|Top 10 Daily Business China News Alerts 05/08/2015|
|by Tom McGregor||Thu, May 7, 2015, 07:49 PM|
Stay Updated on Real China Business News at Real Time
NEW DELHI: India's Prime Minister Narendra Modi has played down fears over China's growing regional clout ahead of his landmark trip to Beijing, saying the rival Asian powerhouse has a “right” to seek greater influence. While ties between the nuclear-armed nations have long been strained over a bitter border dispute, China's recent push to forge closer ties with countries in India's backyard has caused some alarm in New Delhi.
2. China, Thailand pledge to advance cooperation in railway, tourism
Thai Prime Minister Prayut Chan-o- cha and visiting Chinese State Councilor Yang Jing on Thursday pledged to push forward Sino-Thai cooperation in various fields such as railway development and tourism. While meeting with Prayut, Yang said that China-Thailand relations have maintained a good momentum of development, with frequent high-level exchanges and continuous deepening of pragmatic cooperation.
3. When It Comes To Banking, China Is Number One
It stands to reason that China is home to the biggest banks in the world, and that all of them are state-owned. The country has been going through an envious growth spurt over the last 20 years. And despite a problem here and there with smaller asset management divisions on the municipal level, China banks are number one. And two, and three and four. Beijing’s fixed asset investment plans have helped. But so has local demand from Chinese businesses.
4. Japan overtakes China as #1 U.S. creditor
JAPAN - In February, a milestone occurred with regard to foreign holders of U.S. debt: Japan surpassed China as the world’s largest creditor to the United States. This marks the first time since the financial crisis that China has not been the largest foreign holder of U.S. Treasuries. Japan now holds $1.224 trillion in U.S. Treasuries, slightly more than the $1.223 trillion held by China. The Federal Reserve is the world’s largest holder of Treasuries. Its holdings exceed $2 trillion, up from just $755 billion in 2007 due to the Fed’s quantitative easing (QE) bond-buying program that was initiated to boost the economy after the financial crisis.
5. GM China sales fall in April, Ford's flat
In the latest sign that growth in the world's largest market are slowing General Motors and its joint ventures sold 258,484 vehicles in China last month, down 0.4% from April 2014. Ford reported sales of 96,889 in the month, just 60 above the year ago level.
6. China Taiping Insurance Plans to Raise $1.7 Billion in Private Share Sale
China Taiping Insurance Holdings Co. plans to raise HK$13.5 billion ($1.7 billion) in a private share sale after its stock price more than doubled in the past year. The insurer will sell 486 million shares at HK$27.74 a piece, representing 13.5 percent of the share capital after the placement, according to a statement posted to the Hong Kong stock exchange. The stock closed at HK$29.20 on May 4, ahead of a trading suspension that ended on Wednesday.
7. China Auto Logistics Has Pumped And Now Expect It To Dump
China Auto Logistics, Inc. (NASDAQ:CALI) is a company based in Tianjin, China that purports to sell and trade in imported automobiles in the People's Republic of China. We believe CALI offers an opportunity to the short side, as shares have recently seen an influx of volume and a price spike that we believe can be attributed to recent promotion. We believe that shares of CALI will eventually reverse course and wind up heading back towards the $1.20 level, where it traded before the recent move up.
8. IPOs, repo squeeze bring down China A-shares
China’s A-shares have fallen by 8.2% during the past three sessions as margin buyers reduced position in anticipation of tighter regulation and investors raised cash in advance of IPOs. The cost of margin borrowing on the Shanghai Stock Exchange is highly sensitive to IPO demand. The intraday top of 65% for overnight money last February printed on February 10, the day before the Beijing Sojo Electric IPO, and a week before the Chinese New Year, the peak of seasonal liquidity demand.
9. USDA Seeks to End China's Ban on US Poultry
Shortly after Minnesota announced it would declare a state of emergency, Agriculture Secretary Tom Vilsack requested that China end a ban on imports of U.S. poultry that was imposed after an outbreak of bird flu infected more 7.3 million birds. "[Why] would you say 'you can't buy poultry from Virginia or North Carolina?'" asked Vilsack, noting that most states have not reported outbreaks of the flu, reported Reuters.
10. Magento and Razorfish in Greater China Team Up to Accelerate Ecommerce Opportunities for Retailers in Asia Pacific
KING OF PRUSSIA, Pa., May 07, 2015 (BUSINESS WIRE) -- Magento, an eBay Enterprise company, today announced the company has partnered with Razorfish in Greater China to serve as a gateway for retailer growth in the booming Asia-Pacific market. Online shopping in China is growing faster than anyone originally expected. Forrester’s latest online retail forecast for China projects that the nation’s online market (B2C and C2C) will pass $670 billion by 2018.