Jul 28th, 2010
A lot of people have asked me to write about the recently “leaked” CBRC report on dodgy local government debt. Here is what the article in Monday’s Bloomberg had to say about it (and note especially that delicious second paragraph): Mainland banks may struggle to recoup about 23 per cent of the 7.7 trillion yuan [...]
Nov 26th, 2009
The stock market had a bad day today, with the SSE Composite down 3.62%, mainly on rumors that banks will be seeking to raise equity capital next year in response to their loan surge this year. On Tuesday Bloomberg reported that the five largest banks were supposed to have submitted plans to regulators for raising [...]
Nov 14th, 2007
Finally the numbers are in. China’s CPI was up 6.5% in October, up from 6.2% in September. This matches CPI inflation for August and, with that exception, is the highest monthly CPI inflation number since the 7.0% recorded in December 1996. On the one hand October inflation slightly exceeded the consensus forecast of 6.3-6.4%, [...]