China Financial Daily

September 25, 2008

Finance Policies

Filed under: Financial News — Tags: , , , , — Nancy @ 7:36 pm -0700

In a letter to the HS: real estate regulation and control changed from “severe” to “moderate”
The main idea of the HS policy is to change the “harsh” control policy in real estate to “appropriate control.” Specific policies include: allowing local governments to save the market; to lower real estate transaction tax rate; to encourage the improvement of housing demand; to strengthen the early warning system, and so on.

Wen Jiabao: China and the United States has never been extensive common interests as today
Wen Jiabao in the United States 23 local time in New York, attended a grand welcoming luncheon which is held by the friendship organizations of the United States, and delivered a speech entitled for “the future, Sino-US relations to create a better tomorrow”. He expatiated on the Sino-US economic and trade issues in the Taiwan issue and relations between the two countries.

Bank of East Asia denial “financial crisis” rumors and support of the HKMA in Hong Kong
“Sub-loan crisis of the financial problems” triggered the Bank of East Asia in Hong Kong appearing withdrawals surge. 24th, Bank of East Asia, especially held ameeting for reporters to clarify the rumors.Hong Kong Monetary Authority and the Financial Secretary will also deney the rumor. The former said it would fully support the Bank of East Asia, and will pay the incident to the police.

SFC: Margin has been prepared but there is no time-table
There are media reports for the Commission reported to the Stock Exchange Margin requirements of the implementation of programs and readiness. The Commission departments responsible for yesterday’s “Business News” said that the recent work of the Margin has been actively prepared and never stopped.

Unicom WCDMA start bidding on 26th
China-cbn was informed from the in-house of China Unicom, that on the 26th of this month there will be officially launched WCDMA equipment tender. So far China Mobile, China Telecom and China Unicom have started preparing for 3G.

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Industry Economics

Filed under: Financial News — Tags: , , , , — Nancy @ 7:32 pm -0700

Restructuring insider of Xugong away from the Bohai fund
When the Xugong Group surfaced the listed-on-program as a whole, the strategic joint venture Carlyle has been drifting further and further away. On Sept. 23rd, when in the heat outside world that the Bohai Industry Investment Fund will invest fund or take over Xugong case, the Bohai fund informed our reporter that the funds in the Bohai Sea have already pulled out of Xugong reorganization case.

Pan Shiyi annouced if not save the developer the housing price will rise
Recently, Pan Shiyi, who repeatedly called on the real estate industry policy restrictions, the chairman of SOHO China, yesterday again called for Government rescuing the market.He believes that if a large area of real estate “death”, domestic prices will not fall, but will continue to rise.

The General Administration of Customs: loan-to-crisis times significantly affected Chinese exports
The latest data from State General Administration of Customs shows, that due to the impact of a weak global economy, during the first seven months of this year, Chinese exports to the United States up to 140,390 million dollars, with growth and growth rate down 8.1 percentage points, this is the first time since Chinese exports to the United States, the growth rate dropped to single digits. Related experts believe that Chinese export growth this year accelerating the rate of decline is a foregone conclusion.

Xu Raogmao: 300 million dollars of loans are due
In this 2008 Summer, Chinese first-line developers fully suffered a “very big difficulties”.

“White sugar” and “Four Seas cake” in the detection of melamine in Hong Kong
Hong Kong Center for Food Safety announced the results of testing milk products, a kind of four continents cake is not up to standard.

Maotai clarified the “cancer of wine” hearsay, announced they cannot add sodium nitrite
After Mengniu, Erie, Bright liquid milk were found containing melamine, nowadays many webs published a message that AQSIQ also checks alcohol products,and in Maotai of Guizhou, Zhangyu of Shandong, Great Wall and Qingdao beer there is carcinogen – sodium nitrite.

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September 24, 2008

Central Enterprise Condition and Status Quo

2007 A-grade Central Enterprise List
2007 A-grade central enterprise list has been issued. China Petroleum, China Petroleum & Chemical, and China Mobile ranked the front three places of the list.

Central Enterprises will be quickened the Enterprises Reorganization
Director Li Rongrong of SASAC of the State Council recently reiterated that the 149 central enterprises would be quickened the reorganization after the Olympic Games, until 2010, the number of enterprises will be reduced to 80-100.

Net Profit of China Mobile ranks the First Place of Central Enterprises
On September 24, 2008, China Mobile issued the achievement in the first half of this year. The net profit reached 54849 million RMB, which ranked the first place of central enterprises.

Increasing Shareholding of Central Enterprises makes for the Market Stability
On September 18, 2008, the relevant department issued three favorable policies to rescue the market, one of them is that SASAC support the central enterprises to increase the shareholding and repurchase the shares. It is not only propitious to advance the confidence of the market, but also makes for the market stability if the central enterprises increase the shareholdings of the listed companies.

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