China Macroeconomics & Academia

Christopher Balding

Macroeconomics

Despite all the focus on Chinese financial markets and the accompanying imbalances, there are questions about how exactly to trade China right now.  Many have used the China blowing up thesis trying to replicate the Big Short.  This seems like a risky trade with a potentially very lengthy wait. There are other obvious trades in the interim that seem to have significantly positive risk adjusted return potential.  The trade today builds on one of the most widely recognized imbalances but creates…

Despite all the focus on Chinese financial markets and the accompanying imbalances, there are questions about how exactly to trade China right now.  Many have used the China blowing up thesis trying to replicate the Big Short.  This seems like a risky trade with a potentially very lengthy wait. There are other obvious trades in the interim that seem to have significantly positive risk adjusted return potential.  The trade today builds on one of the most widely recognized imbalances but creates…

Industrial output data implies a continued further increase in the Chinese PMI number due May 1.  Steel output has made small gains in April over March in advance of the upcoming building season. PTA output has increased significantly in April over March while glass has inched up incrementally.  Coal output and inventories have trended downwards given the increasingly mild weather in spring between winter and summer peak load times.  We are anticipating an uptick in the official PMI given the…

Industrial output data implies a continued further increase in the Chinese PMI number due May 1.  Steel output has made small gains in April over March in advance of the upcoming building season. PTA output has increased significantly in April over March while glass has inched up incrementally.  Coal output and inventories have trended downwards given the increasingly mild weather in spring between winter and summer peak load times.  We are anticipating an uptick in the official PMI given the…

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese economic activity appears to be stabilizing in April.  We are not witnessing a pullback from the expansion in the real economy we saw post Chinese New Year in March but nor are we witnessing continued expansion.  Given the explosion in credit, the relative lack of continued expansion should be cause for concern.

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

Event-Driven

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival Terex Corp., a source familiar with the industry told <a href="http://ctfn.news" target="_blank">CTFN</a>.

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival Terex Corp., a source familiar with the industry told CTFN.

Zoomlion's Financing for Terex Bid Questioned

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

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<ul><li class="p1">Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High.</li><li class="p1">While this deal may theoretically help Zoomlion gain access to much-needed advanced crane technology and access to global markets, we consider the price tag to be too high, and believe that it will further stretch Zoomlion’s already-weak balance sheet.</li></ul>Analysts: John Hu &amp; Ross MacMillan

Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High.While this deal may theoretically help Zoomlion gain access to much-needed advanced crane technology and access to global markets, we consider the price tag to be too high, and believe that it will further stretch Zoomlion’s already-weak balance sheet.Analysts: John Hu &amp; Ross MacMillan

With Its Boom Days Behind It, Cash Flow Is Key for Zoomlion.

China

Zoomlion Heavy Industry Science and Technology Co., Ltd.manufactures and markets construction machinery.  The Company's products include concrete machinery, cranes, road machinery, drilling equipment, and other heavy construction equipment.  Zoomlion also produces environmental machinery and satellite navigation products.

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Zoomlion Heavy Industry H (1157 HK)

Trading China: The Little Short

Despite all the focus on Chinese financial markets and the accompanying imbalances, there are questions about how exactly to trade China right...

Christopher Balding

Chinese Industrial Data on PMI Release

Industrial output data implies a continued further increase in the Chinese PMI number due May 1. Steel output has made small gains in April over...

Christopher Balding

Chinese Flash Numbers Fail to Build on Post-New Year Bounce

Chinese economic activity appears to be stabilizing in April. We are not witnessing a pullback from the expansion in the real economy we saw post...

Christopher Balding

Zoomlion's Financing for Terex Bid Questioned

Chinese construction machinery manufacturer Zoomlion Co. Ltd. might not be able to finance its proposed $30 per share all-cash offer for U.S. rival...

CTFN

With Its Boom Days Behind It, Cash Flow Is Key for Zoomlion.

Proposed Terex Takeover Sounds Attractive in Theory, but the Price Tag Is Too High. While this deal may theoretically help Zoomlion gain access to...

Morningstar, Inc.

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