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  • Dec 20, 2014
  • Updated: 6:24pm

Chinese Economy

China money rates tumble as central bank lets cash flow in

China’s central bank allowed short-term borrowing costs to spike to close to 30 percent last month. Photo: AP

China’s inter-bank funding costs fell further on Tuesday as the central bank refrained from draining funds via its regular open market operations, and traders predicted rates would soon return to levels seen before the recent cash crunch that roiled global markets.

Tuesday, 2 July, 2013, 10:42pm

China still in early stage of weak recovery, economists say

Profits at Chinese industrial firms rose 15.5 per cent year-on-year in May.  Photo: AFP

The National Bureau of Statistics said yesterday industrial firms made a profit of 470.6 billion yuan (HK$589 billion) last month, up 15.5 per cent compared to a growth of 9.3 per cent in April.

28 Jun 2013 - 12:49am

Scalpel in hand, Chinese Premier Li stirs reform hopes

The People’s Bank of China has allowed interest rates to stay high to slow runaway credit growth and to punish banks for reckless practices. Photo: Reuters

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

26 Jun 2013 - 2:43pm

Scalpel in hand, Chinese Premier Li stirs reform hopes

The People’s Bank of China has allowed interest rates to stay high to slow runaway credit growth and to punish banks for reckless practices. Photo: Reuters

Investors getting stung by China’s worst financial market rout in years should find solace in the fact that the government, in particular Premier Li Keqiang, is willing to play hardball to force through much-needed policy change.

26 Jun 2013 - 2:38pm

PBOC approves individual outward investment pilot: report

PBOC approves individual outward investment pilot: report

China’s central bank has approved plans to launch a new pilot program allowing individual households to make financial investments overseas, state media reported on Tuesday, in the latest sign of progress towards capital account liberalisation.

26 Jun 2013 - 2:19am

Hedge fund Grandmaster sees stock market crash in China

Grandmaster Capital founder is bullish on US stocks, but predicts a sharp correction in China’s stocks. Photo: Xinhua

Former chess grandmaster-turned hedge fund manager Patrick Wolff is betting on a stock market crash in China, where he says corruption and bad debts have spiraled to dangerous levels.

21 Jun 2013 - 10:19am

China no longer just an economic juggernaut

In London, China owns 10 per cent of Heathrow. Photo: AFP

Regardless of whether the 21st century will remain an American century, authors Heriberto Araújo and Juan Pablo Cardenal have outlined in The New York Times how China is already building an "economic empire" across the globe, including the acquisition of Western iconic assets.

17 Jun 2013 - 4:23am

Rivals drawn to Latin groove

A Brazilian worker on the production line for Mexican drinks maker Del Valle. Strong trading links are building within the region. Photo: AFP

Although the Chinese and US presidents heralded a "new model" of co-operation at their weekend summit, a growing competition looks more likely. The whirlwind of activity before Barack Obama hosted Xi Jinping in the California desert revealed that Beijing's and Washington's sights are set on a similar prize - and face differing challenges to attain it.

14 Jun 2013 - 3:49am

Export growth plunges to 1pc as impact of crackdown on fraud has effect

Much of the trade through Kwai Chung and Hong Kong's other container terminals reported by mainland firms was fake. Photo: K. Y. Cheng

Exports in May rose by 1 per cent to US$182.8 billion from the same month last year, according to customs data released yesterday. The growth was far below the 14.7 per cent increase in April and also well below the 7.4 per cent estimate of economists polled by Bloomberg.

9 Jun 2013 - 6:34am

Shanghai free-trade zone edges closer

Shanghai is seeking to spur growth with the free-trade zone.

The proposals on the free-trade zone were being reviewed by the relevant ministry-level authorities in Beijing and were likely to receive the go-ahead as early as July, the state-owned Shanghai Securities News reported.

7 Jun 2013 - 3:46am 1 comment

Higher PMI reading lifts hopes of reversing China's first-quarter slowdown

Growing factory output lifts hopes of reversing first-quarter slowdown

The official Purchasing Managers' Index (PMI) rose to 50.8 from 50.6 in April, the National Bureau of Statistics and China Federation of Logistics and Purchasing said yesterday. That was higher than all estimates in a Bloomberg survey of 30 analysts and above the median projection of 50, which divides growth from contraction.

2 Jun 2013 - 6:28am

China's big spenders on infrastructure must generate better returns

China's big spenders on infrastructure must generate better returns

Fixed capital formation stands at a record high of 46 per cent of gross domestic product in China. A free bottle of Scotch goes to the first person who can show me any country with a higher ratio.

2 Jun 2013 - 3:59am 2 comments

China official PMI to show minimal growth in May

Increasingly bearish forecasts suggest that China’s economy is growing more slowly than official forecasts suggest. Photo: AFP

China’s slowing factory sector may have barely grown in May amid lacklustre local and foreign demand, a Reuters poll showed, adding to fears that the world’s second-largest economy is losing steam.

31 May 2013 - 10:11am

China business sentiment lifts in May: MNI

Economic data due out over the next few days may show that China’s economy is losing steam more quickly than official forecasts have suggested. Photo: Reuters

The pace of improvement in overall Chinese business conditions increased on a seasonally adjusted basis in May but weakened in unadjusted terms, according to the latest MNI China Business Sentiment Indicator.

31 May 2013 - 9:59am

Lending adds increasingly less to Chinese GDP, pressuring Premier Li

Observers say the mainland needs to channel more financing to its private enterprises, which are more profitable than their state-owned counterparts. Photo: Reuters

The government's broadest measure of credit rose 58 per cent to a record 6.16 trillion yuan (HK$7.8 trillion) in the January-March period, when gross domestic product gained 7.7 per cent, compared with 8.1 per cent a year earlier. Each US$1 in credit firepower added the equivalent of 17 US cents in GDP, down from 29 cents last year and 83 cents in 2007, when global money markets began to freeze.

31 May 2013 - 3:49am