China Stock Market Surge Jives With Economy -Regulator
From Reuters, via the Forbes:
The big first-half rebound in Chinese stocks was closely in step with improving economic fundamentals, though uncertainties still cloud the outlook, the country’s top securities regulator was quoted as saying by official media on Wednesday.
Shang Fulin, chairman of the China Securities Regulatory Commission, said that the government’s stimulus spending, a pick-up in business momentum, flush liquidity and strengthening expectations all underpinned the stock market in the first half, when the country’s benchmark index soared 63 percent.
But he added that it would take ‘quite a long time’ to overcome the difficulties in the wake of the global financial crisis and that China’s economic recovery was still not firmly grounded, Xinhua news agency reported.