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China, relevante Meldungen - Die letzten 30 Beiträge


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Antwort auf Beitrag Nr.: 57.917.283 von Popeye82 am 06.06.18 07:28:24China’s debt activity falls, to two-year low, in May

"The new rules introduced by the Chinese government in recent months aimed at restricting sources of debt financing seem to be taking effect, as total social financing fell considerably during May, according to data from the People’s Bank of China released Tuesday.

Total Social Financing, or TSF, came in at RMB 761 billion ($119 billion) last month, the lowest posting for almost two years. Analysts have pointed to a precipitous decline in bond financing, and particularly shadow banking, as the primary cause.

In terms of growth, this means that May’s increase in TSF slowed to 10.3% year-on-year from 10.5% in April amid the tighter monetary conditions and regulations. Asset management products have been hit with new rules to break implicit guarantees, stem the growth of non-standardised debt assets, and bring more activity onto the balance sheet.

Whilst bank lending grew by 38%, off-balance-sheet lending, namely entrusted loans, trust loans and bank acceptance bills, fell by RMB 421.5 billion in May. Corporate bond financing also fell RMB 43 billion, the largest drop in 12 months."
China eases restrictions on foreign investors’ capital flows

"The State Administration of Foreign Exchange published new revised rules that will allow foreign investors to transfer money overseas more easily, taking immediate effect.

As Caixin reports, the rules put an end to the previous 20% monthly cap on moving assets out of China’s mainland, as stipulated by the Qualified Foreign Institutional Investor (QFII) program, as well as other features such as the three-month lockup period for investments.

Investors participating in the program, and its yuan-denominated version RQFII, will be free to move money between Chinese and overseas accounts depending on their requirements and can hedge against movements in foreign exchange.

According to official data, QFII and RQFII had received totals of $99.46 billion and $96.2 billion respectively as of the end of May."
Malaysia hints at Chinese links in 1MDB financial scandal

"A pair of Beijing-backed infrastructure projects is being investigated by the Malaysian government for supposed links to the corrupt state investment fund involved in the 1MDB scandal.

The country’s finance minister Lim Guan Eng said that the previous government, led by the recently defeated Najib Razak, had agreed to make payments on two Chinese-built oil and gas pipelines with a combined cost of over $2 billion, without paying attention to the projects’ progress.

According to the Financial Times, the two three-year projects had only completed 13% of the total construction 12 months into development, yet 90% of the invoice had been paid by Malaysia’s government to the Chinese state-backed Petroleum Pipeline Bureau.

“We are strongly suspicious this is all part of the 1MDB scam,” said Lim. “The problem of course lies with the local treasury officials and the leaders who approved and signed not only the contract but also the payments.”"
Chinese solar industry begs government to delay subsidy cuts

"Executives from 11 Chinese solar panel manufacturing companies have sent a letter to the state-run Xinhua News Agency demanding that the government delay its plans to cut back on the number of new solar power projects and cut subsidies to the solar industry, the South China Morning Post reports.

The letter claims that Chinese solar companies have amassed large debts in a bid to compete with traditional power generators and therefore need up to five years more government support.

On June 1, China’s National Development and Reform Commission announced that it will install just 30 gigawatts of new solar capacity this year, down from 53 GW in 2017, in a bid to “optimize” the sector. This is likely a reference to the fact that much renewable energy capacity in China often lies idle, because it is built up rapidly in areas where demand for power is relatively low and the grid infrastructure is unable to transfer the power to areas with higher demand.

The NDRC’s proposals would also cancel any new solar plants that require subsidies."
Banks required to share corporate debt information with other lenders

"New rules laid out by China’s banking regulator will require banks lending to the same client to share the borrower’s credit history as well as set a limit for the funds the client can take on, Caixin reports.

Continuing Beijing’s deleveraging campaign, this latest round of regulation hopes to put restrictions on companies taking on irresponsible levels of debt from multiple lenders, according to the China Banking and Insurance Regulatory Commission.

Banks sharing a customer will share information such as the borrower’s total debt levels, any unreported affiliated companies, cross-checking the firm’s financials and repayment programs with one another.

Lenders must also agree on a “joint credit granting mechanism” for companies borrowing over RMB 5 billion ($780 million) from over three separate banks."
Myanmar reconsidering $9bn Chinese-backed Belt and Road project

"Myanmar’s government is having second thoughts about a $9 billion port construction project financed by China, reports the Financial Times, amid concerns of the port coming under Chinese control should the country fail on its debt repayments.

Construction of the deepwater port will be led by China’s Citic Group, which will head a consortium responsible for 70% of the project, while Myanmar’s government takes the other 30%.

Officials are attempting to negotiate down the costs of the Kyaukpyu port in western Myanmar. The port, when completed, will provide China with a highly-desired trading corridor to the Indian Ocean that does not necessitate passing through the Malacca Straits. It is one of the many individual projects comprising Beijing’s recent ‘Belt and Road’ regional infrastructure initiative.

Kyaukpyu, one of Myanmar’s largest ever infrastructure projects, is giving policymakers “nightmares”, reports one official. “If the project doesn’t do well, there is the risk of defaulting and becoming a Chinese-owned port.” "
China willing to increase US imports, by $70 billion

"Chinese officials have told their US counterparts that China is willing to purchase $70 billion of additional American exports in the next year, quantifying for the first time promises made in recent weeks to reduce the two countries' trade imbalance.

Sources talking to Bloomberg, however, value the figure closer to $25 billion after accounting for products China has already shown interest in buying. Both figures, nevertheless, fall short of the White House's demands made in May to cut the deficit by $200 billion over the next two years.

Following US Commerce Secretary Wilbur Ross' inconclusive visit to Beijing last weekend, China warned that all promises it had made pertaining to US imports depended on the condition of no new tariffs on Chinese goods.

President Trump has yet to meet with his advisors to discuss the US' response to the offer."
Antwort auf Beitrag Nr.: 57.888.090 von Popeye82 am 01.06.18 17:22:08NUR noch Bananen erlaubt ( :mad::mad::mad: )

"China’s agricultural paradigm shift
on: May 31, 2018In: Agriculture, Economics & Trade, Markets, Markets & FinanceTags: No Comments
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By Tristan Kenderdine

China’s agricultural support policies are moving towards marketised institutions, after a decade of state subsidies for direct production resulted in oversupply. A new framework of indirect support will focus on two measures: developing crop insurance for farmers, and developing futures markets for price discovery.

These ‘Insurance plus Futures’ policy pilots currently underway in China represent a giant paradigm shift for global grain and oilseed production. China is simultaneously ending state procurement on much of its agricultural product, while also opening the processing industry to imports.

There are four systemic reforms currently underway to transform China’s agricultural production system from state-procurement to market-priced production: agro-industrial upgrading, agricultural credit, agricultural insurance, and futures price-setting on agricultural commodities.

Agro-industrial upgrading will remain state subsidised, and agricultural credit has proven too difficult to effectively reform. But insurance and futures reforms are soon to move out of the pilot stage and into mainstream policy.

The government will no longer purchase grain directly from peasants, instead replacing state procurement with a new form of agricultural crop insurance. Insurance reforms will gradually step in to replace the social policy function of state procurement guaranteeing peasant incomes. The alliance of peasants and workers is enshrined in the Chinese constitution, and the Chinese Communist Party has an overt yet derogated governance obligation to the peasantry.

As an interim price-setting measure, a ‘target-price’ mechanism is designed to work towards the development of futures contracts, commodities exchanges, and other price formation institutions in China. A target-price is a floor-price at the provincial level on a single commodity, such as corn. Each province may set different prices for the same commodity, introducing some variability into national pricing. However, a range of institutional upgrades are necessary for the upgrade to full-scale futures markets in order to be able to create and transmit credible price signals to buyers and sellers.

These previously hollow institutions, sidelined for decades from actual agricultural production, are to become effective agents in the new pseudo-market model. The government will support the development of futures exchanges to attract technical transfers in human capital and know-how from foreign institutions in order to promote effective institutional integration with global markets.

However, rapidly developing the market institutions necessary to form and transmit commodity price signals will take time.

On the international front, opening to imports does not mean a wholesale opening to foreign capital. China’s Pacific Ocean market-import strategy will be markedly different to its Indian Ocean state-import strategy. Kazakh oilseeds and grains and African fish will come under a very different trade arrangement than rapeseed and soybean imports from North America.

This all means that in the area of international commodities, the gravity of institutional legitimacy is shifting to China, as China’s leaders move the country towards becoming a net importer in a range of commodities. Just as institutions such as the Chicago Board of Trade or the London Metals Exchange have enjoyed institutional legitimacy before it, China hopes that the commodities exchanges in Dalian and Zhengzhou could entice global markets to take signals from China.

This is part of a wider move in China towards greater imports – not just in agriculture. For China, the incentive is not a sudden urge to align with global agricultural commodity trade institutions and practice. Rather, increasing imports is a way for China to expand its leverage over the price-setting institutions of global commodities.

The gravity of China’s agricultural trade is also shifting to the Indian Ocean trade arrangements and away from the Pacific. China opening to more Pacific imports will really be liberalisation after the geo-economic paradigm has already shifted.

While the short-term Trump tariffs will dominate soybean news this year, China ending its policy of state procurement on staple crops is a paradigm shift for global agricultural commodity production.

The long-term move to a market model on domestically produced agricultural commodities and the opening of China’s consumer markets to imports of agricultural commodities would be a massive benefit to China as it sources cheaper grains and oilseeds to service its food needs. For agricultural exporting countries though, if China does open to greater imports, future political risk lies in the institutional legitimacy of price-setting, indices, and exchanges.

Global political factors will likely slow down China’s international import strategy for agricultural commodities. These include the ongoing trade dispute with the United States, exclusion from the Trans-Pacific Partnership, and wider institutionalised global trade uncertainty. However, China is genuinely moving to open agricultural markets while maintaining control of an agro-industrial policy complex.

This is quite an extraordinary situation for China’s agro-industrial development, as it is the opposite of the pattern of other rapidly industrialising East Asian economies. Historically, state-capitalist economies tend to open their manufacturing sector before agriculture.

However, the end game is not convergence with open market economies, but establishing the legitimacy of institutions. Bringing China’s domestic agricultural commodities into market-based production systems should be applauded, yet the financial and social vacuum of doing so while maintaining an essentially peasant population must still be questioned.

Tristan Kenderdine is Research Director at Future Risk and lecturer in Public Administration at Dalian University.
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China to cut tariffs, on consumer goods, in July

"China will cut import tariffs on a list of daily consumer goods to come into effect from July 1st, the State Council announced on Wednesday, as Beijing experiences pressure from the US and Europe to make its markets more open to foreign goods.

Duties on clothing, shoes, kitchenware, and sports supplies will be cut from 15.9% to 7.1%, reports Xinhua, whilst washing machines and home appliances will see tariffs cut from 20.5% to just 8%.

Processed food and fish products will see a similar reduction from 15.2% to 6.9%. Cosmetics and detergents tariffs will fall to 2.9% from 8.4%."
The trade war was never on hold, claims White House trade adviser


"White House senior trade adviser Peter Navarro has seemingly rebuked Treasury Secretary Steve Mnuchin’s comments made last week that the US and China had put their trade war on hold, Bloomberg reports, calling it an “unfortunate sound bite.”

“What we’re having with China is a trade dispute, plain and simple,” said Navarro in an interview on Wednesday. He added that because of trade deals like Nafta and rulings made by the WTO involving China, the US had “lost the trade war long ago.”

White House Press Secretary Sarah Huckabee Sanders also gave an alternative interpretative of Mnuchin’s remarks. The Treasury Secretary “didn’t say it was on hold indefinitely,” according to Sanders. “The president ultimately makes the decisions on trade, and when he does we announce them. And that’s exactly what’s taking in this process.”

Navarro’s comments reinforce the growing sense of divide between members of the White House team on how to tackle China. Whilst Mnuchin had managed to secure promises from China to greatly reduce the bilateral trade deficit, more hawkish officials like Navarro or US Trade Representative Robert Lighthizer think stricter, more punitive measures must be taken."
IMF forecasts China’s growth will slow, to 5,5%, by 2023

"The International Monetary Fund maintained its forecast for China’s annual GDP growth for 2018 at 6.6%, reports the Financial Times. But the fund predicts that this figure will fall to around 5.5% by 2023.

The 6.6% estimate was revised up from 6.5% in January but would still be a 0.3% decline from 2017’s 6.9% – the fastest growth rate the country had seen since 2015.

David Lipton, the IMF’s first deputy managing director, praised China’s welcome change in “policy focus from high-speed to high-quality growth” in the report, referring to President Xi Jinping’s calls to regional governments earlier in the year to sacrifice ambitious growth targets driven by borrowing for more sustainable economic development."
China ON track


"China’s carbon emissions on track, for fastest growth in 7 years
on: May 30, 2018In: Brief, Commodities, Energy & Environment, Politics & SocietyTags: No

A new study has forecast China’s carbon emissions to accelerate further in 2018, despite Beijing’s highly-publicised efforts to switch to greener energy sources and policies.

The study, conducted by US environmental charity Greenpeace, showed that China’s carbon emissions rose 4% in 2018 Q1. Should this rate persist for the remainder of the year, then it would be the fastest yearly increase for China in seven years.

China is already the world’s largest emitter, contributing to over one-quarter of global CO2 production. As the Financial Times reports, the recovery of the Chinese economy in 2017 boosted global emissions which had begun to flatline in the two years previous.

The study was based on Beijing’s own data, casting doubt on the efficacy and seriousness of the government’s anti-pollution policies. Repeated talk of improving air quality and shifting from coal to natural gas may seem cheap if this accelerating trend continues. On Wednesday, Bloomberg reported that China was also considering upping its coal imports from the US to help it reduce the countries’ trade imbalance."

Am 08.03.2018 veröffentlicht
A modern trade route between Asia and Europe is under construction. The gigantic project is the brainchild of Chinese president Xi Jinping.

The New Silk Road is one of the most ambitious undertakings by far to be put forward by the Chinese president Xi Jinping. 10,000 kilometers of road, a railway line and a shipping route are to run from western China to Europe via Kazakhstan, the Urals and Moscow. Since the start of the 21st century China has become the most important export nation on the global stage. But in light of increasing tensions in the South China Sea and the threat from North Korea, it’s becoming more and more important for China to open up alternative trade routes. As a result the country has turned its gaze westward, to central Asia with its many resources and to Europe, which is still its most important trading partner. The construction of the road with the parallel railway line has already begun in Chongqing, a megacity in the country’s interior that’s just one example of the economic boom of the past thirty years. The products made here will, it’s hoped, reach European customers effortlessly in a few years’ time. But it’s not just China’s exporters who hope to benefit from this infrastructure project. Rural regions in the west of the country should also see a boost. There’s the province of Xinjiang for example, which has seen little of the economic growth of recent years. But China’s ambitions go beyond its national borders. The planned New Silk Road runs past rich oil fields as it goes through Kazakhstan. The extraction of oil is to be ramped up, thereby securing China’s growing need for energy. By extending the route all the way to the edge of the Urals, Beijing can get all the way to Russia. But it’s not certain whether the former big brother will welcome the expansion of China’s sphere of influence all the way to central Asia and Europe. In the form of a geopolitical road movie, this documentary looks at the far-reaching shifts in the Eurasian power balance. Sooner or later the Europeans will have to take a stance on China’s new ‘soft imperialism’.

Exciting, powerful and informative – DW Documentary is always close to current affairs and international events. Our eclectic mix of award-winning films and reports take you straight to the heart of the story. Dive into different cultures, journey across distant lands, and discover the inner workings of modern-day life. Subscribe and explore the world around you – every day, one DW Documentary at a time.

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DW netiquette policy: en/dws-netiquette-policy/a-5300954 -

"China lets its rich invest more offshore, as cash outflow fears ease

After a two-year wait, Chinese regulators have revived a programme allowing global asset managers including JPMorgan Chase to raise funds from Chinese onshore clients for investment in offshore hedge funds.

The easing of capital controls shows how Chinese regulators are increasingly relaxed about cross-border capital flows amid a stable Chinese economy and persistent dollar weakness.

JPMorgan Asset Management has received a new quota for the programme, and several other asset managers are expecting similar allotments, according to three people familiar with the situation. JPMorgan received a $50m quota in January, one of those people said.

BNP Paribas Asset Management is expecting approval for a quota from the State Administration of Foreign Exchange, another person said.

The outbound investment programme for so-called Qualified Domestic Limited Partners, or QDLPs, was launched in 2013 but informally halted in 2016 as China’s foreign exchange regulators grew concerned about capital flight and renminbi depreciation.

Chinese policymakers are preparing market opening measures in securities, insurance and fund management to appease US trade warriors. Though the QDLP relaxation predates the recent outbreak of US-China trade tension, the quotas will be welcomed by western fund managers eager to win greater access to the Chinese market after years of incremental opening.

The controls on capital flight remained tight throughout 2017 as many global asset managers such as Alliance, Aberdeen Standard Investments, BNP Paribas Asset Management and Och-Ziff waited for news on the restart of the once highly anticipated programme.

Source: FT.com"
Nicht neu aber immer wieder beeindruckend - die Zukunft außerhalb Deutschlands.

Autos aus dem Automaten: In China zeigt sich, was auf den Autohandel in Deutschland zukommen könnte

Chinakönig, quote: we"'re JETZT schuldenfrei"

Local governments have until August to swap debt for bonds

"Local governments in China have been issued the deadline of August by which to complete the shift of all borrowings into bonds, Caixin Global reports, as Beijing looks to wrap-up its debt-swap program and clampdown further on local government liabilities.

The Ministry of Finance initiated a three-year programme in 2015 where local governments were offered government bonds in exchange for their outstanding debt, which had been growing consistently, alongside risk to China’s financial system.

Local government liabilities came to RMB 16.47 trillion ($2.62 trillion) at the close of 2017, with about 90% consisting of government bonds, according to the ministry."

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