{"id":18059,"date":"2016-05-26T17:45:42","date_gmt":"2016-05-26T09:45:42","guid":{"rendered":"http:\/\/westchina.austcham.org\/?p=18059"},"modified":"2016-05-26T17:45:42","modified_gmt":"2016-05-26T09:45:42","slug":"fstp-26052016","status":"publish","type":"post","link":"https:\/\/westchina.austcham.org\/?p=18059","title":{"rendered":"Financial Services Talking Points 26-05-2016"},"content":{"rendered":"

\"FinancialsTPB\"<\/a><\/p>\n

Australia missing out on China\u2019s record buying spree<\/strong><\/p>\n

Chinese investment in Australia has dropped off, plunging \u00adalmost 70 per cent in the past year even as the country\u2019s broader international acquisition spree reached record levels.\u00a0Figures compiled by Credit \u00adSuisse show China has only acquired $US2.5 billion ($3.5bn) of Australian assets so far this year, down from $US8bn this time last year and representing just a sliver of the $US117bn in outbound deals announced so far in 2016.\u00a0The downward trend is expected to reverse, with the recent free trade agreement between Australia and China and the continued availability of cheap debt likely to mean the drop in activity was short-lived. The China-Australia free-trade agreement, which came into force in December, removed many restrictions on Chinese \u00adacquisitions in Australia.\u00a0China\u2019s acquisition interests had shifted from the big-ticket mining acquisitions that characterized the resources boom towards smaller value deals in sectors more consistent with the country\u2019s transition to a consumer-led economy.\u00a0Click\u00a0here<\/a> for the full article.<\/p>\n

China’s\u00a0SOEs\u00a0profit\u00a0decline\u00a0eases<\/strong><\/p>\n

The profit decline of China\u2019s State-Owned Enterprises (SOEs) are eased in the first trimester this year, as the economy showed signs of stabilization, as official data showed Wednesday. The global profit for these companies fell 8.4 percent year on year to 652.26 billion yuan ($98.8billion) during January-April period, according to statistics from the Ministry of Finance. Profits of SOEs under central government control dropped 6.6 percent while those of locally \u2013administered SOEs slumped by 14.2 percent compared with one year earlier.\u00a0SOEs in the sectors of oil, chemicals and construction posted substantial profit declines, while coal, steel and non-ferrous metal industries continued to suffer losses. Meanwhile, transportation, petrochemicals and pharmaceutical companies has seen a big profit increase.\u00a0Click here<\/a> for the full article.<\/p>\n

Morgan\u00a0Stanley\u00a0economist\u00a0upbeat\u00a0on\u00a0China\u00a0growth target<\/strong><\/p>\n

Senior Morgan Stanley economist has predicted China will deliver its annual growth goal this year despite sluggish global economic recovery. The economy expanded 6.7 percent year on year in the first quarter, better than market expectations and in line with an official target range between 6.5 and 7 percent. Weighed on by lackluster exports and investment, the world’s second largest economy is facing a prolonged slowdown. It is normal, according to Morgan Stanley economist, considering that China is transitioning to a more sophisticated model, weaning itself off reliance on investment, upgrading manufacturing and climbing up the industrial value chain. The Chinese currency renminbi, or the yuan, is expected to further depreciate by around 4 percent to 4.5 percent against the US dollar, provided the US Federal Reserve hikes interest rates and China keeps its easing policy. The investment bank has gathered 1,900 elite businessmen and women, investors’ and researchers for its second China Summit, running from Tuesday to Thursday.\u00a0Click here<\/a> for the full article.<\/p>\n

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Australia missing out on China\u2019s record buying spree Chinese investment in Australia has dropped off, plunging \u00adalmost 70 per cent in the past year even as the country\u2019s broader international …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[],"class_list":["post-18059","post","type-post","status-publish","format-standard","hentry","category-financial-services"],"acf":[],"_links":{"self":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/18059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18059"}],"version-history":[{"count":3,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/18059\/revisions"}],"predecessor-version":[{"id":18062,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=\/wp\/v2\/posts\/18059\/revisions\/18062"}],"wp:attachment":[{"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/westchina.austcham.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}