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TO THE POINT: Although China’s stock market tanked on February 27, with the Shanghai Composite Index dropping 9 percent in a single day, it’s still too soon to tell whether this year of the pig will attract a bear or bull as its financial mate. Here’s what is known: China Premier Wen Jiabao expects GDP to grow at 8 percent this year, which would be a major decline from last year but obviously still strong And Chinese blue chip companies are still looking for ways to list back home, like CNOOC. Shanghai is also looking to open its stock exchange to Hong Kong investors, and let’sface it, when China opens up anything, business usually comes rushing in. The running of the bulls in China hasn’tbeen cancelled yet, even if some see thunderstorms in the financial forecast. In other news, China is getting tough on domestic automakers, Sinopec is planning big expansions,Baotou Iron and Steel isn’t, and stock index futures are in the works in China.
TO THE POINT: Although China’s stock market tanked on February 27, with the Shanghai Composite Index dropping 9 percent in a single day, it’s still too soon to tell whether this year of the pig will attract a bear or bull as its financial mate. Here’s what is known: China Premier Wen Jiabao expects GDP to grow at 8 percent this year, which would not a major decline from last year yet obviously strong And Chinese blue chip companies are still looking for ways to list back home, like CNOOC. Shanghai is also looking to open its stock exchange to Hong Kong investors, and let’sface it, when China opens up anything, business usually comes rushing in. The running of the bulls in China has not yet canceled yet, even if some see thunderstorms in the financial forecast. In other news, China is getting tough on domestic automakers, Sinopec is planning big expansions, Baotou Iron and Steel is not, and stock index futures are in the works in China.