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Chinese exporters report increase in over-invoicing

02 Oct

China Confidential’s latest proprietary monthly surveys of 200 export manufacturers, trading companies and shipping agents suggest that over-invoicing of exports is becoming more common again. 

Central bank confirms mortgage rate cut

30 Sep

China’s central bank has announced looser mortgage policies for new and existing homeowners. A housing recovery is likely to hinge on whether broader credit conditions are also eased. 

Home sales rise in smaller cities

26 Sep

Housing transactions in third-tier cities rose sharply in the first three weeks of September, but declined in larger cities.

Latest report

25 September 2014

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The Big Call

Survey highlights longer-term infrastructure challenges

Our latest survey of infrastructure projects in eight provinces suggests an improvement in short-term financing for existing projects, but highlights longer-term challenges given constrained local government finances.

Consumer China

Infant milk formula – foreign brands strengthen grip

Multinational brands continue to dominate China’s infant milk formula market and rapid online channel expansion is likely to support further growth for these companies. However, industry consolidation and supportive government policies could boost larger domestic formula-makers in the medium term.

Mead Johnson – slower growth ahead

China’s largest infant milk formula producer by revenue remains strong, but is facing significant challenges in remaining number one given strengthening competition from multinational rivals, sluggish development of its online channels and regulatory headwinds.

Danone – despite dip, prospects remain good

While last year’s Fonterra recall damaged both sales and margins, a rebound in popularity and improved product mix bode well for the French dairy company’s China operations.

Beingmate – looking to overcome recent struggles

Beingmate saw sales, margins and popularity decline YoY in 1H14, but a shift in strategy and market dynamics should drive a rebound moving into 2015.

Yashili – sales suffer on competition, strategy shift

Yashili’s revenue has fallen on increased competition in its core lower-tier markets from both international and domestic players, while its strategic shift away to its e-commerce channel is taking time to gain traction.

Capital Intensive China

Understanding China’s real estate slowdown

Our analysis suggests that China’s current housing slowdown is in line with previous credit-cycle-led downturns, and does not represent a more severe structural downturn.

Best of Chinese Commentators

P2P – continuing to grow amid uncertainty

With the popularity of P2P lending platforms continuing to grow despite a series of scandals, industry participants and investors assess the outlook for the sector.

The Shanghai FTZ turns one

Economists and analysts debate the achievements of the first year of the much-heralded Shanghai free-trade zone.

China Confidential Database

The Bottom Line

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