Chinese stocks are pushing record lows. The Hang Seng China Enterprises index could be bought for 1.33 times book value on Friday. The last time the finest red-chips were trading that cheaply, almost exactly three years ago, policymakers swung into action with interest rate cuts, a bank-loan binge and Rmb4,000bn of fiscal stimulus. This time, the prospect of a similar package looks remote indeed.
manbetx3.0 股市正逼近历史低点。上周五，恒生manbetx3.0 企业指数(Hang Seng China Enterprises Index)的市