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Home sales strengthen in mid-March

26 Mar

Home sales in the first 24 days of March showed signs of strengthening in the 42 cities monitored by China Confidential.

Housing market remains weak in early March

16 Mar

Chinese home sales remained weak in the first 11 days of March, according to local property bureau data, while inventory pressures appear to be building again.

Key policymakers pledge stock market support

13 Mar

Two key Chinese policymakers have publicly stated their support for the rally on domestic stock markets, reinforcing our view that Beijing sees bullish A-share markets as a central plank of its new monetary policy framework.

Latest report

26 March 2015

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Macro View

Nearing the bottom?

Consumer China

Jewellery market losing its shine

Sales for leading Hong Kong-listed jewellers are likely to remain weak in 2015, due to a decline in spending in Hong Kong and sluggish growth amid the government’s anti-corruption drive and intensifying competition on the mainland.

Chow Tai Fook – rebound unlikely in short term

Jewellery market leader Chow Tai Fook is unlikely to regain growth momentum in the short term given a series of challenges, including weak consumer spending, mounting competition and ongoing anti-mainland rhetoric in Hong Kong.

TSL – cost and debt pressures rise

Hong Kong jeweller TSL’s attempts to transform its operating model and positioning should support long-term growth, but may continue to push up capital expenditure and debt from already high levels in the short term.

Luk Fook – Hong Kong weakness to weigh on sales

Despite rapid expansion in lower-tier cities in mainland China and improving popularity among mass-market consumers, weakness in its home territory is likely to continue to weigh on sales growth going forward for Hong Kong-based Luk Fook.

Chow Sang Sang – efficiency to help weather storm

Chow Sang Sang’s revenue fell in 2014 on falling jewellery demand and Hong Kong’s declining attraction as a tourist destination, but prudent mainland expansion and solid operational efficiency should help the company to compete in an increasingly competitive market.

Financial China

Paradigm shift – Chinese capital outflows in context

We think recent capital outflows and renminbi depreciation trends are in line with the government’s new monetary policy paradigm, and policymakers’ expectations.

Capital Intensive China

North-east slowdown highlights national risks

North-east China’s industry-and-investment-led growth model is beginning to unravel, highlighting the difficulties that the whole country may face in developing new growth drivers

Best of Chinese Commentators

Assessing the renewed A-share market rally

Industry participants discuss the drivers and implications of a renewed rally on mainland stock markets in recent weeks.

Chinese perspectives on the AIIB

Leading Chinese commentators and academics give their views on the significance of the newly formed, China-led Asian Infrastructure Investment Bank.

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The Bottom Line

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China Confidential Database

COOKIE POLICY

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