Posted in DATA

Chinese local governments’ special-purpose bond issuance in Oct hit highest this year, their total bond issuance so far 2021 hit new record driven by refinancing needs

Chinese local governments issued 644.1 billion yuan special-purpose bonds in October, the highest monthly level this year, according to data released by the Ministry of Finance on Tuesday. They issued a total of 876.1 billion…

Posted in DATA

China’s newborns fell 18% last year, birth rate hit new record low

Chinese mothers gave birth to only 12 million babies in 2029, down from 14.65 million in 2019, marking an 18% decline year on year and continuing the descent to a near six-decade low, while the national birth…

Posted in DATA OPINION & ANALYSIS

China’s home mortgage rates in major cities fell further in November, waiting time for loan approval shortened for first time since April

Average home mortgage rate for first-time home buyers in China’s 100 major cities declined to 5.69% in November, down by 4 basis point from the previous month, according to data from Beike Research Institute on…

Posted in POLICY & REGULATION

PBOC says difficulties in maintaining stable economic operation is increasing, stresses policy stability

China’s central bank said it would keep its prudent monetary policy flexible and targeted and strike a balance between economic growth and risk preventions, according to the third-quarter monetary policy report released by the People’s…

Posted in DATA

China’s fiscal revenue fell for second straight month, revenue from land sales declined for 4th month in a row

China’s fiscal revenue declined on year in October for the second straight month as economic recovery slows, while fiscal spending returned to growth. In particular, the government’s revenue from land sales slid for the fourth…

Posted in POLICY & REGULATION

China to guide lithium battery makers to strengthen innovation, cut back on projects for pure capacity expansion

China will guide lithium-ion battery and material companies to cut back on projects for “purely expanding production capacity”, and encourage them to step up technological innovation, improve product quality and reduce production costs, according to…

Posted in MARKET

Chinese yuan hit near six-year high against basket currencies

China’s yuan hit a near six-year high against a basket of currencies. The trade-weighted CFETS RMB Index, which tracks the yuan against 24 other currencies, hit 101.88 on Thursday, the highest level since Dec. 9,…

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Posted in COMPANY IN FOCUS MARKET

Alibaba net income plummets 87%, with first adjusted profit decline in more than five years

Chinese e-commerce giant Alibaba Group reported an 87% year-on-year decline in net income for the September quarter, missing expectations as the company increased investment in its young business. Net income fell to 3.4 billion yuan ($524 million)…

Posted in OPINION & ANALYSIS

China’s infrastructure investment remains weak, analysts say full-year growth could be lower than 1%

China’s infrastructure investment grew 1% year over year in the first ten months, slowing by 0.5 percentage points from the first three quarters, according to data released by the National Bureau of Statistics (NBS) this…

Posted in POLICY & REGULATION

Chinese exchanges further tighten rules for LGFV bond issuance

Chinese exchanges further tightened rules for bond issuance by local government financing vehicles (LGFVs), with measures including limiting quota for LGFVs from certain regions and asking some LGFVs to cut sizes of bond issuance which…

Posted in DATA OPINION & ANALYSIS

China’s new construction starts tumbled over 30% on year in October amid cash crunch in real estate sector

Chinese property developers have slashed investment amid a sector-wide cash crunch and new construction starts, a leading indicator of real estate activities, slumped by more than 30% in October from a year earlier. According to…

Posted in DATA

China’s coal output returned to growth and hit highest this year in Oct after government measures to boost production

China’s coal output returned to growth in October and hit the highest level this year after the government took a series of measures to ensure coal supply to ease a shortfall and stabilize surging coal…

Posted in POLICY & REGULATION

China’s crackdown on crypto mining continues, state-owned firms targeted

China’s top economic planner will launch a comprehensive crackdown on cryptocurrency mining, with focus on cleaning up state-owned companies’ and “industrialized and centralized” mining activities, said Meng Wei, spokesperson of the National Development and Reform…

Posted in POLICY & REGULATION

China’s top steel production hub Hebei to cut crude steel output by over 20% in this heating season

North China’s Hebei province, the country’s top steel production hub, said steelmakers will be required to implement off-peak production in the heating season from November 15 this year to March 15 next year, which will…

Posted in DATA IN-DEPTH

China’s housing market weakened further in October, 90% of major cities saw resale prices drop on month

China’s housing market weakened on all fronts in October, as declines in home prices, sales and property investments widened. Analysts say that there may be a “bottom” by early next year as authorities adjust policies…

Posted in DATA IN-DEPTH

China’s steel futures fell nearly 30% in a month, daily crude steel output in Oct hit new low since Dec 2017

China’s steel futures tumbled by nearly 30% in a month amid weakening demand and falling costs and industry insiders see more weakness in the rest of the year. China’s most-traded construction steel rebar futures contract…

Posted in DATA

China’s industrial output grew at faster pace in October, retail sale growth accelerated, while investment slowed further

China’s industrial output grew 3.5% in October from the same period a year ago, data released by the National Bureau of Statistics (NBS) showed on Monday. That accelerated from a 3.1% increase in September and…

Posted in MARKET

Several property developers announced plans to issue debt, fuelling expectation for easing financing for the struggling sector

Some Chinese property developers recently announced plans to issue debts, fuelling market expectations for easing financing amid a sector-wide cash crunch. China Merchants Shekou Industrial Zone Holdings Co., Ltd, an industrial property developer, plans to issue…