Thursday, November 30, 2006

Chinese Economy Update Nov. 30, 2006

  • Chinese economy enters into a correcting phase
  • Chinese economy risks an overall overcapacity - NDRC economist Ma Xiaohe
  • Chinese yuan (RMB) climbed 400 basis points in six days (nevertheless, RMB is depreciating against China's trade-weighted currency basket in real term)
  • 5 bln yuan of private capital from Shanghai poured into three northeastern provinces
  • Property prices in Beijing's downtown core area top 14,000 yuan
  • Institutional investors' stock holdings jump 60 bln yuan in October
  • Morgan Stanley covets 49 pct stake in Shenyang Machine Tool
  • Arcelor-Mittal sees backsets in buying a 38 pct stake in Laiwu Steel
  • China sees natural gas shortage of 20 bln cubic meters in next 4 yrsCNPC reported to form its second JV in Russia

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