China macro and markets teams leader, chief correspondent, Shanghai, China
Pete's Feed
Nov 8, 2015

Chinese trade disappoints, clouding economic outlook

BEIJING (Reuters) – China’s trade figures disappointed analyst expectations by a wide margin in October, reinforcing views that the world’s second-largest economy will have to do more to stimulate domestic demand given softness in overseas markets.

While Beijing has repeatedly cut interest rates, the latest data showing an eighth monthly drop in net trade indicates persistent weakness in demand at home and abroad.

Nov 5, 2015

China stock market rally drives volumes to 3-month high

SHANGHAI, Nov 5 (Reuters) – Mainland Chinese stock markets
extended their gains on Thursday as investors jumped into
blue-chip shares, driving transaction volumes to their highest
levels in more than three months.

The CSI300 index of the largest listed companies
in Shanghai and Shenzhen closed up 2.1 percent to 3,705.97,
while the Shanghai Composite Index gained 1.9 percent,
to 3,522.82 points, both backing off from intraday rises of
around 4 percent.

Oct 29, 2015

Deutsche Boerse steals march on London with new China venture

HONG KONG/BEIJING, Oct 29 (Reuters) – Two Chinese exchanges
and the country’s foreign exchange trading operator formally
agreed to establish joint ventures with Germany’s Deutsche
Boerse AG on Thursday.

The deal, signed in Beijing at a ceremony overseen by
Germany’s Chancellor Angela Merkel and China’s Premier Li
Keqiang, marks a boost for Frankfurt, which appears to have
stolen a march on London in connecting its exchanges to China.

Oct 26, 2015

Chinese financial markets cautiously applaud rate cuts

SHANGHAI, Oct 26 (Reuters) – China’s major financial markets, including stocks, bonds and
currency, adjusted cautiously to Friday evening’s policy easing, but trading volumes were
subdued, indicating some wariness over uncertain economic fundamentals.

The PBOC late on Friday said it was lowering the one-year benchmark bank lending rate by 25
basis points to 4.35 percent, effective Oct. 24.

Oct 25, 2015

A China twist: why are malls closing if consumption is rising?

SHANGHAI/HONG KONG, Oct 26 (Reuters) – The Di Mei shopping
centre in downtown Shanghai is a surprisingly depressing place
to shop.

The underground mall is located in one of the most
shopping-mad cities in China, and yet it is run down and starved
of customers.

Oct 21, 2015

Beijing’s forceful moves prompt traders to change weak yuan views

SHANGHAI, Oct 21 (Reuters) – Sustained intervention by
China’s central bank and policy changes are prompting traders to
change their views and raise year-end targets for the yuan,
after its surprise devaluation in August sparked fears the
Beijing wanted a sharp fall.

The moves by the People’s Bank of China (PBOC) were prompted
by market panic after the devaluation. The yuan dropped around 3
percent against the dollar in a few days.

Oct 19, 2015

Despite slump, some Chinese stock investors tiptoe back into market

SHANGHAI, Oct 19 (Reuters) – After months trying to convince
investors to come back to China’s battered stock markets, there
are signs authorities may be getting their wish as money starts
flowing back in.

China’s benchmark Shanghai stock index is still a
third below its June peak, but there are unquestionable signs of
life in the market.

Oct 18, 2015

Beijing promotes low-paid college grads to startup CEOs

SHANGHAI, Oct 18 (Reuters) – Quitting her job as
receptionist, joining rock bands and chancing her tattoo-sleeved
arm at small business ventures would once have branded college
graduate Ding Jia as a rebel in China. Now she can claim state
endorsement as a “creative”.

“I haven’t had a formal job in years,” said Ding, 31,
sitting in her tiny coffee and cocktails bar on a trendy
Shanghai street.

Oct 13, 2015

China economic picture remains cloudy as Sept export fall eases, imports slump

BEIJING/SHANGHAI (Reuters) – China’s exports fell less than expected in September, with monthly figures showing recovery, but a sharper fall in imports left economists divided over whether the country’s ailing trade sector is showing signs of turning around.

On the surface, the trade data on Tuesday reinforced views that the world’s second-largest economy is still slowly losing momentum, putting more pressure on Beijing to roll out further stimulus measures and keeping global markets on edge.

Oct 13, 2015

China September exports fall less than expected, imports slump for eleventh month

BEIJING/SHANGHAI (Reuters) – China’s exports fell less than expected in September, with monthly figures even showing signs of a mild recovery over the summer, but a hefty drop in imports may keep pressure on policymakers to do more to stave off a sharper economic slowdown.

Exports fell 3.7 percent from the same period last year, less than a drop of 6.3 percent forecast by economists in a Reuters poll and a 5.5 percent decline in August.

    • About Pete

      "Pete Sweeney is Chief Correspondent for China Economy and Markets for Reuters, running teams in Shanghai and Beijing. 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
      Mandarin, Spanish
      Fulbright Scholar
      Foreign Languages and Area Studies Scholar
      Boeing Merit Award
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