ChinaStakes Archive

December 2008

Laid-off Migrant Workers Test China's Fragile Social Security System
Current Review Social Security     December 1,2008
A wave of unemployment among migrant workers, triggered by the closure of many of China's financially straitened factories, is testing the country's fragile social security system.
New BYD Hybrid Gets Jump in Electric Car Wars in China
Corporations     December 1,2008
After five years of toiling in the alternative energy trenches, Biyadi (BYD) is set to introduce its new model, the F3DM plug-in hybrid car. With this launch, BYD will reach the hybrid market, will indeed originate it, two to three years earlier in China than the overseas auto giants. For the first time, a Chinese automaker is leading in auto technology and China's electric car market may become the new battlefield of global car producers.
Looming Deflation Hints at More Monetary Loosening
Economy     December 2,2008
According to figures released by several agencies, year-on-year CPI and PPI growth in November will probably decline below to 3%, a possible signal that deflation has begun to show. Analysts say CPI may go negative for several months next year and that the price drop will give room for the further relaxation of monetary policy.
After Mumbai Attack, Is China Ready?
Current Review     December 2,2008
Is China ready for terrorism after the terrorist attack in Mumbai, in China's neighboring country India? Tens of thousands of foreign invested enterprises in China, as well as the Chinese government and its citizens, are eager to know the answer
What's Up with this RMB Depreciation?
Currency     December 2,2008
It appears that the RMB is approaching a period of depreciation, and Beijing must be readying itself against what is surely to be a storm of protest from foreign (particularly US) markets and politicians. But it would be worth while to look into the reasons for the possible drop in RMB value. Is this a dark plot by the Chinese government to kick foreign economies when they are down, or what? A perusal of the facts might give some guidance.
China to Subsidize Computer, Appliance Sales to Farmers
Economy     December 2,2008
A joint home appliance promotion, by the Ministry of Finance and the Ministry of Commerce, covering TVs, refrigerators, washing machines, and cell phones, was launched in rural areas in 14 provinces yesterday. The two ministries are planning to add computers into the rural promotion list, and are now contacting key PC manufacturers.
RMB Depreciation Raises Worries Over Capital Outflow
Currency     December 3,2008
China's currency, the RMB, dropped to daily limit on both of the first two days, and touched the daily limit on third day of December, to the surprise of the market, which is now in dispute over whether RMB, about the only currency that has maintained a strong position against USD in the second half of the year, is approaching a period of depreciation and whether depreciation will lead to large-scale capital outflow.
MoC Checks Foreign M&A Concerns as Coke/Huiyun Starts Anti-Monopoly Procedure
Regulation     December 3,2008
Foreign M&A in China in recent years has triggered at least concern over industry security, at worst economic nationalism. But the result of an investigation by the Ministry of Commerce (MoC) shows foreign companies' M&A activities in China have not harmed the country's industry security.
Japanese-Type Monetary Policy Haunts Strategic Eco
Economy     December 3,2008
Japanese monetary policy reminiscent of the zero interest rate environment of recent past haunts the forthcoming meeting of the Strategic Economic Dialogue in Beijing.
Chinese Carmakers "Unlikely" to Buy GM Pieces, at the Moment
M&A     December 4,2008
It is reported in the foreign press that Dongfeng Motor Corporation (Dongfeng), China's third largest automobile group, is planning to acquire brands of GM. Hu Xindong, Secretary to the Chairman of Dongfeng, was quoted as saying they have been contacted by financial groups which have close relationships with GM. But the Chinese automaker is highly unlikely to do so as long as any acquisition was tied to the powerful United Auto Workers trade union.
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