China

Carpe dim sum: Hong Kong’s sukuk opportunity as gateway to China

Hong Kong is a latecomer to the sukuk markets and if the government issues its announced $500 million to $1 billion sukuk this year, it will also have been a long time coming since Hong Kong first announced its ambitions for its participation in sukuk markets. Despite the delays, it will be a significant development and could provide a market for many issuers who have not participated in sukuk markets.

The Hong Kong government has been forthcoming about its strengths and weaknesses in building a sukuk market as a result of its cooperation with Malaysia to learn the ‘how-to’s of the sukuk markets. The Deputy Chief Executive of the Hong Kong Monetary Authority Peter Pang explained that Hong Kong has focused its collaboration with Malaysia to “deepen co-operation with Malaysia in the development of Islamic finance”. The Deputy Governor of Bank Negara Malaysia Dato’ Muhammad bin Ibrahim added that Malaysia would offer its “expertise in structuring, managing and distribution of sukuk [and] advice on legal and sharia matters”. 

China

Gateway to China (more…)

China’s car joint ventures – graphic of the day

Chinese drivers are increasing in number, and foreign auto companies have cruised away with most of the sales. But access to the world’s largest auto market has come with a big financial concession: joint ventures with local partners. Today’s graphic shows the biggest foreign carmakers and their local Chinese partners. Read more about why these joint ventures aren’t built to last.

joint ventures

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Journalist spotlight: Benjamin Lim on Reuters scoop

On Sunday, Reuters was first with the news that Chinese authorities have seized assets worth at least 90 billion yuan ($14.5 billion) from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the center of China’s biggest corruption scandal in more than six decades. The sheer size of the asset seizures and the scale of the investigations into the people around Zhou – both unreported until the Reuters exclusive – make the corruption probe unprecedented in modern China.

In a Reuters Best: Journalist Spotlight Q&A, Benjamin Lim reveals the story behind how he and Ben Blanchard got the scoop.

Q. How did you get this exclusive? (more…)

Chinese debt stress – graphic of the day

Chinese companies owe just over $1 trillion in domestic bonds, of which 15.8% is coming due this year. A Reuters analysis of more than 2,600 Chinese companies found credit metrics worsening across a range of industries. Today’s graphic show short-term debt to cash for each mid and large cap company listed on the Chinese stock exchange.

china debt

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China swap lines – graphic of the day

China has swap lines with many central banks in an effort to achieve greater overseas use of its currency. Today’s graphic shows the yuan swap lines with national central banks. The thickness of the lines is proportional to the amount of each swap line.

swap lines

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Forget GPS – find your way with China’s rising star

China’s got big plans for Beidou, its homegrown version of the GPS navigation system. Jane Lanhee Lee reports on the rise of a technology with both commercial potential and military applications.

China corporate debt – graphic of the day

China’s corporate debt has reached record levels and is likely to accelerate domestic restructuring more defaults, as credit repayment problems rise. Today’s graphic shows the Chinese companies with the highest debt/equity levels and the breakdown of debt by industry.

china corporate debt

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China’s lifestyle of the rich – graphic of the day

A report by Hurun Chinese Luxury Consumer Survey gives a peek at the lifestyle of high net worth individuals in China. Overall spending by wealthy Chinese fell by 15% in 2013, the third consecutive year of decline. Today’s graphic is a snapshot of the tendencies of rich individuals in China.

China

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Hong Kong IPOs – graphic of the day

After three years of sluggish deal flows, a slew of mega IPOs is set to spike up Hong Kong offerings in 2014. With the value of IPOs in Hong Kong seen doubling to over $32 billion this year as major economies pick up steam, Greater China could account for more than half of all 2014 investment banking fees for the Asia-Pacific region, excluding Japan. Today’s graphic compares the IPO volumes of New York, Nasdaq, London and Hong Kong.

IPOs

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Cigarette consumption – graphic of the day

Cigarette consumption increased over a hundred fold over the last century. Enough cigarettes were consumed in 2009 for each person in the world to have smoked an average of 865 cigarettes or 43 packs. Today’s graphic shows a global cigarette consumption trend and the top five consuming countries in Asia Pacific.

cigarettes

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