JPMorgan Asset Management and Invesco Asset Management say China’s cooling property market is an opportunity to boost dollar bond holdings as the government’s targeted stimulus benefits the largest developers.
China’s Finance Ministry and securities regulator last year submitted recommendations to the State Council on how to work with the U.S. on cross-border auditing supervision, the Securities Times reported today.
China’s second-quarter economic growth may be 10.6 percent, the Securities Times reported, citing Pei Changhong, director of the institute of finance and trade economics at the China Academy of Social Sciences.
People’s Bank of China Governor Zhou Xiaochuan said the central bank drained cash from the financial system after last month’s Lunar New Year holiday to remove funds injected before the festival, the Securities Times reported.
The southern Chinese city of Shenzhen plans to invest 40 billion yuan ($5.88 billion) in its Qianhai area to make it the “Manhattan” of the Pearl River Delta, the Securities Times reported today, citing the local government.
China’s property loans should be watched because the government has implemented intensive policies to control the market after rapid gains in home prices, the Securities Times reported, citing an unidentified official with the China Banking Regulatory Commission.