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China nieuws berichten

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Chinese held US federal debt has reached a record $1.3 trillion. In May 2013 China bought $25.2 billion in US Treasury notes and bonds, according to Xinhua News Agency.

“US bonds remain one of the most attractive financial instruments in terms of safety. Recovery of the US economy strengthens the dollar, which is also a positive factor,” Chinese experts are quoted by the Chinese News Agency.

China’s economy has been developing rapidly in recent years, with its strong export business which resulted in large trade surpluses.

In September 2008 China became the biggest foreign creditor of the United States, surpassing Japan.

Purchase of American dollars and Treasury bonds then allowed Beijing to avoid the appreciation of the Yuan and to support Chinese exporters.

"In fact, China has been a large and stable source of demand for US Treasuries, which has contributed to its low and stable yields in the past years," Guo Feng, a senior economist with Washington-based Institute of International Finance, told China’s People’s Daily.

"Given the recovery in the US and sluggish economic growth in Europe, I expect China to continue to buy US Treasuries in the coming months," he also added.

The Federal Reserve is the largest holder of Treasury debt, holding over $1,870 trillion at the end of May 2013.

China's foreign reserves hit a record $3,500 trillion at the end of June, mostly in dollars. This year’s economy slowdown in China has slightly tempered the pace of dollar reserve accumulation.
s.lin
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Chinese premier snoeit aan groeidoelstelling
23/7 10:28
De Chinese premier Li Keqiang heeft dinsdag in een speech gezegd dat de economische groei niet onder de zeven procent mag zakken in 2013, melden staatsgereguleerde Chinese media voorafgaand aan de zomervergadering van Chinese leiders tijdens de zogenoemde Beidaihe top.

De uitspraken van premier Li zijn wederom een teken dat Beijing het minder nauw neemt met de groeidoelstelling van 7,5 procent voor 2013. Minister van Financiën Lou Jiwei zei onlangs genoegen te kunnen nemen met een economische groei van 6,5 procent in 2013.

Premier Li's uitspraken waren desalniettemin een opsteker voor beleggers omdat Beijing een `harde landing` van de economie lijkt te willen voorkomen. De Shanghai Composite index sloot 2 procent hoger na het nieuws.

Vorige week maandag stelde Nomura zijn groeiverwachtingen voor China voor 2014 nog neerwaarts bij van 7,5 naar 6,9 procent. In een toelichting stelde Nomura dat “de regering heeft het publiek duidelijk gemaakt dat het minder begaan is met het groeitempo en meer met de kwaliteit en de duurzaamheid van de groei”.

China is bezig de economie te herstructureren om het aandeel van investeringen relatief terug te brengen en de consumptie op te krikken. Sommige economen zijn bezorgd geraakt over China's uitzonderlijk hoge niveau van investeringen, die geen economische waarde zouden creëren of zelfs waarde zouden vernietigen en niet zouden leiden tot hogere consumptie in de toekomst.

Volgens Nomura is er daarnaast in China een tijdperk van schuldenafbouw aangebroken na de sterke kredietgroei in de afgelopen jaren.

Door: ABM Financial News.
s.lin
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Bedrijvigheid industrie China krimpt sterker
24 juli 2013 07:29 AM
De bedrijvigheid in de Chinese industrie is in juli sterker gekrompen dan verwacht.
De inkoopmanagersindex van HSBC, die de bedrijvigheid meet, zakte naar 47,7 van 48,2 een maand eerder, zo werd vanochtend bekend op basis van voorlopige cijfers. Economen hadden gemiddeld op een vergelijkbare stand als in juni gerekend.

Inkoopmanagersindex
De HSBC-inkoopmanagersindex voor de Chinese industrie heeft daarmee het laagste punt bereikt in 11 maanden. Een stand van 50 of meer duidt op groei van de sector, daaronder op krimp. Het definitieve HSBC-cijfer voor juli komt op 1 augustus. Die dag maakt ook de Chinese overheid haar inkoopmanagersindex voor de industrie bekend.

Het tegenvallende industriecijfer is een nieuwe aanwijzing dat de Chinese economie, de op een na grootste ter wereld, aan het afkoelen is. De economie groeide in het tweede kwartaal met 7,5 procent, na een vooruitgang met 7,7 procent een kwartaal eerder. Voor heel 2013 mikt de Chinese regering op een groei van 7,5 procent, maar het wordt steeds onzekerder of die doelstelling wel kan worden gehaald.

Door ANP Nieuws
voda
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Chinese steelmakers raise prices on economic growth optimism

Bloomberg reported that Chinese steelmakers including Hebei Iron & Steel Group and Jiangsu Shagang Group Co joined their Japanese peers in raising prices after Premier Li Keqiang signaled China may support economic growth.

According to its website, Shagang, the nation’s biggest non state owned mill, raised steel wire prices on July 21 by as much as CNY 100 (USD 16) a metric tonne. It was the Zhangjiagang, Jiangsu province based steelmaker’s second increase this month. Hebei Steel, China’s biggest producer, raised some steel sheet prices by as much as CNY 100 for August delivery after cutting them a month earlier.

China, the world’s largest producer and consumer of steel, will seek to keep economic growth, employment and inflation within limits, avoiding “wide fluctuations,” Li said July 16. He said at a recent meeting with economists 7% is the “bottom line” and the nation can’t allow growth to fall below that, the Beijing News reported.

Source - Bloomberg
voda
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Ongekende uitstroom geldmarkt China


SHANGHAI (Dow Jones)--De Chinese geldmarkt heeft afgelopen maand aan een ongekende uitstroom geleden, terwijl beleggers hun geld veilig stelden vanwege de bezorgdheid over een liquiditeitskrapte dat het bancaire systeem aantaste, stelt Fitch Ratings.

De geldterugtrekkingen tonen hoe verspreid de onrust in het financiele systeem was in juni, toen de rentetarieven waartegen banken elkaar geld lenen naar recordhoogtes stegen en aandelen van banken tuimelden. Geldmarktfondsen worden normaliter gezien als e e n van de veiligste beleggingen, aangezien ze beleggen in korte termijn instrumenten zoals bankdeposito's en kortlopende staatsobligaties.

Het totaal beheerd vermogen van de fondsen daalde in het tweede kwartaal met 40% naar JPY304 miljard ($49,59 miljard), waarbij de institutionele gerichte fondsen nagenoeg met 50% daalden naar JPY136 miljard, aldus Fitch.


Door Shen Hong. Vertaald en bewerkt door Ellen Proper; Dow Jones Nieuwsdienst: +31-20-5715200; ellen.proper@dowjones.com

voda
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ArcelorMittal automotive joint venture VAMA unveils brand in China

Valin ArcelorMittal Automotive Steel Co Ltd the joint venture between ArcelorMittal and Valin Steel, officially unveiled its brand in Loudi, China.

Mr Wang Jun chairman of VAMA and Mr Sanjay Sharma CEO of VAMA, attended the ceremony and presented VAMA’s brand strategy. The VAMA brand, symbolised by its new logo, represents the unity between the company’s diverse cultural backgrounds and promises a commitment to reliability and innovation. This reflects VAMA’s core values of putting the customer first, offering a high quality of service, being people centric, having a high level of corporate governance, being socially responsible, and having efficient supply chain management.

The distinctive VAMA logo brings together the characteristics of both Valin, with its Phoenix icon, and ArcelorMittal, with its bold and distinctive orange corporate colour.

As the leading project in Hunan Province’s new industrialisation process and one of the major automotive steel projects in China, VAMA was formed in June 2008 and approved by China’s National Development and Reform Commission in June 2010. VAMA began its accelerated construction plan in June 2012, with operations expected to begin in mid-2014.

VAMA will produce state of the art automotive steels for safe and cost-efficient lightweight design, superior surface quality and coating technology. ArcelorMittal is supporting the project with its advanced technology and providing production know-how to both Valin Lianyuan Steel and VAMA, to ensure a seamless production flow along the entire supply chain.

VAMA’s product portfolio will include technologically advanced products developed by ArcelorMittal such as Advanced and Ultra High Strength Steel grades of up to 1200 MPa and Usibor®1500P, specifically designed for the growing application in hot stamping. VAMA’s world-class product lines will include a continuous pickling and cold rolling mill with an annual production capacity of 1.5 million tonnes, followed by a continuous mixed annealing line with a capacity of 1 million tonnes, and a continuous hot dip galvanising line with a capacity of 0.5 million tonnes.

Output will be China-focused, with the aim of developing a world class local supply to serve the growing local market. VAMA is also aiming to supply international carmakers and Tier 1 auto makers, to promote high-end solutions to domestic car manufacturers and their suppliers’ networks. VAMA aims to foster partnerships with ArcelorMittal’s major global accounts present in China (such as Volkswagen, GM, Ford, PSA, Daimler-Benz, BMW, Toyota, Honda, Renault, Fiat and Nissan) as well as with large domestic manufacturers such as Geely, Chery, Dongfeng, Guangzhou Auto, Shanghai Auto and Changan.

Mr Wang Jun chairman of VAMA said that “VAMA is committed to leading the development of China’s automotive steel industry in close partnership with automotive manufacturers, while providing safer and more eco-friendly advanced automotive steel, which also meets the sustainable development requirements of China’s automotive industry. Meanwhile, we are proud that we have an experienced and effective international team from many different countries working closely with our local team, which enables VAMA to be more inclusive of different cultures and maintain a unique international perspective of the market.”

Mr Brian Aranha CMO of ArcelorMittal automotive worldwide said that “ArcelorMittal is the leading supplier of flat carbon steels to the global automotive market, including advanced and ultra high strength steels: trademarked and patented products such as Extragal® and Usibor®. VAMA represents the introduction of ArcelorMittal automotive technology in China. VAMA is the result of a strong partnership with Valin Steel. Both partners are committed to ensuring the success of VAMA with competitive technology, global R&D support, management know-how, a strong brand and customer focus.”

Source - Strategic Research Institute

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Iron ore at highest in nearly 3 months on firm China steel market

Reuters reported that spot iron ore prices rose to their highest in almost three months backed by expectations for Chinese mills to keep steel production high to keep up with firm demand.

Chinese steel prices have rebounded nearly 5% in July, as end users restocked after prices fell 15% in the first half of the year along with slower economic activity.

Data compiled by Steel Index showed that Benchmark 62% grade iron ore .IO62-CNI=SI edged up 0.2% to USD 132.10 per tonne on Wednesday, its loftiest since April 30.

An iron ore trader in Hong Kong said that "There's no rush to buy cargo, but mills and traders are still looking. The reason they still want to buy is because order books for mills are already filled up to October so they need to maintain steel output."

Industry data showed that China's crude steel output stood at 2.083 million tonnes in the first 10 days of July, down 4.5 percent from the previous 10 days but still near the record pace of 2.193 million in May.

Trader said that mills on average are making about CNY 50 per tonne of margin which is much better than losing CNY 200 to CNY 300 about two to three months ago. But having already risen a steep 13% this month, iron ore prices are unlikely to climb sharply further.

The most traded rebar contract for January delivery on the Shanghai Futures Exchange was nearly flat at CNY 3,694 per tonne by the midday break but not far off the two month high of CNY 3,712 reached last week.

July and August are typically lean months for steel consumption as construction activity in China slows in summer. But the rebound in steel prices has sparked hopes of a recovery for the sector.

Iron ore swaps were also firmer, reflecting market expectations spot prices may sustain gains in the near term. The August contract traded at USD 129 per tonne and USD 130 per tonne after settling at USD 128.87. September was trading at USD 126 versus the prior session's USD 125.94.

Source - Reuters

voda
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Chinese stockpiles of iron ore fall

Chinese stockpiles of iron ore has fallen at 25 major ports last week as market participants indicate a pick up in acitivity.

Iron ore 62% in China for immediate delivery at Tianjin port rose 0.4% to USD 132.00 per tonne. Inventories of imported iron ore stood at 73.45 million tonnes down 1.13% from the previous week.

The price index for 63.5% grade Fe imports rose 6 points from the previous week to 133 points. The index for 58% grade iron ore increased 6 points to 117.

The report said that iron ore prices will rise marginally in the following week, adding that trading volume is not expected to rise.

Meanwhile, Sichuan Expressway Company reported it would invest USD 8 billion (or near CNY 50 billion) to build 5 expressway and infrastructure projects in China.

Source - Proactive Investors
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Die chinzen slaan enorme hoeveelheden goud in, lees ik in het volgende artikel www.goudstandaard.com/wgc-chinezen-ko...

Weten zij iets dat wij niet weten? Dekken ze hun valuta in?
voda
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Chinezen kopen Australische kopermijn

Gepubliceerd op 29 jul 2013 om 07:03 | Views: 2.213

PEKING (AFN/BLOOMBERG) - Het Chinese China Molybdenum koopt het meerderheidsbelang in de Australische kopermijn Northparkes van de Brits-Australische mijnbouwgroep Rio Tinto. Dat werd maandag bekendgemaakt. China Molybdenum betaalt 820 miljoen dollar voor de mijn.

Rio Tinto heeft een deelneming van 80 procent in de mijn, de rest is in handen van Sumitomo, die het recht heeft om het bod te evenaren. De overname moet eind dit jaar worden afgerond. De Northpakes-mijn is sinds 1994 operationeel.
voda
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China to cut outdated steel making capacity

China will shut down 9.75 million metric tons of outdated iron and steel production capacity, the Ministry of Industry and Information Technology said in a statement late Thursday.

The ministry said that the government has been on a campaign to upgrade and consolidate its metals industry and wants the latest batch of closures done by the end of September.

The amount of iron and steel capacity to be cut amounts to about 1% of steelmaking capacity.

The government has been slowing its pace of capacity cuts, with this year's volume at around half of last year's target of 18.15 million tons and 59.16 million tons of capacity earmarked in 2011.

The China Iron and Steel Association has said recent rounds of capacity cuts are declining because of already massive reductions of around 195 million tons under China's 2006-2010 five-year economic plan.

The ministry also ordered 654,400 tonnes of outdated copper capacity and 260,000 tons of outdated galvanized aluminum capacity shut by the end of September.

Source - online.wsj.com
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Chinese gold demand could hit 1000 tonnes this year - WGC

Reuters reported that China's gold demand could hit a record 1,000 tonnes this year which means it would overtake India as the world's biggest bullion consumer.

Mr Marcus Grubb MD for investment of the World Gold Council said that Chinese gold demand is likely to be in the region of 950 tonnes to 1,000 tonnes in 2013 but risks are skewed to the upside and could push demand past the upper end of that range.

Mr Grubb said that "China will probably be the world's biggest gold consumer this year for the first time on an annual basis. That will be driven by both jewellery and investment demand. Jewellery will be the biggest overall demand segment, but investment will grow fastest."

Physical deliveries from the Shanghai Gold Exchange in the first half of 2013 exceeded total deliveries for all of last year, exchange data showed, while premiums over spot prices rose above USD 20 an ounce. China's demand for gold in fabrication, which covers jewellery and other decorative and industrial uses, amounted to 590.5 tonnes last year.

Mr Grubb said that India's gold demand is likely to be at the lower end of earlier guidance at around 850 tonnes. The Indian government has moved to curb gold imports this year in a bid to cut a record trade deficit.

He forecast global central bank gold acquisitions this year at around 400 tonnes, down from a 48 year high of 532 tonnes in 2012. He described mine supply as a wild card and said scrap supply was expected to decline by 300 tonnes to 400 tonnes from 1,616 tonnes last year.

Source - Reuters

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Lichte groei bedrijvigheid Chinese industrie

Gepubliceerd op 1 aug 2013 om 07:09 | Views: 1.537

PEKING (AFN) - De bedrijvigheid in de omvangrijke Chinese industrie is in juli iets sterker gegroeid dan een maand eerder. Dat blijkt uit de inkoopmanagersindex voor de sector die donderdag door de Chinese overheid werd bekendgemaakt.

De index steeg tot een stand van 50,3, van 50,1 in juni. Economen hadden in doorsnee verwacht dat de index zou dalen naar een niveau van 49,8. Een stand van 50 of meer duidt op groei, daaronder op krimp.

De inkoopmanagersindex van HSBC voor de Chinese industrie liet voor juli een stand zien van 47,7. Daarmee bereikte de HSBC-index het laagste punt in 11 maanden.
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China underwhelms with salvo to slim bloated industry

Reuters reported that China's edict to more than 1,900 companies to shut excess production capacity by September is the latest effort to slim down bloated industries but in the key steel, aluminium and cement sectors the cuts are just a fraction of their surpluses.

Analysts said that Broader efforts, including credit curbs, raising environmental standards and energy efficiency will help slow the expansion of these sectors, but Beijing's push towards industry consolidation will be slow to materialize

Mr Li Keqiang Premier of China has vowed to curb overcapacity as part of efforts to shift the economy away from investment in heavy industries, a move that could dampen its appetite for raw material imports such as iron ore, coal, copper and bauxite.

Beijing's latest orders suggest less than 1% of steel and aluminium production capacity will shut by September, which analysts said will still leave a significant surplus. In cement, the shutdown will cover about 3 percent of production capacity, also only denting the excess.

Mr Raymond Yeung an economist with ANZ Banking Group said that "Many of these plants that have overcapacity problems have actually idled their production line for a while. So the actual impact of the cut on the rebalancing of supply will be pretty mild."

China has ordered about 7 million tonnes of excess steel output to be shut in a sector that the China steel association says has surplus capacity amounting to 300 million tonnes. It has ordered 260,000 tonnes of excess aluminium output to be shut when smelting capacity is 27 million tonnes and demand is about 21 million tonnes.

Many smelters ordered to shut were already running at production rates as low as 20% and the impact of the shutdowns will be offset by some 2 million tonnes of new projects due to start by the end of 2013.

Mr Liao Zhenyuan an analyst at Minmetals Futures said that "The expansion of aluminium smelting plants happening in the western regions like Xinjiang will have a cheaper production cost and that will again hit domestic prices further.”

He said that in base metals, China also plans to phase out 654,400 tonnes of copper production capacity. The nonferrous metals association estimates there was more than 7 million tonnes of idle capacity last year and production capacity is expected to reach 40 million tonnes by 2015.

Source - Reuters
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Chinese company may invest in four power projects

China Power Investment Corporation expressed its interest in investing in 4 power projects in Pakistan having a combined energy generation capacity in excess of 2,500 MW.

In a meeting with Mr Mohammad Zubair chairman of Board of Investment, Mr Zhiyig Wang VP of CPI Group accompanied by 15 delegates said that “We are an energy investment company and are interested in investing in four projects in Pakistan.”

Mr Zhiyig Wang said that CPI is one of the five largest state owned electricity producers in China and is integrating industries of coal, power, aluminum railway and port. It supplies 10 percent of the power supply to the country and installed 80,074 MW by the end of 2012.

He said that “Our investment board is mandated to play an important role in the administration and implementation of the government’s FDI policy. It has a strong record of actively encouraging the flow of FDI into the country through speedy and transparent processing of applications, the SEZ act, its investment policy and strategy.”

Mr Wang talked about the four power projects including a 900 MW coal based project located in Thar, Sindh. As per Sino Sindh Resources, the total investment requirement for the development of 10 million tonnes coal per annum is approximately USD 1.5 billion.

He said that CPI will require USD 1.7 billion to install this power plant and the amount will come from the company. The feasibility study of the project is in the works. Its outcome depends on the mining work in Thar Coal. Sino Sindh intends to start coal production by 2015 and power generation by FY 2016.

Source - The News.com

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