NEWSpublisher 2007 :: AngloChinese Investments
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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS » Finance back to previous page show list
»09/05/2007 [Finance]
Surge in buying on China's stock market

On Wednesday China's stock market traded more shares than all the other Asian stock markets put together.

 

An unprecedented 90 million share trading accounts now exist in China - 5 million alone set up in April.  Despite their meagre incomes, the average Chinese worker still manages to save.  However, disatisfied with rates of interest paid by Chinese banks and always keen to have a flutter, Chinese workers in the main cities throughout the country have been moving some of their savings to the stock market where they see the opportunity to make bigger gains. 

The result is that values of some companies' shares have risen far beyond their realistic worth.  Next Century - a Chinese pharmaceutical company, was publicly accused and criticised when nine people died after taking their prescription drugs, which they had released without approval by the SFDA.  Despite the bad publicity, Next Century's shares rocketed in value.

It is rumoured that the Government will take action to contain share trading to avoid a DotCom scenario  as experienced in the rest of the world 10 years ago.


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