In-line gas sales volume growth target Quick Note First Read: Dongyue Further deterioration; warned but still bad Chart Of The Day SHIMAO PROPERTY 1HFY13 beats consensus by ~10% Quick Note Inflation jumped to 6.9% YoY in July, distorted up by the public rent waiver last year The SHIBOR moved up whilst the PBoC conducted reverse repo 1H13 EPS 14% above consensus Solid 1H13, but outlook clouded by tax change CRE 1H13 first take – result miss on beer and food