Shanghai into the "V short" season vegetable prices

By the recent phase of high temperature, Shanghai vegetable market, ushering in "underlying lack of" season, a variety of vegetable prices, especially in leafy vegetables up in price. Egg prices have also edged upward trend, the retail price of yesterday, has reached 4.2 yuan / 500 grams of a new high.


For some farmers market survey, feathers vegetables, water spinach, celery, cabbage, leeks and other common vegetables recent rise in prices. 500 grams of chicken feathers 5 yuan per dish, water spinach 3 yuan per 500 grams, 500 grams of 2.5 yuan per leek, than last week, up by 1 yuan. And vegetables per 500 grams or more generally in the four yuan, due to the recent difficulties in picking the Shanghai market out new fruits and vegetables Vegetable professional cooperatives have emerged a short time out. Shanghai vegetables for the solution, "V lack" of thirst, Shanghai, Jiang Yang, the farmers and other agricultural products wholesale market in the recent batch of Lanzhou, the plateau is also transported from the cauliflower, cabbage, lily, celery, and vegetables.

Garlic prices rise again

Mainly due to real estate speculators Wenzhou intervention group and the Shanxi coal mine boss.

Recently, the garlic will rise again. Garlic prices more expensive, more can be said now the price is abnormally high. The main reason is the group of Wenzhou real estate speculators and the involvement of Shanxi coal bosses, they use large amounts of capital from the acquisition of origin, and then raise prices to focus on unified sales, leading to higher market prices of the garlic. The garlic rice and cooking oil is different from the control substances such as national plans, which led to the skyrocketing price of garlic one of the main.

Zijin Mining usher oversold stock buying opportunity

Zijin Mining Company as a major gold producer in China, both gold and mineral reserves of gold production, or production costs, have a clear competitive advantage. The recent outbreak of the sewage spill, the company had a negative impact on stock prices, but in the long run, have little effect on company performance. Investors are advised to take good stock of water pollution incidents to bring oversold buying opportunity.

Limited range of indicators down gold demand callback

Last Friday a maximum 1204, minimum 1183, to close at 1188.40, volatility 21 yuan, ETF positions remain unchanged. Date Line closing out a long shadow down the Yin Xian, sub-plate, gold dropping as 1192, after supporting the formation of small double bottom bounce higher and European trading location breakthrough 96-1202 resistance began to fall to the 1196 line support to create a 1204 near the high point, 1196 rebound after the sharp decline to 1200 blocked to decrease the formation of the next break upward gap of 96 to 88 along the line, rebounded to 1195 fell below the resistance once again, set to close at the end of 1186 in the vicinity. Weekly gain last week, a cross-Star, this week, closing last week on line, on line income is not a foregone conclusion on the 1218 income Yin, five Lianyin weekly show, on line shock down, currently running between the flag order. ETF began in March this year, a substantial jiacang, April, May, June have jiacang 29.18 tons, 108.93 tons and 52.51 tons, in July to lighten up 18.39 tons, and the prices decreased limited.

Pressure test results boost the gold market outlook remains bearish euro

Friday released the final of Europe's banks stress test results, among the 91 banks have failed to pass seven organizations, the European Banking Regulatory Commission, the stress test, seven banks need to add capital to 3.8 billion euros (4.5 billion dollars), although the test results before the publication of the rigor of its testing and the credibility of the doubt by the market, but in the Friday market, or to give a positive response, the euro-dollar exchange rate once to 1.41000, the highest since 5 months a new high. This IG Markets senior market analyst Dan - Cook (Dan Cook) said: Indeed, many analysts to question the credibility of this test, but on the other hand the test results are positive, the pressure of the test and If the results do not necessarily have a "big pressure", the test scenario set by the strict degree one knew, there was no breach of contract issues in the debt entirely gone too far, now our view is that this is just a the possibility of tests does not need to insist so that the results become less extreme serious. Meanwhile Barclays Capital (Barclays Capital) analyst Qi Su - Cooper (Suki Cooper) in a research note: the European Bank of pressure recovery test results for the euro will play a very positive role.


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Golden ice: the limited range of indicators down gold demand callback

Gold falls below 1190

Standard gold: gold price volatility is difficult to get out of Yang Qi Ming: The dollar index continued to go down this week or Yihe: gold market outlook remains bearish Hengtai Chase: 1200 mid-term long and short boundaries Hanson: news mixed gold surface pressure of hot money mad comparable to several times the gold speculation Huanglong Yu sum up the results speak for or welcomed this attitude, according to latest data provided by FactSet three major European stock index futures contracts higher, while the Friday Gold fall to 0.7% lower, the New York International registered asset management division team (CPM Group) commodities analysts said: a reversal of the trend of gold is mainly affected by profit-taking, and the stock market and currency movements in recent weeks the global stabilization of gold down and weighed up.

Technical aspects: Gold opened higher in early 1188 and then up near the top probe to 1191.70, gold is currently in the process upside 5 average, 10 above the average bull in the 11195 check up, day RSI indicator line maintained at low , MACD indicator is still no sign of recovery, the gold top of the test are expected early 1195 near the bottom of the support for 1187-1185.

Bank of pressure measurement results well below the price of gold fall 1190

European banks stress test results show that most European banks in good health. European stock markets rebounded strongly, the foreign exchange market began to stabilize, the gold market from the withdrawal of international capital, and then switch to high-risk assets, gold in 1200 U.S. dollars mark a breakthrough after the profit taking, gold fell continuously, and eventually dropped to below 1190 U.S. dollars. Analysts said that the current gold market investor sentiment cautious, short-term price of gold does not rule out another bottom.

Monday (26) Asian market early, the international spot gold prices edged lower, gold weak to maintain correction in the vicinity of 1188 U.S. dollars. Last Friday (23), gold has broken above 1200 U.S. dollars mark, as the Spanish press that Spain did not pass several stress tests banks, hedge buying price of gold higher.

23 On the evening of the European Committee on Banking Supervision published the results of the European banking sector stress testing. The highly anticipated and highly visible "medical report" shows that most banks in Europe in good health, able to withstand the possible economic secondary bottom and sovereign debt crises of the double blow. While European Union officials expressed satisfaction with this result, but analysts believe the announcement of the results of this rather optimistic about the ability to achieve the desired results they hoped to accomplish encourage investors is still unknown.

CPM Group analyst Carlos Sanchez commodities that "the market last Friday despite the Bank of stress test results are still 'feel wary,' but gold's downward trend has not changed. Europe and the United States mixed economic data, commodity prices are also faced with amendments, payment consolidation phase in the horizontal price is expected to re-test the recent gold price support range 1181-1200 dollars. "

In addition, the world's largest gold exchange-traded funds (ETF) ─ ─ SPDR gold ETF in last Thursday (July 22) decreased 6.082 tons of gold holdings, in order to 1302.046 tons, compared with the end of June of record 1,320.436 tons, reducing 18.39 tons, showing enthusiasm for investment gold is beginning to wane. According to the latest figures, SPDR Gold holding capacity last Friday (23) maintained at 1,302.046 tons.

Market participants pointed out that some institutional investors in the asset allocation of gold has begun to reduce the proportion of the number of gold futures and gold ETF gold investors felt like a little cool. Once the price of gold fell below 1180 U.S. dollars, the next support level in 1155 U.S. dollars.

Due to the recent international trend of gold price volatility, the market for short-term gold price is divided. Japan tanaka kikinzoku industry (Tanaka Kikinzoku) said that although the first half of the average gold price in Japan rose 2 percent from a year earlier, the highest since the 27-year high; but local gold trading volume growth of more than 3 percent compared with last year, indicating increased demand for Japanese investment, the Department of investors to diversify assets were purchased with gold, rather than focus on making short-term spreads.

Barclays Capital analyst Sudakshina Unnikrishnan said, "the uncertainty of economic recovery and increase investor fears of inflation pressure may cause the price to rise further."

However, the New York University Professor Roubini (Nouriel Roubini) said that although the risk of not lifting the financial crisis, gold may rebound, but the international price of gold in the last 10 years the rise, now lacks upward momentum, and there is asset price bubble , interest rates and other risks, currently do not recommend investors to buy gold.

08:00 GMT, spot gold was 1189.80 U.S. dollars International / ounce.

Spot gold investment experience of the 4

【First】: reasonable control positions. This is the first one, because the only reasonable control of the positions that you have stability and opportunities for profit, or, even if your account has been profitable, they would eventually total failure. 5-10% of general funds into the market,

If your account is only 1 million dollars of funds, then you first into the single-best no more than a standard hand (100 ounces), whether more or empty. Better in the market situation, profitability approach have list, you can hand one plus one plus 0.5's do it,

Do not exceed 2 standard hand positions, on the contrary, if the admission list at a loss, never gone against the tide overweight, unless you have hundreds of millions of money to support. Similarly, the 5000 U.S. account, preferably 0.5 to do list.

【Second】: Prior to setting stop-loss approach. General 2-5 dollars is appropriate, or support points below resistance at the top. Why should we set the stop loss, I give an example: My company has a customer account 5,000 U.S. dollars, down two months doing

Yes, do not set one never stops, so does so many would have the list of stop losses to profits, look to make over 5,000 dollars, the account was some fan. Later in the 641 market in that wave, air is not a single firm to set stop loss, that loss alone

Finished his loss of 1 million U.S. dollars. Does not mean you stop every set to make a single account may lead to death.

【Third】: mind control. Very strange that some customers make when making a 1 to 2 dollars on bailing out the loss over time is also 20 dollars to stay, willing to lose money is not willing to make money missing. To know that a successful operator may not be the correct rate

50%, but this is less than 50% of the profit opportunities for loss of profits should come back but also earned some.

【Fourth】: trends do alone. Some investors think the market down all day so much, should be a bottom, and so on more than one approach, or would like to rise so much, should be first, and then into the sell orders. Market will tend to lose these people

Wang, Why? Because the market is not granted, the market has its laws. Before I came to have a single skill, depending on the market is bullish bearish trend in the admission after a small pullback to do one. Chase sell into corrections is not feasible, pay attention to only the important skills.

New York Mercantile Exchange, gold fell, affected by the stress test results

Gold futures fell slightly Friday to continue, while the industrial commodity and were traded in narrow ranges, so the pressure released before test results confirmed the health of most banks in Europe.

On the one hand so much bad news has cheered investors bullish, on the other hand stress test results are not on the whole issue of economic prospects and the confidence of investors to determine the signal, while the economic outlook and investor confidence is the key to long-term trend of Commodities factor.

New York Mercantile Exchange Comex gold futures in August settled down 7.80 U.S. dollars, to 1,187.80 dollars an ounce, down 0.7%. Stress test results in the banking industry before the forthcoming release, the contract fell 2.90 U.S. dollars.

Comex benchmark September copper futures rose 0.6% to 3.1850 US dollars per pound.

OptionSellers.com analyst Michael Gross said that in the banking industry stress test results were revealed, Silver futures followed gold lower, but copper was up to bring some silver prices boost test results are not due to increased pressure on the industrial metals market Demand concerns. Comex September silver futures settled down 1.9 cents, to 18.101 U.S. dollars an ounce, down 0.1%.

Nymex October platinum futures settled up 13.40 U.S. dollars, to 1,542.80 dollars an ounce, or 0.9%. September palladium futures rose 9.85 U.S. dollars to 466.75 U.S. dollars an ounce, or 2.2%.

The final way to save the euro

July 12 -7 20 months, the euro / dollar finished lower on K chart. EUR / USD on June 7 at touched 1.1875 after the rebound since the beginning up to the 1.3027. From the Japanese K Line chart can clearly be seen that the euro / dollar a head and shoulders bottom forming the shape. This can be attributed to the large number of selling before the need for a correction to promote the euro in the short covering, of course, of which there are some speculative traders to participate.

Short covering as the euro dollar exchange rate has led to a massive landslide, so expect the dollar's continued decline over days or will come to an end. Short covering in other words, once the end of the euro, the market or re-interested parties, the economy's fundamentals. By then, speculation will wait for an opportunity to flee, and the dollar bulls will be large-scale return. Although the recent weak U.S. economic data emerged, but the pace of economic recovery in the United States, or will soon in Europe.

July 20 auction of the Spanish Ministry of Finance successfully a total of 5.97 billion euros in 12 months and 18 months of treasury bonds, while the Greek government bonds Authority (PDMA) auction of 19.5 million euros (2.53 billion U.S. dollars) for the 13-week period Short-term debt. Although Spain and Greece, the successful debt auction, but it does not explain the euro area bond market, second-tier countries, tensions eased. Need to remind everyone that the reason for the short-term bonds, it is most likely involved in speculative trading comes into play. Only European countries were overweight before long-term bonds, said market confidence in the European countries rebuild.

Can be said that the recent performance of the euro is very eye-catching, even in ultra-up state, the face of bad news still remain strong. Moody's lowered its outlook for the Irish, whether sovereign ratings to Aa2, or the International Monetary Fund (IMF) and the European Union (EU) on July 18 to suspend the assessment of the financing plan for Hungary, resulting in lack of access to IMF Hungary and the EU established 25.1 billion U.S. dollars of surplus funds financing plan, only had a small impact on the euro. In fact, investors are concerned about the July 23 announcement of the European banks stress test results so that other sources of abatement. Once the bank stress testing of the negative news out there that will start the exchange rate fluctuations.

July 20 the European banking sector stress testing with some of the negative news coming one after another, the euro / dollar failed to break through the 1.3000 level of repression, once again fell to 1.2920 line. European mainstream news media quoted informed sources, the recent financial crisis the German Government took over the German HVB Real Estate Bank (Hypo Real Estate Holding AG) failed stress tests Europe's bank. This news came just as some European leaders slapped his face. Prior to the leaders of European countries have insisted that cry out banks to pass their stress test, their mood is understandable, but I think it should still be objective.

Investors are clearly seen, as the banking crisis would be to conduct stress tests. If you have passed the problem is not the test itself has fed support of European countries have nothing to do tests to play. Germany considered the more healthy in the euro area, their own banks are not fully tested by the pressure worse, not to mention other countries the bank. Dots, See, also expected more banks can not stress testing, will be a blow to the dollar.

On the stress test itself, I slightly doubt. Bear the brunt of the pressure test is whether the credibility? Earlier the European Central Bank to purchase bonds against their independence so that it undermines public trust, and this pressure will arise to test whether the credibility problem? The second is the pressure of the test itself really, as some European leaders say as strict? These questions will come under pressure when the test results are announced.

Now the whole of Europe is regarded as the stress test a straw, to keep out relevant tests on the pressure to "whitewash." Can understand the feelings of the Europeans, but the market's recognition is another matter. For the euro, if the test results worse than expected, it will usher in the invasion force short. If the test results better than expected, this good news continue to move up the digestive process. But once the end of the digestive process, the market's focus shifted to economic fundamentals in turn. At that time, the debt crisis in Europe will continue to show the effect of allowing the euro once again be challenged.

400 million Euro debt which bought

One word summed up the relationship between China and the EU may be hard, but the EU Trade Commissioner Karel de Gucht has given an amazing answer: the results of China-EU bilateral trade cooperation is really very "delicious."

July 22, "China as a trading engine" as the theme of the EU - China Trade Day in Belgium - European Union Exhibition Hall. In an interview with Karel de Gucht, "International Finance News" interview, said: "This 'delicious relationship' not only in the geographical indication cooperation, but also in other areas."

Buy European bonds, the Chinese are very smart

"China is very important for the EU." Karel de Gucht said, is based on the relationship between each other's needs, most recently, the Chinese Administration of Foreign Exchange to buy hundreds of millions of euros of European government debt, which includes Spain and Greece bonds.

Appears in Karel de Gucht: "Although the European economy is still in a difficult period, it is still a good investment. I believe we can maintain and increase value-added effect." He further analysis that Europe has Start the 860 billion euros of the rescue plan, this huge relief funds from the EU, the euro area member states and the IMF shared.

This reporter learned that the purchase SAFE Spain and Greece, the scale of national debt at 4.2 billion euros. In response, Vice President of Fudan University economics, finance professor Jian Sun said: "rescue plan launched in the EU context, the European sovereign debt crisis will not spread further, this time to buy European bonds are a good choice."

In general, the national foreign exchange reserves is to maintain exchange rate stability and monetary liquidity. Jian Sun told the "International Finance News" reporter, after a large number of holders of U.S. Treasury bonds SAFE can be said that this is the best global investment flows of the assets. However, the U.S. national debt is a bubble, prices high, the low rate of investment income, especially in the secondary market.

"From the increased foreign exchange reserves, rate of return perspective, the SAFE should buy some Japanese government bonds." Jian Sun pointed out that the market is too high for Japan's fiscal deficit to assess, resulting in low prices of Japanese government bonds. "From the perspective of investment income, to buy Japanese government bonds is a good choice."

Of course, the purchase of European bonds, particularly the crisis to buy bonds issued in Spain and Greece have the same effect. Jian Sun analysis shows that: "The launch rescue plan, reducing the risk of European government bonds, reducing the possibility of default." In addition, Li-Jian Sun view, "time to buy debt in Europe is also a strategic consideration, can achieve diversification of investments, and EU to establish a good working relationship. "

Breaking barriers, the EU is very positive

While Europe is concern about the debt purchases, the trade barriers between China and the EU also "hot." In an interview with Karel de Gucht, "International Finance News" interview, said: "China-EU cooperation in trade protectionism is a key exchanges, in addition, there are topics such as intellectual property protection."

Data show that trade volume between China and the EU established diplomatic relations of the year from 2.4 billion to 420 billion U.S. dollars in 2008, an increase of 175-fold; in 2009, by the global financial crisis, EU trade volume fell to 364.1 billion U.S. dollars; in 2010 on six months, the EU trade volume more than 210 billion U.S. dollars, up 37%, recovered to pre-crisis levels.

"China-EU trade relations have always been the most stable relationships, rapid development of trade provides an opportunity for both sides, bringing his interest." Karel de Gucht said, now, the Europeans bought many goods from China, and China's many automobiles, the machines are in Europe; Europe needs China to provide labor-intensive products, China needs high-end products in Europe.

However, Karel de Gucht acknowledged EU trade relations have also been some very difficult issues, such as intellectual property protection. He told reporters that a number of European companies set up R & D centers in China, "but their environment for foreign investment in China began to express concern."

Karel de Gucht said, according to the Chinese government put forward a series of encouraging independent innovation policies, including the only locally registered companies can participate in government procurement, "which will affect the foreign R & D initiative, is not conducive to intellectual property protection . At present, enterprises in the EU's positive proposal, part of the Chinese government has started to adjust. "

Shanghai Expo theme "Better City Life", Karel de Gucht proposed the "trade for a better life" 3-point proposal that China and the EU to further increase investment opportunities in the local market; to ensure that government procurement more open and transparent; further strengthen the protection of intellectual property.

"In the challenging environment, China and the EU should become the backbone of partners and the world economy." Karel de Gucht, I believe, "In the future, we will gain more cooperation in the 'delicious' results."

Xinhua Life Insurance 350 000 000 Woan exposed nearly 30 executives accountable thousands of people involved in customer

REVIEW: New Life Insurance Deputy General Manager of Jiangsu Taizhou center branch Rong Fu Wang, for up to 6 years time, fraud, embezzlement and misappropriation of funds of 3.5 billion, involving thousands of customers.

Recently, the main people involved were arrested by public security organs or the taking of measures, Xinhua Life Insurance, the other nearly 30 general, branches and expensed company responsible person in charge directly responsible leadership and accountability by the CIRC, punishable by dismissal, warning and fines.

Involved 350 000 000

Is located in Taizhou City, Jiangsu Province, has recently become the central concern of the focus of the insurance industry, although 13 districts in Jiangsu Province, in 2009 the total premium income of Taizhou is only Lie No. 9, Yi Qi illegal fund-raising case of life insurance companies has increased greatly attention from people of Taizhou, Xinhua Life also be involved once again pushed to the cusp.

Recently, a "branched on the new general manager of Taizhou, Xinhua Life Insurance, Wang Fu-rong accountability for illegal fund-raising case briefing," the onward transport of insurance regulatory bureaus, insurance companies, insurance asset management companies and insurance intermediaries.

October 2009, Xinhua Life Insurance, general manager of Taizhou expensed Wang Fu-rong illegal fund-raising of a case, set up a special investigation team to visit China Insurance Regulatory Commission on site investigations and the responsibility of Jiangsu, after six months of investigation, the basic context of the case emerges surface.

Verified from 2003 to October 2009 period, Wang Fu-rong fake insurance certificates by unauthorized illegal fund-raising, withholding of funds misappropriated premiums and surrender by way of fraud, embezzlement and misappropriation of funds of 3.5 billion, involving thousands of customers .

According to informed sources, Wang Fu-rong, 35-year-old high school culture, and in 2002 branched into Taizhou, Xinhua Life Insurance, a former deputy general manager of Taizhou expensed. Since 2003, the king through privately engraved seal of the insured, "patchwork" fake business, the insured, and will surrender the policy with the fake money back into his personal account or accounts controlled investment company.

Investigation by public security departments, Wang Fu-rong misappropriation of funds, amount to 185 million yuan, of which about 67 million yuan for investment has set up nine companies, 48 million yuan to cover an initial interest, 29 million yuan for gambling or personal spending money 10 million yuan for the purchase of real estate vehicles, 10 million yuan loan to others, 21 million yuan to pay the salaries for.

Informed sources, Wang Fu-Rong Ren in Taizhou group insurance business has branched manager, deputy general manager, he used his position to a single way to do patchwork group group policy, the insurance certificate issued by the insurer the premium charged, but not recorded, thus withholding premiums, directly into their personal accounts or business accounts they control. In addition, Wang also pretending to surrender payments for the insured status, for other purposes.

The European market is worried about is self-confidence

Obviously, the Greek economy is in dire straits, but also the country's financial system is under unprecedented pressure. However, we must face the five-week stress test results of the Greek banking sector banks did not seem to feel pins and needles.

Not only to Greece, the European confused. Regulatory authorities are preparing to announce 91 major banks in Europe stress test results, the EU finance ministers have become politicians and high-profile positive surprise.

Could not stand the International Monetary Fund (IMF) last week, says that Europe must stress test its banks more transparent, and extended to more institutions to improve the reliability of these tests.

European officials were optimistic about high-profile concerns

In recent weeks, pressure test results on optimism constantly filled the air, attempting to comfort investors - the European financial system safe. This European bank shares continued to rise, the euro and the pound soared against the dollar advantage of the opportunity.

Test results is scheduled for July 23 release, the subject banks 91 largest bank in Europe, including Greece 6, specific for the four private banks - National Bank of Greece (National Bank of Greece), EFG Eurobank Ergasias SA, Alpha banks (Alpha Bank SA), Piraeus Bank (Piraeus Bank SA) and two state-controlled bank, the Post Bank of Greece (Hellenic Postbank), ATE Bank.

Greek officials have repeatedly said in various occasions, they stress test in the Greek banking sector's performance in "very confident." Stephanopoulos at the Greek central bank governor Provo last Saturday to accept a Greek media said: "I think this six Greek banks will successfully pass the test." Efforts of the Greek Finance Minister 帕帕康斯坦 quarter of Greece is also on July 19 seminar was held by euro bank said, "sure" the Bank of Greece will be passed stress tests conducted by EU experts.

As the debt crisis of the current round of European origin, the Greek banks have been suffering from high and troubled loan default rates. Now consumers are a constant drain on deposits, risk-averse investors are also reluctant to buy the debt of Greece, what are the reasons for optimism?

Not only is Greece, IMF president, Kahn is also a television interview last Friday, said the major European banks in the safe in the stress test. Including France, Germany and other European officials have also expressed similar views on different occasions.

European "very confident", analysts and investors have "worried" because including six Greek banks, including some European banks should be most in need of injection. European officials not only failed to appease the optimistic statements has long scarred the market, but sparked the process of stress testing the credibility of this concern.

"If the Bank of Greece passed the test, then the market will wonder whether these tests, close, or whether they really accepted the test." Royal Bank of Scotland (RBS), an economist said.

Test reliability was challenged

In view of lack of transparency in the process of stress tests, such concerns are not groundless.

Stress test coverage of these large banks test at least each of the participating countries account for more than 50% of total bank assets, including the 16 euro-zone member countries and the United Kingdom, Denmark, Poland and Sweden.

The tests by the 20 financial regulators jointly conducted by the London-based European Banking Regulatory Commission (CEBS) is responsible for coordination. In order to test these methods in the EU member states to reach agreement, CEBS with a great deal of enthusiasm. However, the variables used for testing but said little, but at present it is unclear Friday the test results to be announced how much substance. IMF said on this week, although the market has so far look positively on this process, but "there may still exist on the test stringent degree of uncertainty."

Morgan Stanley analyst Huw van Steenis, chief banking industry in the July 19 release of report that stress tests negative after the announcement of the biggest risk is "prejudicial to the credibility of the factors that the test": including the total amount of bank financing is obviously too low, the quality of attention to capital adequacy, and the German practice. He believes that Germany is likely to decide not to bank additional capital.

Last year, the United States after the test pressure to force 19 of the 10 largest banks in the capital, added that if the five-week, test results released in Europe too moderate, will greatly weaken the European policy-makers from various sectors of confidence.

United States swept the floor of a 12.7 billion fund ABC shares jumped to 12.79% shareholding

Although last year's annual report, net profit growth this quarter's results were more than 100% compared to East NC (002,248, stock it) mid-year report net profit up 31.16% and not particularly good, but does not prevent the agency interests. Center Daily News revealed that seven agencies stationed in the second quarter, the number of agencies or Jiancang both the number far exceeds that of a quarter. Center Daily News also said that the proposed implementation of the 10 turns of 10 dividend of 1 yuan.

Earnings per share 0.43 yuan in the first half

Notice that, due to the machine tool industry was the restoration of market growth, product orders well, first half operating income 324 million yuan, net profit of 053 million yuan, 0.43 yuan for basic earnings per share were up 33.25 %, 31.16% and 26.47%.

Data show that in the first quarter, sales of CNC machine tools company 261 million yuan, accounting for the main business income accounted for 80.81%. In this drive, the company maintain the high pace of development in recent years.

Expand the two movements

In fact, the company's recent focus on large-scale precision CNC machine tool business expansion, there are big moves continuously.

On the one hand, East NC in April of this year to raise funds to complete additional 350 million yuan, and to invest in "large-scale CNC machine tools technical transformation" project. Company said completion of the project is expected to realize annual sales income will be 530 million yuan, annual additional total profit 99.88 million yuan, the company's profitability will be increased dramatically.

On the other hand, the company said last Wednesday, intended to be self-funded 300 million yuan to establish nuclear power equipment manufacturing company, "Weihai of East China Nuclear Power Equipment Co., Ltd.", and the company with the German joint venture Heathrow East Chuang Heavy Industries, will enter the heavy-duty precision machine tool production and heavy processing in the field, 2011 will be cold and mechanical components of nuclear power into the field of welding. Body analysis, which means the company will extend lower, and in the future of nuclear power equipment into the whole industrial chain.

Performance of the company to maintain high growth in the state, the East China CNC also comply with high dividends to our shareholders in return. Notice that the company intends to implement all the shareholders increase by transferring 10 shares for every 10 shares and distribute cash dividend of 1 per of.

7 agencies purchase low

Performance of sustained high growth in nuclear power projects are enticing, the high turn sent dividends programs, which are of concern to East of NC to the institutional capital. Center Daily News revealed that a quarter of the top ten tradable shareholders have three bodies, only 72.67 million total shares, while the end of the second quarter of value-added seven bodies have been a total of about 511 million shares. The second quarter of them holding the largest number of institutions Tianyuan Fund, bought a total of 130.18 million shares, followed by Yinfeng Fund, a total of 102.98 million shares. East of NC in the second quarter average price is 36.98 yuan, 43.6 yuan at the current stock price calculation, institutions are basically at the profit range.

Secondary market, through pre-bottom, the East China CNC recent rebound well, starting from May 21, the stock price rebounded all the way from 29.8 yuan yesterday's closing price of 43.6 yuan, rose 40.92 percent range. As the company transferred 10 of 10 dividend of 1 yuan introduced, how the market outlook, will be announced today.

Circulation of East China top ten list of shareholders NC

A quarter (as at 31 March 2010)

Name of Shareholder Number (million shares) proportion (%)

Chun-Guang Li 55.28 0.70

China Merchants Antai 40.37 0.51

ICBC - specific customer assets 27.72 0.35

Cai Qiao Yue 21.71 0.28

Dividends and increased profits in the Sea 20.00 0.26

LUO Wei-wen 16.39 0.21

Zou this ceremony 14.58 0.19

He Zhongqing 14.00 0.18

Chen Gang 13.54 0.17

Green card freshman year of Capital Trust 12.30 0.16

In the first half (as of June 30, 2010)

Name of Shareholder Number (million shares)

Finance company Hunan Valin Iron and Steel 188.42

Tianyuan Fund 130.18

Yinfeng Fund 102.98

South Sheng Yuan dividend 98.76

Castrol returns 81.61

58.84 steady gains in the sea

New Kingdom 57.87

Chunguang 55.46

Easy to enhance the return of 42.62 Fonda

Gold set to vote should vote in the election season as a season set to buy high yield

Gold investment leads people to feel there unattainable, but with the opening of domestic gold market, and now spend over 200 yuan can join the "gold" team up. ICBC launched the current gold accumulation operations can be realized gold investment, the minimum can be as long as the deposit of 200 yuan. However, the reporter learned that the business has not opened the redemption feature extraction is only wishful gold. Will vote for the gold, experts advise, will have to choose the right time to vote, will vote for in the off-season purchase of gold, if gold season, a one-time purchase, or more riches.

Redemption is not open to low-threshold

It is understood that the bank was formally launched by the end of January this year, will vote in the gold business. ICBC branch in Guangdong Province, according to the relevant figure, when the business need only 200 yuan, or 1 gram of gold can deposit. Customers deposit money after the establishment of a wishful accumulation account, and can select the periodic accumulation or active accumulation of two forms of investment. The accumulation of gold, customers can choose redemption, cash, to the Industrial and Commercial Bank of China can extract physical gold bullion.

This is what gold will cast the most attractions: Investors can choose cash redemption, but also to the extraction of physical gold bars, Industrial and Commercial Bank of China, in theory, get foolproof security: gold goes up, cash (money) profits ; gold dropped, cash (goods) hedge.

However, the reporter interviewed a number of ICBC outlets in Guangzhou, understand that cash is still not achieve redemption. Industrial and Commercial Bank of China branch of China Park, a client manager, said it has not opened the redemption of gold accumulation function, only buy not sell. In other words, to realize, can draw only physical gold. As the purchase is the bank's "ideal money", the minimum size is 20 grams, so must also be provided in-kind payments to 20 grams as a starting point. As for when to open the redemption feature, the client manager, said the planned opening of the first half, but have not yet opened.

Proportional to risk and return

It is reported that gold will cast the advantage of being able to judge the trend investors can not clear when the play folded down costs, spread risks. In addition, the product can alleviate the financial pressure, if not one-off large capital investment, they may choose will vote.

Many market participants also believe that gold will feature the biggest investment risk is spread, which has always been more respected in the investment industry. It is more suitable for long term investment, as some paycheck to paycheck, it can actually be cast for a small wage. However, often the greater the risk the greater the returns, and vice versa should not have too high expectations.

Reporters also learned that ICBC outlets, although the trading will not receive any investment fees, but the line "wishful payment" offer includes processing fee of 13 yuan, or purchase price than the Shanghai Gold Exchange's gold 13 yuan higher, while the selling price of gold according to raw material price recovery, that is synchronized with the Shanghai Gold Exchange quotations. Gold conducted a financial reporter who admitted, "To be cast on the profit from the gold, in fact, quite hard."

First half of the one-time purchase of fixed investment Gold gold PK

One-time benefit of 12 times to buy

Case:

Miss Wang is a white-collar family, this year she felt the shadow of inflation is getting closer, though not much savings, she wanted to point investment. In the first half performance to see the gold, Wang also buy gold points. Now that gold can be cast, and she hesitated to vote or the will to take a one-time purchase? Should the benefits be considered purely from the reporter for her simple calculations.

1. To January 25 Au9999 Shanghai Gold Exchange closing price of the cost price, June 25 closing price for the sale of the same contract prices, the purchase fee (8 yuan / g) relatively inexpensive bars of Shanghai Gold Exchange 100 grams of an example:

Cost: 244.80 × 100 克 +8 per × 100 g = 25,280 yuan at current prices (June 25 closing price): 272.19 × 100 g = 27,219 yuan

Profit: 27,219 yuan -25 280 = 1939 yuan per

Two. If the same order on January 25 will begin to vote calculation, select the 25th of every month to buy 17 grams (half of 102 g), at the end of June (13 yuan gold has been included in processing fees):

Cost: (257.80 +253.55 +253.99 +267.30 +274.29 +285.19) × 17 g = 27066.04 yuan

Profit (100 grams): 272.19 × 100-27066.04 ≈ 153 元

Peak selling season set to vote

Zhi Han, said gold analyst repair taught the first half of gold on red soon, so will the cost of investment will be high, one-time purchase, will definitely lower investment earnings. Should the market but at the price of gold down, the fixed cost of investment will be diluted. To know, will be the biggest feature is the spread investment risk, to avoid a lot of buying from investors, the situation caused by the high prices. This has always been more respected investment industry, more suitable for long-term investment.

Do not know gold can choose each year to the second and third quarters, that gold be cast off-season began, and then in the first and fourth quarter, according to the short term the price of gold rising rate, such as the selection of 15% -20% profit taking, and then buy it back after the adjustment, it is the easiest way.

While bargain-hunting time until they drop gold

REVIEW: Gold into shock after July has been down, investors do not know whether the price of gold has been in the end. Yesterday, reporters interviewed several professionals who believe that gold has not dropped in the end, eight, early in September, or are bargain-hunting opportunity.

Stock market volatility again, many investors do not know whether now is really the bottom. The same problem plagued the gold investor. Gold has been shock after the beginning of July down, investors do not know whether the price of gold has been in the end. Yesterday, reporters interviewed several professionals who believe that gold has not dropped in the end, eight, early in September, or are bargain-hunting opportunity.

U.S. dollar, gold both down

Gold fell as the main theme into July. New York Mercantile Exchange Wednesday August gold futures contract fell 6.3 U.S. dollars an ounce to close at 1181.9 U.S. dollars, down 0.5%, a record closing price since May 21 the lowest since. New York Stock Exchange Thursday August gold futures contract closed flat at 1,187.4 U.S. dollars. At 5:53 p.m. on the 22nd, the international price of gold at 1187.20 U.S. dollars.

Another cause of concern to investors of information: As of July 20, 2010, the world's largest gold ETFs positions 7 total 1586.238 tons, and the previous day less than 6.083 tons. The decline in recent months, the biggest reduction, bearish for gold prices.

How to understand the current trend in gold? Yesterday, reporters connect the headquarters of Shanghai Sunrise Bank senior gold analyst Dr. Jiang Shu, he believes that in recent phase of the dollar and gold both fell, just that along is debt crisis will soon end. Prior to close ranks with the U.S. dollar rose gold is the debt crisis in Europe triggered by the unexpected events caused by people's risk aversion. Currently, investors have been gentle mood. Even Spain, bond credit rating downgrades, and investors did not panic again.

Jinhui Futures Shenzhen Branch Vice President, senior gold analyst Lin Yuhui believes that the original price of gold should be down into the second quarter, is Euro debt crisis stimulated the gold, super gold up front, the initial stability of the current global economy, gold price technical correction to the normal price range.

1150 U.S. dollars to buy the following?

Lin Yuhui remind investors speculate in gold and in addition to concern about supply and demand side, but also should be concerned about liquidity. Enter in September, traditionally the peak season demand for gold has begun to enter, usually gold will start ahead of schedule. He believes that gold next month at the bottom of, early in September to start at the chance to do more in the end of August, early September there. But he did not think gold will tumble deep minimum in between 1120 to 1140 U.S. dollars. Once the price of gold fell to 1,150 U.S. dollars / ounce, is the watershed. Under this price can do more bold buy, buy every drop is a good opportunity to buy to hold after the end of the year or next January. Gold futures investment analyst Su-front view, from a technical perspective gold is in the slow down into the bottom of the most important support points located at 1100 U.S. dollars, more than those who do not present admission.

At the end gold will be high?

Lin Yuhui analyzed that a slight loosening of the current signs of bank credit, in the second half is estimated that this would be more obvious once the banks loose money, inflation is expected to be back again, gold will be ready to make trouble. Gold prices likely to end a new high. Then from the largest economy in the run cycle, the global economy is still in early stages of recovery, monetary and economic upheaval is inevitable. Once again came the bad news triggered turmoil, gold will Shangcuan.

Jiang Shu remind investors concerned about the U.S. economic data this month. He predicted the U.S. economic data will not be as good as people think, not so bad as the pessimists think. Second bottom impossible, is unlikely to raise interest rates. Therefore, he predicted the dollar is going up shock, then gold will be followed further down the bottom. He believes that between 1050-1100 U.S. dollars is the bottom of the gold correction, but the high price of gold at the end To be very difficult.

Gold price forecast this year, leading organizations

To larger number of foreign journalists gathered on the gold price forecast. ANZ Bank's latest report noted that the strong euro caused by euro denominated gold carry trade positions open, gold face further adverse effects. The bank forecast in the third quarter average price is 1215 U.S. dollars / ounce, but slipped to the fourth quarter to average 1175 U.S. dollars / ounce.

Royal Bank of Scotland said the latest report. For the second half of this year's gold price, Royal Bank of Scotland reports that gold does not appear impressive performance, expected gold will be in 1200 U.S. dollars / ounce in the vicinity. The bank now expects the average price of gold in 2010 was 1,170 U.S. dollars / ounce.

Standard Chartered Bank in the release of third quarter investment report that will be the next one to three years to regain the gold rally, expected to reach 1,350 U.S. dollars / ounce. The central bank buying of gold as gold's long term factors supporting the dollar weak medium to long term fundamentals will not change, so when the dollar return to the weak, the gold will thus benefit.

gold price is expected to bottom out

New York Mercantile Exchange (COMEX) gold futures closed higher Thursday, as strong corporate earnings, indicating brighter economic outlook, increase the investment appeal of gold. COMEX-8-month gold futures closed up 3.80 U.S. dollars GCQ0, 1 ounce , 195.60 U.S. dollars. trading range of 1,180.70 to 1,201.20 dollars an ounce. U.S. heavyweight strong growth in corporate revenue, triggering a variety of assets rebounded, pushing the stock market, gold market and other commodities. gold Friday in Europe bank stress tests results came in early before the increase is limited .6 Since gold stocks were broadly consistent with, the debt due to proliferation concerns receded in Europe, the euro shells. COMEX estimated, the final volume was 143,684 gold mouth.

1901GMT, spot gold XAU = USD 1,195.15 an ounce, USD 1,191.80 reported late the previous day. London afternoon fixing price of gold XAUFIX = USD to 1,199.50. COMEX-9-month closing high 31.70 cents silver SIU0 , or 1.8%, to 18.120 U.S. dollars an ounce, following the gold rally, due to the expected improvement in the demand for industrial metals. trading interval from 17.635 to 18.200 U.S. dollars an ounce. COMEX estimated final volume of silver for the 32,397 population . Spot silver XAG = 18.09 U.S. dollars an ounce, higher than the 17.77 U.S. dollars late the previous day.

New York foreign exchange market:

Euro / dollar rose 1 percent Thursday, as strong euro zone economic data and U.S. corporate performance, rekindling hope for the global economy and boost investor risk appetite. Data showed unexpected strength in manufacturing and services in Europe After growth, the euro rose through 1.29 against the dollar, but Friday the European Bank of stress test results released before the uncertainty of the euro did not probe further on hit 1.30 U.S. dollars over the recent 10-week highs. U.S. stocks rose for, and U.S. Federal Reserve Board (FED, Fed) Chairman Ben Bernanke yesterday described the U.S. economic outlook somber improvement in market sentiment after the yen trimmed gains against the dollar, but fell against other currencies. struggling dollar, weak U.S. economic data due suppressed the market for the Fed to raise interest rates next year. This prompted investors to re-evaluate the expected return on dollar-denominated assets. the United States-year notes US2YT = RR rate of return (yield) earlier this week dropped to a record low of 0.57% lower than the comparable German bond yields. But Thursday showed U.S. existing home sales in June fell 5.1%, down 8.1% less than market expectations, investors feel slightly relieved.

European banks last resort, the banking sector stress testing results will be baked in the final tomorrow morning; parties against this interpretation of financial institutions have different views, but the authors believe that accumulation of Europe because of the debt crisis is easing, but despite from the economic recovery process and future implementation of the euro zone's monetary policy and fiscal expenditure will appear on a tight situation, this is the most current address constraints on future economic development factors; the fundamental problems the euro area and the rigidity of the pressure test concerns will prevent the euro gains momentum. euro rebounded after the end of the round will continue into the pace;

U.S. stocks:

U.S. stocks rose Thursday as investors shake off some of the concerns of economic recovery efforts after 3M, United Parcel Service (priority than speed, UPS), and Caterpillar and other companies announced the good economic benchmark forecast. Weight quarterly business-intensive results after the close today, Microsoft also released quarterly results, shares rose 2.9 percent, after results were released after the bell was little changed. three major stock indexes today, the largest increase in more than two weeks, UPS rose 5.2%, after the company raised profit outlook. The company is seen as a barometer of consumer and business needs. Thursday after data showed that jobless claims last week increased. After strong growth earlier this year, employment growth has slowed drag on household spending and economic recovery.

New York Stock Exchange, American Stock Exchange and the Nasdaq market, the total turnover of around 8.7 billion shares, last year's estimated daily average value of 9.65 billion shares. Up and down the New York Stock Exchange, shares a ratio of about 7:1, Nasdaq, down the number of shares with a ratio of about 5:1.

Traders were also digesting:

U.S. crude oil futures rose more than 3 percent Thursday, to 79 U.S. dollars a barrel over the 11-week high, due to stronger than expected economic data, stock market performance boost, and the market worried about possible threats to Gulf of Mexico tropical cyclone of crude oil production. U.S. dollar against a basket of major currencies and the euro weakness, but also boost oil prices down more than 1% after yesterday's rally. oil futures rose more than 3%. today's trading range was 76.16-79.42 U.S. dollars, which was the highest May 6 . U.S. National Hurricane Center (US National Hurricane Center) Thursday said in the report, the third tropical cyclone formed near the Bahamas, a tropical storm expected to strengthen, but will not form before the hurricane landed. in Gulf of Mexico operations close attention to the energy companies could strengthen as the storm hit the area of tropical cyclones, some companies are removed from the offshore drilling platform staff. by strong corporate performance, better-than-expected data on U.S. housing market and the European manufacturing improvement in industry and service sector activities, global stock markets surged, the euro.

Our technical analysis of a specific month from the oil firm's standing in line for more than 70, 10 and 20 day MA Jin Cha, MACD indicator is still in a strong smoothing higher; believe that gold will continue rising short-term challenge in May The previous high point; this will form an effective short-term support for gold;

Spot Gold Technical Analysis:

Spot gold from 1265 to the recent lowest point since 1175 in the vicinity, for a total decline of 90 dollars; once during the relay rally lasted longer but the intensity and magnitude of rebound is limited; only cause the price of the second bottom; an investment were concerned that since 1175 can support the formation of a strong gold price for the recent evidence is whether 1175 can be defined as a rebound in the low sub-faced gold; answer from the current form of multi-cycle perspective, in particular contour of its Comparison of strong rebound cycle, so a rebound around the corner; Another fact is that 1175 was close to the average price in 2010 locations, there are no accidents, if so, tonight's European banks stress test results will show the pressure of the role of the euro; at this time for Gold's rally is expected to have varying degrees of support; from the assumption that the premise, the analysis shows this month closed on line no doubt Yinxian reported the possibility of a very large collection; it will bring Q3 to suppress the role of gold simple understanding is that next month will continue decline; but longer subject to periodic adjustment in July, from the perspective of time weekly face the possibility of a rebound is also increasing; another argument is that gold will face a longer period to adjust , then the short-term technical secondary will head the search for the establishment of a technical fix, investors should be concerned that once the rebound then the rebound cycle and amplitude; because this action will have on our guide!

Trading Strategy Reference:

Rebound from yesterday and the day closed line situation, short-term momentum is still continuing on the probe; particular lines and 480 minutes 360 minutes Line K Line shape; so the operation in 1190 can do more around, stop 1185; s 1207 goal, the second goal of 1215 in the vicinity;

International Precious Metals Market Briefing July 23

Performance report due after the publication of risk preference to heat up, the New York Mercantile Exchange (COMEX) gold 22 closed slightly higher, COMEX gold futures rose in August 1,195.60 dollars an ounce.

1, closing comments:

Integrated media reported on July 22, the New York Mercantile Exchange (COMEX) gold futures closed slightly higher on 22, as better-than-expected corporate performance to some extent, eased investor concerns about slowing the economic recovery, a number of market risk appetite warming.

New York Mercantile Exchange, August gold futures rose 3.80 to 1,195.60 dollars an ounce, up 0.3%. Intraday high at 1,201.20 dollars, the highest price for the 16 years.

22, the U.S. stock market soar, business performance reports and the euro zone economic data become the focus. Performance in recent weeks, reports and economic data showed that economic recovery may not be such as the look is so bleak outlook. Precious Metals Futures on the 22nd to benefit from risk appetite, both oil and copper prices soared.

Analysts said traders will be eager to be released on the 23rd of concerns about the European banking sector stress testing results. If the stress test results show that the European banking industry is in a safe, then the gold or lower, a result of such precious metals as a result of or further reduce demand for alternative investments.

Nymex October platinum futures settled down 40 cents, to 1,529.40 dollars an ounce, close to steady. September palladium futures rose 4.75 U.S. dollars to 456.90 U.S. dollars an ounce, or 1.1%.

COMEX September silver futures settled up 31.7 cents, to 18.120 U.S. dollars an ounce, or 1.8%.

Second, the following is the COMEX gold closing quote of 22 (unit: USD / ounce):

Contract Open High Low Close Volume Change positions

July / 2010 (GLNN) 1194.4 1196.0 1194.4 1195.5 3.9 54 31

August / 2010 (GLNQ) 1184.1 1201.2 1180.7 1195.6 3.8 108311 227429

October / 2010 (GLNV) 1189.0 1203.0 1182.6 1197.4 3.7 4830 30952

December / 2010 (GLNZ) 1188.1 1204.6 1184.4 1199.3 3.8 29192 158628

February / 2011 (GLNG) 1192.4 1204.3 1192.4 1200.9 3.7 1387 20299

April / 2011 (GLNJ) 1201.1 1201.1 1201.1 1202.4 3.7 65 17444

June / 2011 (GLNM) 1190.8 1207.2 1190.0 1203.9 3.6 401 14665

Source: New York Mercantile Exchange

Third, following the Shanghai Gold Exchange price of 22 trading unit: yuan / gram AgT + D Unit: RMB / kg

Contract Open High Low Close Change (yuan) Price volume weighted average price

Au100g 262.20 262.20 259.50 259.64 -1.43 -0.0055 260.26 46.4

Au9995 260.76 260.80 258.60 259.19 -0.70 -0.0027 259.22 3,082

Au9999 260.99 261.00 258.80 259.02 -0.98 -0.0038 259.38 4,754

Pt9995 344.00 344.00 342.75 342.78 0.71 0.0021 343.47 124

AuT + D 260.50 260.85 258.46 258.91 -0.99 -0.0038 259.40 14,396

AgT + D 4135.00 4135.00 4107.00 4115.00 -9.00 -0.0022 4118.00 103,246

Ag99.99 4150.00 4150.00 4150.00 4150.00 0.00 0 4150.00 600

Deferred compensation payment of direction: AuT + D - to pay more space; Ag (T + D) - extra space.

Note: The volume measured for the two-way

Source: Shanghai Gold Exchange

Golden opportunity to rally U.S. dollar fell sharply

Tuesday (July 13) the gold market opened 1194 U.S. dollars, up 1,217 U.S. dollars, the lowest 1194 U.S. dollars, to close at 1,210 U.S. dollars, up 16 cents, or 1.34%.

Fundamentals are relatively warm, the Greek government bonds auction smoothly, easing the Portuguese by Moody's downgrades the impact of eliminating the debt crisis, investors in some of the concerns in Europe, the euro against the U.S. dollar back on 1.27. Strong performance of the United States start to promote the market risk appetite, global stock markets soaring. U.S. May trade deficit unexpectedly expanded the dollar. Sharp drop in the dollar and the market, driven by optimism, opportunity to rebound to 1200 U.S. dollars of gold above, short-term continuation of the trend shock. Recent market news adverse effects on the dollar, the dollar declined sharply. Adverse factors as the gold was also a significant adjustment, but the recent trend in terms of gold, gold buying in the bottom of obvious, gold and the dollar again has shown a reverse trend. In the current market environment remains unchanged, the gold and the dollar's run trend will continue, the gold will be temporarily out of dollars into the shock period.

Technically, the current price of gold in 1200 U.S. dollars to the vicinity of shocks, but the market outlook is still on the downside risk. MACD indicator showed a downward trend has not been changed, with no obvious narrowing Brin, adjusted to 1170 U.S. dollars of gold is expected to better position nearby, then enter the high and volatile.

Risk will improve the price of gold down Powei

Tuesday (July 6) the central bank of Australia in Asia and the domestic economy to make a positive Ping Gu Qian Jing, market risk tolerance will Shangsheng, another Institute for Supply Management (ISM) announced the non-manufacturing report Fashankechen investors further up on the U.S. economy ease concerns about the dollar. Gold opened the day in 1207, up 1,213 U.S. dollars, the minimum 1189 U.S. dollars, near the end to close at 1192, the day down 15 dollars of gold, down 1.24%.

Fundamentals, the Australian central bank Tuesday kept its benchmark consecutive month interest rates unchanged, given the current market sentiment cautious, Australian central bank's current interest rate level is satisfactory, while the Australian central bank remains bullish on Asia and the domestic economic outlook. U.S. ISM non-manufacturing index continues to fall, ABC consumer confidence index has also dropped, indicating the U.S. economy could face the future adjustment. The European banking sector stress testing results will be announced shortly, 目前 for investors to fully reveal the euro zone banking sector risks in the end how much, 这一 results may inspire the confidence of investors, the short term, will help enhance the risk of Yiyuan. Gold has been pre-hedge assets as the role of debt crisis in Europe is spreading rapidly up the process, reaching a record high 1,264 U.S. dollars / ounce, will upgrade the current risks in the short term will have a negative impact on the gold price, but will affect the medium-term gold bull market risk will require further observation of the correlation with the gold price.

Technically, the price of gold began to Powei down, fell to 1,200 dollars less, and established short-term downward trend in gold. From the graphical view, short-term support level is around 1180, the medium-term support at around 1160, shows that there is still some gold in the recent decline in space. Investors are advised not to do more short-term gold, but rather wait for the market to re-establish the unity of views on the gold assets. If the gold price down to 1160 U.S. dollars, the phenomenon of strong support, and can stabilize, investors buy gold safer here; if 1160 U.S. dollars below the support level is fast, gold down more space will be open, you can see low of 1,120 U.S. dollars / ounce in the vicinity.

China looking into the SDR RMB

In the recently concluded Lujiazui Forum, Bank of China's financial markets, once more thank Secretary expressed the hope that one day the yuan to enter SDR SDR components, but can also consider making the yuan instead of the dollar as the reserve currency countries This will solve the problem of imbalance in the international financial system.

However, Xie was also recognized more, to achieve the balance of the international financial system will not be easy, time-consuming for a long time. But he is convinced that economic growth as the world center of gravity shifting from the west to the East, the emerging market countries 的 currency 会 in the future international monetary system play an increasingly important role, dollars or euro the international monetary system can not solve all the problems.

Goldman Sachs said in a recent report that the U.S. share of global GDP, the largest, but the share of global exports and China is in fact almost the same. Only because this is not renminbi freely convertible currency, the IMF can not be added to the RMB in the SDR.

The report also speculated that if the weight of SDR based solely on exports, the composition of the SDR is expected for 2020: RMB, U.S. dollar, euro, yen, pound sterling. If the value of exports in 2009 calculated by the weight of SDR, its composition would be: RMB, USD, euro, yen, pound sterling.

But this is only a hypothetical but only because the weight in determining the SDR, the need Kaolv another important Biaozhun: each currency reserve assets Zai other IMF member countries Zonge Zhong importance. And as being unable to prevent the yuan low share in the global pattern of reserves, and therefore greater share of global reserves, before the role of China in the SDR will not increase dramatically.

SDR is the trend of RMB into

Kahn said that China's rapid economic development is to allow the yuan to enter the main driving force of SDR, but when talking about the yuan will be entering the ranks of the SDR basket of currencies, he said "the sooner the better." But he also stressed that the RMB exchange rate and the real market price before the realization of free-floating yuan is still difficult to go into a basket of currencies.


Kahn's comments come as no doubt the reform of the IMF, he had once been expected to push the reform with the IMF, China and other Asian emerging market countries in the IMF's role, the right will be increased accordingly. "I will have more reasons to support the inclusion of other currencies in the SDR, the renminbi will be a starting point."

Kahn also talked about the day of resumption of foreign exchange reform, he believes that because the RMB is still undervalued, I believe that the reform on the situation will naturally change. He said the appreciation of the renminbi in China's interest, but can not solve global trade and financial imbalances.

Relevant information, SDR is a supra-national reserve assets of the U.S. dollar, euro, yen and pound to a basket of currencies such as the composition, is an IMF member assigned to the right of use of funds. At present, SDR in U.S. dollars accounted for 44%, 34% euro, yen and sterling 11%, respectively.

Factors affecting price movements of gold

70 years before the 20th century, gold prices were decided by national governments or central banks, international gold prices stable. The early 70s, the U.S. dollar price of gold is no longer directly linked to the market price of gold gradually, changes in factors affecting the price of gold increasing, specifically, can be divided into the following areas:

1. Supply factors:

(1) the stock of gold on earth: the world that there are about 137,400 tons of gold, while on the groundstock of gold is still about 2% per year growth rate.

(2) the demand and supply: the annual supply of gold is around 4,200 tons, the new output of gold each year accounted for 62% of annual supply.

(3) the cost of a new gold mining: gold mining around the average total cost of just under 260 U.S. dollars / ounce. Since the development of mining technology, gold development costs over the past 20 years, decline.

(4) gold-producing country's political, military and economic situation changes: in these countries, any political, military unrest no doubt will have a direct impact on the quantity of gold produced in the country, thereby affecting the world's gold supply.

(5) central bank selling of gold: the Central Bank is the world's largest holder of gold in 1969 to 36,458 tons of official gold reserves, accounting for all the surface gold stock was 42.6%, and by 1998, official gold reserves of approximately 34,000 tons, accounting for all the gold mining stock of 24.1%. Calculated at current production capacity, which is equivalent to 13 years of world gold mine output. As the main use of gold reserves by a significant asset for the production of jewelry a gradual change of metal materials, or to improve its balance of payments, or to inhibit the international price of gold, so, 30 years, the central bank gold reserves both in absolute terms and relative number of greatly on the decline, the decline in the number of major stock sell-off leaning on the gold market gold reserves. For example, the Bank of England's massive sell-off, the Swiss Central Bank and the International Monetary Fund gold reserves to be prepared to reduce the recent decline in the international gold market, the main reason for gold.

2. Demand factors: demand for gold and gold is directly related purposes.

(1) the actual demand for gold (jewelry, industrial, etc.) changes.

In general, world economic development speed determines the overall Xu Qiu Le gold, such as in microelectronics field, increasingly used to protect the gold Zuo Wei Ceng; in the field of medical Yiji construction Zhuang Shi Deng, Jinguankeji of Jinbushide gold Tidai Pin Buduan appear, but the gold metal for its special nature still increasing its demand.

In some areas due to local factors have a significant impact on gold demand. As has always been a great demand for gold jewelry in India and Southeast Asian countries due to financial crisis, since 1997, gold imports have fallen sharply, according to the World Gold Council data show that Thailand, Indonesia, Malaysia and South Korea the gold demand fell by 71 %, 28%, 10% and 9%.

According to statistics, China's per capita gold consumption is only 0.2 grams, and compared to the world's largest gold consumer, there is a big gap. India's per capita gold consumption is 0.85 grams, equivalent to China's per capita gold consumption more than 4 times. From China's economic development and per capita income, China is much higher than India. Therefore, China has a very large potential consumer of gold, the outlook is very impressive.

(2) preservation needs.

Central Bank gold reserves has been used for prevention of domestic inflation, an important means of regulating the market. For ordinary investors, investing in gold is mainly in the inflation situation, to achieve the purpose of preservation. The trend in the economic downturn, because gold is more than monetary assets, insurance, lead to increased demand for gold, gold prices rose. For example: three dollars in the Second World War crisis, the U.S. balance of payments deficit becoming a serious problem, countries hold a substantial increase in the dollar, the market value of the dollar's confidence, investors rush to buy a lot of gold, a direct result of the Bretton Woods system of bankruptcy . 1987, because of depreciation of the dollar, the U.S. deficit increased instability in the Middle East, also have prompted the international price of gold surged.

(3) speculative demand.

Speculators in accordance with international and domestic situation, using the gold market gold price volatility, combined with the gold futures market trading system, a large number of "short selling" or "cover" the gold, gold demand artificially create a false impression. In the gold market, down nearly every large hedge fund with short-term borrowing gold and selling in the spot gold market in COMEX gold futures to build the large number of short positions. In July 1999 the price of gold fell to 20-year low, the U.S. Commodity Futures Trading Commission (CFTC) released data showing speculative short positions in COMEX close to 900 million ounces (300 tons). When the trigger a lot of stop-loss selling, the gold price fall of the Foundation took the opportunity to cover profit, a slight rebound when the gold from the manufacturers selling to hedge long-term suppression of gold prices to rise further, while giving new opportunities fund re-establishment of short selling positions when the price of gold formed a decline are falling pattern. Purcell R & D center of high gold and silver high-Gold, said: "Now the price movements of gold market is not entirely decided by market supply and demand for simple, nor by the central banks in the meantime a simple game, in which speculative factors on the impact of the price also has a large proportion. "

Zijin Mining to further postpone overseas acquisition

Zijin Mining (601 899) 7 announcement, said on May 6 this year, the company wholly owned subsidiary of Kim Yun-Mining (BVI) Limited announced that the tender offer Indophil Resources NL (hereinafter referred to as "Indophil") is valid from 5 in 2010 14 (Friday) 7 pm (Melbourne time) extended to 2010 7 月 9 日 (Friday) 7 pm (Melbourne time). Analysts worry about this, whether the company met with the foreign acquisition of a resistance.

In fact, as early as March 10, 2010, Kim Yun-Mining announced the acquisition of this offer is valid from Indophil at 19 o'clock on the March 19, 2010 be extended to at 19 o'clock on the April 16, 2010. It took nearly a month, Kim Yun-mining the tender offer period was extended for another month, until at 19 o'clock on the May 14, 2010.

As at 9 o'clock on May 6, 2010 (Melbourne time), Kim Yun-mining and its associates held by Indophil 29.81% interest [under the Australian Corporations Act 2001 (the Corporations Act 2001 (Cth)) definition].

As of this announcement, the tender offers have been Australia's Foreign Investment Review Board approval; Indophil has completed Alsons Corporation SMI3.27% interest held by the acquisition; Tampakan copper and gold project in the final feasibility study report has been completed and submitted to the Philippine Bureau of Mines and Geology.

First half of the stock market you make money yet?

In the first half of the stock market on the Little Joe is concerned, full of too many accidents. I remember Chinese New Year back home, she also vowed to family members, this year for the assets in the stock market to expand to 10 million yuan. Little Joe with several research institutions, researchers, familiar relationship between fund managers, end of last year, we gather Shihai looking on the market this year,'s where you can actually very disappointed.


June 20, Missy's hand cut off all pharmaceutical stocks, liquidate the loss of her 60 million, Joe said: "Fortunately, the stop too early, bad things Kuidiao 100 million." Little Joe is professional investors, more than ten million of capital from the earliest to the present net worth of nearly million, Missy created a stock market miracle.

With the securities industry and an extensive network of skilled manipulator of technology, Xiao Qiao in the stock market myth repeatedly hit unbeaten. This year's stock market Querang Little Joe a little bit blind, starting from April, she was the main short-term operation, generally a stock tens of thousands of pieces to make a shot, "In fact, in April, I can share all, from the 4 mid-month, continuous or shade the market, almost all of the stocks are down, very few investment opportunities, in this market, you again how very difficult operation. "Missy said. "Buffett has a famous saying: 'If you're in the wrong way, running is useless', we are now a wrong road, trying to make money, and Burongyia."

The pain of investors: loss of 35 thousand yuan per capita

Indeed, statistics from the first half, we can see that China's A shares staged a free fall. From 3277 points to the June 30 close of 2398.37 points, six points between the main stock index has slumped more than 800, a drop of as much as 26.82 percent, while the Shenzhen Component Index also alarming decline, reaching 31.48%. Individual stocks is devastated cities in more than 1,800 individual stocks (shares not included in the statistics), stocks rose less than 3 percent.

Real economic growth rate of more than 10% of China, A shares in the first half of the decline was busiest in the world. The market value of Shanghai and Shenzhen evaporated 5.88 trillion yuan, is likely to exceed the first half of all revenue.

Securities Daily and Digital 100 market research firm's latest survey of investors in the first half of less than two percent profit. What investors lost money and how much? The board's data showed that as at June 25, Shanghai and Shenzhen A shares account for a total of 144,488,300, to shareholders each holding two accounts Shanghai Stock Exchange and Shenzhen calculation, the current A-share market reached 072 million investors order to estimate the loss of 35,000 yuan per capita in the first half shareholders.

Loss of 35,000 yuan per capita in the media measured out according to the figures released, though not universal, but it also reflects the terms of the retail investors, in the first half would like to make money from the stock market is not easy.

Little Joe early in April to help a friend open an account manipulator, two months after the flesh of friends, after clearance of a calculation, friends, lost about 15%. "Bear market, you can do is liquidate," Missy said.

However, Missy own stock in the first half as a whole, or 10% of revenue, Little Joe is also very satisfied, she said, thanks to its own in April before the operation, there is a stock theme in Chongqing, earned her more than 100 million.

"The stock market, which can act, there must be a good investment philosophy." Missy said. Indeed, it is relying on the correct way of investment ideas and manipulator, Missy be in an invincible position in the stock market.

Investment market has always been based on the success of Hero, only to make money is the last word, then we have to remember is, read the re-involvement not understand the wait and see, no matter what kind of investments do, these arguments are true.

Hong Kong's richest man Li Ka-shing said of his business secret, said: "it is not too special, circumstances were good, not overly optimistic; circumstances bad, not too pessimistic." In fact, this is a rich and unique self-confidence and invest. With self-confidence can not be swayed by outside forces, with good investment habits can there be the right decision.

Basic people's wounds: equity funds almost across the board at Lok Ma

In the first half, investors are basically losing money stock, while the Christian Democrats who is also escape. Peng Quan Industrial Securities client manager is a typical Christian Democrats, when reporters asked how to treat the first half of the stock market situation, Peng Quan frowned that the subject well bored. Peng Quan is a typical Christian Democrats, he does not play the stock market, and only buy funds wealth management products. Peng Quan said: "as I hold the financial products currently have an 8% loss, and this yields of similar products in the rankings this year was good, and if their own stock operations, and most people should have more than 30% loss of it. "

In fact, as with many individual investors, fund managers are not better than the first half of the day, in the first half they mainly do is to cut positions to sell the stock: rapid decline after April, the Fund has fallen to historically low position, most fund companies positions cut to 70% or less.

In the domestic fund industry 12 years in the history of the first half of this year's fund performance is only better than the same period in 2008, second worst in history; in addition to a theme made Castrol income funds are 6.34%, the comparable shares of direction funds almost across the board to fail in the first half, compared with the end of 2009 has shrunk more than 500 billion.

No wonder some investors believe that the relative money to the fund, or more properly their own stock. The "big bad, the stop-loss on their stock, or more than the fund to be flexible, I can liquidate all stocks, while funds are then required to keep 60% of the positions." Missy said.

However, if the investment bond fund, in the first half there was still a relatively good income. Positive returns in the first half of 96 funds, in addition to the theme of equity funds Castrol, the rest are bond funds, which yield the highest return on the East stability, rate of return than 8%. Bond funds in Ruoshi of asset allocation and hedging capabilities once again be fully realized.

The new stock market wealth: equity investment

Although the market in the first half, by those who rely on the experience and technology experts has not been too many performance opportunities, but some Juyou "alternative" means of creating wealth for Touzizheque still 拥有 incomparably bright "money scene."

"Basketball Star" Yao received prior to 0.55 yuan, 67.5 million shares on Strong Triangle. April 2, Union on Strong (002,383, stock it) successfully listed in the Shenzhen Stock Exchange Small plates, so that Yao Ming With the IPO staged a "Jam" and the highest so that he received more than 7000 million of revenue, the highest rate of return when 200 times.

With an IPO only, the original shareholders of the company to become a millionaire overnight wealth creation myth for many ordinary investors heart itch. But not all private equity funds have the capacity to "sit back", frequently several hundred thousand dollars the minimum investment criteria, many investors stopped. And, if you do not have a star or the hands of a particular resource, it is very difficult when the stock market through equity investment of "dignity in!" Is this wealth of ordinary investors missed the myth of it?

Little River at a water company to finance, usually pretty idle speculation point she shares. But the small river on the stock did not understand, stocks follow emotions, and although the stock market had fought for so many years, no losses over how, it can not make too much money, but the small river of time spent in the stock to work more than a few years indeed a very tiring down. Separated from the stock to meet three small river, the recent few things about the stock, the original Little River to the stock market as part of its money on an investment company that is more fire in recent private equity fund. The investment firm is launched in the municipal finance bureau, as a small river in the Financial Bureau brother, a small river also have the opportunity to be involved. Xiao Jiang said: "It is still sound than the stock more than annual allotment dividend, profit rate of doing we is not bad, Paul not allowed to someday be able to market, then I could be like Yao Ming back to the original shareholders, as when one has."

Standard Chartered Bank: Current price of gold has reached peak

Yesterday, Standard Chartered Bank Personal Banking Wealth Management Vice President Feng Bogong cloth of the second half of the forecast economic outlook: China's economic growth rate will slow down, GDP growth rate of 11.9% from the first quarter fell to 8% annual growth rate maintained at about 10%. Meanwhile, Feng Bo that the price of gold has reached a peak in the short term will not have a substantial rally.

China's economic growth slowed in the second half

Feng Bo that the economic slowdown in China early next year will be more obvious, when GDP may fall to below 8%.

Based primarily on the current tight real estate policy, another factor is added to reduce infrastructure construction projects. "Since April this year, the central greater efforts to control the property market, real estate agency unwilling to price to sell, real estate turnover decreased significantly." Concern on the outside end of the central control measures will ease the property market, Mr Bo said "unlikely" He expects prices will drop at the end of Tier Two to three percent. "With the economic slowdown, the outside world the pressure for RMB appreciation would ease." Feng Boyi, said the global economic recovery is slow, the second half of a double-dip recession risks remain, but not inevitable. Lower than expected U.S. economic recovery, the job market weakness, the Fed may not raise interest rates the third quarter: Europe affected by the debt crisis in 2011 before the rate hike may be almost zero.

There will be no short-term market rally

"From the end of last year, gold will rise in a channel, has reached 1,400 U.S. dollars / ounce, it has reached a peak." Feng Bo said.

Feng Bo that gold as a traditional hedge in the financial crisis has highlighted the unique effect, but for now, soon there will be no sharp rise in the gold market, the future does not appear 100 -200 point of growth, long-term price of gold will drop to 1,100 U.S. dollars / ounce.

Therefore, he does not recommend investors to intervene in the gold market at this time.

Hui Sun Post reporter muang met intern

Restricted Shares lifted next week, the scale of the two cities down the market value of about 49.5 billion yuan ban

Xinhua Beijing on July 18 call next week (July 19 -7 23) A shares lifted the market value of restricted stock sale reduced in scale than this week, the two cities will be limited to 4.529 billion sale of shares listed after the lift circulation, lifting the market value of about 49.5 billion yuan.


According to Southwest Securities (600,369) Research and Development Center, Shanghai and Shenzhen next week there will be 4.529 billion shares of 25 companies ban circulation to the previous day on July 16 closing price, the market value of 49.522 billion yuan ban . Southwest Securities researcher Zhang Gang said the two cities next week than this week lifted the number of shares of 12,029,000,000 shares decreased 62.35%, while the lifting of the ban next week, the market value of shares this week's 52.454 billion yuan less than 5.59 %, at moderate levels.

Data show that lifting of the ban Shanghai Stock 9 Number of company shares at about 2.575 billion, accounting for the total number of Restricted Shares in Shanghai Stock Market 0.34%, lifting the market value of 25.005 billion yuan, Shenzhen City, 16 companies around 1.955 billion shares lifting of the ban, Shenzhen accounted for 1.28% of the total number of Restricted Shares, lifted the market value of 24.517 billion yuan.

9 companies in the Shanghai Stock Exchange, the first open shares (600,376) lifted shares in circulation is the nature of private placement agencies placement of shares, the Shanghai Traditional Chinese Medicine (601,607), etc. 5 lifting of the ban is placing shares split share structure reform, aerospace mechanical and electrical (600 151), Founder Technology (600 601) ordinary shares lifted the share placements, Nanjing, Bank (601,009) lifting of the ban is limited to starting the original shareholders sold shares. Which will be lifted on July 19 in Nanjing bank will have 878 million shares of Restricted Shares listed on lifting the ban a market capitalization of 9.37 billion yuan, the Shanghai Stock Exchange next week, lifting the market's largest companies.

16 companies in Shenzhen, Yichenggufen (000 616) for the split share structure reform Restricted shares, Beijing Lear (002,392), etc. 8 as the first agency placing shares, Bank of Ningbo (002,142) and other five original shareholders as the first limit selling, and another two for the private placement agency placing shares. Which will be July 19 to lift the embargo lifted Bank of Ningbo number of 1.415 billion shares worth 16.428 billion yuan, a lifting of the ban next week, the market value of the largest companies in Shenzhen.

It is worth mentioning that eight institutions placing shares lifted starting companies, three small plates for the company, five companies for the GEM. Lifting of the ban the number of shares of these companies accounted for the proportion of the original shares were 25%, the majority of the total capital ratio of approximately 5% of certain cash pressure from the previous day's closing price of view, this eight total market value of the company's recent lifting of the ban 2 billion yuan.

Under the arrangement, the lifting of the ban next week, the 25 companies, 13 are located in 19 July, lifting total market value of 45.337 billion yuan, accounting for the whole week lifted the market value of 91.55%, while the eight starters institutions placing shares ban companies, five in the July 21 ban, three in the July 23 ban.

Morgan Stanley optimistic forecast annual GDP growth rate of China's economy over 10%

Xinhua Xinhua in Hong Kong on July 18 Morgan Stanley China's economic growth is forecast to exceed 10% of the consumer price index (CPI) rose in July peak, the peak of about 3.5% -3.6%, total annual CPI increase of about 3%.


Wang Qing, chief economist for Greater China of Morgan Stanley said here, they forecast the Chinese economy this year, more optimistic.

Wang recent interview with reporters, said the second quarter of China's economic growth slowed 1.6 percentage points year on year to 10.3%, not more than the bank expected early next year, growth slowed and reduced effects of the policy and last year, "the former low after the high "base about the growth. He expects economic growth will continue to slow down in the second half, three quarters of about 10%, 9% in the fourth quarter or less, the annual GDP growth rate still exceeds 10%.

Wang said the economic slowdown is not important, the key is whether the speed and can withstand the expected range. He believes that China's economy since the third quarter, the momentum may be slowing faster than last year because "after the former low-high" base year, but also to Europe and the United States slowdown in economic growth and the impact of property regulation to the construction industry and other Shiti economy.

As inflation expectations diminished, Wang said the central bank raise interest rates less likely, throughout the year by 7.5 trillion yuan of credit continues to set the scale and pace of implementation; the same time he also said that if the economy slows more than expected, the current economic operating conditions can be fine-tuned to provide space for policy.

Famous economist of the State Council Development Research Center, Ba Shusong, deputy director of Institute of Finance, 17, said from the National Bureau of Statistics data released last week to see "the year CPI at 3% of the goal can be expected."

He was on the 17th night in the Overseas Education College of Shanghai Jiaotong University to do "economic recovery in the sustainable development strategy" made the remarks during talks.

Ba Shusong said the first half from the National Bureau of Statistics data shows that overall economic growth is very obvious, especially in the strong-than-expected export figures.

Ba Shusong said that the rate of decline in prices and industry data are somewhat unexpected. He believes that such a situation there are three main factors. First, in June a large number of vegetables and fruits market, causing prices of vegetables and fruit prices dropped sharply chain, causing food prices. Second, a significant reduction in the international market prices transmitted to domestic markets. Third, economic restructuring, many enterprises have overcapacity and "pressure stocks" action.

"From the price of view, short-term drop does not mean there is no pressure." Ba Shusong view, the long-term factors perspective, future resource, environmental protection of Shuishou policy Tiaozheng, labor costs and wage rate of increase in international Zijin lower costs and relatively liquid sufficient environment as agricultural products historically low, "which require high degree of attention. "

National Bureau of Statistics on July 15 released in June and the first half of the macroeconomic data shows that in June this year, CPI increased 2.9% year on year; June PPI up by 6.4%.

For the real estate market, Ba Shusong that the new "State 10" by the contractionary effects take time to appear. His own forecast in the fourth quarter to first quarter of next year, will increase the supply of real estate.

Ba Shusong said earlier from the bank from a "stress test" results, as well as major banks to strictly implement the proportion of 35% down payment, so that "real estate price adjustment is unlikely to put pressure on the banking industry."

"Of course, there are also real estate adjustment 'dilemma' problem." Ba Shusong said that if the real estate industry, sharp adjustments will make the upstream and downstream industry restructuring; not adjusted, then the policy credibility can not guarantee and can not "win the trust of the people. "

Ba Shusong said the adjustment process in the real estate industries, with the decline in land prices, real estate market, price signals can re-enter the market "take in", plus room to speed up the supply of protection, which can in a certain extent, "hedge" for the real estate industry due to the risk adjustment.

For the "second exchange reform," Ba Shusong that after Bank of China announced a further push forward the reform of RMB exchange rate formation mechanism, enhance the flexibility of RMB exchange rate, which means that the yuan dollar peg system out completely, "This is a very important signal" .

Ba Shusong said the yuan is not pegged to the dollar so tight, and strengthen the present "a basket of currencies," RMB exchange rate formation mechanism, this is only "the first step." The second step will be to consider expanding the yuan's fluctuation. The third step was the announcement of "a basket of currencies" index, "This is 'exchange reform' of the medium-term objectives."

Central resolutely curb high prices have more than 600 million in funds allocated room coded protection

Housing and Urban and Rural Construction Minister Jiang Weixin 17 in Harbin to attend the "2010 China Mayors Forum" that must unswervingly continue to resolutely implement the State Council's "strong containment on housing prices in some cities the notice" to speed up security of housing construction, good use of housing provident fund loans to support affordable housing in the pilot.

Jiang Weixin said, according to the requests carried out around the time of the real estate development business conduct inspections, have been reported from the situation and the situation around the sampling point of view, most of the provinces and autonomous regions and cities of the Government on this the work is important, but there are some provinces have not the time reported by the State Council. "Rectifying and standardizing the order of the real estate market is not a behavior problem can be solved, to jointly study the establishment of long-term real estate market order management system."

As of July 13, Beijing, Heilongjiang 13 provinces, municipalities and autonomous regions have already submitted a check and handle the situation. Jiang Weixin urged all localities to pay close attention to the completion of inspection and reporting work for the Ministry of Housing and Urban aggregated to the State Council.

On accelerating the construction of affordable housing, Jiang Weixin said Premier Wen Jiabao's government work report this year, protecting the building and the transformation of squatter settlements to build a total of 5.8 million units of housing. Affordable housing, including low-cost housing construction, economical and practical housing construction, limit housing construction, public rental housing construction and a variety of security after Slum resettlement housing construction, housing and urban and rural affordable housing on behalf of Ministry of contact and coordination team has signed agreements in various provinces and cities, most of the provinces and cities and counties have signed a mission statement, "This is 5.8 million units this year, the task must be completed."

Jiang Weixin said the 5.8 million to complete the task of building affordable housing units, central authorities have issued more than 600 million in funding, the policy measures have been set and issued in document form. He also said the State Council approved the use of housing provident fund loans to support affordable housing pilot, Beijing has identified 28 cities as pilot cities, housing has been the Ministry of Finance and Planning Ministry, the People's Bank to develop a specific pilot measures, including specific lending approach.

Jiang Wei noted that the new, all cities have to Zai guarantee the quality of the same project started Jianshe safeguards 住房 Jiakuai may, according to the actual situation of Di Fang Lai, specifying quantity, Ye can Cechong in one respect, at the same time in accordance with open, fair and just principles Zuohaofenpei, Jia Jiang follow-up management.

Housing and Urban and Rural Construction will begin in August 10, using two weeks around the start of the construction supervision and inspection to conduct a comprehensive, complete results of the bad to reprimand, to complete a good reward.

"China Urban Development Forum" held in Beijing on the 17th. In this study the Chinese urbanization and urban development in China road forum, high housing prices once again become "an object of hatred," denounced by the delegates.

It is understood that China's urbanization rate in 1978 was about 17.9%, the data in 2009 has reached 46.6%. Since reform and opening, China's urbanization growth rate is about twice the world average over the same period. Today, China's urbanization is exposed more and more problems.

Economic Information Daily deputy editor Liren Hu said in his speech on behalf of the organizers, the current continuing rise in house prices is to stop at the gates of migrant workers, the pace of urban development in China has therefore been blocked.

Tsinghua University, Regional and Urban Development Research Center Shizu Lin pointed out that the housing allocation is now not just an economic issue, but from the perspective of political thinking. He said that as our land is state-owned, so the living conditions of access is a right everyone should have, instead of that money before you can not afford to not work the problem.

In this regard, Former Vice Minister Shen frankly, unfair distribution, house prices are too high, especially in housing low-income families are not well resolved, housing construction has become China's main problems.

Recently, a media report, a 660 cities nationwide survey found that up to 65.4 million units of residential meter readings to zero for 6 months, the vacant room enough for 200 million people live.

Shen said that if the information is accurate, then the need for a second housing census. After 30 years, China has not done a survey, basic data is not accurate. Should be adopted in future surveys, according to new data, to develop new housing policy.

In addition to high prices, the traffic jams, garbage siege, vulnerable groups, such as poverty and public health safety emergencies frequently let the sustainable development of Chinese cities face increasing pressure.

It is reported that as of end of last year, the actual resident population of Beijing 1972 million, total population 543,000 per year rate of inflation. However, 98% of Beijing's energy transferred by the field, as rapid population expansion, new transport supply, water and so the South could be offset by the additional population or swallowed.

Therefore, experts in the field believe that China can not unilaterally take the old road of development of major cities, while urban and rural areas to go to town with a rural, small cities and towns of the development of road construction. Of the existing cities should strive to achieve sustainable development.

Academy of Social Sciences Research Centre of Urban and Environmental Development director Niu Feng Shui that promote sustainable urban development are two fundamental measures, the first is advances in technology, advanced energy saving technologies, reduce the unit product and unit of service of raw material and energy consumption. The second is the adjustment of development paths, promote the use of raw materials, energy saving and environmental protection, planning and construction, and maintenance and use low-carbon buildings.

Beijing residents income gap was widening in recent years, 20% high-income 20% of disposable income is disposable income, low income 4.3 times.

Chinese Academy of Social Sciences and Beijing University yesterday jointly issued a "social construction of the 2010 Beijing Report", the report said Beijing continues to face in the social infrastructure challenges such as high house prices.

Property price gap between high speed

Report, Beijing 2009, the income gap between urban and rural residents reached 1:2.23. Trade gap is more evident among the industry the highest minimum monthly wage and salary income on the ratio of 1:8.2. 20% of urban residents in high-income groups, per capita disposable income reached 50,816 yuan, while 20% of the disposable income of low-income groups, only 11,729 yuan, the former is 4.3 times the latter.

High house prices accelerated the gap between the property of Beijing residents. 2009 Beijing urban and rural incomes increased by 10%, but prices soared 73.5% year, beginning a 100 million to buy a house, one-year return on assets of 70 million yuan. And absence of a real estate property the property from the rapidly widening.

Price Ratio up to 25:1

Report that the rapid increases in housing prices Beijing severe than the average family's ability to pay. 2008 Beijing urban residents was 24,725 yuan per capita disposable income, average household disposable income of 64,285 yuan, with an average family household residential area of 90 square meters, in November 2009, the average price of Beijing housing 17,810 yuan / square meter, to pay 1.6 million yuan, the equivalent of 25 years the average family disposable income, price earnings ratio of 25:1.

Lack of affordable housing push prices

Lead to higher prices of the most important reason is the inadequate supply of affordable housing. The blue paper suggested that Beijing should put 60% into the security policy system, 20% of the population (middle-income earners and low-income persons) can enjoy the two limit housing policy, 20% of the population (in low-income people) can rent the public rental or buy affordable housing, 20% of the population (low-income people) can enjoy affordable housing, public rental and low-rent housing policy.