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To: Lee who wrote (76196)	11/2/1998 8:47:00 PM
From: Bandit19	Respond to of 176387

Lee, Hi! Yes, it looks like we're chugging back up toward 69.2, but if you connect the highs since last Dec in a trend line, 75 is the target!! ....And the train rolls on!!!! Best, Steve

To: Lee who wrote (76196)	11/2/1998 8:56:00 PM
From: Mohan Marette	Respond to of 176387

<Economy-China> Growth projection on track says China's top economic planner. Lee: Steady as she goes,well so far. =========================== Excerpts from: SJM BEIJING, Nov 1 (Reuters) - China's top economic planner on Sunday declared that the target of 8.0 percent growth this year was within reach, basing his optimism on a massive state investment binge. ........... China's Gross Domestic Product rose 7.6 percent in the third quarter of this year, compared with a year earlier. Annual growth was 7.0 percent in the first half and 7.2 percent for the first nine months. Premier Zhu Rongji has said growth would need to top 10 percent in the final quarter to boost growth for the whole year to 8.0 percent. ......... Looking at China's current financial situation, there is still room to appropriately increase money supply,'' Zeng said. China's broad-based M2 money supply rose a year-on-year 16 percent at the end of September, while the narrowly defined M1 figure rose 13.2 percent. .............. To try to reassure international investors that the country's debt levels were under control, China last week published figures showing total outstanding foreign debt was $137.96 billion as of June 30, up just $7.0 billion since the end of last year. Short-term debt was down $160 million to $17.96 billion. On Friday last week, the central bank unveiled a sweeping reorganization of the central bank along regional lines. The aim is to wrest control of fiscal policy away from big-spending provincial politicians. A day earlier, the central bank announced it would shut foreign exchange swap centers and put hard currency dealings under its own watchful eye. .................. mercurycenter.com