GS 高盛：每日中国报告 09.07

China-Daily-Insights 09.07 10页

Today’s focus
China Views: The PBOC raised the reserve requirement ratio by 50 basis points
Beijing Media (1000.HK): 1H2007 results: new media pressure newspapers, even in China
Denway Motors (0203.HK): Flat 1H07 earnings in line with expectation; Neutral rating remains
China: Banks: RRR hike to 12.5% may not be sufficient to contain excess liquidity
Headline news
China: stock-index futures preparations near completion (Xinhua)
Chinese premier outlines ways to maintain China's development miracle (Xinhua)
Shanghai bourse demands disclosure of cooperation details (China Daily)
NDRC: China economy shows no sign of overheating (China Daily)
China to resume joint venture with foreign securities firms (Yahoo)
China Views: The PBOC raised the reserve requirement ratio by 50 basis points, Hong Liang
• The People’s Bank of China (PBOC) raised the reserve requirement ratio (RRR) today by 50 basis points (bp) to 12.5%, effective from September 25, 2007.
• This is the seventh RRR hike in 2007, driven by rising inflationary pressures and the increasing need for liquidity sterilization caused by the intensified external imbalance