China’s military has used annual budget increases in excess of 10 percent to buy precision-guided weapons, fighter jets and an aircraft carrier. Now it’s seeking to upgrade its recruits to operate them.
Developing-nation stocks rose, sending the benchmark index to a one-week high, after China reported higher-than-estimated retail sales and the European Central bank increased its economic growth forecast.
Agricultural Bank of China Ltd. is a “must buy” for investors as it is a proxy for the development of the nation’s rural areas, Atlantis Investment Management Ltd.’s Liu Yang said in a Bloomberg Television interview.
Hong Kong stocks gained for a second day as oil-related shares increased after China raised gasoline and diesel prices, and U.S. retail sales jumped last week, fueling optimism the economic recovery is on track.
Chinese equities traded in the U.S. rose the most in a month, led by solar and oil companies involved in overseas acquisitions, as manufacturing increases from China to the U.S. suggested production will withstand Europe’s debt crisis.
China’s leadership change “removes the biggest overhang” for the nation’s equities as the new government is determined to carry out reforms, according to Victoria Mio, portfolio manager at Robeco Hong Kong Ltd.