The chairman's words are to be taken seriously, in my view. The company trying to tone down his words is being prudent and conservative -- this is the Singapore style. LOL.
""Mr. Shi was further quoted to state that future financing would not be a problem and the subscription by CDBIH of shares in the Company shall bring positive sentiment in 2014 which will be reflected in the results of the Group. In the long run, the market capitalisation
of the Company will be substantially increased and the Company shall develop to a size similar of China Vanke Co. Ltd.
""The Company clarifies that the former statement is a
statement of fact that the Company does not foresee any problems of obtaining financing for its current business needs, and the latter statement is merely the personal wish of Mr. Shi that the Company shall expand and develop to a size similar of China Vanke Co. Ltd.""
Any analyst coverage in HK on this stock? It is heading for the Big Time, I think, if the China bank successfully completes the placement in the next few months.
Any analyst coverage in HK on this stock? It is heading for the Big Time, I think, if the China bank successfully completes the placement in the next few months.
BEIJING — China is pushing ahead with a sweeping plan to move 250 million rural residents into newly constructed towns and cities over the next dozen years — a transformative event that could set off a new wave of growth or saddle the country with problems for generations to come.
The government, often by fiat, is replacing small rural homes with high-rises, paving over vast swaths of farmland and drastically altering the lives of rural dwellers. So large is the scale that the number of brand-new Chinese city dwellers will approach the total urban population of the United States — in a country already bursting with megacities.
This will decisively change the character of China, where the Communist Party insisted for decades that most peasants, even those working in cities, remain tied to their tiny plots of land to ensure political and economic stability. Now, the party has shifted priorities, mainly to find a new source of growth for a slowing economy that depends increasingly on a consuming class of city dwellers.
The shift is occurring so quickly, and the potential costs are so high, that some fear rural China is once again the site of radical social engineering. Over the past decades, the Communist Party has flip-flopped on peasants’ rights to use land: giving small plots to farm during 1950s land reform, collectivizing a few years later, restoring rights at the start of the reform era and now trying to obliterate small landholders.
Urbanisation in China is a very powerful trend and China New Town Development is riding the wave. No wonder it has woken up from a slumber +0.9 cents (+8.5%) and trading at 11.5 cents.
