china

Tripling in Chinese Debt to $1.7 Trillion Drags on Economy

"Chinese companies are spending more than ever to service debt after their borrowing almost tripled over five years, prompting strategists to warn of rising default risk and a threat to economic growth. Total short- and long-term borrowing by 3,895 publicly traded non-financial companies rose to almost $1.7 trillion in their latest filings, from $604 billion at the end of 2007, data compiled by Bloomberg show. Financing costs, including interest, on all forms of debt climbed to the highest level as a percentage of gross domestic product last year, according to Sanford C. Bernstein & Co." Continue reading →

Continue ReadingTripling in Chinese Debt to $1.7 Trillion Drags on Economy

China tells U.S. to slow money printing presses

"A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar. Asked whether he was worried about the dollar, the chairman of China's sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: 'I am a little bit worried.' China is the biggest purchaser of U.S. Treasury bonds, using its enormous foreign currency reserves primarily to buy U.S. securities as a long-term investment." Continue reading →

Continue ReadingChina tells U.S. to slow money printing presses

China’s Securities Regulator Says Stock Intervention Needed at Times

"China’s securities regulator said intervention in the nation’s stock market is necessary at 'key moments' because it isn’t mature. 'Volatility is high and don’t forget, China is still a developing country,' Xinhua quoted China Securities Regulatory Commission Chairman Guo Shuqing as saying at a national securities and futures supervision meeting. Net share purchases by China’s social security fund were 42.8 billion yuan ($6.9 billion) last year and totaled 42.7 billion yuan by qualified foreign institutional investors, Xinhua cited Guo as saying. They were the biggest net purchasers, Xinhua reported." Continue reading →

Continue ReadingChina’s Securities Regulator Says Stock Intervention Needed at Times

Chinese Survivor Of Tiananmen Square Cautions Against Gun Control In America

"Massachusetts State House Firearms Rally 1/19/2013: This gentleman was kind enough to share his perspective on the second amendment and its importance in keeping us a free society. His perspective is like no other, as he has seen first hand the powerful fist of tyranny when allowed to act with impunity." Continue reading →

Continue ReadingChinese Survivor Of Tiananmen Square Cautions Against Gun Control In America

Chinese ‘re-education’ labor camps set for abolition

"It is another signal that the widely criticised system — where people can be sentenced to up to four years’ 're-education' by a police panel, without an open trial — is coming to an end. The comments come after the Communist Party’s new leader Xi Jinping said the party recognised as a 'pressing problem' that it was 'out of touch with the people'. About 60,000 people are detained in the camps, officials say, most of whom serve from six months to a year. Opponents say the camps are used to silence government critics and would-be petitioners who seek to bring their complaints against officials to higher authorities." Continue reading →

Continue ReadingChinese ‘re-education’ labor camps set for abolition

Study: Companies from emerging markets will shape global economy in next decade

"The top 100 fast-globalising companies from rapidly developing economies are outpacing their rivals from developed economies in terms of expansion, job creation and productivity, said the Boston Consulting Group (BCG) study. These companies, which it called global challengers, grew at an annual average of 16 percent from 2008 through 2011, four times the rate of their competitors in developed countries. Their average revenue hit $26.5 billion (20 billion euros) in 2011, compared to $21 billion for the non-financial companies listed on the S&P 500 stock index." Continue reading →

Continue ReadingStudy: Companies from emerging markets will shape global economy in next decade

China may cut U.S. debt holdings

"China’s sovereign wealth fund, which has more than $480 billion in assets, could cut holdings of US Treasury Bonds as they are becoming a less attractive investment, state media said Tuesday. The Shanghai Securities News quoted Lou Jiwei, chairman of sovereign wealth fund manager China Investment Corp (CIC), as telling a conference in Hong Kong on Monday that the US economic recovery had made other investments appealing. China has the world’s largest foreign exchange reserves and according to US government figures is the largest foreign holder of US Treasuries with $1.16 trillion at the end of October last year, the latest available statistic." Continue reading →

Continue ReadingChina may cut U.S. debt holdings

Chinese Internet users hit 564 million in 2012

"Tuesday’s figures showed that the number of people accessing the Internet via mobile devices in 2012 increased 18.1 percent to 420 million. The use of micro-blogging services — similar to Twitter — also surged, the report said, with the total number of users increasing by 58.73 million to 309 million. Internet use has steadily increased despite strict censorship via what is known as The Great Firewall — the country’s system of online limits and restrictions. Online shoppers in the world’s second largest economy, meanwhile, rose 24.8 percent to 242 million." Continue reading →

Continue ReadingChinese Internet users hit 564 million in 2012

GM says 2012 sales in China hit record highs

"US auto giant General Motors said that its sales in China, the world’s biggest car market, hit a record 2.84 million vehicles last year, despite the country’s slowing economy. GM’s China sales grew 11.3 percent in 2012 from 2011, which recorded the previous record of around 2.55 million vehicles, the company said in a statement. GM’s sales growth outpaced China as a whole. A Chinese industry group said Friday that China’s auto sales rose only 4.3 percent year-on-year to 19.31 million vehicles in 2012." Continue reading →

Continue ReadingGM says 2012 sales in China hit record highs

China Overtakes Sluggish Europe in Car Sales

"It's no secret that Europe's automobile industry isn't exactly booming. Several carmakers on the Continent are struggling as demand has fallen off during the euro crisis, particularly in southern European countries, where austerity programs have taken a bite out of prosperity. In China, however, more and more cars are flying off the lots. And in 2012, for the first time ever, Chinese consumers purchased more automobiles than did buyers in Europe, according to the dailySüddeutsche Zeitung, citing an unpublished report by Germany's VDA automobile industry association." Continue reading →

Continue ReadingChina Overtakes Sluggish Europe in Car Sales