15 June 2009 | China Economic Scan

15-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: Soros says China is recovering fast from the crisis, foreign trade in Guangdong falls in May, Tengzhong communicating with regulator on Hummer deal, Ping An to acquire stake in Shenzhen bank for $3.2bln, Chinese stocks in the US fall the most in a week on share sale concerns.

Top 5 headlines

George Soros: China is recovering fast from crisis

• George Soros, chairman of Soros Fund Management, said Saturday he has confidence in China's economy and believes it is recovering fast from the economic downturn.
• "Its financial institutions are largely unaffected," Soros said, noting that with a good balance sheet, China was poised to balance its external accounts and in position to engage in stimulus investments. But Soros also pointed out that China's exports had been adversely affected. "China is dependent on exports, which have a high proportion in GDP."
• Soros made the remarks in an interview with Xinhua after meeting with Chen Feng, chairman of China's HNA Group. Soros has invested $50 million into Hainan Airlines, a subsidiary of the group.

Trade recovery fragile in Guangdong

• Guangdong province, which ranks first in foreign trade among provincial-level regions, recorded a decline rate in external trade lower than the national average in the first five months of this year.
• According to local customs data released Saturday, Guangdong's foreign trade volume stood at $208.52 billion between January and May, a decline of 21.8% from the same period of last year.
• The total included $125.39 billion in export value, down 18.5%, and $83.13 billion in import value, down 26.3%.

Tengzhong ‘Communicating’ With Regulator on Hummer

• Sichuan Tengzhong Heavy Industrial Machinery Co. is “communicating” with Chinese regulators about plans to buy General Motors Corp.’s Hummer sports utility vehicle brand after reports said the deal may be blocked.
• “It’s up to the government” whether the transaction will be approved, Chief Executive Officer Yang Yi said in an interview in Beijing today, without elaborating. “We respect the regulatory process.”
• Tengzhong said on June 2 that it had agreed to buy Hummer from bankrupt GM in a deal that would save more than 3,000 U.S. jobs. Still, regulators are unlikely to approve the plan as China wants companies to buy overseas parts makers instead of automakers.

Ping An to Acquire Stake in Shenzhen Bank for $3.2 Billion

• Ping An Insurance, shifting its focus to the Chinese market after losing $3.3 billion on an investment in Fortis, plans to buy a 22 billion yuan ($3.2 billion) stake in Shenzhen Development Bank.
• Ping An, China’s second-largest insurer, agreed to purchase as many as 585 million new shares from Shenzhen Development for 10.7 billion yuan, or 18.26 yuan apiece, it said. Ping An will also buy 520.4 million shares from Newbridge Capital LLC, the Asian unit of TPG, for about 11.45 billion yuan.
• “This is a good deal for both parties as they have a lot of resources to share, including customers, products and franchises,” said Xu Shoude of China Jianyin Investment Securities “While Ping An has a great ambition for its banking operation, it knows that the unit can’t grow fast enough without acquisitions.”

China Stocks in U.S. Fall Most in a Week on Share Sale Concerns

• Chinese stocks trading in the U.S. fell the most in a week as the prospect of new share sales in the mainland overshadowed better-than-expected economic reports.
• The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, declined -2% to 361.23, paring a weekly advance to +0.6%. The gauge has rallied 28% this year.
• “You may be seeing some investors take some money off the table because of the prospect of some big IPOs,” said Jeff Papp, senior analyst at Lisle, Illinois-based Oberweis Asset Management Inc., which manages $700 million including China stocks.

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,890
Shanghai Composite	2,744
Shenzhen Component	10,524
TAIEX	6,448
CNY/USD	6.8351

Source: China Economic Scan

China Economic Scan Weekly Economic Review - 13 June 2009

China Economic Scan Weekly Economic Review - 13 June 2009

13/06/2009. Source: China Economic Scan. Callum Thomas, Managing Director, China Economic Scan

In the past week there were a range of important data releases that have painted an interesting picture of the Chinese economy. New lending, M2, CPI, urban fixed asset investment, exports and imports, and car sales were among the data released.

New loans jumped to 664.5 billion yuan ($97 billion) from 318.5 billion yuan a year earlier, the central bank said. M2, the broadest measure of money supply, rose 25.7% in May from a year earlier, the central bank said, after a record 26% gain in April.

Urban fixed-asset investment climbed 32.9% in the 5 months to the end of May from a year earlier, the statistics bureau said. Urban fixed-asset investment in the first five months was 5.35 trillion yuan. The increase in spending was faster than the 30.5% gain in the first four months and analyst estimates of 31%.

May exports fell by a record 26.4% from the same month of 2008, and imports were down 25.2%. Despite the year-on-year import decline, demand for foreign raw materials is rising as Beijing's stimulus spending takes hold, analysts said. The value of imports fell even as volume rose because of a 30-50% drop in the price of oil and other commodities from last year's highs, which cut China's import bill.

CPI dropped 1.4% in May from a year earlier, after falling 1.5% in April, the National Bureau of Statistics (NBS) said. Analyst estimates were for a 1.3% decline. Producer prices fell 7.2%, the most on record.

Property sales rose 45.3% to 1 trillion yuan ($146 billion) in the first five months of 2009 from a year earlier and real-estate investment growth quickened to 6.8%, the National Bureau of Statistics said. The China Se Shang Property Index is up about 116% this year.

China vehicle sales surged 34% in May on tax cuts and government subsidies, extending the country’s lead over the U.S. as the world’s largest auto market this year. Chinese drivers bought 1.12 million vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Passenger-vehicle sales jumped 47% to 829,100.

The Chinese government raised tax rebates for more than 600 export items, some up to the maximum level possible. The Ministry of Finance said yesterday that it had increased tax rebates ranging from 5% to 17% on export products, including ethanol, toys and sewing machines, effective June 1. The export tax rebate scheme allows enterprises to get back part or all of the money they have paid in value-added tax, which stands at up to 17%, for items that have gone into the production of export goods. China Economic Scan is a leading provider of daily updates on the Chinese economy and financial markets. China Economic Scan focuses on bringing you the facts from the hundreds of articles that compete for your attention each day. You save time and due to our willingness to probe further and add value with additional facts and research; you get an edge in staying on top of the key developments in the world’s 3^rd largest economy. For more info visit www.chinaeconomicscan.com

http://www.chinaeconomicscan.com/weekreview13june09econ.html

13 June 2009 | China Economic Scan

13-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: China doubles new lending and increases industrial output, China investors expect a correction, Sanyuan sales surge after absorption of Sanlu, Minmetals snaps up Aussie miner, Chinese mainland stocks fall on Friday.

Top 5 headlines

China New Lending Doubles, Industrial Output Quickens

• New loans jumped to 664.5 billion yuan ($97 billion) from 318.5 billion yuan a year earlier, the central bank said today.
• Industrial-output growth accelerated to 8.9 percent and sales rose 15.2%, the statistics bureau said.
• M2, the broadest measure of money supply, rose 25.7% in May from a year earlier, the central bank said today, after a record 26% gain in April.

China Investors Expect ‘Correction,’ CLSA’s Wood Says

• China’s investors expect a “correction” in the stock market, which will “tread water” in coming months as companies resume initial share sales, CLSA Ltd.’s Christopher Wood said.
• The brokerage reduced the portion of Chinese shares in its model portfolio because it expects “considerable resistance” to further gains in the Shanghai Composite Index, Wood said in his “Greed & Fear” research note dated yesterday, recommending that investors move money into Malaysia.
• “Local investors expect considerable resistance and a correction sooner or later” as the gauge reaches the 2,800 to 3,000 range, said Wood, the top-ranked Asian strategist in the 2008 Institutional Investor survey.

Sanyuan reports sales surge after takeover of Sanlu

• Hebei Sanyuan, the dairy firm that bought most of the assets of the Sanlu Group, China's largest milk powder producer before its bankruptcy in the melamine contamination scandal, on Friday reported sales in May equal to total of the first four months.
• Gao Qingshan, general manager of Hebei Sanyuan, said the firm's revenue in May hit 70 million yuan ($10.26 million).
• "Our daily milk powder output reached 24 tons, or 80% of the total production ability of Sanlu's former factories, and the daily output of liquid milk amounted to 300 tons, 65% of production ability. Production will be further expanded based on market response," he said.

Nimble-footed Minmetals snaps up Aussie miner

• A leading Chinese non-ferrous metal company yesterday won approval for its acquisition of a top Australian miner - only days after China's dominant aluminum company was thwarted in its bid for a bigger stake in another Australian miner.
• China Minmetals Non-ferrous Metals Co Ltd (Minmetals) was dexterous in its dealing with OZ Minerals Ltd, setting an example for Chinese enterprises investing in overseas resources, experts said.
• Minmetals acted quickly to raise its offer for OZ's assets from $1.21 billion to $1.39 billion, responding to increasing domestic and international metal prices in recent months, showing more flexibility than seen in the aborted deal between Aluminum Corp of China (Chinalco) and Rio Tinto.

Hong Kong Stocks Climb as China Data Outweighs IPO Concerns

• Mainland stocks continued their fall on Friday with Shanghai down -1.91% to 2,744, Shenzhen down -1.64% 10,524, and Taiwan down -1.81% to 6,448; Hong Kong gained up +0.52% at 18,890.
• Aluminum Corp. of China Ltd., the publicly traded unit of the nation’s biggest producer of the metal, surged +3.5%, while China Construction Bank Co. rose +2.9% after industrial production, bank lending and retail sales all climbed.
• China Mobile dropped -1.9%, leading declines among some of the largest listed companies after 21st Century Business Herald, a newspaper, said the securities regulator will approve restarting initial public offerings as early as this weekend.

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,890	98.65	0.52%
Shanghai Composite	2,744	-53.56	-1.91%
Shenzhen Component	10,524	-175.78	-1.64%
TAIEX	6,448	-119.14	-1.81%
CNY/USD	6.8351	-0.001	-0.01%

Source: China Economic Scan

12 June 2009 | China Economic Scan

12-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: Chinese urban fixed-asset investment climbs further in May, China's May exports plunge 26.4%, Chinese car sales surge resulting in 2-month waiting lists, CICC beats Goldman Sachs in Asian bonds, Chinese stocks close down on Thursday.

Top 5 headlines

Chinese Investment Surges, Countering Record Export Slump

• China’s spending on factories, property and roads surged by the most in five years as the government’s 4 trillion yuan ($585 billion) stimulus package countered a record slump in exports.
• Urban fixed-asset investment climbed 32.9% in the 5 months to the end of May from a year earlier, the statistics bureau said today in Beijing.
• Urban fixed-asset investment in the first five months was 5.35 trillion yuan. The increase in spending was faster than the 30.5% gain in the first four months and the 31% median estimate of 16 economists surveyed by Bloomberg News.

China's May exports plunge 26.4%

• May exports fell by a record 26.4% from the same month of 2008, while imports were down 25.2%, the customs agency reported Thursday.
• Despite the year-on-year import decline, demand for foreign raw materials is rising as Beijing's stimulus spending takes hold, analysts said.
• They said the value of imports fell even as volume rose because of a 30 to 50% drop in the price of oil and other commodities from last year's highs, which cut China's import bill.

China Car Sales Jump ‘Beyond Imagination,’ Bring Two-Month Wait

• Beijing drivers, used to leaving showrooms with new cars the same day, now have to wait about three weeks for a Hyundai Motor Co. Yuedong Elantra, China’s bestselling car, or as long as eight weeks for a Honda Motor Co. CR-V sport-utility vehicle.
• Carmakers failed to predict a 14% sales jump caused by an economic rebound, tax cuts and subsidies and are now trying to raise Chinese output even as they cut U.S. and European production on plunging sales.
• “We are having headaches and shortages because the automaker can’t make enough Yuedongs,” said Li Minghui, a salesman at dealership Beijing Hyundai Boshishan. “We expected sales to pick up at the beginning of this year, but it’s beyond our imagination that it would be this good.”

CICC Beats Goldman as China Banks Join Top Ranks in Asia Bonds

• China’s banks, the world’s largest by stock market value, are starting to beat Western financial companies in underwriting Asian bonds as the government turns to capital markets to stimulate the economy.
• China International Capital, Morgan Stanley’s partner, Industrial & Commercial Bank of China and Bank of China penetrated the ranks of the top 10 bond firms in the region. They led underwriters with $39 billion of debt sales this year, or 12% of the total in the Asia-Pacific region, according to data compiled by Bloomberg.
• Beijing-based China International was the main securities firm in Chinese sales of $92 billion this year, almost five times the total of a year earlier.

Chinese shares down 0.67% on trade data, IPO shift

• Chinese stocks fell on Thursday with the Shenzhen Component down -1.12% to 10,700, the Shanghai Composite down -0.67% to 2,797, the Hang Seng edged sideways +0.03% to 18,791.
• "The new foreign trade data undermined investors' confidence," said Qin Xiaobin, a senior equity strategy analyst, Galaxy Securities. Further, news that China's securities regulator was ready to end de facto suspension of IPOs on Shanghai and Shenzhen stock exchanges also hurt stocks, Qin said.
• China Vanke, the largest property developer by market value, lost -2.94% to 10.89 yuan. China Merchants Real Estate shed -2.32% to close at 27.4 yuan.

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,791	5.37	0.03%
Shanghai Composite	2,797	-18.93	-0.67%
Shenzhen Component	10,700	-120.83	-1.12%
TAIEX	6,567	105.10	1.63%
CNY/USD	6.8361	0.0031	0.05%

Source: China Economic Scan

11 June 2009 | China Economic Scan

11-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: China CPI falls 1.4% in May, Fidelity's Ma says China's economic growth may beat predictions, China's property sales surge, Baosteel hikes July steel prices, Chinese stocks closed up on Wednesday.

Top 5 headlines

China’s Consumer Prices Decline 1.4%, Aiding Recovery

• Prices dropped 1.4% in May from a year earlier, after falling 1.5% in April, the National Bureau of Statistics (NBS) said.
• The median estimate in a Bloomberg News survey of 16 economists was for a 1.3% decline. Producer prices fell 7.2%, the most on record.
• “China’s economy is already rebounding and as soon as it regains momentum, prices will return to positive territory,” said Sherman Chan, an economist with Moody’s Economy.com in Sydney.

Fidelity’s Ma Says China’s Economic Growth May Beat Predictions

• China’s economic outlook is the “brightest” in Asia and growth may exceed investor expectations, Fidelity International fund manager Stephen Ma said.
• The nation’s economy will expand 7.5% this year, according to economists surveyed by Bloomberg News last month, up from a 7.1% forecast in February.
• “China has done all the right things to support the domestic economy,” Ma said. “I believe China’s GDP growth will continue to surprise people on the upside.” Fidelity International is the London-based affiliate of Fidelity Investments, the world’s largest mutual- fund company.

China’s Property Sales Surge, Add to Recovery Signs

• Sales rose 45.3% to 1 trillion yuan ($146 billion) in the first five months of 2009 from a year earlier and real- estate investment growth quickened to 6.8%, the National Bureau of Statistics said.
• “As developers run down inventory rapidly, they will soon start to buy land and increase spending again,” said Frank Gong, chief China economist and strategist at JPMorgan Chase & Co. in Hong Kong. “Property investment, which accounts for 10% of China’s GDP and is a trigger for growth in related sectors, will become a strong driving force in China’s recovery.”
• The China Se Shang Property Index fell -1.6%, paring this year’s gain to +116%.

Baosteel hikes July steel prices as pressure mounts

• China's top steelmaker, Baosteel, has raised July prices for major steel product prices by more than 10%, industry sources said, as it faces the threat of higher-than-expected iron ore costs.
• Baosteel, or Baoshan Iron and Steel, is deep in talks with Australian miners Rio Tinto and BHP Billiton over iron ore prices, which it wants reset to 2007 levels, meaning a price cut of at least 40%.
• Rio Tinto has already agreed a 33% cut with other Asian mills, forcing Baosteel to choose between a fixed price, albeit more than it wanted to pay, or the uncertain spot market.

Chinese shares up 1% as pace of price declines slows

• Hong Kong lead Chinese stocks, up +4.03% at 18,786, followed by Shanghai up +1.02% to 2,816, and Shenzhen and Taiwan both up +0.75% to 10,281 and 6,462 respectively.
• China State Shipbuilding rose +1.22% to 65.52 yuan, while Guangzhou Shipyard International gained +1.04% to 22.41 yuan.
• Lianyungang Port shares rose by the daily limit of +10% to 7.87 yuan and Shenzhen Expressway Company gained +9.97% to 6.40 yuan.

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,786	727.17	4.03%
Shanghai Composite	2,816	28.36	1.02%
Shenzhen Component	10,821	80.65	0.75%
TAIEX	6,462	47.88	0.75%
CNY/USD	6.8330	-0.0024	-0.04%

Source: China Economic Scan

10 June 2009 | China Economic Scan

10-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: Chinese vehicle sales surge 34% in May, Chinese government increases export subsidies, NBS to add 10 000 CPI survey locations, Tsingtao to buy Shandong's Jinan Beer for 250m yuan, Chinese stocks close up on Tuesday.

Top 5 headlines

China’s May Vehicle Sales Surge 34% on Subsidies, Tax

• China vehicle sales surged 34% in May on tax cuts and government subsidies, extending the country’s lead over the U.S. as the world’s largest auto market this year.
• Chinese drivers bought 1.12 million vehicles last month, the China Association of Automobile Manufacturers said in a statement today. Passenger-vehicle sales jumped 47% to 829,100.
• “Sales of small cars have been driving growth,” said Ricon Xia, an analyst with Daiwa Institute of Research (H.K.) Ltd. in Shanghai. “Whether automakers could reverse profit declines this year will depend on demand for big cars and heavy duty trucks that carry bigger profit margins.”

Exporters get sops to fight crisis

• The government has raised tax rebates for more than 600 export items, some up to the maximum level possible, as it stepped up efforts to provide succor to businesses battling the global economic slowdown.
• The Ministry of Finance said yesterday that it had increased tax rebates ranging from 5% to 17% on export products, including ethanol, toys and sewing machines, effective June 1.
• The export tax rebate scheme allows enterprises to get back part or all of the money they have paid in value-added tax, which stands at up to 17%, for items that have gone into the production of export goods.

NBS to add 10,000 CPI survey locations

• China will add 10,000 new consumer price index (CPI) survey locations in an effort to make the statistics more reliable.
• Liu Jianwei, vice dean with the department of urban social and economic survey of the National Bureau of Statistics (NBS) said Tuesday that it is planning to have a total of 60,000 survey spots.
• Currently, the NBS has 3,000 people who gather prices from almost 600 items of commodities and services from roughly 50,000 survey spots at more than 550 counties and cities across the country, said Liu.

Tsingtao to buy Shandong's Jinan Beer for 250m yuan

• Tsingtao Beer, China's second largest brewer, said yesterday it would buy Jinan Beer, a beer producer from Shandong province, for 250 million yuan ($36.66 million).
• Tsingtao said it had signed a contract with Shandong Commercial Group to buy its subsidiary, which has an annual beer output of 300,000 kiloliters and 1.08 billion yuan in total assets.
• Jinan Beer has 30-40% market share in Jinan, the provincial capital of Shandong, and the deal, when finalized, would help push up the share that Tsingtao Beer has in Shandong to 80%, analysts said.

Hong Kong Stocks Fall on Valuation Concerns; Foxconn Tumbles

• Mainland stocks closed up on Tuesday with the Shenzhen Component up +1.21% to 10,740, and the Shanghai Composite up +0.71% to 2,788, but the Hang Seng closed down -1.07% at 18,058, and the TAIEX continued it's 6 day losing streak down -3.22% and about 7% week on week at 6,414.
• Foxconn International Holdings Ltd., the world’s largest contract maker of mobile phones, lost -4%. Citic Pacific Ltd., a specialty-steel maker, lost -6.2%.
• China Huiyuan Juice Group Ltd. plummeted -8.3% after Warburg Pincus LLC pulled out of an investment in the company. Pacific Basin, Hong Kong’s largest bulk shipper, slumped -3.9%. The company was also hurt by a 4.3% slide in commodity cargo rates.

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,058	-194.9	-1.07%
Shanghai Composite	2,788	19.55	0.71%
Shenzhen Component	10,740	128.34	1.21%
TAIEX	6,414	-213.63	-3.22%
CNY/USD	6.8354	-0.0019	-0.03%

Source: China Economic Scan

9 June 2009 | China Economic Scan

9-June-2009

China Economic Scan - Your daily update on the Chinese economy.

In this edition: PSBC lends 70 bln yuan to SMEs, Top Chinese banker calls for US sales of yuan bonds, China Eastern and Shanghai Air to merge, Vestas to boost global sales and China workforce, Chinese stocks finish mixed on Monday.

Top 5 headlines

Postal Savings Bank of China extends 70 bln yuan in small loans

• The Postal Savings Bank of China (PSBC) has extended 70 billion yuan (10.2 billion U.S. dollars) in loans to small and medium-sized enterprises since it started giving small loans last June, PSBC governor Tao Liming said Sunday.
• PSBC lent 3-400 million yuan on average every day to small and medium-sized enterprises, and total credit was expected to exceed 100 billion yuan at the end of this year, said Tao.
• The PSBC's small loan program was first launched in Henan Province last June. It targets small and medium-sized companies and requires no collateral. The maximum loan for small business owners is 100,000 yuan, and for medium-sized firms 3 million yuan.

Top China banker calls for U.S. sales of yuan bonds

• A top Chinese banker on Sunday called on the U.S. government and the World Bank to sell yuan-denominated bonds in Hong Kong and Shanghai to encourage the development of debt markets in those centers and to promote the yuan as a major international currency.
• "I think the U.S. government and the World Bank can consider the possibility of issuing renminbi bonds in the Hong Kong market and the Shanghai market," said Guo Shuqing, the chairman of state-controlled China Construction Bank.
• Last Wednesday, banking groups HSBC Holdings Plc and Standard Chartered Bank both said they were preparing for yuan-denominated bond issuance in China to help the country develop its local-currency financial markets.

China Eastern, Shanghai Air to Combine After Losses

• China Eastern Airlines will combine with Shanghai Airlines after joint losses of 16.5 billion yuan ($2.4 billion) last year prompted the government to bail out the two state-controlled carriers.
• The combined group would have 306 planes and more than 600 routes, giving it a 50 percent share of air travel in China’s financial capital.
• “It shows that the government wants to improve the performance of state-owned companies through consolidation,” said Kelvin Lau, an analyst at Daiwa Institute of Research Ltd. in Hong Kong. And, “since they have accepted money from the government there is no other choice for them” except to follow the government’s plans.

Vestas to Boost Global Sales, Add China Workforce

• Vestas Wind Systems A/S, the world’s biggest maker of wind turbines, plans to increase global sales by 20% this year as it adds production centers and boosts workforce by a third in China.
• Vestas’s workforce in China will rise to 3,000 by 2009 from about 2,000 at the end of last year, Lars Andre Andersen, the head of the company’s China unit, said.
• 4 new production centers will also open this year, taking its number in China to 10, said Andersen. Vestas had sales of about 6 billion euros ($8.3 billion) in 2008.

China’s Stocks Rise for First Time in Three Days; Vanke Climbs

• Chinese closed mixed on Monday, the Hang Seng lost -2.28% at 18,253, the Shenzhen Component also fell -0.52% to 10,612, but the Shanghai Composite managed a gain up +0.52% to 2,768.
• Vanke jumped +4.7% after Shenzhen trading after the company reported the first monthly gain in the average price of its apartments this year. Minsheng Banking rallied +5.8% on the move to replenish capital. Jiangxi Copper, China’s biggest producer of the metal, dropped -4.2% on lower commodity prices.
• “Expectations of an economic recovery are still driving this rally,” said Wang Peng, Shanghai-based chief investment officer at First Trust Fund Management Co., which oversees about $2.1 billion. “In the short term, the market needs a break to allow some profit-taking pressure to be relieved.”

Financial Indicators:

Metric

Value

Point change

% change

Hang Seng Index	18,253	-426.14	-2.28%
Shanghai Composite	2,768	14.45	0.52%
Shenzhen Component	10,612	-55.36	-0.52%
TAIEX	6,628	-139.08	-2.06%
CNY/USD	6.8373	0.0013	0.02%

Source: China Economic Scan