ATI Newswire - Subscriber Only

Two NPC members detained after Liang Hui concludes

March 17, 2015

BEIJING - Less than one hour after Liang Hui China’s "lianghui" (joint sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference) closed with a press conference held by Chinese Premier Li Keqiang, a message appeared on the Central Commission for Discipline Inspection (CCDI) website saying that Qiu He, deputy Communist Party head of Yunnan Province and member of the National People’s Congress (NPC), had become the subject of an inquiry into “serious discipline and law violations”.

Sluggish activity indicators affirm China’s easing cycle not over yet

March 12, 2015

HONG KONG - China’s National Bureau of Statistics (NBS) economic activity indicators for January-February, including industrial production, retail sales and urban fixed asset investment (YTD) were below both market expectations and their levels of last year-end, indicating that growth deceleration continues despite a number of recently enacted monetary easing measures, such as January’s cut in the Required Reserve Ratio (RRR), February’s interest rate cut and other unconventional measures, reports BBVA Bank.

Twitter opens Hong Kong office to court Chinese firms

March 12, 2015

~~BEIJING - Despite being blocked in mainland China since 2009, Twitter is launching a Hong Kong office in an attempt to target Chinese advertisers who plan to expand overseas. Head of sales for emerging markets Peter Greenberger says: “This is the first market we’ve gone into where we’re targeting outside of the country.” The main targets will be “big advertisers looking to reach overseas.”

Easy credit, low interest rates ending in Asia, says S&P

March 13, 2015

SINGAPORE - The days of easy credit, with low interest rates and ready availability of funding, appear to be coming to an end for banks in Southeast Asia, says Standard & Poor’s. "High levels of household indebtedness in Singapore, Thailand, and Malaysia might leave these banking systems vulnerable to rising interest rates and asset quality pressure," says S&P credit analyst Ivan Tan. "However, we believe banks have sufficient financial buffers to withstand these challenges."

China’s 1-trillion RMB swap plan targets local government debt

March 10, 2015

BEIJING - In order to address the issue of mounting local government interest repayment pressure on their debts, China’s Central Government has ordered a swap plan totalling RMB 1 trillion (US$160 billion) of low-yield municipal notes to replace legacy liabilities. Speculation in Chinese domestic media regarding the plan had expected the swap to be for RMB 3 trillion -  total liabilities for local government are estimated by brokerages to exceed US$3 trillion.

China’s Foreign minister pledges support for Russia

March 9, 2015

BEIJING - China’s Foreign Minister Wang Yi’s press conference in Beijing at China’s "lianghui" (joint sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC) revolved around three major points: 1) China’s pledge to support Russia in the face of Western sanctions; 2) Criticisms of Japan over “its recalcitrance over World War II history”; and 3) Making clear that China views the U.S. as an equal, not a superior.

Pages