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  NEWS LETTER
Economy:
August 26th,2008
COSCO's Growth Rides on Emerging Markets
Industries    August 28th,2008
China Cosco Holdings, the world's largest bulk shipping company, reaped more than doubled profit in the first half by capturing the strong growth in the overseas emerging markets and tapping into China’s increasing domestic demand. Its subsidiary COSCO Pacific Ltd., the group’s arm of container terminal operator, is stepping up overseas expansion, to better support its parent company’s global operation.
PetroChina to Bag All of CNOG from CPNC
Energy    August 27th,2008
PetroChina is to acquire the 50% of China National Oil & Gas Exploitation and Development Corporation (CNOG) from its parent company, China National Petroleum Corporation (CNPC), that it doesn’t already hold, and will pay $11.8 billion for its new stake. It had bought its first 50% stake in the company from CNPC in 2005 for RMB 20.74 billion.
Upping Rio Tinto Stake a No-Lose Strategy for Chinalco
M&A    August 26th,2008
If BHP Billiton, the other Australian mining giant, successfully completes its proposed merger with Rio Tinto, Chinalco will profit handsomely. If the merger fails, Rio Tinto’s share price will fall and Chinalco may suffer some loss, but its intention anyway has always been to drive a stake through the heart of the merger to the perceived benefit of China's steel industry.
Chinese Central Bank's Deposit Reserve Rate Plateaus, Poised to Fall
Economy    August 26th,2008
If China decides to ease its monetary policy, the People’s Bank of China (PBoC) will likely cut banks’ deposit reserve ratio rather than or prior to interest rates. Due to China’s present economic slowdown, possibilities for interest rate hikes can basically be ruled out. 　　
Why Can't Chinese Cars Compete Internationally?
Industries    August 25th,2008
Since the beginning of 2008, with raw material costs and oil prices rising constantly and “made in China” moving into cooler weather, the Chinese car market has caught a cold and domestic brands are the biggest sneezers.
China Construction Bank Holding $3.250 billion of Fannie Mae, Freddie Mac Bonds
Banking    August 25th,2008
China Construction Bank (CCB), China’s second largest bank by assets, revealed in its half-year financial report that it is holding $3.250 billion (RMB 22.279bn) of bonds issued by Fannie Mae and Freddie Mac, the massive US home loan guarantors, amounting to 0.32% of its total assets. Although less than half of leading Hong Kong brokerage house CLSA’s estimation of $7 billion, it is still beyond industry expectations.
China, US, (or Jamaica): Who Won the Olympic Games?
Beijing Olympic    August 25th,2008
In China, the official organizing committee website and all the media have throughout the games counted up the number of gold medals won to come up with a leader/winner, which, conveniently, was China, with 51 golds to runner-up America’s 36. The US media, on the other hand, have used the total medal count to proclaim a winner, and that country, also conveniently, was the US, who, while they lagged behind in total gold, more than made up for it with silvers and bronzes, earning 110 medals to China’s 100. Next, and distant, down the list was Russia with 23 gold and 72 medals over all.
ICBC Dodging Sub-prime Woes, Brags It's “World’s Most Profitable”
Banking    August 23rd,2008
While globally banks are suffering from the sub-prime crisis and other woes, the Industrial and Commercial Bank of China (ICBC), China’s largest bank, claims to have been the world’s most profitable bank in the first half of the year.
China's Slowing Growth Hits Government Income
Economy    August 22nd,2008
The government’s income has finally taken a hit from China’s slowing growth. July revenues to central and local governments dropped by nearly 20%, making doubtful rumored economic stimulation policies such as tax cuts.
China's New Balance: Raise Energy Prices and Halt RMB Appreciation
Economy    August 21st,2008
A fallback in RMB appreciation and a jump in the price for electric power, both in the last few weeks, seem to indicate that Beijing has left RMB appreciation, at least for the moment, and is trying to balance the economy on lifted energy prices instead.

by Shen Dingli
Beijing Olympics: Never Enough Security
The Beijing Olympics will be staged in less than a month. There have been daunting security tasks t...

by Thomas Wilkins
U.S.-China Air Traffic Faces Head Winds
Only a few months ago, U.S. airlines were hungering for the China market, especially during the Olym...

by Ma Wenluo
Taiwan Moves to Revive Its Stock Market, Mainland China Pays Lip Services
The government had earlier stepped in with reforms to steady the market but, as those measures prove...

by Pieter Bottelier
Gas and Power Prices Increase to Spillover
Direct plus indirect effects of the recent price adjustment could easily exceed 0.5% of the urban CP...

by Kong Bo
Can China Have the Iranian Energy Cake and Eat It Too?
The underlying issue is China's need for energy. Blocking Chinese energy investment in one location ...


  

  

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