China Business News

S.J.Grand offers quality research, case studies and essential updates on the latest China tax and business issues through our news feed, periodic newsletters and our online resource library.

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China poised to launch junk bond market

--China may launch a junk-bond market as early as this month, could expand access to credit for smaller private firms--

The China Securities Regulatory Commission (CSRC) has met with executives at the country's key brokerage houses and told them it wants a market for high-yield bonds, the China Business News, a Shanghai-based daily, cited attendees at the meeting as saying.

WuXi and ShangPharma lead China's drug M&A targets

 --Companies looking to profit from world’s fastest growing drug market looking to China for takeover targets--

Chinese Government Vows Support for Small Companies with $2.4 Billion Fund

 Amid China’s slowing economic growth, the government has pledged to support small and micro-sized businesses with a 15 billion-yuan ($2.4 billion) fund. China’s economy grew 8.9 % in the last quarter of 2011, marking the slowest growth in 10 quarters, mainly due to a slowdown in exports and curbs on the property market. Expansion may cool to about 7.5% this quarter and 7.6% in the three months through June, until policies to spur growth kick in, according to Nomura Holdings Inc. 

Chinese finance system faces build up of risk

--Rising popularity of wealth management products squeezing Bank profitability and leading to a build-up of risk in the financial system---

China's December PMI stronger than expected

The purchasing managers’ index (PMI) in Chinarose to 50.5 from 50.3 in December, according to China’s statistics bureau and logistics federation. The stronger than expected rise in China’s manufacturing on increased new orders suggests the world’s second-biggest economy is standing up to both Europe’s debt crisis at the global level and a property slowdown at the domestic level.

Chinese internet companies jump on WSJ report of Facebook IPO

The Wall Street Journal has reported that Facebook may file for an initial public offering next week, led to a surge in Chinese internet companies. Renren Inc, a social media company in China, saw its shares jump 26% to $5.25 at Friday’s close in NY after the WSJ report was released.This surge is the highest in more than eight months. Renren’s stock increased an additional 20% in Monday’s trading. Similarly, Sina Corp, which operates a service similar to Twitter, rose 12% to $69.96 last Friday. 

China weighing plan to relax capital rules for banks

--Banking regulators eyeing change to boost loans to cash-strapped SMEs--

China's holdings in US treasury securities fell in November

China’s treasury securities fell by 0.1%, or $1.5 billion, in November to $1.13 trillion, according to Treasury data and the bill holdings fell 12% to $2.3 billion as yields on the debt approached lows of the year, and total foreign demand accelerated.

VAT treatment for sale of self-used fixed assets

--Simplified method to be used to calculate VAT payment when selling self-used fixed assets under certain circumstances--

Foreign Direct Investment in China slows

--Lagging western economies lead to decelerating FDI--

China’s Ministry of Commerce said on Dec. 30 that the outlook for foreign investment this year is “not optimistic.” Foreign direct investment in China fell for the second straight month in December 2011 as the ongoing crisis in developed western economies has decreased companies’ appetite for further investments.

SJ Grand Shanghai relocates within same complex

 

S.J. Grand Shanghai has moved to new, larger premises on the same floor as our former office in Haitong Securities Towers. The new office can be found at:

Suite 1807, Haitong Securities Tower, 689 Guangdong Road, Shanghai 200001

All existing phone and emails remain current.

China to encourage HK listings

 --Small and medium size firms to be allowed to list--

 The China Securities Regulatory Commission plans to relax controls on Hong Kong and overseas listing for Chinese companies by revising rules this year, simplifying the approval procedures and lowering thresholds for small to medium sized and privately owned Chinese companies to list. This move will open the door wider for small and medium enterprises and encourage more mainland companies to seek yuan-denominated listings in Hong Kong.

London to become offshore RMB trading center

--Plans set to increase RMB convertibility--

London is planning to team up with Hong Kong to become a major offshore trading center for RMB. The HK Monetary Authority (HKMA) and the UK Treasury have agreed to launch a private-sector forum to strengthen links between HK and London in such areas as clearing and settlement, market liquidity and  development of new RMB-denominated products, the HKMA announced in a news release. 

Beijing kicks off VAT reform implementation under Pilot Project

 Beginning in January 2012, Shanghai kicked off a pilot project in transport and certain modern service sectors. Following in Shanghai's  footsteps, Beijing has recently taken a step to initiate VAT reform by submitting its application to the MOF and SAT to start a similar pilot project in the transportation industry and certain modern service industries.

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