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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 23

China Business Intelligence No. 23

Samsung Economic Research Institute Beijing Office

Mar. 26, 2007

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Highlights

I. Perspective on China's "Black Tuesday"

  • Shanghai stock exchange's 8.84% fall on Feb. 27 was the biggest one-day drop in 10 years. The correction sent seismic shock waves through global markets. The New York Stock Exchange fell 3%, its largest one-day drop since September 2001. European and Japanese equity markets shed 3 and 7%, respectively.

II. Chinese Consumer Market Goes Upscale

  • After decades of breakneck economic growth, China is finally emerging as a major consumer market. Sales of consumer goods grew 13% year-on-year in 2005 to 6.71 trillion yuan. That was 3.3 times higher than the 2.06 trillion yuan recorded in 1995.
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