China Financial Daily

Shanghai and Shenzhen Stock Exchange issued the Guidelines on Buy Backing Stock Business
In order to regulate the transaction in stock market and ensure the smooth operation of related business, Shanghai and Shenzhen Stock Exchange has established “guidelines on buy backing stock business via Centralized Bidding Transaction by Listed Companies”, which was published and put into force on the Oct.11, 2008.

China Life president predicted the total premium growth rate would reach 50% this year.
On Oct.10, China Life president Yang Chao expressed China Life had occupied the 42% domestic market share when he met senior adviser of former German Rothschild Bank Schroeder; he also predicted the total premium growth rate would reach 50% this year.

Individual Income Tax for Top 100 Securities Industry increases 14 times in 2007, it is difficult to continue the resplendence
Yesterday morning, the State Administration of Taxation issued the “2007 China top 100 taxpayers.” The tax volume of securities industry was very eye-catching, as it increased over 14 times.

Alibaba share price reduced 85%; Nomura Securities released “He has seriously injured”
Under the financial crisis situation, eBay has laid off 1600 people, which occupies 10% of the employees, whereas Alibaba has launched the 3,000 large-scale recruitments. On Oct.7, Alibaba Group announced sharply that they would invest 5 billion RMB in C2C website: Taobao. But at the same time, Alibaba shares reduced all the time, it was 5.75 Hong Kong dollars until the close on Oct.9, which declined 85% compared with the highest price last year.

Other News:

Decision on Several Issues Related to promoting Countryside Reform and Development
The seventeenth of the Third Plenary Session of the CPC is held in Beijing, and Hu Jintao delivered an important speech. The session discussed and approved “Decision on Several Issues Related to promoting Countryside Reform and Development”