Report archive
09 February 2012
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Keeping the energy flowingThe Big Call
Redrawing the trade map
Trade with the emerging world starts 2012 in more robust shape than that with the west. Such trends are fundamentally altering China’s trade map.
Consumer China
Online retailing – the archetypal China bonanza
Online retailing is a true China bonanza – a huge market expanding rapidly with several years of promise in the pipeline. However, the competitive strain is already telling on some market participants.
Taobao – dominance set to continue
Taobao’s position as the industry leader so far seems unassailable in spite of the large number of new entrants and investment by online retail competitors.
Mecox Lane – painful transition period
It is not yet clear if Mecox Lane will manage to successfully turn its traditional business into an online play.
Dangdang – diversification driving growth
Mother and baby-care products make up for a flagging books business.
Jingdong – big spender dependent on discounting
The unlisted Jingdong may hope to raise as much as $5bn in an IPO to continue driving its rapid growth.
Financial China
Liquidity loosening underway to forestall defaults
The authorities have begun 2012 by showing an intent to keep defaults to a minimum in both property and LGFV segments to avoid systemic risk.
Selected financial charts
A selection of key financial data for February.
Capital Intensive China
New reactor orders seen as China’s nuclear industry reasserts itself
Rapidly upgrading local suppliers promise to compete strongly with world nuclear equipment leaders as China moves toward 3G nuclear technology.
Best of Chinese Commentators
China bans airlines from paying EU charges
The Chinese government this week banned its airlines from paying charges on carbon emissions imposed by European Union. China’s State Council (cabinet) and the Civil Aviation Administration of China (CAAC) prohibited all domestic carriers from joining the EU carbon emission trading scheme and from charging passengers extra based on it. How entrenched is Beijing’s position?
China considers support for eurozone
Premier Wen Jiabao said last week that China was considering “involving itself more deeply” in resolving the eurozone crisis through channels like the European Financial Stability Facility (ESFS) and the European Stability Mechanism (ESM), a $650bn permanent bailout fund that replaces the ESFS in July. But how willing is Beijing to pledge its money in this way and how confident is it that the EU can really put its house in order (thereby safeguarding Beijing’s investments)?
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RENMINBI COMPASS
Renminbi Compass, a new research service launched by the FT, aims to act as a navigational guide through the expanding universe of renminbi asset classes. With the Chinese currency gaining ever-wider acceptance around the world and Beijing taking steps to open its capital account, we are broadening our research coverage to include not only equity funds but also all other important renminbi asset classes, such as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art, antiques and several others.
