“Any price that can be affected by the market must be left to the market?.?.?.” Hardly as snappy as Deng Xiaoping’s black or white cat. But, coming from the great Decision on China’s economic future, those words take the imagination far and wide. The Third Plenum, a top meeting of party brass, also promised to relax the one-child policy. Investors had best be cautious about Shanghai-listed Humanwell Healthcare. Its shares are 29 times forward earnings. It makes condoms.
“凡是能由市場形成價格的都交給市場……”這句話沒有鄧小平的“貓論”那么活潑利落。然而，作為關乎中國經濟未來的《決定》中的話，它引發了廣泛而深遠的想象。作為黨內高層的重要會議，三中全會還承諾將放松獨生子女政策。投資者最好對在上海上市的人福醫藥(Humanwell Healthcare)采取謹慎態度。該公司股票的預期市盈率達到了29倍，而其產品是避孕套。
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