Chinese Stock Traders Hit Hard
60 per cent of individual investors in China lost more than 70 per cent of their investment, a new survey by the Shanghai Securities News and Stockstar.com shows. Out of 25,110 polled investors, another 22 per cent said they lost between 30 and 50 per cent of their investment. Some 70 per cent said they had staked 50 per cent or more of their total assets in the stock market. Shanghai's stock exchange lost close to 70 per cent of its value in 2008, "evaporating over RMB2 trillion", state media reports.
Insurers Increase Premium Income
Chinese insurers generated premium income of RMB915.05 bn in the first
eleven months of 2008, the Insurance Regulatory Commission said in a
statement. This is an increase of 42 per cent year-on-year. Property
insurance premium revenue rose 17.5 per cent, to 215.9 bn, and life
premium revenues rose 51.8 per cent, to RMB699.14 bn. Payouts on
insurance claims hit RMB267.5 bn, up 32.7 per cent.
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