Chinese Equities Receive a Boost as Manufacturing in China Rises for the First Time in 13 Months
The Paragon Report Provides Stock Research on Cleantech Solutions International and Zhongpin
NEW YORK, NY -- (Marketwire) -- 11/27/12 -- Chinese stocks received a boost last week as China's soft economy, which is set to grow at the slowest pace in over a decade, showed some much needed signs of improvement. The Bloomberg China-US 55 Index (CH55BN), which tracks the performance of the top 55 Chinese equities trading in the US, surged 2.3 percent last Friday. The Paragon Report examines investing opportunities in Chinese Equities and provides equity research on Cleantech Solutions International Inc. (NASDAQ: CLNT) and Zhongpin Inc. (NASDAQ: HOGS).
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A recent survey has shown that manufacturing in China, the world's second largest economy, expanded for the first time in 13 months. HSBC's Purchasing Managers' Index last week rose to 50.4 for November, any reading above 50 signals expansion. China's leaders have slashed interest rates twice since June and have announced $150 billion in infrastructure projects in attempts to boost its slowing economy.
"It shows that the policy easing has continued to support a growth recovery, and reinforces our view that growth will pick up strongly in the fourth quarter to 8.4% from 7.4% in the third quarter," said Nomura economist Zhiwei Zhang.
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Cleantech Solutions supplies forging products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector and supplies dyeing and finishing equipment to the textile industry. The company reported revenues in the third quarter totaled $17.3 million, a sequential increase of 35.2 percent.
Zhongpin is a leading meat and food processing company that specializes in pork and pork products, vegetables, and fruits in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing. On Monday, shares of the company spiked over 15 percent after reporting it has accepted an offer to go private.
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