Fan Gang: China will not cut the interest rate but may loose mortgage and commercial loan
Leader of National Economic Research Institute, Fan Gang said that considering the current inflation, there was little space to adjust the monetary policy. However, to loose the mortgage and commercial loan was quite viable to the credit from small enterprises. Moreover, he said China would probably expand the scope of the export tax rebate.
Real Estate Policy will probably be loosen at the End of this Year
Recently, the real estate market appears abnormal decline, while the housing prices begin to be involved into the quagmire. So the experts expressed their opinion on when would untie the real estate industry. Moreover, they predicted that “9 • 27″ second mortgage policy may be adjusted at the end of this year or in the early of next year.
CEEMA proposed to adjust the real estate market policy and put forward four measures
As to the China real estate condition, China Real Estate Enterprises Management Association (CEEMA) recently sent a letter to Ministry of Housing and Urban-Rural Development of People’s Republic of China (MOHURD), this letter required to adjust current tightening control policy in real estate, which pointed out the real estate market prices and decreased trading volume would influence on the national economy in two sides, so it proposed a “rescue” with four measures.
Other News:
Latest Market Analysis from well-known Institution: Domestic Steel Prices continue to decline
According to well-known domestic iron and steel information institution, the domestic steel prices continue the trend of sharp decline in the last week (Sept. 19-26), which created the new low since April this year.
EU plans to revise Banking Laws and Regulations to avoid the repeated Financial Crisis
The European Union put forward a legislative proposal on October 1, 2008 to amend the existing EU banking regulations, strengthen bank capital requirements, and enhance cross-border supervision so as to avoid the current financial crisis appearing in the future.
Rapid Return of Production Growth for Steel
Expert of Lange Iron and Steel Research Center, Chen Kexin told the reporters that domestic steel production growth had a sharp decline, and even reduced. However, this condition showed that the problem of excess steel production capacity has finally surfaced, especially more serious problem of excessive supply of hot-rolled products.
The Production of Steel Growth Rate
The reporter learned from the related department that in 2008, the steel production growth rate fell sharply in China, even there appeared the first negative growth in these years. From January to August, the total production volume of national steel was 399.82 million tons, which increased 10.1% compared with the same period last year and reduced 14 percentage points increased level compared with the same time last year.
Export of China Steel is likely to be higher than the Level of Previous Year
The news on September 28 was reported that Chinese steel export rebounded greatly as it was subject to many factors. According to customs statistics, Chinese steel exports amounted to 14.89 million tons in July and August, which increased 32% compared with same period last year. In accordance with the average level from January to August, the total export volume in this year will be 62.76 tons, which is also higher than that of last year.
Domestic Steel Prices Continue to reduce
Domestic steel prices continue to fall with a deep range. The reporter learned from Steel Advisory Institution Lange Iron and Steel Net on September 28, 2008 that high-tensile steel wire and deformed bar respectively reduced 3.0% and 3.5%; long steel reduced 3.3% compared with last week, which lowered 6.1% compared with the same period last month.
Inner Mongolia advanced small and medium-sized enterprises financing and financial cooperation framework agreement signed
September 28, the Inner Mongolia Autonomous Region, Inner Mongolia Financial Office and the China Construction Bank branch in the county and Lingle signed a financing small and medium enterprises to promote the financial cooperation framework agreement.
U.S. financial rescue plan out the details
This weekend, whether the United States of the financial sector or the general public or the global financial markets, is a long wait. Sept. 28th, before stocks open in Asia, as a result of the financial assistance scheme to extend the duration of the U.S. Congress, the Bush administration finally on Sept. 18 raised a total of up to 700,000,000,000 U.S. dollars plan to reach agreement on the implementation details.
Golden Bridge will be built bases in the energy industry base headquarters
A planning area of 15 square kilometers of the Zhongguancun Science Park Jinqiao Science and Technology Industrial Park in Tongzhou base its development from the original location of the manufacturing-based to a “State Environmental Protection Industry Park” to “green energy industry base headquarters.” Yesterday, the base held a press conference to announce the news.
The first micro-credit business which is listed on opened in Zhejiang
Zhejiang Xinhua channel on September 29 (Reporter Qu Lingyan) from the Zhejiang Justine reporter was informed from the Trade and Industry Bureau that a few days ago for its small loans Haining Hongda Company Limited issued a business license, marking the first micro-loan company in Zhejiang listed on the official opening.
Domestic steel prices continue to drop as many as 20 %
(Reporter Yao Yun) Domestic steel market prices continue to increase deeply down. Reporters from yesterday’s advisory body Lange Iron and Steel steel net was informed that specifications on behalf of all varieties have more time this year, the highest price dropped nearly 20%.
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