USX China Index Launched Today - Is the Only Index Devoted to Chinese-Focused Public Companies
Traded on U.S. Stock Exchanges
2003-10-20 03:00 PT - News Release
Also News Release (U-ACH) ALUMINUM CORP OF CHINA LT
Also News Release (U-ASIA) ASIAINFO HOLDINGS
Also News Release (U-ASTT) ASAT HOLDINGS LTD
Also News Release (U-BYH) Sinopec Beijing Yanhua Pe
Also News Release (U-CBA) BRILLIANCE CHINA AUTO HLD
Also News Release (U-CEA) CHINA EASTERN AIRLINES
Also News Release (U-CEO) CNOOC LTD
Also News Release (U-CHDX) CHINDEX INTERNATIONAL
Also News Release (U-CHL) CHINA MOBILE HK LTD
Also News Release (U-CHU) CHINA UNICOM LTD
Also News Release (U-CYD) CHINA YUCHAI INTL LTD
Also News Release (U-HNP) HUANENG POWER INTL INC
Also News Release (U-JCC) JILIN CHEMICAL INDL CO
Also News Release (U-NTES) NETEASE.COM INC
Also News Release (U-PTR) PETROCHINA CO
(note, above list incomplete, see below)
DALLAS, Oct. 20 /PRNewswire/ -- In response to growing interest among investors in publicly traded
securities with operations in China, the USX China Index was launched today as the only index in the
world devoted exclusively to Chinese-focused public companies traded on U.S. stock exchanges.
While the USX China Index will be available for newspapers and financial media worldwide, investors will
also be able to access the index via the Internet at usxchinaindex.com starting today.
"The birth of an index devoted exclusively to Chinese-focused publicly held companies with their
securities traded on U.S. stock exchanges was long overdue," said Tim Halter, managing director of the
USX China Index. "It's appropriate that we launched the index earlier today in Shanghai, China, at a news
conference. The response there has been very enthusiastic. There is a need and demand from investors
for this unique index. We anticipate a positive response throughout Asia, North America and elsewhere."
He noted that China has the fastest-growing economy in the world. In 2002, China surpassed the U.S. as
the largest recipient of direct foreign investment, an indicator that "smart money" is rushing into China. "In
contrast to the gloomy mood in the U.S. the past few years, in China I see people with a twinkle in their
eye as their country experiences an economic boom of historic proportions," Halter said.
Nowhere is this more dramatically reflected than in the results of the USX China Index for the past 52
weeks. For this period, the USX China Index was up 136% compared to Nasdaq and the Dow Jones
Industrial Average, which were up only 52% and 22% respectively for the same period.
"The stocks in the USX China Index offer investors the opportunity to invest in China with the safety of the
U.S.-regulated securities markets," Halter explained. "All of the companies in the index are public
reporting companies that have their stocks traded on U.S. exchanges which are governed by the
Securities and Exchange Commission."
Initially, 22 public companies will be represented in the USX China Index. To be included in the USX
China Index, companies must meet the following criteria:
* Their primary business is conducted in China. * Their common stock is traded on U.S. exchanges *
Each company's market capitalization is more than $50 million * The company is approved by the USX
China Index selection committee which considers additional factors such as trading volume, public
interest and shares available to the investing public. The following 22 public companies comprise the
inaugural USX China Index: Aluminum Corp. of China Ltd. AsianInfo Holdings, Inc. ASAT Holdings Ltd.
Brilliance China Automotive Holdings Ltd. Sinopec Beijing Yanhua Petrochemical Co. Ltd. China
Eastern Airlines Corporation Ltd. China National Offshore Oil Corp. Chindex International, Inc.
Chinadotcom Corporation China Mobile Hong Kong Ltd. China Unicom China Yuchai International Ltd.
Huaneng Power International, Inc. Jilin Chemical Industrial Co. Ltd. Netease.com, Inc. PetroChina Co.
Ltd. Sinopec Shanghai Petrochemcial Co. Ltd. Sina Corporation Sohu.com, Inc. Qiao Xing Universal
Telephone, Inc. Yanzhou Coal Mining Co. Ltd. China Southern Airlines Company Ltd.
These companies represent a wide range of industries, from energy and high tech to diversified services
and transportation. In addition to benefiting from the booming economy in China, investors are also
aware that China's currency, the yuan, is artificially undervalued. Experts predict at some point in the near
future, China will allow its currency to float, which would translate into a sizeable increase in profits as the
currency is revalued in world markets.
For further information, please contact: Carl Thompson/Principal of CTA Public Relations,
+1-303-665-4200, carl@ctapr.com, for USX China Index.
USX China Index |
