China Stocks Dive, Alibaba Spends RMB5 bn on Taobao
Source: http://www.bizchina-update.com/content/view/1439/2/Posted on Wednesday, October 8th, 2008 | In China
Contributed by: Biz China Update (http://www.bizchina-update.com) -
China Stocks Drop Again
Chinese shares closed 3.04 per cent down on Wednesday, falling for the third consecutive day. The drop was driven by financial and brokerage shares. The benchmark Shanghai Composite Index dropped 3.04 per cent, or 65.61 points, to end at 2,092.22. The Shenzhen Component Index closed at 6,924.49…
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As China continues to evolve into a global power, its economic structures are changing, new laws are being enacted and the government is seeking to re-channel the fruits of sustained growth from the eastern seaboard to the rest of this vast nation. Gateway cities, such as Beijing, Shanghai, Shenzhen and Guangzhou, now compete with cities across China for foreign and governmental investment.
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