Weblog with daily updates of the news on a frugal, fair and beautiful China, from the perspective of internet entrepreneur, new media advisor and president of the China Speakers Bureau Fons Tuinstra
Is there a bubble in China's real estate. Yes says independent analyst Andy Xie, but our Shaun Rein takes on that assumption. When 60 percent of the apartments in Beijing are paid for in cash, there is no bubble, he tells CNBC. Both opponents are going to cross swords later this week at CNBC.
Also, more on Shaun Rein bearish predictions for the four state-owned banks like the AgBank, who announced sky-high profits last week.
Shaun Rein, managing director of the market research group CMR, might be in general optimistic about China's economic development, at CNBC he cautions against too many bears on the road for China's Agricultural Bank, also called AgBank or ABC. The bank performed poorly at its listing on Thursday at the Shanghai stock exchange. The bank is too much a political tool and might not help investors, says Rein.
Most of its customer'base are poor Chinese farmers, who might switch to more consumer-savvy banks like the China Merchant Bank, when they actually start to make money in the decades to come. Also, of its customers currently already 90 percent is not satisfied about the banks performance.
Shaun Rein by Fantake via Flickr
