BizChina
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- By David Cao
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Who hasn’t given some thought to how to invest in China’s remarkable economic growth? Forbes China magazine’s 2010 Investment Guide hit the streets today, and offers 10 domestically traded stocks that the magazine’s editors consider to be worth buying. Even if you can’t buy domestically traded stocks in the mainland, the group offers a good window into industries and businesses that are doing well in the world’s most dynamic economy.
Here are this year’s picks, with their China-exchange ticker number in parentheses:
*Suning Appliance (002024), China’s largest retail appliance chain. A messy battle for control of rival Gome Electrical Appliances and government encouragement of retail spending by Chinese can only be great news for Suning and its
suppliers. Among U.S. companies that sell products in Suning’s stores are Dell, Hewlett-Packard, IBM and Apple Computer.
*Jiangsu Yanghe Brewery (002304), China’s no. 4 manufacturer of rice wine. Some 70% of its sales are concentrated in Jiangsu province, leaving a lot of room to grow in other areas.
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- By David Cao
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U.S. agricultural exports to the Chinese market are surging. Yet the burgeoning trade in food and agricultural goods could eventually face headwinds, especially if Beijing takes further steps to subsidise its rural economy.
The Chinese market is extremely attractive to U.S. agricultural and food producers:
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- By Russell Flannery
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Homes Inns, an economy-hotel chain that’s been a big beneficiary of China’s travel industry boom, expects to keep up its rapid expansion in the next few years, CEO David Sun told reporters.
Since 2004, the Shanghai-based company has increased the number of hotels in its chain from 20 to 700. It hopes to have 1,000 hotels open by the end of next year, Sun said at a gathering of the Shanghai Foreign Correspondents Club on Wednesday.
Read more: China Economy Hotel Chain Home Inns Sees Brisk Expansion
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- By Russell Flannery
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China’s no. 1 manufacturer of eReaders is writing a memorable tale of its own this year as brisk sales fuel profits and the wealth of its main owners.
Hanwang Technology, which also goes by the name Hanvon Technology, said today net profit in the first six months of the year more than quadrupled to 87 million yuan, or $12.8 million, from 21 million yuan a year earlier. Sales climbed to 674.4 million yuan from 176 million yuan.
Read more: Profit Soars As China’s eReader King Writes Its Own Story
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- By David Cao
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Wits Basin Precious Minerals Inc. (OTCBB:WITM) (the "Company") reports that its joint venture with London Mining Plc, China Global Mining Resources (CGMR), is in the process of completing the next phase of required funding for acquisition and development for its iron ore business in the People's Republic of China (PRC).
Read more: Wits Basin Announces China Global Mining Resources Capital Update
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