China moves down 0.57% Citigroup bid to buy HK $6.1

China's movement (03818-HK) is now down 0.57%, at HK $5.20, for a deal of HK $63.8087 million, which is now winning the big city, with the index falling 2.62%. Citigroup's first comment on the purchase rating of the shares, the target price of HK $6.10. Although the unit has risen 168% per cent this year, Citi believes it is not fully valued, 14 times times the 2010-year price-to-earnings ratio, and a composite annual growth rate of 2009-11 per cent for core profits of 18%.　　Compared with its peers, China's retail outlets are small in size and believe there is still potential for growth, the bank said. The bank expects China's kappa outlets in China to increase from 2,808 in 08 to more than 4,700 in 2011. Added that the outlook for the industry in the 2010 looks good; the operating environment will become more profitable in the coming year, as inventory levels return to normal and deflationary pressures will create a more favourable pricing environment.