Assessing China

China is currently experiencing an export downturn because of poor economic conditions in the U.S. and Europe.Jing Ulrich of JP Morgan Chase(JPM) notes that the infrastructure and banking sectors are still strong in China.More power plants,ports,railroads and water works are being built.The Chinese financial markets are extremely volatile.In 2007,they were the best;in 2008,they are the worst.One has to keep a long term horizon,Ms.Ulrich feels.British bank HSBC is doing just that,with expansion plans in China.It is opening branches in 3-4 new cities a year.It already has 74 branches in 17 cities.