NEW YORK, NY -- (Marketwire) -- 11/27/12 -- Chinese stocks received a boost last week as China's soft economy, which is set to grow at the slowest pace in over a decade, showed some much needed signs of improvement. The Bloomberg China-US 55 Index (CH55BN), which tracks the performance of the top 55 Chinese equities trading in the US, surged 2.3 percent last Friday. The Paragon Report examines investing opportunities in Chinese Equities and provides equity research on China Auto Logistics Inc. (NASDAQ: CALI) and China BAK Battery Inc. (NASDAQ: CBAK).
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A recent survey has shown that manufacturing in China, the world's second largest economy, expanded for the first time in 13 months. HSBC's Purchasing Managers' Index last week rose to 50.4 for November, any reading above 50 signals expansion. China's leaders have slashed interest rates twice since June and have announced $150 billion in infrastructure projects in attempts to boost its slowing economy.
"It shows that the policy easing has continued to support a growth recovery, and reinforces our view that growth will pick up strongly in the fourth quarter to 8.4% from 7.4% in the third quarter," said Nomura economist Zhiwei Zhang.
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China Auto Logistics is one of China's top sellers of imported luxury vehicles, and also manages China's largest imported auto mall in Tianjin. The company has recently reported that revenues surged 78.3 percent to $170,456,821 in the third quarter, which was driven by an 83.4 percent increase in Automobile sales.
China BAK Battery is a leading global manufacturer of lithium-based battery cells, with production capacity of 1.5 million pieces per day and annual sales revenues of RMB 1.5 billion. In August, the company reported it has received a sample order to supply its lithium-ion batteries to FAW-Volkswagen Automotive Co., Ltd.
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