China
Chinese banks’ aggregated net profit up 33% to RMB 687.3 billion in 2010
The average ratio of non-performing loans of the 17 listed banks reduced from 1.58% at the end of 2009 to 1.14% at the end of 2010, says Ernst & Young.
Chinese banks’ aggregated net profit up 33% to RMB 687.3 billion in 2010
The average ratio of non-performing loans of the 17 listed banks reduced from 1.58% at the end of 2009 to 1.14% at the end of 2010, says Ernst & Young.
China’s GDP growth forecast for 2011 falls to 8.7%
Credit Suisse says food and services inflation will rise.
China’s inflation shoots to 34-month high of 5.5% in May
This is due to the higher than expected food inflation which increased to 11.7%.
Chinese insurers dipping into Dim Sum bond market
Value Success International's recent Hong Kong issuance of RMB2billion in 3-year "dim sum" bonds was a success, says Moody’s.
HSBC warns of 15% drop in Chinese residential real estate prices
Over the next 12 months, we expect residential prices to fall by 15% in first-tier cities and by 5% in second-tier cities, says HSBC.
China’s transport sector ranks as 4th most attractive to investors
Germany, France and the US took the top 3 spots.
China: we are dumping the Yankee dollar
Singapore dollar expected to strengthen as China’s net purchases of US bonds turn negative.
India to eclipse the US as China's biggest trading partner
OK it may take 30 years, but it's interesting that during Premier Wen’s December 2010 Indian visit, USD16bn of trade deals were signed, outstripping the USD10bn signed by President Obama during his November visit, reports HSBC.
Asian carriers to make majority of worldwide airline profits this year
IATA expects asian carriers will earn US$2.1 bn this year, while the rest of the worlds airlines will only make $1.9 bn.
CapitaLand acquires Wuhan Kaihui Real Estate
The 100% stake acquisition was worth approximately S$72 million.
China's services PMI reach 7-month high
The country’s services PMI rose by 2.7 points in May due to profits from new business inflows.
Asian currencies move towards CNY
And this has kept Asian currencies resilient in the face of recent EUR weakness, according to HSBC.
@Customerservice#productfail: 30% of Chinese turn to social media for customer service
And 60 % use web chat to talk with companies as they hang up the phone on customer service.
8 in 10 businesses in China to use RMB in cross-border trade
But a good 37% of Chinese traders still doubt the acceptability of RMB outside China, reports HSBC.
China faces worst-ever power shortage
Shuai Jungin, State Grid Corporation of China executive vice president, warns that China will face its worst-ever power shortage this summer.
GDP in China and Korea may turn negative in mid 2011
It's bad news for North Asia with industrial production slowing massively, notes DBS.
China Manufacturing finally slows down
Still growing, but down to a 10 month low.
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