Forbes published 2014 Chinese rich list

Forbes Chinese version released the 2014 Chinese rich list yesterday which showed thatLi Ka-shing, chairman of Cheung Kong Holdings Ltd. with $ 31 billion net assets listed the top again, the new Hong Kong gambler king Wang Luzhi and monopoly Li Zhaoji were second and third on the list. There were 4 tycoons came from the mainland on the top ten Chinese list.

It is understood that the Chinese Forbes richest list data is come from the annual Forbes Global Rich List, the rich was ranked by their net assets according to their net assets which should more than one billion U.S. dollars. The data showed that there were 290 Chinese in total on the rich list this year, which the number of tycoons came from China mainland was reached 152, accounting for 52%, Hong Kong was accounted for 15%, and Taiwan region was accounted for 10%.

In terms of assets the Chinese total assets was $ 875.6 billion, showed an increase of 22% compared to 2013. Among them, most of the assets come from the Chinese mainland and Hong Kong. Data illustrated that China mainland tycoons have net asset $ 374.8 billion in total, which took 43% of total assets, and Hong Kong tycoons were follow the mainland with net assets of $ 205.15 billion which accounting for 23%.

Forbes said Chinese created a new high of 17.6 % at the Forbes Global Rich List, and the number of entrepreneurs from mainland China also reached a new high, these indicate that Chinese entrepreneurs, especially the entrepreneurs in China mainland play a more and more important role in the global economy.

http://www.dailyeconomic.com/2014/04/22/forbes-published-2014-chinese-rich-list/

China loan growth below market expectations in April

On Monday China’s central bank released data as follows:

New bank loans    Total social financing M2 (annual rate %)

————————————————
April   774.7   1550    13.2
MNI survey forecast median value 850 1650 12.2
March   1050   2070   12.1

Unless special noted, the above data unit was one billion Yuan

Factors:

- at the end of April RMB deposit balance annual rate rose by 10.9%, compared to the end of March rose by 11.4% .

-at the end of April RMB loans annual rate rose by 13.7%, compared to the end of March rose by 13.9%.

-at the end of April M0 annual rate rose 5.4 percent, compared to the end of March rose by 5.2%.

-at the end of April M1 annual rate rose by 5.5%, compared to the end of March rose 5.4%.

China April new increasing of loans and total capital of social financing – this system got good graces by China’s central bank and took as credit activities guidance- were slightly below the market expectations. The growth was lower than the official annual target of 13% growth after March, in April the M2 growth was higher than official growth target 13%.

New credit decreased in April may indicate that high corporate struggles when they face higher borrowing cost, but anecdotal evidence suggested that the debt default risk was still concentrated in sectors such as overcapacity and excessive tension in the small private steel industry.

http://www.dailyeconomic.com/2014/05/12/china-loan-growth-below-market-expectations-in-april/

PetroChina plans to sell west-east pipeline assets

China’s largest oil company, PetroChina Co. announced on Monday evening, it plans to sell 38.95 billion yuan net asset value of west-east gas pipeline assets, to promote the development of the mixed ownership economy, to optimize the company’s asset allocation and financing structure, realize the diversification of property rights structure.

This is another important measure of large state-owned enterprises to promote the reform of the mixed ownership with the central, after China Petroleum & Chemical corp. announced that it would introduce social and private capital to run its oil sales business.

“The proposal about setting up the Eastern oil pipe PetroChina co., LTD. and the transfer of property rights related issues” is approved by PetroChina’s board of directors on Monday.

According to the bill, PetroChina pipeline plans to fund the wholly owned subsidiary, Eastern oil pipe Petrochina co., LTD. through assets and liabilities about first and second west-east project which managed by west-east gas pipeline subsidiary corp., as well as the assets and liabilities associated with the second west-east project accounted by pipeline construction project manager department.

East Pipeline Company is planed to be registered in Shanghai Pudong New Area, the registered capital is planed to be 10 billion yuan. After the establishment of East Pipeline company, PetroChina plans to transfer publicly its 100% stake of East Pipeline Company through property exchange, and no longer have any stake of East Pipeline Company.

According to the announcement, KPMG audited the invested assets and the end of 2013 as the base day, the total assets is 81.67 billion yuan, total liabilities is 52.67 billion yuan, net assets is 29 billion yuan.

http://www.dailyeconomic.com/2014/05/12/petrochina-plans-to-sell-west-east-pipeline-assets/