久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

US EUROPE AFRICA ASIA 中文
Business / View

The paradox of China's stock market

(Xinhua) Updated: 2012-11-29 17:23

BEIJING - Although the Chinese economy has shown strong signs of stabilizing, the key Shanghai stock index opened at its lowest point in nearly four years on Thursday.

Experts have attributed the paradox mainly to an imbalance in supply and demand on the stock market, a seasonal cash crunch toward the year's end and systemic flaws that make it difficult for the stock market to fully reflect the economy.

The benchmark Shanghai Composite Index slid 0.89 percent to end at 1,973.52 on Wednesday, the lowest level since January 19, 2009.

Chinese stocks opened even lower on Thursday, with the benchmark Shanghai Composite Index opening at 1,972.93, down 0.03 percent from the previous close.

Stocks and gap tell different stories

The Shanghai Composite Index opened at a nearly four-year low despite China's fast-growing economy, surging consumer affluence and rising global clout that has been hard for investors to ignore recently.

The Shanghai index has tumbled 43 percent over the past three years and is down 64 percent from its peak in early 2008, according to media reports.

Although China's economy grew by 7.4 percent year-on-year in the third quarter of 2012, slowing for the seventh consecutive quarter and down from 7.6 percent in the second quarter and 8.1 percent in the first, it is still leading the world's economies in terms of gross domestic product growth.

The growth rate of China, the world's second-largest economy, is expanding by about four times that of the United States.

China set its annual growth target at 7.5 percent this year. The National Development and Reform Commission, China's top economic planner, said on the sidelines of the national congress held earlier this month that the country is on track to achieve this target.

The HSBC said earlier this month that its Flash China Manufacturing Purchasing Managers' Index bounced back to expansionary territory for the first time in 13 months to stand at 50.4 in November, indicating that the Chinese economy is gaining momentum.

What's hebind the market retreat?

China's stocks are not just "a bear market," said Hua Sheng, a well-known Chinese economist, noting that the problems lie mainly in an apparent imbalance between supply and demand as well as in the basic market system.

In regards to the recent tumble, other analysts have also cited a weak outlook for corporate earnings and an expected seasonal cash crunch toward the year's end.

It seems strange that a number of enterprises are lining up to enter the Chinese stock market despite its bearish performance and many investors waiting for their chance to cash out, said Hua, the economist.

Investors have been jittery about a growing number of companies waiting to get a greenlight to list, which would further strain market liquidity.

According to data from the China Securities Regulatory Commission, a total of 808 companies were applying to launch initial public offerings as of Nov 22 this year, with a gross fundraising volume of more than 500 billion yuan ($80 billion).

When the supply of shares exceeds demand, the price will decline -- music that must be faced by both the regulator and investors, Hua noted.

One efficient way to resolve the imbalance is to lift the threshold for listing, said Hua, adding that market entrance standards should be made by taking both the profit and the scale of enterprises into consideration, while companies that have a tendency to blindly restructure assets after listing should be restricted.

As China's main stock market continues to fall, fewer companies have been permitted to launch IPOs. A total of 105 companies went public in the first half of this year, but the number of IPOs has dropped sharply to 50 so far in the second half of the year.

"The good days have passed for Chinese investors who have long looked to IPOs as a decent investment that could provide outsized returns to lift portfolios," said an investor surnamed Cao.

"Systemic flaws, such as a less market-oriented IPO mechanism, make it hard for the stock market to fully reflect a rebound in the economy," Zhang Gang, an analyst at Central China Securities, said, as quoted by the Wall Street Journal.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    日韩电影在线免费看| 国产黄色精品视频| 欧美一三区三区四区免费在线看| 日本视频在线一区| 久久人人超碰精品| youjizz久久| 一区二区欧美国产| 91精品国产综合久久精品app| 日本vs亚洲vs韩国一区三区二区| 久久免费的精品国产v∧| 成人福利视频在线| 亚洲成人中文在线| 精品国产一区二区三区不卡 | 国产高清无密码一区二区三区| 国产精品伦理一区二区| 欧美这里有精品| 美女被吸乳得到大胸91| 中文字幕免费一区| 欧美午夜精品一区二区蜜桃| 另类小说欧美激情| 国产精品久久久久久久久免费桃花| 在线观看日韩电影| 精品一区二区三区免费毛片爱| 国产精品色婷婷久久58| 欧美日本在线观看| 韩国av一区二区三区四区| 最新热久久免费视频| 51精品视频一区二区三区| 粉嫩av一区二区三区粉嫩| 亚洲va韩国va欧美va| 久久久久久久久久久电影| 日本伦理一区二区| 九色综合狠狠综合久久| 亚洲美腿欧美偷拍| 日韩欧美的一区| 色婷婷综合久久| 国内精品伊人久久久久av一坑| 亚洲最新在线观看| 久久精品亚洲一区二区三区浴池| 欧美日韩视频在线一区二区 | 欧美性欧美巨大黑白大战| 精品一二三四区| 一区二区三区在线不卡| 久久综合国产精品| 欧美日韩中文字幕精品| 成人午夜电影网站| 麻豆精品久久精品色综合| 亚洲女同一区二区| 久久美女艺术照精彩视频福利播放| 欧美日韩一区二区三区四区| 高清免费成人av| 免费的成人av| 亚洲最新视频在线播放| 亚洲国产精品成人综合| 欧美一级二级三级乱码| 色激情天天射综合网| 国产成人av福利| 日韩电影在线看| 一区二区三区四区视频精品免费 | 久久午夜免费电影| 欧美日韩色综合| 97久久久精品综合88久久| 国产做a爰片久久毛片| 婷婷中文字幕一区三区| 亚洲人xxxx| 欧美韩日一区二区三区| 欧美大尺度电影在线| 欧美日韩在线免费视频| 91香蕉视频污| 成人一级视频在线观看| 久久se这里有精品| 日韩av网站在线观看| 亚洲在线视频网站| 亚洲婷婷国产精品电影人久久| 久久精品人人做人人爽人人| 日韩午夜电影在线观看| 欧美日韩国产小视频在线观看| 91视频xxxx| 成人av电影在线播放| 国产高清亚洲一区| 国产一区二区三区四区五区入口 | 国产美女在线精品| 久久99精品一区二区三区| 婷婷成人综合网| 五月综合激情日本mⅴ| 一个色妞综合视频在线观看| 日韩毛片在线免费观看| 中文字幕电影一区| 日本一区二区动态图| 久久精品男人的天堂| 精品99一区二区三区| 欧美成人精品1314www| 日韩精品一区二区三区老鸭窝| 欧美一区午夜视频在线观看| 56国语精品自产拍在线观看| 欧美日韩亚洲另类| 欧美日韩国产美| 欧美日韩亚洲综合在线 | 美女一区二区视频| 青青青爽久久午夜综合久久午夜 | av电影天堂一区二区在线| 国产成人三级在线观看| 国产福利一区二区三区在线视频| 国产九九视频一区二区三区| 国产精品1024| 成人丝袜视频网| 99麻豆久久久国产精品免费| 99精品视频一区| 91免费观看在线| 在线这里只有精品| 欧美日韩色综合| 欧美一二三区在线| 精品国内二区三区| 国产亚洲精品资源在线26u| 国产欧美视频一区二区| 国产精品久久久久影视| 日韩理论片中文av| 亚洲一区成人在线| 日韩精品久久久久久| 久热成人在线视频| 国产不卡在线视频| 一本到三区不卡视频| 欧美午夜精品免费| 欧美一区二区国产| 久久久久久久久久久电影| 国产精品乱子久久久久| 一区二区在线观看免费| 午夜精品福利久久久| 久久精品国产精品青草| 国产精品一区免费视频| a级高清视频欧美日韩| 欧美这里有精品| 日韩视频免费观看高清在线视频| 久久蜜臀精品av| 亚洲日本va在线观看| 亚洲第一福利视频在线| 久久超级碰视频| 成人深夜福利app| 欧美日韩一区二区三区视频| 欧美一卡二卡三卡| 欧美激情一区二区在线| 亚洲在线视频网站| 精品系列免费在线观看| av亚洲精华国产精华| 在线成人免费观看| 久久老女人爱爱| 亚洲乱码中文字幕| 免费久久99精品国产| 成人午夜免费av| 88在线观看91蜜桃国自产| 久久精品一区二区三区不卡| 一区二区欧美国产| 极品少妇一区二区三区精品视频| 不卡av免费在线观看| 9191成人精品久久| 欧美国产成人在线| 视频一区二区欧美| 岛国av在线一区| 欧美人与z0zoxxxx视频| 国产网站一区二区三区| 亚洲国产日韩一级| 国产精品一区二区不卡| 欧美性受xxxx黑人xyx性爽| 久久久五月婷婷| 亚洲国产日韩a在线播放| 国产精品一区2区| 欧美在线影院一区二区| 久久久久久久久久电影| 午夜视频一区二区三区| 成人精品视频一区二区三区 | 久久精品综合网| 午夜精品久久久| 99在线热播精品免费| 日韩免费在线观看| 亚洲男人都懂的| 国产福利一区在线| 欧美一三区三区四区免费在线看| 最新热久久免费视频| 国产一区二区女| 欧美日韩的一区二区| 国产精品白丝在线| 久久99精品国产.久久久久久| 在线精品视频免费观看| 中文子幕无线码一区tr| 美日韩一级片在线观看| 欧美视频在线播放| 日本一区二区久久| 国产真实乱对白精彩久久| 欧美喷潮久久久xxxxx| 亚洲人一二三区| 粉嫩一区二区三区性色av| 日韩视频一区二区| 午夜精品久久久久久久99樱桃| av一二三不卡影片| 久久久99久久| 久久精品国产99| 欧美精品成人一区二区三区四区| 亚洲欧美另类久久久精品| 国产不卡免费视频| 精品国产91亚洲一区二区三区婷婷|