equipment
chinese machinary      chinese equipment      
Main page | News | Guestbook | Contact us
Русская версия

Products:
Mini-factories
Transport
Equipment
Instruments
Food products
Building materials
Leisure and garden inventory
Medicine and public health
Gas and gas equipment
Oil equipment
Chinese Silk
Underwear, T-shirts
Fashion
Various production line by Customers order
Silver coins
Safety
ABOUT US

Contact us
No. 161, Huanghe Road, Nangang District, Harbin, China
PC: 150090
Tel/fax: 86-451-82432987
Email: mega@asia-business.biz

News from China
Weak inflation may see further stimulus from ECB
1st September 2016

 CONSUMER price inflation in the eurozone was stuck at 0.2 percent in August, a low rate that could encourage the European Central Bank to offer more stimulus sooner rather than later.

The figure reported yesterday by statistics agency Eurostat was the same as in July and below economists’ expectations for an uptick to 0.3 percent. It also remains far short of the European Central Bank’s target of 2 percent.

The main culprit was a 5.7 percent annual drop in energy prices. But inflation for other goods and services was also relatively weak. Not including energy and other volatile items like food, alcohol and tobacco, overall consumer price inflation was 0.8 percent, a rate the ECB see too low for a healthy economy.

The central bank has launched a series of stimulus measures to help the economy of the 19-nation eurozone and bring inflation to a healthier level. It has cut its key rate to zero and is pumping 80 billion euros (US$90 billion) of new money into the economy every month by buying bonds from banks and companies. That aims to lower borrowing rates and encourage business activity.

Analysts are divided over whether the ECB will launch more stimulus at its next policy meeting September 8. Some say it’s only a matter of time, particularly if inflation doesn’t pick up this year.

In such an event, the central bank could extend the duration of its bond-buying program, which is currently set to end in March 2017.

Economists note that the drop in oil prices should get phased out of the inflation data in coming months.

Source: Shanghai Daily, September 1, 2016
China’s ‘Big Four’ lenders record rising bad loans
31st August 2016

 ALL of China’s “Big Four” state-owned banks reported mounting bad loans in the first half of the year, statements showed, as the world’s second-largest economy faces souring debt amid slowing growth.

The Industrial and Commercial Bank of China, the world’s biggest lender by assets, said its non-performing loan ratio rose to 1.55 percent at the end of June, up from 1.5 percent at the end of last year, said a statement to the Hong Kong stock exchange filed yesterday.

Still its net profit for the first six months edged up 0.8 percent annually to 150.66 billion yuan (US$22.6 billion), it said.

China’s three other giant state-owned banks have reported similar results in recent days, with all of their bad loan ratios creeping upwards as Beijing seeks to boost the world’s second-largest economy with an infusion of cheap credit.

Analysts have warned that a debt-fueled rebound might be short-lived and ballooning borrowings risk sparking a financial crisis as bad loans and bond defaults increase.

Bank of China’s earnings statement yesterday showed its NPL ratio rising to 1.47 at the end of June, up from 1.43 in December.

Last week the country’s number two lender, the China Construction Bank, said its NPL ratio had risen 0.05 percentage point to 1.63 percent, while the Agricultural Bank of China reported a figure of 2.4 percent, slightly higher than last year.

China’s total debt hit 168.48 trillion yuan at the end of last year, equivalent to 249 percent of national GDP, top government think tank the China Academy of Social Sciences has estimated.

Authorities have unveiled policies intended to tackle the problem of souring loans, including debt-for-equity swaps. But some analysts fear this would simply extend life support to debt-saddled “zombie” companies that are weighing down the economy.

Earlier this summer an official with China’s banking regulator said Chinese banks had written off over US$300 billion of bad loans in the past three years.

Source: Shanghai Daily, August 31, 2016
China’s ‘Big Four’ lenders record rising bad loans
31st August 2016

 ALL of China’s “Big Four” state-owned banks reported mounting bad loans in the first half of the year, statements showed, as the world’s second-largest economy faces souring debt amid slowing growth.

The Industrial and Commercial Bank of China, the world’s biggest lender by assets, said its non-performing loan ratio rose to 1.55 percent at the end of June, up from 1.5 percent at the end of last year, said a statement to the Hong Kong stock exchange filed yesterday.

Still its net profit for the first six months edged up 0.8 percent annually to 150.66 billion yuan (US$22.6 billion), it said.

China’s three other giant state-owned banks have reported similar results in recent days, with all of their bad loan ratios creeping upwards as Beijing seeks to boost the world’s second-largest economy with an infusion of cheap credit.

Analysts have warned that a debt-fueled rebound might be short-lived and ballooning borrowings risk sparking a financial crisis as bad loans and bond defaults increase.

Bank of China’s earnings statement yesterday showed its NPL ratio rising to 1.47 at the end of June, up from 1.43 in December.

Last week the country’s number two lender, the China Construction Bank, said its NPL ratio had risen 0.05 percentage point to 1.63 percent, while the Agricultural Bank of China reported a figure of 2.4 percent, slightly higher than last year.

China’s total debt hit 168.48 trillion yuan at the end of last year, equivalent to 249 percent of national GDP, top government think tank the China Academy of Social Sciences has estimated.

Authorities have unveiled policies intended to tackle the problem of souring loans, including debt-for-equity swaps. But some analysts fear this would simply extend life support to debt-saddled “zombie” companies that are weighing down the economy.

Earlier this summer an official with China’s banking regulator said Chinese banks had written off over US$300 billion of bad loans in the past three years.

Source: Shanghai Daily, August 31, 2016
German export growth view cut as Brexit impact looms
30th August 2016

 GERMANY’S BGA trade association slashed its 2016 forecast for export growth yesterday, predicting sales abroad by Europe’s biggest economy would later stagnate as the delayed impact of Brexit hit home.

Global demand for German goods has slowed significantly, with Britain’s decision to leave the European Union among several factors increasing uncertainties and complicating investment decisions, BGA chief Anton Boerner said.

“The repercussions (of Brexit) will impact us massively in the near future,” he said.

That effect has yet to be felt in the export sector, which the association forecast in April would grow by 4.5 percent this year. “I (now) think growth of only between 1.8 and 2.0 percent is feasible this year,” Boerner said.

Exports, traditionally the main driver of Germany’s economy, rose by 6.5 percent as recently as 2015, but Boerner said the outlook beyond 2016 was bleak. “Exports are set to stagnate, possibly as early as 2017 if viewed pessimistically,” Boerner said. “We’re hitting the ceiling.”

Germany releases trade figures next week for July, which are likely to show the first clear evidence of fallout from Britain’s June referendum vote.

German exports to Britain, its third most important market, stagnated year on year in the first six months at around 44.8 billion euros (US$50.1 billion).

Further afield, Germany’s trade prospects are also clouded by uncertainty about the US presidential election, the rise of nationalist movements in Europe, and other crises including the failed July 15 coup in Turkey and the civil war in Syria, Boerner said.

Exports to the United States and France, Germany’s two biggest markets, declined 4 percent to 53.4 billion euros and 2 percent to 52.1 billion euros respectively in the first half.

Demand from emerging markets was subdued, with exports to China only inching up 1 percent and Brazil falling by almost a fifth.

Source: Shanghai Daily, August 30, 2016

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111