China Stocks Rallied Tuesday On Optimism China’s Government May Relax Policy Tightening Measures

The International Strategy & Investment Group announced that China will relax policies that were aimed at curbing its housing industry. China will “back away” from its tightening policies in the housing market within three months as the economy faces a bigger risk from a slowdown than inflation, according to Donald Straszheim, senior managing director for China research at ISI. China’s slower growth shows the nation’s macroeconomic policies are working and that growth has gradually been restored to “normal,” Yi Xianrong, a researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, wrote in a commentary published in today’s China Daily newspaper.

Chinese domestic consumption will continue to grow at a relatively fast pace in the second half of this year, a government spokesman said in Beijing today. China should use “flexible measures” such as providing more subsidies for the poor and reducing tax duties to curb inflation, the China Securities Journal reported today, citing Li Daokui an advisor to the central bank. China won’t face an economic double dip in the second half of this year, Zhu Hongren, the Ministry of Industry and Information Technology’s chief engineer, said at a briefing.

The China 100 stock index climbed back 13.42 points or 1.64% to 833.79. The Panda China Large Cap Stock Index won 17.50 points or 1.79 % to close at 995.94. The Tiger China Small & Mid Cap Stock Index jumped 15.18 points or 1.90% to close at 813.13 and the Dragon China Undervalued Stock Index gained 5.65 points or 0.82 % to close at 698.34.

RedChip Companies, Inc., today announced that Clayton Fong, Executive Vice President of U.S. Operations at L & L Energy (LLEN) [10.32, 0.66, +6.83%] will deliver the keynote lunch presentation at 12:20 p.m. EDT during the RedChip 2010 Midsummer Elite Equities Conference on July 21, 2010 at the NASDAQ MarketSite (4 Times Square) in New York City. L&L, a U.S.-based company operating coal businesses in China, is one of 14 emerging growth companies scheduled to present at the conference. RedChip investor conferences are a nationally known forum at which emerging small-cap companies present their stories to hundreds of retail brokers, institutional brokers, fund managers, portfolio managers, accredited investors, and research analysts whose disciplined focus toward the small-cap markets represents their core investment strategies.

AgFeed Industries Inc. (FEED) [3.01, 0.11, +3.79%] a China-based pork and animal feed manufacturer said Tuesday it will buy U.S. hog producer M2P2 LLC for $16 million in cash and stock in a move to further modernize its farming methods and nearly triple its hog production by 2015. With sow operations in Colorado, Oklahoma and North Carolina, and finishing operations centered in Iowa, M2P2 produces 1.3 million pigs annually. The Ames, Iowa-based company teamed up with AgFeed last May to establish a management company in Asia, AgFeed International Protein Technology Corp., which is focused on introducing the Western model of pork production to China and Asia.

AgFeed, a U.S. company with its primary operations in China, says the purchase price is comprised of 80 percent cash and 20 percent AgFeed stock. It is expected that M2P2 Chairman John Stadler will join AgFeed’s board when the deal is completed. The company said the deal won’t impact staffing and all employees will be retained. Fred Rittereiser, a special adviser to AgFeed, said the M2P2 acquisition will help AgFeed boost its hog production by implementing more efficient Western-style production methods.

Agilysys, Inc., a provider of information technology and hospitality software solutions, announced that Melco Crown Entertainment Limited (MPEL) [3.85, 0.12, +3.22%] a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, has selected the Stratton Warren System inventory and procurement solution for its gaming properties in Macau. The solution will be implemented at Altira Macau, an upscale casino hotel located in Taipa; City of Dreams, an integrated urban resort located in Cotai that includes hotels, casinos, restaurants, retail shops and entertainment; and the Mocha Clubs, which feature approximately 1,500 gaming machines in eight locations, comprising the largest non-casino based operation of electronic gaming machines in Macau.

Solarfun Power Holdings Co., Ltd. (SOLF) [9.67, 0.38, +4.09%] a vertically integrated manufacturer of silicon ingots and photovoltaic (“PV”) cells and modules in China, today announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has obtained a credit facility in the amount not exceeding RMB6 billion, or an equivalent amount of foreign currency, from Bank of Shanghai, Nanjing branch (the “Bank”). The contract has a term of 5 years. Specific drawdowns against this facility are subject to internal review and approval by the Bank.

Trina Solar Limited (TSL) a leading integrated manufacturer of solar photovoltaic (“PV”) products from the production of ingots, wafers and cells to the assembly of PV modules, announced that it will hold its 2010 Annual General Meeting of Shareholders on Friday, August 6, 2010 at 9:00 a.m. Beijing Time. The meeting will be held at the Board Room, Changzhou Trina Solar Energy Co., Ltd., No. 2 Tian He Road, Electronics Park, New District, Changzhou, Jiangsu Province, 213031, People’s Republic of China. All shareholders of record as of June 29, 2010 will be eligible to vote. Shares of Trina Solar gained today 0.62 points or 2.69% to 23.70.

Mindray Medical International Limited (MR) a leading developer, manufacturer and marketer of medical devices worldwide, today announced that it will report its financial results for the second quarter ended June 30, 2010 after the U.S. market closes on August 9, 2010. Mindray’s management will hold an earnings conference call at 8:00 AM on August 10, 2010 U.S. Eastern Time (8:00 PM on August 10, 2010 Beijing/Hong Kong Time). Mindray closed today trading session with a gain of 5.43% to 30.11 per share.

Thanks To : CHINAVESTING

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