2008 september | china financial daily

September 28, 2008

Stock Market News

Filed under: Financial News — Tags: bank, bond, investment, steel — Nancy @ 11:17 pm -0700

Ping An of China: not rule out the possibility of ready for the Fortis Investment for impairment
Ping An of China (market stock house) released that, in the future, according to the international capital market, stock price volatility, the Fortis Group, and other trends, they will be in strict accordance with the accounting standards in deciding whether to get ready from 2008 Q3 results for Fortis shares of the investment provision Impairment.

How much does the proceeds China buy U.S. treasury bonds?
To buy U.S. treasury bonds is one of the most important ways for China’s huge foreign exchange reserve to use. Because of the large amount of the purchase, the issue of China and the United States has increasingly become the focus of attention. Song Guoyou of the Fudan University scholar recently pointed out.

Belgium’s largest bank Fortis endangered, so three European countries gave out of their hands
Sept. 29 news: according to foreign reports, Belgium’s largest banking group Fortis (Fortis NV) last week, share prices of 35%. Belgium, the Netherlands and Luxembourg government has decided to inject three 11,200,000,000 euros (163 million) of funds So that Europe’s largest financial services become a part of the nationalization and as not to breach the confidence of the market.

The Chairman of the board of baosteel said high-speed growth period of Chinese iron and steel industry is over
Baosteel Group chairman Xu Lejiang, on 28th in the third academic year, said chinese crude steel output has been greater than domestic consumption of crude steel, entered the stage of supply exceeding demand. In particular, the recent decline in market demand, profit increased risk of steel, iron and steel industry which has been rapid growth in the past. The industry turning point began to be felt. Technology and the scale of iron and steel enterprises became competitive advantage to win the “cornerstone of the two.”

Goldman Sachs want their commercial banks to expand business with M & A assets of up to 50,000,000,000 U.S. dollars
According to Britain’s “Financial Times” report on September 28, after becoming a bank holding company, Goldman Sachs Group, a commercial bank started the rapid expansion of business. The leaders of Goldman Sachs Group said yesterday that the company plans to take advantage of market opportunities in the doldrums of M & A up to 500 billion dollars in U.S. assets of the banking sector to ensure that the transition in the financial sector.

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Public Economy

Filed under: Financial News — Tags: holiday, real estate — Nancy @ 4:15 am -0700

20 new policies of real estate save Nanjing, so the buyers can receive financial subsidies
In the face of the continuing downturn in the property market, news of government policies all over the country spread continually. Nanjing, who has been the first in China one using “one room for one price” check pricy policy, finally handed out to save the market. Yesterday, the Nanjing government held a news conference officially to announce “opinions on maintaining stable and healthy development of the real estate market”.

In Jinan, “Mission million buyers,” one bought the first single booking discount of 8.8 Suite 8
In the afternoon on 27th, reporters knew from Su Shifeng, one of million buyers, that by on the am of 27th organizations showings for the first time, there have been 8 with 8.8 lower discount deal with the new book, as a zero breakthrough of housing transactions. Getting this information, many people expressed surprise.

Bank will open during National Day holidays as usual
On September 28th from Jellyfish.com it was reported ((YMG Sun reporter Liu Jun, Sun Changbo), that from the correspondent banks, during the National Day vacation, the city will be business as usual. All the ATM machines, telephone banking, Internet banking, self-service banking, electronic banking network devices are operating 24 hours a day, but the public holiday, and other business enterprises as a result of the reasons may be suspended, so should companies as early as possible to banks.

The self-employed industrials who keep online shops without commercial license will be given 175 million tickets from Trade and Industry Bureau in Guangdong
In Guangdong where the commercial license is not issued to allow go business online, in a two-year online stores in Zhaoqing shop, sellers of Gao Rui has been investigated and dealt with a fines and penalties which were prohibitively: 175 million yuan! Yesterday Gao Rui came to Zhaoqing for Trade and Industry Bureau to apply for a hearing. Local industrial and commercial bureau officials acknowledged that this is the case, “slip of a pen,” At the same time, this punishment is a rules-based.

Academy of Sciences, Zeng Yixin: Medical reform should firstly change risk-sharing mechanisms
(Reporter Shen Yun & Trainee Yan Ying)It is said that “on deepening the reform of the medical and health” are being made for public comments. The medical and health system ice-breaking is expected in the near future. Recently, the precursor to the Pharmaceutical Organization in a report on health care reform at the meeting, the Chinese Academy of Sciences, Sun Yat-sen University Cancer Center, the director Zeng Yixin point out: “medical reform should be carried out, which firstly shoud have a sound risk-sharing mechanisms, and improve the medical insurance Mechanism! “

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September 27, 2008

Lager Industry & Goverment Policy

Filed under: Financial News — Tags: deposit reserve ratio, economy, holding, lending rate, Siemens, Sinopec — Nancy @ 9:46 pm -0700

Sinopec wants to buy Tanganyika Oil Ltd. (TYK.T) for 2 billion dollars
China Petrochemical Corporation plans to buy Tanganyika Oil Ltd. (TYK.T) for 2.07 billion CADs (for about 2 billion dollars). Yesterday, Sinopec Group, the people accepted the “Daily News”, to say the acquisition plan is in progress, and the timetable for the completion of the final is not sure, but the success of the acquisition is unknown. Because, TYK.T also needs the approval of shareholders.

How much the increase of holdings of major shareholders can support?
More importantly, the support price is for the company’s performance and development prospects. In no uncertain market trends, controlling shareholder of the investment holdings may not be reliable. Shareholder motivation of holdings is different, and their company’s stock traded on the secondary market is for more long-term plans with a high throw & some bargain-hunting colors.

White giant Siemens became the ammunition of a price war between the Gome and Suning
Following the Suning Appliance being released the news this week, that on the Second National Day Golden Week Siemens refrigerator would depreciate, Gome and Dazhong who have been fighting respectively, yesterday announced a joint statement, to say that the joint operation will be a big advantage of size to launch greater offensive toward Siemens refrigerator.

Wen Jiabao: The development of Chinese economy has not changed in basic side.
2008 annual meeting of the new leader (Summer Davos Forum) on September 27 began at 16:40-17:30 pm, and the sixth plenary meeting was held. Premier Wen Jiabao attended the opening plenary session, as the Part of the record following.

Two kinds of rate down, “Gold October & Silver September” maybe the good opportunity of buyer for hunters
With lending rate and deposit reserve ratio both downing and the downturn giving the property market numerous reverie, it was even boasted that Chongqing property market will warm because of this. Recently, the reporter interviewed some real estate industry.