MS 摩根斯坦利：中国投资展望

55页 09.20 September 2 0 , 2007

Strategy and Economics
China
8 Strategy Fortnight in Focus
Jerry Lou
10 Economics ‘An Era of Inflation’ Dawns For
China? Not So Early
Qing Wang
12 Economics US Rate Cut Should Not Deter
Further PBOC Hikes
Qing Wang
Asia/Pacific
14 Asia/Pacific Strategy Market Outlook: Tug-o-
War and Then Higher
Malcolm Wood, Ryan Tsai, Corey Ng
Global
16 Global Strategy and Economics
A Near-term Roadmap
Gerard Minack
18 US Economics
Reintermediation and Monetary Policy
Richard Berner
20 G10 Currencies The US Dollar Is the Sub-prime
Currency, for Now
Stephen Jen
Industry Analysis
22 Asia-Pacific Capital Goods Desalination and
Wastewater – Three New Opportunities
Shawn Kim, Kang-Ho Chong, Hwei Ying Leong, Sophie
Lu, Sung Hee Lim
Company Analysis
24 China Coal Energy Co., Ltd. Time to Catch Up
Wee-Kiat Tan, Sara Chan, Charles C. Spencer
26 Initiation China Everbright International
Limited Initiation of Coverage: Garbage In, Cash
Out
Patrick Dai, Jessica Wang, Simon H.Y. Lee
(continued)

28 Initiation China High Speed Transmission
Equipment Gear Up for China’s Wind Power
Boom
Simon H.Y. Lee, Joseph Lam
30 Initiation Offshore Oil Engineering Co., Ltd.
Mining Offshore Wealth; Initiating at Overweight
Andy Meng, Kate Zhu, Karen Zu
32 ↑ Prime Success Operation Back on Track;
Risk/Reward Looks Attractive
Dennis Tao, Angela Moh, Nancy Lin
34 ↑ Shanghai Industrial Upgrade to Overweight:
Hidden Dragon
Hillman Wong, Rob Hart, Angus Chan, Corey K Chan
36 Initiation Shanghai Jin Jiang International
Hotel Check In for a Long-Term Stay; Initiating at
Overweight
Lin He, Jerry Lou, Jessica Wang
38 Initiation Zhangzidao Fishery Bottom-Fishing;
OW-V
Lillian Lou, Jessica Wang, Angela Moh