Rio Tinto More Confident on Commodities Outlook
Source: Reuters Global miner Rio Tinto said it was more upbeat about the outlook for commodities as demand from China remained robust and the US was recovering. “Overall, we are somewhat more confident than six months ago,” chairman Jan du Plessis told a shareholders meeting on Thursday. “The world continues to face considerable uncertainty and...
China Approves New Yuan ETFs in Hong Kong
Source: Reuters Chinese regulators have started licensing domestic funds to create new yuan-denominated exchange-traded funds (ETFs) for sale in Hong Kong, hoping to attract fresh investors to use yuan they have accumulated offshore to invest in mainland markets. Within two weeks of announcing a RMB50-billion (US$7.9-billion) increase in the quotas for the Renminbi Qualified Institutional...
China to Boost Liquidity as Economy Slows
Source: AFP China will ease monetary policy and boost liquidity in the financial system with a series of measures, state media cited a central bank official as saying, in a bid to avoid a sharp economic slowdown. According to the official Xinhua news agency, the unnamed official at the People’s Bank of China said it...
China to Launch Crude Oil Futures This Year
Source: Reuters China is expected to begin trading in crude oil futures within the year, a senior government official said on Wednesday, as the world’s second-largest oil consumer and crude buyer aims to increase its say in oil pricing. “Within this year, China will launch an international crude oil futures market, the third such market...
China March Home Prices Fall in Most Cities
Source: AFP New home prices in two-thirds of China’s major cities fell in March, the government said Wednesday, as officials maintain policies to curb the property market. China has implemented several measures aimed at limiting runaway property prices for more than a year, including bans on buying second homes, hiking minimum down-payments and introducing property...
China FDI Signals Overseas Uptick, Policy Seen Steady
Source: Reuters China bagged foreign direct investment at a record-setting pace in the first three months of 2012, but an easing in its monthly momentum and a difficult trade outlook will keep monetary policy poised to compensate for any dip in capital inflows. The first quarter inflow of US$29.8 billion leaves China on course to...
Ex-Wall Street Bankers Bring Science to China’s Rocky Stock Market
Source: Reuters Ex-Wall Street bankers are betting science can exploit opportunities in China’s often rumour-driven stock market, with some predicting the quant-driven fund industry to grow by as much as 10-fold to RMB100 billion within a few short years. Former Goldman Sachs banker Shen Yi is confident his newly-launched RMB20-million quant fund, which trades...
China to Allow Direct Shenzhen-Hong Kong Yuan Lending: Report
Source: Reuters China will start a pilot project to allow Hong Kong banks to lend yuan directly to Shenzhen firms and vice visa, Chinese internet portal Sina.com said on Thursday, citing a government document. Direct yuan lending will be an important link between China’s onshore and offshore yuan markets and will deepen financial reforms in...
China’s Growth to Slow to 8.2 Per cent in 2012: World Bank
Source: AFP China’s economic growth will fall to 8.2 per cent this year due to slowing domestic consumption and weak external demand, before rebounding in 2013, the World Bank forecast on Thursday. The figure represents a cut in the bank’s growth forecast for China after it predicted in January that gross domestic product in the...
Most Chinese Stocks Decline on European Debt, Earnings Concerns
Source: Bloomberg Most of China’s stocks fell on concern Europe’s debt crisis is worsening and earnings growth is slowing. Chongqing-based companies sank after the city’s former top official was suspended from Communist Party posts. Chongqing Brewery Co and Chongqing Road & Bridge Co dropped at least 0.5 per cent after the official Xinhua News...
Disney to Develop Animation Productions in China
Source: AFP The Walt Disney Co, which is building a theme park in China, said Tuesday it had joined an initiative to develop Chinese animation productions. The US entertainment giant and the state-backed China Animation Group have launched a project to develop animation content for the Chinese and other markets, Disney said in a statement....
China Returns to Trade Surplus in March
Source: AFP China announced Tuesday that it recorded a trade surplus last month, reversing a massive deficit in February, but exports were still weak owing to economic woes in major overseas markets. The country recorded a trade surplus of US$5.35 billion in March, as exports rose 8.9 per cent to US$165.66 billion for the month,...
