On Chinese stock market performance.

• Author: Rees, Matthew
• Position: China

"Over the past decade China's p/e ratio has averaged 37, much higher than elsewhere. According to Goldman Sachs, firms listed on the A-share market enjoyed an average 82 percent increase in profits in the year to the first quarter. It is also worth noting that China's recent surge followed many years of decline. As a result, China has been...