Shanghai Bureau Chief
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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.

Oct 29, 2010

China funds raise equity weighting to record high

SHANGHAI (Reuters) – Mutual funds in China have raised their recommended equity weighting to a record high, betting ample liquidity at home and abroad will push stock prices higher, the latest monthly Reuters poll of fund managers shows.

However, the stock market still faces policy risks because if inflation spirals out of control, the government could take tougher measures to tighten liquidity, some fund managers said.

Sep 16, 2010

China bank watchdog: fundraising a long-term issue

SHANGHAI, Sept 16 (Reuters) – Chinese banks should expect to
see their interest margins narrow and capital requirements
tweaked over time, meaning they may need to keep raising capital
over the next decade, a top banking regulator said on Thursday.

Wang Huaqing, vice chairman of the China Banking Regulatory
Commission (CBRC), did not specifically comment on recent reports
that the agency was considering lifting key banks’ capital
adequacy ratios (CAR) to at least 11 percent, with the option to
urge even higher ratios.

Sep 15, 2010

China’s Ningbo Port prices IPO at top of range

SHANGHAI, Sept 15 (Reuters) – Ningbo Port priced its
Shanghai IPO shares at the top of an indicative range on
Wednesday, raising 7.4 billion yuan ($1.1 billion), after the
Chinese port operator slashed the size of its float by a fifth
to whet investor appetite in a wobbly stock market.

Demand for China’s third-biggest initial public offering so
far this year was also bolstered by optimism that a rebound in
the global economy and trade from 2009′s slump will help boost
Ningbo Port’s earnings this year by at least 20 percent.

Sep 15, 2010

China Ningbo Port seen pricing IPO top of range, raise $1.1 bln

SHANGHAI, Sept 15 (Reuters) – Ningbo Port is likely to
price its Shanghai IPO shares at the top of an indicative range
on Wednesday and raise 7.4 billion yuan ($1.1 billion), after
the Chinese port operator slashed the size of its float by a
fifth to whet investor appetite in a wobbly stock market.

Demand for China’s third-biggest initial public offering so
far this year is also bolstered by optimism that a rebound in
the global economy and trade from 2009′s slump will help boost
Ningbo Port’s earnings this year by at least 20 percent,
analysts said.

Sep 13, 2010

China says to ease restrictions on foreign investment

SHANGHAI (Reuters) – China is currently in the process of revising its foreign investment catalogue to expand the number of sectors for which foreign investment is encouraged or permitted, a senior official said on Monday.

Liu Yajun, Director-General of the Ministry of Commerce’s Foreign Investment Department, told a conference in Shanghai that the revised catalogue would decrease the number of sectors that are restricted or off limits for foreign investors.

    • 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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