China's A-share Market Gloom and Doom as Non-tradables Loom
The steady fall of the market seems to have caught Chinese A-share investors, full of prospects of the Olympic Games and confidence in China's economy, flat footed. Loaded with stock acquired in the years of boom, many now feel deeply trapped.
China's Textile Exports Hit Hard by the Yuan's Appreciation
2008 has already been a difficult year for China's textile industry. Increasing labor costs, a rising exchange rate, and price hikes for raw materials have all helped lift the industry's production costs by 20% to 30%. Prices that seemed fair during negotiation have gradually turned into loss makers for Chinese producers as the RMB appreciates at a rapid pace.
China and US to Benefit from "Open Skies"
"Open Skies" agreements gives both countries unrestricted landing rights and makes obsolete the granting a fixed number of flights per week to a fixed destination. There are "Open Skies" agreement between the U.S. and the European Union, but China has no such agreement with the US.
Chinalco Shouldn't Hinder Our Rio Tinto Bid, Says BHP Billiton
Australian iron ore giant BHP Billiton has made it clear that it is determined to pursue its bid for Rio Tinto, the other Australian mining behemoth, and that it hopes that Chinalco, China's state-owned leading aluminum producer, would not try to hinder the merger. Chinalco is publicly opposed to the merger, and last February, in partnership with America's Alcoa, scooped up a 12% stake in Rio Tinto to get a say in the company's future.
Surging Cost of Labor a Challenge to China's "Harmonious Society" Policies
China's middle and low income earners have seen their revenues grow at close to 20% last year. While this has been regarded as a major step on the road to constructing a "Harmonious Society", it has also led to swelling labor costs and heightened inflation.
Market Turns, and QDII Fund Burns
Awash in liquidity, individual Chinese investors are as eager to invest their money in overseas stock markets as the government is to channel excessive liquidity outside the country. Both are looking for fat returns. But the learning curve is steep, and the process to success could be very long.
Collapsing Stock Slide Gives Chinese Government the Jitters
China's newly installed administration is showing its growing concern over the sudden cooling of the economy and, for the first time, is turning its attention towards avoiding economic shrinkage. China's stock market, having slumped by nearly 50%, is losing its financing function. This together with an already tight monetary policy may lead to the further slowing of China's economy.
A Good Time to Invest in the US Gives CIC Hard Time
The Chinese Investment Corporation (CIC), China's sovereign wealth fund (SWF), aims to get a 5% rate of return on its investments, this is almost the same as China's foreign exchange reserve's long-term investment in US government bonds. However, it is now grappling with making less losses.
China's Regulated Power Squeezed by Surging Coal Prices
China's ever-rising coal prices and the stalled government-controlled electricity price are putting pressure on power generators, and companies are losing money. The five biggest power producers have been urging an upgrading of the coal-electricity linkage policy for some time. The National Development and Reform Commission (NDRC) is said to be studying the question but so far coal goes up while electricity prices remain the same.
Pilot Problems Bode Ill for China's Airlines
A shortage of pilots is seriously hampering China's ever expanding aviation industry, and recent labor action by pilots for several of China's airlines is causing worries about security and stability in the aviation industry in the run-up to the Olympics in August.
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