China markets team leader, senior correspondent, Shanghai, China
Pete's Feed
May 1, 2015

China April official PMI shows factories struggling to grow

BEIJING, May 1 (Reuters) – China’s factories struggled to
grow in April as domestic and export demand remained weak,
reinforcing expectations that Beijing will roll out more
measures to support the slowing economy.

The official manufacturing Purchasing Managers’ Index (PMI)
stood at 50.1 in April, identical to the previous month’s
reading and just above the 50-point mark that separates growth
from contraction on a monthly basis.

Apr 23, 2015

China stocks hit 7-yr high, weak factory activity fans stimulus optimism

SHANGHAI, April 23 (Reuters) – China stocks rose to fresh
seven-year highs on Thursday, with weaker-than-expected factory
activity data reinforcing expectations of fresh government
stimulus.

The flash HSBC/Markit Purchasing Managers’ Index (PMI)
showed that China’s factory activity in April contracted at its
fastest pace in a year, suggesting that economic conditions are
still deteriorating.

Apr 23, 2015

China stocks hit 7-yr high despite weak factory activity; Hong Kong also up

SHANGHAI, April 23 (Reuters) – China stocks advanced to
fresh seven-year highs on Thursday as weaker-than-expected
factory activity data reinforced expectations that Beijing will
roll out more stimulus measures and keep the financial system
flush with cash.

The flash HSBC/Markit Purchasing Managers’ Index (PMI)
showed that China’s factory activity in April contracted at its
fastest pace in a year, suggesting that economic conditions are
still deteriorating.

Apr 23, 2015

China’s ‘real’ economy wants to be neither borrower nor lender

SHANGHAI, April 23 (Reuters) – Beijing is pushing trillions
of yuan into its banking system to boost business investment and
arrest slowing growth, but a combination of unwilling borrowers
and selective lenders is blunting its efforts.

As recently as Sunday the central bank cut the amount banks
must keep in reserve by a full percentage point, and it has
repeatedly lowered guidance lending rates, but weak demand means
businesses aren’t taking the bait.

Apr 22, 2015

China stocks rise to fresh 7-year high on bullish state media commentary

SHANGHAI, April 22 (Reuters) – Chinese stocks climbed to
fresh seven-year highs on Wednesday, with investors emboldened
by a commentary in state media saying the bull market “has just
begun”, and that there was no bubble.

The CSI300 index of the largest listed companies
in Shanghai and Shenzhen rose 2.6 percent to 4,739.81 points,
while the Shanghai Composite Index gained 2.5 percent to
4,398.49 points.

Apr 22, 2015

ABS market set to explode as Beijing activates idle assets

SHANGHAI, April 22 (Reuters) – Issuance of Chinese
asset-backed securities (ABS) could triple to more than $160
billion this year, reactivating huge assets now mouldering on
bank books, as Beijing streamlines procedures for firms to
securitise receivables.

By making it easier for banks to repackage and resell
receivables – such as loan repayments on mortgages, car loans
and credit cards – the government hopes to free up banks’
balance sheets so they can lend more to the real economy.

Apr 22, 2015

China stocks rise to 7-year high on bullish outlook; Hong Kong also up

SHANGHAI, April 22 (Reuters) – Chinese stocks resumed their
upward momentum early on Wednesday, hitting new seven-year highs
after a commentary in state media said the bull market “has just
begun.”

China’s bull run “has support from China’s grand development
strategy and economic reforms,” and blue chip stocks are still
“undervalued”, the article, which was published on a website run
by the official People’s Daily newspaper said. It called the
surge in share prices a reflection of China’s growth potential
and denied that it was a bubble.

Apr 21, 2015

China sees first state-owned firm default on bond

SHANGHAI (Reuters) – A power company in China failed to make an interest payment on a bond on Tuesday marking the first time a state-owned firm has been allowed to default and adding to evidence that Beijing is slowly withdrawing its sovereign guarantee of low-quality bonds.

Baoding Tianwei Baobian Electric Co Ltd (600550.SS: Quote, Profile, Research, Stock Buzz) said in a statement on the China bond clearinghouse website that it was unable to make the payment on time.

Apr 21, 2015

China set for first state-owned firm to default on bond

SHANGHAI, April 21 (Reuters) – China looks set to see its
first default by a state-owned firm after Baoding Tianwei
Baobian Electric Co Ltd said it had not raised
enough funds to make a bond interest payment due on Tuesday.

“The probability of making the payment has become highly
uncertain,” a notice posted by the company on the website of
China’s bond clearinghouse stated earlier on Tuesday

Apr 21, 2015

China stocks rise as interest shifts to small-caps; HK stocks also up

SHANGHAI, April 21 (Reuters) – Stocks in China rebounded on
Tuesday, with investor interest shifting back to small caps
as a slump in top trainmakers China CNR and CSR Corp
soured sentiment toward infrastructure stocks.

Hong Kong shares also rose, encouraged by signs that more
mainland money was flowing into the city’s markets.

    • About Pete

      "Pete Sweeney is Senior Markets Correspondent at Reuters, focused on bond, forex, interbank and equities markets. Previously editor of China Economic Review, a Hong Kong-based monthly magazine focused on providing news and analysis on the mainland economy. Sweeney came to China as a Fulbright scholar in 2008, and conducted research on Chinese business policy in Hangzhou, Harbin and Chengdu. He has also lived and worked in Belgium, Ecuador and the U.S. He speaks Chinese, at the expense of his Spanish."
      Joined Reuters:
      March 2012
      Languages:
      Mandarin, Spanish
      Awards:
      Fulbright Scholar
      Foreign Languages and Area Studies Scholar
      Boeing Merit Award
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