BEIJING–With a strong push to accelerate growth with easy credit and state spending, China managed to eke out a 6.7% rise in economic growth for 2016.
The rate was well within leaders’ target range for growth of between 6.5% and 7%. Nevertheless, it was the third year in a row Beijing posted the lowest annual growth in a quarter-century, and economists say it only got there by relying heavily on short-term measures that are likely to delay much-needed reforms to bloated state-owned companies and the country’s inefficient financial system.
The push accelerated in the year’s second half. Growth in the final quarter of the year was 6.8%, China’s National Bureau of Statistics said Friday, the fastest pace all year after three straight quarters of 6.7% growth.
Best China Stocks To Buy Right Now: Renesola Ltd.(SOL)
- [By Joseph Griffin]
These are some of the media headlines that may have impacted Accern’s scoring:
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ReneSola Sells North Carolina Solar Project To Greenbacker (solarindustrymag.com) ReneSola (SOL) Rating Increased to Neutral at Roth Capital (americanbankingnews.com) ReneSola (SOL) Q1 Earnings in Line, Revenues Top Estimates (zacks.com) ReneSola’s (SOL) CEO Xianshou Li on Q1 2018 Results – Earnings Call Transcript (seekingalpha.com) ReneSola (SOL) Releases Earnings Results (americanbankingnews.com)
Shares of ReneSola traded up $0.08, hitting $2.76, during trading on Friday, Marketbeat.com reports. The stock had a trading volume of 124,969 shares, compared to its average volume of 108,565. The firm has a market capitalization of $102.11 million, a PE ratio of 21.23 and a beta of 2.05. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. ReneSola has a 12 month low of $2.12 and a 12 month high of $3.79.
Best China Stocks To Buy Right Now: Focus Media Holding Limited(FMCN)
- [By Stephan Byrd]
An issue of Focus Media Holding Limited (NASDAQ:FMCN) debt fell 1.1% against its face value during trading on Tuesday. The debt issue has a 7.5% coupon and is set to mature on April 1, 2025. The debt is now trading at $97.63 and was trading at $98.50 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
Best China Stocks To Buy Right Now: Baidu Inc.(BIDU)
- [By Ethan Ryder]
Baidu (NASDAQ:BIDU) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday.
- [By Paul Ausick]
The company is controlled by China’s largest internet search firm, Baidu Inc. (NASDAQ: BIDU), which holds about 93% of the company’s voting power. Based on the IPO price, iQIYI has a market cap of around $13.67 billion, and Baidu will retain ownership of more than 80% of the class A common stock.
- [By Rick Munarriz]
Getting back to basics is a good look for Baidu’s (NASDAQ:BIDU) financial statements. China’s leading search engine came through with its best top-line growth since 2015 for this year’s first quarter. Revenue topped the high end of its earlier guidance — as it did last time out — with earnings growing even faster.
- [By Stephan Byrd]
Baidu (NASDAQ:BIDU) shares gapped down before the market opened on Monday . The stock had previously closed at $243.64, but opened at $253.01. Baidu shares last traded at $243.57, with a volume of 10970198 shares changing hands.
- [By Leo Sun]
Baidu (NASDAQ:BIDU), Alibaba (NYSE:BABA), and Tencent (NASDAQOTH:TCEHY) are considered fierce rivals in China’s tech market. Baidu owns the country’s top search engine, Alibaba’s owns its biggest e-commerce marketplace, while Tencent dominates the social media and video gaming markets.
- [By Keith Fitz-Gerald]
Take China, for example. It’s long been one of the president’s favorite targets, yet the nation’s companies are stepping onto the global stage far faster than most Westerners can comprehend. Alibaba Group Holding Ltd. (NYSE: BABA), for example, threatens Amazon.com Inc. (Nasdaq: AMZN) in key markets around the world. Baidu Inc. (Nasdaq: BIDU) is gearing up for a fight with Alphabet Inc. (Nasdaq: GOOGL).
Best China Stocks To Buy Right Now: Top Image Systems Ltd.(TISA)
- [By Ethan Ryder]
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