<P><FONT face=楷体_GB2312 size=5><STRONG>GS 高盛：中国每日报告 07.13</STRONG></FONT></P>
<P><FONT face=楷体_GB2312 size=5><STRONG> China-Daily-Insights 07.13      9页</STRONG></FONT></P>
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<P>Today’s focus<BR>China Unicom (0762.HK): Operational worries linger, some valuation methods pose concern<BR>Mingyuan Medicare Development (0233.HK): Citi's stake purchase is welcome news<BR>Mingyuan Medicare Development (0233.HK): TP raised to HK$1.6; more value emerges as China Life sales expand<BR>Foxconn Int'l Holdings (2038.HK) Buy: Look through choppy waters; adding to Conviction list<BR>Headline news<BR>Large, mid-scale firms to adopt new accounting standards (China Daily)<BR>Await a turning point (China Daily)<BR>China Foreign Direct Investment Rises 12 Percent in First Half (Bloomberg)<BR>Fewer new investors in Chinese A-share market (Xinhua)<BR>China Unicom (0762.HK): Operational worries linger, some valuation methods pose concern, Helen Zhu<BR>• What's changed: China Unicom (CU, 0762.HK, HK$13.46, Neutral) share price is up 18% YTD, outperforming HSI by 3.8pp but underperforming MSCI China by 10pp. During this period, despite mostly unchanged consensus operating forecasts & no concrete data points on a potential CU-breakup, CU’s consensus</P>