GS 高盛：中国每日报告03.27

China-Daily-Insights

03.27 11页

Today’s focus
Asia Pacific: Portfolio Strategy: China feedback
China: Insurance: Premium play on China's consumer and capital market deepening
China Telecom (0728.HK) Buy: A fixed line FCF story with a free mobile option
Bright Dairy (600597.SS): FY06 earnings down 28% yoy, below expectation
China Telecom (0728.HK): First take: Earnings in-line, DPS/capex positive, 4Q06 MOU weak
China Resources Power (0836.HK): First take: 2006 net income 5% above expectations
COFCO International (0506.HK): Earnings estimates revised post spin-off; Neutral at 35X 2007E P/E
Headline news
State breaks own monopoly in oil trade (China Daily)
Ministry of Commerce publishes guidelines on foreign investment for 2007 (Xinhua)
Overseas banks poised to offer broader choice (Xinhua)
Great potential for trade, investment (People’s Daily)
Future exchange debuts zinc trading (Shanghai Daily