In an article by the Associate Press yesterday,
China's economy expanded more than 7 percent in the first nine months of the year and will certainly surpass the 2009 growth target of 8 percent, a top economic official said Monday.
"Achieving a growth rate of 8 percent for the year is basically no problem," Xiong, a deputy director of the National Development and Reform Commission, told reporters........
Statistics for September showed improving trade, housing sales, manufacturing and car sales. The data suggest that resilience in retail sales and industrial production are helping offset the blow from falling exports to China's economy.........
Separately, Yu Bin, a senior researcher with the Cabinet-affiliated Development Research Center told a conference over the weekend that growth was forecast to exceed 9 percent in the second half of the year, the financial magazine Caijing reported Monday.
"The internal and external environment for China's economic growth will be better next year," Yu said.These bullish forecast shed glossy light on industrials and basic materials. Copper, used in pipes, power cable and other infrastructure, has been in high demand. The apparent consumption in China is very high compared to inventory. The apparent consumption of China in August was reported to be 578300 tonnes compared to 86625 tonnes of exchange inventory in warehouses at Shanghai, Guangdong and Wuxi of Shanghai Futures Exchange. The price of copper is standing near its 2009 high [Click the diagram to enlarge]
Here is a short list of companies listed in the US stock exchanges: PCU,ETQ,AZC,FCX,TGB,TCK,CHNR, VALE
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Disclosure: The blog author does not own any of the above mentioned stocks in her personal account as of October 20,2009