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To: Helios who wrote (25866)	11/29/1997 1:08:00 PM
From: John Rieman	Read Replies (1) \| Respond to of 50808

Good article, bad title. It only talked about the risks of a China slow down, not the reality of what's happening today.............................. chinadaily.net Economy hits 9-month high PERFORMANCE of China's economy was sound in October, a report issued yesterday by the State Statistics Bureau said. The value-added output of China's industry achieved by enterprises above the township level reached 172.3 billion yuan ($20.76 billion) in October, up 11.8 per cent from the corresponding period last year. The growth rate was higher than that of the past nine months, the report said. "The growth rate of light industry was higher than that of heavy industry," it said. Value-added output achieved by light industry was 78 billion yuan ($9.4 billion) in October, up 13.4 per cent from the corresponding period last year. Value-added output achieved by heavy industry was 94.3 billion yuan ($11.4 billion), up 10.7 per cent. Production of energy continued to grow slowly in October, the report said. It said that energy production increased 0.7 per cent in October from a year ago to 106 million tons of the standard coal equivalent. The ratio of sales to production reached 95.91 per cent in October, up 0.2 percentage points from a year ago. "Economic efficiency of enterprises continued to improve," the report said. China's 370,000 enterprises above the township level earned 101 billion yuan ($12.2 billion) in profits in the first nine months, up 30.8 per cent from the corresponding period last year. Investment in fixed assets came to 1,061.3 billion yuan ($127.9 billion) in the January-October period, up 12.1 per cent from a year ago. Investment in the real estate sector was 184 billion yuan ($22.2 billion) during the period, down 1 per cent. "The consumer goods market developed steadily," the report said. Retail sales of consumer goods was 234.8 billion yuan ($28.3 billion) in October, up 11.6 per cent. Retail sales of consumer goods amounted to 2,150.7 billion yuan ($259.1 billion) in the January-October period, up 11.4 per cent from the corresponding period last year. ------------------------------------------------------------------------ Date: 11/19/97 Author: Xu Dashan Copyrightc by China Daily

To: Helios who wrote (25866)	11/29/1997 8:53:00 PM
From: BillyG	Respond to of 50808

China is different from the others.................... For now, Lardy and others say, China appears to be well-insulated against the shocks that have hit the rest of Asia in the past month. China's currency is not convertible, so people cannot withdraw their money at will and cannot bet against it on currency markets. Moreover, most of China's investment is direct investment in real estate and factories, and most of those companies are here for the long haul. China's $116 billion in external debt is mostly long-term. In addition, China is holding about $130 billion in reserves, a powerful war chest for fending off speculators who might try to rattle China by attacking the currency of Beijing's recently retrieved jewel, Hong Kong. Nonetheless, investor concerns have rattled Chinese and Hong Kong markets this week. Shares of Chinese companies on the Shanghai and Shenzhen exchanges tumbled to new lows for the year. The Hong Kong exchange's index of "red chip" companies connected to China sank to less than half its peak just five months ago.