Chinese bubble?
Some facts about the Chinese stock market from Paul’s site:
- While the Shanghai Composite is up a fairly staggering 158% year-to-date — and 188% over the last five years — the five-year return works out to an annualized return of 13%. Granted, that isn’t tiny, but it also isn’t exactly daunting either. With profits doubling in many Chinese companies year-over-year, and with the the Shanghai Composite having been flat from 2002 to late 2006, it can, perhaps, be forgiven for a playing a little catch-up, can’t it?
- China Life, PetroChina Co., China Mobile Ltd., Industrial and Commercial Bank of China Ltd. and China Petroleum and Chemical Corp. are now in the list of the world’s 10 biggest companies by market value. Only two of those are in the top 50 by sales.
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