China
Chinese inflation out of control, surges 6.4% in June
This is a substantial acceleration from the reading of 5.5% in May, according to Royal Bank of Scotland.
China’s benchmark deposit rates shoots to 6.56%
Benchmark lending rates have also been raised to 3.5%.
China’s services PMI stable at 54.1 in June
For the second quarter as a whole, Mainland service sector activity is expanding at a faster pace than in Q1 when it averaged 51.9.
Chinese banking crisis: Problem loans to local governments greater than anticipated
The Chinese audit agency could be understating banks' exposures to local governments by as much as RMB 3.5 trillion, says Moody’s VP Yvonne Zhang.
Chinese property sales volume rebounds by 12%
Monthly volumes of flats also slowed down by 30%.
China’s local government debt reached RMB 10.7 trillion in 2010
About RMB 9 trillion, or 84% of the total was explicitly taken on or guaranteed by governments.
Is China headed for a hard landing?
The country’s PMI slipping to 51.6 in May was a major concern among investors, says HSBC.
China meltdown: Will China’s GDP growth drop by more than 30% in 2011?
It is a rare probability event to call, as there have been four such episodes since 1980.
Don’t panic: China’s local debt still ‘manageable’ at RMB 10.7 trn
HSBC says nearly 80% of the total amount were bank loans.
Chinese stock issuance reaches $52.6bn in 2011
This makes China account for 42.4% of Asia Pacific ECM volume – the highest YTD percentage on record.
China manufacturing PMI drops to 11-month low of 50.1 in June
HSBC says inflationary pressures will start to ease this month.
Inflation woes: Chinese economy in peril with a record 5.5% CPI inflation in May
And worse, it is likely to reach its peak at 6% yoy in June, says Credit Suisse.
Wilmar International unaffected by China price caps
This, as Wilmar received some 1.2m tons of subsidized soy beans from the Chinese government, says OCBC.
Fears of an imminent burst in the Chindian property bubble misplaced
Are China and India about to buckle as well?.
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.
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