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2012 was a record year for Chinese investment in the United States. Chinese firms completed U.S. deals worth $6.5 billion, a 12 percent increase from the previous record of $5.8 billion in 2010. This new record reflects both the growing determination of Chinese firms to expand overseas and the attractiveness of U.S. markets and assets [...]
The pace of Chinese intervention in the foreign exchange market has slowed dramatically, but just how much is a bit of an open question. The People’s Bank of China (PBoC) releases a monthly series on foreign exchange reserves. This number receives a lot of attention because it is high frequency and gives the overall stock [...]
Land reform is one of the most politically sensitive topics in China and it has direct implications for both the real estate market and local government finances. In late November the Chinese State Council passed a draft amendment to the Land Administration Law (CN). The changes are aimed at boosting compensation for farmers whose land [...]
In September, we discussed a dramatic cooling in expectations for appreciation of the RMB. Little or no appreciation in the first nine months of the year led many market actors to change their assumption that RMB appreciation was inevitable. The last three months suggests that this trend is gradually changing as market actors warm up [...]