Category: NEWS

Posted in NEWS

“Double 11” sales hit new record this year, while growth pace slowed

This year’s “Double 11” Shopping Festival saw sales grow at a slower pace after e-commerce platforms toned down the marketing hype amid regulatory tightening and as China’s overall consumption slows down. Alibaba Group saw 540.3 billion yuan…

Posted in MARKET NEWS

China’s food producers hike prices amid rising material prices, energy curbs

Several leading food producers in China have announced price hikes up to 18% after surging material prices and energy curbs push up production costs. Foshan Haitian Flavouring & Food Co. Ltd, the country’s largest sauce producer,…

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Tencent launched self-designed chips in expansion drive

Tencent Holdings launched three new self-designed chips on Wednesday, as the internet giant seek to play a role in boosting development of the country’s semiconductor sector and to further expand beyond video gaming, mobile payments and social media. “Chips are the key components of…

china vegetable prices
Posted in MARKET NEWS

China’s vegetable prices surge as heavy rains hurt major growing regions

Vegetable prices are surging in China after heavy rains hit major growing regions and soaring energy prices also boosted production costs. Wholesale vegetable prices surged 28 per cent in the four weeks through until October…

Posted in IN-DEPTH NEWS

Chinese electric vehicle battery makers hike prices amid surging costs

Chinese automobile and battery maker BYD Co Ltd reportedly plans to raise prices of major battery products by at least 20 per cent due to surging raw material costs, effective from November 1, according to…

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China can achieve steel output cut target this year, steelmakers’ profits more than doubled in first nine months – industry body

Chinese steelmakers’ net profit more than doubled in the first nine months of the year and the steel industry is able to achieve this year’s production cut target, according to the China Iron and Steel…

Posted in MARKET NEWS

China Evergrande paid $83.5 million of overdue offshore bond coupon before 30-day grace period ends

China Evergrande Group paid the $83.5 million interest payment on its offshore bond, just before a 30-day grace period runs out for declaring it in default. The world’s most indebted developer wired the payment due…

Posted in NEWS

More regions move to float power prices amid energy shortage

China’s East Zhejiang province is the latest local government to raise electricity prices and change peak-demand hours following Beijing’s announcement it would liberalise electricity pricing in response to China’s power crisis. The move follows in…

Posted in NEWS POLICY & REGULATION

PBOC on China Evergrande, real estate sector, Q4 liquidity

Chinese central bank on Friday tried to sooth market concerns over debt woes at embattled China Evergrande Group and other property developers, saying the spillover effect for the banking system is controllable. Financial institutions’ risk…

Posted in DATA NEWS POLICY & REGULATION

Land market in Beijing turning cold, land sales in latest auctions nearly halved from five months ago

Land market in China’s capital of Beijing is turning cold as real estate developers face tight financing and slowing home sales. Among the 43 land parcels offered for the second round of land auctions this…

Posted in NEWS OPINION & ANALYSIS

China’s land sales revenue set to grow slower, adding fiscal pressure on local governments

China’s land sales revenue is expected to slow down and that will add fiscal pressure on local governments with high reliance on land sales and heavy debt loads. Moody’s Investors Service said in a report…

Posted in NEWS POLICY & REGULATION

One more Chinese city introduced reference prices for second-hand homes

One more Chinese city introduced reference price mechanism for second-hand home transactions in the latest move to tame home price growth and curb risks in the housing market. Housing authority in Dongguan city, South China’s…

Posted in NEWS POLICY & REGULATION

PBOC chief vows more effort to curb tech monopoly, protect consumer data

China will continue curbing on monopolistic behaviours in the internet sector and protect consumer data and meanwhile vowed to support the healthy development of the private economy, the internet sector and the digital economy, said…

Posted in BRIEF NEWS

China to boost standard-setting in key technologies to bolster innovation – State Council

China aims to boost standard-setting in many key technological sectors, including high-speed rail, new-energy and smart vehicles and robots, as part of efforts to bolster innovation, opening-up and high-quality growth, according to a plan jointly…

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China told coal miners in Inner Mongolia, Shanxi to immediately step up production to ease coal shortage, power crunch

China’s two largest coal production hubs has asked coal miners to step up production immediately to ease a power crunch caused by a coal shortage. However, analysts say that coal shortage will remain in the…

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Another Chinese property developer defaulted on offshore bond

Chinese property developer Fantasia Holdings Group has failed to repay $205 million of debt due on Monday, adding to fears about the financial health of the country’s massive real estate sector after the liquidity crisis at…

Posted in DATA NEWS PREMIUM

Home mortgage rates in some Chinese cities decline after climbing for months

Home mortgage rates in some Chinese cities decline recently after climbing for months, which some believe is a signal of easing mortgages after top financial regulators pledged twice in a week to maintain housing market…

Posted in NEWS OPINION & ANALYSIS

PBOC injects liquidity via reverse repo for 10 straight days, analysts see lower chance for RRR, rate cut in coming months

Chinese central bank injected liquidity to the banking system via reverse repurchase agreements for ten consecutive days to meet cash demand prior to the week-long National Day holidays. Market watchers believe the central bank’s open…