China
Chinese government debt worrisome at 42.9% of GDP
Chinese government debt worrisome at 42.9% of GDP
However, the main problem is that the local government debt is much higher than the central government debt.
83% of fund managers bullish on Asian bonds
And over half of fund managers are bullish on Greater China equities as expectations of monetary tightening and inflationary hikes draw to an end.
China’s services PMI plunges to 6-year low of 50.6 in August
HSBC says this reflects the effect of property and credit tightening measures.
Half of Asia’s millionaires to come from China by 2015
Julius Baer says the wealth of China’s millionaires will reach a whopping US$8.76 trillion four years from now.
China’s manufacturing PMI grows to 49.9 in August
HSBC says this is the first time it rose in three months.
Asia’s GDP growth to slow down to 6.9%
UBS says the growth of small Asian economies will likely ease towards 3% next year.
China may have 9% GDP growth in 2012
And annual average of CPI inflation could be 4%.
China beats the United States as the largest PC market in the world
PC shipments in China amounted to a whopping US$11.9b, beating those of the United States by US$200m.
China’s flash manufacturing PMI rises to 49.8% in August
HSBC says recent export growth was strong, with shipments expanding by 22% y-o-y in 2Q.
Direct realty dealings in China up 13.1% in Q2 2011
And Singaporean purchasers have dominated the largest transactions with three of the five largest Chinese deals.
Don’t panic: China’s economy still stable
If GDP growth is only 8% but there is no systemic unemployment, China will be fine.
China’s CPI to be around 6% in August
And manufacturing PMI could weaken further, possibly falling below 50.
China’s inflation may have risen to 6.5% in July
DBS expects new loans to drop to CNY 598.5bn from CNY 633.9bn in the previous month.
Wilmar’s 5% price increase to pose ‘insignificant’ impact
Wilmar’s increased cooking oil prices may no longer restore its margin back to US$40/MT, says DBS.
Analyst warns Chinese banks on risk from rising local government debt
79% of China's local government debt were from bank loans, according to the National Audit Office.
Debt threat: Analyst warns Chinese government on risks from bank defaults
As more than 50% of total debt will mature by the end of 2013, Beijing will need to take action to restructure the local debt.
Midas' associate clinches two deals worth RMB3.13b
The first contract worth RMB2.15b is for the supply of 46 train sets to the Nanjing Metro Line 3 Project.
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