The Chinese stock market is boiling. Investors have driven the Shanghai Composite Index to 3,000 for the first time in a year... It has jumped 63% since January 1. Even so, the index must still double to reach its October 2007 peak - 6,092.
Manufacturing and real estate are leading the way. The Purchasing Managers' Index - a measure of manufacturing's health - is above 50, showing expansion. Export orders have grown for two consecutive months. Property stocks have climbed to their highest levels since March 2008.
