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Sinomania! the truth about china
China SEARCH Engine
Volume II, Episode 55
April 8, 2008
Chinese Stock Market Doldrums - China Wants Africa's Oil - Boycott Beijing 2008 Olympic Games?

April 2, 2008

Chinese 3G Wireless Testing - Bear Market Blues - GSM Mekong Summit

March 24, 2008

Kuomintang Wins Taiwan - Business Gains on Gradual Reunification - Chinese Markets Bearish

March 17, 2008

Shanghai Bubble Burst? Beijing Election - A Special Comment on Tibet

March 12, 2008

Beijing Plays Musical Chairs: Report on the National People’s Congress - Chinese Stocks Tank!

March 5, 2008

Markets Plunge - Sovereign Wealth Fund - IPOs - National People's Congress convenes

February 21, 2008

Private Equity Buys Chinese - Macro Update - Sovereign Wealth Fund IPOs - more!

February 13, 2008

General Motors Turns Chinese - New China Funds - Coal Boom?

February 6, 2008

Macro Effects of Winter Storms - IPOs - Happy Year of the Rat! - more

January 29, 2008

Chinese Stocks: Correction or Bear? Davos 2008 - IPOs!

January 20, 2008

Four predictions for where Chinese stocks will be in 2008 - plus more!

December 31, 2007

A brief look back at some of the images of 2007

December 20, 2007

Markets Sag - Chevron Gas Deal - Aging Time Bomb? - Property ETF - IPOs - more!

December 10, 2007

US-China Summits in Beijing - QFII Up to $30 Billion (US) - IPOs losing steam?

November 27, 2007

Chinese Stock Prices Melt - Sarkozy Up to Beijing - IPO Updates - Will Trent Lott Lobby for Taiwan?

November 20, 2007

Currency Crisis! Dollars Drained by China, OPEC Continue Down - Inflation

November 14, 2007

Time to Short China's Yo-Yo Market? - Mining In or Out? IPOs - more

November 2, 2007

Oil Shock! Price Problems At the Chinese Pump - Stocks: Where's the Correction?

October 24, 2007

SPECIAL REPORT: 17th Party Congress - Shanghai Bubbles? - Market Numbers

October 15, 2007

China Bull Run Gets New Highs - PetroChina - IPOs - Money - more

October 9, 2007

Chinese Stocks Up & Up - IPOs - Iron & Steel - Pacific Pipeline - more

October 4, 2007

Hong Kong Booms - Commodities, Inflation, Oil at $100 a barrel? - more

September 25, 2007

UAW Tells GM No Jobs For China - Markets Hit 5,500 - China's Auto Industry - IPOs

September 19, 2007

New IPOs Rock Shanghai! But is Resistance Building? A Big Push for Private Equity…

September 10, 2007

Report on APEC 2007 - Energy Security - Markets Update - IPOs in Hong Kong

August 30, 2007

Chinese Stocks Stay Up - Big Bond Sale - IPOs - Upcoming Party Congress

August 22, 2007

China Stock Markets Get Higher But For How Much Longer? - Surprise Rate Hike - IPO Update

August 14, 2007

China Toy Recall - Markets & IPOs - Western Banks Catch Asian Flu?

August 6, 2007

Shanghai Composite Busts Past 4,600 - Beijing Bets on Banks - Chinese IPOs in Japan

July 31, 2007

China Stocks Up Again & Again! - Pussyfooting Around Currency? - Democracy in Japan?!

July 25, 2007

Will Barclay's Turn Chinese? 2Q/H1 Macro Report + IPOs!

July 19, 2007

Food Fight! China-USA sling hash / Peak Oil? / Markets Flat Line...

July 10, 2007

Chinese markets confused? Big IPOs - Chery+Chrysler

June 27, 2007

COSCO - China Mobile - IPOs - Telecom Mergers & Acquisitions

June 21, 2007

New Record Highs in Hong Kong, Shanghai: Will Beijing Put On the Squeeze? - IPOs & more

June 15, 2007

Fundamental Misalignment: US-China currency war - stock markets up & IPOs

June 7, 2007

China Stock Pop - Hot News items - climate change, tainted food...

May 31, 2007

Chinese stock markets hiccup - IPOs - USA-China Trade Gap

May 25, 2007

Report on the 2nd USA/China Strategic Economic Dialogue: Win-Win or When-When? - Market numbers - New IPOs

May 18, 2007

New life for Hong Kong? IPO Update - USA/China summit

May 11, 2007

Will Shanghai end up like NASDAQ or Nikkei? - IPOs

April 30, 2007

Tulips to Dotcom - is Sino Mania the next big bubble?

April 20, 2007

The Heat is on! - IPO Report - Air Pollution in China

April 15, 2007

China markets, IPO update, Beijing Ready for Olympics?

March 30, 2007

China markets up, up, up! Sinomania! goes to China

March 23, 2007

Focus on National People's Congress... Hi-Tech, IPOs

March 17, 2007

China's new investment strategy, IPOs, the Wrap...

March 7, 2007

China syndrome or hong bao bounce? New IPOs... more!

February 27, 2007

China Stock Market Yo-yo, new IPO issues, the wrap

February 17, 2007

Chinese New Year edition! Will China buy Chrysler & more!

February 9, 2007

The USA-China WTO trade dispute and New IPOs

February 1, 2007

IPOs: New Red Chip — Bubble Burst? — USA-China

January 26, 2007

BUBBLE TROUBLE? — IPOs on NASDAQ — Renminbi Yuan

January 20, 2007

IPOs in 3 hot sectors — BAOSteel — Macro Report

HKEX Hang Seng Shanghai
SSE Shanghai Hong Kong
SZEX Shenzhen Beijing
MUSIC in China: Listen!

TRANSCRIPT: Chinese shares still bearish, China turns to Africa for new oil supplies, and just who is behind the boycott Beijing Olympics campaign?
Sinomania! Volume II Webisode 55, April 8, 2008

Have Chinese Stocks Hit Bottom?
A Look at China’s Energy Sector;
And Boycott Beijing?


Chinese stocks remain down despite a brief recovery from the dramatic lows of last week but Hong Kong and Taiwan continue to perform better. The Hang Seng Index closed April 8 at 24,311 down one percent but close to 25,000 for the first time since the start of the year. The Hang Seng China Enterprise Index recovered some but remains very volatile; it closed April 8 at 13,196, down almost two percent.

Shanghai shares are mostly flat with modest gains of around one percent. The Shanghai Composite Index closed Tuesday at 3,612.54 a slight recovery from its lows last week – at one point it dipped below 3,300. Some analysts said last fall the index was sustainable at 3,600 based on reasonable valuations. The question now may be can the index move higher if listed companies’ earnings start to slow or even fall?

The CSI 300 Index was back up April 8 but not by much rising one percent to 3,891. Shanghai B shares closed at 255.61 April 8 up a percent – have they hit bottom? ShenZhen Bs remain flat closing at 560.

On Taiwan the TAIEX closed April 8 at 8,672.85 down some points Tuesday but already up over 1,000 points since the first quarter ‘08 lows.


At the end of 2007 Beijing released a white paper of China’s energy situation and policies. As part of the government shake up in the new 11th National People’s Congress, there is now a National Energy Commission and a National Energy Bureau.

A study commissioned for these new ministries was just released by the Chinese Academy of Social Sciences and projects oil consumption in China to grow sixty-two and a half percent from 2006 levels by 2020 to 536 million tons a year about half the level of total consumption in the United States.

To give an idea on how China will impact oil markets into the future, oil demand is expected to grow on average 3.3 percent a year to 2020 but oil products demand will grow higher at 4.2 percent a year. Gasoline demand is projected to grow at almost six percent a year, diesel at over four percent, and kerosene at five percent per year to 2020.

China is racing to diversify its sources of oil imports with particular focus on Africa as a supplier. The head of the China Petroleum and Petrochemical Industry Association, Zhiming Zhao, told an energy conference in South Africa last month that China hoped to get 40% of its oil from Africa within a decade. To date China has invested $30 billion US dollars in African oil and gas industries.

China National Petroleum Corp. or CNPC the parent of Shanghai, Hong Kong and New York listed PetroChina (PTR), recently began its first deep water exploration project off the coast of Equatorial Guinea.

All Chinese oil and gas majors (CNPC and subsidiaries, Sinopec (SHI), CNOOC) are busy in Nigeria, the biggest oil producer of Africa and the USA’s number four supplier.

This past Sunday, CNPC and the American Chevron (CVX) Corporation began a joint venture for gas exploration and production in the Chuandongbei area of Sichuan Province, a project first reported by The Sinomania! Show on December 20 last year. The block will be run by Chevron and has 176 billion cubic meters of proven gas reserves of high sulphur type.

Yesterday, April 7, the German Energy Bureau and the Chinese State Administration of Foreign Experts Affairs signed an agreement to train hundreds of energy managers in China to 2010. Also in Germany, Siemens (SI) Energy announced today a major order of gas pipeline equipment for China Petroleum Material Equipment Corp. (CPMEC), another subsidiary of PetroChina’s parent company, to expand the Shanjing II natural gas pipeline from Shanxi to Beijing.

Meanwhile SinoUranium and other Chinese companies are busy securing uranium supplies in Niger and Australia to feed China’s ambitious atomic power program.


Despite exaggerated coverage by mainstream TV and newspapers in America and parts of Europe the Beijing Olympics boycott movement has failed to garner any real support. Last night a CNN reporter in London told newsreader Campbell Brown that the Chinese were shown pictures of Big Ben and the Tower of London and didn’t know about the small group of protesters that disrupted the Olympic torch relay there. Nothing however could be further from the truth. Chinese television broadcast video from London and Paris in great detail. And why not? The disruption of the torch relay in both cities only proves Beijing’s point that it is the boycott crowd who resorts to violence and hate.

Seven years in and the Reporters Without Borders led campaign to derail the 29th Olympiad in Beijing this summer is faltering. Despite funding from American taxpayers via the National Endowment for Democracy, money from Taiwan’s TECRO network, and free publicity from a bevy of Hollywood has beens, protests have been small, short, and ineffective. Crowds in London and Paris where “spectacular” protests were promised by RSF’s advance press releases, barely numbered in three digits and were so small that police appear to have arrested the same guy trying to snuff out the Olympic flame in both cities.

The calls for boycott by politicians Nancy Pelosi and Hillary Clinton in the USA and Nicolas Sarkozy in France are due to their abysmal approval ratings and need to pander to a disenchanted electorate. The Summer Olympics in Beijing will go on. The Prime Ministers of Britain, Canada, Australia, President Bush, and the Dalai Lama himself – just to name a few – are all against a boycott.

I’ll see you next time on The Sinomania! Show.

© Sinomania! 2008 All Rights Reserved.

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