China Financial Daily

October 15, 2008

Fetion From Finance

Filed under: Financial News — Tags: , , , , — kinpoo @ 9:38 am -0700

Three european central banks joined to injected 254,000,000,000 U.S.dollars
On Oct.15th at 19 o’clock the evening news: The European Central Bank, the Bank of England and Swiss central banks jointly announced that they would inject 254,000,000,000 U.S. dollars into the financial institutions. This is the first step of Europe’s central banks “without limit” plan of injection, in order to ease the market tensions of liquidity.

Innovative financial products became a nongovernmental-capital financing key
To ease the contradiction between supply and demand of nongovernmental-capital, and regulate and develop the nongovernmental-lending market, because of at a stage of development of Chinese non-governmental financial markets, they are both opportunities and challenges. In Shenzhen yesterday at the “governmental-capital financing in the new era Forum”, from banking, security, trust, the venture capital industry, peoples agreed that innovative financial products became a nongovernmental-capital financing key.

Financial tsunami scraped off high-level talent shortage, and the Finance of Jiaotong University in Shanghai unveiled
This morning, the Finance senior academe of Jiaotong university appeared for the first time in public, as well as its first financial forum. Forum focused on the inspiration and reflect on the global financial turmoil “, which reflected on the shortcomings of the current financial education and the deficiencies of financial personnel training system.

other news:

Spain’s international bank increased holdings of H shares of CITIC Bank
On the financial crisis sweeping the globe, Chinese financial institutions are favored by foreign investors. CITIC Bank today announced that the company’s board of directors considered the adoption of “agreement of the Bank of Spain’s (BBVA) holdings of shares in CITIC Bank’s motion”. BBVA’s board of directors agreed to increase CITIC bank holdings of H shares, from 4.83% to 10.07%.

Paulson can not ensure that the 250,000,000,000 U.S. dollars which are used to save the market are not “abused” by the bank.
Global Times reported by SONG Bin as correspondent: in the United States, the United States, according to Bloomberg News, U.S. Treasury Secretary Paulson is in the success of the Ninth National Congress of the United States to persuade banks to accept U.S. government funding 125,000,000,000 U.S. dollars, but about nine Large banks how to use these funds, it seems that Paulson has no decision-making power.

Do not consider the Hurun List of Top 100 of Richmen seriously
“Hurun list of ” for countless times made people concern about it, causing a lot of discussion, but I have been in doubt: The list reflects the real objective of China’s wealth ? I believe that a few people hold such a doubt.

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October 11, 2008

Rescue the Market in China and the World

Filed under: Financial News — Tags: , , , — Nancy @ 1:24 am -0700

South Korea encounters the Financial Crisis after 11 years; Finance Ministers go to America for Help
After the Europe, South Korea becomes the first Asian country with systemic crisis in financial system, South Korean Minister of Finance is about to go to the United States for help.

Ministers of Seven Financial Groups announced Five-point Plan to deal with the Financial Crisis
It is reported that G-7 finance ministers and central bank officials from the United States, Britain, France, Germany, Italy, Japan and Canada hold the first summit on Oct.10 in White House after the financial tsunami. The G-7 finance ministers announced a five-point plan to jointly deal with the global financial crisis.

Central Bank of China claimed to have the confidence and ability to deal with the international financial crisis
According to the report from China Central Television, with regard to the impact from current international financial turmoil to Chinese economy and finance, the People’s Bank of China spokesman Li Chao says that the fundamental aspects of Chinese economy is sound, and the whole financial system is robust and safe.

Rural Reform can play an important role in dealing with financial crisis
Through the deepening of rural reform, fully start of rural consumer market, increasing financial investment in rural areas, China will be able to calmly deal with the global financial crisis in the economic downturn.

China tightens the Prevention and Early Warning to Financial Crisis
The officials close the management claimed that China has already pulled the prevention and early warning to the possible financial crisis.

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October 10, 2008

Recent Securities News in China and the world

Filed under: Financial News — Tags: , , , — Nancy @ 12:12 pm -0700

China Securities Regulatory Commission (CSRS) has approved QFII about four foreign institutions in September
As China Securities Regulatory Commission (CSRS) reported today, another four qualified foreign institution investors were approved. So, there are 69 institutions have got QFII in our country.

 “2008 Autumn Report”
Chinese Academy of Social Sciences issued the “2008 Autumn Report” forecast on October 10 that retail sales of social consumable in 2008 would exceed 10 trillion yuan and reach 10666 billion yuan approximately.

The growth of Chinese GDP will be slow down to 10.1% or so this year
Chinese Academy of Social Sciences issued “2008 autumn report” on 10th predicted that the growth of Chinese economy will be slow down in 2008; the growth rate of GDP would be slow down to 10.1% or so.

Worrying banks being not reliable, many British people buy coffers to deposit their money
Financial crisis has made many business banks in America and Europe in trouble; so many depositors are worried that their bank deposits are not guaranteed.

India central bank has lowered the cash reserve ratio of 100 basis points for another time
India central bank has lowered the cash reserve ratio of 100 basis points for another time on Friday, so it is down to 7.5%. Before this cutting down, the very bank has lowered the cash reserve ratio of 50 basis points already

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