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14 January 2010
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2010 starts with a bangThe Big Call
Food inflation to surge
No economic trend in China is more important than inflation, as we have been saying since July last year (CC July 9th Big Call). If Beijing fails to control it, it may have to slam on the monetary brakes later this year, potentially precipitating a 'hard landing' for the economy.
Consumer China
Food inflation: Winners and Losers
Inflation in the price of many farm products is no small deal in a country with 721m rural citizens.
Sanquan Foods (002216:SZ)
The frozen-food manufacturer may see profits eroded by rising raw material costs.
Wuhan Zhongbai (000759:SZ)
Although Zhongbai continues to struggle outside of its home Hubei, inflation should support sound revenue growth in 2010.
Three snapshots
While margins at processed meat processors Delisi and Shanghai Dajiang are struggling under rising raw meat and pig prices, Zhangzidao Fishery is benefitting from demand for its upscale seafood.
Tingyi (0322:HKG)
Tingyi's recent success with beverages may help offset margin declines seen currently in its noodle business.
Yurun (1068:HKG)
The meat processor's mix of both low and high-end products gives the company more leverage to defend against pork inflation.
In Depth
China's farm imports outpace exports
Trade deficit in farm goods to continue to grow in China over the next five years as imports outpace exports.
Forbidden City
US-China rift over Google reflects fractious ties
Google's defiance of Beijing has the potential to put ties with the US into the deep freeze.
Best of Chinese Commentators
The future of futures
What will the launch of newly approved stock index futures, margin trading and short selling products mean for the domestic stock market?
If downpayment requirements on property go up, will prices come down?
Beijing's regulatory changes, aimed at cooling the property market, are creating a stir with analysts debating whether enough has been done to prevent land hoarding.
Funds Data
Investors ponder over direction of monetary policy
Investors looked to be hesitating on China entering into the New Year, much like the picture this time a year ago.
Guest Column
China cements status as world growth leader
Charlie Awdry, manager of Gartmore China Opportunities Fund, talks on China's rising influence in Asia and around the world.
Postcard From No528
Farmers do better than urban 'mortgage slaves'
This year, Beijing will continue to push preferential policies for farmers while trying to stabilise property prices in major cities.
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