China Financial Daily

Ministry of Finance Report: listed companies do not increase in 2008 by Lee
The reporter learned from the Ministry of Finance was informed that the Ministry of Finance recently issued the “China’s listed companies in 2008 the implementation of the Enterprise Analysis Report Accounting Standards”, the report shows, the listed companies do not increase in 2008 profits.

According to the Ministry of Finance introduced the report of “mark-to-market daily, door-to-analysis” of the work, follow-up analysis of 1624 public disclosure of listed companies in 2008 annual financial report. According to the report, as of April 30, 2009, with the exception of ST this is B (200041), China 1624 Shanghai and Shenzhen stock markets a total of A, B-share listed companies published on schedule in 2008 annual financial report.

From a comprehensive analysis of the report, observed the existence of the Chinese economy is running the following significant features: a listed company in 2008 and increased profits do not increase; listed company stocks, fixed assets and bank loans and other assets for impairment loss of a huge enterprise to some extent, reflect a surplus of production capacity, structural unreasonable; the implementation of the new Enterprise Income Tax Law of the performance of listed companies contribute significantly; commercial bank loans increased considerably, and relatively abundant capital of listed companies; smaller virtual economy in China is not yet ripe for economic development entities to promote the role to be upgraded.

30% U.S. biotechnology listed companies in 2009 may disappear
In NEW YORK, on January 5th Xinhua, Gabriel life sciences investment bank announced on the 5th the annual industry forecast, in which 350 publicly traded biotechnology companies in the United States will had nearly one-third due to inability to finance, in the face with in 2009 the risk of bankruptcy or mergers. The investment bank said that those who are unable to obtain venture capital and other forms of financing would be forced to merge or merger, or withdraw from the market or suspension of R & D projects. By 2009, 350 listed biotechnology companies which investment bank concerned, will have about 100 disappeared from the market.