June 30, 2008
How Low Will Chinese Stocks Go? Renewable Energy Push and a News Roundup
visit www.sinomania.com for full transcript
Sinomania! Show episode 59 for June 30, 2008, looks at the Shanghai Stock Market crash, differing views on Chinese stocks, Beijing's new push for renewable energy--wind, solar, and more, plus new items of interest.
June 27, 2008
Curtains for Shanghai?
China Drill Grill
June 19, 2008
China Spoke, Oil Markets Listened
June 17, 2008
Paulson: China and USA to Maintain "Global Economic System"
June 10, 2008
Sichuan Quake Impacts Oil Supply
Heroic efforts to drain the dangerous Tangjiashan 'quake lake' are jeopardizing the sole oil pipeline to Sichuan Province and giant Chongqing municipality. State-owned conglomerate China National Petroleum Corp. (CNPC) suspended operation of the Lanzhou - Chengdu - Chongqing pipeline for an unknown length of time.
A CNPC manager in Sichuan told Xinhua it had 20 days of reserves to offset the disruption. The pipeline has capacity t0 transport 6 million tons of oil annually and supplies almost three fourths of the oil needed for the region and downstream to Yunnan and Guizhou Provinces.
There is a potential impact for short-term shortages and price inflation in the area.
China Shares Nosedive
Chinese stock prices collapsed June 10 with the worst showing since the February 2007 pop of the bull run. Chinese financials, banks specifically, were hard hit and the spin on the crash is that markets are nervous about inflation and Beijing's action to raise, for the 5th time in a year, the reserve ratio requirement for banks. But the reserve hike was expected and only the timing could be a surprise. So was the recent improvement just a bear market rally?
Some numbers: benchmark Shanghai Composite closed June 10 just above 3,000 at 3,072.33 down 7.73% back to the level of last spring - CSI 300 Index sank over 8% - and B shares are down almost 7.5% in Shanghai losing almost all of their recent gain - ShenZhen Bs mirror Shanghai's bad performance.
June 04, 2008
Iran China Ties Build Despite Pressure
At a press conference today Iranian ambassador to China Javad Mansouri said the two countries are increasing ties particularly in energy development.
China is buying more oil from Iran and imports of petrochemicals have grown from under $100 million (US dollars) a decade ago to an expected $1 billion this year. China accounts for around ten and a half percent of Iran's petrochemicals exports.
Last month Shanghai hosted an "Investment Opportunities in Iran" conference. Trade with the "Dragon's Head region (Shanghai, Jiangsu, Anhui, & Zhejiang) was in the billion$ in 2007.
Chinese oil majors are developing big oil and gas fields in China and Chinese auto manufacturers will soon supply Iran with passenger cars. Iran is one of many emerging markets for autos with sales over 1 million/year already. Chery will be rolling out the popular QQ sometime this year. And Chang'An Auto, partner to Ford Motors in China, just started a joint venture with the Iranian PIDF enterprise to assemble Chang'An's 1.3 liter mini, Benben, with production of 250,000 a year expected around 2012.
Meanwhile, geopolitical pressures of the EU and USA will leave this huge emerging market to China unless wiser heads soon prevail.
June 03, 2008
China Telecom Mergers - Shanghai Talks Foreign Listings - FOREX - Taiwan - Sichuan Quake Update
Sinomania Episode 58 for June 2, 2008, looks at mergers and consolidation in Chinese telecom sector, major changes in Shanghai could see foreign firms listing share offers in China, business news, and an update on the economic impact of the Sichuan earthquake disaster.
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