news FROM chinaventurenews.com
China Investment Corp Buys General Motors (Maybe)
All the way back in July, Richard Brubaker over at All Roads Lead to China suggested that General Motors could become a Chinese-owned company....with firms like Anhui Cherry already showing at the Detroit Auto Show, and China's obvious desire to be a global player in the auto market, I am beginning to wonder if we are about to see a big 3 auto maker be purchased in whole/ part by a Chinese firm looking to expand...Okay, it's not likely to be China's sovereign wealth fund, the CIC, that steps in to buy GM. Chances are, no one would buy GM. But a division of GM? Maybe...
The Truth About Cars reported last month that Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler. Brubaker speculates that the more likely path is for a Chinese company to acquire a division of GM. And he goes on to say that the only real questions is "or not this would be a pill American's would swallow." I'm betting GM is trying to get Chinese companies to act interested already - in the hopes that Congress would cough up bailout money just to keep GM a wholly American company.
Buick is the most popular foreign car in China. You knew that, right...?
Photo courtesy of iStockphoto, Geoff Kuchera
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The Truth About Cars reported last month that Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler. Brubaker speculates that the more likely path is for a Chinese company to acquire a division of GM. And he goes on to say that the only real questions is "or not this would be a pill American's would swallow." I'm betting GM is trying to get Chinese companies to act interested already - in the hopes that Congress would cough up bailout money just to keep GM a wholly American company.
Buick is the most popular foreign car in China. You knew that, right...?
Photo courtesy of iStockphoto, Geoff Kuchera
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Categories: China Investment News
Venture Funds Still Spending Big in China
If the Venture Capital model is broken in the U.S., companies that invest VC funds in China don't seem to have figured it out yet; they're investing faster than ever, according to sources like Red Herring.
From Ken Schachter's report:Venture capitalists poured $964 million into 59 funding deals in China in the third quarter, breaking the yearly record set in 2001, according to a new study.
Through three quarters, venture capitalists pumped $3.29 billion into Chinese companies, smashing the full-year record of $2.88 billion set seven years earlier, Dow Jones VentureSource reported.While VC funds are still spending what they have on hand at an amazing rate, Schachter's Red Herring article points out a recent report by Zero2IPO showing VC fund raising down. Way down.
So if that trend continues, the VC people will eventually run out of money to spend - regardless of their own optimism...
Photo courtesy of iStockphoto, david franklin
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From Ken Schachter's report:Venture capitalists poured $964 million into 59 funding deals in China in the third quarter, breaking the yearly record set in 2001, according to a new study.
Through three quarters, venture capitalists pumped $3.29 billion into Chinese companies, smashing the full-year record of $2.88 billion set seven years earlier, Dow Jones VentureSource reported.While VC funds are still spending what they have on hand at an amazing rate, Schachter's Red Herring article points out a recent report by Zero2IPO showing VC fund raising down. Way down.
So if that trend continues, the VC people will eventually run out of money to spend - regardless of their own optimism...
Photo courtesy of iStockphoto, david franklin
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Categories: China Investment News
15 Chinese Cities Key to Driving Growth in Emerging Markets
The China Law Blog pointed this out to me.
Mastercard has come out with its list of the key cities "driving growth in emerging markets worldwide." Of the 65 cities that made the list, 15 are in China...
1 Shanghai
2 Beijing
6 Guangzhou
10 Shenzhen
16 Xiamen
17 Chengdu
18 Dalian
20 Tianjin
20 Nanjing
22 Hangzhou
23 Wuhan
24 Chongqing
25 Qingdao
26 Xian
27 Harbin
As you can see, four of the top 10 cities on the list were in China. Also in the top ten: Kuala Lumpur (fourth) and Bangkok (ninth).
Photo courtesy of iStockphoto, Loic Bernard
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Mastercard has come out with its list of the key cities "driving growth in emerging markets worldwide." Of the 65 cities that made the list, 15 are in China...
1 Shanghai
2 Beijing
6 Guangzhou
10 Shenzhen
16 Xiamen
17 Chengdu
18 Dalian
20 Tianjin
20 Nanjing
22 Hangzhou
23 Wuhan
24 Chongqing
25 Qingdao
26 Xian
27 Harbin
As you can see, four of the top 10 cities on the list were in China. Also in the top ten: Kuala Lumpur (fourth) and Bangkok (ninth).
Photo courtesy of iStockphoto, Loic Bernard
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Categories: China Investment News
Is the Canary Dead for Venture Capital?
TechCrunch ran a piece today on the ratio funds raised to invests with vs. economic value created by venture capital firms (measured by what VC companies have gotten back on exiting their investments).
They were looking at a recent presentation at Harvard Business School by Adeo Ressi the founder of the VC-rating site theFunded. Ressi's conclusion is that the VC model is broken. Ressi says that "the money going into VC funds is now more than the money coming out of VC funds." The first slide of his Harvard presentation puts it more bluntly: the canary is dead. Since I live in an area where coal mining takes place, I understand that figure of speech.
Ressi's 18-slide presentation is embedded at TechCrunch.
Photo courtesy of iStockphoto, Vinicius Ramalho Tupinamba
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They were looking at a recent presentation at Harvard Business School by Adeo Ressi the founder of the VC-rating site theFunded. Ressi's conclusion is that the VC model is broken. Ressi says that "the money going into VC funds is now more than the money coming out of VC funds." The first slide of his Harvard presentation puts it more bluntly: the canary is dead. Since I live in an area where coal mining takes place, I understand that figure of speech.
Ressi's 18-slide presentation is embedded at TechCrunch.
Photo courtesy of iStockphoto, Vinicius Ramalho Tupinamba
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Categories: China Investment News
Revolution Ventures Moving Into Beijing
U.S. venture capital fund Revolution Ventures plans to open a Beijing office "soon," according to Reuters.
The VC company wants to focus on the education and learning sectors in China and India, according to a company partner. Education in Asia has become a hot property for VC and PE firms because it's seen as recession proof by many analysts.
Revolution Ventures probably want confine itself solely to the education sector. The firm said ti will also dabble in entertainment, gaming, digital advertising and wireless sectors in the region.
Photo courtesy of iStockphoto, David Pedre
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The VC company wants to focus on the education and learning sectors in China and India, according to a company partner. Education in Asia has become a hot property for VC and PE firms because it's seen as recession proof by many analysts.
Revolution Ventures probably want confine itself solely to the education sector. The firm said ti will also dabble in entertainment, gaming, digital advertising and wireless sectors in the region.
Photo courtesy of iStockphoto, David Pedre
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Categories: China Investment News
Beijing's Stimulus Package a Flop?
The $586 billion stimulus package Beijing announced Sunday was a flop with the markets, at least. Seeking Alpha estimates that the effect of the stimulus package on the stock markets in China "lasted...err...about 12 hours."
After one day of stock market celebration in China, the bears are back in Shanghai and Hong Kong (as well as other markets). The FTSE was down today by 3.57%. Stocks in Singapore were down 4.14%. And Germany's DAX was down 5.25%
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After one day of stock market celebration in China, the bears are back in Shanghai and Hong Kong (as well as other markets). The FTSE was down today by 3.57%. Stocks in Singapore were down 4.14%. And Germany's DAX was down 5.25%
Photo courtesy of iStockphoto, Alex Slobodkin
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Categories: China Investment News
Pudong Will Get Its Own VC Firm
China Economic Review is reporting that Shanghai's Pudong district is going to get its own venture capital firm.
A government sponsored investment fund worth almost $300 million is going to focus on Pudong, with an emphasis on "fast-growing areas such as IT, modernized manufacturing and new energy." The planned fund will be created by the Shanghai Pudong Science and Technology Investment Co (backed by the City of Shanghai) and will be managed by Softbank China Venture Capital (part of Japan's Softbank Corp).
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A government sponsored investment fund worth almost $300 million is going to focus on Pudong, with an emphasis on "fast-growing areas such as IT, modernized manufacturing and new energy." The planned fund will be created by the Shanghai Pudong Science and Technology Investment Co (backed by the City of Shanghai) and will be managed by Softbank China Venture Capital (part of Japan's Softbank Corp).
Photo courtesy of iStockphoto, David Pedre
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Categories: China Investment News
PE Firms Invest Heavily in Education in Asia
PEHub reported last week on the growing investment in education that private equity firms seem to be making in Asia.
Because of the value that Asian society places on education, the sector is seen by many PE firms as recession-proof. British PE firm Actis was the lead investor in a $103 million deal with China's Ambow Education last month. South Korean PE firm The Riverside Co also invested in education this year when it spent $15 million to become the top shareholder in a preschool company called Wiz-Korea.
The PEHub article looks at a number of recent PE investments in education in Asia.
Photo courtesy of iStockphoto, Wendy Shiao
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Because of the value that Asian society places on education, the sector is seen by many PE firms as recession-proof. British PE firm Actis was the lead investor in a $103 million deal with China's Ambow Education last month. South Korean PE firm The Riverside Co also invested in education this year when it spent $15 million to become the top shareholder in a preschool company called Wiz-Korea.
The PEHub article looks at a number of recent PE investments in education in Asia.
Photo courtesy of iStockphoto, Wendy Shiao
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Categories: China Investment News
China Unveils Stimulus Package
A number of news sources (International Herald Tribune, Bloomberg, the WSJ) are reporting that China has unveiled $586 billion stimulus package that it hopes will bolster domestic demand and help avert a global recession.
This from the Wall Street Journal:Though the two-year package appeared to include some previously announced measures, its size was clearly designed to revive the fading confidence of Chinese businesses and consumers, and impress foreign governments.The WSJ went on to say that the plan includes spending in housing, infrastructure, agriculture, health care and social welfare, and features a tax deduction for capital spending by companies.
Asian stocks rallied in response to the plan.
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This from the Wall Street Journal:Though the two-year package appeared to include some previously announced measures, its size was clearly designed to revive the fading confidence of Chinese businesses and consumers, and impress foreign governments.The WSJ went on to say that the plan includes spending in housing, infrastructure, agriculture, health care and social welfare, and features a tax deduction for capital spending by companies.
Asian stocks rallied in response to the plan.
Photo courtesy of iStockphoto, Kyle Maass
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Categories: China Investment News
Apax Partners to Open Shanghai Office
A number of news sources (Reuters, Xinhua) are reporting that Apax Partners plans to open an office in Shanghai by the end of the year.
The Shanghai office would be the Private Equity firms first office in China.
According to Wikipedia, Apax Partners is "one of the oldest and largest private equity firms operating on an international basis, ranked the seventh largest private equity firm globally." They have nine offices now - in New York, London, Hong Kong, Mumbai, Tel-Aviv, Madrid, Stockholm, Milan and Munich.
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The Shanghai office would be the Private Equity firms first office in China.
According to Wikipedia, Apax Partners is "one of the oldest and largest private equity firms operating on an international basis, ranked the seventh largest private equity firm globally." They have nine offices now - in New York, London, Hong Kong, Mumbai, Tel-Aviv, Madrid, Stockholm, Milan and Munich.
Photo courtesy of iStockphoto, Izabela Habur
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Categories: China Investment News
Obama on China
"The basic framework of U.S. policy under an Obama administration will not fundamentally change," said Cui Liru, president of the China Institute of Contemporary International Relations, in Beijing today (according to Huffington Post writer Michael Standaert.
There's been a lot said about what an Obama Presidency would mean to U.S. China relations - particularly for our economic ties. Obama has at times sounded like a protectionist, willing to break ties with China and insulate the U.S. economy. He wants to see the Chinese currency, the yuan renminbi floated more freely and allowed to strengthen to something closer to its real value on world markets. But that alone is not protectionism; even the Bush Administration wanted that. Will Obama be more confrontational in his approach to China on the issue? Will he create tariffs for Chinese goods?
A number of writers, Standaert among them, have pointed out how much China and the U.S. have in common - like their desire to solve the current global financial crisis. Jocelyn Eikenburg (The Wu Way points out Obama's reputation for pragmatism and quotes Chinese sources as saying: "China is not a friend, nor an enemy. The Chinese are competitors."
I expect the same tensions that existed in U.S.-China relations under the Bush Administration to continue under President Obama. And my guess is that the new President will redouble some of the U.S. efforts for a more realistic currency exchange rate. But I personally don't expect things to change much...
© IowaPolitics.com
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There's been a lot said about what an Obama Presidency would mean to U.S. China relations - particularly for our economic ties. Obama has at times sounded like a protectionist, willing to break ties with China and insulate the U.S. economy. He wants to see the Chinese currency, the yuan renminbi floated more freely and allowed to strengthen to something closer to its real value on world markets. But that alone is not protectionism; even the Bush Administration wanted that. Will Obama be more confrontational in his approach to China on the issue? Will he create tariffs for Chinese goods?
A number of writers, Standaert among them, have pointed out how much China and the U.S. have in common - like their desire to solve the current global financial crisis. Jocelyn Eikenburg (The Wu Way points out Obama's reputation for pragmatism and quotes Chinese sources as saying: "China is not a friend, nor an enemy. The Chinese are competitors."
I expect the same tensions that existed in U.S.-China relations under the Bush Administration to continue under President Obama. And my guess is that the new President will redouble some of the U.S. efforts for a more realistic currency exchange rate. But I personally don't expect things to change much...
© IowaPolitics.com
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Categories: China Investment News
Intel Capital Invests in Three Chinese Companies
Last week Intel Capital invested in three different Chinese companies, according to Reuters.
Intel Capital is the investment arm of Intel Corp. According to Reuters, Intel Capital invested $20 million in Trony Solar Holdings Co and also "took undisclosed stakes in electricity storage specialist NP Holdings Ltd, and Viewhigh, a healthcare software firm."
Intel's Asia Pacific head, Cadol Cheung, told Reuters that the investment firm's new $500 million China technology fund had now invested in six mainland companies. About a third of Intel Capital's total investment is located in Asia.
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Intel Capital is the investment arm of Intel Corp. According to Reuters, Intel Capital invested $20 million in Trony Solar Holdings Co and also "took undisclosed stakes in electricity storage specialist NP Holdings Ltd, and Viewhigh, a healthcare software firm."
Intel's Asia Pacific head, Cadol Cheung, told Reuters that the investment firm's new $500 million China technology fund had now invested in six mainland companies. About a third of Intel Capital's total investment is located in Asia.
Photo courtesy of iStockphoto, Alexander Hafemann
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Categories: China Investment News
Southern China Losing Jobs
A recent report by Asia Pacific News says that at least 2.7 million factory workers in southern China could lose their jobs as the global economic crisis hits demand for electronics, toys and clothes.
The article says that there are 45,000 factories in Guangzhou, Dongguan, and Shenzhen and that 9,000 factories in those three cities alone are expected to close before the Chinese New Year in late January. Small and medium sized companies are being especially hard hit. But large manufacturers are not immune from layoff, according to the news report.
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The article says that there are 45,000 factories in Guangzhou, Dongguan, and Shenzhen and that 9,000 factories in those three cities alone are expected to close before the Chinese New Year in late January. Small and medium sized companies are being especially hard hit. But large manufacturers are not immune from layoff, according to the news report.
Photo courtesy of iStockphoto, Bartlomiej Magierowski
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Categories: China Investment News
Actis Puts $168 Million into 7 Dasy Inn, Ambow Education
TRENDSnIFF reported Friday that UK private equity inverstor Actis is leading an investment push into two China companies: 7 Days Inn and Ambow Education.
Other investors involved in the two deals include Warburg Pincus. Actis and Warburg Pincus announced a US$65 million investment in China's 7 Days Inn Group earlier this month. Actis joins Warburg Pincus, Merrill Lynch, and Deutsche Bank as stake holders in Shenzhen-based 7 Days Inn. The company is the 5th biggest budget hotel chain in China.
Actis also joined existing investors Avenue and Macquarie Group in having a stake in Ambow Education. That investment deal totaled $103 million for the Beijing-based education company. In October 2007, Ambow raised $54 million venture capital from Avenue, CID Capital, Cisco Systems and Macquarie Group.
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Other investors involved in the two deals include Warburg Pincus. Actis and Warburg Pincus announced a US$65 million investment in China's 7 Days Inn Group earlier this month. Actis joins Warburg Pincus, Merrill Lynch, and Deutsche Bank as stake holders in Shenzhen-based 7 Days Inn. The company is the 5th biggest budget hotel chain in China.
Actis also joined existing investors Avenue and Macquarie Group in having a stake in Ambow Education. That investment deal totaled $103 million for the Beijing-based education company. In October 2007, Ambow raised $54 million venture capital from Avenue, CID Capital, Cisco Systems and Macquarie Group.
Photo courtesy of iStockphoto, David Pedre
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Categories: China Investment News
Global Economic Slowdown Hitting China Hard
National Public Radio ran an interesting story this week on how the global economic slowdown is affecting China.
In the words of NPR reporter Louisa Lim:The export sector - which has driven 30 years of double-digit growth rates - is struggling badly.Lim focuses her report on Dongguan, a manufacturing hub in Guangdong Province between Guangzhou and Hong Kong. According to one factory manager there quoted by Lim:There's almost no profit. Raw materials have gone up, the cost of labor has gone up, inflation - everything's gone up except for the cost of the product.Lim also interviewed expat factory owners and Harley Seyedin, the president of the American Chamber of Commerce in South China.
The entire story is about five minutes long and you can listen to it here.
Photo courtesy of iStockphoto, Ronnie Comeau
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In the words of NPR reporter Louisa Lim:The export sector - which has driven 30 years of double-digit growth rates - is struggling badly.Lim focuses her report on Dongguan, a manufacturing hub in Guangdong Province between Guangzhou and Hong Kong. According to one factory manager there quoted by Lim:There's almost no profit. Raw materials have gone up, the cost of labor has gone up, inflation - everything's gone up except for the cost of the product.Lim also interviewed expat factory owners and Harley Seyedin, the president of the American Chamber of Commerce in South China.
The entire story is about five minutes long and you can listen to it here.
Photo courtesy of iStockphoto, Ronnie Comeau
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Categories: China Investment News
Taobao Gets $732 Million Shot in the Arm from Alibaba
Alibaba is investing $732 million in Chinese ecommerce site Taobao, according to The Inquisitr.
According to the Inquisitr:Taobao has created an e-commerce ecosystem consisting of 80 million users, over 1 million sellers, and 200 million items for Chinese consumers to select from. The new funding, spread over five years, will be used to build a more advanced platform for merchants, while continuing to offer its services for free to buyers and individual sellers.So fram the global economic downturn looks more like an opportunity than a problem for Alibaba. They've hired 4,000 new employees recently...
Photo courtesy of iStockphoto, zhang bo
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According to the Inquisitr:Taobao has created an e-commerce ecosystem consisting of 80 million users, over 1 million sellers, and 200 million items for Chinese consumers to select from. The new funding, spread over five years, will be used to build a more advanced platform for merchants, while continuing to offer its services for free to buyers and individual sellers.So fram the global economic downturn looks more like an opportunity than a problem for Alibaba. They've hired 4,000 new employees recently...
Photo courtesy of iStockphoto, zhang bo
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Categories: China Investment News
For a While, No More IPOs in China...
China Briefing News and The Edge Daily both reported on Friday that the China Securities Regulatory Commission has stopped looking at IPO applications in an effort to boost stock prices.
The move is not unprecedented. China suspended IPOs for a full year in 2005-2006. The CSRC stopped reviewing applications back on September 16. We'll see how long it lasts this time. In the meantime, VCs and PEs can bite the bullet, I guess, and wait until later for exits...
Photo courtesy of iStockphoto, Tor Lindqvist
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The move is not unprecedented. China suspended IPOs for a full year in 2005-2006. The CSRC stopped reviewing applications back on September 16. We'll see how long it lasts this time. In the meantime, VCs and PEs can bite the bullet, I guess, and wait until later for exits...
Photo courtesy of iStockphoto, Tor Lindqvist
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Policy Reforms & China IPOs: Analysis & Forecast - 20 July 2006
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Categories: China Investment News
Kunda Technology Floats IPO in Singapore
Shenzhen-based Kunda Technology has announced an IPO on Singapore 's stock exchange. The IPO share price is 21.5 cents. The new shares will represent about 21 percent of Kunda Technology's enlarged share capital of 320 million shares, according to The Business Times in Singapore.
China Kunda Technology makes precision moulds and plastic injection parts. The company had postponed an earlier IPO. It hopes to using the funds raise to about US$8 million to pay for business acquisitions, investment in new plant and production facilities, and for research & development.
Singapore IPOs gave some financial details on the company. According to them, unaudited 9 months sales for 2008 are HK$76.55m and profit after tax is HK$39.448m. That puts projected full year profit at about HK$102m and net projected profit for the year around HK$52.6m. An IPO price of 21.5 cents means the EPS is valued at 7x PE.
Singapore IPOs also had this to say about the offering:Frankly, under such economic climate, i cant foresee the company to do better in 2009 than in 2008, perhaps that is one reason why it has to list NOW instead of postponing the IPO.Trading starts October 9th.
Photo courtesy of iStockphoto, Peter Seager
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China Kunda Technology makes precision moulds and plastic injection parts. The company had postponed an earlier IPO. It hopes to using the funds raise to about US$8 million to pay for business acquisitions, investment in new plant and production facilities, and for research & development.
Singapore IPOs gave some financial details on the company. According to them, unaudited 9 months sales for 2008 are HK$76.55m and profit after tax is HK$39.448m. That puts projected full year profit at about HK$102m and net projected profit for the year around HK$52.6m. An IPO price of 21.5 cents means the EPS is valued at 7x PE.
Singapore IPOs also had this to say about the offering:Frankly, under such economic climate, i cant foresee the company to do better in 2009 than in 2008, perhaps that is one reason why it has to list NOW instead of postponing the IPO.Trading starts October 9th.
Photo courtesy of iStockphoto, Peter Seager
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Categories: China Investment News
America's China Addiction: Time to Kick It?
Hats off to Richard Brubaker over at his blog, All Roads Lead to China, for pointing out this Financial Times article. If you enjoy understanding the big picture, the piece is insightful...
The author of the Financial Times article, David Piling, says that in a conversation about America's economic woes he asked a Chinese official recently if America hung itself "with Asian rope?" The Chinese official's response: "No. It drowned itself in Asian liquidity."
What do you call someone who makes $40,000 a year and spends $55,000 a year? Answer: an American. What do you call someone who makes $25,000 a year and still manages to save $8,500 each year? Answer: Chinese.
We may not be able to trust China's economic data. We may not be sure what we're getting when we buy Chinese stuff. But we do know this much for sure: China has money. Hard cash. It's just laying around, waiting to be invested in something. And (just like the Japanese) they've been loaning it to us under the Bush Administration. Brubaker's quote of the FT article sums it up well:In one sense, this is a story of Asian prudence versus US recklessness. By accumulating vast savings - China and Japan alone boast 40 per cent of global central bank reserves - Asians have lived below their means so that Americans could live beyond theirs. Asia bankrolled US budget and trade deficits and provided the cash for banks and individuals to go on a spending spree and for Washington to fight wars in Afghanistan and Iraq.Of course the problem is obvious (at least to Target and Wal-mart). If that guy making $40,000 a year in, say, Atlanta or Phoenix stops spending an extra $15,000 each year, sales go down at retailers. Then people get laid off and we start calling it a recession. But everybody knows we can't keep spending more than we make forever.
Bottom line: we're addicted to money. The Chinese and Japanese have been supplying us with it. We can't keep it up forever. But if we decide to wean ourselves off of it, withdrawal will probably be a bitch...
Photo courtesy of iStockphoto, David Joyner
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The author of the Financial Times article, David Piling, says that in a conversation about America's economic woes he asked a Chinese official recently if America hung itself "with Asian rope?" The Chinese official's response: "No. It drowned itself in Asian liquidity."
What do you call someone who makes $40,000 a year and spends $55,000 a year? Answer: an American. What do you call someone who makes $25,000 a year and still manages to save $8,500 each year? Answer: Chinese.
We may not be able to trust China's economic data. We may not be sure what we're getting when we buy Chinese stuff. But we do know this much for sure: China has money. Hard cash. It's just laying around, waiting to be invested in something. And (just like the Japanese) they've been loaning it to us under the Bush Administration. Brubaker's quote of the FT article sums it up well:In one sense, this is a story of Asian prudence versus US recklessness. By accumulating vast savings - China and Japan alone boast 40 per cent of global central bank reserves - Asians have lived below their means so that Americans could live beyond theirs. Asia bankrolled US budget and trade deficits and provided the cash for banks and individuals to go on a spending spree and for Washington to fight wars in Afghanistan and Iraq.Of course the problem is obvious (at least to Target and Wal-mart). If that guy making $40,000 a year in, say, Atlanta or Phoenix stops spending an extra $15,000 each year, sales go down at retailers. Then people get laid off and we start calling it a recession. But everybody knows we can't keep spending more than we make forever.
Bottom line: we're addicted to money. The Chinese and Japanese have been supplying us with it. We can't keep it up forever. But if we decide to wean ourselves off of it, withdrawal will probably be a bitch...
Photo courtesy of iStockphoto, David Joyner
See full article.
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Categories: China Investment News
Investing in China Still Option Number One
Money Morning's Jason Simpkins had a heartening article late last month - heartening, at least, if you're still investing in China...
The article is a detailed look at the condition of China's economy: exports, retail sales, industry, stock markets, etc. Among his sources, Simpkins quotes Jing Ulrich, JPMorgan Chase & Co.'s chairwoman of China equities:"Our outlook for consumption growth remains broadly positive. As China's government attempts to move from export-dependent growth, we expect that additional resources will be pledged to support domestic consumption."Simpkins draws the conclusion that China is still the best long term investment available in the world of emerging markets.
Photo courtesy of iStockphoto, Alex Slobodkin
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The article is a detailed look at the condition of China's economy: exports, retail sales, industry, stock markets, etc. Among his sources, Simpkins quotes Jing Ulrich, JPMorgan Chase & Co.'s chairwoman of China equities:"Our outlook for consumption growth remains broadly positive. As China's government attempts to move from export-dependent growth, we expect that additional resources will be pledged to support domestic consumption."Simpkins draws the conclusion that China is still the best long term investment available in the world of emerging markets.
Photo courtesy of iStockphoto, Alex Slobodkin
See full article.
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Categories: China Investment News
