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June 2, 2012

Anyone who enjoys this blog, and finds it useful, might want to consider following me on Twitter at @prchovanec.  Every day, I come across data, info, and articles that I may not have time to incorporate into a full-blown blog post, but I suspect many readers would find worthwhile.  I try to be selective, focusing on items are high-impact (or highly amusing) but could easily escape a busy reader’s notice.  Here’s a sample of some of my latest “tweets” (the links also make good reading, for those who missed them):

  • (Jun 2) FT offers further insight into China’s curious LME copper trades
  • (Jun 2) LA Times: alleged CIA mole was aide to close ally of Hu and Wen, who personally handled Wang Lijin incident
  • (Jun 2) CNY is at 6.37 per USD, down -1.5% from its high on May 2, but still up 1.7% from a year earlier
  • (Jun 2) China arrests high-level State Security Ministry aide on suspicion of spying for the CIA
  • (Jun 1) Macau casino revenue growth falls to 7%, lowest since July 2009
  • (Jun 1) Nomura says China’s FX reserves will soon peak I say the sooner the better
  • (Jun 1) SH Sec News: Jiangsu prov says tax revenue from top 40 local solar makers down 93.9% yoy YTD thru April
  • (Jun 1) Caixin on stimulus: “we can’t drink poison to quench our thirst” YES
  • (Jun 1) Zhang Ziyi denies sleeping with Bo Xilai for money Is there NOWHERE the Bo saga won’t go?
  • (May 31) Yongda, CNMC, and now Graff pulled – the Hong Kong IPO window is officially closed
  • (May 31) More on AgBank’s Macau gambling scandal – predictably, it involves lending ties to a Beijing property developer
  • (May 31) Stagflation anyone? China raises railway freight rates to relieve higher fuel and labor costs
  • (May 31) China News reports 20 major cities’ land sale revenues fell -21.3% YTD in May, to a 3-year low
  • (May 30) offshore appeal of RMB is more about speculation than “internationalization”, see and
  • (May 30) Caixin: China gives struggling Rail Ministry green light to take on even more debt, to revive construction
  • (May 30) Caixin: Chinese looking to buy, partner with US coal mines
  • (May 30) China may begin importing corn from Argentina, to reduce reliance on US
  • (May 30) Sign of bailout to come? Xi’an buys 10k units from struggling developers to turn into below-market rental housing (Xinhua)
  • (May 30) China Treasury deposit bidding rate drops to 4.22% (from 5.13% in early May) mainly reflects slackening loan demand
  • (May 30) Lombard Street’s Dumas in FT says China needs adjustment not stimulus
  • (May 30) Rubber inventory piles up at Chinese docks as tire demand slows
  • (May 30) China auto sales down 1.3% YTD, worst performance since 1998; dealer inventories rising
  • (May 28) Caixin: as rail investment slows, China’s railroad construction cos jump into int’l mining
  • (May 28) Gome 1Q profits plunge 88%, sales down 29% as govt subsidies expire
  • (May 28) Beijing RE developers luring buyers by “deferring” down-payments for months; “Who knows what will happen then?”
  • (May 28) China Times reports turnover of copper stockpiles in Shanghai warehouses has slowed from 1-2 to 6+ months
  • (May 28) Deputy head of NDRC investment division tells China media massive govt stimulus unlikely, unsustainable (via BoA-ML)
  • (May 27) Economist chart a bit misleading trade gap itself isn’t growing, but investment boom enabled by accum export surpluses
  • (May 27) China steel industry suffered RMB 1b (US$ 158m) loss in 1Q for first time in memory
  • (May 27) State sector profits down 9.9%, foreign co profits down 13.2%, private entpr profits UP 20.9%. REALLY?
  • (May 27) Official stats: industrial profits in China down 2.2% in April y-o-y, down 1.6% YTD
  • (May 27) The Australian: view that wise mandarins can pull levers to boost China economy is “dangerously delusional”
  • (May 27) interesting Caixin article on cooling credit demand in China
  • (May 26) Pettis and I both tell Marketplace: China should resist the urge to splurge on stimulus
  • (May 25) 21st Ctry Bus Herald quotes bank manager: lately, “almost all” loans to steel traders become NPLs when they mature
  • (May 24) China’s copper stockpiles are now double their four year average; iron ore stocks 1/3 higher
  • (May 24) Amazon, are you listening? E-commerce Taobao offers “special delivery” by pretty girls
  • (May 24) S&P says China property developers having “difficulty” refinancing debt, likely to “aggressively” cut prices further
  • (May 24) China Daily says majority of steel mills in N. China “have halted production,” steel prices are “really weak”
  • (May 24) China shipping giant COSCO may seek RMB 10b govt bailout due to continuing record losses
  • (May 24) Caixin reports 8 of China’s top 10 shipyards received no new orders this year “a hurricane is approaching”
  • (May 24) BOA-ML reports China copper processor’s capacity utilization down 30-50%, order volume down 20%
  • (May 24) Ordos developers tell 21st Century Business Herald they are paying 30% interest, need 50% profit margin to stay alive
  • (May 24) Chinese media reports two Fuzhou property developers were near bankruptcy until court “persuaded” banks to defer loan payments
  • (May 24) from Xinhua, via BOA-ML, 60% of China A Share companies predict profit decline in 1H
  • (May 24) Reuters on China’s aluminum slowdown Could someone remind me what in China is still growing?
  • (May 24) China aluminum conf yesterday: huge overcapacity, firms losing money, but outlook is great cause govt will spend on social housing. hmm.
2 Comments leave one →
  1. June 3, 2012 2:47 pm

    thank you proffesor i have you all ready in my tweet.. i like your article because express me…

  2. June 4, 2012 8:39 pm

    i am allways following you……and i will ..thank you

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