Consumer China
Carlsberg – westward ho!
28 June 2012
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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.
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Macro View
A slow quarter
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The Big Call
Caution over steel
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Consumer China
Tsingtao Brewery – pumping up the volume
Yanjing Brewery – going out into the provinces
AB InBev – Taking on the locals
China Resources Snow Breweries– Positive sales, negative profits
Beer – let high-end battle commence
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Financial China
Selected financial charts
Chinese banks – lower profits, waning risks
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Capital Intensive China
Bubble trouble looms for commercial property
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Best of Chinese Commentators
Evergrande – fraud or not?
China seeks IMF votes for cash pledge
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