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Overview: China Real Estate Market

Overview: China Real Estate Market

April 30, 2010 (Yantao Li) There has been a lot of news recently about the efforts by the Chinese government to cool-off the property market. The Shanghai Composite Index (SHA:000001) has fallen to record lows in 2010 as the government is cracking down on the sector. For this reason we're going to take a closer look at the sector, its size, key players, the presumed property bubble and its implications.

1978 marked a beginning of a new area in China in the property market - the first time commercial building was allowed since 1949. Over time China has developed a highly competitive real estate market. There are over 200 listed or non-listed real estate companies as well as many real estate service providers.

 

Stocks mentioned in this report: China Housing & Land Development, Inc (NYSE:CHLD), China Infrastructure Investment Corporation (NYSE:CIIC), Xinyuan Real Estate Co., Ltd (NYSE:XIN), E-House (China) Holdings Limited (NYSE:EJ), China Real Estate Information Corporation (NYSE:CRIC), China Vanke Co., Ltd (SZSE: 000002), China Overseas Holdings Limited (HKSE: 0688) and Agile Property Holding Limited (HKSE: 3383).
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Knowledge base

Investing in China 101: Prof. S. L. Chen

Investing in China 101: Prof. S. L. Chen

April 14, 2010 (Chinavestor) This video is a must for China stock investors. S.L. Chen, one of the most influential Chinese on Wall Street, talks about the creation of capital markets in China, about Chinese listed stock on Wall Street among other interesting stories of his own.

"I joined Wall Steet in the early '60s... I was one of the very first Chinese Americans in the business. That's why when China and Taiwan developed their capital markets, I was invited to help."

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Knowledge base

China cements top auto market position

China cements top auto market position

April 9, 2010 (Chinavestor) The China Association of Automobile Manufacturers released the latest production and sales figures on its website. Passenger car sales rose to 1.2 million in March 2010, representing an increase of +63% from March 2008. Total automobile production in March 2010 hit a record 1,734,400 units, representing a growth of +43.79%. Passenger cap production grew to 1,299 million units, up 72.2% from 2008 March. Commercial vehicle production reached  434 900 units, up 25.99% YoY.

March has been a traditionally strong month for car sales, current growth trend is likely to tame going forward.

SAIC Motor (SHA:600104), the largest Chinese auto maker, sold 890,000 cars in the first three months of 2010. The company reported a strong rebound of net profits from last year as the following chart testifies.

General Motors, the largest U.S. car manufacturer, sold 230.048 units in China in March, more than in the U.S. Hyunday, the fastest growing foreign manufacturer, sold 61,638 cars in March. Toyota, the world's largest car manufacturer, sold 61,200 cars in March.

From January to March, total vehicle sales were 4,554 million while production reached  4,611 million, up +76.99 percent and +71.78 percent, respectively. Passenger car sales were 3,462,300 units and production was 3,523,900 units, representing an increase of +84.34% and +76.34%, respectively. Commercial vehicle sales were 1,092 million with production of 1,087 million, up by +57.14% and +58.50%, respectively.

 

Knowledge base

Chinese trade deficit?

Chinese trade deficit?

 

April 9, 2010 (Chinavestor) China is going to release March trade balance data tomorrow - a possible big shocker for many. February trade surplus stood at $7.6 billion but consensus estimate puts that number to a -$390 million, or a trade deficit. This will be the first such monthly reading in six years. China's trade surplus was $196.3 billion in 2009 after a record $263 billion a year earlier. Rising commodity prices and increase in consumer goods are responsible for the shrinking trade surplus.
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Knowledge base

Americans make big money off China

Americans make big money off China

April 7, 2010 (Chinavestor) We all know headlines that American companies have been shipping millions of jobs overseas, notably to China and India, but it is less known that China is becoming a profit center for a large number of Fortune 500 companies. General Electric (NYSE:GE) derives most of its revenues from overseas with an increasingly significant portion coming from China but it was a shocking revelation to many, including myself, that General Motors has been selling more cars in China than at home!

 

According to the latest statistics, General Motors sold 230,048 vehicles in China in March 2010. GM has a 34 percent stake in SAIC-GM-Wuling and a 50 percent stake in Shanghai-General Motors. Saic Motor (SHA:600104) is the largest Chinese auto maker, a company that reported a ten fold increase in net profit from last year. But as the following chart suggests, impressive results are partially due to a record low base in 2008... Just for the record: SAIC Motor (SHA:600104) reported 2009 FY revenues of RMB139.6 billion ($20.432 billion) and net profits or RMB6.591 billion ($965 million).
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