China Aug. CPI still up 6.2 % dispite People Bank rate rate 4 times, bank deposit rate to 21.5 %, M2 drop to 14.5 %, Housing price bubble still untouched at its peak, credit tightening will continue into yearend, stocks market contiue bear market correction, making new low, with SHanghai A composite test 2200- 2400, Zshenzhen A test 10,000- 11,000 HE also predicted June 16, 2007 on Peking University international financial engineering risk management conference that China equities and housing market overheated facing credit tightening tightening, Shanghai A B, H shares facing bear marekt correction,( plunged from 6000 to 2000, facing credit tightening , As money supply growth cut to 12 % SHanghai A plunged from 6000 to 1666