Full Contents - December 2006


SPECIAL REPORT [Premium content]

  • Opening the doors

  • China is poised to liberalize entry into its banking market. A new world of opportunities and irritations awaits lenders both foreign and domestic

PERSPECTIVE [Premium content]

Dispatches

  • Teetering on the edge of a cliff

  • China is likely to feel the protectionist heat from a Democrat-controlled US Congress, but the economic imbalance at the heart of US-China ties is not so easy to correct
  • Iron wills and irony

  • Shaped by historical tensions and economic pragmatism, relations between Beijing and Tokyo remain unpredictable. Could the environment provide a solution?
  • All is in chaos

  • As internet-driven media goes mainstream, operators may find themselves subject to the same regulatory controls that are used to keep the mass media in check

View from Europe

  • Redressing the imbalance

  • The EU's new policy on China is intended to equalize gains from the trade relationship. Both Beijing and European governments must act to make this happen

REPORTS [Premium content]

  • Thrifty resilience

  • A focus on low-end products may give Chinese exporters an edge to survive a slowdown in the US
  • Sunny for some

  • A dozen solar energy companies from China are looking to list across the Pacific. A new report on global warming may have set the wind at their backs
  • Stuck on the ground

  • Travel between China and the Spanish-speaking world is much harder than it should be
  • Emerging money

  • Developing economies are now emerging as significant sources of cash and altering the flow of investment around the world
  • Courting sponsors

  • Big names are building China brands through sports sponsorship. Opportunities abound for the rest - it's just a matter of finding them
  • Growing old

  • China's working-age population is dwindling. Can the country sustain its economic development as people age?
  • Soft skills

  • China's software outsourcing industry is growing in quantity but not quality. The country can learn a lot from India but, for the time being, Hyderabad's hegemony is safe

Stock Profile

  • Tsingtao Brewery 600600.SH

  • Arguably China's most well known brand, Tsingtao Brewery faces a rough couple of years as competition intensifies in the rapidly consolidating domestic beer industry, which has now outgrown the US to become the world's largest by volume.

The Risk Factor

  • Deceptive safety

  • When it comes to physical security, China has a reputation for safety. Unfortunately this isn't the case when it comes to keeping intellectual property under lock and key

COMMENTARY

  • Old angst, new agenda

  • A double victory for the Democrats in the House and Senate midterm elections appears to have laid the ground for a tougher stance on China
  • China and Africa: Building, and buying, consensus

  • If nothing else, the long line of African leaders at the Great Hall of the People in early November showed China's approach to the continent is generating interest where it was meant to
  • An inconvenient solution

  • China's environmental record is back in the spotlight. But China shouldn't have to meet the challenge alone

TALKING POINT

  • Homeward bound

  • Talk of a bubble is growing, but there is plenty of uncharted water to explore before a bust appears on China's private investment horizon
  • What's in a name?

  • Chinese private equity is starting to catch up with the foreign variety

REVIEW

China Eye

Fat Dragon

Politics & Society

Punditry

QUESTION & ANSWER [Premium content]

  • Leader of the pack

  • With about US$4 billion raised by China-dedicated funds in the last year alone, it is sink or swim time in the country's venture capital market

SPOTLIGHT

  • River town

  • Industry, brains and a plum location compel foreign investors to give Nanjing a hard look

CULTURE

Book Review

  • The new voice of narcissism

  • In the village of Zhangjiashu, in Ningxia province, a young girl called Ma Yan once went without food for two weeks to save money for a ballpoint pen.

Travels to the West

  • The man who lost his life

  • Graham Earnshaw is walking from Shanghai to Tibet when he has the time, starting always from the last place he stopped. This month we find him near Zaoshi in eastern Hubei

MARKETS

Podium

  • An evolving market for takeovers

  • China's new takeovers code could represent the advent of self-regulation in the market but inconsistent enforcement may remain an issue

Red Dragon Fund

  • Heading for the overvaluation vortex

  • China's investors continued to reach for it, driving A-share indices up more than 10% since our last writing. This continued surge factors in many investors' expectations of higher earnings growth for the remainder of 2006 and all of 2007. Moreover, the effect of both international and domestic funds flows cannot be discounted.
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