介绍:
CSRC conference
China's top securities regulator has said it will suspend issuance of structured funds and related products because of the complicated structures of these products.
China Securities Regulatory Commission says policies for these funds are being studied.
CSRC also says it is investigating major stakeholders in listed companies for illegally selling off their shares. It has handled 20 such cases to date.
Caixin flash China general manufacturing PMI hits 77-month low in August
The Caixin flash China general manufacturing PMI plunged to a 77-month low in August.
The PMI reading stands at 47.1, down from 47.8 in July.
Readings above 50 indicate expansion.
The survey shows new orders and new export orders continued to decline at a faster rate in August, and employment dropped at a faster pace than in July.
However, He Fan with Caixin Insight Group says systemic risk remains under control and the structure of the economy is still improving.
The flash index is published on a monthly basis ahead of final PMI data.
The estimate is based on approximately 85 to 90 percent of total PMI survey responses from over 420 manufacturing companies each month.
Chinese provincial regions see faster H1 GDP growth
Official data shows almost all Chinese provincial-level regions posted faster economic growth in the first half of this year, compared to the first quarter.
According to the National Bureau of Statistics (NBS), total GDP reached nearly 30 trillion yuan, or 4.7 trillion U.S. dollars, in the first half of this year. It marks a year-on-year increase of 7 percent.
Out of 31 provincial level regions, 27 post faster growth.
Southwest China's Chongqing Municipality registered the fastest GDP growth at 11 percent in the first half, while the northeast province of Liaoning saw the slowest growth, at 2.6 percent.
China's logistics activity posts steady growth in Jan.-July
Logistics activity in China has showed a steady but slow expansion in the seven months through July.
According to a report by China Federation of Logistics and Purchasing, goods delivered from logistics companies around China are worth over 120 trillion yuan, or over 19 trillion US dollars from January to July, up 5.8 percent from a year ago.
Such a growth rate is slightly above the 5.7 percent pace for the first half of the year, indicating a stronger demand for logistics.
The report estimates that logistics demand could increase further in the coming months on expectations of rising domestic consumption, export recovery, and acceleration of new projects.
Revamped investment plan of China's pension fund coming soon
China's revamped pension investment plan is expected to be unveiled by the end of the year.
The revamped plan will allow the money to be invested in government and corporate bonds, major construction projects, leading state-owned enterprises and the stock market.
Previously, the pension fund was only deposited in banks or invested in treasury bonds. An estimate from the Chinese Academy of Social Sciences said the fund depreciated by nearly 100 billion yuan, or nearly 16 billion U.S. dollars in the past 20 years.
The fund accounts for roughly 90 percent of the country's total social security fund pool. It had net assets of 3.5 trillion yuan by the end of last year.
Chinese Investors Buying NYC Property
Anchor:
This year has seen a sharp increase in Chinese investor demand for real estate in New York, with the cash put down this year already exceeding last year's totals.
Our William Denselow has more from New York.
Reporter:
Another building under construction in Manhattan…and yet another property owned by Chinese investors.
Just a few blocks from New York's iconic Times Square, 7 Bryant Park's 30-story concave glass design cuts a distinct figure.
Costing the Bank of China in the region of $600 million- economics professor Ann Lee says they're not the only ones paying huge prices for prestigious properties.
Ann Lee, Author and Professor, New York University
"The Chinese, because they don't know any better, are kind of paying top dollar for the name, the brand name, and the status of owning certain properties. Whether or not that makes any economic sense is besides the point for them right now."
Spending billions of dollars on properties like the General Motors building and the Waldorf Astoria in recent years has literally put Chinese investors on the map.
And while China is not new to the US property market- 2015 is already a record year when it comes to spending.
With some estimates putting investment up at 4.3 billion dollars- smashing last year's total of 3.3 billion dollars.
And analytics director at Real Capital Analytics Yi Wang says poor real estate return rates in China, regulation easing and a desire to diversify portfolios are why many Chinese investors are sending their money overseas.
With New York seen as a safe destination.
Yiqun Wang, Analytics Director, Real Capital Analytics
"The fundamentals of the market are very strong. The occupancy is very high, vacancy is very low and there is very good rent growth prospect for investors."
And while there's a range of Chinese investors, Wang says this current boom is being driven by insurance companies.
Yiqun Wang, Analytics Director, Real Capital Analytics
"Those insurance companies are very well funded and are interesting in diversifying their portfolios so this why insurance companies are very popular for putting US as a destination."
But with market volatility in China combined with a devaluating currency- question linger over whether this growth can be sustained.
And with this devaluation suddenly US property has become more expensive.
But while analysts think this could hurt investment in the short-term, many argue the stability of the US dollar will keep New York as an attractive destination for the foreseeable future.
For CRI, I'm William Denselow in New York.
New home price averages at 27,981y/sq m in July, hitting five-year high
New home prices in first-tier Chinese cities averaged nearly 28,000 yuan per square meter in July.
This is up 25 percent year on year or 1.1 percent month on month, hitting a five-year high.
The survey also reveals home sales in these first-tier cities surged 87 percent year on year. However, it dropped 5.1 percent month on month in July.
The survey is done by property consultancy E-House China.
Australia's consumer watchdog approves Qantas-China Eastern alliance
The Australia Competition and Consumer Commission has approved an alliance between national airline Qantas and China Eastern Airlines.
Under the agreement, both airlines will be able to coordinate processes and flight schedules, allowing greater flexibility and offering shorter domestic and international connections for travelers heading in both directions.
Meanwhile, a number of conditions have been set on the alliance to prevent unfair prices as a result of the capacity sharing.
Back in March, the watchdog aired concerns that a potential alliance would result in the two airlines controlling more than 80 percent of the capacity on some routes.
