Growth in the shadow banking system rocketed in 2012 but a heavy reliance on wealth-management products for liquidity raises questions for 2013.
Finance
Shadow banking worries lurk behind robust picture
Credit and liquidity conditions should remain robust in 2013, but the rising popularity of alternative sources of financing poses increasing risks
Durable themes and danger zones
China Confidential has identified 10 durable, long-term trends and 10 potential danger-spots for the Chinese economy in 2013 and beyond
Shadow banking sector lending surges, as bonds soften
Underground and non-bank loan volumes rose in November, but lower corporate bond issuance and muted bank lending growth resulted in a sequential fall in total social financing
Selected financial charts
A selection of key financial data over the past fortnight.
Banks ease back on LGFV debt
Banks are stepping back from investment in chengtou bonds and infrastructure trusts, in what could be an ominous sign for LGFV debt
Rural wealth surges in November
The China Confidential Rural Wealth Index rose to 54.4 in November, up from 53.4 in October, as pork prices recovered and rural machinery sales were strong.
Worries mount over wealth-management products
A dispute over a non-performing wealth-management product sold by Huaxia Bank has highlighted growing concerns over the risks associated with these increasingly popular but extremely opaque financial products.
US-listed Chinese firms under more pressure
Accusations leveled against the China subsidiaries of five global auditors have reignited concerns over the future outlook for US-listed Chinese companies.
Selected financial charts
A selection of key financial data over the past fortnight
RENMINBI COMPASS
Renminbi Compass reflects key changes in the renminbi-denominated investment environment.
Providing research coverage on asset classes as diverse as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art and antiques, as well as its traditional equity fund research.
Renminbi Compass provides orientation for investors navigating the expanding universe of renminbi asset classes.
