Tai Ming Cheung on Political Makeup of the Chinese Politburo's Standing Committee
China’s Stocks Fall, Dragging CSI 300 to 2009 Low; Sinopec Drops
11/16/2012
Bloomberg
China’s stocks fell, dragging the CSI 300 (SHSZ300) Index to the lowest level since 2009, on concern the nation’s new leadership won’t accelerate economic reforms including reducing the dominance of state-owned enterprises.
China Petroleum & Chemical Corp. (600028), an oil refiner known as Sinopec, retreated 2 percent after the government lowered fuel prices for the first time since July. Qingdao Haier Co., the biggest refrigerator maker, dropped to a two-week low after China said it will end subsidies of rural home-appliance sales. China Shenhua Energy Co. led a gauge of energy producers to the third-steepest drop among industry groups.
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Tai Ming Cheung is an associate research scientist at the University of California Institute on Global Conflict and Cooperation (IGCC) located at the University of California, San Diego in La Jolla. He directs the Minerva program on Chinese security and technology, a multi-year academic research and training project funded by the U.S. Defense Department to explore China’s technological potential.
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