ChinaStakes Archive

June 2008

Hot Money Flows Accelerate into China's Reserves
Currency     June 1,2008
RMB appreciation slowed down a bit in April, but not so the flow of hot money into China.
Aftershocks Keep Sichuan, Gansu and Shaanxi Shaking
Current Review     June 1,2008
The earthquake in Wenchuan has driven 45 million people from their homes, and continuing aftershocks are making matters even worse. The aftershocks run from northwestern Sichuan north and east to Gansu and Shanxi Provinces and may continue for several months, causing many millions of people to sleep out in the open air.
Mainland China-Taiwan"Sunshining" after KMT Chairman's Visit
Current Review     June 3,2008
KMT Chairman, Wu Poh-hsiung's six-day visit to mainland China will hopefully mark a breakthrough for cross-straight relations, especially since this is the biggest sign of positive development in the bilateral relationship since it stagnated ten years ago.
Management of Earthquake Donation Tests the Chinese Government
Current Review     June 3,2008
The earthquake in Sichuan province has triggered an unprecedented wave of donations to charity across China, but how should the donated money be spent; how can this huge amount be transparently and effectively used for the earthquake relief; and how can abuses or embezzlement be avoided? These questions are being asked to a Chinese government that lacks transparency and supervision, a test of its integrity.
Earthquakes Will Drag Out China's Real Estate Industry Adjustment
Real Estate     June 4,2008
The Earthquake in Sichuan is unlikely to have a great effect on the Chinese economy as a whole, but its influence on the near and mid-term future of China's real estate industry will be pronounced.
Profit Takers Depress Chinese Telecoms' Share Prices After Reshuffle
Money & Investing     June 4,2008
Investors who have watched their China telecom industry stocks rise and rise are now profit-taking, leading to a drop of over 10% on the first trading day after the issue of the reorganization proposal of the mainland's telecoms industry. The Hang Seng Index lost 455 points on the day.
China Southern Warrant Fiasco Pushes Shanghai Exchange to Look for Remedies
Money & Investing     June 7,2008
China's depressed securities market has been driven mad by a warrants issue by China Southern Airlines (China Southern). Madness is less highly valued in China than stability, and securities companies who made a pile on the deal have faced pressure from the government to give it back.
How the God-Father of Chinese Real Estate Lost Soul on His Own Blog
Real Estate     June 7,2008
Wang Shi, chairman of Vanke, China's leading real estate developer, has had to apologize to Vanke's shareholders for the hurt caused to the company's reputation because of his "improper" comments on donations for earthquake relief. There's a lesson here for Chinese companies about how it is important to set up strict limits for the private blogs of their top management.
China's Overseas Securities Investment Burnt by Subprime Woes
Money & Investing     June 9,2008
According to the "2007 Report on the Balance of Payments" issued by the State Administration of Foreign Exchange, China's net overseas portfolio investment fell by $108.1 billion in 2007 from a total of $110.4 billion in 2006. Under the malevolent influence of the subprime crisis, China's net overseas portfolio investment totaled only $2.3 billion, a 98% drop from the previous year.
Sichuan Earthquake Sends Deep Tremors to the Market
Money & Investing     June 10,2008
Economic aftershocks caused by the Wenchuan earthquake and a string of bad news about the domestic and overseas macroeconomy have led to this round's largest single day China A-share market tumble today. Twenty weighted shares slid. Nearly 1000 stocks had dropped to the daily limit at closing, and only 25 stocks moved up. The Shanghai Composite Index closed 257 points and 7.73% down at 3072.33 points, while the Shenzhen Component Index closed at 10765.91 points, a drop of 968.07 points and 8.25%.
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