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	<title>China Tells &#187; Equity China (股市风云)</title>
	<atom:link href="http://blog.chinatells.com/category/equity-china/feed" rel="self" type="application/rss+xml" />
	<link>http://blog.chinatells.com</link>
	<description>Investor&#039;s Portal to China</description>
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		<item>
		<title>China&#8217;s Electric Car Incentive (电动汽车前景诱人)</title>
		<link>http://blog.chinatells.com/2010/12/4862</link>
		<comments>http://blog.chinatells.com/2010/12/4862#comments</comments>
		<pubDate>Mon, 27 Dec 2010 05:44:44 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4862</guid>
		<description><![CDATA[China is one of the countries that offer the greatest incentives to electric cars in the world (Click HERE for a related Story). Based on the latest data, China offers an incentive of about 8800 US Dollar for every unit of electric cars, only second to Denmark who offers almost 20,000 USD for every unit [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4862/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Bank Loan likely to breach quota in 2010 (贷款洪潮)</title>
		<link>http://blog.chinatells.com/2010/12/4855</link>
		<comments>http://blog.chinatells.com/2010/12/4855#comments</comments>
		<pubDate>Thu, 23 Dec 2010 03:59:40 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4855</guid>
		<description><![CDATA[It looks likely that China&#8217;s bank loan this year will exceed the quota again. For 2010 China banks have a loan quota of 7.5 trillion RMB for the whole year. By the end of Oct, a total loan of 6.8 trillion has already been made. For 2 months to go before the year end, it [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4855/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China’s PE: All About IPO (要圈钱，去股市)</title>
		<link>http://blog.chinatells.com/2010/12/4842</link>
		<comments>http://blog.chinatells.com/2010/12/4842#comments</comments>
		<pubDate>Tue, 21 Dec 2010 03:47:56 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[PE China (私募风投)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4842</guid>
		<description><![CDATA[How does China&#8217;s PE get out of their investment? The answer is simple: IPO. In 2010 up till November, 86.1% of the nation&#8217;s PE exit their investment through IPO. There are also other types of exits such as M&#38;A, Ownership transfer and Buy Back. However IPO is the main channel for the exit. 中国的私募基金如何退出投资标的？答案很简单，就是上市。2010年截至11月份为止，86.1%的私募基金通过上市退出其投资的项目。显然公共资本市场是这些私募套现的主要途径。 Related [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4842/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Internet the big winner of China VC Investment (互联网的第二次革命)</title>
		<link>http://blog.chinatells.com/2010/12/4839</link>
		<comments>http://blog.chinatells.com/2010/12/4839#comments</comments>
		<pubDate>Tue, 21 Dec 2010 03:32:13 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4839</guid>
		<description><![CDATA[Internet becomes the sexy baby of China&#8217;s VC investment again, at least in 2010. Up till November, VC funds have invested a total of more than 500 million USD in China&#8217;s Internet sector. Such an investment mania is not that surprising following the success of Youku, Tudou and Alibaba. The next to follow is Clean [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4839/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A mania of VC in China (风险投资盛宴中华)</title>
		<link>http://blog.chinatells.com/2010/12/4836</link>
		<comments>http://blog.chinatells.com/2010/12/4836#comments</comments>
		<pubDate>Tue, 21 Dec 2010 03:10:31 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[PE China (私募风投)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4836</guid>
		<description><![CDATA[VC funds have had a great year in China in 2010. Every time I talk to some friends in PE or VC industry in China, I get the feeling that there are so many liquidity in the country chasing projects. For example, a website designing cartoons without any unique edge can easily be chased after by several [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4836/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>2010 IPO is all about Banks (炒股先炒银行股)</title>
		<link>http://blog.chinatells.com/2010/12/4832</link>
		<comments>http://blog.chinatells.com/2010/12/4832#comments</comments>
		<pubDate>Fri, 17 Dec 2010 08:24:24 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4832</guid>
		<description><![CDATA[Now that it is almost at the end of the year, probably it is a good idea to do a summary of IPO market in Hongkong. According to the stats that we collect, in 2010 HK stock market has raised a total of about 410 Billion HKD. About 60% of the fund raised are in [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4832/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IPO is all about China (要上市来中国)</title>
		<link>http://blog.chinatells.com/2010/12/4811</link>
		<comments>http://blog.chinatells.com/2010/12/4811#comments</comments>
		<pubDate>Mon, 13 Dec 2010 08:09:05 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4811</guid>
		<description><![CDATA[IT is all about China when the market comes to IPO. You might not believe it or don&#8217;t like it. However, the fact is, if you look at the top ten IPOs in the past 10 years, it is all about China (almost): The World&#8217;s Largest IPO since 2000 Company IPO Date Fund Raised (USD [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4811/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>24 hours of Shanghai Stock Market (股市全球转)</title>
		<link>http://blog.chinatells.com/2010/12/4808</link>
		<comments>http://blog.chinatells.com/2010/12/4808#comments</comments>
		<pubDate>Mon, 13 Dec 2010 07:59:17 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4808</guid>
		<description><![CDATA[It is widely reported that Shanghai&#8217;s stock exchange aims to increase the trading hours to 24 hours by 2020 (click here for the story). Whether such a goal is realistic is a topic for another day. However a fact worth noting is the growing market impact of China&#8217;s stock market in the past decade. In fact, in the [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4808/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>On the road to the biggest car nation (朋友你买车了么)</title>
		<link>http://blog.chinatells.com/2010/12/4788</link>
		<comments>http://blog.chinatells.com/2010/12/4788#comments</comments>
		<pubDate>Sat, 11 Dec 2010 23:52:43 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4788</guid>
		<description><![CDATA[China is under the way towards an unprecedented big nation of cars. In 2010 China surpassed USA to become world&#8217;s biggest country of car sales annually. This trend is poised to continue. According to JP Morgan China will likely have about 140 million cars on the road by 2015. Most foreign car makers, such as [...]]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/12/4788/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Which sector performs well in Inflation (通胀买啥股)</title>
		<link>http://blog.chinatells.com/2010/11/4755</link>
		<comments>http://blog.chinatells.com/2010/11/4755#comments</comments>
		<pubDate>Thu, 25 Nov 2010 10:02:25 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4755</guid>
		<description><![CDATA[China's latest inflation number (4.4% in Oct Y-o-Y) has caught attention and concern of a lot of people (Click HERE for a story from FT). PBOC has reacted by raising the RRR and interest rate in a seemingly agressive fashion. Which sector is most resillient to inflation becomes the natural question for stock investors. Judging from the past experience (2004 and 2007/08 when the inflation in China was higher than 10%), it seems that not many sectors have performed well except Insurance, Energy and Telecom. Some other sectors such as property were hit hard. If history is of any guidance, maybe these are the sectors that investors should pay attention to.

中国通胀再一次引起世人关注，最近的通胀率达到了4.4%，超过了央行的警戒线范围。在04年和07/08年，类似情况也曾经发生过。纵观当时的股市，似乎没有几个行业在通胀的环境下有价格上升。仅有的表现不错的行业有保险，能源和电信。也许投资者在当下也可以关注这几个行业。
]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/11/4755/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Investment Mania back to Stock Market (股市又热)</title>
		<link>http://blog.chinatells.com/2010/11/4702</link>
		<comments>http://blog.chinatells.com/2010/11/4702#comments</comments>
		<pubDate>Wed, 03 Nov 2010 13:21:25 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4702</guid>
		<description><![CDATA[It seems that the investment enthusiasm is back to the stock market. According to the stats from CEIC, the Shanghai stock exchange turn over has continued to climb higher and now is at the historical high. This is particularly relevant in the environment that the government seems keen to crack down on the speculation in property market. Given that the liquidity need to find a place to go, if the government is telling speculators not to buy more houses, then stock market seems to be the natural destination for the flush of money.

中国内地再度燃起对股市的追捧热情。由于近期政府频出重拳打击房市中的投机炒作行为，因此流动资金不得不再觅炒作市场，股市成为理所当然的良好选择。目前上市的日交易量创下历史新高，显示投机资金热情不减，为股市的下一轮泡沫形成埋下了重要的伏笔。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/11/4702/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>PBOC&#8217;s rate increase is asymmetrical (看似对称的不对称加息)</title>
		<link>http://blog.chinatells.com/2010/10/4677</link>
		<comments>http://blog.chinatells.com/2010/10/4677#comments</comments>
		<pubDate>Fri, 22 Oct 2010 03:24:07 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4677</guid>
		<description><![CDATA[On Oct 20, 2010, PBOC announced to increase the interest rate on both deposit and lending sides. Overall it looks like a symetrical increase, as on average both deposit and lending rates have been increased by 25 basis points. However, if one looks into the detail, in fact the rate increase is asymmetrical. For example, the rate increase on deposits varies from 0% (on demand deposit) to 60 bps (5 year deposits). On the other hand, on the lending rate, the rate was increased around 20-25 basis points on average across the board. Such a strategy implies that PBOC would like to encourage deposits for longer horizon, and rein in lending regardless of maturity. For the commercial banks, as most banks have demand deposit accounting for at least 50% of their total deposit, the rate increase is in fact benefitial to them as it improves the net interest margin on average. In China, banks' deposit rates are strictly fixed by PBOC. On the lending side, Banks can lend at the minimum of 10% below PBOC's guiding rate, with no limit on the upside.

10月20号央行宣布加息。乍一看似乎是对称加息，即存款利率和贷款利率都提高25个基点。事实上如果仔细研究，就会发现加息中有很多细节讲究。比如在存款利率上，活期不加；存款时间越长，加的越多。贷款利率上，基本上统一加20-25个百分点。总体来说加息对银行有利，因为银行一般左右的存款都是活期，因此不需要支付额外利息。
]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/10/4677/feed</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Chanos: I have never been to China but We are still Short China (查诺斯继续看空中国)</title>
		<link>http://blog.chinatells.com/2010/09/4618</link>
		<comments>http://blog.chinatells.com/2010/09/4618#comments</comments>
		<pubDate>Thu, 23 Sep 2010 02:55:17 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Video China (镜下百态)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4618</guid>
		<description><![CDATA[Jim Chanos is still bearish on China and still short property stocks and commodity stocks related to China. Obviously Chanos has been hurt recently. However, he still holds his view firm and thinks that China's building boom will not end up well. Chanos will also show in the coming movie: Wall Street 2 - Money never sleeps. Interestingly Chanos has never been to China.

查诺斯曾经说过中国房地产泡沫是1000个迪拜。最近他在接受CNBC访问时表示他们继续看空中国。他感觉中国的投资拉动型经济增长会有恶劣的后果。同时他表示自己从来没去过中国，但是显然他做过很多关于中国的细致的研究。
]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/09/4618/feed</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>A decade of Emerging Markets (新兴市场十年辉煌)</title>
		<link>http://blog.chinatells.com/2010/08/4583</link>
		<comments>http://blog.chinatells.com/2010/08/4583#comments</comments>
		<pubDate>Mon, 23 Aug 2010 10:22:38 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4583</guid>
		<description><![CDATA[The past ten years can be labeled as the decade of the emerging markets. Based on MSCI World Equity Index, the stock market in emerging markets including China has outperformed that of USA and Japan by far. The best performer is Russian equity market, up by more than 400% since January, 2001. The equity markets in Brazil and India follow, and then China. Both USA and Japan posted a negative return to equity investors.

过去的十年可以说是新兴市场的黄金十年，这一事实在股票市场上显露无遗。根据MSCI世界股票指数，金砖四国的股票各有大幅度增长，其中以俄罗斯股票市场的上升最为显著。与之相比，美国和日本的股票市场均有所下跌，可以说是股市的失去的十年。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/08/4583/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>CMB the Biggest Winner on Stock Market (招行股市呼风唤雨)</title>
		<link>http://blog.chinatells.com/2010/07/4492</link>
		<comments>http://blog.chinatells.com/2010/07/4492#comments</comments>
		<pubDate>Sun, 18 Jul 2010 00:04:24 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Corp China (公司动态)]]></category>
		<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4492</guid>
		<description><![CDATA[China Merchant Bank is the best performer in terms of absolute return and relative return to benchmark in the last 12 months, according to a latest study. The share price (H) of CMB has increased about 25% in the last 12 months, and up more than 10% compared to MSCI. Some other banks, such as Citic, has delivered disappointing results. The other big three, including ICBC, CCB and BoC all delivered almost the same return as the Benchmark. It seems that CMB is th biggest winner so far.

中国招商银行过去1年在股市上的表现引人注目，远远超出其他银行的回报。招行的股价在过去的12个月中上涨了25%，比MSCI中国指数上涨了10%。与之相比，其他银行的表现就显得平庸了很多。比如工行，中行和建行的股价都随着大盘动，没有任何更出色的表现。]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Chinese Real Estate Shares valuation at low end (地产股估值处于低价位)</title>
		<link>http://blog.chinatells.com/2010/07/4486</link>
		<comments>http://blog.chinatells.com/2010/07/4486#comments</comments>
		<pubDate>Sat, 17 Jul 2010 23:37:23 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4486</guid>
		<description><![CDATA[China Property companies' share valuation is at the lower end compared to historical records. Since 2003, China's property stocks have been trading at a multiple between 9X and 60X. The multiple collapsed in end 2008/early 2009 to touch a low in the last 10 years, and has recovered mildly since. From a long term perspective, there might be some value in the property stock of Chinese equity market.

中国地产股最近的估值在15倍左右，从历史纪录来看属于低位。中国地产股在2007年创下了接近60倍的高位，但从那之后便一路下跌。2010年地产股估值从09年的低点有所回升。从长期投资的角度来看，目前的地产股可能还属于比较便宜的价位。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/07/4486/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Does it Matter? (投资无差异)</title>
		<link>http://blog.chinatells.com/2010/06/4391</link>
		<comments>http://blog.chinatells.com/2010/06/4391#comments</comments>
		<pubDate>Sat, 05 Jun 2010 11:05:32 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4391</guid>
		<description><![CDATA[A look back of the stock market in the last 2 years shows that if one invests some money in the US stock market, he would have got exactly the same return as if he had invested in the China's stock market (Hang Seng Index). The chart shows that the two stock markets moved hand in hand in the broad trend, with Hang Seng underperforming in '08/09 and over performing in the second half of 09 to the first half of '10. It also shows that during a time for risk appetite, Hang Seng tends to out perform S&#038;P and vice versa.

比较过去两年恒生指数和S&#038;P指数可以看出，这两个股票市场给投资者带来的收益几乎是一样的。当然在不同时段股票的表现不一，但是从长期来看，可能各个股市之间的差异性正在逐步缩小。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/06/4391/feed</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>Mantel: More downside on China&#8217;s Property and Banking sector (房地产和银行股还有下跌空间)</title>
		<link>http://blog.chinatells.com/2010/05/4380</link>
		<comments>http://blog.chinatells.com/2010/05/4380#comments</comments>
		<pubDate>Sat, 29 May 2010 11:14:21 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Property China (房产透视)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>
		<category><![CDATA[Video China (镜下百态)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4380</guid>
		<description><![CDATA[Andy Mantel is the Managing Director of Pacific Sun Investment Management Ltd. During an interview with Bloomberg, Andy reckons that there are still downside potential for China's property and Banking sector. His fund got out of China's A share since nine months ago and still doesn't see much value of going into A Share market now.

Andy Mantel在接受蓬勃社采访时发表看法，认为A股还有下跌空间。该基金主要在股市上做多空组合，目前他们对银行股持谨慎态度。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/05/4380/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China Equity has more downside to go (股市还有下跌空间)</title>
		<link>http://blog.chinatells.com/2010/05/4370</link>
		<comments>http://blog.chinatells.com/2010/05/4370#comments</comments>
		<pubDate>Fri, 28 May 2010 08:10:34 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4370</guid>
		<description><![CDATA[A comparison between China's equity market and that of Saudi Arab's shows more potential downside of China's equity market. Saudi Arab's equity market started to climb up around 2000 and continues to the top in 2008. During 2008 Saudi's property bubble burst badly, which dragged the equity market down heavily. A comparison between the two equity markets shows that after the property bubble bursts, there is a long way for the equity market to go down, and there is potentially more downside for the current China's equity market.

如果将中国和沙特的股市相比，会得出很有趣的结论。沙特阿拉伯股市在08年达到顶峰，同时房地产泡沫破裂。股市和房市经历了一段痛苦的收缩期，特别是股市跌去了80%左右。从这方面的历史经验看，中国的股市可能还有下跌的空间。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/05/4370/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>China&#8217;s Secret of Growth (增长秘籍)</title>
		<link>http://blog.chinatells.com/2010/05/4353</link>
		<comments>http://blog.chinatells.com/2010/05/4353#comments</comments>
		<pubDate>Tue, 25 May 2010 13:18:39 +0000</pubDate>
		<dc:creator>Wushu</dc:creator>
				<category><![CDATA[Equity China (股市风云)]]></category>
		<category><![CDATA[Investing China (投资视角)]]></category>
		<category><![CDATA[Macro China (国际视点)]]></category>
		<category><![CDATA[Stats China (统计图表)]]></category>

		<guid isPermaLink="false">http://blog.chinatells.com/?p=4353</guid>
		<description><![CDATA[What's the secret of China's economic growth in the last two decades? Such is a question that has bothered numerous economists. One of the answers seems to lie in the increase in productivity. According to a latest study, China's productivity, measured by the manufacturing labor unit cost, has decreased steadily since 1992. To be debased as 100 in 1992, the latest labor unit cost in 2010 is around 40, which is 60% lower than the cost in 20 years ago.

中国经济增长有何良方到目前为止还是经济学家争论不休的话题。在众说纷纭的不同原因中，有一条似乎是大家取得共识的，那就是中国的生产力得到了很大的提高。目前一项研究表明，中国的单位劳动力成本从1992年开始一路下滑，目前的水平大概比92年下降了60%左右。这可能是中国经济飞速增长的重要原因之一。]]></description>
		<wfw:commentRss>http://blog.chinatells.com/2010/05/4353/feed</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

