China market newsflow headlines

NYboy

Macro:
China Oct CPI will be announced today with market consensus around 4%-4.4%. Also note yessterday the PPI was released at 6.6%.
NDRC held an emergency meeting to arrange for the government’s new added Rmb100bn investment within the year yesterday, and the meeting decided that the new investment should be put into those ongoing projects which can quickly generate the practicality workloads.
State Council emphasizes the stability of stock and property market in yesterday’s internal conference. Also Bank, securities, insurance industry must increase their support for economic growth to meet financial service demand from real economy.
China Social Security Fund said their current fund size has now reached 500 bln Rmb while 30% (150 bln Rmb) will be on schedule to be invested in the direct investment of PE deals and PE funds, while so far only 50 bln was employed and expect more PE funds come to reach them.
A result of media survey among 14k potential house buyers indicate that 80% of interviewees expect further price decline of house prices in 2009.
Domestc urea producers witnessed a sharp price drop of urea fertilizers from 2500 to 1700 Rmb/ton and has hit their production cost.
PBOC chairman Mr. Zhou clarified the earlier media reportings by saying he will not exclude the possibility of RMB depreciation but not imply the currency will depreciate. Also he said there is no sign that foreign capital flee out of China or there is major change to our forex structure.
PBoC Shanghai Branch yesterday issued Shanghai city’ monetary report in October. The report indicates that the growth rate of both deposit and credit loan has been slowing down MoM for the past 3 months: Deposit – up by 22.5% YoY, but Rmb18.26bn less than that in September; Credit Loan – up by 13.4% YoY but down 1.9% MoM.
NDRC official says that the regulator is pushing for a new rule on the bond issuance by private equity funds.
About 8 Small-Loan companies in 6 pilot districts would start to operate in Shanghai, announced by the fiancial office of Shanghai municipal government announced yesterday t
Local news reports says that the government’s new Rmb4tn of stimulus plan would boost cement demand by 500mn tons. Yesterday, the whole cement sector was near limitup.

Listcos:
China Railway Group Ltd (601390)'s parent company acquired Guangdong Administration of China Shipping Bureau freely, arranged by SASAC.
Sinopec Shanghai Petrochemical Co Ltd (600688) still holds 400,000 tons crude oil at the price of 130 USD per barrel, which make the company can not enjoy the current low crude oil prices before the company use up its current crude oil inventory.
A local newspaper reported that China Ping An might cancelled its refinancing plan released in January, due to its weak performance this year.
Wuliangye Yibin Co Ltd (000858) plans to acquire its parent company's Alcohol-related assets at one time.
Until November 3, Sinopec (600028)'s Tahe oil and natural gas field realized more than 1 billion cubic meter natural gas.