22 January 2020

Zhang Xinmo

The writer is an economic commentator. He writes mostly on business issues in Greater China.
  • The cost of holding a World Cup tournament is increasing, with stadium construction taking up the bulk of expenditure.  Photo: Bloomberg

    World Cup economics: Forget it, just have fun

    - Jun 11, 2014 10:01am
    The FIFA World Cup, arguably the most popular sports gala after the Olympic Games, can bring in huge economic benefits. Very few people would question the idea. It’s clear the event can attract tourists and spur...
  • Rather than tinker with interest rates, China prefers to adjust the reserve ratio for commercial banks because of its immediate effect in managing liquidity. Photo: Bloomberg

    Why China likes to tinker with bank reserve ratio

    - Jun 4, 2014 9:58am
    As more indicators show the Chinese economy is facing rising pressure to slow down, calls grow for a cut in the reserve requirement ratio (RRR) for commercial lenders. Whether the government should heed these calls remains...
  • A man walks past a monument at the Shanghai free-trade zone. Photo: Bloomberg

    Don’t rush to replicate the Shanghai FTZ model

    - May 28, 2014 11:14am
    The Shanghai (China) Free Trade Zone (FTZ) hit the headlines again recently due to two developments. One is that Shanghai’s deputy mayor Tu Guangshao said the zone will update the so-called negative list of industries where...
  • The government's efforts to crack down on speculation have been undermined by businesses taking advantage of the interest rate gap between loans in yuan and the greenback. Photo: Reuters

    Down but not out — a little more upside left in yuan

    - May 22, 2014 11:25am
    The ongoing cycle of yuan depreciation seems to be long and deep. The currency has fallen by more than 3 percent against the US dollar this year, reversing the appreciation that came after the end of the...
  • Official fears grow as clouds gather over the mainland property market. Photo: Bloomberg

    Govt junkies struggle to kick real-estate habit

    - May 15, 2014 2:12pm
    Mainland governments, both central and local, have thrown in the towel in the face of a slumping property market, reflecting official fears of a steeper-than-expected economic slowdown. In a round of activity this week, the People’s...
  • Holidays offer no relaxation for many harried Chinese parents. Photo: Bloomberg

    Why holidays mean more work for Chinese parents

    - May 7, 2014 11:01am
    May Day, or Labor Day, is an occasion to celebrate the working classes and their struggle for rights and benefits. With about 80 countries and regions around the world marking the day — May 1 —...
  • The surveyed urban unemployment rate does not include the rural population, migrant workers and fresh graduates. Photo: Reuters

    China turns to new job indicator

    - Apr 29, 2014 9:13am
    China’s surveyed unemployment rate in 31 large and medium-sized cities stood at 5.17 percent at the end of March, a slight decline from a month earlier, the National Development and Reform Commission announced at a news conference...
  • Premier Li will take measured steps to keep the Chinese economy on stable growth path. Photo: Bloomberg

    China walks an economic tightrope

    - Apr 23, 2014 10:36am
    China is pressing the growth button after recent data showed the nation’s economy cooled to a multi-year low. On April 18, Premier Li Keqiang chaired a meeting of the National Energy Commission and announced that the...
  • China's central bank should continue to support deleveraging efforts as economic growth cools. Photo: Reuters

    China has no urgent need for bank reserve ratio cut

    - Apr 11, 2014 4:15pm
    China is scheduled to release first-quarter economic figures next week. It is widely expected that the data will show a further slowdown in GDP growth in the world’s second-largest economy. Most estimates put the figure at...
  • Chinese companies are turning their attention to consumer-related firms in overseas M&A deals. Photo: Bloomberg

    China firms shift M&A focus to consumption plays

    - Apr 8, 2014 11:09am
    Chinese companies flexing their muscle on the international stage is nothing new. But what is interesting now is that the firms are growing increasingly fond of consumption-related targets. According to the Ministry of Commerce, China’s outbound...
  • President Xi Jinping

    China-EU honeymoon to continue

    - Apr 4, 2014 2:16pm
    President Xi Jinping’s just-concluded visit to Europe shows that the honeymoon between China and the European Union is not over yet. Politically, Xi gained the understanding, if not support, of European leaders over China’s stance on...
  • The state banks’ restrictions on Yu'E Bao and Alipay don't make much sense from the point of view of consumers. Photo: Bloomberg

    Yu’E Bao steps on the tail of the mighty banking dragon

    - Mar 27, 2014 3:09pm
    If you still need an example of how vested interests are using their monopoly to choke innovation and deter reforms, China’s financial sector provides a new one. China’s big four state-owned commercial banks are clamping down...
  • China has a lot more work to do on the renminbi's internationalization path. Photo: Bloomberg

    Domestic reforms needed to promote yuan overseas

    - Mar 20, 2014 8:38am
    One of the significant changes in the government work report that Premier Li Keqiang delivered to the National People’s Congress on March 5 was the lack of mention of “promoting the use of yuan globally”, unlike...
  • Premier Li

    Internet finance gets its seat, officially

    - Mar 10, 2014 9:08am
    It’s official: Internet finance is legal in China. And it is more than just getting a legal status. It has won the heart of at least one top leader in Beijing. In his government work report delivered...
  • Premier Li is seeking to put his own stamp on China's economic future. Photo: Reuters

    Reading the signs to see what’s really on Li’s mind

    - Mar 7, 2014 8:40am
    Some things changed and some remained the same but all offer clues to the thinking in Premier Li Keqiang. Li delivered his first work report as premier to the legislature Wednesday, in turn overlapping with and...
  • The renminbi's decline against the US dollar is more likely the result of the Chinese central bank's intervention. Photo: Bloomberg

    Yuan’s recent depreciation to be short-lived

    - Feb 27, 2014 8:48am
    Renminbi’s recent weakening does not mark the end of the currency’s decade-long appreciation trend, as China will continue to see its money inflows outweighing outflows this year. However, it is also unrealistic to expect the yuan...
  • Chinese regulators are seeking to redefine what exactly constitutes shadow banking. Photo: Bloomberg

    Shadow banking definition becomes complicated

    - Feb 20, 2014 9:47am
    Yan Qingmin, vice-chairman of the China Banking Regulatory Commission (CBRC), made some interesting remarks on February 17. In an apparent attempt to clear the name of commercial banks, Yan said Chinese lenders’ wealth management business should...
  • China's trade performance in January was quite robust even with fewer working days. Photo: Bloomberg

    Too early to celebrate China trade triumph

    - Feb 13, 2014 11:56am
    While many regard China’s January trade figures, which easily surpassed market expectations, as a sign of global economic recovery, they may not accurately reflect the truth. Several puzzles remain, and we need more data to see...
  • Retail figures will get more attention as China marches toward a consumption-led economy. Photo: Bloomberg

    Ten things to watch in Year of the Horse — Part two

    - Feb 7, 2014 10:36am
    Yuan trend It seems only a matter of time before the renminbi breaks the 1:6 barrier against the US dollar. If it continues to appreciate, even if very slowly, this will happen in just a few...
  • Last year's launch of the Shanghai Free Trade Zone was far from impressive

    Ten things to watch in Year of the Horse — Part one

    - Feb 6, 2014 11:20am
    The past year was a significant one for China, especially on the economic front. It was the start of a round of economic reforms expected to define the development path of the world’s second largest economy....