Editorial Summary

On the last trading day of 2007, the Shanghai Composite Index fell 0.89 percent to close at 5,261.6, while the Shenzhen Composite Index decreased 0.44 percent to close at 1,447. Trading volume on the Shanghai and Shenzhen Stock Exchanges reached 133.7 billion Yuan and 60.8 billion Yuan, respectively. The Shanghai Composite Index rose 92.9 percent in 2007, while the Shenzhen Composite Index increased 160 percent for the year. The Shanghai Index's high for 2007 was 6,124 on October 16.

Shares of Pacific Securities (601099.SH) closed at 41.92 Yuan, up 424 percent from their opening price of RMB8 on their Friday debut in Shanghai. Pacific Securities is the seventh securities company to list on the A-shares market. Shares of Changjiang Securities (000783.SZ) slid 5.76 percent to close at 38.26 Yuan on their second trading day in Shenzhen.

China Everbright Group's banking unit China Everbright Bank plans to list in the first half of 2008 on the Yuan-denominated A-share market, to raise more than RMB20 billion, reports Oriental Morning Post quoting an unnamed insider. According to the insider, China Jianyin Investment Securities, Shenyin Wanguo Securities and Galaxy Securities will be the deal's underwriters. Everbright Bank also plans to list on the Hong Kong Exchange (HKEx) after its A-share listing to raise between US$2-3 million, said the report. Morgan Stanley and China International Capital Corporation will underwrite the bank's H-shares.