NEW YORK, NY -- (Marketwire) -- 07/23/12 -- After a strong start to 2012, Chinese internet stocks have lagged the market of late as the recent slowdown in China's economy has soured investor optimism in the sector. TickerSpy's China Internet Stocks Index (CHDOT) has fallen nearly 12 percent over the last month. The Paragon Report examines investing opportunities on Chinese Internet Stocks and provides equity research on E Commerce China Dangdang Inc. (NYSE: DANG) and SINA Corporation (NASDAQ: SINA).
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China's economic growth fell to a new three-year low recent data from the National Bureau of Statistics showed. In the last quarter gross domestic product (GDP) grew by 7.6 percent from the year previous, this compares to an 8.1 percent gain in the previous quarter. "The question is not how deep the economy falls, but how long it will stay low," said Dong Tao, chief China economist at Credit Suisse Group AG. "China needs structural reforms, not just monetary or fiscal expansion."
According to data release from an industry group Thursday China's online population, which is currently the largest in the world, has risen to 538 million users. The China Internet Network Information Center in their report showed that online users increased 11 percent from a year earlier.
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E-Commerce China Dangdang Inc. operates as a business-to-consumer e-commerce company in the People's Republic of China. It engages in the sales of Chinese and foreign language books, and music CDs, VCDs, and DVDs through its Website dangdang.com. Shares of the company have fallen nearly 25 percent in the last month.
SINA is an online media company serving China and the global Chinese communities. The company's digital media network of SINA.com (portal), SINA.cn (mobile portal) and Weibo.com (social media), enable Internet users to access professional media and user generated content (UGC) in multi-media formats from the Web and mobile devices and share their interests to friends and acquaintances.
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