Full Contents - June 2006

Beware the bilaterals
Political horse-trading mustn't be allowed to stand in the way of the Doha talks - or poorly-devised bilateral trade agreements will wreak havoc in Asia
Money makes the oil flow in
With Beijing keen to dispose of some of its huge foreign exchange reserves, domestic firms are busy drawing up wish lists in anticipation of an international spending spree
Cooling completed
Property taxes have brought real estate under control, but as usual, Beijing and Shanghai have responded differently

Bad vibes over bad debts
The controversial report from Ernst & Young on China�s non-performing loans; plus, a review of Hu Jintao�s recent foreign travels

Bowed but not broken
Despite unbridled piracy of Windows software, Microsoft continues to gallop into China hoping riches are over the distant horizon
Fighting for funds
Domestic banks' move into mutual funds has been loud and lucrative, but it seems to be money markets not equities where their ambitions really lie
Cement shopping
Blighted by oversupply, China's cement industry is desperately trying to move toward consolidation. Cue foreign firms in search of bargain buys
Coming to a head
Big foreign investments have likely come to an end in China's beer market. Now thoughts are turning towards consolidation and better commercial returns
Ports list in murky waters
Tianjin Port finally listed in Hong Kong, but the long road was a warning of potential problems with IPOs from state-run firms

POLITICS AND SOCIETY / Into the lion's den
Saudi Arabia and Africa provided the backdrop for a modern-day version of big game safari as President Hu Jintao pushed ahead with China's hunt for prize energy deals. But it was in the US where Hu really braved the lion's den.

PERSPECTIVE / Asia's special relationship?
Singapore is growing ever more adept at negotiating China's tricky trade channels,　while its state-run capitalism remains something to which Beijing can aspire

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