Big Banks Profiting Atop "Made in China"
In contrast with China's export slowdown and the performance decline of domestic listed manufacturing companies, China's banking industry is seeing surprising profit growth. In the first half of the year, net profits for 14 listed banks totaled 230.026 billion yuan, an increase of 99.15% on average.
BYD's Cheap Green Cars Knocking on Developed Market Doors
At a time when Western international car makers are exploring opportunities in emerging markets, a start-up China auto company, BYD Auto, is adopting a similar strategy to explore overseas markets as domestic demand is softening due to a slow-down in the home economy.
Cell Phone Users Top 600 Million for Brisk Profit Growth
Despite a slowing economy, China's telecoms business is growing at a brisk pace. China already has over 600 million cell phone users and an increasing number of Internet users giving up their dial-up connections for broadband.
China Telecom, Unicom Struggling to Contain Behemoth ChinaMobile
After China's recent reshuffle of its telecoms companies, China Mobile has emerged as the 300 kilo gorilla in mobile communications and its rivals, China Telecom and China Netcom, are leaning on supervisory departments to erect stricter limits over the beast to curb its rapid expansion.
CIC Ready to Accept a SWF Code of Conduct
China Investment Corporation (CIC), China's sovereign wealth fund (SWF), which originally refused to accept a code of best practices being formulated by the US and other western countries for SWFs, and even labeled it "stupid," has decided to accept a new, and voluntary, code of common conduct along with the world's other major SWFs.
9% Growth May Trigger Radical Policy Rethink
In Beijing, while the debate rages over whether the government should launch a large-scale economic stimulation plan now that the Beijing Olympics have finished, there is no debate over whether China's economy is undergoing a sea change. The "high growth, low inflation" of the past five years is gone, says Zhu Baoliang, chief economist of the Economic Prediction Department of the State Information Center. Industries that have been the economy's pillars are showing weakness there are questions where future growth will come from.
Slumping Steel Demand Bodes Ill for Iron Ore, Coke Suppliers
At the China Steel Raw Materials and Fuels Summit, held recently in Xiamen in Fujian Province, falling demand for steel was the hot topic in the industry. Spot prices for iron ore and coke have also decreased after a surge.
RMB Appreciation Against the Euro Casts a Darker Shadow on Exports
Appreciation of RMB to the euro and the shadow of European economic slowing are affecting China's exports to the EU. At present, the EU is China's largest export destination. Against this backdrop, market worries about the Chinese economy are growing.
Coke Offers Big Premium for Huiyuan, Though Local Sentiment Against the Deal
Coca-Cola's $2.3 billion offer to purchase Huiyuan, China's leading fruit juice maker, would lead to the biggest foreign takeover in Asia. While heated discussion in the West is focusing on the high premium Coco-Cola will pay to acquire Huiyuan and its future plans in the pure fruit juice market, Chinese voices have been raised in resentment over the swallowing of a prominent domestic brand by a US colossus.
August CPI Growth Expected Under 6% and China Breathes Easier
With food prices pulling back, it is predicted that China's CPI growth for August will have dropped to less than 6%. International oil and domestic steel prices are also falling a bit and that will help to reduce PPI. China's battle against high inflation seems to have gained a breathing space.
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