♠ Posted by Emmanuel in Casino Capitalism,China
at 3/05/2007 03:12:00 AM
The Wall Street Journal has noted the mangled English or "Chinglish" that officials are trying to stamp out in Beijing before the 2008 Olympic Games start. An entire weblog is dedicated to signs which are in mangled English. Perhaps unfortunately, the central government website is not immune to bouts of Chinglish, as one of its most recent features boldly proclaims--I kid you not--"Chinese nuts about the stock market." This defective headline is a minor blemish to an otherwise informative story which notes that the recent drop in the Shanghai market did little to dampen traders' animal spirits. After all, doesn't the Year of the Pig bring happiness and prosperity? With reference to A-share (citizen-held) accounts:Tuesday's stock market slump, which saw shares drop by 8.84 percent, the biggest daily drop in 10 years, did nothing to buck the trend with a record 130,000 new accounts opened.A further 220,000 new accounts were opened in the next two days, bringing the total number of personal accounts on the two bourses to 82.99 million.
Analysts estimate that around 520,000 new accounts will be opened this week, as much as for the whole month of May 2006.
