NEW YORK, NY--(Marketwire -04/12/12)- Chinese small cap stocks have been red hot recently. Chinese based companies have been some of the biggest movers in the market recently, with gains for these companies ranging from 20 percent to as high as 180 percent over the past week. The Paragon Report examines the outlook for China's small cap stocks and provides investment research on Cleantech Solutions International Inc. (NASDAQ: CLNT - News) and NF Energy Saving Corp. (NASDAQ: NFEC - News).
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While a few of these companies had their own reasons for the sudden spikes, there has been one common factor. The China Securities Regulatory Commission (CSRC) nearly tripled the quotas for qualified foreign institutional investors to 80 billion Yuan from the previous limit of 30 billion Yuan. This will allow offshore investors to inject an extra $50 billion Yuan ($7.95 billion) into the country.
Although the dollar amount was not a significant sum it was still symbolically important as it appears that China is loosening its grip on their tightly controlled capital markets. The "move is a sign of a push for greater capital account opening," said Dariusz Kowalczyk, a senior economist at Crédit Agricole in Hong Kong. "It is also a step toward attracting more foreign investment."
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Cleantech Solutions International, Inc., a manufacturer of metal components and assemblies, primarily used in the wind power, solar, dyeing and finishing equipment and other clean technology industries, announced its financial results for the three months and fiscal year ended December 31, 2011. Revenue for the fourth quarter of 2011 declined 38.9% to $13.7 million, compared to $22.5 million for the same period of 2010.
NF Energy Saving Corporation, a leading energy saving services and solutions provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, reported financial results for the fiscal year ended December 31, 2011. Total revenues were $14.93 million for the fiscal year ended December 31, 2011.
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