China is Number One, the best!

[besotted]

GIC, Temasek suffering huge billions of losses, but China fund doing so well


China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.

That would put the CIC's annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley. CIC has lost more than half of the $8 billion it invested in the two firms.

Officials from CIC declined to comment.

The source said CIC had $90 billion invested in highly liquid financial assets, including treasury bills and bank notes. These investments yielded a pretax income of $3 billion.

Meanwhile, CIC has also received considerable dividends from its stakes in domestic financial institutions such as China Construction Bank and Bank of China, the source said.

 

[besotted]

http://sg.finance.yahoo.com/intlindices?e=asia

whole world indexes down

but china is UP

 

[makapaaa]

 

[besotted]

http://www.asiaone.com/Travel/News/Story/A1Story20090302-125506.html

China No. 1 choice for travellers

by Rachel Chan

China travel reviews

THEY came, they saw, they decided to travel.

Last Friday, on the first day of the National Association of Travel Agents Singapore (Natas) fair at Singapore Expo, Madam Tan Geok Hoon was first in line.

The retiree, 61, who wanted to go to Genting in Malaysia, said: "It costs only $100 or so to go there for a few days as accommodation is free of charge."

By 5.30pm yesterday, over 54,000 visitors had thronged the fair, and up to $45 million worth of tour packages had been purchased.

None too shabby a performance, even if crowd figures were slightly short of the expected 60,000.

Natas chief executive officer Robert Khoo said: "Considering the recession and the rainy weather, the flow has been very good. Cost of tour packages and airfares have come down, so that explains the drop in revenue."

Last year's Natas fair in the first half of the year brought in $50 million.

Ms Jane Chang, spokesman for Chan Brothers Travel, said that trips to Shandong or Guizhou in China to admire the peony blossoms were popular.

"China is a top choice because people think it's value for money. It's cheaper to shop there than in, say, Japan," she said.

Others, like Ms Serene Pear, 22, were more willing to splurge.

"The falling euro is making it attractive for us to travel to places which we'd have dismissed as expensive before," the Nanyang Technological University undergraduate said.

[email protected]

 

[besotted]

China - US No. 1 foreign creditor

SHANGHAI (AFP) - China is now officially the US government's largest foreign creditor after overtaking Japan, in a development that signals Washington's increasing reliance on Beijing to save its economy.

China became the largest foreign holder of United States Treasuries, owning US$585 billion (S$892 billion) worth as of September, according to US Treasury Department figures.

But analysts warned yesterday that neither country should be celebrating the development, which underlines serious imbalances in the global economy.

'China's GDP per capita ranks around 100th in the world but it is actually subsidising the world's richest country,' said Mr Zhang Ming, an economist with the Chinese Academy of Social Sciences, a government think-tank in Beijing.

He argued that becoming the largest foreign holder of US Treasuries is only an illustration of how serious the imbalances are in China's overly export-driven economy, rather than an indicator of its strength.

China's ever-growing trade surplus, a major source of its massive foreign exchange reserves that is mostly made up of US dollar assets, including Treasuries, hit a monthly all-time high of US$35.2 billion last month.

Throughout the third quarter, China piled more than US$81.1 billion into Treasuries - the safest US assets it could find - while dumping bonds from government-affiliated agencies, such as Fannie Mae and Freddie Mac, said Mr Brad Setser, an economist at the Washington-based Council on Foreign Relations.

That contrasted with the second quarter, when China bought only US$13 billion of Treasuries while buying US$17 billion in agency bonds and US$20 billion of corporate bonds.

'The notion that sovereign investors are always and at all times a stabilising force in the market should be put to rest.

'China has clearly kept (its exchange rate) stable - and been a big source of demand for Treasuries. But it has been a seller of other assets in a time of stress,' Mr Setser said.

China's central bank is considering hiking gold reserves nearly sevenfold to spread risks in its huge foreign exchange holdings, a state media reported yesterday.

The Guangzhou Daily, citing unidentified industry insiders in Hong Kong, reported that Beijing is mulling over a move to increase its reserves to 4,000 tonnes from the current 600 tonnes.

However, China is not likely to suddenly dump US government bonds because it would only be hurting itself now, said Mr Wang Qing, a Hong Kong-based economist for Morgan Stanley.

'If you're the largest holder of one particular asset, it's very hard for you to change,' he said.

China, with the world's biggest reserves at US$1.9 trillion, sees Treasuries as safe and relatively liquid, Mr Wang said.

'The US needs help and I think China and Japan want to help. They don't see an alternative to the dollar right now,' said Mr Andy Xie, an independent Shanghai-based economist.

However, the US Treasury bond market is not risk-free, he said.

'This is another bubble and it will burst,' he said. 'It's just a matter of time. No bubble lasts forever.'

Japan, previously the largest holder of US Treasuries, sold off US$20 billion worth over the third quarter, and as of September held US$573.2 billion worth. That is down from a peak of US$699 billion in August 2004.

 

[besotted]

Home > Breaking News > Asia > Story
March 2, 2009

China to unveil 2nd stimulus
By Peh Shing Huei, China Bureau Chief

BEIJING - BILLIONS of people around the world will be watching to see if China pours trillions more yuan into the economy this week as the country's biggest political meetings kick off on Tuesday.
Experts are predicting a second major stimulus package from the Chinese government, adding to the 4 trillion yuan (S$907.6 billion) package that was introduced last November.

The new package could double the earlier one, or by another 3-4 trillion yuan, said Nomura's chief China economist Sun Mingchun at a forum here two weeks ago.

But while other analysts are less bullish about such a huge second adrenalin shot into the world's third largest economy, there is no doubt that the global financial crisis is top of the agenda as delegates and legislators across China gather in the capital.

Citing officials who will attend the meetings over the next fortnight, the official Xinhua news agency said discussions are likely to focus on 'spurring domestic demand to maintain economic growth'.

Read the full story in Tuesday's edition of The Straits Times.

 

[besotted]

Exclusive, predictive analysis on China Investment themes

Launching in March 2009, China Confidential is a new, premium subscription service from the Financial Times: a fortnightly digital newsletter and accompanying website offering premium, exclusive analysis and predictions on investment themes.

Using a dedicated team of Financial Times specialists in the UK and Beijing and a network of contributing researchers across China, it taps Chinese sources from the grassroots to the political elite to forecast key trends and issues. China Confidential conducts its own consumer polls and industry surveys to supply all-important primary research.

By filtering the work of the best Chinese analysts and academics, it keeps subscribers current on key debates as they unfold inside mainland China. It provides China specific funds data and trends as well as key economic indicators.

 

[singveld]

http://sg.finance.yahoo.com/intlindices?e=asia

whole world indexes down

but china is UP

there is only one explanation
they doctor the figure

 

[Leegimeremover]

there is only one explanation
they doctor the figure

So, what is your point? Do you mean other countries don't do it? The thing is they can still do it and no one is calling their bluff yet. For US, the party of pyramid games and MLM lies are over. EU is next on the list. Japan is there too

 

[singveld]

you trust communist party figures completely????

 

[Einfield]

you trust communist party figures completely????

Why Not? If you can trust SG GOV figures.

 

[besotted]

Beijing will beat recession ahead of others: Rogers
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(SINGAPORE/HONG KONG) China's stimulus spending will help its economy overcome the global recession sooner than the US and other countries, investor Jim Rogers said.


China's reserves allow the government to spend on projects that will make the nation more efficient and competitive as the global economy recovers, said Mr Rogers, the author of A Bull in China: Investing Profitably in the World's Greatest Market. Signs that China is taking steps to liberalise its currency will also benefit the country, he added.

'I certainly expect China to come out of it sooner than the US,' Mr Rogers, chairman of Singapore-based Rogers Holdings, said in a Bloomberg TV interview in the city-state. 'They seem to be spending the money on the right things. China is doing a far better job than the others.'

Premier Wen Jiabao reiterated last week the government's pledge to 'significantly increase' investment in 2009 to help counter the slowest growth in seven years. He didn't specify new stimulus spending in addition to a four trillion yuan (S$906 billion) plan announced in November.

The People's Bank of China cut interest rates five times in the final four months of last year, including the biggest single reduction since the 1997-98 Asian financial crisis. The government is targeting growth of 8 per cent in 2009, after the economy slowed to a 6.8 per cent gain in the fourth quarter.





China will allow trade settlement in yuan with Hong Kong soon, central bank governor Zhou Xiaochuan said at a briefing in Beijing on March 6. President Li Lihui of Bank of China Ltd, the nation's largest foreign-exchange lender, said on Sunday in Beijing that the bank is already conducting trial international yuan settlements in Shanghai and Hong Kong.

'I'm glad to see they're taking yet another step towards convertibility,' said Mr Rogers, who in April 2006 accurately predicted oil would reach US$100 a barrel and gold US$1,000 an ounce. He said he owns Japanese yen as he expects more of the money to 'come home'. Mr Rogers added he plans to sell his remaining US dollar holdings later this year because the world's largest economy isn't a 'safe haven' for investors.

'I plan later this year to get out of the rest of my US dollars,' he said. 'It's had an artificial rally too but it's a terribly flawed currency. The US is printing money as fast as it can and that's always throughout history led to currency problems down the road.'

Mr Rogers on June 30 advised investors to avoid the dollar 'at all costs' as the US economy slows, and favoured commodities. The dollar has risen against nine of the Group of 10 currencies since then, according to data tracked by Bloomberg.

Mr Rogers added he remains bullish on agriculture and that commodities are 'the only area of the world economy I know which is benefiting'. -- Bloomberg

 

[HakkaThaileen]

GIC, Temasek suffering huge billions of losses, but China fund doing so well.

China Investment Corp (CIC), the nation's $200 billion sovereign wealth fund, made a profit of $10 billion in 2008, Shanghai Securities News quoted an unnamed source as saying.

That would put the CIC's annual return at 5 percent, notwithstanding its controversial investments in US private equity firm Blackstone and investment bank Morgan Stanley.......

Are the management staff of CIC having million dollars salary in order to reap such large profit..?

 

[TeeKee]

why is the old man crying?

what happen on that day?

 

[2lanu]

Any of these brillance minds got million dollars paycheck?

 

[cowbehcowbu]

Hi Bros.......please see for yourself the quality of their minister..and goverments speakers in Beijing...their wits, grasp of issues..earnesty and humilities...put some of our million dollars minister to shame...
now ..you will understand why CHINA is getting up..while the rest of the world is still sinking.....
Their top leaders do not tolerate incompetence or accept excuse for failures...just move out the poor chap and replace with better and more capable chaps...
President HU is one of the best world leaders...even sack his own man during Sars without a flip of the eyes...
well shall Singapore learn....??