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China/Asia On Demand
Journal Articles
Laws/Policies/Regulations
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market watch
Pages: 42-43
Year: Issue:  19
Journal: Beijing Review

Abstract: In April, the Chinese stock market continuously broke record highs, leaving many doubting the sustainability of stock prosperity. However, first-quarter reports from 941 of the Shanghai and Shengzhen listed A-share companies show profits up 100 percent compared with a year ago. These figures are driving the fast development of the Chinese stock market and reassuring investor confidence. In sharp contrast with investor confidence in the stock market, the Chinese central bank is being extremely cautious about the volatile market and excessive liquidity. For the fourth time this year, the central bank lifted the reserve requirement ratio by another 0.5 percent, up to 11 percent, in an effort to cool the supposedly overheating economy. There’s good news for multinationals. They will be allowed to conduct internal foreign exchange trade in the next few months, thanks to an ease on restrictions by the Chinese foreign exchange watchdog. To achieve balanced development, the government is determined to launch the large-scale development of central China, building new airports and attracting more businesses to boost the economy there. Regarding the IT industry, Huawei Technologies is the biggest winner, having sold 29.778 billion yuan worth of software, followed by ZTE.
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