China Financial Daily

May 31, 2009

Development and Reform Commission says it will punish local officials, non-use of debt financing

Filed under: Financial News — Tags: — lily @ 6:47 am -0700

Development and Reform Commission says it will punish local officials, non-use of debt financing
According to the Voice of China, “Central News” reports 9:37, May 26,Mu hong, deputy director of National Development and Reform Commission pointed out that local governments at the local use of debt financing, there are some problems. Follow-up inspection for not been able to meet the job requirements, the National Development and Reform Commission will take the necessary adjustment and disciplinary measures, as detailed in the Chinese press voice connection.

Voice of China: an integrated information from all parts of view, the use of local debt, how are we? Is satisfactory?

Reporter: The reason why the country had issued 200 billion yuan to consider on behalf of the local debt, it is concerned that there is lack of local matching funds, the current 230 billion additional central investment projects, the need for government investment of about 170 billion yuan, through the generation of fat It should be said that local debt is gradually put in place, is to ensure that the funds, but the National Audit Office in the May 18 notice issued by the audit showed that as at the end of March this year, the project investment of local matching funds in place, only 48%, MU Hong said, This shows that there is no centralized place to issue bonds for the implementation of the new central investment projects, resulting in local matching funds in place of low,Muhong believe that the reason is that there will be some local governments splitting the funding scheme, no synchronization issue the corresponding local matching funds program, there is no clear matching funds all over the responsibility of local governments.

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Shanghai is prohibited by zoning adjustment mechanisms to prevent the assault

Filed under: Financial News — Tags: — lily @ 6:46 am -0700

Shanghai is prohibited by zoning adjustment mechanisms to prevent the assault
A few days ago, when the State Council, Shanghai Nanhui District Pudong New Area into the decision to lower levels, the Shanghai Municipal Commission for Discipline Inspection to monitor the relevant departments jointly issued a timely manner “on the” administrative district Nanhui District Pudong New Area into “a number of disciplinary work,” requirements of party members and cadres in the merger process of strict adherence to political discipline, work discipline, personnel discipline, financial discipline, confidentiality discipline, discipline inspection and supervision requirements of the two district authorities to strengthen the cadre in the adjustment and structural reform policies and regulations of the monitoring of the implementation.

The Shanghai zoning adjustment compared with the past, in the institutional setup, staffing, disposal of assets, appointment and dismissal of cadres more difficult and so on, the situation is more complicated. In response, the city has asked the Commission for Discipline Inspection to monitor the two areas are organizations and leading cadres at all levels to strict political discipline, and strengthen the central and municipal party committee of the merger implementation of decisions of the supervision and inspection to ensure that the ideological chaos, constant work, the team does not scattered. The merger is prohibited by surprise into the machine, and promoting cadres assault, assault in determining professional titles, and strictly prohibit the use of leading cadres in positions to facilitate the request or instigation promotion, arrangements for spouses, children, relatives, friends and her staff, is prohibited, such as making a false way to occupy staffing, financial resources claimed by such means. The merger is prohibited in personnel practices, such as buying emerged. Institutional reform of the merger involving the right staff to deal with changes in position, consciously abide by the organization and personnel discipline, and subordinate to the organization. Where a breach of discipline, organizational and personnel decisions, will be null and void, and held the responsibility of the person concerned.

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The world’s second largest manufacturer Xuguang mirabilite offering next Wednesday

Filed under: Financial News — Tags: — lily @ 6:35 am -0700

The world’s second largest manufacturer Xuguang mirabilite offering next Wednesday
According to media reports, it is reported that the world’s second-largest Glauber’s salt (ie sodium) manufacturers Xuguang resources, will be held next Monday will introduce investors. Its Executive Director and Chief Executive Officer Zhang Ming said in a briefing session, plans to add two 200,000 tons, respectively, of the medicinal and one million tons of Glauber’s salt Glauber’s salt production line special, it is estimated that in the two production lines put into operation, is confident the city can be accounted for in the Mainland rate of the first.

According to Behre Dolhear, as of the end of December last year, the mainland accounted for about Xuguang resources and global market share mirabilite 23.2 percent and 11.3 percent, said Zhang Ming, the current company in the Mainland market development, despite the recent impact of the Mainland economy must be, but Glauber’s salt as a result of a shortage of high-end, and therefore relatively minor impact. He was referring to the company’s products, the focus for the development of medicinal and Glauber’s salt Glauber’s salt, such as high-end specialty mirabilite, and its sales volume and sales, whether in more than 50%, while gross margin is higher than the ordinary Glauber’s salt, but he did not mirabilite said gross profit margins in the three, only that more than 50% of the overall gross margin. According to market information refers to the company the main products in the last year, the proportion of medicinal and Glauber’s salt Glauber’s salt, respectively, the special 17% and 70%, such as common mirabilite on only 13%.

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