China Railway Group

China Stock Watch 8/1/14

A so-so day’s trading today, with seven stocks rising, ten falling and three flat. The best performance was posted by CNOOC, up 2.2% to HK$13.96 a share, and SAIC Motor, up 2.05% to RMB13.41 a share. The biggest falls were by China Shenhua (-1.69%) and China Railway Group (-1.61%), still reeling from the death of its chairman.

We are likely to see a rise in major stocks, as regulators have advised firms to buy back shares if they trading below net asset value. We can take this as being more than just “advice”, particularly with that 2000 threshold ominously close.

The Shanghai Composite Index closed at 2,044.34, down 2.98 (-0.15%).

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.4 0.00 (0.00%) 512,887.39M 7.03 4.05 CN¥0.62 7.15
PetroChina 7.64 -0.10 (-1.29%) 1.40B 9.5 7.08 CN¥0.68 11.31
ICBC 3.58 +0.03 (0.85%) 1.26B 4.53 3.4 CN¥0.74 4.87
China Construction Bank 3.98 -0.03 (-0.75%) 995,043.70M 5.19 3.8 CN¥0.85 4.71
Agricultural Bank 2.42 -0.01 (-0.41%) 786,001.79M 3.28 2.38 CN¥0.50 4.82
Bank of China 2.51 -0.01 (-0.40%) 701,205.02M 3.26 2.48 CN¥0.53 4.73
China Mobile 78.35* +0.30 (0.38%) 1.58B 91.1 74.9 HK$8.20 9.55
Noble Group 1.04 +0.01 (0.97%) 6,892.16M 1.27 0.785 SGD0.04 28.7
China State Construction 3.02 -0.02 (-0.66%) 90,600.00M 4.18 2.9 CN¥0.62 4.9
CNOOC 13.96* +0.30 (2.20%) 623,278.49M 17.32 12.04 HK$1.89 7.37
China Railway Construction 4.21 -0.05 (-1.17%) 51,941.05M 6.46 3.95 CN¥0.84 5
China Railway Group 2.45 -0.04 (-1.61%) 52,184.76M 3.41 2.3 CN¥0.44 5.59
SAIC Motor 13.41 +0.27 (2.05%) 147,852.85M 19 11.83 CN¥2.05 6.54
China Life Insurance 14.68 -0.06 (-0.41%) 414,925.88M 22 12.88 CN¥0.97 15.19
Dongfeng Motor 11.66* +0.06 (0.52%) 100,463.96M 13.28 9.48 HK$1.38 8.47
China Shenhua 14.57 -0.25 (-1.69%) 289,791.76M 25.39 14.42 CN¥2.25 6.47
Ping An Insurance 40.63 +0.54 (1.35%) 321,632.86M 53.27 31.69 CN¥3.45 11.78
China Telecom 3.71* 0.00 (0.00%) 300,259.09M 4.42 3.48 HK$0.26 14.35
China Communications Construction 3.88 -0.01 (-0.26%) 62,757.98M 5.79 3.8 CN¥0.81 4.79
Bank of Communications 3.79 +0.02 (0.53%) 281,455.73M 5.68 3.65 CN¥0.84 4.5
Advertisements

China Business Briefs 7/1/14

ECONOMY

Rural transformation underpins Chinese economy[1]- Chinadaily.com.cn China has long been a large agricultural nation, therefore the work concerning agriculture, countryside and farmers (the three rural issues) have always been the top priority of the Chinese government. The Central Rural Work Conference provided the first opportunity for the country’s new government to make plans for the three rural issues.

Besides ensuring domestic production of grain, the conference also made decisions about the position of agriculture, safety of farm produce, land rights, development of rural areas and raising farmers’ income.

Analysis: Cash crunch signals policy dilemma for China’s reformist central bank | Reuters China’s central bank looks set to risk another cash crunch at the end of January, barely a month after the last market squeeze, as policymakers press ahead with a crackdown on shadow financing and other risky bank lending.

Periodic cash squeezes as banks scramble for fresh funds highlight the policy dilemma the PBOC faces in 2014, as it pushes financial reforms to help rebalance the world’s second biggest economy away from the investment- and exports-led model that powered its rapid rise.

China’s Cabinet Drafts Shadow-Banking Plan – WSJ.com The plan, which was distributed to regulators by the State Council on Dec. 10 and hasn’t yet been made public, sets out to limit the growth in loans created outside formal channels for bank lending, according to a copy of the document reviewed by The Wall Street Journal. The framework calls for stronger oversight of such informal lending by the central bank and other regulators.

The plan falls short of launching a full-blown crackdown on the sector, suggesting the leadership’s preference for maintaining a key source of credit for the economy but one that has contributed to industrial overcapacity and high debt levels at local governments.

China’s reforms: The pain begins – Craig Stephen’s This Week in China – MarketWatch Despite 2014 beginning with some disappointing data as HSBC’s China services index slumped to 50.9 for December, it looks like authorities will be applying tough-love austerity rather than the usual pump-priming response.

Ashmore becomes first to gain access to invest directly in China – FT.com China has taken a significant step towards opening its multitrillion-dollar capital markets to the outside world by giving a western asset management group freedom to invest in its domestic stocks and bonds.

Ashmore Group has become the first group outside Hong Kong to announce it has been granted a licence to invest directly in China’s $3.4tn domestic equity market, which is quoted in renminbi and known as the A-share market, and its $4.7tn bond market.

Few Specifics Mean China Banks Could Stay in the Shadows – China Real Time Report – WSJ But equally important was what the State Council didn’t say: It made no mention of trying to sharply ratchet down China’s debt which since 2008, has grown to 216% of GDP from 128% and could climb to 271% by 2017 if not corrected, according to Fitch Ratings. Indeed, the framework regulation goes out of its way to call shadow banking is an “inevitable” result of financial innovation and has played an “active” role in serving the economy and broadening the investment channels for Chinese individuals.

Major Corruption Prosecutions up in 2013-Caijing China’s procuratorial authorities investigated 27,236 embezzlement and bribery cases between January and November last year, sentencing 36,907 people, the Supreme People’s Procuratorate said in a statement on Sunday.

Of those cases, 80 percent were considered major or important, which the top procuratorate defines as embezzlement and bribery cases involving more than 50,000 yuan ($8,270) or earmarking public funds over 100,000 yuan.

Sales of luxury goods decline substantially in China|Markets|Business|WantChinaTimes.com Luxury goods sales in China have dropped significantly after rapid growth over the past few years, with some noted fashion brands closing some of their stores in the country, according to Guangzhou’s 21st Century Business Herald.

According to Bain & Company statistics, luxury goods sales in mainland China slowed down in 2013 to a 2% growth rate, compared with the 7% annualized increase in 2012 and 30% in 2011. The consulting firm projected that the downtrend would continue in 2014.

Coking coal prices continue to work in steelmakers’ favour | Business Standard China, which remains relentless in raising steel production even while phasing out high-cost capacity, has to put greater reliance on imports of iron ore, since domestic supply is falling short of requirements of its steel mills. Production cost in many of the mines in China being double that in Australia and Brazil, the country is better off by importing than raising local production.

China destroys ivory stockpile in ‘significant symbolic step towards saving Africa’s elephants’ – Telegraph More than six metric tons of tusks, ivory ornaments and carvings were fed into   crushing machines by forestry and customs officials in southern Guangdong province, where much of China‘s ivory trade is focused.

Much of the ivory on the market in China is legal – bought from African governments selling off their stockpiles of seized tusks in 2008. But the continued demand also drives a trade in illicit ivory “laundered” with fake provenance certificates.

China adjusts measures in Shanghai FTZ – Xinhua | English.news.cn The State Council, or Cabinet, said in a statement that it decided to temporarily adjust measures in an effort to reform the country’s foreign investment management and open the service sector wider to overseas investors.

The government will also relax controls over foreign investment in fields covering international shipping, credit investigation, performance brokerage, entertainment, training and telecommunications within the zone.

Law cuts into guides’ earnings – Business – Chinadaily.com.cn The law took effect on Oct 1 and bans forced shopping during trips. Three months later, many tour guides are looking for new jobs, since much of their income came from the commissions they earned by herding tourists into shops.

Dell looks at China as source of innovation[1]- Chinadaily.com.cn Chinadaily.com.cn interviewed Amit Midha (President, Dell Asia Pacific and Japan Region) on Dec 19, 2013, in Xiamen, Fujian province. Midha talked about Dell’s strategy.

P2P firms in China dropping like flies|Markets|Business|WantChinaTimes.com The total transaction value of major P2P platforms in China reached 49 billion yuan (US$8.1 billion) in 2013, with an average interest rate reaching 23.24%, according to the report. Seventy four platforms had difficulty meeting the demand from cash withdrawals, mostly in the fourth quarter. The situation is gravest in Zhejiang province, where 17 P2P firms bit the dust in 2013, followed by Guangdong with 11 and Jiangsu with nine. December casualties fell to 10, compared with 30 in November and 18 in October.

China suspends ban on foreign video game console sales China’s State Council said it has temporarily lifted a ban on selling foreign video game consoles, paving the way for firms like Sony Corp, Microsoft Corp and Nintendo Co Ltd to enter a nearly $14 billion market.

The suspension of the 14-year-old ban permits “foreign-invested enterprises” to make games consoles within Shanghai’s free trade zone and sell them in China after inspection by cultural departments, the government said in a statement posted on its website on Monday.

China’s online video viewers watch for 5.7 billion hours every month (INFOGRAPHIC) This new infographic, put together by the Go-Globe team, shows just what a massive business it is. China now has 450 million online video viewers who collectively spend 5.7 billion hours per month watching stuff. There will be an estimated 700 million viewers by 2016. 76.3 percent of surveyed users say they prefer online videos over China’s very dour and propaganda-filled state television.

McKinsey Greater China – What might happen in China in 2014? It’s 2014, and Gordon Orr is back with his annual predictions for the coming year in China. In this podcast, he discusses some of his prognostications with Nick Leung and Guangyu Li. Gordon is a Director based in Shanghai. Guangyu is a Partner there. Nick is the Managing Partner of McKinsey’s Greater China Practice.

Cheap cash and speculation has never been tougher | China Economic Review Shadow bankers are no match for the central bank when it comes to throwing China’s financial system into a panic. Back-alley lenders have handed out a mere US$4 trillion in cash at exorbitant interest rates. No surprises here. The People’s Bank of China (PBOC), on the other hand, managed to send shock waves through the banking system and push markets into turmoil twice last year.

China 2013: A Year in Review with Shaun Rein | China Briefing News This week, China Briefing is featuring a series of specially-commissioned articles and interviews from prominent China-based writers regarding their thoughts on the key developments in the country during 2013, and what lies ahead in 2014. Today’s interview features Shaun Rein, author of “The End of Cheap China: Economic and Cultural Trends that Will Disrupt the World” and managing director of the China Market Research Group.

Taiwan Rejects Bitcoin ATMs – China Real Time Report – WSJ The island’s financial regulator said Monday that physical teller machines for the virtual currency “will not appear” here, after Las Vegas-based RoboCoin, which makes bitcoin ATMs, reportedly said it had chosen Taiwan and Hong Kong as its first spots to expand in Asia.

China Auto Industry News | Chinese Manufacturers Rushing to Brazil | China Car Times – China Auto News Rapidly developing markets in South America, led by Brazil, are shaping up to be the new focus of investment in the future.

China Private Equity, M&A & Capital Markets, from China First Capital Think it’s easy to be a private equity boss in China, to keep your job and keep your LPs happy? It’s anything but.

COMPANIES

Report Says Death Of China Railway President May Be Linked To Anti-Corruption Campaign – Forbes The 21st Century Business Herald, citing anonymous sources working in China’s railway sector, said Bai’s death may be related to the ongoing anticorruption campaign that led to the downfall of Liu Zhijun, China’s former railway minister who was given a suspended death sentence in July for abuse of power and taking bribes. Under Liu’s tenure, China’s railway builders were mired in debt, waste and embezzlement. China Railway Construction Corp.Ltd., the country’s second largest infrastructure contractor, spent 837 million RMB ($135 million)on hospitality in 2012. A year earlier, the National Audit Office found officials embezzled 187 million RMB ($28 million) from just the Beijing-to-Shanghai portion of the high-speed railway project.

China Railway reassures after president’s death – BUSINESS – Globaltimes.cn China Railway Group Limited said Monday that the company’s debts and risks are under control, after its president committed suicide over the weekend allegedly because of the firm’s high debts, China News Service reported Monday.

The company had debt of 408 billion yuan ($67.41 billion), and assets worth 503 billion yuan by the end of September 2013, according to the company’s third-quarter earnings report.

China Mobile Probes, Unicom Meddles [China Mobile Ltd. (ADR), China Unicom (Hong Kong) Limited (ADR), China Telecom Corporation Limited (ADR)] – Seeking Alpha We’re just a week into the New Year, and already new signs of political shenanigans at the nation’s 2 leading wireless telcos, China Mobile (HKEx: 941; NYSE: CHL) and China Unicom (HKEx: 762; NYSE: CHU), are hinting at turbulence ahead as Beijing tries to liberalize the state-dominated telecoms services sector. Media are reporting that China Mobile has launched an internal probe into a botched initiative in Hong Kong, which looks to me like an extension of Beijing’s fast-expanding series of anti-corruption probes at major state-owned firms. In the meantime, media are reporting separately that a top Unicom executive has left the company to join one of the nation’s newly licensed virtual network operators (VNO), in a deal that looks aimed at undermining Beijing’s plans to inject new competition into the telecoms services sector.

Alipay apologizes for leak of personal info – Business – Chinadaily.com.cn The leak of information via the country’s largest third-party payment platform has sparked a public outcry over transaction security at a time when the Internet is soaring as a major shopping avenue

“The leaked data revealed only transaction information before 2010. They excluded sensitive information such as usernames or passwords, which were ciphered through a sophisticated method that is not available to anyone,” according to a statement by Alipay on Sunday.

Luring Beyonce Fashion Fans Spurs LightInTheBox Rally – Bloomberg LightInTheBox Holding Co. (LITB), a Chinese online retailer, surged 20 percent New York after saying it bought Seattle-based Ador Inc., a website that sells clothes and accessories similar to those worn by celebrities from Beyonce Knowles to Taylor Swift.

Telecom Deal by China’s ZTE, Huawei in Ethiopia Faces Criticism – WSJ.com The Ethiopian network’s glitches underline the broader troubles that sometimes face poorer nations as they borrow heavily to invest in telecommunications, roads, utilities and other infrastructure to help lift them out of poverty.

China’s financial firepower helps its firms win many of these contracts. But in agreeing to such deals, some governments appear to have flouted rules meant to foster sound public investment. When countries sidestep such rules, say experts at institutions such as the World Bank, big projects often cost more and are more likely to be poorly executed.

Ford Blows Past Toyota and Honda in China (F, TM) Ford China sold 935,813 vehicles last year, the company said in a statement. That was more than Toyota (NYSE: TM) and Honda (NYSE: HMC) , though it’s still a long way from the more than 3 million sold by the twin titans of China’s auto market, General Motors (NYSE: GM) and Volkswagen (NASDAQOTH: VLKAY) .

Was Tencent’s Unverified Non-Competition Agreement Illegal? | Bridge IP Law Commentary Abstract: many of Tencent’s non-competition contracts being reported online are false due to invalidity. If the contracts were true, one might wonder the intelligence and morality of Tencent’s managers and officers. These agreements are arrogant, domineering, selfish and ignorant of relevant laws. It is hard to imagine how these contracts could come from a listed company with billions of dollars. Additionally, Tencent could possibly pay large amounts of compensation to departing employees in order to fully comply with the relevant laws.

Buffett-Backed BYD Says Chinese Cars to Debut in U.S. – Bloomberg BYD plans to introduce about four models for its U.S. debut at the end of 2015, said Stella Li, the senior vice president in charge of the company’s U.S. business, in an interview last week in Shenzhen, China. Though BYD wasn’t ready when it earlier sought to enter the U.S. car market in 2010, the company is more prepared this time, she said.

Ctrip Reportedly Invests Over $100 Million in Overseas Travel Platform ToursForFun Chinese online travel giant Ctrip reportedly invested more than $100 million in overseas tourism service ToursForFun (report in Chinese). According to official website of ToursForFun, the company will become part of Ctrip’s North American branch, which was set up in last November.

Founded in 2006, ToursForFun is a thriving online travel supplier dedicated to providing online purchasing experience for all travel needs. It is focused on overseas tours and vacation packages in North America, Europe, Asia, Australia & New Zealand, and South & Central America.

Former Google China Head John Liu Joins Qihoo 360 John Liu, former vice president at Google Inc. and head of Google China, has joined Qihoo 360 as Chief Business Officer.

Dr. Liu left Google China in July 2013 after six-year stay there. He was the successor to the former Google China chief Kaifu Lee, founder of VC firm Innovation Works.

China Greenland to Invest $2 Billion in London Developments – Bloomberg The state-owned company, which is investing in the U.K. for the first time, will sign an agreement with Minerva Ltd. today to acquire the Ram Brewery site in Wandsworth in southwest London, the two firms said in an e-mailed statement. The completed development will be valued at 600 million pounds, according to the statement. The purchase price wasn’t disclosed.

Schindler Holding Ltd : Press release: Schindler to equip China’s tallest building | 4-Traders Schindler China, the Chinese division of the Schindler Group, has been awarded a major contract for a 115-story megatall skyscraper currently under construction in Shenzhen, Guangdong province.

When complete, Shenzhen’s Ping An Finance Center will include office and retail space and stand 660 meters high, making it the tallest building in China. The structure will feature Schindler’s 7000 high-rise series elevators and Schindler’s cutting-edge PORT transit management technology.

DailyNews Online Edition – Passers-by bother bridge builders CONSTRUCTION of the 680- metre Kigamboni Bridge has been extended to July 2015 following a number of unforeseen challenges that afflict the project.

The project, which is financed by the National Social Security Fund (NSSF), is carried out by the China Major Bridge Engineering Company and China Railway Jiangchang Engineering (Tanzania) Limited as well as Arab Consulting Engineers.

AMEC plc : AMEC to hire 150 for China contract | 4-Traders ENGINEERING company AMEC estimates it will need to hire another 150 workers after being appointed by China’s state-owned CNOOC to provide services for its substantial North Sea oil and gas interests.

The firm has been hired by Nexen Petroleum UK, which has been a subsidiary of CNOOC since the $15 billion (pound(s)9.1bn) acquisition of its Canadian parent in February.

10 Online Tourism Startups You Should Not Miss Chinese startup database ITjuzi recently released the newest round-up of online tourism services. In ITjuzi’s database, there are overall 337 startups fall into this vertical category, while 41 companies or 12.2% of the total have secured capital injections in the past year. Please read the Chinese report here.

Let’s take a look at the 10 must-visit tourism sites recommended by the database:

Chexim plans to issue up to 4 bln yuan dim sum bonds – Yahoo Finance The Export-Import Bank of China (Chexim) plans to issue up to 4 billion yuan ($660.99 million) of dim sum bonds in Hong Kong to institutional investors, kicking off a strong offshore yuan bond pipeline expected this year.

Uganda reviewing nine applications for oil production licences – Yahoo Finance UK In September last year Uganda awarded the first production licence to China’s CNOOC (HKSE: 0883.HKnews) for the Kingfisher (LSE: KGF.Lnews) discovery, which contains an estimated 635 million barrels of crude reserves, of which 196 million are recoverable. CNOOC plans to spend $2 billion to develop the field over a four-year period.

CHINA TELECOM to focus its efforts in five areas this YEAR | 4-Traders The first one would be assuring it to change the way it serves customers and expand fundamental services.

4G commercialisation would be accelerated by the company and it would toughen 4G and 3G and broadband service integration.

Deutsche Bank Initiates Coverage on China Life Insurance (LFC) | WKRB News Analysts at Deutsche Bank assumed coverage on shares of China Life Insurance (NYSE:LFC) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.

China Mobile Ltd. : VWO, BZQ: Big ETF Outflows | 4-Traders Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Vanguard FTSE Emerging Markets ETF (VWO), where 9.2 million units were destroyed, or a 0.8% decrease week over week. Among the largest underlying components of VWO, in morning trading today China Mobile (CHL) is down about 0.3%.

Jeep Cherokee Pricing Revealed For China – $61,000USD to $76,000USD | China Car Times – China Auto News Jeep’s pricing for the New Cherokee was revealed earlier today, the base 2.4L model starts at 375,900RMB and rises to 459,900RMB for the top of the line 2.4L model, the flagship 3.2L pricing hasn’t yet been announced but it is expected to be in the 500,000RMB and rising area.

Posted from Diigo.

China Stock Watch 6/1/14

Several substantial losses today, mostly following from the news of the death of China Railway Group chairman Bai Zhongren in what seems to be a suspected suicide, perhaps promoted by unmanageable corporate debts. Rumours are obviously unsubstantiated, but attest to the absence of information, and the fears that arise because of that. China Railway Group closed down 4.20% while China Railway Construction falling even further, declining 4.42%. China Shenhua (-3.38%) and SAIC Motor (-2.9%) were not far behind.

Oil companies were the best performer on the day, with news of developments away from coal and renewables. Sinopec closed up 2.05% and PetroChina up 1.83%, while CNOOC shaded up 0.14%.

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.47 +0.09 (2.05%) 521,046.93M 7.03 4.05 CN¥0.62 7.27
PetroChina 7.78 +0.14 (1.83%) 1.42B 9.5 7.08 CN¥0.68 11.51
ICBC 3.54 -0.02 (-0.56%) 1.24B 4.53 3.4 CN¥0.74 4.81
China Construction Bank 4.08 +0.01 (0.25%) 1.02B 5.19 3.8 CN¥0.85 4.82
Agricultural Bank 2.44 -0.02 (-0.81%) 792,497.66M 3.28 2.38 CN¥0.50 4.86
Bank of China 2.53 -0.03 (-1.17%) 706,792.31M 3.26 2.48 CN¥0.53 4.77
China Mobile 78.20* -0.40 (-0.51%) 1.57B 91.8 74.9 HK$8.20 9.54
Noble Group 1.03 0.00 (-0.48%) 6,859.03M 1.27 0.785 SGD0.04 28.56
China State Construction 3.03 -0.05 (-1.62%) 90,900.00M 4.18 2.9 CN¥0.62 4.92
CNOOC 13.84* +0.02 (0.14%) 617,920.80M 17.38 12.04 HK$1.89 7.31
China Railway Construction 4.32 -0.20 (-4.42%) 53,298.18M 6.49 3.95 CN¥0.84 5.13
China Railway Group 2.51 -0.11 (-4.20%) 53,462.75M 3.41 2.3 CN¥0.44 5.72
SAIC Motor 13.06 -0.39 (-2.90%) 143,993.90M 19 11.83 CN¥2.05 6.37
China Life Insurance 14.78 +0.21 (1.44%) 417,752.33M 22.7 12.88 CN¥0.97 15.29
Dongfeng Motor 11.78* -0.18 (-1.51%) 101,497.89M 13.28 9.48 HK$1.38 8.55
China Shenhua 14.85 -0.52 (-3.38%) 295,360.87M 25.7 14.83 CN¥2.25 6.6
Ping An Insurance 40.29 0.00 (0.00%) 318,941.37M 53.27 31.69 CN¥3.45 11.68
China Telecom 3.74* -0.02 (-0.53%) 302,687.06M 4.42 3.48 HK$0.26 14.47
China Communications Construction 3.86 -0.10 (-2.53%) 62,434.48M 5.79 3.8 CN¥0.81 4.77
Bank of Communications 3.76 -0.03 (-0.79%) 279,227.85M 5.68 3.65 CN¥0.84 4.46

China Business Briefs 6/1/14

ECONOMY

China draws up new rules to curb shadow banking risks – FT.com The draft regulations, a copy of which was obtained by the Financial Times, mark an attempt by the government to better co-ordinate regulation of the country’s shadow banks, but also indicate a more permissive official stance than many observers had anticipated.

China approves pilot plan to set up 3-5 private banks | Reuters China has approved a pilot scheme allowing the setting up of three to five private banks, the regulator said on Monday, in a step to boost financial support for cash-starved smaller firm

Chinese leaders have pledged to open up the banking sector, now dominated by big state-owned lenders, to private investors to help boost competition and increase lending to small firms, who are often neglected by the big banks.

Diverse ownership to boost SOE reforms – Headlines, features, photo and videos from ecns.cn|china|news|chinanews|ecns|cns Ding Yifan, deputy director of the Institute of World Development under the State Council’s Development Research Center, said a communique, issued after a key meeting of the Communist Party of China (CPC) Central Committee, set diverse ownership as the future development direction.

The move is a result of complaints about SOEs’ low efficiency and them receiving too many favors from government, said Ding in a program on Chinese reforms aired on Sunday on China Xinhua News Agency Network Co. Ltd. (CNC).

The three big listing themes in 2014 | South China Morning Post While Hong Kong’s equity market may have yet to shake off its holiday lethargy, IPO Watch is casting a glance back into 2013 to explore three important issues that may serve as a guide for stock picking among this year’s listing hopefuls. At least one of the trends is likely to emerge as the defining issue of the city’s listing market in 2014.

China to strengthen delisting rules – Business – Chinadaily.com.cn More issues need to be made clearer concerning the legal basis for delisting in such cases, the definition of a major violation, and the approach for delisting, Monday’s Shanghai Securities News quoted Xiao Gang, chairman of the China Securities Regulatory Commission, as saying.

Half of delistings in recent years in China were voluntary due to companies’ strategic restructuring or privatization, according to Xiao. He added that delisting will become a neutral mechanism, under which rule breaking or legal violations will not be tolerated.

China’s “Big Four” Banks Extend New Loans of CNY180B in December-Caijing China’s biggest four banks extended 180 billion yuan of new loans in December, while new deposits attracted by the state-owned banks surged 1.2 trillion yuan in the same month, reported by the Shanghai Securities News.

With money supply well above target, there is a good chance that banks are cautious in extending loans as planned, said Lu Zhengwei, chief economist with Industrial Bank. Chinese banks all together lent 8.4 trillion yuan in the first 11 months of this year, leaving 600 billion for December if they follow strictly of the full year target of 9 trillion yuan.

China Wages Seen Jumping in 2014 Amid Shift to Services: – Bloomberg Lu Ting, a Hong Kong-based economist for Bank of America, said in an e-mail that he sees wage growth of 11 percent this year after an estimated 10.7 percent gain in 2013. JPMorgan Chase & Co. and Mizuho Securities Asia Ltd. analysts said in interviews that they predict 10 percent to 15 percent increases.

China’s ruling Communist Party is pushing for pay increases to retain public support and to accelerate the nation’s shift away from polluting and capital-intensive manufacturing to a more services-driven economy. In minimum-wage increases so far announced for 2014, workers in Shenzhen in Guangdong province get a 13 percent boost and the gain for those in Yangzhou, Jiangsu province, is 15.6 percent.

Govt campaign to ensure migrant workers’ wages – Business – Chinadaily.com.cn The Ministry of Human Resources and Social Security said in a statement that five working teams will be sent to eight provinces including Zhejiang and Hubei to inspect employers’ salary payments to migrant workers as well as local governments’ related supervisory work.

The statement said that the campaign will urge local authorities to take effective measures to ensure migrant workers get paid in full before the Spring Festival, which falls on Jan 31.

Regional Conflicts in the South China Sea Could Rival the Middle East One Day The South China Sea reportedly holds 11 billion barrels of oil and 190 trillion cubic feet of natural gas. That might actually only tell half of the story as the US Geological Survey estimates that as much as 22 billion barrels of oil could lie underneath the seabed. Unfortunately, there’s no clear way to define who “owns” these resources, as China, Vietnam, Malaysia, Taiwan, the Philippines, Indonesia and Brunei all believe some, or all, of these resources belong to them.

This is in fact one reason why nearly a third of all global crude oil passes through the South China Sea each year. The combination of potentially disputed oil underneath the sea, as well as its importance in the global oil trade makes this region a potential future hotbed for conflict. Clearly, peace in the South China Sea is vital to maintain regional stability.

Futures market records major increase |Markets |chinadaily.com.cn Combined trading volumes in the futures market in 2013 jumped to 2.06 billion contracts, 42.15 percent year-on-year growth, the CFA said.

China’s Financial Futures Exchange’s trading volume jumped to 190 million contracts in 2013, an 84.22 percent increase with trading value of 141 trillion yuan, representing an 85.92 percent year-on-year increase.

Rising home prices send China’s ‘Rat Race’ scurrying underground | Reuters That’s pushing more and more newly arrived urbanites underground. Of the estimated 7.7 million migrants living in Beijing, nearly a fifth live either at their workplace or underground, according to state news agency Xinhua. Beijing’s housing authority refuted this statistic, saying in an email to Reuters that a government survey last year found only about 280,000 migrants living in basements and that only a small percentage of Beijing’s basements were being used as dwellings.

Foreign Banks Are Optimistic on China Reform, Ernst & Young Says – Businessweek “With gradual and successive financial reforms taking place in China, foreign banks are optimistic about their future in China,” Ernst & Young said in a statement in Shanghai today after surveying 38 overseas lenders. Respondents expect a “modest improvement” in their performance over the next three years, the New York-based accounting firm said.

Foreign lenders are struggling to expand their market share of less than 2 percent in the world’s second-largest economy, where banking assets more than doubled since 2008 to 147 trillion yuan ($24 trillion) as of Sept. 30. Global banks face government restrictions on adding branches and offering products as local rivals churn out record profits.

China’s domestic and outbound tourism to keep growing in 2014|Economy|News|WantChinaTimes.com The report made a positive prediction for 2014, forecasting that both the number of tourists and their spending will increase. The number of people traveling abroad may reach as high as 114 million, a 16% hike from 2013, and their spending will increase by at least 18%, according to the report. In terms of country-wide travel, the number of domestic tourists is estimated to reach 3.58 billion, while they are forecast to spend 3.2 trillion (US$528.8 billion).

Luxury cigarette prices fall after Beijing ban|Economy|News|WantChinaTimes.com Prices of luxury cigarettes have been slashed in Beijing following the Chinese government’s ban on extravagant official spending, reports the Beijing Youth Daily, the official newspaper of the Communist Youth League in Beijing.

Taobao lures Russian shoppers – Business – Chinadaily.com.cn Russians, especially young people, have increasingly been buying goods from China. Taobao data showed about $2 million worth of goods were sent to Russia in February. The figure doubled in May.

China’s Leaders Move to Rein In Steel Mecca – WSJ.com In the past two months, the local government in Hebei, a province roughly the size of Oklahoma that produces a quarter of China’s steel, has orchestrated a parade of furnace shutdowns. The head of its top steelmaker has resigned. Mills are scrambling to switch to more fuel-efficient material.

Chinese leaders are telling the province that its measures aren’t enough. Spurred in part by severe pollution that drifts from Hebei to next-door Beijing, the central government has set a goal of lopping off nearly a quarter of the province’s steelmaking capacity.

China to open tech niches to foreign investors – MarketWatch China will open information services and data storage services to foreign investment in the free trade zone, according to a notice posted on the website of the Ministry of Industry and Information Technology. Foreign ownership cannot exceed 50%.

Online data processing will be opened to foreign investment, but foreign ownership cannot exceed 55%. So will virtual private networks, though foreign ownership in these will be limited to 50%.

The 2014 Outlook for the People’s Bank of China – China Real Time Report – WSJ China’s central bank needs to get a mix of offense and defense right in 2014. On the offense, People’s Bank of China Gov. Zhou Xiaochuan was brought back for a third term by China’s top leaders, despite Mr. Zhou having reached the bank’s retirement age of 65. Mr. Zhou’s mission: to put in place a reform agenda that stalled under China’s former leaders.

On defense, the PBOC must decide how to slow China’s escalating debt, which has grown so rapidly over the past five years that it reminds Chinese and foreign economists alike of the credit bubbles that eventually burst in the U.S., Europe and other parts of Asia. First, the PBOC must decide what to do. Boost interest rates? More tightly regulate so-called shadow lenders, such as trust companies and informal lenders, which work out complicated deals with the banks to hide risky loans?

China’s growth is a contradiction, but that’s how we like it | China Economic Review China Economic Review has compiled a list of the best predictions for 2014 while also assuring readers that the world will look at China with awe, antipathy, disgust and envy all at once this year.

Private businessmen crimes rise – BUSINESS – Globaltimes.cn Private entrepreneurs were found guilty of, or had allegedly committed three-quarters of 357 publicly reported entrepreneurial crimes in the country over the past year, the results of an annual Chinese entrepreneur crime report showed over the weekend.

China Evaluating Tax on Foreign Exchange & Capital Flows | China Briefing News China’s State Administration of Foreign Exchange (SAFE) – the regulatory body that oversees all movements of capital out of, and into the country has called for an “in depth study” on the potential imposition of a so-called “Tobin Tax” – a tax on all spot conversions of one currency into another. Named after the Nobel Prize winning economist James Tobin, the tax was originally meant to be used for curbing short term round trip excursions into another currency to prevent deliberate destabilization of national currencies being wrought by market traders.  China however seems to be evaluating its use as a means to control currency flows even as the Chinese RMB is being liberalized.

What’s Trust in China Got To Do With Our Success? Integrity and caring build trust in China. We should be doing that with our workers in China, but we should also insure or direct reports and other important positions have that. Trust in China is worth big money. It makes teams go and must come from top leaders.

China IP infringement As China lawyers, we are all too frequently contacted by our clients who need help dealing with IP infringement in China. As a first step, we analyze the situation and propose a course of action.  The following is an amalgamation of memoranda, done so as to convey both what goes on out there and how to deal with it.  Most importantly, however, it is intended to provide a path towards preventing IP infringement through proactive trademark and copyright registrations.

Video: Ice Festival preparations hot up in Harbin, China – Telegraph According to organisers, the festival is one of the largest in the world stretching to 6,458,400 square feet.

COMPANIES

China Railway Group chairman dies – Headlines, features, photo and videos from ecns.cn|china|news|chinanews|ecns|cns The chairman of China Railway Group Ltd Bai Zhongren died at his home Saturday, Securities Times reported Sunday.

The company’s spokesperson has confirmed the information, but said the company’s operations were normal, the report said. The report also said that Bai had been suffering depression for years, without disclosing the reason why he died.

China Railway Group President Bai Zhongren’s Death From An Unspecified Accident Might Be A Suicide: Local Media However, China Business News, a local newspaper, citing unidentified sources, said that the 53-year-old jumped to his death from a fourth-story window at his home, after suffering from depression in recent months due to his company’s mounting debt.

China Railway Shares Plunge After Company President’s Death – Wall Street Journal – WSJ.com The shares of China’s second-largest construction contractor by revenue after China Railway Construction Corp. fell as much as 7.2% in Hong Kong on Monday, then recouped some of the losses, to end 4.1% lower at 3.75 Hong Kong dollars (US$0.48) per share. It was the lowest close since July 15.

China Harbin Bank Seeks to Raise $1 Billion Via Hong Kong IPO – WSJ.com If it gets listing approval from Hong Kong’s stock exchange, Harbin Bank would be the fourth Chinese bank to go public in Hong Kong since a wave of offerings kicked off in November. Chinese banks have been raising money through Hong Kong IPOs as a way of replenishing their capital amid tighter regulatory requirements, and as bad loans increase while the economy slows.

In December, Hong Kong was home to a $3 billion offering by China Everbright Bank, the country’s 11th largest bank by assets, in what was the city’s biggest IPO of 2013. Everbright Bank’s IPO came just weeks after two smaller Chinese banks, Huishang Bank Corp. and Bank of Chongqing, raised about $2 billion in total in November.

In China you can now hail a cab and pay the driver on WeChat That was fast – just days after Chinese tech giant Tencent (HKG:0700) threw some cash into the massive series C funding round for taxi-hailing app Didi Dache, WeChat, Tencent’s behemoth messaging app, has added a feature that lets users hail a taxi on-demand using Didi’s network.

Alibaba and Sina Weibo partner up to bring Weibo Wallet to mobile The introductory splash-screen for the updated Sina Weibo app – now at v4.2 – tells users they can make payments within Weibo for any product that someone shares or links to within the app. It promises that “paying online is just a tap away.” A “Wallet” section now appears in the “Me” area of the Sina Weibo app. However, it’s poorly implemented right now, and there’s no explanation of how to connect this new Weibo Wallet to any e-payment service or bank card.

Oil Tycoon Denies Hu Yaobang’s Family Is Linked to His Business – Oil tycoon Wang Letian says that the family of former Communist Party general secretary Hu Yaobang was not linked to his deals for oilfields.

Wang bought several fields in 2008 in the northwestern province of Shaanxi from state-owned China National Petroleum Corp. (CNPC) via an intermediary, Zhou Bin, the son of a former top leader. Zhou is currently embroiled in a corruption investigation.

Wang said that he paid for the oil fields and buying them through an intermediary was a choice he made only reluctantly because private oil companies had no access to productive reserves.

China Mobile Probes Loss-Making Exit From Hong Kong TV – Bloomberg China Mobile Communications Corp., the parent of the world’s largest phone company, is probing a decision by its Hong Kong unit to exit the territory’s television market at a loss one year after introducing service.

China Mobile is investigating whether the transaction meets its internal guidelines as well as regulations of China’s State-owned Assets Supervision and Administration Commission, the company said in an e-mail today. The sale involved a unit that owned spectrum to broadcast mobile television service in Hong Kong, the company said, without identifying the buyer.

CNOOC to close new energy unit – BUSINESS – Globaltimes.cn China’s third-largest national oil company decided to end one of its renewable energy subsidiaries, according to media reports, as the country’s lackluster new energy market continues to struggle with limited demand and high production costs, analysts said Sunday.

China National Offshore Oil Corp (CNOOC) plans to dissolve its subsidiary CNOOC New Energy Investment Co, a Beijing-based firm which mainly explores and produces several forms of renewable energy including wind power, coal-based clean energy and biomass energy, the Beijing-based Economic Observer newspaper reported Friday.

Dalian Wanda building theme park to rival Shanghai Disney Resort|WantChinaTimes.com China’s richest man, Wang Jianlin, plans to spend 30 billion yuan (US$5 billion) to build a theme park to rival the Shanghai Disney Resort as he explores possibilities for the future of his property development company, reports the Beijing News.

“I’m targeting Disney. I never have blind faith in foreigners. I will prove that a tourism project built by the Chinese can compete with the so-called famous brands from the United States,” Wang said.

Shenhua Energy Co. Ltd., Energy Corp. of America plan Marcellus wells – Pittsburgh Business Times The biggest coal company in the world, China’s state-owned Shenhua Energy Co. Ltd., is making a big commitment to drilling for natural gas in southwestern Pennsylvania.

Shenhua is making a $90 million investment in a joint venture with Energy Corporation of America to drill for natural gas in Greene County.

SINOPEC Engineering Group Co Ltd : Sinopec plans to build $3.1bn plant | 4-Traders Sinopec Engineering Group said it has entered into a deal to build a $3.1 billion plant in northern China to turn coal into petrochemicals, as China seeks to reduce its reliance on petrochemical imports.

Sinopec Engineering will be responsible for engineering, procurement and construction of the 18.67 billion-yuan project in Inner Mongolia, which it said would be the largest of its kind in the world.

Taking off – BUSINESS – Globaltimes.cn Cathay Pacific Services Ltd, a wholly owned subsidiary of Cathay Pacific Airways, is one of several companies betting on a sharp increase in air freight in coming years.

The company spent HK$5.9 billion ($760 million) in 2013 to build a new cargo terminal at Hong Kong International Airport. It now has the capacity to deal with 2.6 million tons of goods annually, taking the total annual freight capacity at Hong Kong International Airport to 7.4 million tons.

Qunar Jumps on Mobile User Growth as Ctrip Tumbles – Bloomberg Qunar, based in Beijing, rallied 11 percent on Jan. 3 to the highest level since its U.S. debut in November. The Bloomberg China-US Equity Index of the most traded Chinese stocks in New York slid 1.5 percent, capping a 2.5 percent slump last week. Ctrip.com, China’s biggest online travel agency, led declines on the gauge with a 7.9 percent retreat.

In China, Crowd-Funded Concerts Are Catching On With Fans – China Real Time Report – WSJ On a recent weeknight in Beijing, about 800 people gathered at a club in downtown Beijing to watch a performance by pop singer Li Quan and Li Daimo, a singer made popular by the “Voice of China” TV show. At home, several hundred more participants were tuning into the concert live from their computers or smartphones.

The concert was organized by Xiami, a Hangzhou-based online music portal owned by e-commerce giant Alibaba Group, in its first such initiative using crowd-sourced funding via Alibaba’s Taobao online shopping platform.

China,Germany,Japan,United Kingdom : CHINA launches SHANGHAI INSTITUTE OF MARINE INSURANCE | 4-Traders China launches its first marine insurance association called the Shanghai Institute of Marine Insurance.

The association s members include Chinese insurers Ping An Insurance (PAI), People’s Insurance Company of China (PICC) and China Pacific Insurance Company (CPIC).

Foreign companies, including Lloyd’s, Sumitomo Mitsui and Allianz are also members.

Honda says Dec China auto sales up 60 pct y/y | Reuters Honda Motor Co Ltd and its two local joint ventures sold a record 101,465 automobiles in China in December, up 60.4 percent from a year earlier, the Japanese automaker said on Monday.

AMEC plc : Amec Gets 6-Year Nexen Petroleum UK EPC Contract | 4-Traders AMEC PLC, an international engineering and project management company, said Monday it has been appointed by Nexen Petroleum U.K. Ltd., a wholly-owned subsidiary of CNOOC Ltd., to provide engineering, procurement and construction services for their North Sea offshore assets.

Li Ka-shing to spin off Hong Kong electricity distribution unit – FT.com Li Ka-shing’s power generation and supply group will set up the first test of Hong Kong’s equity markets for 2014 when it begins marketing the spin-off of its local electricity distribution business to investors on Monday.

It is the biggest listing in the city since AIA’s $20.5bn sale in 2010 and the largest anywhere in Asia since Japan Airlines’ $8.5bn deal in September 2012, according to Dealogic.

Apple Inc. (NASDAQ:AAPL) Used This Strategy to Win Over China Mobile Ltd. (ADR) (NYSE:CHL) Apple Inc. (NASDAQ:AAPL) employs a tactical marketing strategy that always helps the company to succeed even when it was expected to fail. While entering a new market which presents both challenges and opportunities the company does rush to cut deals with market leaders. Instead, it actually goes for the smaller players.

Minsheng uses aircraft business to expand overseas | South China Morning Post While many of the big names in mainland banking have expanded overseas by opening branches or acquiring foreign assets, China Minsheng Bank has adopted a different approach and is building its brand through aircraft leasing.

Its Minsheng Financial Leasing unit, one of the first five mainland financial leasing companies with a banking background to be approved by the China Banking Regulatory Commission, has recently expanded its private jet leasing to commercial aircraft after setting up Minsheng Commercial Aviation in Hong Kong.

Interview: Innovation key to success of Lenovo – Xinhua | English.news.cn “Lenovo’s innovation lies in its technology, products, business model and cultural management. Its name, which was changed from Legend in 2003, is a combination of ‘legend’ and ‘novo’, a Latin word meaning new,” Yang told Xinhua during an interview.

In 2013, Lenovo ranked first in the PC market taking 17.7 percent of market share worldwide. It is welcoming the post-PC era with 4G technology, Internet development and multiple terminal devices, said Liu.

Firms’ Acquisition Fight Shows How Rules for Overseas Investments Are Changing – A recent acquisition battle between two Chinese companies over a Cayman-registered semiconductor firm has shed light into the China’s changing overseas investment approval system.

Why NEXON’s BNB Failed to Accuse Tencent’s “QQ堂” of Copyright Infringement? | Bridge IP Law Commentary In recent years, there is serious plagiarism in the field of online games. Considering that online game acts as computer software, however, laws protect its “code” other than game mode and method. The case in today’s post will disclose this principle for us.

Posted from Diigo.

Top China Stocks Annual Performance 2013

Well, the year end is upon us, and we’ve heard how the Shanghai Composite Index has done over 2013. But what about the twenty major stocks which this website tracks? Let’s take a look. (All charts and data are from Google Finance).

Sinopec -27.11%

Sinopec 2013

PetroChina -13.95%

PetroChina 2013

ICBC -12.47%

ICBC 2013

China Construction Bank -8.63%

China Construction Bank 2013

Agricultural Bank of China -10.51%

Agricultural Bank 2013

Bank of China -9.03%

Bank of China 2013

China Mobile -11.08%

China Mobile 2013

Noble Group -8.94%

Noble Group 2013

China State Construction Engineering -18.23%

China State Constuction Engineering  2013

CNOOC -14.37%

CNOOC 2013

China Railway Construction -19.66%

China Railway Construction 2013

China Railway Group -12.17%

China Railway Group 2013

SAIC Motor -16.97%

SAIC Motor 2013

China Life Insurance -25.05%

China Life Insurance 2013

Dongfeng Motor +0.83%

Dongfeng Motor 2013

China Shenghua Energy -36.2%

China Shenhua Energy 2013

Ping An Insurance -5.22%

Ping An Insurance 2013

China Telecom -7.76%

China Telecom 2013

China Communications Construction -22.2%

China Communications Construction 2013

Bank of Communications -20.5%

Bank of Communications 2013

In a handy chart:

Name % Change
Dongfeng Motor +0.83%
Ping An Insurance -5.22%
China Telecom -7.76%
China Construction Bank -8.63%
Noble Group -8.94%
Bank of China -9.03%
Agricultural Bank -10.51%
China Mobile -11.08%
China Railway Group -12.17%
ICBC -12.47%
PetroChina -13.95%
CNOOC -14.37%
SAIC Motor -16.97%
China State Construction Engineering -18.23%
China Railway Construction -19.66%
Bank of Communications -20.5%
China Communications Construction -22.2%
China Life Insurance -25.05%
Sinopec -27.11%
China Shenhua Energy -36.2%

2013 has been very poor indeed for major Chinese stocks. No wonder SOEs have been warned that poor performance will be “severely dealt with“. (While all the companies listed are on the stock market, most still have substantial state ownership, and even more substantial state influence). But it’s equally clear that things have to change.

China Stock Watch 23/12/13

After the marked falls last week, most major stocks trended up today as the PBoC provided liquidity to the banking system. The relief on the part of the banks was marked, with China Construction Bank rising 5.3% to RMB4.17, while Bank of Communications was up 2.33% to RMB3.95 and Bank of China up 1.52% to RMB2.66 a share. China Mobile‘s long-awaited agreement with Apple also led to a gain of 0.81% to HK$80.55. Overall, fifteen of the twenty major stocks closed up on the day, with the largest gains going banks and insurance companies. Three stocks fell on the day, two of them China Railway Construction (-2.08%) and China Railway Group (-0.37%).

The Shanghai Composite Index finished up 4.91 points (0.24%) to close at 2,089.71.

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.6 +0.05 (1.10%) 536,200M 7.03 4.05 CN¥0.62 7.48
PetroChina 7.69 0.00 (0.00%) 1.41B 9.5 7.08 CN¥0.68 11.38
ICBC 3.58 +0.01 (0.28%) 1.26B 4.53 3.4 CN¥0.74 4.87
China Construction Bank 4.17 +0.21 (5.30%) 1.04B 5.19 3.8 CN¥0.85 4.93
Agricultural Bank 2.48 +0.03 (1.22%) 805,489M 3.28 2.38 CN¥0.50 4.94
Bank of China 2.66 +0.04 (1.53%) 742,535M 3.26 2.48 CN¥0.53 5.01
China Mobile 80.55* +0.65 (0.81%) 1.62B 91.8 74.9 HK$8.17 9.86
Noble Group 1.03 0.00 (0.00%) 6,826M 1.27 0.785 SGD0.04 28.45
China State Construction 3.18 +0.01 (0.32%) 95,400M 4.18 2.9 CN¥0.62 5.16
CNOOC 14.24* +0.10 (0.71%) 635,780M 17.38 12.04 HK$1.89 7.54
China Railway Construction 4.71 -0.10 (-2.08%) 58,110M 6.49 3.95 CN¥0.84 5.59
China Railway Group 2.71 -0.01 (-0.37%) 57,723M 3.41 2.3 CN¥0.44 6.18
SAIC Motor 13.81 +0.23 (1.69%) 152,263M 19 11.83 CN¥2.05 6.73
China Life Insurance 14.7 +0.19 (1.31%) 415,491M 22.7 12.88 CN¥0.97 15.21
Dongfeng Motor 12.46* +0.02 (0.16%) 107,357M 13.28 9.48 HK$1.37 9.08
China Shenhua 15.76 +0.13 (0.83%) 313,460M 25.7 15.51 CN¥2.25 7
Ping An Insurance 39.52 +0.55 (1.41%) 312,846M 53.27 31.69 CN¥3.45 11.46
China Telecom 3.82* +0.01 (0.26%) 309,162M 4.46 3.48 HK$0.26 14.83
China Communications Construction 4.04 -0.01 (-0.25%) 65,346M 5.79 3.8 CN¥0.81 4.99
Bank of Communications 3.95 +0.09 (2.33%) 293,338M 5.68 3.65 CN¥0.84 4.69

China Stock Watch 27/11/13

Major stocks were mostly on the up today, with fourteen closing the day showing rises, and only four falling. China Railway Group and China Railway Construction were notable risers, up 1.71% and 2.73% respectively, while Ping An Insurance also made a good show, up 2.22%. Continued speculation of a deal with Apple, and good results from its gaming division, continued China Mobile‘s good form, up 1.59%

Conglomerate Noble Group was the biggest faller, down 0.89%.

The Shanghai Composite Index rose 18 points, or 0.82%, to 2,201.07. Talk of a sustained rise still seems premature, when shocks like the Qingdao disaster can happen. This is the trouble of a developing nation: infrastructure and institutional experience are still shaky. You should never forget that market reforms are only thirty-odd years old.

Name Price Change Mkt cap 52wk high 52wk low EPS P/E
Sinopec 4.72 0.00 (0.00%) 550,188.10M 7.73 4.05 CN¥0.62 7.67
PetroChina 7.89 -0.03 (-0.38%) 1.44B 9.5 7.08 CN¥0.68 11.68
ICBC 3.8 +0.01 (0.26%) 1.33B 4.53 3.4 CN¥0.74 5.17
China Construction Bank 4.39 +0.02 (0.46%) 1.10B 5.19 3.9 CN¥0.85 5.19
Agricultural Bank 2.6 +0.01 (0.39%) 844,464.67M 3.28 2.38 CN¥0.50 5.18
Bank of China 2.8 0.00 (0.00%) 781,615.74M 3.26 2.48 CN¥0.53 5.27
China Mobile 82.95* +1.30 (1.59%) 1.67B 91.8 74.9 HK$8.14 10.19
Noble Group 1.11 -0.01 (-0.89%) 7,356.06M 1.27 0.785 SGD0.04 31.06
China State Construction 3.25 -0.01 (-0.31%) 97,500.00M 4.18 2.9 CN¥0.62 5.28
CNOOC 15.62* +0.04 (0.26%) 697,393.26M 17.38 12.04 HK$1.88 8.31
China Railway Construction 5.35 +0.09 (1.71%) 66,005.85M 6.49 3.95 CN¥0.84 6.35
China Railway Group 3.01 +0.08 (2.73%) 64,112.70M 3.41 2.3 CN¥0.44 6.87
SAIC Motor 15.16 +0.15 (1.00%) 167,147.59M 19 11.83 CN¥2.05 7.39
China Life Insurance 15.75 +0.28 (1.81%) 445,169.10M 22.7 12.88 CN¥0.97 16.29
Dongfeng Motor 12.24* -0.06 (-0.49%) 105,461.31M 13.26 9.48 HK$1.37 8.95
China Shenhua 16.79 +0.24 (1.45%) 333,946.75M 25.7 15.51 CN¥2.25 7.46
Ping An Insurance 41.45 +0.90 (2.22%) 328,124.10M 53.27 31.69 CN¥3.45 12.02
China Telecom 4.11* +0.02 (0.49%) 332,632.04M 4.46 3.48 HK$0.26 16.02
China Communications Construction 4.22 +0.04 (0.96%) 68,257.38M 5.79 3.8 CN¥0.81 5.21
Bank of Communications 4.12 +0.01 (0.24%) 305,962.43M 5.68 3.68 CN¥0.84 4.89