Shanghai Bureau Chief
Jason's Feed
Dec 26, 2010

Q+A: How will markets respond to China’s rate rise?

SHANGHAI/HONG KONG (Reuters) – China’s central bank raised interest rates on Christmas Day, moving sooner than many analysts and market participants had expected to ramp up its campaign to combat inflation.

Many observers had thought the People’s Bank of China (PBOC) might hold off in raising rates for a second time since mid-October until at least the new year, especially after Chinese money market rates spiked last week, meaning many investors will have been taken off guard by the latest step.

Dec 23, 2010

China money market rates jump, may delay tightening

SHANGHAI, Dec 23 (Reuters) – China’s benchmark money market
rate jumped 149 basis points to a fresh more than two-year
high on Thursday, as traders cited an acute shortage of funds
after a
slew of official tightening steps.

The weighted average seven-day government bond repurchase
rate rose to 5.6789 percent at 0400 GMT from
4.1868 percent at the close on Wednesday, after having
repeatedly hit more than two-year highs since late November.

Dec 15, 2010

Time to fear China inflation? Not yet, say multinationals

BEIJING/SHANGHAI (Reuters) – China’s latest inflation figures may have sent a ripple of fear through global markets, but at many of the multinationals betting on the country’s fast-growing consumer market, executives remain surprisingly unruffled.

The reasons vary but boil down to an essential point — costs in China might be rising but economic growth, and thus sales, should more than make up for it.

Dec 15, 2010

Time to fear China inflation? Not yet, say

BEIJING/SHANGHAI (Reuters) – China’s latest inflation figures may have sent a ripple of fear through global markets, but at many of the multinationals betting on the country’s fast-growing consumer market, executives remain surprisingly unruffled.

The reasons vary but boil down to an essential point — costs in China might be rising but economic growth, and thus sales, should more than make up for it.

Dec 13, 2010

BNP Paribas China fund JV to launch HK funds soon

SHANGHAI (Reuters), Dec 13 – HFT Investment Management Co, a Chinese fund venture of BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz), plans to launch its first offshore funds through its new Hong Kong subsidiary within three months to accelerate international expansion, its chief executive said on Monday.

HFT Investment also hopes to launch its second overseas investment fund for mainland Chinese investors under the country’s Qualified Domestic Institutional Investor (QDII) scheme within a month, CEO Tian Rencan said at the Reuters China Investment Summit.

Dec 13, 2010

SocGen to hire for China M&A team

SHANGHAI (Reuters), Dec 13 – French bank Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz) wants to tap its global strength and Chinese firms’ ever-growing appetite for natural resources in its push to grow its business in China, a senior executive said on Monday.

The bank plans to hire staff for its investment banking operation in China over roughly the next year to focus on outbound acquisitions in the resources and energy sector, said Pascal Sefrin, head of corporate and investment banking for the French bank in China.

Dec 9, 2010

PBOC signals bank reserve rise, not rate hike

SHANGHAI (Reuters) – The Chinese central bank’s actions in its open market operations in the last few weeks suggest another increase in banks’ reserve requirement ratios could be due soon — and investors should not fret too much about the impact that will have.

The People’s Bank of China (PBOC) has all but put its regular money market operations on hold, selling very small volumes of sterilisation paper and thus allowing a net 230 billion yuan ($34.5 billion) in cash to flow back into the system in the form of maturing bills and bond repurchase agreements in the last four weeks.

Nov 29, 2010

China data shows capital inflows near record high

SHANGHAI (Reuters) – A set of data published by the People’s Bank of China, called the “Position for Forex Purchases”, showed capital flowing into the country jumped in October and approached its historical high, reinforcing the government’s rationale for a slew of monetary tightening steps since October.

The central bank and Chinese institutions spent 519 billion yuan ($78 billion) to absorb foreign exchange flowing into China in October, about double the 290 billion yuan in September and 243 billion yuan in August, according to Reuters calculation based on the latest data published by the central bank over the weekend.

Nov 23, 2010

JPMorgan fund JV says China stocks to bottom next yr

SHANGHAI, Nov 23 (Reuters) – China’s stock market, pushed
lower by Beijing’s monetary tightening moves, may retreat
further, but investment opportunities will emerge when the
economy stabilises next year, JPMorgan Chase & Co’s (JPM.N: Quote, Profile, Research, Stock Buzz)
Chinese fund joint venture said on Tuesday.

Stocks that stand to benefit from government support for
domestic consumption and innovation could be safe bets for now,
while buying opportunities in traditional sectors such as
resources would come during the first half of next year, said Luo
Jianhui, fund manager at China International Fund Management Co.

Nov 16, 2010

Shanghai blaze death toll climbs to 53

SHANGHAI (Reuters) – At least 53 people have been confirmed killed in a fire that gutted a high-rise apartment in China’s commercial hub Shanghai, and the minister of police warned on Tuesday of that such accidents may happen more often.

The minister Meng Jianzhu made the warning after inspecting the 28-storey apartment building where the fire broke out on Monday afternoon while in the middle of renovations.

    • About Jason

      "Jason leads Reuters' coverage of China's financial markets from Shanghai. Prior to moving there at the start of 2010, he reported on the Chinese economy and policy from Beijing, where he lived for a decade."
      Joined Reuters:
      2005
      Languages:
      Mandarin, German
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