From the Financial Times:"Cheng Siwei, vice-chairman of the National People’s Congress and an influential figure in Beijing financial circles, warned the mainland stock market could be overheating, after a rise of 130 per cent last year.
“There is a bubble going on. Investors should be concerned about the risks,” Mr Cheng said in an interview with the Financial Times."
From CHINAdaily:
"In a bull market, people will invest relatively irrationally. Every investor thinks they can win. But many will end up losing. But that is their risk and their choice."
From Forbes Magazine:
"On Wednesday, the Chinese government launched what some viewed as an inaugural effort at jawboning a cooling off without taking any overt actions. In Dubai, Cheng Siwei, vice chairman of the National People's Congress and a leading Beijing financial figure, warned that barely a third of the companies listed on the Shanghai Stock Exchange are even worth investing in, while the rest are likely to lose money.
Chinese stocks promptly cratered across the board. The principal Shanghai averages promptly shedding 6.5%--the biggest one-day drop since the indexes were introduced nearly two years ago."
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