China Financial Daily

QQACC - Shopping From China

September 29, 2008

Financial Crisis Effect

Filed under: Financial News — Tags: , , , — Nancy @ 7:31 pm -0700

Asian foreign exchange markets in early trading on the 30th U.S. dollar are against Japanese yen, hitting the lowest in four months
Comprehensive news coverage on September 30: 30 Asian foreign exchange markets in early trading, the dollar is against the yen after touching 103.53 yen, the lowest since the end of May. In the United States 700,000,000,000 U.S. dollars rescue from the House of Representatives is rejected by the accident, leading to the eve of the U.S. stock market. Investors sell off any high-risk site.

After the Day it will continue rebound
Brokerage believes that the performance of listed companies and the growth is important to choose stocks based on. Recently, the policy has been warmer. Since the Ministry of Finance and the SASAC encouraged the controlling shareholders of listed companies stock holdings, there are more and more holdings of the controlling shareholder of the increasing number of cases and high enthusiasm.

Citigroup Will Buy Wachovia
Citigroup will buy Wachovia and assume operational 312,000,000,000 U.S. dollars in loans of a maximum of 42,000,000,000 U.S. dollars loss. Comprehensive Beijing newspaper reported on Monday night that the U.S. Federal Deposit Insurance Corporation (FDIC) said that Citigroup will acquire the Wachovia Bank in a difficult situation.

Sinopec 4,300,000,000 shares will be post-banned, accounting for more than half of the percentage of outstanding shares
A China Petrochemical will post-ban on October 10 the sale of shares 4,300,000,000 shares limited, representing the proportion of the outstanding shares of 51.01 percent of the total capital ratio of 5%.Southwest Securities based on recently released data, and reported in October the restrictions limit the sale of shares in China’s petrochemical monopoly 43,091,000,000 yuan, for a total 50.22 percent of 85,800,000,000 yuan.

Curing the financial crisis, China and Integrated Traditional and Western Medicine has a good effect
CBRC Chairman Liu Mingkang of Tianjin in Tianjin attended the 2008 Davos Forum, said: “The current in the United States since the Great Depression, is the worst financial crisis in the world, but it is still monitoring the local, international cooperation which should be strengthened . “He strengthened international cooperation against high expectations of the financial crisis.

Share/Bookmark

Domestic Steel Growth Rate

Filed under: Financial News — Tags: , , , — Nancy @ 1:22 am -0700

Rapid Return of Production Growth for Steel
Expert of Lange Iron and Steel Research Center, Chen Kexin told the reporters that domestic steel production growth had a sharp decline, and even reduced. However, this condition showed that the problem of excess steel production capacity has finally surfaced, especially more serious problem of excessive supply of hot-rolled products.

The Production of Steel Growth Rate
The reporter learned from the related department that in 2008, the steel production growth rate fell sharply in China, even there appeared the first negative growth in these years. From January to August, the total production volume of national steel was 399.82 million tons, which increased 10.1% compared with the same period last year and reduced 14 percentage points increased level compared with the same time last year.

Export of China Steel is likely to be higher than the Level of Previous Year
The news on September 28 was reported that Chinese steel export rebounded greatly as it was subject to many factors. According to customs statistics, Chinese steel exports amounted to 14.89 million tons in July and August, which increased 32% compared with same period last year. In accordance with the average level from January to August, the total export volume in this year will be 62.76 tons, which is also higher than that of last year.

Domestic Steel Prices Continue to reduce
Domestic steel prices continue to fall with a deep range. The reporter learned from Steel Advisory Institution Lange Iron and Steel Net on September 28, 2008 that high-tensile steel wire and deformed bar respectively reduced 3.0% and 3.5%; long steel reduced 3.3% compared with last week, which lowered 6.1% compared with the same period last month.

Share/Bookmark

September 28, 2008

Domestic Finance

Filed under: Financial News — Tags: , — Nancy @ 11:45 pm -0700

Inner Mongolia advanced small and medium-sized enterprises financing and financial cooperation framework agreement signed
September 28, the Inner Mongolia Autonomous Region, Inner Mongolia Financial Office and the China Construction Bank branch in the county and Lingle signed a financing small and medium enterprises to promote the financial cooperation framework agreement.

U.S. financial rescue plan out the details
This weekend, whether the United States of the financial sector or the general public or the global financial markets, is a long wait. Sept. 28th, before stocks open in Asia, as a result of the financial assistance scheme to extend the duration of the U.S. Congress, the Bush administration finally on Sept. 18 raised a total of up to 700,000,000,000 U.S. dollars plan to reach agreement on the implementation details.

Golden Bridge will be built bases in the energy industry base headquarters
A planning area of 15 square kilometers of the Zhongguancun Science Park Jinqiao Science and Technology Industrial Park in Tongzhou base its development from the original location of the manufacturing-based to a “State Environmental Protection Industry Park” to “green energy industry base headquarters.” Yesterday, the base held a press conference to announce the news.

The first micro-credit business which is listed on opened in Zhejiang
Zhejiang Xinhua channel on September 29 (Reporter Qu Lingyan) from the Zhejiang Justine reporter was informed from the Trade and Industry Bureau that a few days ago for its small loans Haining Hongda Company Limited issued a business license, marking the first micro-loan company in Zhejiang listed on the official opening.

Domestic steel prices continue to drop as many as 20 %
(Reporter Yao Yun) Domestic steel market prices continue to increase deeply down. Reporters from yesterday’s advisory body Lange Iron and Steel steel net was informed that specifications on behalf of all varieties have more time this year, the highest price dropped nearly 20%.

Share/Bookmark

Copyright © 2009 ChinaFinancialDaily.com; Powered by WordPress