Wall Street hiring in Asia is coming under increasing scrutiny in the wake of a U.S. criminal investigation into whether JPMorgan Chase & Co. employed children of China’s elite in violation of anti-bribery laws.
China’s factory output and investment growth probably weakened in December, adding to signs the world’s second-largest economy is losing momentum as analysts forecast 2014 expansion at the lowest in 24 years.
China’s State Council may “dynamically fine-tune” the nation’s monetary and real estate policies, the Shanghai Securities News reported today, citing Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission.
Li Wei, a Shanghai-based economist with Standard Chartered Plc comments on China’s central bank announcement today that it would cut banks’ reserve requirement ratio by 50 basis points. Li commented by e-mail.
Standard Chartered Plc forecasts the pace of yuan appreciation will slow to 3 percent to 4 percent in 2012 from around 5.5 percent this year, according to a research note issued by Hong Kong-based economist Stephen Green and Shanghai-based Li Wei today.
Economists are forecasting that the People’s Bank of China is more likely to raise interest rates than cut them in the coming year, even as they slash growth projections for the world’s second-largest economy.