Report archive
12 July 2012
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Stimulus, what stimulus?The Big Call
Coal inventory piles up
Slumping demand from power stations is leading to falling coal prices, distress among coal traders and bigger inventories than in the 2008 downturn
Consumer China
Mobile phone operators – China Mobile’s challenge
Our survey found that China Mobile customers have lower monthly spending, own less-sophisticated phones and tend to use less data, spelling trouble for the market leader in China’s competitive 3G mobile landscape
China Unicom – maintaining its 3G advantage
Strong spending by data-hungry smartphone users has given China Unicom the edge in the 3G battle, but margins remain under pressure
China Mobile – market leader under pressure
China’s leading mobile operator faces increasingly fierce competition from rivals in both the 2G and 3G markets
China Telecom – growth at the expense of profitability
China Telecom’s continued pursuit of 3G market share through aggressive subsidies will dampen the company’s bottom-line throughout 2012
Rural China
Lower pork prices, tractor sales drag on rural wealth
Further declines in the profitability of rearing pigs and slowing rural machinery sales dragged down the China Confidential Rural Wealth Index to 52.4 in June
Financial China
Chengtou bond issuance to soar in 2H12
A series of recent policy moves is likely to see a surge in Chengtou bond issuance in 2H12, further reducing local government financing vehicle default risks
Selected financial charts
A selection of key financial data over the past fortnight
Capital Intensive China
Property heats up. Are the go-go days returning?
Our surveys showed strong property-buying intentions among middle class urbanites and a pick-up in real estate construction activity in June, in line with a surge in housing sales and rising prices last month.
Best of Chinese Commentators
Machinery makers seek to engineer a recovery
Industrial and financial sector experts shared their opinions on the outlook for China's machinery sector in light of declining orders, tighter profit margins and falling share prices
Implications of the rate cut
Chinese commentators debate the motivations behind and the likely impact of Beijing's latest interest rate cut
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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.
