Shanghai Bureau Chief
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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.

Nov 16, 2010

Shanghai apartment block fire death toll rises 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.

Nov 16, 2010

Bain & Co: Consolidation looms for Chinese autos

SHANGHAI (Reuters) – The rush of Chinese car makers to build more production lines in the wake of strong sales growth could lead to significant overcapacity in the world’s top auto market, triggering further consolidation, said a Bain & Co analyst.

Auto sales growth in China could slow to an average of around 13-15 percent per year over the medium term due mainly to a tapering off of government stimulus, said Raymond Tsang, a partner at Bain & Co’s Shanghai office.

Nov 16, 2010

Reuters Summit-Bain&Co: Consolidation looms for Chinese autos

SHANGHAI, Nov 16 (Reuters) – The rush of Chinese car makers
to build more production lines in the wake of strong sales growth
could lead to significant overcapacity in the world’s top auto
market, triggering further consolidation, said a Bain & Co
analyst.

Auto sales growth in China could slow to an average of around
13-15 percent per year over the medium term due mainly to a
tapering off of government stimulus, said Raymond Tsang, a
partner at Bain & Co’s Shanghai office.

Nov 16, 2010

Shanghai apartment 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 Tuesday of that such accidents may happen more often.

The minister Meng Jianzhu made the warning after inspecting the 25-storey apartment building where the fire broke out on Monday afternoon while in the middle of renovations.

Nov 9, 2010

China raises expectations of more rate rises

SHANGHAI/BEIJING (Reuters) – China signaled its intention on Tuesday to crack down on excess cash sloshing around its financial system, by unexpectedly raising the yield on bills at a central bank auction and vowing to stem hot money inflows.

The moves suggest increasing concern from Beijing about a surge in liquidity in its financial markets after the U.S. Federal Reserve’s decided on another round of quantitative easing, heralding for some analysts further monetary tightening steps sooner than had been expected.

    • 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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