Editorial Summary

The Shanghai Composite Index decreased 2.76% to close at 2,794.751
while the Shenzhen Composite Index fell 4.53% to close at 801.97 on
Tuesday. Trading volume on the Shanghai and Shenzhen Stock Exchanges
reached RMB 43.841 billion and RMB 23.656 billion, respectively.

Shares of Sinolink Securities (600109.SH), CITIC Securities
(600030.SH), Changjiang Securities (000783.SZ), Haitong Securities
(600837.SH) and Northeast Securities (000686.SZ) sank 5.32%, 6.99%,
9.98%, 10%, and 10.02% on Tuesday, respectively. Shares of
Shanghai-based software company Hyron Software (002195.SZ),
Beijing-based Bright Oceans Corporation (600289.SH) and
Guangdong-based Yuanguang Software (002063.SZ) rose 6.6%, 1.83%, and
0.79%, respectively.

China Construction Bank (CCB) (601939.SH, 0939.HK) plans to acquire a
51% stake in Happy Life Insurance Co., Ltd, for up to RMB 2 billion,
reports Finet.hk. Happy Life Insurance expects to sell a stake in the
company through the issue of new shares at RMB 1.5 to RMB 2 per share,
said the report quoting Happy Life Insurance president Meng Xiaosu.
The report said that Happy Life Insurnace is currently negotiating
with CCB on price. Happy Life Insurance officially began operations in
October 2007 with registered capital of RMB 1.16 billion. The company
was set up by 15 enterprises including China Cinda Asset Management
Corporation(Cinda) and China Travel Service Group (CTS Group).