3 articles via Bloomberg on China for a read on a quietish Asian arvo
China has returned to reform mode.
- Having stabilized the economy with a mix of fiscal support and easy monetary settings, China's leaders appear to be reviving a stalled reform push that's key to long-term growth prospects
- "The pace of reform had been slower than expected," said Shen Jianguang, chief Asia economist for Mizuho Securities Asia Ltd. in Hong Kong. "Now, policy makers want to speed it up again. With monetary easing proving less effective in propping up the economy, they have realized that there's no way out if they don't push forward on reform."
Three readings based on private surveys suggest weaker sentiment in August at large and small firms. It's not all bad news, though: A gauge of the steel market continued to rebound and a satellite index of factory activity edged up.
- Standard Chartered Small and Medium Enterprises Confidence Index fell to 54.9 this month from 55.5 in July
- MNI China Business Sentiment Indicator fell to 54.3 in August from 55.5 in July
- Sales managers are also feeling a little more glum. An index by London-based research firm World Economics Ltd. edged down to 51.2 in August from 51.7 in July.
- The China Satellite Manufacturing Index was little changed at 48.2 in August
- S&P Global Platts China Steel Sentiment Index jumped to 62.68 this month from 53.71 in July
Shanghai, where prices of new homes jumped 27 percent in July, is preparing to discuss a fresh round of curbs including potential restrictions on mortgages and loans to developers, according to people familiar with the matter.
- Beijing and Tianjin are also contemplating new measures to rein in prices, according to three of the people.
