FDI Rises; April Trade Surplus of $17 B

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Market Update Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 8:03 PM EDT May 13 2008

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Foreing direct investment in China rose 60% in the first four months of the current year. Investors have been untilising the foreign investment approval but the number new manufacturing units declined. China is expected to impose minimum wage rule as of June 2008. A number of companies have also relocated to India and Vietnam as labor costs rise in China. Trade surplus in April declined 1% to $16.6 billion, a rise of 25% from March of this year.

Want Want China Holdings declined 2% after it reported that four of its production plants in Chengdu in Sichuan province would suspend production for a week for safety inspections.

Cement maker Anhui Conch rose 5.3% to HK$65.80 on expectations demand for the product will increase due to reconstruction projects in the aftermath of the earthquake.

Aluminum Corp of China Ltd gained 6.3%, while Tencent gained 8.8% after news that they will join Hong Kong''s blue-chip index.

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