NEW YORK, NY--(Marketwire - Oct 24, 2011) - Chinese internet stocks have struggled this month as reports of a slowing Chinese economy has led to growth concerns for tech companies. China's internet population was growing at a rate of six million per month according to research conducted by the consultancy McKinsey&Co earlier this year. The Bedford Report examines the outlook for companies in China's Internet Sector and provides stock research on Renren, Inc. (NYSE: [ RENN ]) and Sina Corporation (NASDAQ: [ SINA ]). Access to the full company reports can be found at:

[ www.bedfordreport.com/RENN ]
[ www.bedfordreport.com/SINA ]

China's third-quarter gross domestic product was up 9.1% from a year earlier, slowing from 9.5% growth in the second quarter and 9.7% growth in the first, China's National Bureau of Statistics said last week. Growth fell short of the median 9.2% forecast of 14 economists surveyed by Dow Jones Newswires.

"If the GDP growth reading was 9.2% or 9.3%, the market may think it's acceptable, but 9.1% looks worrisome, especially compared to the second quarter's 9.5%," said Qian Qimin, an analyst at brokerage Shenyin Wanguo.

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SINA Corporation provides online media and mobile value-added services (MVAS) in the People's Republic of China. It provides advertising, non-advertising, and free services through SINA.com, Weibo.com, and SINA Mobile. Earlier this month a Chinese Internet regulator called for stricter policing of the nation's microblogs while also encouraging officials to use them to engage with citizens, state news agency Xinhua reported.

Renren Inc. operates a social networking Internet platform in China. Earlier this month Renren and SkyGrid Inc., the #1 most used news app, jointly announced the launch of a custom capability for Renren users to share when using SkyGrid for iOS.

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