China - Economic Data & News 06 (Jul 11 - Oct 11)

Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Fri Oct 21, 2011 11:10 am

DJ MARKET TALK:China Govt Bonds Up; Expectations Of Easing Policy

0238 GMT [Dow Jones] China government bonds are higher after data released late Thursday showed China's total national financing, a measure of growth in overall credit, declined sharply between January and September from a year earlier, fueling expectations that the PBOC needs to loosen its monetary policy in 4Q to bolster the slowing economy, says a Shenzhen-based trader with a local fund.

ING economist Tim Condon also says in a note the PBOC is likely to officially ease its "prudent" monetary policy stance to something like "neutral" by year-end.

The Shanghai Stock Exchange government bond index is at 130.26 from 130.23 at Thursday's close, and is tipped to test short-term resistance of 130.30.

Source: Dow Jones Newswire
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Sun Oct 23, 2011 1:39 pm

So what's he going to do ? Lower the RRR for selected banks ?

China's Wen says jobs a priority despite headwinds

BEIJING (Reuters) - China will make job creation a more urgent priority, in the face of slowed economic growth and weakened exports, Premier Wen Jibao said in comments published Sunday, also warning that efforts to tame housing prices were at a critical point.

While visiting the southern region of Guangxi, Wen took on the issues that have raised worries about the direction of the world's second biggest economy: inflation, weakened demand from rich economies, and the pressure to secure jobs for millions of university students and rural migrants.

Those efforts would include "ensuring an appropriate rate of economic growth" and supporting labor-intensive industries, small businesses and private firms, he said.

Welfare needs should assume a more important role in setting macro-economic policy because these needs "concern the interests of the public and social harmony and stability," Wen added.

China has 242 million rural residents who work off the farm, and 153 million of them are migrants working outside their home towns. They are joined by millions more migrants every year, hunting for work in factories and on building sites.

As well, more than six million college and university graduates entered the workforce this year.

Wen also said another plank of the government's efforts to contain price rises -- containing housing costs -- was at a crucial stage.

As of August, China had built 8.68 million units of homes for rental or sale to poorer families this year, putting it on track to fulfill its full-year goal of 10 million homes.

But echoing a widespread complaint among officials, one Guangxi official told Wen of a shortfall in financing for the affordable homes, according to the media accounts.

The premier did not hint at any backing down from affordable home targets, but indicated that commercial developers might get easier access to land for cheaper projects.

"On the one hand, we must get a grip on affordable housing construction," he said. "On the other hand, we must also increase land provision for ordinary commercial housing."

Source: Reuters US Online Report Top News

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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Sun Oct 23, 2011 5:21 pm

Previous speech say priority is jobs. This one says Inflation have to be controlled. Maybe there would be another round of cap on prices ...

China premier urges vigilance against inflation

China's Premier Wen Jiabao has called for more steps to fight stubbornly high inflation, especially surging food and housing prices which could threaten social stability, state media reported.

High inflation has persisted despite government moves to rein in soaring food and housing prices, which officials fear could spark social unrest as citizens grow angry at higher costs.

"Measures to control prices must be implemented at the grass-roots level," Wen said while on a visit to the southern province of Guangxi last week.

China has already implemented a number of policies over the past year to try to slow the rise in prices, including restricting the amount of money banks can lend and hiking interest rates five times since October last year.

Wen said the government would control food prices by ensuring adequate supply, increasing reserves of staples and cutting costs of transporting food from producers to the market.

Food prices are of particular concern in China, as they affect the daily lives of everyone in the country, with foodstuffs accounting for more than one-third of the monthly spending of the average Chinese consumer.

In September, the key food component of inflation rose 13.4 percent year-on-year, unchanged from August, though analysts expect food prices to moderate later this year on greater pork supply and a good grain harvest.

Wen also said steps to control property prices would remain in place, despite worries such measures are shutting off a major funding source for cash-strapped local governments by curbing land sales.

Since the beginning of the year, the government has banned the purchase of second homes in some cities, increased minimum downpayments for home buyers and introduced property taxes in Shanghai and Chongqing.

China plans to invest more than $700 billion in low-cost housing to help those priced out of the property market, by building or renovating 36 million homes over the next five years, the government has said.

Source: AFP Global Edition

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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby profittaker » Sun Oct 23, 2011 8:16 pm

Other than price control, Chinese Government also shrink credit growth to curb inflation.


The Myth Of the Chinese Soft Landing

Image
The Top 10 of rarest things in the world ?

10. Fine German restaurants

9. Humor and self-criticism

8. Safe biking lanes in Flanders

…

4. Proposals for public expenditures cuts in Belgium (as part of the 10Bn€ effort)

3. Reliable US statistics

2. Reliable Chinese statistics

1. Real Triple-A (AAA) countries

Last year, reliable Chinese statistics topped the list, but there are now at least 2 reliable Chinese statistics and -unfortunately- only 1 AAA country.

The two reliable Chinese statistics are : 1. Power output (electricity) 2. Money supply

Forget most of the other data in China: GDP numbers for instance are notoriously unreliable. The rumours of an economic slowdown in China have been circulating for a while. Idle buildings and capacity overhang are some of the warning signs of the Chinese economy.

But now a new and more alarming warning sign has turned on: money supply has collapsed in recent quarters. The growth of money supply is closely related with credits and hence infrastructural activity and fixed investments in general. The Chinese banks have put the brake on new loans, and as a result, activity will start to slow more markedly in coming months.

Analysts have so far stated that China will experience a soft landing. But the chart is a serious indication that there is no such thing as a soft Chinese landing.

Source:
The myth of the Chinese soft landing
Econo Shock, October 19, 2011
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Mon Oct 24, 2011 11:42 am

DJ China Prosecutor: 2 Former Officials Jailed For Leaking Economic Data

BEIJING (Dow Jones)--Two former Chinese officials have been sentenced to jail for leaking confidential economic data, the country's top prosecutorial body said Monday.

Sun Zheng, former deputy director of the secretary's office of the National Bureau of Statistics, has been sentenced to five years in prison, the Supreme People's Procuratorate said in a statement.

In addition, Wu Chaoming, former deputy director of the People's Bank of China financial history research center, was sentenced to six years in prison, the statement said.

An official from the prosecutor's office said in a press briefing that the leaked data include closely watched macroeconomic data including gross domestic product, consumer price index, and money supply.

Source: Dow Jones Newswires
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Tue Oct 25, 2011 5:22 pm

The 277 companies that have already reported third-quarter profits, out of the 963 on the Shanghai Composite, posted a 19 percent earnings increase in the period on average, trailing analysts’ estimates by 32 percent, according to Bloomberg data.

That compared with a 26 percent average gain in second-quarter earnings, the data showed.

Source: Bloomberg
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Wed Oct 26, 2011 7:17 am

How to become a world leader ?

Cannons warning over sea disputes
Wednesday, October 26, 2011

An influential newspaper warned China's neighbors with rival territorial claims to "prepare for the sound of cannons," ramping up pressure over potentially oil-rich waters off the mainland.

The Global Times, which has close links to the ruling Communist Party, said military action may be warranted if the "situation turns ugly" in the East China and the South China seas.

"If these countries don't want to change their ways with China, they will need to prepare for the sound of cannons," said the strongly worded editorial published in both English and Chinese.

"We need to be ready for that, as it may be the only way for the disputes in the seas to be resolved."

http://www.thestandard.com.hk/news_deta ... 11026&fc=4
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby kennynah » Wed Oct 26, 2011 7:22 am

singapore politics shows us that the powerful will not hesitate to bully others into submission...
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby kennynah » Wed Oct 26, 2011 7:36 am

Wen: China to Adjust Policy As Needed
By Bloomberg News - Oct 25, 2011 5:34 PM GMT


Pedestrians walk by an art installation depicting a bundle of Chinese one-hundred yuan notes in Beijing on Oct. 19, 2011. Photographer: Raul Vasquez/Bloomberg

The Chinese government will fine- tune economic policy as needed, as the nation tries to fight inflation while protecting against global economic turmoil, Premier Wen Jiabao said.

Officials will make adjustments at a “suitable time and by an appropriate degree” and will maintain “reasonable” growth in money supply, Wen said during a visit to Tianjin, according to a statement published late yesterday on the government’s website. The government will continue to make tackling inflation a top priority, Wen said.

China hasn’t raised interest rates since July, after five increases in less than a year to curb price gains that have exceeded the 2011 target every month. The pause since the last rise is the longest since the increases began.

Wen’s statement “supports our view that China’s government is likely to relax credit controls” toward the end of the year, said Qinwei Wang, China economist at Capital Economics Ltd. in London, referring to lending restrictions the People’s Bank of China has used to control the pace of borrowing in the past year.

China needs more policies to support small companies and boost the economy to overcome the global economic crisis, Wen said. A potential Greek debt default and U.S. unemployment stuck near 9 percent may threaten global economic growth; China’s gross domestic product expanded 9.1 percent in the third quarter from a year earlier, the least in two years.
Inflation Slows

China’s inflation eased to 6.1 percent in September from a three-year high of 6.5 percent in July. The government should reinforce price controls and surveillance, and ensure food supply, Wen said.


Public spending should focus on improving living standards and lending policies should ensure that industries promoted by the government receive adequate funds, Wen said.

Growth in industrial production and retail sales quickened last month, indicating sustained momentum in the world’s fastest-growing major economy. The preliminary reading of a Chinese manufacturing index released Oct. 24 was the highest in five months, adding to signs the slowdown may be stabilizing.

“Recent data make it clearer that inflation is finally moving in the right direction, opening space for policy to be eased,” said Wang of Capital Economics. The government might cut reserve requirements in early 2012, and exports and property construction may slow soon, he said.
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Re: China - Economic Data & News 06 (Jul 11 - Oct 11)

Postby winston » Wed Oct 26, 2011 7:47 am

So you think you can make money in China ?

Unfair Chinese Business Practices Threaten Profits of U.S. Businesses By David Zeiler, Money Morning

U.S. companies have become increasingly worried that unfair Chinese business practices are hurting their ability to compete and will start eating into the juicy profits they've been extracting from the Asian giant.

According to the 2011 annual survey of U.S. companies conducted by the American Chamber of Commerce in China (Amcham), a majority of U.S. businesses - 71% - said China's licensing process discriminates against foreign companies.

Last year, at a conference in Rome, General Electric Co. (NYSE: GE) chief executive Jeffrey Immelt had some particularly harsh words about China.

"I really worry about China," Immelt said, noting that his company was facing the most difficult conditions there in 25 years.

"I am not sure that in the end they want any of us to win, or any of us to be successful."

The Chinese government often requires certain foreign businesses to yield technology to their domestic Chinese counterparts as a condition of being granted access to the country.

Once China has obtained technology from Western firms, it often transfers it to the state-owned companies, which then compete against the foreign companies for future contracts - a policy that threatens the profits not just of Apple and Microsoft, but of industrial giants like The Boeing Co. (NYSE: BA), Honeywell International (NYSE: HON), and GE, as well.

http://moneymorning.com/2011/10/25/unfa ... usinesses/
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