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Alibaba rolls up for the Year of the OX

Posted by Aliuser on Feb 1, 2009 in Alibaba Hong Kong

Although Aliuser is not an ardent follower of feng shui (風水), it would not against my will to practice good heed for positive future. It’s believed that having a kick-off working day today will usher into a rosy year in general; hence, Aliuser starts the first post in the Year of the Ox (牛年), hoping that it will bring good lucks to all readers!!

During the long Lunar New Year Holiday, Aliuser read a few reports that may be of inspirational to us:

US banker Merrill Lynch latest research report reckons that the economic growth is likely to bottom out between the fourth quarter of 2008 and the first quarter of 2009, which is largely in line with Alibaba Jack Ma’s projection of “The worst scenario will be seen in the first and second quarter of 2009″ China domestic demand will offset the export decline and they are quite confident about an 8 percent GDP growth in 2009.

Morgan Stanley Asia Limited Chairman Stephen S. Roach told Xinhua News that shrinking foreign investment has negative impact on China’s GDP growth (gross domestic products).

In his exclusive interview with Xinhua, Mr Roach said China’s GDP growth would be below 8% in the first quarter this year, but China’s economy was expected to pick up in the second half.

He also suggested China to expand investment in social security, pensions, unemployment insurance and health care strategically, on top of its infrastructure massive investment plans.

Bank of Communication Hong Kong Branch projected that the RMB (renminbi) continue its trend of devaluation and there would be a 10% depreciation. The adjustment of the RMB would be part of China’s fiscal policy to help local battered export sector ride out the worsening economic situation.