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Chinese 'Double-Rainbow' Rate Cut Fails To Reignite Rally As Grexit Fears Weigh On Global Markets

All that pent-up demand to be ignited among the farmers and housewives of China thanks to a double rate cut (RRR and benchmark) enabled a mere 2.5% bounce in Chinese stocks at the open which has now completely been erased. As The South China Morning Post's George Chen notes, the most dangerous idea gaining traction in the Chinese stock market is the naïve consensus among ordinary investors that no matter how bad the market gets, the Communist Party will eventually rescue everyone. If not them then, as Chen concludes, [...] Read more ...

via Zerohedge
29 Jun 2015

PBOC Struggles to Balance Volatile Markets

Last week’s moves by the PBOC—and the market’s response—underline not just investors’ dependency on signals from a central bank that often fails to clarify its intentions but also how hard it is for China’s leaders to steer credit. Read more ...

via Wsj
29 Jun 2015

China’s Stocks Extend Rout as Shanghai Index Set for Bear Market

Margin debt outstanding on the Shanghai Stock Exchange dropped 2.5 percent to 1.39 trillion yuan ($224 billion), the most since February. The Shanghai Composite Index tumbled 3.8 percent to 4,035.48 at the morning break, taking declines from its June 12 peak to more than 20 percent. China’s stocks sank in volatile trade, with the benchmark index [...] Read more ...

via Bloomberg
29 Jun 2015

One Driver Explains How He Is Helping to Rip Off Uber in China

Ready-made Uber driver and rider accounts are also for sale, according to advertisements on Taobao. The U.S. car-booking company is spending millions on free rides and driver bonuses, betting the cash will help train China drivers and market Uber services to customers. Fraud accounts for less than 10 percent of bookings in China, Uber said, “much [...] Read more ...

via Bloomberg
29 Jun 2015

Jing Daily: The Business of Luxury and Culture in China

According to Ctrip’s data, to date more than 1 million Chinese tourists have opted for the service. For brands working to connect with Chinese tourists in the midst of their vacations, mobile internet is the way to go. Mobile usage is an important part of travel for Chinese tourists. (Apple) This article was published earlier in our weekly newsle [...] Read more ...

via Jingdaily
29 Jun 2015

China Considering Suspending IPOs Amid Stock Market Plunge

The China Securities Regulatory Commission is meeting this afternoon with major brokerages, said another person, without saying what will be discussed. Chinese regulators are considering suspending initial public offerings to stabilize the country’s tumbling stock markets, according to people familiar with the matter. The people asked not to be i [...] Read more ...

via Bloomberg
29 Jun 2015

Q&A: China carbon crunch

There are growing expectations that China will soon give details of its climate action plan - a key milestone towards UN climate talks at the end of the year. Read more ...

via Bbc
29 Jun 2015

The $8 Trillion Penny Stock: China’s Market of Boom-Bust-Repeat

It’s China’s Shanghai Composite Index, the yardstick for an $8.1 trillion equity market -- the world’s largest after the U.S. -- where extreme volatility is becoming the norm. The Shanghai Composite tumbled 7.4 percent on Friday to a seven-week low, extending its drop from this year’s peak to 19 percent. Fueled by record amounts of borrowed [...] Read more ...

via Bloomberg
29 Jun 2015

Jing Daily: The Business of Luxury and Culture in China

Families with seniors and small children along are particularly interested in entertainment and leisure activities, including island tours and theme park trips, says UnionPay. The report also finds that visiting schools abroad is an especially big priority for families traveling with college-bound teenagers. Shopping habits are becoming more experi [...] Read more ...

via Jingdaily
29 Jun 2015

This Driver in China Explains How He Is Helping Rip Off Uber

Ready-made Uber driver and rider accounts are also for sale, according to advertisements on Taobao. The U.S. car-booking company is spending millions on free rides and driver bonuses, betting the cash will help train China drivers and market Uber services to customers. Fraud accounts for less than 10 percent of bookings in China, Uber said, “much [...] Read more ...

via Bloomberg
29 Jun 2015

What is everybody saying about China-EU ties? - Xinhua

China always firmly supports the European integration process, and is committed to deepening the mutually beneficial China-EU comprehensive strategic partnership. China-EU relations have entered a period of in-depth development, which requires both sides to enrich the content of the China-EU comprehensive strategic partnership through major coopera [...] Read more ...

via Xinhuanet
29 Jun 2015