goldman Sachs Group, Google and Morgan Stanley.
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby millionairemind » Thu Jan 21, 2010 10:02 am

“月光族”女性与中国消费
作者:英国《金融时报》 帕提•沃德米尔 上海报道 2010-01-21

高航(Gao Hang,音译)是“月光族”俱乐部的一员,这是一个非正式的中国年轻职业女性群体,她们花光每月薪水(甚至透支)来享受生活(这让零售商和信用卡发行商十分高兴)。

当中国政府表示希望促进国内私人消费时,他们心目中的消费者可能不是这些“月光族”。

但就像上世纪80年代日本“职业女性”一样,大多从事初级职位的年轻白领女性已经在为促进中国的消费贡献力量。

位于上海的中国市场研究集团(China Market Research)的小山(Shaun Rein)表示:“女性已经成为中国经济增长的主要驱动力。32岁以下的消费者实际储蓄率为零。”小山预计今年中国零售销售将增长16%至18%,主要是由女性和三四线城市的消费者推动的。
http://www.ftchinese.com/story/001030923
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby winston » Thu Jan 21, 2010 10:12 am

China's economy expands by 8.7 percent in 2009, the government says.

Source: CNN International
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Re: China - Economic Data & News 3 (Jun 09 - Jan 10)

Postby LenaHuat » Thu Jan 21, 2010 1:40 pm

三四线城市的消费者推动的。

These are suncities 太阳城,不夜城:lol: :lol:
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