TRANSCRIPT: China Clean Tech Green
Energy stocks renew investor interest; the hot
air fizzles at the G8 Summit; new report says
China to surpass United States can double again
by mid century, more...
Sinomania! Volume II Webisode 60, July 9, 2008
Last week the Shanghai Composite
sank to just above 2,600. It has been inching
its way up since Friday and closed today at 2,921
after a gain of 3.75 percent.
Here’s a look at what’s happening
with Chinese clean tech, green energy stocks:
NASDAQ listed A Power Energy
Generation Systems or Chardan South China,
trading under symbol APWR,
shot up over fifteen and half percent today on
news that the company had completed the first
phase of its wind turbine plant and is on schedule
to expand next year. The facility under construction
in Shenyang in Manchuria will be the largest in
China with capacity to produce 720 large wind
turbines from 750 kilowatt to 2.5 megawatt size
beginning this year.
China Wind Systems rose about
three and a quarter percent today on announcement
of new executive leadership. The company trades
on the Over the Counter market as CWSI.OB
and its affiliate Huayang Electrical Power Equipment
Company supplies equipment for large wind turbines.
Investment is pouring into the Chinese
wind sector. Arcapita, an investment bank
in Bahrain, along with the Indian Tanti Group
(which owns a majority stake in the Indian wind
turbine producer Suzlon Energy) bought
Honiton Energy Holdings – an unlisted Chinese
company that was planning a Hong Kong IPO – the
joint venture plans to spend up to $2 billion
US dollars developing wind farms in Inner Mongolia.
Canadian Solar, a Chinese
manufacturer and developer of solar modules, was
down over two percent today despite news that
the company received huge orders from power companies
in Italy and the Czech Republic. Incorporated
in Canada the company trades on NASDAQ with symbol
CSIQ.
China Technology Development
Group, a solar energy developer specializing
in amorphous silicon thin film, will jointly develop
a “ Solar City ” in Xiamen with an affiliate of
China Merchants Bank. The ground breaking was
held along Xiamen Bay and attended by energy luminaries
from the United States and Taiwan among others.
The company’s stock trades on NASDAQ CM as CTDC
but lost over six percent today.
Other Chinese solar stocks, JA Solar
Holdings (JASO),
China Sunergy (CSUN),
Trina Solar (TSL),
and Suntech Power (STP)
all fell today inline with American markets.
This Friday China Land and Housing
Development CEO Pingji Lu will ring the closing
bell at the NASDAQ market site in Times Square
Manhattan to mark the company’s listing transfer
to the NASDAQ Capital Market. China Land and Housing
trades under symbol CHLN
and shares were flat today. The Xi’An based company
is the only Chinese real estate development firm
listed on NASDAQ. So an interesting China property
play there.
G8 2008
This year’s G8 summit concluded
today in Toyako, Japan, with few results. The
G8 – then the G7 - was born of the first oil price
crisis in 1973 but it is not known for accomplishing
much despite heavy pressure lately to do something
about decreasing air pollution. The meeting adjourned
with no progress on getting the world’s biggest
polluters, the United States and China, to reduce
carbon dioxide emissions. China and India both
retain their special exempt status by being so-called
“developing” nations.
Chinese President Hu Jintao made
a presentation on the topic and called for the
acceptance of the Kyoto Protocol and for “scientific
and technological progress and innovation, as
an effective means to mitigate greenhouse gas
emissions.”
CHINA NUMBER
1 BY 2035?
According to the prestigious and
often highly influential Carnegie Endowment
for International Peace, the Chinese economy
will surpass the USA by 2035 and possibly be double
in size by mid century, far outpacing any other
nation. The report, China's
Economic Rise - Fact & Fiction, challenges
the notion that China's development is centered
on exports to the United States and other "developed"
nations.
Many of the report's conclusions
are myth bursting realities that Sinomania! is
devoted to bring to the attention of Americans,
in particular, by to all non Chinese all over
the world – a mission I’ve talked about on this
website now ten years this year. I only hope the
report gets some attention and that the candidates
for President in the United States don’t indulge
this summer in pointless blame China crusades.
Finally, in building up to the Summer
Olympics, so far over 4,000 Chinese babies have
been named Aoyun or Olympics. The games are less
than a month away and I’ll have more to say about
that soon!
