Xinhua Beijing on August 21 call out of a slump following the trend last week after the rebound this week, the yuan-dollar exchange rate as the main tone. Central parity of RMB against the U.S. dollar continued a half months on Monday after low and gradually move up, once again return to 6.78 range.
Stronger dollar by the international influence of the central parity of RMB against the U.S. dollar hit last week reiterated that the reform on its biggest weekly decline since, falling as much as 350 basis points week, fell to 6.80 range. This week, the U.S. dollar correction, the RMB against the U.S. dollar rebound has also shown the trend. To the China Foreign Exchange Trading Center announced central parity of RMB against the U.S. dollar for the design, the five trading days this week, three days up, two days down, plus or minus 180 basis points. Monday, the central parity of RMB against the U.S. dollar extended losses last week, reaching 6.8064, continued a half months, the lowest since. Daily after the rebound, one after another rose to 6.7979 on Tuesday, Wednesday rose to 6.7895. Followed by three basis points on Thursday after a slight decline, rose to 6.7884 on Friday.
U.S. economic data released this week after lackluster performance continued. Market analysts believe that the recent European and American good times and bad economic data, the market can not find a little direction, investors in the hedge and the economy will "double dip" between the expected swing, the dollar is not yet clear to the short term, nor do stronger than expected appreciation of the yuan.
Forward market, the yuan against the U.S. dollar is expected to remain stable. 20 evening, to measure the expectations of RMB appreciation in overseas markets overseas market, the dollar non-deliverable one-year newspaper 6.6718 yuan, compared with spot closing price of 6.7902, an indication that after one year at a rate of 1% appreciation of the RMB to 2% range, still more rational.
19 June, the PBOC announced to further promote the reform of RMB exchange rate formation mechanism since the small appreciation is obvious characteristics of two-way floating exchange rate flexibility was enhanced. The latest BIS data, in July the real effective exchange rate of RMB chain drop nearly 1%. Analysts pointed out that this was mainly due to the month the euro, yen and other currencies against the dollar rebounded, and the indicators of inflation in China relative to the major trading currency countries still maintain a high level.
This week, the central parity of RMB exchange rate against the euro, the central parity of RMB against the British pound showed a slightly rocky. Bank of China (601,988, stock it) market analysts pointed out that the slowdown in U.S. economic recovery can not stay out of other countries, the recent euro zone and Britain are good news continued, investors looking for dollars in alternative assets and hedge Dong Li to seek consensus between, creating the euro and sterling recent trend of repeated shocks.
U.S. Treasury data released this week showed that as at the end of 2010, 6, China held 843.7 billion U.S. dollars were U.S. Treasury bonds, following the holdings of 32.5 billion U.S. dollars in May after the U.S. Treasury, in June re-reduction of 24 billion U.S. dollars U.S. Treasury bonds, but remained the largest overseas holder of U.S. Treasury bonds. At the same time, China holds to a net increase of Fannie Mae, Freddie Mac, the main U.S. agency debt bonds, and in the first half of the holdings of government bonds in Japan and Korea.
Analysts think this shows that China's foreign exchange reserves have been more seriously the benefits of foreign investment. China's State Administration of Foreign Exchange had hot issue in answer to foreign policy, also said foreign exchange reserves held by the U.S. Treasury market, the investment is an act of increasing or decreasing its investment in U.S. Treasury bonds are normal operation. China's foreign exchange reserves for long-term, diversified investments in different assets in the shift, dynamic complementary effect, can effectively control the overall risk of assets to meet liquidity needs, achieve stability and overall value. And stressed that the "two rooms" new financing bonds were not "two rooms" negative impact on stock delisting. Overall, the "two rooms" new issue bonds subscribed in good condition, active secondary market, liquidity adequate.
2010年8月21日星期六
Increasing degree of internationalization of RMB in Hong Kong
More on Hong Kong Stock Exchange has issued a circular to promote the stock brokerage accounts, etc. to accelerate the opening of RMB, the yuan was later trading and settlement process of preparing to test it.
Experts believe that offshore renminbi back to the mainland with a channel set up, further opening up of capital markets in Hong Kong Renminbi yuan overseas use and acceptability is further increased, the increasing degree of internationalization.
Limited return of offshore renminbi
Bank of China announced limited opening of the 17th inter-bank bond market, the mainland, three types of overseas financial institutions, including Hong Kong and Macau RMB clearing bank, Bank and other foreign participation in the central bank and monetary authorities overseas, has been approved in the Mainland in the interbank bond market transaction.
News triggered enthusiastic responses Hong Kong market. Regulatory agencies, financial institutions and the industry have commented interpreted that the mechanism of offshore renminbi back to the Mainland began to build, Jinguanjishi limited impact, however, to stimulate international Touzi Zhe Jiang yuan increase in right possession, to speed up the RMB as an international investment and the development of a reserve currency for the future lay the foundation for the internationalization of RMB.
Hong Kong Monetary Authority Chief Executive Norman Chan said the new arrangements for Hong Kong's renminbi funds and financial institutions, opening a way out investments in the Mainland, Hong Kong can contribute to the further development of renminbi-denominated trade transactions and increase the offshore renminbi business in Hong Kong's attractiveness.
Goldman Sachs in a research report that this arrangement of the construction of the Hong Kong Centre for the benefits of offshore renminbi doubt. As more investment opportunities and choices, Hong Kong banks may be more willing to learn from RMB deposits, which further attract the RMB funds accumulated in Hong Kong for the future lay the foundation for the internationalization of RMB.
More importantly, it demonstrates the Hong Kong market has exceeded RMB trading settlement plans now for the offshore renminbi back to the local community to provide a formal channel for the flow of funds. This has created a Hong Kong bank intermediary role, agencies may benefit expected to include BOC Hong Kong, HKEx, HSBC Holdings, Standard Chartered, Hang Seng Bank and Bank of East Asia.
Allow the return of offshore renminbi, the mainland's long-term bond market is not without benefits. CICC that the short term, foreign currency funding of small and limited amount of investment in the Mainland market, so the impact of the mainland interbank market is very limited.
Medium and long term, given the inter-bank bond yields significantly higher than that of RMB in Hong Kong market, which will attract funds back to the mainland has continued to invest in the mainland renminbi bond market power, thereby increasing the mainland interbank market sources of funding, sophisticated investors structure, long-term bond market is conducive to the development of the Mainland.
Increase the degree of recognition outside of RMB
Accept limited offshore renminbi back soon, immediately welcomed the first foreign-funded enterprises in Hong Kong to issue renminbi bonds.
Global food giant McDonald's chain of 19 commissioned by Standard Chartered Bank issued 3-year renminbi-denominated bonds to raise funds for the amount of 200 million yuan, raising proceeds will be used to develop business in the Mainland. Standard Chartered Bank said the market reflected the warm, short period of time that is recorded in the over-subscription, and Standard Chartered are themselves investors.
McDonald's as well-known multinational brands, corporate bond issuance of RMB in Hong Kong's move also caused the market hot. Andrew Fung, general manager of Hang Seng Bank, that although the bond issue was smaller, but more symbolic. As a multinational giant McDonald's prices, an international high credit rating can not only increase the RMB in the international recognition, improve the RMB bonds attractive to foreign investors, will boost their holdings of yuan, but also reflect Hong Kong's RMB capital market further open renminbi bonds in Hong Kong market will help diversify and strengthen Hong Kong offshore renminbi center.
He is expected back with the mechanism of the yuan to gradually improve in the future there will be more multinational corporations to issue bonds in RMB.
However, the Bank of China International Executive Director and head of debt capital markets, Li Jianmin also pointed out that, in addition to McDonald's, the previous cooperation and roads in Hong Kong only had the yuan corporate bond issue. Currently only two companies of the bonds is not sufficient to establish the RMB yield curve in Hong Kong for the RMB in the future issue of corporate bond pricing. However, when there are more different credit rating of enterprises in Hong Kong issue bonds of varying maturities, the market will provide clearer pricing guidelines.
Laying the foundation for the internationalization process
Renminbi bond market in Hong Kong, while accelerating the development of the RMB trading listed securities market development is also to step up preparation.
HKEx has issued a circular to brokers in Hong Kong, to remind the logistics system and update as soon as possible to open RMB accounts, and later with the brokerage firms that will be on the yuan trading and settlement process for testing.
Many Hong Kong brokerage did not feel a sudden, that has already started preparing. However, the Standing Committee of the Hong Kong Securities Institute Lin, general manager of Fulbright Securities cum often read that if the renminbi-denominated bonds listed on the first stage is due to the current needs of customers in this market may be limited, need more time to understand what the initial product, before deciding whether to immediately to relevant support facilities.
In fact, in Hong Kong, the process of building an offshore yuan market, the recent series of news really overwhelmed some of the market. HSBC Group released a report that some recent initiatives in fact more limited immediate impact, is to gradually improve the RMB in real terms and acceptability for use outside, lay the foundation for future international.
However, the medium term, the renminbi offshore use and acceptability of the increase, the impact of the global monetary system, a far-reaching. Previously, the lack of a sound offshore yuan market, the yuan's internationalization process subject to some restrictions. Now, as holders of offshore investment options to increase the yuan would help to further encourage parties to use the existing channels to the offshore accumulation of RMB outside.
Experts believe that offshore renminbi back to the mainland with a channel set up, further opening up of capital markets in Hong Kong Renminbi yuan overseas use and acceptability is further increased, the increasing degree of internationalization.
Limited return of offshore renminbi
Bank of China announced limited opening of the 17th inter-bank bond market, the mainland, three types of overseas financial institutions, including Hong Kong and Macau RMB clearing bank, Bank and other foreign participation in the central bank and monetary authorities overseas, has been approved in the Mainland in the interbank bond market transaction.
News triggered enthusiastic responses Hong Kong market. Regulatory agencies, financial institutions and the industry have commented interpreted that the mechanism of offshore renminbi back to the Mainland began to build, Jinguanjishi limited impact, however, to stimulate international Touzi Zhe Jiang yuan increase in right possession, to speed up the RMB as an international investment and the development of a reserve currency for the future lay the foundation for the internationalization of RMB.
Hong Kong Monetary Authority Chief Executive Norman Chan said the new arrangements for Hong Kong's renminbi funds and financial institutions, opening a way out investments in the Mainland, Hong Kong can contribute to the further development of renminbi-denominated trade transactions and increase the offshore renminbi business in Hong Kong's attractiveness.
Goldman Sachs in a research report that this arrangement of the construction of the Hong Kong Centre for the benefits of offshore renminbi doubt. As more investment opportunities and choices, Hong Kong banks may be more willing to learn from RMB deposits, which further attract the RMB funds accumulated in Hong Kong for the future lay the foundation for the internationalization of RMB.
More importantly, it demonstrates the Hong Kong market has exceeded RMB trading settlement plans now for the offshore renminbi back to the local community to provide a formal channel for the flow of funds. This has created a Hong Kong bank intermediary role, agencies may benefit expected to include BOC Hong Kong, HKEx, HSBC Holdings, Standard Chartered, Hang Seng Bank and Bank of East Asia.
Allow the return of offshore renminbi, the mainland's long-term bond market is not without benefits. CICC that the short term, foreign currency funding of small and limited amount of investment in the Mainland market, so the impact of the mainland interbank market is very limited.
Medium and long term, given the inter-bank bond yields significantly higher than that of RMB in Hong Kong market, which will attract funds back to the mainland has continued to invest in the mainland renminbi bond market power, thereby increasing the mainland interbank market sources of funding, sophisticated investors structure, long-term bond market is conducive to the development of the Mainland.
Increase the degree of recognition outside of RMB
Accept limited offshore renminbi back soon, immediately welcomed the first foreign-funded enterprises in Hong Kong to issue renminbi bonds.
Global food giant McDonald's chain of 19 commissioned by Standard Chartered Bank issued 3-year renminbi-denominated bonds to raise funds for the amount of 200 million yuan, raising proceeds will be used to develop business in the Mainland. Standard Chartered Bank said the market reflected the warm, short period of time that is recorded in the over-subscription, and Standard Chartered are themselves investors.
McDonald's as well-known multinational brands, corporate bond issuance of RMB in Hong Kong's move also caused the market hot. Andrew Fung, general manager of Hang Seng Bank, that although the bond issue was smaller, but more symbolic. As a multinational giant McDonald's prices, an international high credit rating can not only increase the RMB in the international recognition, improve the RMB bonds attractive to foreign investors, will boost their holdings of yuan, but also reflect Hong Kong's RMB capital market further open renminbi bonds in Hong Kong market will help diversify and strengthen Hong Kong offshore renminbi center.
He is expected back with the mechanism of the yuan to gradually improve in the future there will be more multinational corporations to issue bonds in RMB.
However, the Bank of China International Executive Director and head of debt capital markets, Li Jianmin also pointed out that, in addition to McDonald's, the previous cooperation and roads in Hong Kong only had the yuan corporate bond issue. Currently only two companies of the bonds is not sufficient to establish the RMB yield curve in Hong Kong for the RMB in the future issue of corporate bond pricing. However, when there are more different credit rating of enterprises in Hong Kong issue bonds of varying maturities, the market will provide clearer pricing guidelines.
Laying the foundation for the internationalization process
Renminbi bond market in Hong Kong, while accelerating the development of the RMB trading listed securities market development is also to step up preparation.
HKEx has issued a circular to brokers in Hong Kong, to remind the logistics system and update as soon as possible to open RMB accounts, and later with the brokerage firms that will be on the yuan trading and settlement process for testing.
Many Hong Kong brokerage did not feel a sudden, that has already started preparing. However, the Standing Committee of the Hong Kong Securities Institute Lin, general manager of Fulbright Securities cum often read that if the renminbi-denominated bonds listed on the first stage is due to the current needs of customers in this market may be limited, need more time to understand what the initial product, before deciding whether to immediately to relevant support facilities.
In fact, in Hong Kong, the process of building an offshore yuan market, the recent series of news really overwhelmed some of the market. HSBC Group released a report that some recent initiatives in fact more limited immediate impact, is to gradually improve the RMB in real terms and acceptability for use outside, lay the foundation for future international.
However, the medium term, the renminbi offshore use and acceptability of the increase, the impact of the global monetary system, a far-reaching. Previously, the lack of a sound offshore yuan market, the yuan's internationalization process subject to some restrictions. Now, as holders of offshore investment options to increase the yuan would help to further encourage parties to use the existing channels to the offshore accumulation of RMB outside.
Finished lower total fat, such as riding a roller coaster
After crude oil fell sharply last week, this week, a further decline in crude oil. A recent Credit Suisse report, as oil prices fell more than crude oil, most of the U.S. refinery profits declined.
Wednesday EIA data showed U.S. commercial crude oil and oil stocks rose to 11.3 million barrels total, more than in September 1990 set the record of 11.27 million barrels.
Domestically, the recent fall in international oil prices, but lower oil prices yet, due to the lucrative, gas stations have started promotion, lack of signs that the downstream demand. The dollar index made another sharp rebound in crude oil have cracked an important support level. Friday at 16:00 GMT, NYMEX crude oil is still 75 dollars / barrel below the transaction.
Monday Baosteel, Wuhan Steel, Anshan Iron and Steel (000,898, stock it) have three steel price increases, price formation on the steel support. Weekly either on or of the Rebar Futures traders rebar Bo (West), opening the spot are away. With the overall weakness of commodity markets, prices finished lower on Friday rebar. Friday's closing Bo suppliers rebar (West) spot a continuous contract offer 4,301 yuan / ton, the main force of the rebar futures contract 1101 Price 4311 yuan / ton.
Non-ferrous metal spikes in the first half after a short week, Wednesday have come down substantially from the peak, which decreases among the top Shanghai aluminum, copper, zinc also fell slightly.
World Bureau of Metal Statistics (WBMS) newly released data show that the first half of 2010 remains the world's leading metal show excess supply state. Among them, the global excess supply of 314,000 tons of aluminum city; copper market supply surplus reached a record 80,000 tons.
Qinhuangdao Port thermal coal price this week, little changed, the port remains in the 7 million tons above the stock. With steel prices continued to rise, a slight rebound in the price of coke, usually 30 to 50 yuan / ton, the current focus of the mainstream of the factory in Shanxi Province two quotations from 1650 to 1700 yuan / ton, Tangshan two focal Price 1,700 yuan / ton ; associate a coke factory in Tianjin 1820 yuan / ton.
Agricultural products was mixed this week, wheat, maize remains relatively strong; beans, and oil varieties dropped sharply, Bo traders concerned that the early oil soared up mainly driven by the wheat, the current price of oil market fundamentals do not support substantially upward.
Specifically, the global soybean (information market), palm oil (information market) production continued to increase, ample global inventories. Natural disasters have some influence on the yield, but not as obvious as the wheat.
In addition, the U.S. biodiesel production has dropped significantly. The United States has been relying on soybean oil (information, quotes) to produce bio-diesel, high domestic subsidies make lucrative exports to the EU. However, since 2009, the EU anti-dumping U.S. biodiesel sanctions, a substantial increase in import tariffs, U.S. exports of basic bio-diesel fuel stop, which Shide soybean oil Gengjia adequate food.
Wednesday EIA data showed U.S. commercial crude oil and oil stocks rose to 11.3 million barrels total, more than in September 1990 set the record of 11.27 million barrels.
Domestically, the recent fall in international oil prices, but lower oil prices yet, due to the lucrative, gas stations have started promotion, lack of signs that the downstream demand. The dollar index made another sharp rebound in crude oil have cracked an important support level. Friday at 16:00 GMT, NYMEX crude oil is still 75 dollars / barrel below the transaction.
Monday Baosteel, Wuhan Steel, Anshan Iron and Steel (000,898, stock it) have three steel price increases, price formation on the steel support. Weekly either on or of the Rebar Futures traders rebar Bo (West), opening the spot are away. With the overall weakness of commodity markets, prices finished lower on Friday rebar. Friday's closing Bo suppliers rebar (West) spot a continuous contract offer 4,301 yuan / ton, the main force of the rebar futures contract 1101 Price 4311 yuan / ton.
Non-ferrous metal spikes in the first half after a short week, Wednesday have come down substantially from the peak, which decreases among the top Shanghai aluminum, copper, zinc also fell slightly.
World Bureau of Metal Statistics (WBMS) newly released data show that the first half of 2010 remains the world's leading metal show excess supply state. Among them, the global excess supply of 314,000 tons of aluminum city; copper market supply surplus reached a record 80,000 tons.
Qinhuangdao Port thermal coal price this week, little changed, the port remains in the 7 million tons above the stock. With steel prices continued to rise, a slight rebound in the price of coke, usually 30 to 50 yuan / ton, the current focus of the mainstream of the factory in Shanxi Province two quotations from 1650 to 1700 yuan / ton, Tangshan two focal Price 1,700 yuan / ton ; associate a coke factory in Tianjin 1820 yuan / ton.
Agricultural products was mixed this week, wheat, maize remains relatively strong; beans, and oil varieties dropped sharply, Bo traders concerned that the early oil soared up mainly driven by the wheat, the current price of oil market fundamentals do not support substantially upward.
Specifically, the global soybean (information market), palm oil (information market) production continued to increase, ample global inventories. Natural disasters have some influence on the yield, but not as obvious as the wheat.
In addition, the U.S. biodiesel production has dropped significantly. The United States has been relying on soybean oil (information, quotes) to produce bio-diesel, high domestic subsidies make lucrative exports to the EU. However, since 2009, the EU anti-dumping U.S. biodiesel sanctions, a substantial increase in import tariffs, U.S. exports of basic bio-diesel fuel stop, which Shide soybean oil Gengjia adequate food.
Small loan companies to explore new ways for financial services
The birth of small loan companies to some extent, solve the financing problem of SMEs, but also solved the problem of insufficient operating funds in rural areas, existing financial institutions it is an effective supplement. In all aspects of promotion, small loan companies are springing up rapidly, within Zhejiang Province, has set up more than 100 small loan companies.
Small loan companies because the procedures simple, flexible operation, the amount is moderate, the advantage of risk diversification, the company can attract a certain amount of shareholder funds directly into the financial market and banking through its own credit Huode credit, through financing, bank loans large small loans for a number of document decomposition, play a role in platform conversion.
Meanwhile, small loan companies to some extent reduce the threshold for SME financing. SMEs in small scale, low mortgage assets, the security co-operation difficult, very difficult to obtain loans from banks. Small loan companies with a flexible mechanism for reducing the threshold of small business financing to help a number of difficult access to bank credit through traditional channels to solve the problem of financing SMEs.
As a small loan company, Zhejiang Province, the first pilot unit, Shaoxing County, Inc. Huijin small loans to increase their investment, the registered capital increased to 400 million yuan. The company "services for SMEs, the promotion of three rural development", around the "laying the foundation, creating features, take the forefront of the" work objectives, to open the market, expanding the impact created a character among the various indicators of the province the forefront, 2009 loan, "no late, no less interest, no bad," a small province in the benchmark lending company.
Small loan companies to do good "little article", adhere to differentiated services, the banks are reluctant to do, do not want to do, not credit loan customers as the basis for their own customers. Facing vulnerable groups, to take a strong service and establish the "inclusive" financial system. Huijin set up a small customer incubation room, full-service students entrepreneurs, Textile City Market business households, micro and small enterprises, low-end customers, as they go through the loan procedures, to provide financial advisory services. Since our company is located in the "China Textile City" the reputation of the Male and Female Textile City has a business account 13000, 100 000 people on traffic, business space is very wide. Textile City, our company and 15 major trade associations, chambers of commerce for the China Textile City, relying on market operators to provide users convenient and efficient microfinance services.
Small loan company to close "agricultural shop" and the promotion of "three rural" development is a major tenet our company, we are actively exploring service "three rural" new economic mechanism has also made positive efforts.
One organization "Agriculture" loans squad before the survey started loans. Visited one by one engaged in agricultural production, management and processing of agricultural products such as Farmer Cooperatives target customers, customer demand for loans-site consultation.
Second, the implementation of agricultural loans, "3 +1" (the company, leading agricultural, farmers + agricultural bureau) mode. Shaoxing County more agricultural leading enterprises, and better efficiency, but the agricultural leading enterprise-scale farmers scattered subordinate species, the lack of liquidity, has no effective collateral, financing is very difficult. To effectively address the problem of financing the part of farmers, through the County Bureau of Agriculture recommended by the agricultural leading enterprises of agricultural species of fish farmers focus on security, corporate loans in a timely manner, creating a new model of agricultural loans.
Third, try a new way of security. With the party contracting, the contractor signed a tripartite agreement to agricultural species of fish farmers of the land, water or ponds and other rental rights to pledge priority for processing the loan procedures, effective solution to the part no effective collateral and guarantor of the farmers of the financing problem.
Fourth, two villages located in the "Department of Agriculture" loans pilot, providing small farmers in mountainous areas, low-cost agricultural loans. We introduced "species of interest credit," "agricultural interest loans" series "Meeting farmers" lending products, simplicity, the interest rate concessions to meet the real needs of farmers.
Small loan companies because the procedures simple, flexible operation, the amount is moderate, the advantage of risk diversification, the company can attract a certain amount of shareholder funds directly into the financial market and banking through its own credit Huode credit, through financing, bank loans large small loans for a number of document decomposition, play a role in platform conversion.
Meanwhile, small loan companies to some extent reduce the threshold for SME financing. SMEs in small scale, low mortgage assets, the security co-operation difficult, very difficult to obtain loans from banks. Small loan companies with a flexible mechanism for reducing the threshold of small business financing to help a number of difficult access to bank credit through traditional channels to solve the problem of financing SMEs.
As a small loan company, Zhejiang Province, the first pilot unit, Shaoxing County, Inc. Huijin small loans to increase their investment, the registered capital increased to 400 million yuan. The company "services for SMEs, the promotion of three rural development", around the "laying the foundation, creating features, take the forefront of the" work objectives, to open the market, expanding the impact created a character among the various indicators of the province the forefront, 2009 loan, "no late, no less interest, no bad," a small province in the benchmark lending company.
Small loan companies to do good "little article", adhere to differentiated services, the banks are reluctant to do, do not want to do, not credit loan customers as the basis for their own customers. Facing vulnerable groups, to take a strong service and establish the "inclusive" financial system. Huijin set up a small customer incubation room, full-service students entrepreneurs, Textile City Market business households, micro and small enterprises, low-end customers, as they go through the loan procedures, to provide financial advisory services. Since our company is located in the "China Textile City" the reputation of the Male and Female Textile City has a business account 13000, 100 000 people on traffic, business space is very wide. Textile City, our company and 15 major trade associations, chambers of commerce for the China Textile City, relying on market operators to provide users convenient and efficient microfinance services.
Small loan company to close "agricultural shop" and the promotion of "three rural" development is a major tenet our company, we are actively exploring service "three rural" new economic mechanism has also made positive efforts.
One organization "Agriculture" loans squad before the survey started loans. Visited one by one engaged in agricultural production, management and processing of agricultural products such as Farmer Cooperatives target customers, customer demand for loans-site consultation.
Second, the implementation of agricultural loans, "3 +1" (the company, leading agricultural, farmers + agricultural bureau) mode. Shaoxing County more agricultural leading enterprises, and better efficiency, but the agricultural leading enterprise-scale farmers scattered subordinate species, the lack of liquidity, has no effective collateral, financing is very difficult. To effectively address the problem of financing the part of farmers, through the County Bureau of Agriculture recommended by the agricultural leading enterprises of agricultural species of fish farmers focus on security, corporate loans in a timely manner, creating a new model of agricultural loans.
Third, try a new way of security. With the party contracting, the contractor signed a tripartite agreement to agricultural species of fish farmers of the land, water or ponds and other rental rights to pledge priority for processing the loan procedures, effective solution to the part no effective collateral and guarantor of the farmers of the financing problem.
Fourth, two villages located in the "Department of Agriculture" loans pilot, providing small farmers in mountainous areas, low-cost agricultural loans. We introduced "species of interest credit," "agricultural interest loans" series "Meeting farmers" lending products, simplicity, the interest rate concessions to meet the real needs of farmers.
Oil prices slightly lower, intraday volatility in
Rebound in oil prices, settlement prices, API distillate stocksTip: Although better than expected inventory data to promote the rebound in oil prices, but the Energy Department's report still showed that U.S. crude oil inventories remain high. Front-month September RBOB gasoline futures settled up 0.0080 U.S. dollars to 1.9612 U.S. dollars per gallon; September heating oil futures settled down 0.0010 U.S. dollars to 2.0249 U.S. dollars per gallon.
Crude oil futures settled slightly lower price Wednesday. Intraday volatility in oil prices, oil inventories data due to conflicting, and the stock market reversed trend.
New York Mercantile Exchange, light sweet crude settled down Sep 35 cents to 75.42 U.S. dollars / barrel, down 0.5%. ICE Brent crude futures settled down 46 cents, to 76.47 U.S. dollars / barrel.
Morning sharply lower oil prices once, fell below 74 dollars, but then the U.S. Department of Energy (Energy Department) Energy Information Administration (Energy Information Administration, referred to as EIA) released the American Petroleum Institute and industry organizations (American Petroleum Institute, referred to as API) very different report. API report released earlier sharp rise in inventory levels. In addition, the U.S. stock market also contributed to higher oil prices recovered some lost ground. In recent weeks, the stock market as a barometer of future economic growth has been leading the crude oil price movements.
Tracking the oil industry, president of Ritterbusch and Associates, said Jim Ritterbusch, had no market value is too pessimistic API report yesterday, EIA released the report slightly positive market access to power.
EIA, as of August 13 when the weekly crude oil inventory fell 800,000 barrels; gasoline inventories were flat, including heating oil and diesel fuel inventories increased by 110 million barrels of distillate.
API data released Tuesday afternoon showed that crude oil inventories increased by 580 million barrels, causing crude oil futures prices.
Despite the better than expected inventory data to promote the rebound in oil prices, but the Energy Department's report still showed that U.S. crude oil inventories remain high.
Front-month September RBOB gasoline futures settled up 0.0080 U.S. dollars to 1.9612 U.S. dollars per gallon;
Crude oil futures settled slightly lower price Wednesday. Intraday volatility in oil prices, oil inventories data due to conflicting, and the stock market reversed trend.
New York Mercantile Exchange, light sweet crude settled down Sep 35 cents to 75.42 U.S. dollars / barrel, down 0.5%. ICE Brent crude futures settled down 46 cents, to 76.47 U.S. dollars / barrel.
Morning sharply lower oil prices once, fell below 74 dollars, but then the U.S. Department of Energy (Energy Department) Energy Information Administration (Energy Information Administration, referred to as EIA) released the American Petroleum Institute and industry organizations (American Petroleum Institute, referred to as API) very different report. API report released earlier sharp rise in inventory levels. In addition, the U.S. stock market also contributed to higher oil prices recovered some lost ground. In recent weeks, the stock market as a barometer of future economic growth has been leading the crude oil price movements.
Tracking the oil industry, president of Ritterbusch and Associates, said Jim Ritterbusch, had no market value is too pessimistic API report yesterday, EIA released the report slightly positive market access to power.
EIA, as of August 13 when the weekly crude oil inventory fell 800,000 barrels; gasoline inventories were flat, including heating oil and diesel fuel inventories increased by 110 million barrels of distillate.
API data released Tuesday afternoon showed that crude oil inventories increased by 580 million barrels, causing crude oil futures prices.
Despite the better than expected inventory data to promote the rebound in oil prices, but the Energy Department's report still showed that U.S. crude oil inventories remain high.
Front-month September RBOB gasoline futures settled up 0.0080 U.S. dollars to 1.9612 U.S. dollars per gallon;
Gold futures down, dollar strength
Hint: Gold futures fell slightly Friday, as stronger dollar; but the price of gold from the high point not far from seven-week, around the global economic recovery because of the uncertainty still haunt investors. New York Mercantile Exchange Comex most active December gold futures settled down 6.60 U.S. dollars, to 1,228.80 dollars an ounce, down 0.5%.
Gold futures fell slightly Friday, as stronger dollar; but the price of gold from not far from seven-week high, because focus on the uncertainty of global economic recovery still haunt investors.
New York Mercantile Exchange Comex most active December gold futures settled down 6.60 U.S. dollars, to 1,228.80 dollars an ounce, down 0.5%.
Barclays Capital analysts said the resurgence of macroeconomic uncertainty and economic recovery, the situation has once again aroused the attention of investors, so long-term demand for gold once again strengthened.
As economic uncertainty continues to exist, and next week the publication of a new round of economic data, market watchers believe that gold is expected in mid-June on the exploration of an ounce hit a record high 1,264.80 dollars. Important data, including next Tuesday's release of U.S. July existing home sales data as well as next Friday reported second-quarter U.S. gross domestic product (GDP) initial value.
Gold Friday a pressure from dollar strength. Dollar rose to a six-week high against the euro after European Central Bank (European Central Bank) officials said that loose monetary policy should be maintained into next year.
2:30 EDT, spot gold price of USD 1,227.20 an ounce, down 6.60 U.S. dollars.
December silver futures fell 34 cents, to 18.041 U.S. dollars an ounce.
October platinum futures fell 13.60 U.S. dollars, to 1513.90 U.S. dollars an ounce.
September palladium futures fell 9.45 U.S. dollars to 476.20 U.S. dollars an ounce.
Gold futures fell slightly Friday, as stronger dollar; but the price of gold from not far from seven-week high, because focus on the uncertainty of global economic recovery still haunt investors.
New York Mercantile Exchange Comex most active December gold futures settled down 6.60 U.S. dollars, to 1,228.80 dollars an ounce, down 0.5%.
Barclays Capital analysts said the resurgence of macroeconomic uncertainty and economic recovery, the situation has once again aroused the attention of investors, so long-term demand for gold once again strengthened.
As economic uncertainty continues to exist, and next week the publication of a new round of economic data, market watchers believe that gold is expected in mid-June on the exploration of an ounce hit a record high 1,264.80 dollars. Important data, including next Tuesday's release of U.S. July existing home sales data as well as next Friday reported second-quarter U.S. gross domestic product (GDP) initial value.
Gold Friday a pressure from dollar strength. Dollar rose to a six-week high against the euro after European Central Bank (European Central Bank) officials said that loose monetary policy should be maintained into next year.
2:30 EDT, spot gold price of USD 1,227.20 an ounce, down 6.60 U.S. dollars.
December silver futures fell 34 cents, to 18.041 U.S. dollars an ounce.
October platinum futures fell 13.60 U.S. dollars, to 1513.90 U.S. dollars an ounce.
September palladium futures fell 9.45 U.S. dollars to 476.20 U.S. dollars an ounce.
2010年8月14日星期六
490 million construction of AM-OLED pilot line (mid-A)
To enhance the capacity of sustainable development, mid-A (000050) (000050) Bulletin, owned subsidiary of Shanghai Tianma planed to build 4.5 on behalf of the AM-OLED pilot line, the total investment of 492 million yuan.
The project will be available in the 4.5 generation of Shanghai Tianma TFT-LCD production line of venue construction, which will be processed on glass substrate 1000. Sources of project financing for the Shanghai Tianma self and apply for government funding, which funds raised 210 million yuan, 282 million for government funding.
It is learned, AM-OLED (active organic light emitting diode) is a function of using organic semiconductor materials, electrical energy directly into light energy technology. Possess its own high-color, high contrast, wide viewing angle, high brightness and a series of outstanding advantages, is considered following the LCD, PDP after the greatest potential for development of new flat-panel display technology by the global attention, its technology and market scale has been some development. The future, as technology, materials technology breakthroughs, and significantly improve product yields, product prices continued to drop, AM-OLED will have more room for development, and most likely to form a TFT-LCD's great challenge.
, Mid-A semi-annual report also released today showed that the overall environment as the market better than the same period last year, along with a positive adjustment of product mix and customer mix, the first half, mid-A main business income of 1.413 billion yuan, an increase of 62.81%, 44.7698 million yuan net profit attributable to parent company, an increase of 143 million yuan. , Mid-expected return to profit in the first three quarters of this year, achieving net profit attributable to parent company about 65 million yuan.
In addition, the, mid-notice, the company shares with the Chinese subsidiary of Pegasus Aviation Technology, Wuhan, Xiamen Co., Ltd. entrusted import agency agreement signed, the company commissioned in the Air Xiamen agent imported equipment, raw materials and domestic trade operations, totaling about 800 million yuan, is expected to pay import agency fee of about 6.4 million yuan.
The project will be available in the 4.5 generation of Shanghai Tianma TFT-LCD production line of venue construction, which will be processed on glass substrate 1000. Sources of project financing for the Shanghai Tianma self and apply for government funding, which funds raised 210 million yuan, 282 million for government funding.
It is learned, AM-OLED (active organic light emitting diode) is a function of using organic semiconductor materials, electrical energy directly into light energy technology. Possess its own high-color, high contrast, wide viewing angle, high brightness and a series of outstanding advantages, is considered following the LCD, PDP after the greatest potential for development of new flat-panel display technology by the global attention, its technology and market scale has been some development. The future, as technology, materials technology breakthroughs, and significantly improve product yields, product prices continued to drop, AM-OLED will have more room for development, and most likely to form a TFT-LCD's great challenge.
, Mid-A semi-annual report also released today showed that the overall environment as the market better than the same period last year, along with a positive adjustment of product mix and customer mix, the first half, mid-A main business income of 1.413 billion yuan, an increase of 62.81%, 44.7698 million yuan net profit attributable to parent company, an increase of 143 million yuan. , Mid-expected return to profit in the first three quarters of this year, achieving net profit attributable to parent company about 65 million yuan.
In addition, the, mid-notice, the company shares with the Chinese subsidiary of Pegasus Aviation Technology, Wuhan, Xiamen Co., Ltd. entrusted import agency agreement signed, the company commissioned in the Air Xiamen agent imported equipment, raw materials and domestic trade operations, totaling about 800 million yuan, is expected to pay import agency fee of about 6.4 million yuan.
"Dr. Paul million payment" cash flow negative 39.4 billion yuan in the first half
Cash flow from operating activities developers have turned negative, of the continuing high level, like chess in that regulation to the credit bureau.
August 12 evening, the first open shares (600,376) (600,376) semi-annual report released shows that its net cash flow from operating activities -29.06 billion, become the real estate investment (000 024), Jia Kai City (000 918), the another emergency cash flow a property company.
Shares started the semi-annual report shows that its first half net profit was 8.76 billion yuan, up 173.57 percent over the previous year, but net cash flow -29.06 billion yuan, up 795.50 percent last year, down substantially.
Similarly, the Beijing Urban Construction released the same day (600 266) (600 266) semi-annual report also shows that the first half of Beijing Urban Construction to achieve 363 million yuan in net profit (up by 97.82%), while the same negative cash flow, net -7.49 100 000 000 element.
However, the first open shares, Beijing Urban Construction cash flow is negative, because in the first half crazy to take to the consequences. Among them, the first open shares added 2.133 million square meters of land reserves, Beijing Urban Construction land planning new construction area 735,000 square meters.
On the one hand because of crazy hold real estate to pay the increase, while sales of the full hold on the price plummeted.
Not only is the above real estate company, as on August 13, a total of 38 real estate companies released semi-annual report. Of these, 28 real estate companies operating activities Net cash flow was negative. Among them, Poly Real Estate (600,048) (600,048) to -233.48 million in cash flow top, Vanke -95.14 billion in cash flow, payments to the Group (600,383) Cash flow -45.36 billion real estate investment cash flow -19.99 billion. Four known real estate giant, "Dr. Paul Wan Kim," total cash flow from operating activities was negative 39.397 billion yuan.
Among them, the four giant cash flows are more strained, according to the first quarter. Poly, Wanke, gold, the investment in the first quarter cash flow was -150.16 billion -68 billion, -34.06 billion, -7.94 billion, for a total -260.16 billion.
The cash-flow positive in the 10 real estate companies, the maximum value is called the first real estate stocks, Zhejiang Guangyu Group (002 133), its cash flow is 4.43 million, one-quarter cash flow was 2.26 million, which Guangyu Group benefited from the reporting period no new land reserve.
However, very few such cases, the first half of sales revenue, but to take to become the most real estate companies in increasing the double-edged. Generally negative cash flow, increase volume, indicating real estate developers started to take, the greater the short term expenditure. Such as China Vanke, the sales amount in the first half as high as 36.77 billion yuan, while a great cash flow withdrawn from circulation more rapidly in the second and third tier cities in large holdings of land. Vanke semiannual reports showed the first half of new land 38 Vanke, the corresponding interest calculated in accordance with the planning of Vanke total 8.93 million square meters floor area.
You can see the new trend is the continued high level of negative cash flow gradually to take to discourage real estate developers. Recently, frequent Liupai land, a substantial decline in trading volume is indicative of the property market has been significantly effective regulation of real estate from the high degree of steering the economy boom of the long-term low. Can predict the next step will help to achieve competitive real estate expansion.
However, credit control, lack of market timing under the direct financing, developers must also showed the development of banks compete for loans. Central Bank statistics show that the second quarter, new development loans 121.6 billion yuan, 199.1 billion yuan less than a quarter. So, faced with shrinking piece of cake development loans, bank funds will choose to have the strength of the real estate business tilt. This large property developers, or dare to tight money in the first half to take the time to keep one of the reasons.
Subsequently, the same limited by tight cash flow, small developers, or again Baotuan heating alternative, have cut prices, and even land sales, real estate industry, the resulting pattern will be divided.
Thus, in 2010, continued to deepen the real estate under the New Deal will be regulating real estate since 2005, the best time effective. Developers under tight cash flow, in the second half might trigger a price war, if out of the housing bubble can and will take to expand senses, is market fortune. So since the banks worry about credit risk on the property can also be phased ending.
August 12 evening, the first open shares (600,376) (600,376) semi-annual report released shows that its net cash flow from operating activities -29.06 billion, become the real estate investment (000 024), Jia Kai City (000 918), the another emergency cash flow a property company.
Shares started the semi-annual report shows that its first half net profit was 8.76 billion yuan, up 173.57 percent over the previous year, but net cash flow -29.06 billion yuan, up 795.50 percent last year, down substantially.
Similarly, the Beijing Urban Construction released the same day (600 266) (600 266) semi-annual report also shows that the first half of Beijing Urban Construction to achieve 363 million yuan in net profit (up by 97.82%), while the same negative cash flow, net -7.49 100 000 000 element.
However, the first open shares, Beijing Urban Construction cash flow is negative, because in the first half crazy to take to the consequences. Among them, the first open shares added 2.133 million square meters of land reserves, Beijing Urban Construction land planning new construction area 735,000 square meters.
On the one hand because of crazy hold real estate to pay the increase, while sales of the full hold on the price plummeted.
Not only is the above real estate company, as on August 13, a total of 38 real estate companies released semi-annual report. Of these, 28 real estate companies operating activities Net cash flow was negative. Among them, Poly Real Estate (600,048) (600,048) to -233.48 million in cash flow top, Vanke -95.14 billion in cash flow, payments to the Group (600,383) Cash flow -45.36 billion real estate investment cash flow -19.99 billion. Four known real estate giant, "Dr. Paul Wan Kim," total cash flow from operating activities was negative 39.397 billion yuan.
Among them, the four giant cash flows are more strained, according to the first quarter. Poly, Wanke, gold, the investment in the first quarter cash flow was -150.16 billion -68 billion, -34.06 billion, -7.94 billion, for a total -260.16 billion.
The cash-flow positive in the 10 real estate companies, the maximum value is called the first real estate stocks, Zhejiang Guangyu Group (002 133), its cash flow is 4.43 million, one-quarter cash flow was 2.26 million, which Guangyu Group benefited from the reporting period no new land reserve.
However, very few such cases, the first half of sales revenue, but to take to become the most real estate companies in increasing the double-edged. Generally negative cash flow, increase volume, indicating real estate developers started to take, the greater the short term expenditure. Such as China Vanke, the sales amount in the first half as high as 36.77 billion yuan, while a great cash flow withdrawn from circulation more rapidly in the second and third tier cities in large holdings of land. Vanke semiannual reports showed the first half of new land 38 Vanke, the corresponding interest calculated in accordance with the planning of Vanke total 8.93 million square meters floor area.
You can see the new trend is the continued high level of negative cash flow gradually to take to discourage real estate developers. Recently, frequent Liupai land, a substantial decline in trading volume is indicative of the property market has been significantly effective regulation of real estate from the high degree of steering the economy boom of the long-term low. Can predict the next step will help to achieve competitive real estate expansion.
However, credit control, lack of market timing under the direct financing, developers must also showed the development of banks compete for loans. Central Bank statistics show that the second quarter, new development loans 121.6 billion yuan, 199.1 billion yuan less than a quarter. So, faced with shrinking piece of cake development loans, bank funds will choose to have the strength of the real estate business tilt. This large property developers, or dare to tight money in the first half to take the time to keep one of the reasons.
Subsequently, the same limited by tight cash flow, small developers, or again Baotuan heating alternative, have cut prices, and even land sales, real estate industry, the resulting pattern will be divided.
Thus, in 2010, continued to deepen the real estate under the New Deal will be regulating real estate since 2005, the best time effective. Developers under tight cash flow, in the second half might trigger a price war, if out of the housing bubble can and will take to expand senses, is market fortune. So since the banks worry about credit risk on the property can also be phased ending.
Meili Paper Industry: Pre-losing 77 million in the first half
Involvement on behalf of ST Dongsheng (600 771) in overdue security, Meili Paper Industry (000815) today amended in the first half performance, the original loss of 11 million yuan for the loss of 77 million yuan to amend, down 2400%, basic earnings per share is negative 0.24 yuan.
Mainly due to its subsidiaries for the ST Tung Shing Tung Shing Chinese banks can not repay the debt due, the company providing its guarantee to 66 million yuan provision for estimated liabilities. The company is expected to guarantee 234.6 million yuan, of which ST Dongsheng and its subsidiaries involving 133.15 million yuan, Northwest bearing (000 595) was 101.45 million yuan. However, the company said prior year judgments based on information available at that time, the company did not expect the provision for overdue debt security issues, this year's interim financial report, based on the company to be on currently available information and its subsidiary, ST Tung Shing Tung Shing Chinese overdue The actual amount of provision for security is expected to bear the liabilities of 66.03 million yuan, the Northwest secured overdue items bearing the company's production operations due to normal without provision for estimated liabilities.
Mainly due to its subsidiaries for the ST Tung Shing Tung Shing Chinese banks can not repay the debt due, the company providing its guarantee to 66 million yuan provision for estimated liabilities. The company is expected to guarantee 234.6 million yuan, of which ST Dongsheng and its subsidiaries involving 133.15 million yuan, Northwest bearing (000 595) was 101.45 million yuan. However, the company said prior year judgments based on information available at that time, the company did not expect the provision for overdue debt security issues, this year's interim financial report, based on the company to be on currently available information and its subsidiary, ST Tung Shing Tung Shing Chinese overdue The actual amount of provision for security is expected to bear the liabilities of 66.03 million yuan, the Northwest secured overdue items bearing the company's production operations due to normal without provision for estimated liabilities.
Reduction by the shareholders of the companies
Gujing Distillery (000 596 200 596), said shareholders of Anhui Gujing Gujing Distillery Group Co., Ltd. on August 10 to August 12 to large holdings of company shares trading 440 million shares, representing the company's total capital ratio of 1.8723 %. After this reduction, Anhui Gujing Group Co., Ltd. still holds shares 13930.20 million, representing the company's total capital ratio of 59.277%.
Tibet's development (000,752) (000,752), said shareholders of the Tibet Autonomous Region of Tibet's development of state-owned asset management companies on November 11, 2009 ~ August 12, 2010 auction by way of reduction of concentration of 270.1916 million shares, accounting The total capital ratio was 1.02%. The reduction of state-owned asset management companies after the Tibet Autonomous Region, still hold shares of the Company 4,624.3684 million shares, representing the company's total capital ratio of 17.54%.
Through the Portuguese stock (600,365) (600,365), said, Tonghua Wine Co. on August 13, 2010 received the second largest shareholder of Tonghua Dongbao (600 867) Pharmaceutical Co., Ltd. informed its August 10, 2010 Shanghai Stock Exchange trading system through the reduction of the company selling unrestricted shares outstanding 1,305,926 shares, representing 0.93% of total shares; still holds 6,199,074 shares of company shares, representing 4.43% of total shares.
Tibet's development (000,752) (000,752), said shareholders of the Tibet Autonomous Region of Tibet's development of state-owned asset management companies on November 11, 2009 ~ August 12, 2010 auction by way of reduction of concentration of 270.1916 million shares, accounting The total capital ratio was 1.02%. The reduction of state-owned asset management companies after the Tibet Autonomous Region, still hold shares of the Company 4,624.3684 million shares, representing the company's total capital ratio of 17.54%.
Through the Portuguese stock (600,365) (600,365), said, Tonghua Wine Co. on August 13, 2010 received the second largest shareholder of Tonghua Dongbao (600 867) Pharmaceutical Co., Ltd. informed its August 10, 2010 Shanghai Stock Exchange trading system through the reduction of the company selling unrestricted shares outstanding 1,305,926 shares, representing 0.93% of total shares; still holds 6,199,074 shares of company shares, representing 4.43% of total shares.
2010年8月11日星期三
Future development is inseparable from the financial services
Prior to that, there is no product supply orders, has been plagued Yunnan Juli Group. But as the group production lines 35KV cross-linking the work of reconstruction and extension project started, this was expected to ease the problem.
"Now, I am worried about the future of corporate financial support to go out." Yunnan Juli new chairman of the Kingdom, said recent interview.
Juli Group by the development plan, Southeast Asia, South Asia and other markets, will be the focus of the group one of the objects. It is reported that since 1998, after successfully exported to Southeast Asian countries, the Group has undertaken the enormous power that Myanmar pyinmadaw electrical construction projects, and 90% of Myanmar cable provided by the group. Laos has more than four million dollars per year cable orders, while in Vietnam, Cambodia, Thailand and other Southeast Asian countries are rapidly expanding the business open to, and established a good reputation and word of mouth, increased momentum in sales order soon.
Therefore, the new Kingdom of the worry is not unreasonable.
"Now our foreign trade, mostly in dollars for the settlement, there is a big exchange rate risks. Particularly between 2004-2006, in order to avoid risks, Juli almost stopped outside the Group's sales."
Kingdom noted that the new cross-border settlement of the yuan in Yunnan, is a good thing. For now, what kind of enterprises will bring the impact of poor forecasting. His analysis, we Burma, Laos and other Southeast Asian trade, are performing in accordance with international trade rules, the U.S. dollar clearing. If the current use of renminbi in foreign transactions, you can guess mostly, and some small businesses do business, because they believe the RMB.
Interview, many companies are in favor of this view. They believe that the RMB to open a red cross-border settlement of the situation, the first Chinese-funded banks to large-scale, multi-distribution outlets overseas; Second, we must provide more suitable and cross-border trade in financial services companies, and even "tailor- made to order. "
New Kingdom that the company can not develop without the support of financial institutions, particularly those to be ready to go, "Chuang world" business, it is necessary as the strong backing of financial institutions.
Is noteworthy that, at present, the RMB settlement of the related cross-border system is gradually improving and supporting the financial business innovation have gradually developed. In this regard, the new kingdom that, no matter at what stage of cross-border renminbi settlement, business will have a lot of demand for financial services, all categories of financial institutions services, service quality and service in the international market made a high demand. Because this is the strong point of the future development of enterprises.
"Now, I am worried about the future of corporate financial support to go out." Yunnan Juli new chairman of the Kingdom, said recent interview.
Juli Group by the development plan, Southeast Asia, South Asia and other markets, will be the focus of the group one of the objects. It is reported that since 1998, after successfully exported to Southeast Asian countries, the Group has undertaken the enormous power that Myanmar pyinmadaw electrical construction projects, and 90% of Myanmar cable provided by the group. Laos has more than four million dollars per year cable orders, while in Vietnam, Cambodia, Thailand and other Southeast Asian countries are rapidly expanding the business open to, and established a good reputation and word of mouth, increased momentum in sales order soon.
Therefore, the new Kingdom of the worry is not unreasonable.
"Now our foreign trade, mostly in dollars for the settlement, there is a big exchange rate risks. Particularly between 2004-2006, in order to avoid risks, Juli almost stopped outside the Group's sales."
Kingdom noted that the new cross-border settlement of the yuan in Yunnan, is a good thing. For now, what kind of enterprises will bring the impact of poor forecasting. His analysis, we Burma, Laos and other Southeast Asian trade, are performing in accordance with international trade rules, the U.S. dollar clearing. If the current use of renminbi in foreign transactions, you can guess mostly, and some small businesses do business, because they believe the RMB.
Interview, many companies are in favor of this view. They believe that the RMB to open a red cross-border settlement of the situation, the first Chinese-funded banks to large-scale, multi-distribution outlets overseas; Second, we must provide more suitable and cross-border trade in financial services companies, and even "tailor- made to order. "
New Kingdom that the company can not develop without the support of financial institutions, particularly those to be ready to go, "Chuang world" business, it is necessary as the strong backing of financial institutions.
Is noteworthy that, at present, the RMB settlement of the related cross-border system is gradually improving and supporting the financial business innovation have gradually developed. In this regard, the new kingdom that, no matter at what stage of cross-border renminbi settlement, business will have a lot of demand for financial services, all categories of financial institutions services, service quality and service in the international market made a high demand. Because this is the strong point of the future development of enterprises.
China's "overtly" yen? (Country Gold Commentary)
Japanese government bonds while ago has been sold poorly, so I thought in the promotional ads on the move, saying "investment bonds men is reliable." But now, Japan's views on the sentence ad more complex, because they suddenly realized that sometimes investment bonds "men" are not reliable.
Japan's Finance Ministry recently released figures show China in June this year, holdings of Japanese government bonds continued, and in size over 1-4 months of this year and, after the previous May. At the same time, the first half of the total holdings of Japanese government bonds break 1.7 trillion yen, a record.
Holdings of such a large scale and sustained yen, observers habitually attributed the diversification of China's foreign exchange investment strategies. But the dollar unsafe, the Japanese yen 2.45 trillion U.S. dollars foreign exchange reserves of China's new direction?
Clearly not. First of all, Japan is actually the number of the sense of "national bankruptcy." According to the International Monetary Fund (IMF), the latest data showed Japan's gross public debt accounts for 229% of its GDP, ranked first in the developed countries. In contrast, some time ago the outbreak of the Greek sovereign debt crisis, its public debt-GDP ratio of only 113%. The reason why the international rating agencies often "let off" the yen because the Japanese Jiu Cheng Yen bonds held by domestic private sector, foreign capital holdings do not exceed 4.6%.
Second, government bonds, compared with the United States, Japan, the lowest yield on government bonds. For example, the U.S. 10-year bond yields over 3% now, while the 10-year Japanese government bonds yield only about 1.1%, while the Japanese bond market, the liquidity of the secondary to be much less.
Therefore, risk considerations, whether or preservation needs, the yen is not a strategic transformation of China's foreign exchange direction. Total 1.7 trillion yen of government bonds, according to current exchange rate calculation less than 200 billion dollars, compared to 800 billion U.S. dollars of U.S. treasury bond investment, can not compare, at most only a symbol.
But such high-profile intervention yen, the plan for that? The recent sharp appreciation of the yen may disclose certain information. Data show that the yen this year in May embarked on a continuous appreciation of the way, two months against the U.S. dollar from 95 points down to recent lows near 85, advancing to the highest point in 15 years, has appreciated more than 10% of the total significantly more than the euro, sterling and other major non-US currencies, which indicates that the last two months from the large Chinese holdings of yen bonds gained a lot of money the action proceeds.
But only for revenue purposes? In fact, a lot of buying in Japan on the Chinese mentality of debt is also very subtle. On the one hand there is the Japanese bond stress, the economic downturn, the problem of population aging, Japan's national debt to absorb the space is limited, so buy the Chinese this time to ease pressure on the Japanese capital. On the other hand, Japan also remain vigilant. The voice of the mainstream in Japan that the Government should not over-encourage overseas investors to buy Japanese government bonds, because once a large number of Japanese government bonds held by foreign investors suddenly selling Japanese government bonds, will affect the stability of the Japanese economy.
In addition to financial security concerns, there are trade costs on the "fuss." China and Japan are typical export-oriented economy, as foreign exchange reserves, a large number of configuration yen assets, will boost the yen strengthened to some extent undermine the competitiveness of Japanese goods. More subtly, taking into account Japan's trade surplus in China's power status, and China's traditional export strengths in Japan - mechanical and electrical products, strong growth, not difficult to understand Japan's concerns.
Japan's Finance Ministry recently released figures show China in June this year, holdings of Japanese government bonds continued, and in size over 1-4 months of this year and, after the previous May. At the same time, the first half of the total holdings of Japanese government bonds break 1.7 trillion yen, a record.
Holdings of such a large scale and sustained yen, observers habitually attributed the diversification of China's foreign exchange investment strategies. But the dollar unsafe, the Japanese yen 2.45 trillion U.S. dollars foreign exchange reserves of China's new direction?
Clearly not. First of all, Japan is actually the number of the sense of "national bankruptcy." According to the International Monetary Fund (IMF), the latest data showed Japan's gross public debt accounts for 229% of its GDP, ranked first in the developed countries. In contrast, some time ago the outbreak of the Greek sovereign debt crisis, its public debt-GDP ratio of only 113%. The reason why the international rating agencies often "let off" the yen because the Japanese Jiu Cheng Yen bonds held by domestic private sector, foreign capital holdings do not exceed 4.6%.
Second, government bonds, compared with the United States, Japan, the lowest yield on government bonds. For example, the U.S. 10-year bond yields over 3% now, while the 10-year Japanese government bonds yield only about 1.1%, while the Japanese bond market, the liquidity of the secondary to be much less.
Therefore, risk considerations, whether or preservation needs, the yen is not a strategic transformation of China's foreign exchange direction. Total 1.7 trillion yen of government bonds, according to current exchange rate calculation less than 200 billion dollars, compared to 800 billion U.S. dollars of U.S. treasury bond investment, can not compare, at most only a symbol.
But such high-profile intervention yen, the plan for that? The recent sharp appreciation of the yen may disclose certain information. Data show that the yen this year in May embarked on a continuous appreciation of the way, two months against the U.S. dollar from 95 points down to recent lows near 85, advancing to the highest point in 15 years, has appreciated more than 10% of the total significantly more than the euro, sterling and other major non-US currencies, which indicates that the last two months from the large Chinese holdings of yen bonds gained a lot of money the action proceeds.
But only for revenue purposes? In fact, a lot of buying in Japan on the Chinese mentality of debt is also very subtle. On the one hand there is the Japanese bond stress, the economic downturn, the problem of population aging, Japan's national debt to absorb the space is limited, so buy the Chinese this time to ease pressure on the Japanese capital. On the other hand, Japan also remain vigilant. The voice of the mainstream in Japan that the Government should not over-encourage overseas investors to buy Japanese government bonds, because once a large number of Japanese government bonds held by foreign investors suddenly selling Japanese government bonds, will affect the stability of the Japanese economy.
In addition to financial security concerns, there are trade costs on the "fuss." China and Japan are typical export-oriented economy, as foreign exchange reserves, a large number of configuration yen assets, will boost the yen strengthened to some extent undermine the competitiveness of Japanese goods. More subtly, taking into account Japan's trade surplus in China's power status, and China's traditional export strengths in Japan - mechanical and electrical products, strong growth, not difficult to understand Japan's concerns.
ABC resort to "trench warfare"
Yesterday, the ABC share price has been around the previous day's closing price of 2.69 yuan to fluctuate, and the fluctuation range of only between 2.70 to 2.68 yuan. Day trading volume 4,681,200 ABC hand, turnover was 1.259 billion yuan.
View from the disk, the Agricultural Bank in the accumulation of a large number of pay 2.6 yuan. Analysts said that with the broader market turmoil intensified, the Agricultural Bank of the selling pressure is also growing, but the selling pressure is relatively speaking, a strong "green shoe" under the protection of the Agricultural Bank of A share issue price below the short term may is small, range-bound around the issue price will increase. But from August 16 "Green Shoe" to protect the end, only 3 days, although the research on the trend of the second half of the banks are more optimistic, but in the "green shoe" invalid, the trend of the market very carefully ABC .
In fact, ABC's "trench warfare" has been going on for some time, on August 9, Agricultural Bank of China A share in the block trading platform, and the day's closing price of 2.69 yuan to the price of the 51.35 million shares traded. Exchange of information display, buy side is the North Third Ring Road, Beijing CITIC Securities sales department, selling side is the National League East before the securities business department of Wuxi. It is understood that the two sales department are more active in hot money seats.
Although the Agricultural Bank of China A share block trades appeared the first time, but H shares has suffered several strategic investors to sell. The information from the Hong Kong Stock Exchange, including the Agricultural Bank of underwriters, including Morgan Stanley and Goldman Sachs and other investment banks, one after another over the recent reduction of 3.4 Hong Kong dollars, but still maintain control of a large number of institutional investors chips situation. According to WIND IT show, as of August 10 to 5 trading days, the ABC flows Liang Jun was negative.
Zhu Yan, CITIC Securities Banking researcher believes that the banking sector pessimism has gradually eased, the central valuation is also expected to rise 20%. At the same time, the banking industry annual profits may rise 8% -15% of space is expected to usher in the banking sector rebounded from the valuation of the performance up to "double up" market.
Therefore, the focus of the 13 banks, mostly to overweight rating on CITIC Securities, a small part of the rating given to a buy, but in ABC's ratings bar, CITIC Securities is marked "no."
View from the disk, the Agricultural Bank in the accumulation of a large number of pay 2.6 yuan. Analysts said that with the broader market turmoil intensified, the Agricultural Bank of the selling pressure is also growing, but the selling pressure is relatively speaking, a strong "green shoe" under the protection of the Agricultural Bank of A share issue price below the short term may is small, range-bound around the issue price will increase. But from August 16 "Green Shoe" to protect the end, only 3 days, although the research on the trend of the second half of the banks are more optimistic, but in the "green shoe" invalid, the trend of the market very carefully ABC .
In fact, ABC's "trench warfare" has been going on for some time, on August 9, Agricultural Bank of China A share in the block trading platform, and the day's closing price of 2.69 yuan to the price of the 51.35 million shares traded. Exchange of information display, buy side is the North Third Ring Road, Beijing CITIC Securities sales department, selling side is the National League East before the securities business department of Wuxi. It is understood that the two sales department are more active in hot money seats.
Although the Agricultural Bank of China A share block trades appeared the first time, but H shares has suffered several strategic investors to sell. The information from the Hong Kong Stock Exchange, including the Agricultural Bank of underwriters, including Morgan Stanley and Goldman Sachs and other investment banks, one after another over the recent reduction of 3.4 Hong Kong dollars, but still maintain control of a large number of institutional investors chips situation. According to WIND IT show, as of August 10 to 5 trading days, the ABC flows Liang Jun was negative.
Zhu Yan, CITIC Securities Banking researcher believes that the banking sector pessimism has gradually eased, the central valuation is also expected to rise 20%. At the same time, the banking industry annual profits may rise 8% -15% of space is expected to usher in the banking sector rebounded from the valuation of the performance up to "double up" market.
Therefore, the focus of the 13 banks, mostly to overweight rating on CITIC Securities, a small part of the rating given to a buy, but in ABC's ratings bar, CITIC Securities is marked "no."
Monthly credit "soft landing"
August 11, the PBC released "in July financial statistics report" shows that in July new loans to 532.8 billion yuan RMB, an increase of 163.7 billion yuan, from the previous month (in June reached 603 billion yuan of new loans) decreased by 12%. The amount was slightly lower than market expectations.
Market forecast in July after new loans ranges from 500 to 700 billion yuan, the general predictive value of 600 billion yuan or so, basically the same in June of 603.4 billion yuan. M2 of the prediction interval in the 17.9 to 19.2%, 18.5% median forecast. A bank industry to "International Finance News" reporter laments: "I never thought in July forecast of new loans will be hanging in the next interval along, we believe that in July the original credit would be more relaxed."
Political commissar of the Industrial Bank senior economist Lu told, "International Finance News" interview, said: "The current supply of credit relative to economic demand, seemed tight, some businesses this may cause future problems in the financial chain. "He said new loans in July is not over, and the M2 and M1 growth over the previous year also, a very significant decrease in the micro-economy cooling of demand for capital, which on the other hand there is obvious evidence of an economic slowdown trend.
Bank of Communications, Center for Financial Research, Dr E Yongjian analysis, steady decline in July new loans and window guidance to regulators, government financing platform and real estate loan demand related to the decrease of class. New month loans fell from more substantive point of view, the real economy down the overall credit demand.
Some analysts believe that in order to launch pre-intensive situation judged, 8-9 The credit limit or fell below the level of 500 billion yuan. Thus the second half of 3 trillion yuan, 7.5 trillion yuan to complete the year the credit is not difficult to achieve goals. "Stable amount of credit to ease inflationary pressures, but also ensure that the regional economy, emerging industries, and other economic incentives point the funds required. Of course, M1, M2 money supply growth will continue down the chain."
However, Zuo Xiaolei, chief economist at Galaxy Securities are reminded that in many banks and businesses do not last very much from the state of monetary policy in the feet and, in fact, the theme of this year's monetary policy is to return to normal, moderate liberal, is different from Last year, it should not be alarmist claims that the current credit tightening.
Lu political commissar also forecast that the credit volume and tempo will not change. Although the CPI is likely to continue to new highs, but the years may no longer raise interest rates; statutory deposit reserve ratio adjustments in the direction of uncertainty, if the strength of international capital flows have not changed, turn of the year does not rule out the possibility of lower reserve ratio ; in high surplus, the exchange rate had continued to appreciate, but is expected to an annualized rate of less than 1.% to 1.5%.
Market forecast in July after new loans ranges from 500 to 700 billion yuan, the general predictive value of 600 billion yuan or so, basically the same in June of 603.4 billion yuan. M2 of the prediction interval in the 17.9 to 19.2%, 18.5% median forecast. A bank industry to "International Finance News" reporter laments: "I never thought in July forecast of new loans will be hanging in the next interval along, we believe that in July the original credit would be more relaxed."
Political commissar of the Industrial Bank senior economist Lu told, "International Finance News" interview, said: "The current supply of credit relative to economic demand, seemed tight, some businesses this may cause future problems in the financial chain. "He said new loans in July is not over, and the M2 and M1 growth over the previous year also, a very significant decrease in the micro-economy cooling of demand for capital, which on the other hand there is obvious evidence of an economic slowdown trend.
Bank of Communications, Center for Financial Research, Dr E Yongjian analysis, steady decline in July new loans and window guidance to regulators, government financing platform and real estate loan demand related to the decrease of class. New month loans fell from more substantive point of view, the real economy down the overall credit demand.
Some analysts believe that in order to launch pre-intensive situation judged, 8-9 The credit limit or fell below the level of 500 billion yuan. Thus the second half of 3 trillion yuan, 7.5 trillion yuan to complete the year the credit is not difficult to achieve goals. "Stable amount of credit to ease inflationary pressures, but also ensure that the regional economy, emerging industries, and other economic incentives point the funds required. Of course, M1, M2 money supply growth will continue down the chain."
However, Zuo Xiaolei, chief economist at Galaxy Securities are reminded that in many banks and businesses do not last very much from the state of monetary policy in the feet and, in fact, the theme of this year's monetary policy is to return to normal, moderate liberal, is different from Last year, it should not be alarmist claims that the current credit tightening.
Lu political commissar also forecast that the credit volume and tempo will not change. Although the CPI is likely to continue to new highs, but the years may no longer raise interest rates; statutory deposit reserve ratio adjustments in the direction of uncertainty, if the strength of international capital flows have not changed, turn of the year does not rule out the possibility of lower reserve ratio ; in high surplus, the exchange rate had continued to appreciate, but is expected to an annualized rate of less than 1.% to 1.5%.
2010年8月10日星期二
To create a financial center of East China
Although the stock market volatile, but this did not hamper the enthusiasm of the financial focus on the development of Nanjing. Nanjing Municipal Government held a press conference yesterday, officially released the "financial sector development on Accelerating the views of Nanjing", the city Development and Reform Commission deputy director Yang Zhongnan at the meeting that this is the first time formally issued a document in Nanjing that "financial Jiang city "strategy, is the first official announcement will result in Nanjing in east China to play an important financial center of the city.
Paid talent is recruited to go to Wall Street
Nanjing Municipal Government, held in the 5th meeting of the city's financial work for the first time to determine the city's "Strong Financial City" development strategy, that the financial industry to become the city's economic development strategic readjustment of the most basic, the most promising direction of development. Recognizing and Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and other cities, the city's financial sector growth is not fast enough, urgent need to increase the pace of capital markets, the municipal government issued a four supporting the implementation of measures, from the finance, policy aspects of the financial industry to promote their development.
Juyangzhongnan introduced, the municipal government will invest 20 million yuan every year to encourage enterprises to enter the capital market financing, reduce the financing costs of SMEs; to 2010, the municipal government 30 million yuan each year the financial arrangements for special funds to support them credit guarantee institutions , and the establishment of compensation mechanisms can eventually make more credit guarantee for SMEs to obtain loans from banks; the same time, the city will invest 200 million yuan, by way of equity participation and financing guarantees and other venture capital firms to support the establishment and development, decentralization of its investment risk, or even directly through equity participation targets directly to their venture to invest 1 billion yuan plan Zhengqu guide the flow of Chuang Ye Yi Shang's social capital investment in the field.
To create a financial center, support is also an important part. Yang Zhongnan said the city will strive to play in Hexi CBD caused significant financial agglomeration, the city will invest for 6 years, 50 million yuan each year to assist their development, through financial institutions, business executives and other incentives to attract banks , securities, insurance and other institutions stationed in Hexi.
Yang Zhongnan also revealed that the city plans to Wall Street and other places recruiting financial professionals, especially Chinese, to its treatment of not less than abroad.
Should be defined as "Regional Science and Education Center"
Jiangsu Province, last year proposed the "financial province" strategy has always been to become a regional financial center for the city of Nanjing on the advantage of the opportunity presented within the city should become the region's "strong financial market."
But Yang Zhongnan also admitted that the face of an important regional financial center in East China's development positioning, Nanjing also suffering from doubt, the biggest reason is 300 km from Shanghai, has been basically established domestic financial center, is the direction to the international financial center , while the Yangtze River Delta, Hangzhou is also actively building the south wing of the regional financial center.
"Exclusive financial center building does not exist." Yang Zhongnan said that from the economic development of countries in the world financial center and the formation of general laws, economic powerful country has several different levels of economic centers, such as the United States have an international financial center, New York , there are regional financial center in Chicago, Los Angeles. "Shanghai is the face of Tokyo, Seoul, Singapore, Hong Kong's competitive international financial center, and Nanjing's position is regional, can Cheng Shi for the peripheral to provide effective financial support, in a regional context and Shanghai in the complementary win-win situation. "Yang Zhongnan think.
Currently the existing 28 banks in Nanjing in five foreign banks, as well as five foreign banks are seeking to settle rather, of which the Philippine capital of banks is to adjust its headquarters from Shanghai to set up in Nanjing, Nanjing, this gives a great confidence.
However, urban construction and development of Nanjing Construction Committee of Senior Economist Lu Yulong is that cities are Nanjing-Hangzhou into a financial center is not necessary idea. "Since it is a center, at least you are in the region in first place, Nanjing-Hangzhou and Shanghai cities can not compete." Luyu Long said that this does not mean that cities do not have the financial capabilities of Nanjing-Hangzhou, it should be properly aware of their position to undermine the original advantage of the "Nanjing can use its scientific and educational advantages, will create a regional science center."
Paid talent is recruited to go to Wall Street
Nanjing Municipal Government, held in the 5th meeting of the city's financial work for the first time to determine the city's "Strong Financial City" development strategy, that the financial industry to become the city's economic development strategic readjustment of the most basic, the most promising direction of development. Recognizing and Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and other cities, the city's financial sector growth is not fast enough, urgent need to increase the pace of capital markets, the municipal government issued a four supporting the implementation of measures, from the finance, policy aspects of the financial industry to promote their development.
Juyangzhongnan introduced, the municipal government will invest 20 million yuan every year to encourage enterprises to enter the capital market financing, reduce the financing costs of SMEs; to 2010, the municipal government 30 million yuan each year the financial arrangements for special funds to support them credit guarantee institutions , and the establishment of compensation mechanisms can eventually make more credit guarantee for SMEs to obtain loans from banks; the same time, the city will invest 200 million yuan, by way of equity participation and financing guarantees and other venture capital firms to support the establishment and development, decentralization of its investment risk, or even directly through equity participation targets directly to their venture to invest 1 billion yuan plan Zhengqu guide the flow of Chuang Ye Yi Shang's social capital investment in the field.
To create a financial center, support is also an important part. Yang Zhongnan said the city will strive to play in Hexi CBD caused significant financial agglomeration, the city will invest for 6 years, 50 million yuan each year to assist their development, through financial institutions, business executives and other incentives to attract banks , securities, insurance and other institutions stationed in Hexi.
Yang Zhongnan also revealed that the city plans to Wall Street and other places recruiting financial professionals, especially Chinese, to its treatment of not less than abroad.
Should be defined as "Regional Science and Education Center"
Jiangsu Province, last year proposed the "financial province" strategy has always been to become a regional financial center for the city of Nanjing on the advantage of the opportunity presented within the city should become the region's "strong financial market."
But Yang Zhongnan also admitted that the face of an important regional financial center in East China's development positioning, Nanjing also suffering from doubt, the biggest reason is 300 km from Shanghai, has been basically established domestic financial center, is the direction to the international financial center , while the Yangtze River Delta, Hangzhou is also actively building the south wing of the regional financial center.
"Exclusive financial center building does not exist." Yang Zhongnan said that from the economic development of countries in the world financial center and the formation of general laws, economic powerful country has several different levels of economic centers, such as the United States have an international financial center, New York , there are regional financial center in Chicago, Los Angeles. "Shanghai is the face of Tokyo, Seoul, Singapore, Hong Kong's competitive international financial center, and Nanjing's position is regional, can Cheng Shi for the peripheral to provide effective financial support, in a regional context and Shanghai in the complementary win-win situation. "Yang Zhongnan think.
Currently the existing 28 banks in Nanjing in five foreign banks, as well as five foreign banks are seeking to settle rather, of which the Philippine capital of banks is to adjust its headquarters from Shanghai to set up in Nanjing, Nanjing, this gives a great confidence.
However, urban construction and development of Nanjing Construction Committee of Senior Economist Lu Yulong is that cities are Nanjing-Hangzhou into a financial center is not necessary idea. "Since it is a center, at least you are in the region in first place, Nanjing-Hangzhou and Shanghai cities can not compete." Luyu Long said that this does not mean that cities do not have the financial capabilities of Nanjing-Hangzhou, it should be properly aware of their position to undermine the original advantage of the "Nanjing can use its scientific and educational advantages, will create a regional science center."
Towards regional financial center
Well-known financial institution set up stalls, hundreds of financial products can be read, the number of field professional financial management seminars to listen to ... ... the second three-day Money Expo in Hangzhou in Zhejiang World Trade Center. In addition to a financial feast is served, the Chinese Academy of Social Sciences Finance and Trade Economics, Central University of Finance and Financial Leading Group Office in Hangzhou has also launched a "financial services sub-provincial city development evaluation system", by the order that the results, Hangzhou ranked sub-provincial cities in the country overall level of development of financial services third.
Three steps toward regional financial center in Hangzhou
Assessment by the Chinese Academy of Sciences and other units, Hangzhou in the financial scale, financial structure and financial environment has obvious advantages. Sub-provincial city in the overall level of development of financial services ranking, Hangzhou, ranked first tier, second only to Shenzhen, Guangzhou, ranked third. The second tier includes five cities, namely, Ningbo, Wuhan, Jinan, Chengdu and Nanjing.
Hangzhou relevant person in charge of financial office that has become a financial center in Hangzhou basic conditions, the regional financial center services targeting small and medium enterprises in Hangzhou. Create a regional financial center is a systemic financial engineering, on the future of this goal will be three steps in Hangzhou. The first step, by 2010, consolidating the establishment of the Yangtze River Delta, South Wing, the basic conditions for a financial center, that is, in Qianjiang create a type of subject; the second step, to form a regional financial center by 2015, the basic outline; final, 2020 , Hangzhou pattern of regional financial center in the national competitions, more clear, comprehensive and influential in the country into the Yangtze River Delta, South Wing, financial center.
It is reported that Hangzhou this year there are five listed companies, in addition to five companies have submitted material in the queue, in addition, there are 28 listed companies are preparing application materials. And Hangzhou, the total amount of financial deposit and loan fifth in the country, has built into the Yangtze River Delta, South Wing, the strength of the financial center; the same time, the financial office in Hangzhou has been the country's 13 cities with sub-provincial city signed a strategic cooperation agreement Financial, which also build a national financial platform Hangzhou basis.
According to another report, at present, relevant departments are developing "regional financial center in Hangzhou construction planning", the financial core district of Hangzhou Qianjiang New regional financial center and business the main platform for the financial high ground, in the future, the block will be the southern wing of Yangtze River Delta region the accumulation of financial capital, the allocation to and divergent manner.
Enterprises to facilitate the public are entitled to a financial center
At the show, banking, insurance, securities, funds, futures, foreign finance, integrated finance, venture capital, art and gold collection of various financial institutions to gather together and so on, each bank has also come to visit the exhibition for the launch customers of the financial consulting and service activities.
To introduce the public to Hangzhou gold investment, the bank deliberately copied the sections of the "ideal money" in-kind style, and sent a professional analyst and financial planner sits gold, gold investment advice to the public; stationed in Hangzhou, near the Bohai Bank launched the on-site processing personalized debit card business, as long as the relevant forms completed and submitted to a most satisfying their own photos, you can move to their own good and shadow debit card. Bank of Communications has also launched a cross-line credit card processing site to send small gifts and other activities.
The investment and financing problems for SMEs, Tyrone Banks set up Hangzhou branch of service stand for small and medium enterprises, SME owners and individual businesses to more quickly introduce micro-loans and other products. In addition to foreign-funded banks to enter the market, foreign banks are in Hangzhou Financial Expo to show the heroic, Hang Seng Bank, Bank of East Asia and other foreign banks, financial planner sent a strong lineup, we present good financial products, but also to the international community Jieshuo concept. September 19 to 21, the organizing committee specially set up various professional forums, invited well-known experts in Ho Wan earnings of men and other people over to help in Hangzhou.
Three steps toward regional financial center in Hangzhou
Assessment by the Chinese Academy of Sciences and other units, Hangzhou in the financial scale, financial structure and financial environment has obvious advantages. Sub-provincial city in the overall level of development of financial services ranking, Hangzhou, ranked first tier, second only to Shenzhen, Guangzhou, ranked third. The second tier includes five cities, namely, Ningbo, Wuhan, Jinan, Chengdu and Nanjing.
Hangzhou relevant person in charge of financial office that has become a financial center in Hangzhou basic conditions, the regional financial center services targeting small and medium enterprises in Hangzhou. Create a regional financial center is a systemic financial engineering, on the future of this goal will be three steps in Hangzhou. The first step, by 2010, consolidating the establishment of the Yangtze River Delta, South Wing, the basic conditions for a financial center, that is, in Qianjiang create a type of subject; the second step, to form a regional financial center by 2015, the basic outline; final, 2020 , Hangzhou pattern of regional financial center in the national competitions, more clear, comprehensive and influential in the country into the Yangtze River Delta, South Wing, financial center.
It is reported that Hangzhou this year there are five listed companies, in addition to five companies have submitted material in the queue, in addition, there are 28 listed companies are preparing application materials. And Hangzhou, the total amount of financial deposit and loan fifth in the country, has built into the Yangtze River Delta, South Wing, the strength of the financial center; the same time, the financial office in Hangzhou has been the country's 13 cities with sub-provincial city signed a strategic cooperation agreement Financial, which also build a national financial platform Hangzhou basis.
According to another report, at present, relevant departments are developing "regional financial center in Hangzhou construction planning", the financial core district of Hangzhou Qianjiang New regional financial center and business the main platform for the financial high ground, in the future, the block will be the southern wing of Yangtze River Delta region the accumulation of financial capital, the allocation to and divergent manner.
Enterprises to facilitate the public are entitled to a financial center
At the show, banking, insurance, securities, funds, futures, foreign finance, integrated finance, venture capital, art and gold collection of various financial institutions to gather together and so on, each bank has also come to visit the exhibition for the launch customers of the financial consulting and service activities.
To introduce the public to Hangzhou gold investment, the bank deliberately copied the sections of the "ideal money" in-kind style, and sent a professional analyst and financial planner sits gold, gold investment advice to the public; stationed in Hangzhou, near the Bohai Bank launched the on-site processing personalized debit card business, as long as the relevant forms completed and submitted to a most satisfying their own photos, you can move to their own good and shadow debit card. Bank of Communications has also launched a cross-line credit card processing site to send small gifts and other activities.
The investment and financing problems for SMEs, Tyrone Banks set up Hangzhou branch of service stand for small and medium enterprises, SME owners and individual businesses to more quickly introduce micro-loans and other products. In addition to foreign-funded banks to enter the market, foreign banks are in Hangzhou Financial Expo to show the heroic, Hang Seng Bank, Bank of East Asia and other foreign banks, financial planner sent a strong lineup, we present good financial products, but also to the international community Jieshuo concept. September 19 to 21, the organizing committee specially set up various professional forums, invited well-known experts in Ho Wan earnings of men and other people over to help in Hangzhou.
Innovative Financial Ecology
May 20, an "eco-city in China Finance," medals, hanging into the country municipal meeting room. Piece of medals in the "2009 China Financial (expert) Annual Meeting" on access to, and honor our province's counties (cities, districts) only two.
In 2002, the country set up financial market leading group responsible for promoting the city's financial work. In 2006, the city took the lead in the country set up a "financial service center", as the Government Financial Work Leading Group established offices to local SMEs and financial institutions with information Gedi docking services. Last year, the center part of the business combination of large inventory and inventory management features easy to realize, to strengthen banks outside the city dock, Samsung makes the country Copper Co., Ltd. Hangzhou Binjiang issued to secure the deep branch of the 14.5 million yuan stock as security for loans. Earlier this year, the center learned that 53 enterprises working capital needs 280 million yuan, 69 enterprises needs 330 million yuan funds for technological renovation, the financing needs of these information quickly and to communicate the commercial banks. At present, 49 enterprises and granting loans, 250 million yuan. In addition, the Jiangshan often invite financial experts, economic and financial situation analysis held talks, investment and financing projects through the annual promotion will further optimize the local projects and financial institutions, financial resources docking configuration. Since 2005, has organized Promotion 5, total of 340 contracted projects, the amount of 18.789 billion yuan contract, effectively alleviate the financial needs of industrial economic development.
Give full play to ensure stability of the financial sector emphasized the role of promoting active and innovative financial products and service mechanism. Branch of China Construction Bank country operations center set up small and medium enterprises, to improve processing efficiency, will be 20 million yuan less than the loan processing time, an average of 7 days from the original cut to 2 days; Industrial and Commercial Bank of China branch strengthen the country's credit services to small businesses, launched the "Network loan-to-pass ", the domestic trade finance products, the new settlement business network, has more than 200 business enterprises in their online banking, online Nian settled transactions volume more than 10 billion yuan; Agricultural Bank country more than 60 branches this year to visit companies, new business credit relations 16, the credit amount of up to 110 million yuan. According to reports, in January -4 months, Jiangshan 1.84 billion yuan of new loans, which Jiucheng more toward small and medium enterprises, boosting the company's confidence in overcoming difficulties crucial. In the first 4 months, Jiangshan scale industrial output value reached 4.62 billion yuan, up 9.5%.
Financial innovation to promote financial ecological environment. In the first 4 months, country deposits, loans were 14.116 billion yuan and 11.41 billion yuan, up 30.98 percent year on year respectively, and 30.25 percent, ranking the Quzhou county (city, district) first; financial institutions, non-performing loans and bad Loan rates continue to "double down" the good momentum of non-performing loan rate was 1.51%, compared with 0.53 percent in early fall.
In 2002, the country set up financial market leading group responsible for promoting the city's financial work. In 2006, the city took the lead in the country set up a "financial service center", as the Government Financial Work Leading Group established offices to local SMEs and financial institutions with information Gedi docking services. Last year, the center part of the business combination of large inventory and inventory management features easy to realize, to strengthen banks outside the city dock, Samsung makes the country Copper Co., Ltd. Hangzhou Binjiang issued to secure the deep branch of the 14.5 million yuan stock as security for loans. Earlier this year, the center learned that 53 enterprises working capital needs 280 million yuan, 69 enterprises needs 330 million yuan funds for technological renovation, the financing needs of these information quickly and to communicate the commercial banks. At present, 49 enterprises and granting loans, 250 million yuan. In addition, the Jiangshan often invite financial experts, economic and financial situation analysis held talks, investment and financing projects through the annual promotion will further optimize the local projects and financial institutions, financial resources docking configuration. Since 2005, has organized Promotion 5, total of 340 contracted projects, the amount of 18.789 billion yuan contract, effectively alleviate the financial needs of industrial economic development.
Give full play to ensure stability of the financial sector emphasized the role of promoting active and innovative financial products and service mechanism. Branch of China Construction Bank country operations center set up small and medium enterprises, to improve processing efficiency, will be 20 million yuan less than the loan processing time, an average of 7 days from the original cut to 2 days; Industrial and Commercial Bank of China branch strengthen the country's credit services to small businesses, launched the "Network loan-to-pass ", the domestic trade finance products, the new settlement business network, has more than 200 business enterprises in their online banking, online Nian settled transactions volume more than 10 billion yuan; Agricultural Bank country more than 60 branches this year to visit companies, new business credit relations 16, the credit amount of up to 110 million yuan. According to reports, in January -4 months, Jiangshan 1.84 billion yuan of new loans, which Jiucheng more toward small and medium enterprises, boosting the company's confidence in overcoming difficulties crucial. In the first 4 months, Jiangshan scale industrial output value reached 4.62 billion yuan, up 9.5%.
Financial innovation to promote financial ecological environment. In the first 4 months, country deposits, loans were 14.116 billion yuan and 11.41 billion yuan, up 30.98 percent year on year respectively, and 30.25 percent, ranking the Quzhou county (city, district) first; financial institutions, non-performing loans and bad Loan rates continue to "double down" the good momentum of non-performing loan rate was 1.51%, compared with 0.53 percent in early fall.
Innovative financial marketing model
Recently, Ledu County financial institutions to change the management ideas, innovative marketing model, and tap new credit growth point to actively support promising farmer specialized cooperative economic organizations, to support green Nong Ye, Brand agricultural development, agricultural structure adjustment, Bangzhu agriculture, increasing farmers income, break the "three rural" development bottleneck, the formation of financial and "Rural" co-development of the ideas and concepts.
Up to now, total loans of financial institutions in Ledu County, 27 million yuan, of which agricultural development banks to the two rural cooperative economic organizations and six individuals made of Ledu County agriculture shares registered limited liability company for the purchase and sale of agricultural products has 3 million Loan. Rural credit cooperatives to grind Bo Zhendong Village Pig Association to support the loans total more than 1,600 million, accumulated to high store garlic Association, more than 800 million loans. In strong support of financial institutions, Ledu County has set up farming, breeding, nursery stock, vegetables, flowers, brokers and other kinds of specialized cooperative organizations of farmers 50 to attract more than 8,000 members, radiation 15 towns, 281 administrative villages, driving farmers more than 20,000 households, productive and business scope expanded to farming, vegetables, fruit, nursery stock and other leading industries in the rural economic and social development played an important role in effectively promoting the agricultural structure adjustment and advancing the agricultural industry, market, increase farmers income.
Up to now, total loans of financial institutions in Ledu County, 27 million yuan, of which agricultural development banks to the two rural cooperative economic organizations and six individuals made of Ledu County agriculture shares registered limited liability company for the purchase and sale of agricultural products has 3 million Loan. Rural credit cooperatives to grind Bo Zhendong Village Pig Association to support the loans total more than 1,600 million, accumulated to high store garlic Association, more than 800 million loans. In strong support of financial institutions, Ledu County has set up farming, breeding, nursery stock, vegetables, flowers, brokers and other kinds of specialized cooperative organizations of farmers 50 to attract more than 8,000 members, radiation 15 towns, 281 administrative villages, driving farmers more than 20,000 households, productive and business scope expanded to farming, vegetables, fruit, nursery stock and other leading industries in the rural economic and social development played an important role in effectively promoting the agricultural structure adjustment and advancing the agricultural industry, market, increase farmers income.
2010年8月8日星期日
Yu Taiwan, Taiwan's financial industry the financial elite forum hope rooted in Chongqing
Core Tip: This afternoon, as the "Eighth World Chinese Insurance Conference," an important part of the "elite cross-strait financial exchanges will be" held in Jiefangbei. Anticipation of Chongqing Mayor attended the meeting, from Taiwan's financial elite to the details of the financial business with Chongqing Development Plan.
DragonSoft at 6:50 p.m. on the August 7 hearing (digital reporter Dan Chen, Rui Xiong interns think) this afternoon, as the "Eighth World Chinese Insurance Conference," an important part of the "elite cross-strait financial exchanges" in Jiefangbei meeting. Anticipation of Chongqing Mayor attended the meeting, from Taiwan's financial elite to the details of the financial business with Chongqing Development Plan.
Anticipation that the financial system in Chongqing, including banking, securities, insurance, financial services mainstream, non-bank financial institutions, the various elements of market exchange, clearing house, financial security system, and five levels. Construction of inland Chongqing, the financial center, the work plan is to focus on promoting the development of the five dimensions.
Anticipation that a good financial ecosystem in Chongqing. Chongqing bank assets, including deposits, assets and loan assets, growth rates higher than the national average, making Chongqing loans, financial assets developed quite rapidly. Meanwhile, the Chongqing bank profits grew rapidly.
Vice President of Banking and Finance from Taiwan, said Chen Tailong recent years, many Taiwan businessmen invested in Chongqing. Industry supports the financial industry, the financial industry is the lifeblood. Taiwan's financial industry can look forward to Chongqing, Chongqing, Taiwan capital finance to take root. Cross-strait cooperation in high-quality talent, coupled with a high degree of wisdom, show a kind of self-confidence, future cross-strait financial industry, can certainly lead the world.
DragonSoft at 6:50 p.m. on the August 7 hearing (digital reporter Dan Chen, Rui Xiong interns think) this afternoon, as the "Eighth World Chinese Insurance Conference," an important part of the "elite cross-strait financial exchanges" in Jiefangbei meeting. Anticipation of Chongqing Mayor attended the meeting, from Taiwan's financial elite to the details of the financial business with Chongqing Development Plan.
Anticipation that the financial system in Chongqing, including banking, securities, insurance, financial services mainstream, non-bank financial institutions, the various elements of market exchange, clearing house, financial security system, and five levels. Construction of inland Chongqing, the financial center, the work plan is to focus on promoting the development of the five dimensions.
Anticipation that a good financial ecosystem in Chongqing. Chongqing bank assets, including deposits, assets and loan assets, growth rates higher than the national average, making Chongqing loans, financial assets developed quite rapidly. Meanwhile, the Chongqing bank profits grew rapidly.
Vice President of Banking and Finance from Taiwan, said Chen Tailong recent years, many Taiwan businessmen invested in Chongqing. Industry supports the financial industry, the financial industry is the lifeblood. Taiwan's financial industry can look forward to Chongqing, Chongqing, Taiwan capital finance to take root. Cross-strait cooperation in high-quality talent, coupled with a high degree of wisdom, show a kind of self-confidence, future cross-strait financial industry, can certainly lead the world.
Talent Competition held in charm people, Financial Street
According to reports, Financial Street charm Talent Competition for the Financial Street area were the staff, but also welcome the residents of surrounding communities, commercial shops, and love of performing practitioners, concerned about the Financial Street, the development of groups and individuals free of charge to attend. Competition is planned to start the first weekend in September through the preliminaries, semi-finals and finals, decided at the Financial Street, "Mr. Charm", "Ms. charm" each one, and selected the Best Performance Award, Best Talent, Best Image Award, Excellence Award and other awards.
Anticipation invited Taiwan financial Lai Yu "Gold Rush"
Yesterday, Taiwan's financial elite center for the transfer of shares in Chongqing tours. Ouyang ancestral soldier's photo
NEW YORK (Chief Reporter Sun Liming Liang age intern reporter Wang Shi Jie) yesterday, the chairman of Taiwan's Sovereign Bank Chiu led more than 30 elite Lai Yu Taiwan's financial sector study. Elite cross-strait financial exchanges in the meeting, the Municipal Committee, mayor of Chongqing, Huang Qifan introduced the financial industry development plan, and invited financial institutions to establish branches in our city.
Chongqing, the financial industry "suck money power," leading the country
Anticipation that from asset quality, the current non-performing assets of banks in Chongqing was only about 1%. In 31 provincial cities, including Beijing, Shanghai and Chongqing cities in three lowest non-performing assets. In addition, all banks operating in Chongqing data is not bad. For example, the city banks of deposit and loan growth, has been for 6 years higher than the national average; Chongqing, the bank's return on capital of nearly 20%, while the national average was about 14%; over the past four or five years, Chongqing premium growth rate of 40%.
5 years later, the proportion of the financial industry will reach 12%
Whether a city can become the financial center of the surrounding radiation, an important index is the "loan balance: GDP" ratio. Anticipation that if the ratio of "1:1" sufficient to support economic development. But now, this proportion reached Chongqing, "1.5:1", will strive for 10 years, the proportion had reached "2.5:1", to become the financial center of the surrounding radiation. In addition, the proportion of the financial industry in Chongqing will also rise. Anticipation that, at present, the city GDP, the financial sector accounting for 8.2%, ranking third. The city will strive to 2012, raise the proportion to 10% to 12% in 2015 to upgrade.
5 levels to promote financial development in Chongqing
To achieve these objectives, Chongqing has a clear path to the financial industry. Anticipation that, Chongqing is China one of the 5 major cities, development of the financial industry will focus on five levels of progress, including: bank, insurance, securities Wei representatives of mainstream financial services to the trust, leasing, small loan companies represented by non-mainstream financial institutions, in addition to elements of the market, clearing house and financial security system. Anticipation that, in addition to actively introduce stationed around the city commercial banks in recent years, great efforts to cultivate the city's securities market and hope a few years, the market value of listed companies in Chongqing with GDP rather, at the same time strive to become the company's road show to be listed on the center. If the future of listed companies often have road shows to Chongqing, then the various brokerage firms, funds, investors, insurance companies will set up points to Chongqing.
5 above the Bank of Taiwan intended to "settle down" in Chongqing
Concern of cross-strait economic cooperation framework agreement (ECFA) was signed this year in June in Chongqing, Chongqing became Taiwan's financial cooperation with the pilot areas, to provide Taiwan the mainland banking sector, "green channel" of concessions to the mainland to Taiwan's financial industry set up Branch offers a fast approval. The background of the face of this new cooperation, Taiwan's financial industry is how to treat it?
Willingness to cooperate
For five more banks to enter the Chongqing
"Chongqing's rapid economic development has become the land of domestic and foreign investment enterprises. Such a city, the demand for capital is enormous, and is rapidly growing. Any bank came in were promising." Chiu, chairman of Taiwan's Sovereign Bank, said, Currently the cities of Chongqing, the financial industry is growing rapidly and a huge market, the banks alone to eat, "spread", you can survive very well. With the economic and trade exchanges across the Taiwan Strait continues to heat up, many Taiwan business people in the industry has been investing in building factories in Chongqing, such as Foxconn, Quanta, Inventec, and other famous enterprises have settled in Chongqing.
"Taiwan enterprises should follow the financial industry to Chongqing, providing services for them." Chiu said that Taiwan's banks to enter the short term likely to Chongqing. Currently, there are five banks of more than express such desire. In their view, the two sides in the training of financial personnel, small business loans, and other aspects of space cooperation.
Co-direction
Talent, great trust co-operation
Taiwan's vice president of finance of the Institute Chentai Long said, Taiwan has 37 domestic banks, 32 foreign banks, in addition to 326 community financial institutions. So many banking institutions led to excessive competition in Taiwan's banking industry. Deposit spreads narrow, the current deposit interest rate in Taiwan is only 1.2%, lower profitability. In contrast, mainland banks full competition with Taiwan. Therefore Chentai Long suggested that high-quality personnel in finance, financial products, such as joint research and development cooperation. Taiwan's First Commercial Bank, Ltd, Chow Pak banana Biao Shi, Zai financial Hezuo area, Chongqing Jinrongjigou also go to Taiwan Touzi development, Liang An Yin Xingye can Jianlicelue Lianmengpingtai, cross Huobi clearing Ji Zhi Jian Li, mutual Chengrenjinrong professional license, promote personnel exchanges, the combat against money laundering and financial crime. Cross-strait financial exchanges with the industry through training, exchange of personnel, high-level visits, etc., enhance the management level. Taiwan Trust Association, said the Secretary-General Wu Chun Yi, Taiwan more advanced trust business, has 45 operations in money and trust, real estate trusts, securities trusts. Cross-strait cooperation in trust business, trust companies to explore co-operation with the mainland handling trust business, shares of domestic investment trust companies or directly for the establishment of trust.
"I share transfer center in Chongqing and agricultural and livestock exchange is interested in shares if the means of cooperation can be very good." KGI KGI Securities Co., Ltd., Wei Baosheng that he can help more of Chongqing Taiwan listed companies, financing.
NEW YORK (Chief Reporter Sun Liming Liang age intern reporter Wang Shi Jie) yesterday, the chairman of Taiwan's Sovereign Bank Chiu led more than 30 elite Lai Yu Taiwan's financial sector study. Elite cross-strait financial exchanges in the meeting, the Municipal Committee, mayor of Chongqing, Huang Qifan introduced the financial industry development plan, and invited financial institutions to establish branches in our city.
Chongqing, the financial industry "suck money power," leading the country
Anticipation that from asset quality, the current non-performing assets of banks in Chongqing was only about 1%. In 31 provincial cities, including Beijing, Shanghai and Chongqing cities in three lowest non-performing assets. In addition, all banks operating in Chongqing data is not bad. For example, the city banks of deposit and loan growth, has been for 6 years higher than the national average; Chongqing, the bank's return on capital of nearly 20%, while the national average was about 14%; over the past four or five years, Chongqing premium growth rate of 40%.
5 years later, the proportion of the financial industry will reach 12%
Whether a city can become the financial center of the surrounding radiation, an important index is the "loan balance: GDP" ratio. Anticipation that if the ratio of "1:1" sufficient to support economic development. But now, this proportion reached Chongqing, "1.5:1", will strive for 10 years, the proportion had reached "2.5:1", to become the financial center of the surrounding radiation. In addition, the proportion of the financial industry in Chongqing will also rise. Anticipation that, at present, the city GDP, the financial sector accounting for 8.2%, ranking third. The city will strive to 2012, raise the proportion to 10% to 12% in 2015 to upgrade.
5 levels to promote financial development in Chongqing
To achieve these objectives, Chongqing has a clear path to the financial industry. Anticipation that, Chongqing is China one of the 5 major cities, development of the financial industry will focus on five levels of progress, including: bank, insurance, securities Wei representatives of mainstream financial services to the trust, leasing, small loan companies represented by non-mainstream financial institutions, in addition to elements of the market, clearing house and financial security system. Anticipation that, in addition to actively introduce stationed around the city commercial banks in recent years, great efforts to cultivate the city's securities market and hope a few years, the market value of listed companies in Chongqing with GDP rather, at the same time strive to become the company's road show to be listed on the center. If the future of listed companies often have road shows to Chongqing, then the various brokerage firms, funds, investors, insurance companies will set up points to Chongqing.
5 above the Bank of Taiwan intended to "settle down" in Chongqing
Concern of cross-strait economic cooperation framework agreement (ECFA) was signed this year in June in Chongqing, Chongqing became Taiwan's financial cooperation with the pilot areas, to provide Taiwan the mainland banking sector, "green channel" of concessions to the mainland to Taiwan's financial industry set up Branch offers a fast approval. The background of the face of this new cooperation, Taiwan's financial industry is how to treat it?
Willingness to cooperate
For five more banks to enter the Chongqing
"Chongqing's rapid economic development has become the land of domestic and foreign investment enterprises. Such a city, the demand for capital is enormous, and is rapidly growing. Any bank came in were promising." Chiu, chairman of Taiwan's Sovereign Bank, said, Currently the cities of Chongqing, the financial industry is growing rapidly and a huge market, the banks alone to eat, "spread", you can survive very well. With the economic and trade exchanges across the Taiwan Strait continues to heat up, many Taiwan business people in the industry has been investing in building factories in Chongqing, such as Foxconn, Quanta, Inventec, and other famous enterprises have settled in Chongqing.
"Taiwan enterprises should follow the financial industry to Chongqing, providing services for them." Chiu said that Taiwan's banks to enter the short term likely to Chongqing. Currently, there are five banks of more than express such desire. In their view, the two sides in the training of financial personnel, small business loans, and other aspects of space cooperation.
Co-direction
Talent, great trust co-operation
Taiwan's vice president of finance of the Institute Chentai Long said, Taiwan has 37 domestic banks, 32 foreign banks, in addition to 326 community financial institutions. So many banking institutions led to excessive competition in Taiwan's banking industry. Deposit spreads narrow, the current deposit interest rate in Taiwan is only 1.2%, lower profitability. In contrast, mainland banks full competition with Taiwan. Therefore Chentai Long suggested that high-quality personnel in finance, financial products, such as joint research and development cooperation. Taiwan's First Commercial Bank, Ltd, Chow Pak banana Biao Shi, Zai financial Hezuo area, Chongqing Jinrongjigou also go to Taiwan Touzi development, Liang An Yin Xingye can Jianlicelue Lianmengpingtai, cross Huobi clearing Ji Zhi Jian Li, mutual Chengrenjinrong professional license, promote personnel exchanges, the combat against money laundering and financial crime. Cross-strait financial exchanges with the industry through training, exchange of personnel, high-level visits, etc., enhance the management level. Taiwan Trust Association, said the Secretary-General Wu Chun Yi, Taiwan more advanced trust business, has 45 operations in money and trust, real estate trusts, securities trusts. Cross-strait cooperation in trust business, trust companies to explore co-operation with the mainland handling trust business, shares of domestic investment trust companies or directly for the establishment of trust.
"I share transfer center in Chongqing and agricultural and livestock exchange is interested in shares if the means of cooperation can be very good." KGI KGI Securities Co., Ltd., Wei Baosheng that he can help more of Chongqing Taiwan listed companies, financing.
For Taiwan's financial industry, setting up branches Lai Yu
Eighth World Conference of Chinese an important part of the insurance --- to hold cross-strait financial exchanges. Senior people from Taiwan have indicated that the financial sector, financial market development potential of Chongqing, and Chongqing in the financial aspect is willing to strengthen cooperation, including exploring to set up branches in Chongqing and training of financial professionals, lending to SMEs and other Zhankai deep cooperation.
Taiwan's banking sector competition
Vice President of Finance of the Institute of Taiwan, said Chen Tailong, competitive banking industry in Taiwan, can be "too much" to describe the number of banking institutions in Taiwan.
He said Taiwan has 37 domestic banks, 32 foreign banks, in addition to 326 community financial institutions. So many banking institutions led to excessive competition in Taiwan's banking industry. Deposit spreads narrow, the current deposit interest rate in Taiwan is only 1.2%, lower profitability.
Taiwan's current situation is: too much money chasing too few opportunities. Which areas can make money, we all rush at once, once the market saturated, profits will be down, the result fluctuations in the profitability of banks is high.
However, more advanced and the Bank of Taiwan Industry structure, financial innovation has strong management experience, all kinds of professionals are also available, in quality service, cost control and risk control management, a unique.
Chongqing, a huge market potential
At the symposium, said Taiwan's financial sector, and Taiwan's market is different from the mainland banking sector development in late, great potential. At present China is growing rapidly and the financial industry, a huge market with growth potential, "Bank interest rate alone, it can survive very well."
Chongqing as well. Taiwan's financial sector that many financial indicators in Chongqing is not only ranked among the top, but the equity already established in the transfer of Yuzhong District, Chongqing agricultural and livestock exchange, Chongqing United Assets and Equity Exchange, the land transaction market, are unique.
In recent years, economic and trade exchanges across the Taiwan Strait continues to heat up, trade and trade dependency is increasing, and Taiwanese investment become increasingly active in China, many Taiwan business people in the industry has been investing in building factories in Chongqing, such as Foxconn, ASUS, and other famous enterprises have settled in Chongqing, "the financial industry should follow the Taiwan enterprises to Chongqing, for their service."
Various forms of cooperation
Exchange meeting, Taiwan's financial sector that, in June, cross-strait economic cooperation framework agreement signed in Chongqing, Chongqing became Taiwan's financial cooperation with the pilot areas, financial cooperation and exchanges between the two sides face enormous development opportunities.
So, what the two sides can co-operate?
Taiwan's First Commercial Bank of Chow Pak Chiu said that financial cooperation in Taiwan and the Chongqing Financial Jigou She can cross, the cross-strait banking Jianlicelue alliance platform, Jian Li cross-strait currency Qingsuan mechanism, Xianghuchengren financial Zhuanye license, strengthen talents, joint prevention of money laundering, combat financial crime.
Chen Tailong claimed, Taiwan's financial industry in the market marketing, personnel training, risk management and Kongzhi gained such valuable experience Lianganjinrong the industry can Tongguopeixun Jiao Liu, exchange of personnel, exchange of visits and other means Gaoceng learn from each other Jiashenlejie together to improve the management level.
Taiwan Trust Association, said the Secretary-General Wu Xun Yi, Taiwan more advanced trust business, cross-strait cooperation in the trust industry, to explore cooperation in handling trust business, shares of domestic investment trust companies, directly apply for the establishment of trust.
KIG KGI Securities Co., Ltd., Wei Baosheng that he was the city center and the agricultural and livestock share transfer transactions interested in equity participation by way of cooperation. At the same time, can also help Chongqing to Taiwan listed companies and financing.
Taiwan's banking sector competition
Vice President of Finance of the Institute of Taiwan, said Chen Tailong, competitive banking industry in Taiwan, can be "too much" to describe the number of banking institutions in Taiwan.
He said Taiwan has 37 domestic banks, 32 foreign banks, in addition to 326 community financial institutions. So many banking institutions led to excessive competition in Taiwan's banking industry. Deposit spreads narrow, the current deposit interest rate in Taiwan is only 1.2%, lower profitability.
Taiwan's current situation is: too much money chasing too few opportunities. Which areas can make money, we all rush at once, once the market saturated, profits will be down, the result fluctuations in the profitability of banks is high.
However, more advanced and the Bank of Taiwan Industry structure, financial innovation has strong management experience, all kinds of professionals are also available, in quality service, cost control and risk control management, a unique.
Chongqing, a huge market potential
At the symposium, said Taiwan's financial sector, and Taiwan's market is different from the mainland banking sector development in late, great potential. At present China is growing rapidly and the financial industry, a huge market with growth potential, "Bank interest rate alone, it can survive very well."
Chongqing as well. Taiwan's financial sector that many financial indicators in Chongqing is not only ranked among the top, but the equity already established in the transfer of Yuzhong District, Chongqing agricultural and livestock exchange, Chongqing United Assets and Equity Exchange, the land transaction market, are unique.
In recent years, economic and trade exchanges across the Taiwan Strait continues to heat up, trade and trade dependency is increasing, and Taiwanese investment become increasingly active in China, many Taiwan business people in the industry has been investing in building factories in Chongqing, such as Foxconn, ASUS, and other famous enterprises have settled in Chongqing, "the financial industry should follow the Taiwan enterprises to Chongqing, for their service."
Various forms of cooperation
Exchange meeting, Taiwan's financial sector that, in June, cross-strait economic cooperation framework agreement signed in Chongqing, Chongqing became Taiwan's financial cooperation with the pilot areas, financial cooperation and exchanges between the two sides face enormous development opportunities.
So, what the two sides can co-operate?
Taiwan's First Commercial Bank of Chow Pak Chiu said that financial cooperation in Taiwan and the Chongqing Financial Jigou She can cross, the cross-strait banking Jianlicelue alliance platform, Jian Li cross-strait currency Qingsuan mechanism, Xianghuchengren financial Zhuanye license, strengthen talents, joint prevention of money laundering, combat financial crime.
Chen Tailong claimed, Taiwan's financial industry in the market marketing, personnel training, risk management and Kongzhi gained such valuable experience Lianganjinrong the industry can Tongguopeixun Jiao Liu, exchange of personnel, exchange of visits and other means Gaoceng learn from each other Jiashenlejie together to improve the management level.
Taiwan Trust Association, said the Secretary-General Wu Xun Yi, Taiwan more advanced trust business, cross-strait cooperation in the trust industry, to explore cooperation in handling trust business, shares of domestic investment trust companies, directly apply for the establishment of trust.
KIG KGI Securities Co., Ltd., Wei Baosheng that he was the city center and the agricultural and livestock share transfer transactions interested in equity participation by way of cooperation. At the same time, can also help Chongqing to Taiwan listed companies and financing.
2010年8月6日星期五
Internationalization of gold also rose ten decisions
Li Jun, the Shanghai Gold Exchange expert advisory members; Ho Chen, Department Director Lee asset investment, a typical representative of Public-private transfer. Yesterday, Chengdu Branch of China Everbright Bank to listen to organizations master lecture held in Chengdu, the two styles of talking heads appear on the podium.
Although the topic of conversation be different, but two of the confidence of the investment in the future. Jun Li convinced that gold will at least gain a further 10 years; Ho Chen argued that A shares expected to reproduce the systematic from 2006 to 2007, chances are unlikely, only to find institutional investors the opportunity.
RMB internationalization decision would increase gold
June 19, the central bank announced further promote the reform of RMB exchange rate formation mechanism, enhance the flexibility of RMB exchange rate. This is the market seen as an important step in the internationalization of RMB.
"Internationalization of the Renminbi, the gold will be doomed to rise." After a lapse of eight years, Li Jun Rong investors once again appear in front of his current status is the most important member of Shanghai Gold Exchange expert advisory.
Eight years ago, Li Jun debut in Chengdu, was closed to the media, "China's first exchange of God" title, then he that is a hot topic in foreign currency speculation. "RMB exchange has not changed, many people are keen on foreign exchange speculation," Li Jun said that after the exchange rate reform in 2005, foreign exchange investment has been very difficult to become investment hot spots, will be replaced by gold.
10 years ago, the international spot price of gold is more than 200 U.S. dollars an ounce; five years ago, is more than 400 U.S. dollars; today, is more than 1200 U.S. dollars. Li Jun said that participation in gold investment, in addition to the portfolio, especially for the needs of the market itself.
He pointed out that the internationalization of the yuan to become a reserve currency, and must be based on gold reserves. At present, about 1,100 tons of gold reserves, Li Jun said that he has senior people from the Shanghai Gold Exchange was informed, at least our gold reserves to 4,000 tons, to allow the RMB internationalization. This means that China's holdings of gold possible.
Not only that, including India, Russia, South Korea, and holdings of gold reserves, "between supply and demand will directly push gold higher." Li Jun said that the yuan could become an international currency in 2020, a hidden meaning behind this is that "Gold will rise at least 10 years."
The future of technology and private investment spending is key
Li Chun, passionate style and very different from Shanghai willy Asset Management and Chief Investment Officer, General Manager Ho Chen should be prudent lot. In his own words, "I am better than Li (Jun) teachers may be more rational."
Ho Chen said that China's economic growth model is from a resource-driven to innovation-driven change, which will determine the industry's long-term trends in resource allocation. Experienced a bull market years of 2006,2007, and 2008 after the crash, the stock market entered a period of adjustment.
Ho Chen said, A 股 market Yi did not have systematic opportunities, which are easily reproduced Bu Hui Du Shang Zhang Zhi Gupiao the criteria, and Zhihui You structural 机会, "They will exist in the technological innovation, consumer services."
2010, the Government stressed the need to focus on resolving employment, housing, social security, medical, public health, livelihood issues, to improve the residents quality of life. In the private equity fund, it seems, to guide the implementation of these policies will help eliminate the worries of the people to enhance their desire for consumption, "consumption growth in China will reproduce the history of Japan and Korea."
Ho Chen pointed out that the consumer is imminent in the people, the consumer valuation of listed companies are at historic lows, leaving sufficient for their living spaces, such as Suning Electric, Maotai, Haier, Tencent and other stocks.
Meanwhile, in the resource-driven to innovation-driven model transformation, the new energy industry, there are great investment opportunities, the building energy-saving materials, electric vehicles, smart Dian Wang, photovoltaic.
In yesterday's speech, as a private equity fund managers, not too much to talk about how shock index, he has passed his investment philosophy teams. He stressed four principles:
First, the target must have adequate margin of safety. This is the most important of all stock selection must comply with the conditions.
Second, we must make sure to identify the money, that is, the probability of the event bigger.
Third, as far as possible to shorten the waiting period profit, which is selected as the intervention point (wait catalyst appear).
Fourth, the systematic risk of the view that the head to avoid the large level, other levels of adjustment can be adjusted and shareholding position to reduce the risk of structural adjustment.
Although the topic of conversation be different, but two of the confidence of the investment in the future. Jun Li convinced that gold will at least gain a further 10 years; Ho Chen argued that A shares expected to reproduce the systematic from 2006 to 2007, chances are unlikely, only to find institutional investors the opportunity.
RMB internationalization decision would increase gold
June 19, the central bank announced further promote the reform of RMB exchange rate formation mechanism, enhance the flexibility of RMB exchange rate. This is the market seen as an important step in the internationalization of RMB.
"Internationalization of the Renminbi, the gold will be doomed to rise." After a lapse of eight years, Li Jun Rong investors once again appear in front of his current status is the most important member of Shanghai Gold Exchange expert advisory.
Eight years ago, Li Jun debut in Chengdu, was closed to the media, "China's first exchange of God" title, then he that is a hot topic in foreign currency speculation. "RMB exchange has not changed, many people are keen on foreign exchange speculation," Li Jun said that after the exchange rate reform in 2005, foreign exchange investment has been very difficult to become investment hot spots, will be replaced by gold.
10 years ago, the international spot price of gold is more than 200 U.S. dollars an ounce; five years ago, is more than 400 U.S. dollars; today, is more than 1200 U.S. dollars. Li Jun said that participation in gold investment, in addition to the portfolio, especially for the needs of the market itself.
He pointed out that the internationalization of the yuan to become a reserve currency, and must be based on gold reserves. At present, about 1,100 tons of gold reserves, Li Jun said that he has senior people from the Shanghai Gold Exchange was informed, at least our gold reserves to 4,000 tons, to allow the RMB internationalization. This means that China's holdings of gold possible.
Not only that, including India, Russia, South Korea, and holdings of gold reserves, "between supply and demand will directly push gold higher." Li Jun said that the yuan could become an international currency in 2020, a hidden meaning behind this is that "Gold will rise at least 10 years."
The future of technology and private investment spending is key
Li Chun, passionate style and very different from Shanghai willy Asset Management and Chief Investment Officer, General Manager Ho Chen should be prudent lot. In his own words, "I am better than Li (Jun) teachers may be more rational."
Ho Chen said that China's economic growth model is from a resource-driven to innovation-driven change, which will determine the industry's long-term trends in resource allocation. Experienced a bull market years of 2006,2007, and 2008 after the crash, the stock market entered a period of adjustment.
Ho Chen said, A 股 market Yi did not have systematic opportunities, which are easily reproduced Bu Hui Du Shang Zhang Zhi Gupiao the criteria, and Zhihui You structural 机会, "They will exist in the technological innovation, consumer services."
2010, the Government stressed the need to focus on resolving employment, housing, social security, medical, public health, livelihood issues, to improve the residents quality of life. In the private equity fund, it seems, to guide the implementation of these policies will help eliminate the worries of the people to enhance their desire for consumption, "consumption growth in China will reproduce the history of Japan and Korea."
Ho Chen pointed out that the consumer is imminent in the people, the consumer valuation of listed companies are at historic lows, leaving sufficient for their living spaces, such as Suning Electric, Maotai, Haier, Tencent and other stocks.
Meanwhile, in the resource-driven to innovation-driven model transformation, the new energy industry, there are great investment opportunities, the building energy-saving materials, electric vehicles, smart Dian Wang, photovoltaic.
In yesterday's speech, as a private equity fund managers, not too much to talk about how shock index, he has passed his investment philosophy teams. He stressed four principles:
First, the target must have adequate margin of safety. This is the most important of all stock selection must comply with the conditions.
Second, we must make sure to identify the money, that is, the probability of the event bigger.
Third, as far as possible to shorten the waiting period profit, which is selected as the intervention point (wait catalyst appear).
Fourth, the systematic risk of the view that the head to avoid the large level, other levels of adjustment can be adjusted and shareholding position to reduce the risk of structural adjustment.
Ping An Trust awarded "Outstanding Trust"
Recently, the "Securities Times" sponsored "the Third China Trust Award Outstanding activities", the Ping An Trust, with its excellence in the professional field, awarded "China's outstanding trust" and "China's outstanding trust managers" "Best class of securities investment trust plans," "the best real estate trust plan," "the best combination of investment trust products," "the most influential brand (product)" six awards.
It is reported that the current evaluation activities, the theme of "innovation lead before the line", participants Criteria for the Trust's revenue, profitability, product proceeds from the mandatory indicators, product innovation and business model innovation were included in the evaluation range.
It is reported that the current evaluation activities, the theme of "innovation lead before the line", participants Criteria for the Trust's revenue, profitability, product proceeds from the mandatory indicators, product innovation and business model innovation were included in the evaluation range.
Money should not ignore the "penny"
People ask the classic question for investors is: "How do your risk tolerance?" Asked this question in fact is: "Would you pay how much?" No one is willing to lose money, so the correct question is asked should be: "You can accept what the market turmoil?" The key here is that you make sure you can withstand market volatility, so that your portfolio for you to bring the expected benefits.
If you are concerned about their investments because of uneasy, sleepless nights, you're investing in the stock market too much. People always want to play the stock market arena, "home run" because they have heard too many stories of investment success stories. However, the more people want to play the "home run", the further away from success.
As Credit Suisse Private Bank's investment director of the United States 罗伯特维森 Stan said: If you do not know right market turmoil capacity, then you will not be a successful investment experience, and the prices change at the beginning, you will be scared wits, fled. So, first do not worry about how tomorrow's market, you should first take a step back, find out their level of bear market turmoil, after so your investment portfolio to "complete its work", so you can more freely more difficult to walk on the investment environment and investment situation was.
So, how to build your own portfolio then? First of all, never put all your eggs in one basket. Market and various asset management theory proved time and time again, people may be totally different and people's expectations, so in a successful investment strategy has been repeatedly cited the "diversification" principle means that your portfolio will not focus at a certain specific securities. In general, many different types of assets available for investment, the typical investment portfolio should include equity and fixed income products.
To certain "penny" into your investment portfolio is very important, such as bonds, they will become your portfolio is relatively stable part of this is that you can count on, you can plan investments. In addition, they can bring you a more stable income. This stable income stream that you invest in a "gift." More importantly, return on fixed-income products, contact with the stock is not very big, its price will not change with changes in stock prices. When your portfolio there are two kinds of assets is not relevant, you also greatly reduce the risk.
If you are concerned about their investments because of uneasy, sleepless nights, you're investing in the stock market too much. People always want to play the stock market arena, "home run" because they have heard too many stories of investment success stories. However, the more people want to play the "home run", the further away from success.
As Credit Suisse Private Bank's investment director of the United States 罗伯特维森 Stan said: If you do not know right market turmoil capacity, then you will not be a successful investment experience, and the prices change at the beginning, you will be scared wits, fled. So, first do not worry about how tomorrow's market, you should first take a step back, find out their level of bear market turmoil, after so your investment portfolio to "complete its work", so you can more freely more difficult to walk on the investment environment and investment situation was.
So, how to build your own portfolio then? First of all, never put all your eggs in one basket. Market and various asset management theory proved time and time again, people may be totally different and people's expectations, so in a successful investment strategy has been repeatedly cited the "diversification" principle means that your portfolio will not focus at a certain specific securities. In general, many different types of assets available for investment, the typical investment portfolio should include equity and fixed income products.
To certain "penny" into your investment portfolio is very important, such as bonds, they will become your portfolio is relatively stable part of this is that you can count on, you can plan investments. In addition, they can bring you a more stable income. This stable income stream that you invest in a "gift." More importantly, return on fixed-income products, contact with the stock is not very big, its price will not change with changes in stock prices. When your portfolio there are two kinds of assets is not relevant, you also greatly reduce the risk.
Tips for financial products to buy Trust
CHONGQING, China (Xinhuanet Wavelet Packets) In recent years, low interest rates as banks, trust banking market has become hot. Chongqing bank financial experts advise investors to buy trust in financial products, as we choose capital strength, high integrity, good assets in good condition and historical performance of a trust company, in particular to note the following.
First, trust products, the most critical earnings outlook. Products currently on the market are mostly a collection of trust fund trust scheme, that is, the trust funds in advance to determine the specific orientation. Therefore, investors in the purchase of financial products to pay attention to the Trust Trust project is good or bad, as an industry in which the Trust project, the operation of the process is stable and reliable cash flows, the project put into operation if there is a vast market prospects and sales. These are implicit trust project success rate, the relationship between principal and income investors are able to obtain due time.
Second, the study projects the security situation in the Trust. A bank guarantee or bank loans to the trust committed to follow-up project, the safety factor will be higher than the general trust items, of course, the returns would be relatively lower. In addition, the project secured the trust, investors can not just look at the secured party's asset size, but by the secured party's debt ratio, profitability, cash flow and sustainable development of enterprises and other factors.
Third, know your risk appetite. Under normal circumstances, invest in real estate, stock market, trust project risk is slightly higher, but the income is relatively high; and investment in energy, electricity and other infrastructure projects the trust is relatively stable, cash flow clear, but the benefits of good safety relatively low. Therefore, the demand for a pension or preparatory education for their children gold investors, it is best to purchase low-risk, moderate income trust products.
First, trust products, the most critical earnings outlook. Products currently on the market are mostly a collection of trust fund trust scheme, that is, the trust funds in advance to determine the specific orientation. Therefore, investors in the purchase of financial products to pay attention to the Trust Trust project is good or bad, as an industry in which the Trust project, the operation of the process is stable and reliable cash flows, the project put into operation if there is a vast market prospects and sales. These are implicit trust project success rate, the relationship between principal and income investors are able to obtain due time.
Second, the study projects the security situation in the Trust. A bank guarantee or bank loans to the trust committed to follow-up project, the safety factor will be higher than the general trust items, of course, the returns would be relatively lower. In addition, the project secured the trust, investors can not just look at the secured party's asset size, but by the secured party's debt ratio, profitability, cash flow and sustainable development of enterprises and other factors.
Third, know your risk appetite. Under normal circumstances, invest in real estate, stock market, trust project risk is slightly higher, but the income is relatively high; and investment in energy, electricity and other infrastructure projects the trust is relatively stable, cash flow clear, but the benefits of good safety relatively low. Therefore, the demand for a pension or preparatory education for their children gold investors, it is best to purchase low-risk, moderate income trust products.
Trust potential traffic class
Recently, the China Banking Regulatory Commission cross-checks to make strictly limited trust and cooperation, including the type of infrastructure trust. However, transport infrastructure investment trust to be "reserved." In this case, the market's enthusiasm for the trust on the traffic class and gradually warming
Product Name: Jinsin Trust "Taxi operating rights of the trust funds"
Product size: 200 million yuan Trust period: 1 year Estimated annual yield: 5% of funds invested: According to the plan, the city's Urban Construction Investment Company within one year will be all right to trust Taxi operation, which will fund the first sexual intercourse to the urban construction company. In the trust period, urban construction company will then operate the right to due Taxi transfer funds directly into a trust company set up in a bank trust accounts, trust funds first to pay the cost to offset the remainder of the trust fund principal, until the principal of the trust fund is zero.
Features: The program in project selection for annual operating lease expiring Taxi paragraph as trust income, reflecting a very good cash flow. The plan guaranteed by the municipal government, urban construction companies can not schedule commitments when the trust funds to pay the cost of repayment of principal when the trust fund, to be paid by the municipal finance, greatly reducing product risk.
Product Name: Jiangsu International Trust and "Highway traffic Holdings Capital Trust"
Product size: 200 million yuan Trust period: 1 year Estimated annual yield: 3.7% of invested capital: capital loans of the trust model will be used in Jiangsu Transport Holdings Ltd, and its revenue mainly from the Jiangsu Transport Holdings Limited Interest about 4.779%; the same time, loan interest income in the year prior to the Trust distribution of interests with the inter-bank, bank deposits, treasury bonds investment income, the sale of bond spreads, inter-bank interest rates, bank deposits and interest.
Features: The interest on the loan payments, the design of the borrowing company to pay quarterly interest on the loan request, this trust can borrow one to grasp the operating conditions and capacity to pay back the interest can be reinvested. Loan guarantees, the product design for the loans issued by banks irrevocable joint and several liability provision of guarantee to investors the risks to a minimum. In risk prevention, the protective measures of the product design twofold: first, trust companies found that borrowers in the trust fund may be affecting the safety of major business issue, entitled to demand early repayment terms; second, the borrower may not early repayment of loan principal, thus avoiding the risk of re-investment.
Product Name: Jinsin Trust "Taxi operating rights of the trust funds"
Product size: 200 million yuan Trust period: 1 year Estimated annual yield: 5% of funds invested: According to the plan, the city's Urban Construction Investment Company within one year will be all right to trust Taxi operation, which will fund the first sexual intercourse to the urban construction company. In the trust period, urban construction company will then operate the right to due Taxi transfer funds directly into a trust company set up in a bank trust accounts, trust funds first to pay the cost to offset the remainder of the trust fund principal, until the principal of the trust fund is zero.
Features: The program in project selection for annual operating lease expiring Taxi paragraph as trust income, reflecting a very good cash flow. The plan guaranteed by the municipal government, urban construction companies can not schedule commitments when the trust funds to pay the cost of repayment of principal when the trust fund, to be paid by the municipal finance, greatly reducing product risk.
Product Name: Jiangsu International Trust and "Highway traffic Holdings Capital Trust"
Product size: 200 million yuan Trust period: 1 year Estimated annual yield: 3.7% of invested capital: capital loans of the trust model will be used in Jiangsu Transport Holdings Ltd, and its revenue mainly from the Jiangsu Transport Holdings Limited Interest about 4.779%; the same time, loan interest income in the year prior to the Trust distribution of interests with the inter-bank, bank deposits, treasury bonds investment income, the sale of bond spreads, inter-bank interest rates, bank deposits and interest.
Features: The interest on the loan payments, the design of the borrowing company to pay quarterly interest on the loan request, this trust can borrow one to grasp the operating conditions and capacity to pay back the interest can be reinvested. Loan guarantees, the product design for the loans issued by banks irrevocable joint and several liability provision of guarantee to investors the risks to a minimum. In risk prevention, the protective measures of the product design twofold: first, trust companies found that borrowers in the trust fund may be affecting the safety of major business issue, entitled to demand early repayment terms; second, the borrower may not early repayment of loan principal, thus avoiding the risk of re-investment.
M & A speculation in the banking sector privatization of banks hard
China Industrial and Commercial Bank of China (1398) confirmed that ICBC will be (349), after privatization, the concept of triggering the market fry for another bank merger, so that small and medium banks in Hong Kong stocks surge further, including Wing Hang Bank (302) rose more than 8 percent yesterday. And BOC Hong Kong (2388) increased 2 percent, the cumulative increase since the month reached into more. Analysts believe that, although investors speculated the Bank of China (3988), or will the privatization of Bank of China, I believe that is unlikely.
ICBC rose plate privatization to stimulate the Deutsche Bank report noted that the privatization of ICBC ICBC Asia will make the latter have more room for growth and are not subject to restrictions on the lower level of capital ratios. ICBC is also beneficial in the RMB business with the huge growth opportunities. Report refers to "ICBC is interested to buy other banks in Hong Kong is the next logical problem."
ICBC Asia to be privatized by the news, the market fry concept of bank mergers and acquisitions, including Wing Hang up another 8.3 percent yesterday, two hexagonal close at 86 yuan, after the suspension from the ICBC, the cumulative increase in Wing Hang More than one-six. Dah Sing Bank (2356) and Dah Sing Financial (440) rose 5.92 percent and 3.85 percent, Bank of East Asia (023) and Chong Hing Bank (1111) also rose by 4% Point on July 5 and 4.1 percent.
BOC Hong Kong has continued to rise, closing yesterday, the second angle of 20 yuan, up 2 percent, since the advent Since July, the cumulative increase of more than one into three, if the lowest 17 yuan a month, compared Pentagon, the cumulative increases as much as half a percent.
Managing Director of China Merchants Securities investment bank is satisfied that the warm days, the privatization of ICBC Asia, news, or the impact of BOC Hong Kong rose slightly, but the two lines are different in nature, the opportunities for privatization soon BOC Hong Kong is not high, because the relative size of ICBC BOC Hong Kong Asia is big, a lot of money to the privatization of the amount involved in the Mainland banks have the financing is to strengthen the capital adequacy ratio, Bank of China Bank of China will not rashly use of funds will be privatized. Meanwhile, the BOC brand in Hong Kong more independent, market share, as the Bank for International Development's flagship.
BOC Hong Kong has good stock performance, I believe that as the RMB clearing bank with its relevant, because the renminbi business potential. The Bank will inject the assets of the Bank of China or other arrangements, so that BOC RMB business in a greater scale of development, temperature and day is also satisfied that the listed companies as Bank of China, Bank of China can not be free to inject assets.
27.7 yuan per share, a price premium of material into the other two, many securities firms report that the privatization of ICBC ICBC Asia, the practice of appropriate, will be given greater synergies, estimated a price would be between ICBC Asia's closing transaction half times that range from a half times. Of which JP Morgan estimates that the bank or will be 27 yuan per share, seven corner to privatize ICBC Asia, equivalent to ICBC Asia market account rates twice more before the suspension ICBC Asia closing price of a two percent premium.
Mount pass that after the privatization of ICBC ICBC future should not worry when injected to maintain the liquidity of shares of ICBC Asia's problems; the same time, if the bank acquisitions of local financial institutions, to the merger compared with ICBC easily without fear of ICBC Asia's problems of minority shareholders.
ICBC rose plate privatization to stimulate the Deutsche Bank report noted that the privatization of ICBC ICBC Asia will make the latter have more room for growth and are not subject to restrictions on the lower level of capital ratios. ICBC is also beneficial in the RMB business with the huge growth opportunities. Report refers to "ICBC is interested to buy other banks in Hong Kong is the next logical problem."
ICBC Asia to be privatized by the news, the market fry concept of bank mergers and acquisitions, including Wing Hang up another 8.3 percent yesterday, two hexagonal close at 86 yuan, after the suspension from the ICBC, the cumulative increase in Wing Hang More than one-six. Dah Sing Bank (2356) and Dah Sing Financial (440) rose 5.92 percent and 3.85 percent, Bank of East Asia (023) and Chong Hing Bank (1111) also rose by 4% Point on July 5 and 4.1 percent.
BOC Hong Kong has continued to rise, closing yesterday, the second angle of 20 yuan, up 2 percent, since the advent Since July, the cumulative increase of more than one into three, if the lowest 17 yuan a month, compared Pentagon, the cumulative increases as much as half a percent.
Managing Director of China Merchants Securities investment bank is satisfied that the warm days, the privatization of ICBC Asia, news, or the impact of BOC Hong Kong rose slightly, but the two lines are different in nature, the opportunities for privatization soon BOC Hong Kong is not high, because the relative size of ICBC BOC Hong Kong Asia is big, a lot of money to the privatization of the amount involved in the Mainland banks have the financing is to strengthen the capital adequacy ratio, Bank of China Bank of China will not rashly use of funds will be privatized. Meanwhile, the BOC brand in Hong Kong more independent, market share, as the Bank for International Development's flagship.
BOC Hong Kong has good stock performance, I believe that as the RMB clearing bank with its relevant, because the renminbi business potential. The Bank will inject the assets of the Bank of China or other arrangements, so that BOC RMB business in a greater scale of development, temperature and day is also satisfied that the listed companies as Bank of China, Bank of China can not be free to inject assets.
27.7 yuan per share, a price premium of material into the other two, many securities firms report that the privatization of ICBC ICBC Asia, the practice of appropriate, will be given greater synergies, estimated a price would be between ICBC Asia's closing transaction half times that range from a half times. Of which JP Morgan estimates that the bank or will be 27 yuan per share, seven corner to privatize ICBC Asia, equivalent to ICBC Asia market account rates twice more before the suspension ICBC Asia closing price of a two percent premium.
Mount pass that after the privatization of ICBC ICBC future should not worry when injected to maintain the liquidity of shares of ICBC Asia's problems; the same time, if the bank acquisitions of local financial institutions, to the merger compared with ICBC easily without fear of ICBC Asia's problems of minority shareholders.
Bank stocks have become "Air Force pioneer"
August 2, China Everbright Bank road show started, as planned, it will be listed on the 18th of this month. Also a large cap to the market react? Late yesterday, the diving process, bank shares really become a "pioneer in the Air Force," the main force, and sell into corrections.
Success or failure will ABC ABC?
A stock bank shares has been the main nerve. Recently, the banking sector is "action" continues, Agricultural Bank of China listed China Construction Bank, Bank of China 10 billion allotment options have been granted, Everbright Bank of 20 billion IPO financing has been "imminent", which undoubtedly increased the banking stocks on the market effects.
At the close, the banking segment fell 2.41%, Huaxia Bank fell 3.68%, down 2.87% Bank of Beijing, China Merchants Bank, CITIC Bank, Industrial Bank, Shanghai Pudong Development Bank, the Bank recorded a decrease of more than 2.5%.
Agricultural Bank of much concern to the day the market fell 2.5 percent to 2.73 yuan, only 5 cents above the IPO price. Some analysts pointed out that the rally started the current round of agricultural bank, then the rally will probably be limited to the Agricultural Bank.
Everbright their pressure is not great, "Ta Kong IPO has been a main force to do more super sharp weapons, China Everbright Bank has come, super tape main pressure will take the first look," "ABC was the draw that much blood, EB Banks pumping again, the market how can I bear? "reporter yesterday saw it in more stocks, Everbright forthcoming, investors have some concern.
In response, an analyst at Industrial Securities Sales Department in Wuhan ZHOU Jing Yuan, said Everbright online issue IPO next Tuesday, large cap IPO pressure Approaching, China Everbright Bank although much lower than the Agricultural Bank of asset size, but on the capital market, this is a monster banks hungry for market share of funding has caused tremendous financial pressure on short-term investors need to be cautious.
Securities Institute of Great Britain and Lida Xiao believes that the listing of Everbright Bank study the impact of the market, to observe the market to attract foreign capital market financing rate of speed and ability to strike a balance, China Everbright Bank's listing should be enough to trigger a new round of fall, the market the bottom of the proven, pre-short position of absolute dominance that unilateral market will not reproduce, follow-up will enter the shock pattern of long and short contention.
Do not count on it to play new on August 2, China Everbright Bank began their first road show in Shenzhen. CICC in its report to the pricing of China Everbright Bank in 3.5 per -4 yuan. China Merchants Securities believes that China Everbright Bank to 2.65-3.02 dollars a reasonable price range.
Everbright Bank of Me and the new play it? Business analyst at Industrial Securities in Wuhan ZHOU Jing Yuan said, most difficult to lose money to make money is also difficult to copy the experience of playing the new ABC, investors do not have unrealistic expectations.
Success or failure will ABC ABC?
A stock bank shares has been the main nerve. Recently, the banking sector is "action" continues, Agricultural Bank of China listed China Construction Bank, Bank of China 10 billion allotment options have been granted, Everbright Bank of 20 billion IPO financing has been "imminent", which undoubtedly increased the banking stocks on the market effects.
At the close, the banking segment fell 2.41%, Huaxia Bank fell 3.68%, down 2.87% Bank of Beijing, China Merchants Bank, CITIC Bank, Industrial Bank, Shanghai Pudong Development Bank, the Bank recorded a decrease of more than 2.5%.
Agricultural Bank of much concern to the day the market fell 2.5 percent to 2.73 yuan, only 5 cents above the IPO price. Some analysts pointed out that the rally started the current round of agricultural bank, then the rally will probably be limited to the Agricultural Bank.
Everbright their pressure is not great, "Ta Kong IPO has been a main force to do more super sharp weapons, China Everbright Bank has come, super tape main pressure will take the first look," "ABC was the draw that much blood, EB Banks pumping again, the market how can I bear? "reporter yesterday saw it in more stocks, Everbright forthcoming, investors have some concern.
In response, an analyst at Industrial Securities Sales Department in Wuhan ZHOU Jing Yuan, said Everbright online issue IPO next Tuesday, large cap IPO pressure Approaching, China Everbright Bank although much lower than the Agricultural Bank of asset size, but on the capital market, this is a monster banks hungry for market share of funding has caused tremendous financial pressure on short-term investors need to be cautious.
Securities Institute of Great Britain and Lida Xiao believes that the listing of Everbright Bank study the impact of the market, to observe the market to attract foreign capital market financing rate of speed and ability to strike a balance, China Everbright Bank's listing should be enough to trigger a new round of fall, the market the bottom of the proven, pre-short position of absolute dominance that unilateral market will not reproduce, follow-up will enter the shock pattern of long and short contention.
Do not count on it to play new on August 2, China Everbright Bank began their first road show in Shenzhen. CICC in its report to the pricing of China Everbright Bank in 3.5 per -4 yuan. China Merchants Securities believes that China Everbright Bank to 2.65-3.02 dollars a reasonable price range.
Everbright Bank of Me and the new play it? Business analyst at Industrial Securities in Wuhan ZHOU Jing Yuan said, most difficult to lose money to make money is also difficult to copy the experience of playing the new ABC, investors do not have unrealistic expectations.
Industrial and Commercial Bank of China branch in Enshi strengthen the work of public deposits
ICBC branch in strengthening the forward-looking thinking in Enshi, and enhance active adaptability; opportunities to further strengthen the awareness and market awareness, the line departments must conscientiously sum up the work of the first half of the analysis, control systems, with the progress of industry and task to find the gap, to find a cause to six measures of the public deposits clear objectives, strong third quarter and full year to complete all tasks.
First, strengthen the goals, the responsibility to implement. ICBC branch in Hubei Province, issued by the Bank on public deposits incremental one billion yuan, is also planned for the rigid target to complete the letter, as of the date of the public deposits increased 434.49 million yuan over the beginning, this corporate customer centers to refine measures to quarterly to decompose the task into the line of the second half of the network, signed their target responsibility to complete the well to incentives, falling behind to work together to catch up on schedule.
Second, strengthen the incentives, the configuration cost. Provincial branches of the public deposits has been kept stable configuration costs associated with deposit growth, we must actively seek, on the stock of public deposits, maintenance costs to the Department of Finance and departments to measure network to ensure the momentum of public deposits in the work of organizations.
Third, strengthen marketing, lock focus. Branches requires special class of public deposits in the establishment of marketing, corporate customer centers are focused on return-line credit account payment, cash settlement of the Department are mainly financial, military, oil customer of poverty, more than 5 million yuan each line of the existing account management account manager every month to visit to understand customer needs, improve maintenance and marketing. President, in charge of President to personally keep an eye large, dug his line of high-quality customers, on the development zones, investment customer focus.
Fourth, strengthen compliance, personnel security. Full implementation of the corporate network client compliance projects, increase public deposits account manager target assessment, should the cost to the network resources to the special classes.
Fifth, strengthen the examination and increase accountability. Branch of the existing approach to revising and improving the accountability, continue to increase the accountability efforts, city and county lines, a city agency, second in command should be linked with performance accountability, pull through 2 consecutive quarters of top ranking last fall assessment line leadership in positions on the economic treatment of the accountability measures must be implemented; addition of the public deposits with the Bank leading performance-related, and law-off centers, individual performance-related financial department, dot top leaders, law off center, a payment linked to performance of the Department of 30% of wages, deputy in charge of network linked to 60%.
Sixth, strengthen the mechanism, do a good job team. Account manager with the end of the third quarter, according to regulations in place, there is no line account manager as soon as possible by the Human Resources Department is responsible for filled and fuck centers, small business centers can be part-time customer marketing manager, on the organ department staff to supernumerary added to the client management team.
First, strengthen the goals, the responsibility to implement. ICBC branch in Hubei Province, issued by the Bank on public deposits incremental one billion yuan, is also planned for the rigid target to complete the letter, as of the date of the public deposits increased 434.49 million yuan over the beginning, this corporate customer centers to refine measures to quarterly to decompose the task into the line of the second half of the network, signed their target responsibility to complete the well to incentives, falling behind to work together to catch up on schedule.
Second, strengthen the incentives, the configuration cost. Provincial branches of the public deposits has been kept stable configuration costs associated with deposit growth, we must actively seek, on the stock of public deposits, maintenance costs to the Department of Finance and departments to measure network to ensure the momentum of public deposits in the work of organizations.
Third, strengthen marketing, lock focus. Branches requires special class of public deposits in the establishment of marketing, corporate customer centers are focused on return-line credit account payment, cash settlement of the Department are mainly financial, military, oil customer of poverty, more than 5 million yuan each line of the existing account management account manager every month to visit to understand customer needs, improve maintenance and marketing. President, in charge of President to personally keep an eye large, dug his line of high-quality customers, on the development zones, investment customer focus.
Fourth, strengthen compliance, personnel security. Full implementation of the corporate network client compliance projects, increase public deposits account manager target assessment, should the cost to the network resources to the special classes.
Fifth, strengthen the examination and increase accountability. Branch of the existing approach to revising and improving the accountability, continue to increase the accountability efforts, city and county lines, a city agency, second in command should be linked with performance accountability, pull through 2 consecutive quarters of top ranking last fall assessment line leadership in positions on the economic treatment of the accountability measures must be implemented; addition of the public deposits with the Bank leading performance-related, and law-off centers, individual performance-related financial department, dot top leaders, law off center, a payment linked to performance of the Department of 30% of wages, deputy in charge of network linked to 60%.
Sixth, strengthen the mechanism, do a good job team. Account manager with the end of the third quarter, according to regulations in place, there is no line account manager as soon as possible by the Human Resources Department is responsible for filled and fuck centers, small business centers can be part-time customer marketing manager, on the organ department staff to supernumerary added to the client management team.
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