27 May 2009 | China Economic Scan
China allocates 270 bln yuan for infrastructure investment YTD, China hopes for more investment from multinationals, Shandong plans auto behemoth, Xinao gas says sales may more than double in 5 years, Chinese stocks close down on Tuesday.
Source: (here) http://www.chinaeconomicscan.com/27may09.html
26 May 2009 | China Economic Scan
Chinese rating agency launches sovereign ratings, Dalian futures exchange lists PVC futures contract, Tingyi sees 43% profit rise on noodle and drink sales, Citic Pacific to invest $2.2bln in Steel, Chinese stocks begin the week with a small increase.
Source: (here) http://www.chinaeconomicscan.com/26may09.html
25 May 2009 | China Economic Scan
ARC Investment says China’s export model is broken, HK regulator says PCCW ruling to stop vote manipulation, Intel Chinese investee eyes Shenzhen GEB listing, China to issue 16.9 bln yuan local bonds and 30 bln yuan t-bonds, CSRC says IPOs to resume after June 5.
Source: (here) http://www.chinaeconomicscan.com/25may09.html
23 May 2009 | China Economic Scan
China provides further details on stimulus spending, China considers setting iron ore price index, Zhongjin to boost gold production assets, Lenovo shares fall on record loss, Chinese stocks fall again – closing the week down.
Source: (here) http://www.chinaeconomicscan.com/23may09.html
22 May 2009 | China Economic Scan
Capital Economics says China may cut interest rates, Chinese domestic demand shows signs of picking up, Revenues of Chinese SOEs 7.3% YTD, China to issue $4bln treasury bonds, Chinese stocks close down 1.5% on Thursday.
Source: (here) http://www.chinaeconomicscan.com/22may09.html
21 May 2009 | China Economic Scan
World Bank says China recovery hopes may be premature, BoC says China-Brazil yuan trade settlement not yet practical, Chinese overseas assets rose 23% to $2.92 trln in 2008, Shenzhen Development Bank to issue RMB 1.5 bln bonds, Chinese stocks close down slightly on Wednesday.
Source: (here) http://www.chinaeconomicscan.com/21may09.html
20 May 2009 | China Economic Scan
China and Brazil said to have huge trade potential, Macao’s property transactions fall 16% in Q1, Chinalco-Rio Tinto deal gets approval from US regulator, Agricultural Bank raises $7.3bln in bond sale, Chinese stocks rise to 9 month high.
Source: (here) http://www.chinaeconomicscan.com/20may09.html
19 May 2009 | China Economic Scan
Auditor reports on spending of stimulus plan funds, China gold reserves to back Yuan internationalization, Ping An expects steady year in 09, Esprit falls in Hong Kong on EU data, Chinese stocks close up on Monday.
Source: (here) http://www.chinaeconomicscan.com/19may09.html
18 May 2009 | China Economic Scan
Hong Kong GDP falls 7.8% in Q1, China said to have IPO backlog of up to 400 companies, China reduces industrial land prices, American Dairy gains market share in China, trading of Chinese stock index futures may come soon.
Source: (here) http://www.chinaeconomicscan.com/18may09.html
China Economic Scan Weekly Economic Review – 15 May 2009
15/05/2009. Source: China Economic Scan. Callum Thomas, Managing Director, China Economic Scan
In the past week a number of key indicators of economic activity came out, painting a positive picture for economic growth in China, but CPI and PPI stats showed prices continued to fall. Among those data released were output, retail sales, food exports, and urban fixed-asset investment.
China’s consumer price index (CPI), fell 1.5% year on year in April 2009, according to the National Bureau of Statistics (NBS). Food prices (comprising a 3rd of CPI) dropped 1.3%, dragged down by a 28.6% decline in pork prices as demand plummeted on pig flu fears. Non-food prices fell 1.5%. The index was down 0.2% since March, and the YTD fell 0.8% from the same period last year.
China’s producer price index (PPI), a major measure of inflation at the wholesale level, also fell 6.6% in April year on year, according to the NBS. The decline compared with a 6.0% year on year drop in March and 4.6% in Q1 2009. Prices of production materials fell 8.1% in April year on year, the NBS said, and PPI for January-April fell 5.1% over the same period last year.
Meanwhile, China’s output rose 7.3% from a year earlier, according to the NBS, after gaining 8.3% in March, and less than analyst estimates of 8.6%. In another positive sign, retail sales grew 14.8%, above estimates of 14.5% (and 14.7% in March). The data adds to evidence that a 4 trillion yuan ($586 billion) stimulus plan is buoying domestic growth, while the global recession takes a toll on exports and related industries.
On a similar note, Morgan Stanley raised its forecast for China economic growth to 7-8% from 5% for 2009. Morgan Stanley Asia Chairman Stephen Roach said growth could fall back to 5.5 to 7% in 2010, as external demand will remain weak. “It’s premature to say China is enjoying a V-shaped recovery. I think the outcome is going to be closer to the letter W.” he said.
New orders placed with China’s shipyards fell 95% during the first four months of this year, the Ministry of Industry and Information Technology said. Orders from January to April dropped to 990,000 deadweight tons. While new orders last month reached 200,000 deadweight tons, taking total order books to 195 million deadweight tons at the end of April – 7% higher than a year earlier.
Another key indicator, China’s urban fixed-asset investment, climbed 30.5% in the first four months from a year earlier compared with a 28.6% increase in the first three months and analyst estimates of 29.1%. “Fixed-asset investment is the most important driver for economic growth this year,” said Sun Mingchun, chief China economist at Nomura Holdings.
China’s food exports reached US$2.62 billion in March 2009, up 8.9% from a year earlier, presenting the first year-on-year growth in the last five months, said General Administration of Customs (GAC). Exports of fruit led growth, rising 23.5% in March, and Seafood was up 16.2% year on year. Food exports totaled US$7.17 billion Q1, down 5.5% year on year.
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Source: (here) http://www.chinaeconomicscan.com/weekreview15may09econ.html
