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Tele interview: Impact of US debt on Chinese market limited; more focus on companie

08-10-2011 09:21 BJT

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Since S&P's downgrade of the US credit rating, drama has ruled the global financial system. But one Chinese expert says, take a step back and consider - are markets overreacting? Here's Ba Shusong, a researcher at the State Council's Development Research Center.

Ba said, "The net profit of listed companies rose annually around 25 percent in the first quarter. And as of now, the net profit of public companies who have published first half reports rose 32 percent compared to the same period last year. The US debt problem has impacted Chinese markets, but it's limited. Currently, the average P/E ratio of the A-share market has dropped to 17 times from 26 at the beginning of the year. Even though some investors are panicking over the US debt problem, we should focus on the companies themselves, because that decides the future trend of the market."

Editor:Li Wanran |Source: CNTV.CN

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