Shanghai Bureau Chief
Jason's Feed
Feb 18, 2012

China home prices fall for 4th month on curbs

BEIJING/SHANGHAI (Reuters) – China’s home prices fell in January from December, marking the fourth monthly fall in a row and showing that a policy-driven property market downturn is deepening, which will add to worries about a hard landing in the world’s second-largest economy.

Average new home prices across the country dropped 0.2 percent in January from a month earlier, compared with a decline of 0.3 percent in December and a drop of 0.2 percent in both November and October, according to a Reuters weighted average home price index based on official data released on Saturday.

Jan 31, 2012

China metal firms’ profits shredded by weak property, Europe

SHANGHAI, Jan 31 (Reuters) – A host of Chinese steel
and other metals firms have flagged steep falls in their profits
for last year, as the European debt crisis and a
government-engineered slowdown in the domestic
property market whittle away at materials prices.

Heavy hitters including Aluminum Corporation of China Ltd
(Chalco) and top listed steelmaker Baoshan
Iron & Steel Co Ltd (Baosteel) are among those to
have warned that profits last year fell by around half or more.

Jan 16, 2012

Newsmaker: Long trek from clerk to chairman of China’s AgBank

SHANGHAI (Reuters) – The new chief of Agricultural Bank of China (601288.SS: Quote, Profile, Research, Stock Buzz) (1288.HK: Quote, Profile, Research, Stock Buzz) brings no-nonsense flair and a strong track record in bank overhauls to the helm of the lumbering Chinese lender where he started out years ago as a filing clerk.

Jiang Chaoliang, President of China Development Bank CHDB.UL since 2008, is to become chairman of AgBank.

Jan 16, 2012

Long trek from clerk to chairman of China’s AgBank

SHANGHAI, Jan 16 (Reuters) – The new chief of
Agricultural Bank of China brings
no-nonsense flair and a strong track record in bank overhauls to
the helm of the lumbering Chinese lender where he started out
years ago as a filing clerk.

Jiang Chaoliang, President of China Development Bank
since 2008, is to become chairman of AgBank.

Jan 11, 2012

China must reform to beat shadow lending, loan sharks

BEIJING (Reuters) – China must bring to heel an estimated $1.6 trillion shadow banking system if it is to deflate enormous asset bubbles fuelled by unregulated lending and stop small firms from getting forced to look to loan sharks for working capital.

Real estate prices that stay stunningly high despite ghost towns of empty apartment buildings and entrepreneurs fleeing gangland creditors are symptoms of China’s narrowly-based financial system.

Jan 11, 2012

Analysis: China must reform to beat shadow lending, loan sharks

BEIJING (Reuters) – China must bring to heel an estimated $1.6 trillion (1.03 trillion pounds) shadow banking system if it is to deflate enormous asset bubbles fuelled by unregulated lending and stop small firms from getting forced to look to loan sharks for working capital.

Real estate prices that stay stunningly high despite ghost towns of empty apartment buildings and entrepreneurs fleeing gangland creditors are symptoms of China’s narrowly-based financial system.

Dec 30, 2011

Yuan hits record, heads for 4.5 percent 2011 gain

SHANGHAI (Reuters) – China’s yuan headed for a strong close to 2011 on Friday, touching a record high in early trade after the central bank set the mid-point at a fresh high, putting it on course to gain 4.5 percent for the year.

The yuan’s gains for the year are in line with the 4 to 5 percent traders in the onshore market had expected at the start of the year.

Dec 29, 2011

China speeds up QFII approvals amid signs of capital outflow

SHANGHAI, Dec 29 (Reuters) – China has since October
granted nearly $1 billion in quotas for foreign institutions to
invest in the country’s capital markets following a five-month
hiatus, reflecting Beijing’s desire to encourage inbound
investment amid signs of a capital outflow.

Combined quotas granted under the Qualified Foreign
Institutional Investor (QFII) scheme in 2011 totalled $1.92
billion, the lowest since 2007, partly due to an approval freeze
between May and October, according to official data released on
Thursday.

Dec 26, 2011

China’s Mengniu says destroys tainted milk

SHANGHAI (Reuters) – China Mengniu Dairy Co Ltd, the nation’s biggest dairy firm, said it had destroyed milk found to be contaminated with a cancer-causing substance, the latest food safety problem to hit the country’s dairy industry.

Mengniu said in a statement posted on its website over the weekend that it had destroyed a batch of products at a plant in the southwestern province of Sichuan found by the government quality watchdog to contain aflatoxin, a substance produced by food fungus that can cause severe liver damage, including liver cancer.

Dec 23, 2011

EDP deal highlights China’s desire for physical assets

SHANGHAI (Reuters) – China Three Gorges Corp’s $3.5 billion acquisition of the Portuguese government’s stake in utility EDP (EDP.LS: Quote, Profile, Research, Stock Buzz) highlights China’s appetite for physical assets in troubled economies and its ability to make its bids attractive with the promise of financial support.

China is looking to pick up assets such as infrastructure and utilities in places like Europe at a bargain, rather than only buying the bonds of countries facing economic difficulties.

    • 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
    • Follow Jason