Wealth is not the number of their growth and decline, the people behind it and efforts to pay, opportunities and luck, and even the host team, etc., have become the decisive factor
Now the show in front of everyone, is "New Century Weekly," the third launch of the "Chinese sports rich list."
Uphold the established practice of the past two years, this list of considerations is the 2007 China (mainland) sports stars (including some coaches) of personal wealth status. Figures are for them in 2007, 2001, the pre-tax income estimates, including salary, bonus competition, advertising costs speak, business competition appearance, and so on.
Despite the Chinese people are no longer denied wealth, but the income of these sports, not always accurately calculated. For instance, commercial sponsorship or advertising fees speak, and sometimes is a commercial secret. At the same time, some people's income but also with the competent departments, brokerage firms into. Some people obviously are no longer to earn the money deposited in banks, but their investment income is also difficult to obtain a secret.
In view of this, the list provided to all the figures are not 100 percent accurate. However, our research team can assure you that this is a conservative estimation. In fact, the higher their income.
The 2003 consolidated list, we can truly understand the ups and downs of wealth is always the change in the growth and decline. For example, billiards boy Ding Junhui, 2005, to about 150 million income from the No. 44, 2006 will surge to 11 million yuan the first three, now, his position has dropped to 5 million yuan No. 17.
Wealth is not the number of their growth and decline, the people behind it and efforts to pay, opportunities and luck, and even the host team, etc., have become the decisive factor. This ordinary people, the same applies.
1 million yuan of annual income, "the Chinese sports rich list" the starting point. Of course, these are the millionaires created, and some have cost several million dollars, and these inputs into the country. Of course, that is the taxpayer's money. This shows that the sports system itself problematic. We do not ask them to make the money back to taxpayers, if they can convey the true spirit of sports for everyone, but also work Mo Dayan.
Olympic Games is about to open the new big screen. The quadrennial sports event humanity, but also a rare opportunity for Chinese athletes. We believe that next year the "Chinese sports rich list" because of the Olympics will change: official for the Olympic champion has the incentive to 1 million as a starting point. At the same time, Chinese athletes who have unique advantages of a number of small public projects, will have the opportunity to embark on the Olympic Games. Moreover, the Olympics for sports has brought more and greater opportunities.
We hope that the Olympic Games not only bring changes in the list, we also hope that the Olympic Games, Chinese sports as well as China, have brought changes.
Yao Ming (basketball) 250000000
Ad speak: Reebok, Coca-Cola, McDonald's, VISA card, China Unicom, apples, Rui Shihao Accor, or to the floor, the China Construction Bank
2005 revenue: 150 million ranking: 1
2006 revenue: 220 million ranking: 1
Liu Xiang (athletics) 6000-70000000
Main income: salary + bonus + commercial advertising
Ad speak: Nike, Coca-Cola, China Post's EMS, China Mobile, Erie, Lenovo Group, Cadillac, Amway, Ensenda floor
2005 revenue: 3100 to 33 million rank: 2
2006 revenues: 50 million ranking: 2
Guo Jingjing (diving) 15000000
Main income: salary + bonus + commercial advertising
Ad speak: Red earth, McDonald's, Erie, Fulin door, Danone biscuits
2005 revenue: 950-10000000 Rank: 4
2006 revenue: 6800000 ranking: 7
Yi Jianlian (basketball) 15000000
Main income: salary + bonus + commercial advertising
Ad speak: McDonald's, Erie
2005 revenue: 2000000 ranking: 35
2006 revenue: 4500000 ranking: 11
Lin Dan (badminton) 12000000
Main income: salary + bonus + commercial advertising
Ad speak: Pepsi, Erie 361 °
Jia Sidel, Sedrin, Federal Express
2005: Not ranked
2006 revenue: 1700000 ranking: 38
Sun Jihai (Football) 10000000
Main income: salary + bonus + commercial advertising
Ad speak: Brilliance Junjie, online games, Coca-Cola, NIKE
2005 revenue: 12700000 ranking: 3
2006 revenues: 10 million Rank: 4
Zheng Jie and Yan Zi (tennis) 10000000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE TCL
2005 revenue: 1.5 million (Yan Zi) Rank: 42
2006 revenue: 5000000 ranking: 10
Zhang Yining (table tennis) 8100000
Main income: salary + bonus + commercial advertising
Ad speak: Gold Lake, Danone biscuits, far eagle electric cars
2005 revenue: 4600000 ranking: 11
2006 revenue: 3600000 ranking: 16
Wang Zhizhi (basketball) 8100000
Main income: salary + bonus + commercial advertising
Ad speak: Water
2005: Not ranked
2006 revenues: 10 million ranking: 5
Liang Chong (Golf) 6500000
Main income: salary + bonus + commercial advertising
Ad speak: Ballantine, the Asian Tour money list
2005 revenue: 200 to 2.5 million Rank: 30
2006 revenue: 2200000 ranking: 26
Wang Nan (table tennis) 6500000
Main income: salary + bonus + commercial advertising
Ad speak: Gold Lake, Ping An Insurance (market share it), Aner music, Olympic Home Textiles
2005 revenue: 2600000 ranking: 28
2006 revenue: 1600000 ranking: 39
Xie Xingfang (badminton) 6300000
Main income: salary + bonus + commercial advertising
Ad speak: Pepsi, Erie, L'Oreal, 361 °
2005: Not ranked
2006 revenue: 1200000 ranking: 42
Bateer (basketball) 6000000
Main income: salary + bonus + commercial advertising
Ad speak: Anta, the three young ball, three ditch liquor
2005 revenue: 150 ~ 1800000 ranking: 39
2006 revenue: 150 ~ 1800000 ranking: 37
Shao Jiayi (Football) 6000000
Main income: salary + bonus + commercial advertising
Ad speak: Patriot gweat, NIKE
2005 revenue: 5400000 ranking: 8
2006 revenue: 6000000 ranking: 8
Wang Hao (table tennis) 5740000
Main income: salary + bonus + commercial advertising
Ad speak: Anta
2005: Not ranked
2006: Not ranked
Li Jinyu (Football) 5100000
Main income: salary + bonus + commercial advertising
Ad speak: Shandong Tianye real estate
2005 revenue: 3000000 ranking: 20
2006 revenue: 3500000 ranking: 17
Ding Junhui (billiards) 5000000
Main income: salary + bonus + commercial advertising
Ad speak: Star card, Mengniu
2005 revenue: 120 ~ 1500000 ranking: 44
2006 revenues: 11 million ranking: 3
Dong Fangzhuo (Football) 4800000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE
2005: Not ranked
2006 revenue: 4500000 ranking: 11
Zheng Zhi (Football) 4500000
Main income: salary + bonus + commercial advertising
Ad speak: Adidas
2005 revenue: 4300000 ranking: 14
2006 revenue: 4500000 ranking: 12
Sun Xiang (Football) 3500000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE
2005 revenue: 2700000 ranking: 27
2006 revenue: 3200000 ranking: 19
Cheng Congfu (car) 3100000
Main income: salary + bonus + commercial advertising
Ad speak: Patriot
2005: Not ranked
2006 revenue: 3000000 ranking: 21
Li Na (Tennis) 3100000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE, 100 Barrie Cook
2005 revenue: 2000000 ranking: 37
2006 revenue: 2200000 ranking: 25
Zhao Junzhe (Football) 3000000
Main income: salary + bonus + commercial advertising
Ad speak: Li Ning
2005 revenue: 1500000 ranking: 18
2006 revenue: 3000000 ranking: 20
Happy about 3 million
Main income: salary + bonus
2005: Not ranked
2006: Not ranked
Wang Liqin (table tennis) 2800000
Main income: salary + bonus + commercial advertising
Ad speak: Double Happiness
2005 revenue: 130 ~ 1500000 ranking: 43
2006 revenue: 4000000 ranking: 14
Li Nan (basketball) 2800000
Main income: salary + bonus + commercial advertising speak: LEI-speed
2005: Not ranked
2006 revenue: 1300000 ranking: 41
Xu Yunlong (Football) 2600000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE
2005 revenue: 2800000 ranking: 25
2006 revenue: 2000000 ranking: 22
Ma Lin (table tennis) 2500000
Main income: salary + bonus + commercial advertising
Ad speak: Coca-Cola, Yili, China Unicom, YASAKA
2005 revenue: 2900000 ranking: 22
2006 revenue: 2000000 ranking: 36
Xie Hui (Football) 2000000
Main income: salary + bonus + other
2005 revenue: 3700000 ranking: 16
2006 revenue: 1100000 ranking: 47
Ma Xiaoxu (Football) 2000000
Main income: salary + bonus + commercial advertising
Ad speak: Suzuki, Adidas
2005: Not ranked
2006 revenue: 1100000 ranking: 49
Dewey (soccer) 2000000
Main income: salary + bonus + commercial advertising
Ad speak: Nike
2005 revenue: Not ranked
2006 revenue: 2000000 ranking: 35
Liu Guoliang (table tennis) 2000000
Main income: salary + bonus + commercial advertising
Ad speak: Jianlibao, Samsung, 000 Jielong
2005: Not ranked
2006 revenue: 1100000 ranking: 50
Chen Zhong and (volleyball) 2000000
Main income: salary + bonus + commercial advertising
Ad speak: Huiquan beer,贵人bird costumes, southeast car
2005 revenue: 2000000 ranking: 36
2006 revenue: 2000000 ranking: 32
Jiang Xingquan (basketball) 2000000
Main income: salary + bonus
2005: Not ranked
2006 revenue: 1200000 ranking: 43
Hao Junmin (Football) 2000000
Main income: salary + bonus + commercial advertising
Ad speak: NIKE
2005: Not ranked
2006 revenue: 2000000 ranking: 34
Peng Shuai (Tennis) 1500000
Main income: salary + bonus + commercial advertising
Ad speak: Nike, Virgin wins, Sony Ericsson, etc.
2005 revenue: 250 to 3 million Rank: 23
2006 revenue: 2000000 ranking: 31
Zhou Haibin (Football) 1500000
Main income: salary + bonus
2005: Not ranked
2006 revenue: 2000000 ranking: 33
Wang Fei (basketball) 1500000
Main income: salary + bonus
2005: Not ranked
2006 revenue: 1100000 ranking: 46
Shen Xue and Zhao Hongbo (skating)
About 1.5 million
Main income: salary + bonus + commercial advertising
Ad speak: GE, VISA, Lenovo
2005 revenue: 100 to 1.5 million Rank: 45
2006 revenue: 2100000 ranking: 28
Li Yizhong (Football) 150 million
Main income: salary + bonus + commercial advertising
Salary + bonuses: 1000000
Ad speak: GE, VISA, Lenovo
2005 revenue: 3000000 ranking: 21
2006 revenue: 1500000 ranking: 40
Liu Wei (basketball) 130 million
Main income: salary + bonus + commercial advertising
Ad speak: Reebok
2005 revenue: 100-1200000 ranking: 47
2006 revenue: 100 to 1.2 million Rank: 45
Wang Dong (Football) 120 million
Main income: salary + bonus
2005: Not ranked
2006: Not ranked
Du Zhenyu (Football) 100 million
Main income: salary + bonus
2005: Not ranked
2006: Not ranked
Zhou Suhong (volleyball) 1000000
Main income: salary + bonus + commercial advertising
Ad speak: South East Motor, Jinlong Yu
2005 revenue: 100-1200000 ranking: 46
2006 revenue: 100-1200000 ranking: 44
Teng Haibin (gymnastics) 1000000
Main income: salary + bonus + commercial advertising
Ad speak: Coca-Cola, Li Ning, Samsung
2005: Not ranked
2006 revenue: 1100000 ranking: 48
Source: New Century Weekly
2008-07-28
Bank of China took the strategic Chaodi HFM 30 percent stake in hedge funds
Bank of China in the global capital market remains volatile time, a few days ago already "cover of Chencang", through its acquisition of the British subsidiary of the Swiss hedge fund HeritageFundManagementSA Company (HFM) about 30% of the shares. Yesterday, reporters from the Bank of China spokesman Wang Zhaowen, and HFM current CEO, the company confirmed the news. Wang Zhaowen said the release of the matter in a few days later, it can not disclose details. Subsequently reporter contact the British branch of the Bank of China, but as of filing time has yet to acquire specific details about the news.
HFM management of six Super 300 million fund assets
It is understood, HFM is a focus on the Asian market investment fund companies, in 2006 by BanqueHeritage and senior managers JacquesMechelany co-founder. It is Geneva, a Swiss private bank - Heritage Bank, a subsidiary. HFM Mechaleny current holders of 70 percent stake in Bank of China (Great Britain) holds 30 percent. Under the agreement, the Bank of China will share holdings to 70 percent, he will retain 30 percent shares.
On the nature of the transaction, the Swiss Federal Banking Commission spokesman TobiasLux said that the deal will be regarded as a British company, rather than by Chinese companies. He said that the Bank of China currently does not hold a Swiss asset management companies more than 10 percent of the shares.
According to the Chinese Centre for hedge funds (ChinaHedge) website reported that, HFM manages six funds, assets of more than 300 million euros (about 400 million 71 million U.S. dollars). HFM's some funds in the first half of 2008 suffered a major loss, HFM's 788 Fund is a typical Chinese. The beginning of May this year the fund lost 48.8 percent, while in 2007 the fund rate of return of 114.8 percent. Japanese business fluctuations in small companies, 788 funds in Japan fell 15.6 percent this year, the 2007 rate of return of 16.5%.
The development of the strategic nature of Chaodi
Haitong Securities financial analyst Fankun Cheung that the acquisition of Bank of China is "Chaodi" move: "Comparison of recent financial market turmoil, the company's performance decline, the Bank of China may feel that the acquisition of a good time to, but I personally think that this is not a good time , When the loan-to-bottom that do not know anyone. "
In response, Southwest University of Finance and Economics Research Center of China's financial Pan I-that the so-called "Chaodi" can contain two meanings, one is a speculative purpose Chaodi, that is, buy low sell high and another is the development of strategic significance with the Chaodi, The Bank of China as a major commercial banks, the acquisition of more inclined to this, mainly hopes to introduce market-based risk management professionals, institutions, take control of the main market risk hedging instruments and derivatives.
Fankun Cheung also said the Bank of China will be the subject of acquisition value management experience and network and client resources and further improve their own wealth management in the management level.
At present the Bank of China 70.79 percent stake in the holding, its foreign shareholders include Royal Bank of Scotland (RBS). RBS, through its subsidiaries RBSChinaInvestments a 8.25 percent stake. Singapore Temasek sovereign wealth funds held 4.13 percent of shares, holders of 1.33% UBS shares.
China's Banking new attempt
Jiedao "hedge fund" investment, China's banking sector is still a precedent.
Hedge funds originated in the 1950s the United States, in general, the private investment institutions to make use of futures, options and other financial derivative products and the associated different stocks to buy air space sales, risk hedging skills to benefit from such an operation.
"Investment Bank through the hedge fund to investment, which is very common in foreign countries, such as Credit Suisse First Boston, their hedge funds are doing well," Pan seats, said, "as domestic banks, through the acquisition of the way This expansion of business in a certain sense is progress. "
Pan-I further analyzed that ordinary commercial banks in the market risk management level, a large number of financial instruments need to hedge risk and need to draw on the experience of hedge funds, or use a similar approach to risk management, and also need to introduce talented people, methods of mechanism. Bank of China through the acquisition of the shares will be entitled to the appropriate personnel and institutions.
News
Hedge funds in the end how much risk
Hedge funds in China was the view of the experts "great risk", "Shuitubufu", the development time is not right.
Speaking of hedge funds market risk, Pan-I explained that the strict sense, the hedge fund itself is set up to control the risk. It through basic tools, derivatives, futures, options, and other ways, different financial instruments structure of the interrelationship between each other hedge risk. "Hedge funds simply to hedge way to do investment, the risk will not be too great," Pan seats, said, "If the operator, and flexible management, risk hedging is basically, the net position, or risk their own little net exposure."
Pan-I pointed out that the reason why hedge funds in the West exposed high-risk, mainly in the hedge risks from its original meaning of this, a shift to speculative transactions. "Paris was done because of bank failure is a speculative transactions," said Pan Long seats.
For HFM in the Asian market this year by some of the loss, Pan I-Long pointed out that if the strict sense of hedge funds, in the face of such changes in the market, generally have corresponding basic strategy, a tool prices, must have Corresponding to the tool to allow prices to rise, in order to achieve a balance.
Source: Daily Economic News
HFM management of six Super 300 million fund assets
It is understood, HFM is a focus on the Asian market investment fund companies, in 2006 by BanqueHeritage and senior managers JacquesMechelany co-founder. It is Geneva, a Swiss private bank - Heritage Bank, a subsidiary. HFM Mechaleny current holders of 70 percent stake in Bank of China (Great Britain) holds 30 percent. Under the agreement, the Bank of China will share holdings to 70 percent, he will retain 30 percent shares.
On the nature of the transaction, the Swiss Federal Banking Commission spokesman TobiasLux said that the deal will be regarded as a British company, rather than by Chinese companies. He said that the Bank of China currently does not hold a Swiss asset management companies more than 10 percent of the shares.
According to the Chinese Centre for hedge funds (ChinaHedge) website reported that, HFM manages six funds, assets of more than 300 million euros (about 400 million 71 million U.S. dollars). HFM's some funds in the first half of 2008 suffered a major loss, HFM's 788 Fund is a typical Chinese. The beginning of May this year the fund lost 48.8 percent, while in 2007 the fund rate of return of 114.8 percent. Japanese business fluctuations in small companies, 788 funds in Japan fell 15.6 percent this year, the 2007 rate of return of 16.5%.
The development of the strategic nature of Chaodi
Haitong Securities financial analyst Fankun Cheung that the acquisition of Bank of China is "Chaodi" move: "Comparison of recent financial market turmoil, the company's performance decline, the Bank of China may feel that the acquisition of a good time to, but I personally think that this is not a good time , When the loan-to-bottom that do not know anyone. "
In response, Southwest University of Finance and Economics Research Center of China's financial Pan I-that the so-called "Chaodi" can contain two meanings, one is a speculative purpose Chaodi, that is, buy low sell high and another is the development of strategic significance with the Chaodi, The Bank of China as a major commercial banks, the acquisition of more inclined to this, mainly hopes to introduce market-based risk management professionals, institutions, take control of the main market risk hedging instruments and derivatives.
Fankun Cheung also said the Bank of China will be the subject of acquisition value management experience and network and client resources and further improve their own wealth management in the management level.
At present the Bank of China 70.79 percent stake in the holding, its foreign shareholders include Royal Bank of Scotland (RBS). RBS, through its subsidiaries RBSChinaInvestments a 8.25 percent stake. Singapore Temasek sovereign wealth funds held 4.13 percent of shares, holders of 1.33% UBS shares.
China's Banking new attempt
Jiedao "hedge fund" investment, China's banking sector is still a precedent.
Hedge funds originated in the 1950s the United States, in general, the private investment institutions to make use of futures, options and other financial derivative products and the associated different stocks to buy air space sales, risk hedging skills to benefit from such an operation.
"Investment Bank through the hedge fund to investment, which is very common in foreign countries, such as Credit Suisse First Boston, their hedge funds are doing well," Pan seats, said, "as domestic banks, through the acquisition of the way This expansion of business in a certain sense is progress. "
Pan-I further analyzed that ordinary commercial banks in the market risk management level, a large number of financial instruments need to hedge risk and need to draw on the experience of hedge funds, or use a similar approach to risk management, and also need to introduce talented people, methods of mechanism. Bank of China through the acquisition of the shares will be entitled to the appropriate personnel and institutions.
News
Hedge funds in the end how much risk
Hedge funds in China was the view of the experts "great risk", "Shuitubufu", the development time is not right.
Speaking of hedge funds market risk, Pan-I explained that the strict sense, the hedge fund itself is set up to control the risk. It through basic tools, derivatives, futures, options, and other ways, different financial instruments structure of the interrelationship between each other hedge risk. "Hedge funds simply to hedge way to do investment, the risk will not be too great," Pan seats, said, "If the operator, and flexible management, risk hedging is basically, the net position, or risk their own little net exposure."
Pan-I pointed out that the reason why hedge funds in the West exposed high-risk, mainly in the hedge risks from its original meaning of this, a shift to speculative transactions. "Paris was done because of bank failure is a speculative transactions," said Pan Long seats.
For HFM in the Asian market this year by some of the loss, Pan I-Long pointed out that if the strict sense of hedge funds, in the face of such changes in the market, generally have corresponding basic strategy, a tool prices, must have Corresponding to the tool to allow prices to rise, in order to achieve a balance.
Source: Daily Economic News
2008-07-27
Chinese stocks led Hong Kong stocks sharply lower
Wall Street Thursday sharp pullback, the Asia-Pacific region all the stock market lower Friday, by this drag, Hong Kong stocks sharply lower Friday after a repeated shocks, the Hang Seng Index fell below 23,000 points, led by Chinese stocks were the main force.
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
Chinese martial arts star Bruce Lee died of the mystery was finally untied
Chinese martial arts star Bruce Lee after the death of 33 U.S. medical experts finally untied Yingnian He died mystery. According to the experts pointed out that the cause of death was reported that Bruce Lee is sensitive to drug caused brain swelling and death, the judgement is wrong.
The efforts of the legitimate prime heavenly kings, the real cause of death was lack of sleep and too much pressure induced by the "sudden epilepsy," This is a 22 after after his death the medical profession found that the new disease.
Bruce Lee on July 20, 1973 after the mysterious death rumors Man Tianfei, the actress has said that he Dingpei home use aphrodisiacs and sudden death, said he was refusing to pay protection fees by the Hong Kong triad murder.
At that time, the report said the official cause of death: He is a pain medicine equigesic extremely sensitive, leading to the day after the medication fatal brain swelling.
Celebrity death of the mystery, always soliciting explore the topic, such as U.S. President Kennedy, singer Elvis Paper at the Shi-li, as well as kung fu star Bruce Lee, and so on.
Chicago Department of medical experts Kam Feierjinsi post-mortem on the death of Bruce Lee for many years, has finally made the above conclusion.
Feierjinsi said that the study found that for many years, Bruce Lee died of a special epilepsy, and the medical profession in 1995 found that the disease. He analysis, post-mortem report showed that Lee has no physical trauma, in addition to marijuana, in no injuries » As for the residual pain medicine equigesic, very little weight, should also not fatal.
The disease each year in the United Kingdom claimed the lives of 500 people, generally in the age of 20 to 40-year-old man who was their prime. In the United States, the overall mortality rate of 7-17 percent due to epilepsy is caused by one of refractory epilepsy patients died, half due to emergencies caused by epilepsy. The EU estimates there are 4,000 people a year die of sudden epilepsy.
The efforts of the legitimate prime heavenly kings, the real cause of death was lack of sleep and too much pressure induced by the "sudden epilepsy," This is a 22 after after his death the medical profession found that the new disease.
Bruce Lee on July 20, 1973 after the mysterious death rumors Man Tianfei, the actress has said that he Dingpei home use aphrodisiacs and sudden death, said he was refusing to pay protection fees by the Hong Kong triad murder.
At that time, the report said the official cause of death: He is a pain medicine equigesic extremely sensitive, leading to the day after the medication fatal brain swelling.
Celebrity death of the mystery, always soliciting explore the topic, such as U.S. President Kennedy, singer Elvis Paper at the Shi-li, as well as kung fu star Bruce Lee, and so on.
Chicago Department of medical experts Kam Feierjinsi post-mortem on the death of Bruce Lee for many years, has finally made the above conclusion.
Feierjinsi said that the study found that for many years, Bruce Lee died of a special epilepsy, and the medical profession in 1995 found that the disease. He analysis, post-mortem report showed that Lee has no physical trauma, in addition to marijuana, in no injuries » As for the residual pain medicine equigesic, very little weight, should also not fatal.
The disease each year in the United Kingdom claimed the lives of 500 people, generally in the age of 20 to 40-year-old man who was their prime. In the United States, the overall mortality rate of 7-17 percent due to epilepsy is caused by one of refractory epilepsy patients died, half due to emergencies caused by epilepsy. The EU estimates there are 4,000 people a year die of sudden epilepsy.
2008-07-25
Chinese stocks led Hong Kong stocks sharply lower
Wall Street Thursday sharp pullback, the Asia-Pacific region all the stock market lower Friday, by this drag, Hong Kong stocks sharply lower Friday after a repeated shocks, the Hang Seng Index fell below 23,000 points, led by Chinese stocks were the main force.
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
The Hang Seng Index closed at 22,741 points, down 347 points, or 1.5 percent; China Enterprises Index closed at 12,422 points, down 336 points, or 2.63 percent. The market turnover of 61.4 billion Hong Kong dollar.
DBS is expected of Li Yongliang, if the U.S. market no longer reported on credit crisis of bad news, stock prices after the adjustment will regain their recent gains. He predicted that the index may be short-term re-test 24000-25000 points. If more weak market sentiment, the stock index may test the strong support of 21800-22000 points region.
Source: China Securities Network
2008-07-24
To control the cost of oil will be cut more than 80,000 people
After a reporter from Beijing to Yu Chun
Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts
According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.
In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "
These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.
In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.
PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.
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Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts
According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.
In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "
These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.
In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.
PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.
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2008-07-23
China's youngest billionaire inventory (AP)
High fuel, and would like to Dai Zhikang Li was born in 1981, Mao Kankan, born in 1983.
Diyitongjin rise of software inventions
Born in the same computer age than the Dai Zhikang Li would like to contact the computer as early as two years, primary grade 5. Dai is the father of the Daqing Petroleum Institute Bodao. Under the guidance of his father, he obsessed by computer programming. - Reading the first two days, on the market with rising anti-virus software. After pondering, found that the wearing of which the technical flaws.
Admitted to the Harbin Engineering University, Dai Zhikang Xiang Zhaodian thing to do, laying the foundation for the future development of the cause. One day, very occasionally, to wear to a film forum, has found that there are 100,000 registered users. He would like to: If there is one of the software, in a community forum for a server garments, light on a user brought 100,000 people, 100 is 10 million, 1000 is 100 million, this is geometry-class model of development. Dai decided to engage in such software, to be named Discuz. After more than a year, because the software used to support users, Internet users to quickly accepted. Done two years later, he unexpectedly received a Hong Kong company's remuneration, this find that their work can translate into real value. He is preparing to commercial products.
In early 2004, Dai Huaichuai earn the Diyitongjin, went to Beijing from Harbin. He first spent Qibashiwan bought apartments to office, began to register their Hong Sing, at this time, he was still in college students. As of 2005, company sales were up 50 percent.
Li bubble to the end of 2005 net revenue of 20 million, 50% percent of profits, according to the prevailing market acquisition standards, that is 20 times the price-earnings ratio to calculate, the shares of the company he is, net worth has Guoyi. In July last year, Dai Zhikang have received wind of the vote for several million U.S. dollars, net worth has been a billion. Mao is in a high and just start-up phase.
Billion in assets to give up a college entrance examination
May 21, Ding Hao Zhongguancun Computer City. Li, the company would like to open the interval between each desk capacity only one passed, the people are sitting busy.
After the bubbles to expand the scale of network this year, the number of people from less than 50 to 80, to 100 people, more than 110 people, is expected to reach the end of the year 180. 700 square meters of space has been unable to accommodate the company's development also needs to pay attention to the business image of the stage.
Lee would like the bubble is a network engaged in computer hardware, personal and office digital products of the information service website. Six years ago, a middle school in Shijiazhuang Dugao San Lee did not want to do too much planning for the future, only a simple decision: not to participate in college entrance examination.
Lee would like to first contact in the first day the computer and immediately with the fans. To a high, Lee would like to finally have their own computers, spent more than 8,000 pieces, and is in accordance with their own requirements of the configuration of a machine saved. At that time, only dial-up Internet access, Lee would like to have a monthly fee for Internet Qi Babai block, the flowers are my own money. This money is to the computer professional writing in the newspaper's Gao Fei.
Third year, Li Xiang Gao, "House of cards" of the site, spend 7-8 hours a day, Gu Bushang courses. Not after reading the first month, a Guangdong to give the boss said Lee would like to send promotional fees, he did not really, really sent the results of the other more than 6,000 yuan.
He was not a good idea of how to conduct the business of the operation site. The end of the year, he earned 100,000.
2000 Spring Festival, Li graduated from university would like to persuade workers to Shenzhen three months after the Fanzheng back to Shijiazhuang, the site of two people together, set up bubble net. The end of 2003, bubble up a network of business three times.
A message germination of the ideas
Before 2005, four of the youngest Mao Kankan has not been idle, from the initial red flag Chinese companies in 2000, subsequent to the "energy and disruption." The switch is a series of deliberate and dirty as he had干过technology, sales, management, packaging and promotion work. As Shoukuai, he was responsible for the work usually completed earlier than others.
Majoy entrepreneurial ideas from Mao, a mission received messages: Sichuan Mobile Communications Welcomes You! This many people would receive the SMS, so that if he suddenly think of the traditional online games or computer games moved to single reality , Mobile phone or PDA, such as mobile terminals and the background of various forms of communication technology integration, not to create a more real number of live games Mody »
Back to Beijing, Mao, one by one recognized by the advisory, research, he moved to the reality that will be online games venues, live from the role played by large number of mobile terminals (PDA and mobile phones) and e-props, to control the game is a Is based on traditional forms of entertainment and traditional entertainment forms of innovative models.
From the newspaper into the IT sector Da Tianxia
1998, burning a half year high in a factory in Dongguan Zhangmutou wage, then he is graduating from secondary school. Half a year later, he admitted to Qinghua University, the village folks have moved to comment: "High fuel the future when the central committee can certainly!" In 2003, Yinciyangcuo, high fuel missed the South Newspaper Group's final round of interviews Later in his "Economic Observer reported" done a financial journalist, was also named best new newspaper reporter.
Eight months after a career, University of Finance, IT know nothing about the high fuel Zongshen to the IT sector venture. Is the network of networks in the Tsinghua alumni, to help him now integrated into the company a sum of U.S. venture capital investment. All of a sudden on the value of the company tens of millions.
Later, the burning of high life in "the most important贵人" emerged. Jiangsu Far East Group Chairman Jiang Xipei, attended a meeting in Changchun, Jianzhao the train station one night to plan the delivery of high combustion. Jiang Xipei to vote for the high fuel 1000000, e-commerce high fuel did not plan to burn this input to a Suoyi Ran. He began to choose some other projects, then the students of Tsinghua Dundee pondering a P2P streaming media transmission technology applications, allowing a live broadcast of a video film cost 7 yuan from the money fell to 7 cents, in February 2005 two people Come together in June to merge their respective companies, professionals do live video Mysee was born.
After the money "sooner or later to buy a Hummer"
Lee himself would like to set the annual salary is 150,000, the average monthly recipients. A room, car, he basically no major expenses. Clothes that are bought to buy several brands. And Dai Zhikang as early as 2004 there is an iron gray BMW 3 Series. Dai said he decided to buy big things quickly, for example, to那套160-square-meter room, in June 2004, that launched the first week after purchase, spent over 100 million. He has three years of no dividend, although to set their own monthly salary is 20,000, but have never been fixed. Mao Kankan do not want the car, he bought his 2002 Sail has half-price premium, is now open the company's Nissan car. He said the wages of 8,000 yuan a month, to buy gifts for his girlfriend, following two days the two Chidun pizza into the moonlight on the Family. "I do not like cars." It just exports, high fuel and Dunleyixia, "But I like the Hummer, sooner or later to buy one."
Diyitongjin rise of software inventions
Born in the same computer age than the Dai Zhikang Li would like to contact the computer as early as two years, primary grade 5. Dai is the father of the Daqing Petroleum Institute Bodao. Under the guidance of his father, he obsessed by computer programming. - Reading the first two days, on the market with rising anti-virus software. After pondering, found that the wearing of which the technical flaws.
Admitted to the Harbin Engineering University, Dai Zhikang Xiang Zhaodian thing to do, laying the foundation for the future development of the cause. One day, very occasionally, to wear to a film forum, has found that there are 100,000 registered users. He would like to: If there is one of the software, in a community forum for a server garments, light on a user brought 100,000 people, 100 is 10 million, 1000 is 100 million, this is geometry-class model of development. Dai decided to engage in such software, to be named Discuz. After more than a year, because the software used to support users, Internet users to quickly accepted. Done two years later, he unexpectedly received a Hong Kong company's remuneration, this find that their work can translate into real value. He is preparing to commercial products.
In early 2004, Dai Huaichuai earn the Diyitongjin, went to Beijing from Harbin. He first spent Qibashiwan bought apartments to office, began to register their Hong Sing, at this time, he was still in college students. As of 2005, company sales were up 50 percent.
Li bubble to the end of 2005 net revenue of 20 million, 50% percent of profits, according to the prevailing market acquisition standards, that is 20 times the price-earnings ratio to calculate, the shares of the company he is, net worth has Guoyi. In July last year, Dai Zhikang have received wind of the vote for several million U.S. dollars, net worth has been a billion. Mao is in a high and just start-up phase.
Billion in assets to give up a college entrance examination
May 21, Ding Hao Zhongguancun Computer City. Li, the company would like to open the interval between each desk capacity only one passed, the people are sitting busy.
After the bubbles to expand the scale of network this year, the number of people from less than 50 to 80, to 100 people, more than 110 people, is expected to reach the end of the year 180. 700 square meters of space has been unable to accommodate the company's development also needs to pay attention to the business image of the stage.
Lee would like the bubble is a network engaged in computer hardware, personal and office digital products of the information service website. Six years ago, a middle school in Shijiazhuang Dugao San Lee did not want to do too much planning for the future, only a simple decision: not to participate in college entrance examination.
Lee would like to first contact in the first day the computer and immediately with the fans. To a high, Lee would like to finally have their own computers, spent more than 8,000 pieces, and is in accordance with their own requirements of the configuration of a machine saved. At that time, only dial-up Internet access, Lee would like to have a monthly fee for Internet Qi Babai block, the flowers are my own money. This money is to the computer professional writing in the newspaper's Gao Fei.
Third year, Li Xiang Gao, "House of cards" of the site, spend 7-8 hours a day, Gu Bushang courses. Not after reading the first month, a Guangdong to give the boss said Lee would like to send promotional fees, he did not really, really sent the results of the other more than 6,000 yuan.
He was not a good idea of how to conduct the business of the operation site. The end of the year, he earned 100,000.
2000 Spring Festival, Li graduated from university would like to persuade workers to Shenzhen three months after the Fanzheng back to Shijiazhuang, the site of two people together, set up bubble net. The end of 2003, bubble up a network of business three times.
A message germination of the ideas
Before 2005, four of the youngest Mao Kankan has not been idle, from the initial red flag Chinese companies in 2000, subsequent to the "energy and disruption." The switch is a series of deliberate and dirty as he had干过technology, sales, management, packaging and promotion work. As Shoukuai, he was responsible for the work usually completed earlier than others.
Majoy entrepreneurial ideas from Mao, a mission received messages: Sichuan Mobile Communications Welcomes You! This many people would receive the SMS, so that if he suddenly think of the traditional online games or computer games moved to single reality , Mobile phone or PDA, such as mobile terminals and the background of various forms of communication technology integration, not to create a more real number of live games Mody »
Back to Beijing, Mao, one by one recognized by the advisory, research, he moved to the reality that will be online games venues, live from the role played by large number of mobile terminals (PDA and mobile phones) and e-props, to control the game is a Is based on traditional forms of entertainment and traditional entertainment forms of innovative models.
From the newspaper into the IT sector Da Tianxia
1998, burning a half year high in a factory in Dongguan Zhangmutou wage, then he is graduating from secondary school. Half a year later, he admitted to Qinghua University, the village folks have moved to comment: "High fuel the future when the central committee can certainly!" In 2003, Yinciyangcuo, high fuel missed the South Newspaper Group's final round of interviews Later in his "Economic Observer reported" done a financial journalist, was also named best new newspaper reporter.
Eight months after a career, University of Finance, IT know nothing about the high fuel Zongshen to the IT sector venture. Is the network of networks in the Tsinghua alumni, to help him now integrated into the company a sum of U.S. venture capital investment. All of a sudden on the value of the company tens of millions.
Later, the burning of high life in "the most important贵人" emerged. Jiangsu Far East Group Chairman Jiang Xipei, attended a meeting in Changchun, Jianzhao the train station one night to plan the delivery of high combustion. Jiang Xipei to vote for the high fuel 1000000, e-commerce high fuel did not plan to burn this input to a Suoyi Ran. He began to choose some other projects, then the students of Tsinghua Dundee pondering a P2P streaming media transmission technology applications, allowing a live broadcast of a video film cost 7 yuan from the money fell to 7 cents, in February 2005 two people Come together in June to merge their respective companies, professionals do live video Mysee was born.
After the money "sooner or later to buy a Hummer"
Lee himself would like to set the annual salary is 150,000, the average monthly recipients. A room, car, he basically no major expenses. Clothes that are bought to buy several brands. And Dai Zhikang as early as 2004 there is an iron gray BMW 3 Series. Dai said he decided to buy big things quickly, for example, to那套160-square-meter room, in June 2004, that launched the first week after purchase, spent over 100 million. He has three years of no dividend, although to set their own monthly salary is 20,000, but have never been fixed. Mao Kankan do not want the car, he bought his 2002 Sail has half-price premium, is now open the company's Nissan car. He said the wages of 8,000 yuan a month, to buy gifts for his girlfriend, following two days the two Chidun pizza into the moonlight on the Family. "I do not like cars." It just exports, high fuel and Dunleyixia, "But I like the Hummer, sooner or later to buy one."
2008-07-21
Fu was Mao You! China's rich list of enterprises
Graphic: TOP1
China Petrochemical: in 2007 the world's top 500 ranking 17
The main industry: oil refining
2007 turnover at: 131.636 billion U.S. dollars
Profile:
China Petroleum and Chemical Corporation (hereinafter referred to as "Sinopec") is a middle and lower reaches of the integration, oil, petrochemical main highlight, with a more complete sales network, inside and outside the listed joint-stock enterprises. Is China's largest integrated energy and chemical company, mainly engaged in oil and gas exploration and development, exploitation, pipeline transport and sale of oil refining, petrochemical, chemical fibers, chemical fertilizers and other chemical production and product sales, storage and transport, petroleum, Natural gas, petroleum products, petrochemical and other chemical products and other goods, technology import and export, import and export business agent; technology, information research, development and application.
Sinopec is China's largest petroleum products (including gasoline, diesel, aviation kerosene, etc.) and major petrochemical products (including synthetic resin, synthetic fiber monomers and polymers, synthetic fibers, synthetic rubber, fertilizers, and intermediate petrochemical products) producers and Suppliers, is also China's second largest crude oil producer.
Graphic: TOP2
China's petroleum and natural gas: in 2007 the world's top 500 ranking 24
The main industry: oil refining
2007 turnover at: 110.52 billion U.S. dollars
Profile:
China National Petroleum Corporation (China Petroleum Group) is a set of oil and gas and oil equipment manufacturing an integrated energy company. Xue Lan »0-largest oil company was ranked No. 7.
China Petroleum Group for the community to provide a day more than 2.19 million barrels of crude oil and 2.8 billion cubic feet of natural gas, processing 1.8 million barrels of crude oil. In 2006, China Petroleum Group to expand oil and gas investment operations in 26 countries worldwide.
Graphic: TOP3
National Grid: in 2007 the world's top 500 ranking 29
The main industry: power
2007 turnover at: 107.185 billion U.S. dollars
Profile:
State Grid Corporation was established in December 29, 2002, to build power grid operator for the core business, to bear the economic and social development and provide strong protection of the basic mission of electricity. Regional operating companies covering 26 provinces, autonomous regions and municipalities, covering a land area of more than 88%, direct services, 145 million, power supply more than 1 billion population, management staff 1.504 million people, nearly 290,000 retired people.
In 2006 the company sold 1.71 trillion kwh of electricity, the main business income of 852.9 billion yuan, with total assets of 1.2141 trillion yuan, assets and liabilities of 60.43 percent. 2005 income from principal operations ranked "Fortune" magazine in 2006 the global top 500 enterprises section 32.
Graphic: TOP4
China Southern Power Grid: in 2007 the world's top 500 ranking 237
The main industry: power
2007 turnover at: 27.966 billion U.S. dollars
Profile:
China Southern Power Grid Co., Ltd. in the December 29, 2002 was set up and start formal operation. The operating range of Guangdong, Guangxi, Yunnan, Guizhou and Hainan, in charge of investment, construction and management Southern Power Grid. Xia Zhu's Southern Power Grid Company covering five provinces and autonomous regions, covering 1 million square kilometers, the total population of 230 million power supply; 2005 GDP total 3.2748 trillion yuan, the maximum electricity consumption load society as a whole 69.6 million kilowatts, the whole society consumption 434700000000 Kilowatt-hour.
At present the company's assets total 277.9 billion yuan, the total number of employees 166,000 people. 2005, the company among the global top 500 enterprises, listed 316; ranking in 2006 increased by 50, 266 out.
Graphic: TOP5
COFCO: in 2007 the world's top 500 ranking 405
The main industry: trade
2007 turnover at: 17.953 billion U.S. dollars
Profile:
COFCO Limited is China's largest Cereals, Oils and Foodstuffs Import and Export Company and the strength of food production, food grain and oil market of international standing in public life and are closely related to agricultural trade, the development of biomass energy, food production and processing, real estate, property, Hotel management, and financial services, and other fields made outstanding achievements.
Since 1994, COFCO has been ranked the "Fortune" Global 500 enterprises. COFCO has more than 50 years of experience in international trade, China's food grain and oil markets with the international market among the most important bridges, wheat, corn, rice, sugar and other staple agricultural imports and exports as the main channel.
Graphic: TOP6
China Minmetals Group: 2007 the world's top 500 ranking 435
The main industry: trade
2007 turnover at: 16.902 billion U.S. dollars
Profile:
China Minmetals Corporation, established in 1950, on the condition ⒖ Peng sudden Pan-chi to the satisfaction of passers-by Cynoglossus Biyi quail glaze »real estate, freight, tender, project contracting and investment operations, Implementation of transnational operations of large enterprise groups. China Minmetals Corporation has globalized marketing network in the country 20 provinces, autonomous regions, has a 168 wholly-owned or joint ventures, holding shares and 14 domestic listed companies, holding Hong Kong "Minmetals resources" and "building Minmetals" Two red chips listed company, the world's major countries and regions with 44 overseas companies.
1992, the State Council, China Minmetals Corporation was identified as the first batch of 55 pilot enterprise groups and seven state-owned asset management units authorized one. In 1999, China Minmetals Corporation are included in the central management of the 44 key state enterprises. 2006, the company operating the total amount of 18.9 billion U.S. dollars in China's largest 500 companies listed in ranked No. 13. In the United States "Fortune" magazine published in 2007 the world's top 500 enterprises, China Minmetals No. 435.
Graphic: TOP7
China National Offshore Oil Corporation: 2007 the world's top 500 ranking 469
The main industry: oil refining
2007 turnover at: 16.038 billion U.S. dollars
Profile:
China National Offshore Oil Corporation is China's largest oil company one of the country, responsible for foreign cooperation in offshore China oil and gas exploitation of marine resources, is China's largest offshore oil and gas producers. Founded in 1982, the registered capital of 94.9 billion yuan, is headquartered in Beijing, the existing employees 44,000 people.
2006 full year, the company achieved sales of 132.4 billion yuan, total profit, 49 billion yuan and turned over to the oil taxes and fees and retained a total of 32.1 billion yuan and total assets reached 250.7 billion yuan, 137.1 billion yuan of net assets. In 2006 ranking of the central enterprises, the China Sea oil profits total ranked four, with total assets ranked 11, the cost of margins ranked two. Corporation and affiliated companies was again granted the Standard & Poor's and Moody's A-and A2-level credit ratings, continue to maintain domestic enterprises, the highest rating.
Graphic: TOP8
China Ocean Shipping Corporation: 2007 the world's top 500 ranking 488
The main industry: Shipping
2007 turnover at: 15.413 billion U.S. dollars
Profile:
China Ocean Shipping (Group) Corporation, the predecessor, was established in April 27, 1961 of the China Ocean Shipping Company. February 16, 1993 to set up the China Ocean Shipping (Group) Corporation as its core business of the China Ocean Shipping Group. After several generations of COSCO people over 40 years of arduous pioneering, rely on the wisdom, diligence and good faith, with glory and dream, the COSCO Group has been established at the beginning of the four ships, 22,600 dwt single-shipping company, has developed into today And operates more than 600 modern merchant shipping fleet »more than 500 million dwt, in cargo volume over 300 million tons of integrated multinational groups.
As a shipping and logistics industry as the core of the main global Enterprise Group, COSCO in the world have Jinqian Jia member units, eight more than 10,000 employees. In mainland China, COSCO Group located in Guangzhou, Shanghai, Tianjin, Qingdao, Dalian, Xiamen, Hong Kong and other places, a wholly-owned shipping company management of containers, bulk, special transportation and oil tankers and other types of ocean shipping fleet; overseas, Japan, Korea, Singapore, North America, Europe, Australia, South Africa and West Asia region for radiation-8 percent, to shipping routes as a link, forming the world's major regions across the transnational network. Those with "COSCO" eye-catching signs of ships and containers in the world more than 160 countries and regions over 1300 ports from the shuttle.
Source: in the on-line
2008-07-20
China's Li Ka-10 Hupanwangwei others do Jiayi
"Superman" Li Ka-shing seems to be shipped this year, the shares of poor. This week (16) overweight 5 million shares of Cheung Kong (00001, HK), Li Ka-shing has bought more than 10 times its own stock. However, it is regretted that the Cheung Kong's two major institutional shareholders, Deutsche Bank and JP Morgan Chase they are invariably choose the "Superman" under the cover of the reduction of dispersal. Along with the Cheung Kong shares fell, Li Ka-shing holdings this year, 10 times the carrying amount Fukui has been more than 54 million Hong Kong dollar.
10 overweight book Fukui 54000000
HKEx rights and interests of disclosure of information, Cheung Kong Chairman Li Ka-shing to buy 5 million shares this week three Cheung Kong Holdings, the shareholding ratio increased to 40.22%, the share price of 103.10 Hong Kong dollar holdings. According to "Daily News" statistics, since April 11, Li Ka-shing has spent 10 of the 573.8 million Hong Kong dollar bought 495.3 million shares of Cheung Kong Holdings. The average purchase price per share to 115.84 Hong Kong dollar, compared Cheung Kong Hong Kong dollar on yesterday's closing price of 104.9 higher than 10.43 percent. In other words, Li Ka-shing holdings of shares this year have been carrying Fukui 54186000 Hong Kong dollar.
From the Li Ka-shing to the interests of the HKEx to the disclosure of information can be seen, with Cheung Kong shares fell below 110 Hong Kong dollar juncture, "Superman" the pace has slowed down overweight trend.
In May 30 the same day, Li Ka-shing Hong Kong dollar to 119.90 a share, eating into 228.30 million shares, Cheung Kong, involving a total of 274 million Hong Kong dollar funds, this is also the largest holdings this year. Cheung Kong Holdings in the subsequent June 27 Hong Kong dollar fell below 110, Li Ka-shing holdings of each stock from the end of June fell to 50 million shares on July 9 and July 10 of 39.90 million shares and 27 million shares, In July 15 and July 16 respectively, were also reduced to 2 million and 5 million shares.
Institutional shareholders fled the opportunity
"Superman" the intention is obviously overweight, if not stimulate the shares rose, but at least it also hopes to maintain the confidence of investors. However, Cheung Kong's two major institutional shareholders do not seem to appreciate.
Access to Information, JP Morgan Chase on July 8 a reduction of 254.38 million shares of Cheung Kong Holdings, in accordance with its disclosure of the reduction of the price of 103.47 Hong Kong dollar, JP Morgan Chase cash in a 263 million Hong Kong dollar, from 5.1 percent stake reduced to 4.98 percent. JP Morgan Chase re-enter the market unless the holdings more than 5%, or even if the clearing and we can not know.
Compared with JP Morgan Chase, Deutsche Bank on the "take" more clean. In this year on March 19, Deutsche Bank held 5.99 percent of Cheung Kong Holdings, in the May 16 fell to 5.93 percent, while Li Ka-shing started Admission holdings in Cheung Kong, Deutsche Bank suddenly on June 2 will be holding A substantial proportion reduced to 1.99 percent.
Coincidentally, news of the President to stimulate overweight, Cheung Kong in June before actually going out wave rally. To June 2 closing price, Cheung Kong since March 18 lows rose 18.6 percent.
Superman riding the wrong rhythm »
Hong Kong stocks should be concerned about the people will not forget the success of last year, Li Superman top defectors. In October last year, in November, the Hang Seng Index at the highest level in history, Jiliuyongtui Li Ka-shing, has funded a large scale sell-off in shipping stocks and airline stocks. September 25, 2007 to November 30, Li Ka-shing points, dished out 10 China Southern Airlines (01055, HK) H shares, from 16.51 percent stake in all the way down to 0.85 percent. From November 2007, Li Ka-shing began frequent reduction of the China Ocean (01919, HK) and China Shipping Cargo (02866, HK) H shares.
According to statistics, since the end of September 2007, Li Ka-shing through the reduction of China Southern Airlines and China Ocean and the Sea Cargo, a total of more than 9 billion cash in the Hong Kong dollar. Among them, the China Ocean is Li Ka-year cumulative reduction of the maximum amount of shares, through November 1 start of the reduction of six times, from 5.167 billion Hong Kong dollar cash. Cargo from the sea in the November 2 at the beginning of four consecutive reduction of the Li Ka-shing directly generating approximately 2.404 billion Hong Kong dollar cash. After the ship in the Li Ka-shing, Hong Kong stocks was also peaked, and subsequently the market trend is that the "Superman" unique perspective.
In addition to selling on or Lee Superman there is a rose on the ability to buy. In June 2007 to July, Li Ka-shing to about 103.45 per share price of the Hong Kong dollar bought 650 million shares of Cheung Kong, and in time of three months after the Cheung Kong rose by 46 percent.
However, this time accompanied by increased holdings of shares it is the action of the stock all the way down, but also the way "cover" out of the institutional investors, Li Ka-shing Is this really riding the wrong rhythm »
The optimists believe that there must be a result of Superman shots. To yesterday's close, the Hong Kong property stocks have a 36 percent discount to net asset value, well below the historical average of 16 percent. Merrill Lynch real estate analyst KeithYeung that the supply of new flats in Hong Kong this year, less than 10,000 units, coupled with the third quarter, more than was gradually introduced a new focus, the Hong Kong property stocks expected to rally back in the fourth quarter.
However, First Shanghai Securities Ye Shangzhi to the "Daily News" said that the Hong Kong property sales growth in the rest of the year may slow down in the second half of Hong Kong property stocks fell in the first half of at least 10 percent. According to past experience, the stock market peaked in the six months, the property market will be significantly adjusted, the stock peaked in November last year, then the property market adjustment should be just beginning.
10 overweight book Fukui 54000000
HKEx rights and interests of disclosure of information, Cheung Kong Chairman Li Ka-shing to buy 5 million shares this week three Cheung Kong Holdings, the shareholding ratio increased to 40.22%, the share price of 103.10 Hong Kong dollar holdings. According to "Daily News" statistics, since April 11, Li Ka-shing has spent 10 of the 573.8 million Hong Kong dollar bought 495.3 million shares of Cheung Kong Holdings. The average purchase price per share to 115.84 Hong Kong dollar, compared Cheung Kong Hong Kong dollar on yesterday's closing price of 104.9 higher than 10.43 percent. In other words, Li Ka-shing holdings of shares this year have been carrying Fukui 54186000 Hong Kong dollar.
From the Li Ka-shing to the interests of the HKEx to the disclosure of information can be seen, with Cheung Kong shares fell below 110 Hong Kong dollar juncture, "Superman" the pace has slowed down overweight trend.
In May 30 the same day, Li Ka-shing Hong Kong dollar to 119.90 a share, eating into 228.30 million shares, Cheung Kong, involving a total of 274 million Hong Kong dollar funds, this is also the largest holdings this year. Cheung Kong Holdings in the subsequent June 27 Hong Kong dollar fell below 110, Li Ka-shing holdings of each stock from the end of June fell to 50 million shares on July 9 and July 10 of 39.90 million shares and 27 million shares, In July 15 and July 16 respectively, were also reduced to 2 million and 5 million shares.
Institutional shareholders fled the opportunity
"Superman" the intention is obviously overweight, if not stimulate the shares rose, but at least it also hopes to maintain the confidence of investors. However, Cheung Kong's two major institutional shareholders do not seem to appreciate.
Access to Information, JP Morgan Chase on July 8 a reduction of 254.38 million shares of Cheung Kong Holdings, in accordance with its disclosure of the reduction of the price of 103.47 Hong Kong dollar, JP Morgan Chase cash in a 263 million Hong Kong dollar, from 5.1 percent stake reduced to 4.98 percent. JP Morgan Chase re-enter the market unless the holdings more than 5%, or even if the clearing and we can not know.
Compared with JP Morgan Chase, Deutsche Bank on the "take" more clean. In this year on March 19, Deutsche Bank held 5.99 percent of Cheung Kong Holdings, in the May 16 fell to 5.93 percent, while Li Ka-shing started Admission holdings in Cheung Kong, Deutsche Bank suddenly on June 2 will be holding A substantial proportion reduced to 1.99 percent.
Coincidentally, news of the President to stimulate overweight, Cheung Kong in June before actually going out wave rally. To June 2 closing price, Cheung Kong since March 18 lows rose 18.6 percent.
Superman riding the wrong rhythm »
Hong Kong stocks should be concerned about the people will not forget the success of last year, Li Superman top defectors. In October last year, in November, the Hang Seng Index at the highest level in history, Jiliuyongtui Li Ka-shing, has funded a large scale sell-off in shipping stocks and airline stocks. September 25, 2007 to November 30, Li Ka-shing points, dished out 10 China Southern Airlines (01055, HK) H shares, from 16.51 percent stake in all the way down to 0.85 percent. From November 2007, Li Ka-shing began frequent reduction of the China Ocean (01919, HK) and China Shipping Cargo (02866, HK) H shares.
According to statistics, since the end of September 2007, Li Ka-shing through the reduction of China Southern Airlines and China Ocean and the Sea Cargo, a total of more than 9 billion cash in the Hong Kong dollar. Among them, the China Ocean is Li Ka-year cumulative reduction of the maximum amount of shares, through November 1 start of the reduction of six times, from 5.167 billion Hong Kong dollar cash. Cargo from the sea in the November 2 at the beginning of four consecutive reduction of the Li Ka-shing directly generating approximately 2.404 billion Hong Kong dollar cash. After the ship in the Li Ka-shing, Hong Kong stocks was also peaked, and subsequently the market trend is that the "Superman" unique perspective.
In addition to selling on or Lee Superman there is a rose on the ability to buy. In June 2007 to July, Li Ka-shing to about 103.45 per share price of the Hong Kong dollar bought 650 million shares of Cheung Kong, and in time of three months after the Cheung Kong rose by 46 percent.
However, this time accompanied by increased holdings of shares it is the action of the stock all the way down, but also the way "cover" out of the institutional investors, Li Ka-shing Is this really riding the wrong rhythm »
The optimists believe that there must be a result of Superman shots. To yesterday's close, the Hong Kong property stocks have a 36 percent discount to net asset value, well below the historical average of 16 percent. Merrill Lynch real estate analyst KeithYeung that the supply of new flats in Hong Kong this year, less than 10,000 units, coupled with the third quarter, more than was gradually introduced a new focus, the Hong Kong property stocks expected to rally back in the fourth quarter.
However, First Shanghai Securities Ye Shangzhi to the "Daily News" said that the Hong Kong property sales growth in the rest of the year may slow down in the second half of Hong Kong property stocks fell in the first half of at least 10 percent. According to past experience, the stock market peaked in the six months, the property market will be significantly adjusted, the stock peaked in November last year, then the property market adjustment should be just beginning.
The China Securities Regulatory Commission response to the current stock market five hot issues
Yesterday, the China Securities Regulatory Commission in charge of relevant departments said that the SFC to grasp the rhythm of new shares issued will take into account all views. At the same time, the stock fund positions has declined, to a large extent is due to the market value of fund shares led the decline, the day-to-day monitoring found no presence "Zapan" and other illegal acts. The person in charge said that the futures and financing Rongquan, such as the GEM and there is no timetable for innovation, but the preparation work is still going on. For Li Li electronic problems, the SFC has also asked relevant agencies and relevant departments to carry out verification. Size initiative on a number of non-extension of the lock period, the above-mentioned persons responded that this was "a lock to climb 2" on the basis of the shareholders to make arrangements for the lock period, the market is the conduct of its own choice.
To grasp the rhythm of new shares issued will take into account all views
The market of public opinion - the weakness in the market situation, the issue of new shares should be reduced, and strictly controls the refinancing of listed companies.
SFC responsible officials of relevant departments, said: "SFC to grasp the rhythm of new shares issued will take into account all views."
Root, from January to June this year, A shares of the IPO financing of 94 billion yuan, a year earlier to 136.3 billion yuan this year, financing for less than 70 percent of the same period last year. Public offering of 100 million shares over the market shares, issued from January to June last year, 11, funding 126.747 billion yuan, issued the same period this year only four, fund-raising 64.319 billion yuan, the issue of home financing for the same period last year and were down by 64% and 49 %.
When the financing aspect of the binding role in the secondary market will become more pronounced. January to June this year, the SFC approved the 88 companies refinancing, of which only 69 companies completed the refinancing, raising funds become available, while 19 companies had been approved get approval, but also approved by the approval of six months The period of waiting for the issuance of the window. For additional targeted to be implemented, because the secondary market fell more, we should also consider whether the reserve price adjustment issue. Above that, "This shows that the secondary market on the refinancing of listed companies is very strong binding."
"After years of reform and development, listed companies and financing the secondary market more closely, the movements of the secondary market financing bound by very real strengthened." Apart from the aforementioned refinancing market to a sharp bound, with the overall market this year Point-and price-earnings ratio of the decline, IPO enterprise sector companies with stock prices down, making the frame of reference of new shares issued decreased. Pricing has been issued from the results of the company, the SFC before the window guidance - such as small and medium-sized plate 30 times the issue price-earnings ratio - this year in real terms has been bound by the market mechanism to replace the standard form of pricing, the buyer and the seller has the mentality of the new shares Issue more fully in part reflected. At the same time, the first day of listing of new shares or indeed compared with the same period last year dropped more, issuers, underwriters and Request object in the IPO pricing also became more cautious.
The official stressed that the current Commission is also exploring ways to further deepen the reform issue, and further play the role of market mechanisms and give full play to the market in resource allocation in the role, and strive to promote the smooth development of the market.
Comments: June 22, the China Securities Regulatory Commission Chairman Shang Fulin said, to "adhere to market-oriented, reasonable balance between market supply and demand, orderly adjustment financing rhythm." Ultimately, the market boom cycle on the issue of binding effect is the last word. Do not forget that the 2005 to 2007 the average price-earnings ratio of new shares issued from 20.4 times to 28.2 times, representing an increase of 38 percent over the same period the secondary market average price-earnings ratio from 24.2 times all the way up to a maximum of 69.6 times, increases 127%, a lot of money hoarding in a new market, the public opinion that returnees were too low proportion of shares issued. Also not forget that in 2006 the market has also experienced Air break the embarrassing situation.
Stock value shrank found no impact on fund positions, such as illegal phenomenon Zapan
The market of public opinion - as the market weakness, the Fund's shares continue to drop positions, funds and other institutions should strengthen the supervision of, and advocate the value of investments.
SFC responsible officials of relevant departments, said: "This year, the stock fund positions has declined, to a large extent is due to the market value of fund shares led the decline."
The parties highly concerned about the market shares of the fund positions of the decline, the SFC responsible officials of relevant departments said that this year since the partial shares of the Fund's equity positions have indeed dropped, but many people ignored the stock market decline led to a decline in the positions Factors.
The analysis, even if a fund is not sold, when the index fell lead to changes in market value of shareholdings, as the Fund's portfolio in bonds and cash do not change, the Fund's equity positions will decline for the performance.
Regulatory departments of the Fund of the day-to-day monitoring shows that the recent fund companies were found between the Fund and other agencies or between each other Zapan, and other illegal acts, the fund investment ratio and stock positions also are in line with the contractual agreement.
These people said, regulators will continue to pay great attention to the future fund investment transactions, the existence of such illegal acts will be punished according to law. In addition, will also continue to urge the fund management companies establish a sound business sense, better fulfill its fiduciary duty to fund investors to provide better banking services.
"Fund as a capital market institutional investors, their investment behavior affected by many factors, including the Fund's own risk and return characteristics of style, the trend of the market, the fund manager's investment philosophy as well as their economic development and macro-control of the judgement And so on. As for open-end fund, the fund's purchase of the Fund to redeem the situation will have a direct impact on investment behavior. "The people believe that the above sense, the fluctuations in the market, fund management companies as a trustee of the property The administrator of the fund positions and adjust to the sale of shares of the decision-making, should be the norm.
Comments: The fund day-to-day transactions in recent years, the SFC and the Stock Exchange of trust in banks have been set up real-time monitoring mechanisms, focus on whether there is abnormal fund transactions, the proportion of positions, whether the required percentage of shareholding. Fund of further improvement, not only depends on the regulatory departments of supervision and guidance, also depends on market structure and function of further improved, more fund companies really depends on a "entrusted by the people, the generation financial management" concept.
Rongquan view that there is no timetable for the launch GEM
The market of public opinion - is the launch stock index futures, financing and the GEM Rongquan a good time.
SFC responsible officials of relevant departments, said: "(the innovation) has done a lot of pre-preparation work, but as soon as possible launch of the restricted number of factors. There was no specific timetable, but has been carrying out preparatory work."
The official stressed that the SFC has always attached importance to financial innovation and the promotion of institutional innovation, product innovation, the market system innovation, system innovation, the SFC has been the focus of the work. Promote the view that, financing and the GEM Rongquan, such as innovation, to examine their own system of readiness, technology readiness, risk assessment, improve the level of risk-control mechanism - "a very good thing, in preparation for improper arrangement of The launch will be a lot of problems. "
Similarly, "a good thing if the timing is not immediately launched, there are problems." The people that, in addition to the relevant decision-making mechanisms and decision-making procedures, the larger changes in the market environment this year, the international and domestic situation of China's economic impact on the formation of More uncertain factors. "These new situation, the need for careful assessment, when the introduction of the innovation, there is no specific timetable, but has been carrying out preparatory work."
Comments: June 20, Shang Fulin, in an exclusive interview with this newspaper pointed out, "To strengthen market infrastructure and institutional building a consistent manner on the strategic level, to resolve the institutional development of the market, the mechanism of the problem and improve the operation of the market The efficiency and overall competitiveness. "It should be said that the SFC to promote the system, the attitude of product innovation, is unwavering.
Li Li is the electronic verification issues
The market of public opinion - Li Li electronic exposed prior to listing the existing problems, and regulatory departments should be strict verification.
SFC responsible officials of relevant departments, said: "The media queries, the SFC has asked the relevant bodies and relevant departments to verify, in fact, the media questioned the issue of the SFC review of the IPO process, has been to focus on. Against the market Response, the Commission has once again its verification, verification is still in progress. "
It is learned that early in March this year, the legislature will introduce legislation on electronic ago, has its pre-disclosure of the company's assets, operations, personnel relations fully disclosed. SFC review process, also asked relevant agencies and parties issued a written opinion, and on June 18 published in detail in the prospectus for the disclosure. "Legislation by the legislature triggered by the electronic issuance of new shares the concern of the audit, in fact, the SFC has been the focus of attention. Legislature of the legislation in electronic, pre-disclosure to the SFC to further improve the system, from the second half of this year , We will advance to the pre-disclosure of the SFC feedback response phase, to strengthen all aspects of market constraints, strengthen the relevant audit. "
The official stressed that the SFC has been actively promoting the reform of the system of new shares issued: First of all, trying to play a more intermediary role. Improve the system as a sponsor, the sponsor institutions and increase the responsibility of the sponsor representative to the due diligence and internal control play a role. The SFC issued in the Department level, the disclosure of pre-launch system, increase transparency and restraint. At the same time, Fashen Wei from the beginning of the end of 2003 to reform, transparency and resolve pending issues of concern to some. In the rear part of the issue, pricing of the market-oriented reforms. But "the ultimate stock can be bought, or the investors to make their own judgement."
Comments: SFC Chairman Shang Fulin pointed out that the issuance monitoring system of direct financing system is the most important component of one of the sponsor system, Fashen Wei system, Request system constitutes a regulatory issue at this stage the basis of the system. SFC in recent years gradually push forward reform of the three systems, the ability of the sponsors, pricing power, the processing capacity and various kinds of intermediary institutions and comprehensively enhance the level of practice on the basis of issuing He Zhunzhi from the transition to the registration system方才with the conditions.
It must be pointed out that in the sponsor system in the course of the operation, the SFC has three sponsors of the agencies, 17 representative to the sponsors in a certain period of time will not be accepted or not accepted the recommendation issued by their listing applications, such as conversation reminded Regulatory measures.
Lock-size extended period of market behavior
The market of public opinion - some the size of the company offered to delay the reduction of non-measures, supervision and management departments should be encouraged.
SFC official said the relevant departments: the size of non-extension of lock-in "a lock to climb 2" on the basis of the shareholders to make arrangements for the lock period, the market is the conduct of its own choice.
"Strictly speaking, the size of the non-locked short period of good or good, depending on a listed company and its shareholders the specific case may be, there is no fixed standards." The people that in the course of the SFC shares changed based on the prevailing market Situation "a lock to climb the" requirement, some companies on the basis of this to make additional commitments, some shareholders of the company spent locked after the initiative to extend the lock period, "are made based on their own judgement, are the market Of the act. "
Comments: recent initiative to extend the size of the non-lock period of the motive, more of the parties. Regardless of their motivation, it is an independent shareholders, regulators did not give value judgement, but the bottom line for the corresponding clear that the size of the non-lock period only limit - "a lock to climb 2", there is no upper limit.
To grasp the rhythm of new shares issued will take into account all views
The market of public opinion - the weakness in the market situation, the issue of new shares should be reduced, and strictly controls the refinancing of listed companies.
SFC responsible officials of relevant departments, said: "SFC to grasp the rhythm of new shares issued will take into account all views."
Root, from January to June this year, A shares of the IPO financing of 94 billion yuan, a year earlier to 136.3 billion yuan this year, financing for less than 70 percent of the same period last year. Public offering of 100 million shares over the market shares, issued from January to June last year, 11, funding 126.747 billion yuan, issued the same period this year only four, fund-raising 64.319 billion yuan, the issue of home financing for the same period last year and were down by 64% and 49 %.
When the financing aspect of the binding role in the secondary market will become more pronounced. January to June this year, the SFC approved the 88 companies refinancing, of which only 69 companies completed the refinancing, raising funds become available, while 19 companies had been approved get approval, but also approved by the approval of six months The period of waiting for the issuance of the window. For additional targeted to be implemented, because the secondary market fell more, we should also consider whether the reserve price adjustment issue. Above that, "This shows that the secondary market on the refinancing of listed companies is very strong binding."
"After years of reform and development, listed companies and financing the secondary market more closely, the movements of the secondary market financing bound by very real strengthened." Apart from the aforementioned refinancing market to a sharp bound, with the overall market this year Point-and price-earnings ratio of the decline, IPO enterprise sector companies with stock prices down, making the frame of reference of new shares issued decreased. Pricing has been issued from the results of the company, the SFC before the window guidance - such as small and medium-sized plate 30 times the issue price-earnings ratio - this year in real terms has been bound by the market mechanism to replace the standard form of pricing, the buyer and the seller has the mentality of the new shares Issue more fully in part reflected. At the same time, the first day of listing of new shares or indeed compared with the same period last year dropped more, issuers, underwriters and Request object in the IPO pricing also became more cautious.
The official stressed that the current Commission is also exploring ways to further deepen the reform issue, and further play the role of market mechanisms and give full play to the market in resource allocation in the role, and strive to promote the smooth development of the market.
Comments: June 22, the China Securities Regulatory Commission Chairman Shang Fulin said, to "adhere to market-oriented, reasonable balance between market supply and demand, orderly adjustment financing rhythm." Ultimately, the market boom cycle on the issue of binding effect is the last word. Do not forget that the 2005 to 2007 the average price-earnings ratio of new shares issued from 20.4 times to 28.2 times, representing an increase of 38 percent over the same period the secondary market average price-earnings ratio from 24.2 times all the way up to a maximum of 69.6 times, increases 127%, a lot of money hoarding in a new market, the public opinion that returnees were too low proportion of shares issued. Also not forget that in 2006 the market has also experienced Air break the embarrassing situation.
Stock value shrank found no impact on fund positions, such as illegal phenomenon Zapan
The market of public opinion - as the market weakness, the Fund's shares continue to drop positions, funds and other institutions should strengthen the supervision of, and advocate the value of investments.
SFC responsible officials of relevant departments, said: "This year, the stock fund positions has declined, to a large extent is due to the market value of fund shares led the decline."
The parties highly concerned about the market shares of the fund positions of the decline, the SFC responsible officials of relevant departments said that this year since the partial shares of the Fund's equity positions have indeed dropped, but many people ignored the stock market decline led to a decline in the positions Factors.
The analysis, even if a fund is not sold, when the index fell lead to changes in market value of shareholdings, as the Fund's portfolio in bonds and cash do not change, the Fund's equity positions will decline for the performance.
Regulatory departments of the Fund of the day-to-day monitoring shows that the recent fund companies were found between the Fund and other agencies or between each other Zapan, and other illegal acts, the fund investment ratio and stock positions also are in line with the contractual agreement.
These people said, regulators will continue to pay great attention to the future fund investment transactions, the existence of such illegal acts will be punished according to law. In addition, will also continue to urge the fund management companies establish a sound business sense, better fulfill its fiduciary duty to fund investors to provide better banking services.
"Fund as a capital market institutional investors, their investment behavior affected by many factors, including the Fund's own risk and return characteristics of style, the trend of the market, the fund manager's investment philosophy as well as their economic development and macro-control of the judgement And so on. As for open-end fund, the fund's purchase of the Fund to redeem the situation will have a direct impact on investment behavior. "The people believe that the above sense, the fluctuations in the market, fund management companies as a trustee of the property The administrator of the fund positions and adjust to the sale of shares of the decision-making, should be the norm.
Comments: The fund day-to-day transactions in recent years, the SFC and the Stock Exchange of trust in banks have been set up real-time monitoring mechanisms, focus on whether there is abnormal fund transactions, the proportion of positions, whether the required percentage of shareholding. Fund of further improvement, not only depends on the regulatory departments of supervision and guidance, also depends on market structure and function of further improved, more fund companies really depends on a "entrusted by the people, the generation financial management" concept.
Rongquan view that there is no timetable for the launch GEM
The market of public opinion - is the launch stock index futures, financing and the GEM Rongquan a good time.
SFC responsible officials of relevant departments, said: "(the innovation) has done a lot of pre-preparation work, but as soon as possible launch of the restricted number of factors. There was no specific timetable, but has been carrying out preparatory work."
The official stressed that the SFC has always attached importance to financial innovation and the promotion of institutional innovation, product innovation, the market system innovation, system innovation, the SFC has been the focus of the work. Promote the view that, financing and the GEM Rongquan, such as innovation, to examine their own system of readiness, technology readiness, risk assessment, improve the level of risk-control mechanism - "a very good thing, in preparation for improper arrangement of The launch will be a lot of problems. "
Similarly, "a good thing if the timing is not immediately launched, there are problems." The people that, in addition to the relevant decision-making mechanisms and decision-making procedures, the larger changes in the market environment this year, the international and domestic situation of China's economic impact on the formation of More uncertain factors. "These new situation, the need for careful assessment, when the introduction of the innovation, there is no specific timetable, but has been carrying out preparatory work."
Comments: June 20, Shang Fulin, in an exclusive interview with this newspaper pointed out, "To strengthen market infrastructure and institutional building a consistent manner on the strategic level, to resolve the institutional development of the market, the mechanism of the problem and improve the operation of the market The efficiency and overall competitiveness. "It should be said that the SFC to promote the system, the attitude of product innovation, is unwavering.
Li Li is the electronic verification issues
The market of public opinion - Li Li electronic exposed prior to listing the existing problems, and regulatory departments should be strict verification.
SFC responsible officials of relevant departments, said: "The media queries, the SFC has asked the relevant bodies and relevant departments to verify, in fact, the media questioned the issue of the SFC review of the IPO process, has been to focus on. Against the market Response, the Commission has once again its verification, verification is still in progress. "
It is learned that early in March this year, the legislature will introduce legislation on electronic ago, has its pre-disclosure of the company's assets, operations, personnel relations fully disclosed. SFC review process, also asked relevant agencies and parties issued a written opinion, and on June 18 published in detail in the prospectus for the disclosure. "Legislation by the legislature triggered by the electronic issuance of new shares the concern of the audit, in fact, the SFC has been the focus of attention. Legislature of the legislation in electronic, pre-disclosure to the SFC to further improve the system, from the second half of this year , We will advance to the pre-disclosure of the SFC feedback response phase, to strengthen all aspects of market constraints, strengthen the relevant audit. "
The official stressed that the SFC has been actively promoting the reform of the system of new shares issued: First of all, trying to play a more intermediary role. Improve the system as a sponsor, the sponsor institutions and increase the responsibility of the sponsor representative to the due diligence and internal control play a role. The SFC issued in the Department level, the disclosure of pre-launch system, increase transparency and restraint. At the same time, Fashen Wei from the beginning of the end of 2003 to reform, transparency and resolve pending issues of concern to some. In the rear part of the issue, pricing of the market-oriented reforms. But "the ultimate stock can be bought, or the investors to make their own judgement."
Comments: SFC Chairman Shang Fulin pointed out that the issuance monitoring system of direct financing system is the most important component of one of the sponsor system, Fashen Wei system, Request system constitutes a regulatory issue at this stage the basis of the system. SFC in recent years gradually push forward reform of the three systems, the ability of the sponsors, pricing power, the processing capacity and various kinds of intermediary institutions and comprehensively enhance the level of practice on the basis of issuing He Zhunzhi from the transition to the registration system方才with the conditions.
It must be pointed out that in the sponsor system in the course of the operation, the SFC has three sponsors of the agencies, 17 representative to the sponsors in a certain period of time will not be accepted or not accepted the recommendation issued by their listing applications, such as conversation reminded Regulatory measures.
Lock-size extended period of market behavior
The market of public opinion - some the size of the company offered to delay the reduction of non-measures, supervision and management departments should be encouraged.
SFC official said the relevant departments: the size of non-extension of lock-in "a lock to climb 2" on the basis of the shareholders to make arrangements for the lock period, the market is the conduct of its own choice.
"Strictly speaking, the size of the non-locked short period of good or good, depending on a listed company and its shareholders the specific case may be, there is no fixed standards." The people that in the course of the SFC shares changed based on the prevailing market Situation "a lock to climb the" requirement, some companies on the basis of this to make additional commitments, some shareholders of the company spent locked after the initiative to extend the lock period, "are made based on their own judgement, are the market Of the act. "
Comments: recent initiative to extend the size of the non-lock period of the motive, more of the parties. Regardless of their motivation, it is an independent shareholders, regulators did not give value judgement, but the bottom line for the corresponding clear that the size of the non-lock period only limit - "a lock to climb 2", there is no upper limit.
Revelation of the oil in the divestment of coal transport network is the fuse for conflict
Huaxia Times
Divestment of oil in the coal behind: not for its own pipeline used deviated from the original intention for coalbed methane explosion is an independent mining licence
In the increasingly popular field of coal bed methane, China Petroleum (601,857) and Natural Gas Corporation (the oil) with China Coal Group of Companies (hereinafter referred to in the coal) from once a close partner, to be transformed into a strong competitor.
12 years ago, relying on the former oil and gas resources in the field of technology and the development of the latter in the field of mine Shuren, the two national enterprises in accordance with the investment ratio of 50:50, set up in the common coal bed methane limited liability company (hereinafter referred to in the Coal), in the oil and thereafter will be held assets into listed companies.
"Now two shareholders on the reorganization began, in the hope that the oil out of the coal." July 15, general manager of China United Coal Sun Mao Yuan told reporters: "Shareholders should be asked, after the reorganization, I get an interview."
Multi-understand our reporter was informed that the request to withdraw from the oil Yiranjueran in the coal, coal bed methane fields in addition to hope单打独斗, in its coal and coalbed methane in the transport network is also in dispute, the transport network conflict Can be counted as the two sides separated the fuse.
China United Coal will be achieved in the wholly-owned coal
"Once the oil do so out of the coal, coal will be in the sole control of the coal, the results will be announced in a month or two." Sun Mao Yuan to accept the Hong Kong media recently said in an interview.
International cooperation in the coal FU Xiao Hong, deputy director of the Hong Kong media also disclosed that the Hong Kong-listed PetroChina will be held in the coal sale of shares in the coal, coal in a coal in the remaining 50 per cent of the shares.
In the coal insiders confirmed to reporters: "China attaches great importance to coal bed methane in coal mining, even in the absence of oil, coal bed methane in coal fields in the development will still continue. Not only that, in the coal will also increase input power. "
In the coal is China's second largest coal group, and in different oil, coal bed methane in the field of energy into all joint venture companies in the coal on. In the coal insiders said that the exploitation of coalbed methane resources in coal, on the one hand from mine production safety guarantee starting, but also development and utilization of new energy needs.
But in the coal into coal bed methane field was not all smooth sailing, as in previous years, the local coal mine safety work seriously enough, and gas production and mining rights to the conflict in the coal mining areas in the coalbed methane has been difficult.
"From the beginning of 2006, particularly 2007, coal mine accidents occurred one after another, the national coal mine safety accidents in unprecedented attention to it." Coal network analyst Zhaoyu Wei told this reporter: "CBM exploration relatively recent fire. "
Under the current proven the results of coalbed methane resources in China total 31 trillion cubic meters, of which 16 trillion cubic meters have good development prospects, mainly concentrated in Shanxi, Inner Mongolia and Xinjiang and other places, including Shanxi, a province of coalbed methane reserves On the country's reserves of the United States.
According to the plan, by 2020 China's natural gas demand will reach 200 billion cubic meters, nearly 50 percent of the demand will depend on imports, and coal bed methane will become an important supplement to natural gas.
Self-built pipeline intensification of the conflict »
In front of a huge market, the party is rich in coal mining experience, one of the leading oil and gas mining experience, it was almost two is golden partner, 12 contained Jieyuan Why choose breaking up »
"At that time, oil in the hope that the joint venture company owned by the 'West-East Gas Pipeline' and 'Shaanxi-Beijing second-line', transport coal bed methane." Close to the one in the coal told reporters, "but found in the coal, if the walk These two existing gas pipeline, cost-. "
Last year, Sun Mao Yuan in an exclusive interview with this reporter when he said that although the "West-East Gas Pipeline", "Shaanxi-Beijing second-line" via Shanxi Province, in theory, the two coal bed methane can be piped, but because the profit margins compared CBM Low to the "West-East Gas Pipeline" piped cost-per litre CBM take 0.3 to 0.5 yuan costs.
To this end, in the planning of coal self-built pipeline network. According to Sun Mao Yuan, to 2010, China United Coal will build four coal bed methane pipeline, are: client's - Jincheng - Pok Oi (2007),'s end - Changzhi - Lin states - Anyang - Handan (2008), South Korea - Xi'an (2009), Baode - Shaanxi-Beijing (2009), a total length of 675 km and the total design capacity of 2.2 billion cubic meters gas.
"Although can borrow some of coalbed methane natural gas pipeline, but by then, most of these new coal bed methane, mainly through the supply pipe network users." Sun Mao Yuan said.
In the coal and oil is clearly contrary to original intention of cooperation.
"In addition to rich oil and gas excavation mining experience, in the oil pipeline is the biggest competitive advantages." Zhao Yuwei that the divestment of oil go it alone, due to the hands of a few channels - West-East Gas Pipeline, is about 4,200 kilometers, investment Size of over 1,400 billion yuan, is the longest distance in China, the largest diameter gas pipeline, the Tarim Basin in the west round of the South, the North Tower is the starting point for oil, pass through Shaanxi, east to Shanghai. A total investment of 12.9 billion yuan of the Shaanxi-Beijing second-line, the west and Shaanxi Yulin, as Shanxi, Hebei, Beijing to end.
Is an independent oil in the licence application
In addition, in the coal and coalbed methane operations in general in all our energy into the various coal, oil in addition to participation in the coal, is also actively expanding its coal bed methane operations.
In March 28th at the 2007 annual performance in the oil-line investors at the exchange, oil planning in the Ministry of Planning, Deputy Chief Economist Xu Jianmei said that the coalbed methane company is "11th Five-Year Plan" identified the key development of new energy business . By the end of 2007, the company found in the Qinshui Basin of the larger reserves of coal bed methane, a certain production capacity, and launched a 3 billion deal with the side / coal bed methane in a central treatment plant construction, also in oil In preparation for the Junggar Basin, Erdos (600,295) Basin coal bed methane exploration and have achieved initial results and understanding. "11th Five-Year Plan" period, to continue to increase in oil investment in coal bed methane.
July 16, in an internal oil to the press confirmed that the oil in the area of coal bed methane has attached great importance over the past few years in Qinshui Basin, Shanxi Province has invested large amounts of funds, "the current progress is good, now have a few 100 of the wells. "
However, the divestment of the coal, these people said only: "We have just heard in the coal preparation for the shareholders of a reorganization, as a matter of the oil out, could not be confirmed by high-level."
Deserves attention is that the September 24, 2007, the State Council announced on the exploitation of land for oil resources to amend the Ordinance, Article 30 was amended to "external cooperation by the exploitation of coalbed methane resources of coal bed methane limited liability company, designated by the State Council Other companies franchise. "
According to the coal in an internal source, in cooperation with foreign countries, the oil is applied to the Government for independent development of coal bed methane licence.
It seems that in Zhaoyu Wei: "The State Council is appointed by other companies in the oil, otherwise he would not withdraw from."
Divestment of oil in the coal behind: not for its own pipeline used deviated from the original intention for coalbed methane explosion is an independent mining licence
In the increasingly popular field of coal bed methane, China Petroleum (601,857) and Natural Gas Corporation (the oil) with China Coal Group of Companies (hereinafter referred to in the coal) from once a close partner, to be transformed into a strong competitor.
12 years ago, relying on the former oil and gas resources in the field of technology and the development of the latter in the field of mine Shuren, the two national enterprises in accordance with the investment ratio of 50:50, set up in the common coal bed methane limited liability company (hereinafter referred to in the Coal), in the oil and thereafter will be held assets into listed companies.
"Now two shareholders on the reorganization began, in the hope that the oil out of the coal." July 15, general manager of China United Coal Sun Mao Yuan told reporters: "Shareholders should be asked, after the reorganization, I get an interview."
Multi-understand our reporter was informed that the request to withdraw from the oil Yiranjueran in the coal, coal bed methane fields in addition to hope单打独斗, in its coal and coalbed methane in the transport network is also in dispute, the transport network conflict Can be counted as the two sides separated the fuse.
China United Coal will be achieved in the wholly-owned coal
"Once the oil do so out of the coal, coal will be in the sole control of the coal, the results will be announced in a month or two." Sun Mao Yuan to accept the Hong Kong media recently said in an interview.
International cooperation in the coal FU Xiao Hong, deputy director of the Hong Kong media also disclosed that the Hong Kong-listed PetroChina will be held in the coal sale of shares in the coal, coal in a coal in the remaining 50 per cent of the shares.
In the coal insiders confirmed to reporters: "China attaches great importance to coal bed methane in coal mining, even in the absence of oil, coal bed methane in coal fields in the development will still continue. Not only that, in the coal will also increase input power. "
In the coal is China's second largest coal group, and in different oil, coal bed methane in the field of energy into all joint venture companies in the coal on. In the coal insiders said that the exploitation of coalbed methane resources in coal, on the one hand from mine production safety guarantee starting, but also development and utilization of new energy needs.
But in the coal into coal bed methane field was not all smooth sailing, as in previous years, the local coal mine safety work seriously enough, and gas production and mining rights to the conflict in the coal mining areas in the coalbed methane has been difficult.
"From the beginning of 2006, particularly 2007, coal mine accidents occurred one after another, the national coal mine safety accidents in unprecedented attention to it." Coal network analyst Zhaoyu Wei told this reporter: "CBM exploration relatively recent fire. "
Under the current proven the results of coalbed methane resources in China total 31 trillion cubic meters, of which 16 trillion cubic meters have good development prospects, mainly concentrated in Shanxi, Inner Mongolia and Xinjiang and other places, including Shanxi, a province of coalbed methane reserves On the country's reserves of the United States.
According to the plan, by 2020 China's natural gas demand will reach 200 billion cubic meters, nearly 50 percent of the demand will depend on imports, and coal bed methane will become an important supplement to natural gas.
Self-built pipeline intensification of the conflict »
In front of a huge market, the party is rich in coal mining experience, one of the leading oil and gas mining experience, it was almost two is golden partner, 12 contained Jieyuan Why choose breaking up »
"At that time, oil in the hope that the joint venture company owned by the 'West-East Gas Pipeline' and 'Shaanxi-Beijing second-line', transport coal bed methane." Close to the one in the coal told reporters, "but found in the coal, if the walk These two existing gas pipeline, cost-. "
Last year, Sun Mao Yuan in an exclusive interview with this reporter when he said that although the "West-East Gas Pipeline", "Shaanxi-Beijing second-line" via Shanxi Province, in theory, the two coal bed methane can be piped, but because the profit margins compared CBM Low to the "West-East Gas Pipeline" piped cost-per litre CBM take 0.3 to 0.5 yuan costs.
To this end, in the planning of coal self-built pipeline network. According to Sun Mao Yuan, to 2010, China United Coal will build four coal bed methane pipeline, are: client's - Jincheng - Pok Oi (2007),'s end - Changzhi - Lin states - Anyang - Handan (2008), South Korea - Xi'an (2009), Baode - Shaanxi-Beijing (2009), a total length of 675 km and the total design capacity of 2.2 billion cubic meters gas.
"Although can borrow some of coalbed methane natural gas pipeline, but by then, most of these new coal bed methane, mainly through the supply pipe network users." Sun Mao Yuan said.
In the coal and oil is clearly contrary to original intention of cooperation.
"In addition to rich oil and gas excavation mining experience, in the oil pipeline is the biggest competitive advantages." Zhao Yuwei that the divestment of oil go it alone, due to the hands of a few channels - West-East Gas Pipeline, is about 4,200 kilometers, investment Size of over 1,400 billion yuan, is the longest distance in China, the largest diameter gas pipeline, the Tarim Basin in the west round of the South, the North Tower is the starting point for oil, pass through Shaanxi, east to Shanghai. A total investment of 12.9 billion yuan of the Shaanxi-Beijing second-line, the west and Shaanxi Yulin, as Shanxi, Hebei, Beijing to end.
Is an independent oil in the licence application
In addition, in the coal and coalbed methane operations in general in all our energy into the various coal, oil in addition to participation in the coal, is also actively expanding its coal bed methane operations.
In March 28th at the 2007 annual performance in the oil-line investors at the exchange, oil planning in the Ministry of Planning, Deputy Chief Economist Xu Jianmei said that the coalbed methane company is "11th Five-Year Plan" identified the key development of new energy business . By the end of 2007, the company found in the Qinshui Basin of the larger reserves of coal bed methane, a certain production capacity, and launched a 3 billion deal with the side / coal bed methane in a central treatment plant construction, also in oil In preparation for the Junggar Basin, Erdos (600,295) Basin coal bed methane exploration and have achieved initial results and understanding. "11th Five-Year Plan" period, to continue to increase in oil investment in coal bed methane.
July 16, in an internal oil to the press confirmed that the oil in the area of coal bed methane has attached great importance over the past few years in Qinshui Basin, Shanxi Province has invested large amounts of funds, "the current progress is good, now have a few 100 of the wells. "
However, the divestment of the coal, these people said only: "We have just heard in the coal preparation for the shareholders of a reorganization, as a matter of the oil out, could not be confirmed by high-level."
Deserves attention is that the September 24, 2007, the State Council announced on the exploitation of land for oil resources to amend the Ordinance, Article 30 was amended to "external cooperation by the exploitation of coalbed methane resources of coal bed methane limited liability company, designated by the State Council Other companies franchise. "
According to the coal in an internal source, in cooperation with foreign countries, the oil is applied to the Government for independent development of coal bed methane licence.
It seems that in Zhaoyu Wei: "The State Council is appointed by other companies in the oil, otherwise he would not withdraw from."
From previous Olympic host country's stock market performance of Chinese A-share operating trends
As time Feishi, Zhuanyan Jian Beijing Olympic Games have been close at hand, whether China can successfully hold the Olympic Games has become the focus of attention of the world, and the success of the Olympic Games organized, we can not simply use the venue perfect, well-equipped, courteous service, all races Whether or not to complete the successful completion of the definition.
As embodied in the Olympic Games is not only the standard of sports competition, more of the host country's comprehensive national strength. The stock market is the national economy "barometer", the stock market's performance in this period, can fully reflect the Olympics to organize the opportunity for development. Political stability, economic prosperity, the stock market steadily upward, this is the Olympic Games successfully held a good environment. As the stock market one, I think, Bainianyiyu the success of the Olympic Games in Beijing, the only market with waves surging out of the market, can be called on is the real success! Combination of several previous successful hosting of the Olympic Games of the country's economy and stock market Performance, we can generally be outlining our country's future economic blueprint, and the direction of the stock market.
1988 Seoul (now Seoul) Olympics, Seoul, Korea Composite Stock Price Index in 1986, 1987 and 1988 these three years, a record 68.9 percent, respectively, 98.29 percent and 70.51 percent a year or, in 1988, and December 15 Japan hit a record high of 930 points. After the Olympics, the stock market or in a declining trend. 1993 successful bid to host the 2000 Sydney Olympics, when the stock market in the country that set a 40 percent increase, and since 1993 the Australian stock market started the trend was continuing up to the Sydney 2000 Olympic Games held in eight years, the total rose 103 percent, only during the A slight pullback in 1994. After the 2000 Olympics because of the economic impetus, from 2000 to 2006 in six years, Australia Ordinaries index was up 76.07 percent. Australian Olympic Economy of the stock market has driven long-term effect, the effect both in the preparations for the Olympic Games period, held during and subsequent years continued to play a role.
From the States in the Olympics before and after the development of GDP, a year before the Olympics and most of that year's GDP growth rate higher, such as South Korea, Spain, Australia's GDP growth rate was 11.10 percent, 10.64 percent, 9.66 percent and 7.70 percent; 4.36 percent, 3.41 percent, but most of the Olympic Games after the end of the downward trend, such as the above three countries held the Olympic Games after the first year data were 6.74 percent, 3.46 percent and 2.15 percent. However, the U.S. exception, the United States three years with the GDP trend contrary to other countries, GDP growth rates were 4.60 percent, 5.67 percent and 6.24 percent. Clearly, the Olympic Games for the country's economic role in promoting Bukexiaoshi.
Under the current public information, the past six Olympic Games host country, stock prices one year ago in the Olympic all up, the rate of 14.39 percent to 96.74 percent between the Olympic Games was held only one of the index fell and the rest are rising, or 2.8% in To 69.54 percent between organized after the first year all up, the range of 0.28 percent to 54.2 percent between organized the first two years or more rose less. Data from the above, recalled before the Olympic Games in China's stock market trend is also a stock market similar to the above-mentioned countries and areas. Chinese Olympic years ago, on October 16, 2007, also hit a record high of 6124.04 points, while GDP growth rate with South Korea, Spain, Australia and other countries were compared gone beyond.
Through the above comparison, the author can be sure, the A shares have been or can not be dropped, the Olympic Games Quotes about to begin, especially after the market after Shenfudiaozheng up tremendous space. At present, whether from the perspective of valuation or investment, the market has fully with the conditions and a rising power.
As embodied in the Olympic Games is not only the standard of sports competition, more of the host country's comprehensive national strength. The stock market is the national economy "barometer", the stock market's performance in this period, can fully reflect the Olympics to organize the opportunity for development. Political stability, economic prosperity, the stock market steadily upward, this is the Olympic Games successfully held a good environment. As the stock market one, I think, Bainianyiyu the success of the Olympic Games in Beijing, the only market with waves surging out of the market, can be called on is the real success! Combination of several previous successful hosting of the Olympic Games of the country's economy and stock market Performance, we can generally be outlining our country's future economic blueprint, and the direction of the stock market.
1988 Seoul (now Seoul) Olympics, Seoul, Korea Composite Stock Price Index in 1986, 1987 and 1988 these three years, a record 68.9 percent, respectively, 98.29 percent and 70.51 percent a year or, in 1988, and December 15 Japan hit a record high of 930 points. After the Olympics, the stock market or in a declining trend. 1993 successful bid to host the 2000 Sydney Olympics, when the stock market in the country that set a 40 percent increase, and since 1993 the Australian stock market started the trend was continuing up to the Sydney 2000 Olympic Games held in eight years, the total rose 103 percent, only during the A slight pullback in 1994. After the 2000 Olympics because of the economic impetus, from 2000 to 2006 in six years, Australia Ordinaries index was up 76.07 percent. Australian Olympic Economy of the stock market has driven long-term effect, the effect both in the preparations for the Olympic Games period, held during and subsequent years continued to play a role.
From the States in the Olympics before and after the development of GDP, a year before the Olympics and most of that year's GDP growth rate higher, such as South Korea, Spain, Australia's GDP growth rate was 11.10 percent, 10.64 percent, 9.66 percent and 7.70 percent; 4.36 percent, 3.41 percent, but most of the Olympic Games after the end of the downward trend, such as the above three countries held the Olympic Games after the first year data were 6.74 percent, 3.46 percent and 2.15 percent. However, the U.S. exception, the United States three years with the GDP trend contrary to other countries, GDP growth rates were 4.60 percent, 5.67 percent and 6.24 percent. Clearly, the Olympic Games for the country's economic role in promoting Bukexiaoshi.
Under the current public information, the past six Olympic Games host country, stock prices one year ago in the Olympic all up, the rate of 14.39 percent to 96.74 percent between the Olympic Games was held only one of the index fell and the rest are rising, or 2.8% in To 69.54 percent between organized after the first year all up, the range of 0.28 percent to 54.2 percent between organized the first two years or more rose less. Data from the above, recalled before the Olympic Games in China's stock market trend is also a stock market similar to the above-mentioned countries and areas. Chinese Olympic years ago, on October 16, 2007, also hit a record high of 6124.04 points, while GDP growth rate with South Korea, Spain, Australia and other countries were compared gone beyond.
Through the above comparison, the author can be sure, the A shares have been or can not be dropped, the Olympic Games Quotes about to begin, especially after the market after Shenfudiaozheng up tremendous space. At present, whether from the perspective of valuation or investment, the market has fully with the conditions and a rising power.
China's stock market long-term basis is not good to change
Investors worried about the macroeconomic data off this year on the 17th出炉. The first half of the 10.4 percent economic growth rate, 7.1 percent of the June consumer price level (CPI), the two main data show that China's stock market has not been a good foundation for a long time to change.
"China's economy is still on the track of stable and healthy operation and long-term, this is the operation of the stock market good." Everbright Securities Li Kang, director of the Institute of such data to make such interpretation.
Steady and rapid economic growth
For some time now, with the stock market and the macro-economic ties are becoming ever closer, most economic data as investors concerned about the information.
National Bureau of Statistics data show that the first half of this year economic growth rate down 1.8 percentage points, both of which take the initiative to control our country, adopted a series of measures to prevent economic growth from overheating too fast to the relevant, at the same time, and the world economic downturn, foreign demand Of the sluggish, but the adverse external factors did not seriously affect China's economic growth.
Kang Li that although this year, global inflationary pressures intensify, the world economic slowdown, but China's economy has not been much affected. This shows the effectiveness of China's macro-control Obviously, on the other hand is also due to strong growth in domestic demand, China's economy remains relatively strong growth momentum.
Guotai Junan Securities, Jiang Chao, the first half of the gross domestic product (GDP) growth rate of better than expected, coupled with the name of investment to maintain high growth rate, which indicates that a sharp drop in GDP this year is unlikely that economic growth will continue .
The stock market is expected to future economic responses to the steady and rapid economic growth will be the trend of the stock market decide the most basic factors. China Merchants Securities, Xuehua believes that the current economic growth rate is higher in the last year on the basis of the same period last year economic growth rate was 12.2%. From this we can see that the current economic growth rate is still higher.
For the third quarter, the stock market optimism
Remove to maintain economic growth, consumer price level there is expected in the fall. National Bureau of Statistics chief economist Yao Jingyuan said that in May and June CPI up or whether the ring had declined. Before the year is expected to show a trend of high to low. This shows that the macroeconomic regulation and control excessive rise in the price suppression achieved remarkable results. CPI in the second half will continue to fall.
Jiang Chao, June CPI down in line with market expectations, its positive role may have been ahead of digestion, and in the context of sustained economic growth, inflation pressures remain significant.
Deserves attention is that the June factory price of industrial products (PPI) rose 8.8 percent, or higher than the same period last year 4.8 percentage points, PPI and CPI movements are still differences between the continuation of the situation. Analysts point out that in this trend, profits will be further transferred to the upstream sector, which is in the upstream sector of the listed companies is good, but the downstream businesses will be subject to a certain degree of impact.
In the short term, the trend of decisions in the stock market a variety of factors, may arise with the temporary departure from the macroeconomic. But in the long term, the stock market and real economic trend will remain consistent. Entities economic growth, reflected in the stock market, investors will be to increase the wealth of the results. In other words, the long-term perspective, if the fast economic growth, the stock market Jiuwang up.
After the early sharp fall in the macroeconomic fundamentals remain unchanged against the background of the investors for the future of the stock market is also expected to change. Global Financial Services Group (ING) recently issued a survey report shows that Chinese investors the second quarter, the overall sentiment index fell, but remain optimistic about the third quarter, the stock market. According to the survey, 66 percent of the investors in the third quarter, are optimistic about the economy, 62 percent of investors expect the third quarter rate of return on investment will be increased.
The survey also showed that the impact of price increases, 79 percent of the respondents intend to re-configure the current investment portfolio and (or) to increase investment to cope with inflation. In that portfolio will be re-configured and (or) to increase investment to cope with inflation of the respondents, 42 percent of the people are considering investment in gold, 40 percent of people are considering investing in stocks.
Analysts point out that, although the first half of the Chinese economy has maintained steady and rapid development, but it should be noted that the world economic slowdown on the negative impact of China's economy is gradually appear. The judgement of the short-term trend of the stock market itself, in addition to fundamentals, but also needs to integrate the many complex factors.
"China's economy is still on the track of stable and healthy operation and long-term, this is the operation of the stock market good." Everbright Securities Li Kang, director of the Institute of such data to make such interpretation.
Steady and rapid economic growth
For some time now, with the stock market and the macro-economic ties are becoming ever closer, most economic data as investors concerned about the information.
National Bureau of Statistics data show that the first half of this year economic growth rate down 1.8 percentage points, both of which take the initiative to control our country, adopted a series of measures to prevent economic growth from overheating too fast to the relevant, at the same time, and the world economic downturn, foreign demand Of the sluggish, but the adverse external factors did not seriously affect China's economic growth.
Kang Li that although this year, global inflationary pressures intensify, the world economic slowdown, but China's economy has not been much affected. This shows the effectiveness of China's macro-control Obviously, on the other hand is also due to strong growth in domestic demand, China's economy remains relatively strong growth momentum.
Guotai Junan Securities, Jiang Chao, the first half of the gross domestic product (GDP) growth rate of better than expected, coupled with the name of investment to maintain high growth rate, which indicates that a sharp drop in GDP this year is unlikely that economic growth will continue .
The stock market is expected to future economic responses to the steady and rapid economic growth will be the trend of the stock market decide the most basic factors. China Merchants Securities, Xuehua believes that the current economic growth rate is higher in the last year on the basis of the same period last year economic growth rate was 12.2%. From this we can see that the current economic growth rate is still higher.
For the third quarter, the stock market optimism
Remove to maintain economic growth, consumer price level there is expected in the fall. National Bureau of Statistics chief economist Yao Jingyuan said that in May and June CPI up or whether the ring had declined. Before the year is expected to show a trend of high to low. This shows that the macroeconomic regulation and control excessive rise in the price suppression achieved remarkable results. CPI in the second half will continue to fall.
Jiang Chao, June CPI down in line with market expectations, its positive role may have been ahead of digestion, and in the context of sustained economic growth, inflation pressures remain significant.
Deserves attention is that the June factory price of industrial products (PPI) rose 8.8 percent, or higher than the same period last year 4.8 percentage points, PPI and CPI movements are still differences between the continuation of the situation. Analysts point out that in this trend, profits will be further transferred to the upstream sector, which is in the upstream sector of the listed companies is good, but the downstream businesses will be subject to a certain degree of impact.
In the short term, the trend of decisions in the stock market a variety of factors, may arise with the temporary departure from the macroeconomic. But in the long term, the stock market and real economic trend will remain consistent. Entities economic growth, reflected in the stock market, investors will be to increase the wealth of the results. In other words, the long-term perspective, if the fast economic growth, the stock market Jiuwang up.
After the early sharp fall in the macroeconomic fundamentals remain unchanged against the background of the investors for the future of the stock market is also expected to change. Global Financial Services Group (ING) recently issued a survey report shows that Chinese investors the second quarter, the overall sentiment index fell, but remain optimistic about the third quarter, the stock market. According to the survey, 66 percent of the investors in the third quarter, are optimistic about the economy, 62 percent of investors expect the third quarter rate of return on investment will be increased.
The survey also showed that the impact of price increases, 79 percent of the respondents intend to re-configure the current investment portfolio and (or) to increase investment to cope with inflation. In that portfolio will be re-configured and (or) to increase investment to cope with inflation of the respondents, 42 percent of the people are considering investment in gold, 40 percent of people are considering investing in stocks.
Analysts point out that, although the first half of the Chinese economy has maintained steady and rapid development, but it should be noted that the world economic slowdown on the negative impact of China's economy is gradually appear. The judgement of the short-term trend of the stock market itself, in addition to fundamentals, but also needs to integrate the many complex factors.
2008-07-16
Subsidence to the plight of the United States called on China for help to buy more mortgage bonds
Established in 1970 the premises of the United States and the United States mortgage one of the main sources of funds
Fannie in the United States and the premises of the United States and the two government-funded mortgage institutions of the deep difficulties, the Bush administration called on the Chinese central bank to buy more U.S. government guarantees the mortgage bonds. According to the U.S. Treasury Department on June 30, 2007 issued by overseas holders of U.S. securities report, the two companies best five foreign creditors, followed by China, Japan, the Cayman Islands, Luxembourg and Belgium. The report showed that China's holdings of U.S. institutions of 376.326 billion U.S. dollars of long-term bonds, including asset-backed bonds to 206 billion U.S. dollars.
Asset-backed bonds is mainly mortgage bonds, such bonds from Fannie Mae and premises of the United States and the two agencies issued or guaranteed.
U.S. Housing and Urban Development Department, Jackson is currently visiting Beijing to try to convince the Chinese central bank to buy more U.S. Mortgage Association securities.
U.S. mortgage market has become serious borrowers default, Fannie and premises of the two major U.S. government-funded mortgage institutions bogged down in difficulties. In this context, the U.S. government to send the Department of Housing and Urban Development Minister Jackson visit to Beijing with the intention of the Association for the U.S. mortgage securities to recruit China's foreign exchange reserves this major customer.
It is learnt that the National Mortgage Association to 417 billion U.S. dollars of federal insurance and fixed-rate mortgages provide security.
Last week, Jackson met with the central bank governor Zhou Xiaochuan. Jackson said that the National Mortgage Association than most other institutions better suited to provide mortgage products. He said that Fannie Mae and the United States and the different premises, the U.S. Government National Mortgage Association to provide comprehensive support, the credit risk in the same circumstances, the mortgage securities on the People's Bank of China provided the proceeds from the U.S. Treasury bonds than the benefits of more好.
Jackson also said that with China's commercial banks contacts, such as the Construction Bank of China, talks to buy the support of the Government of the mortgage securities matters. He added that China and the United States are facing the people to provide affordable housing challenges.
According to the U.S. Treasury Department and the Federal Reserve in 2007 "issued by the U.S. Securities and overseas holders of the report" as well as Bloomberg statistics, from 2004 to 2007, China held the U.S. Securities and from the 341 billion U.S. dollars over the Three times, to 922 billion U.S. dollars, of which at least 414 billion U.S. dollars for the United States Treasury bonds (as at April this year).
U.S. Foreign Relations Sese economists estimate that China's purchase of the U.S. Securities and total more than 1 trillion U.S. dollars.
U.S. Housing and Urban Development Department's web site also shows that China is Fannie and premises of the United States and the largest creditor, holding 376 billion U.S. dollars of corporate bonds.
The United States prior to oppose the government took over the premises of the United States and Fannie Mae, especially when foreign creditors, the two companies become a major shareholder. FreedomWorks President of the United States that Matt Kibbe, "the two" security of taxpayer's money on functions of foreign investors to take risks. He pointed out that all government-sponsored enterprise (GSE) bond issue, a statement from the U.S. government is not secured. Investors in these bonds have gained since the state treasury bonds is much higher than the risk premium, it should also bear the consequences of their own, not by American taxpayers to clean up the mess.
U.S. Congressional Research Service published in January this year, the report pointed out that as the low savings rate, the growth in the U.S. economy is seriously dependent on the country's high savings rate of capital. The U.S. government in order to make up the deficit, issuing a lot of Treasuries, half of which were held for foreign investors.
Sese said that China has taken diversified investment strategy, even if Fannie and premises shrinking U.S. bonds, China will not be easily sold. He believes that the U.S. relief plans, if successful reduce the mortgage debt on treasury bond risk premium, will bring great benefits to China. In addition, this initiative is to help strengthen the U.S. dollar, the U.S. dollar will not drop, in the face of pressure from the appreciation of the renminbi will also be breathing space.
Related News
Premises of the United States and "self-help" smooth
Premises of the United States Monday auction of short-term bonds are concerned, many investors in financial institutions clouded by the concerns of the market, the U.S. adopted the premises of the key test of investor confidence. The premises of the United States and 3 billion U.S. dollars short-term instruments auction, tender was higher than usual.
U.S. Federal Reserve to tighten the regulation of new mortgage loans
Federal Reserve July 14 through a series of standardized housing mortgage lending activities of the new measures, designed to better protect consumers from deceptive acts against the mortgage. New measures include: prohibit the direction of lending no proof of income of borrowers to offer loans to lending more than the borrower must ensure that the money used to pay taxes and insurance; restrictions on lending to early repayment penalties, etc..
Fannie in the United States and the premises of the United States and the two government-funded mortgage institutions of the deep difficulties, the Bush administration called on the Chinese central bank to buy more U.S. government guarantees the mortgage bonds. According to the U.S. Treasury Department on June 30, 2007 issued by overseas holders of U.S. securities report, the two companies best five foreign creditors, followed by China, Japan, the Cayman Islands, Luxembourg and Belgium. The report showed that China's holdings of U.S. institutions of 376.326 billion U.S. dollars of long-term bonds, including asset-backed bonds to 206 billion U.S. dollars.
Asset-backed bonds is mainly mortgage bonds, such bonds from Fannie Mae and premises of the United States and the two agencies issued or guaranteed.
U.S. Housing and Urban Development Department, Jackson is currently visiting Beijing to try to convince the Chinese central bank to buy more U.S. Mortgage Association securities.
U.S. mortgage market has become serious borrowers default, Fannie and premises of the two major U.S. government-funded mortgage institutions bogged down in difficulties. In this context, the U.S. government to send the Department of Housing and Urban Development Minister Jackson visit to Beijing with the intention of the Association for the U.S. mortgage securities to recruit China's foreign exchange reserves this major customer.
It is learnt that the National Mortgage Association to 417 billion U.S. dollars of federal insurance and fixed-rate mortgages provide security.
Last week, Jackson met with the central bank governor Zhou Xiaochuan. Jackson said that the National Mortgage Association than most other institutions better suited to provide mortgage products. He said that Fannie Mae and the United States and the different premises, the U.S. Government National Mortgage Association to provide comprehensive support, the credit risk in the same circumstances, the mortgage securities on the People's Bank of China provided the proceeds from the U.S. Treasury bonds than the benefits of more好.
Jackson also said that with China's commercial banks contacts, such as the Construction Bank of China, talks to buy the support of the Government of the mortgage securities matters. He added that China and the United States are facing the people to provide affordable housing challenges.
According to the U.S. Treasury Department and the Federal Reserve in 2007 "issued by the U.S. Securities and overseas holders of the report" as well as Bloomberg statistics, from 2004 to 2007, China held the U.S. Securities and from the 341 billion U.S. dollars over the Three times, to 922 billion U.S. dollars, of which at least 414 billion U.S. dollars for the United States Treasury bonds (as at April this year).
U.S. Foreign Relations Sese economists estimate that China's purchase of the U.S. Securities and total more than 1 trillion U.S. dollars.
U.S. Housing and Urban Development Department's web site also shows that China is Fannie and premises of the United States and the largest creditor, holding 376 billion U.S. dollars of corporate bonds.
The United States prior to oppose the government took over the premises of the United States and Fannie Mae, especially when foreign creditors, the two companies become a major shareholder. FreedomWorks President of the United States that Matt Kibbe, "the two" security of taxpayer's money on functions of foreign investors to take risks. He pointed out that all government-sponsored enterprise (GSE) bond issue, a statement from the U.S. government is not secured. Investors in these bonds have gained since the state treasury bonds is much higher than the risk premium, it should also bear the consequences of their own, not by American taxpayers to clean up the mess.
U.S. Congressional Research Service published in January this year, the report pointed out that as the low savings rate, the growth in the U.S. economy is seriously dependent on the country's high savings rate of capital. The U.S. government in order to make up the deficit, issuing a lot of Treasuries, half of which were held for foreign investors.
Sese said that China has taken diversified investment strategy, even if Fannie and premises shrinking U.S. bonds, China will not be easily sold. He believes that the U.S. relief plans, if successful reduce the mortgage debt on treasury bond risk premium, will bring great benefits to China. In addition, this initiative is to help strengthen the U.S. dollar, the U.S. dollar will not drop, in the face of pressure from the appreciation of the renminbi will also be breathing space.
Related News
Premises of the United States and "self-help" smooth
Premises of the United States Monday auction of short-term bonds are concerned, many investors in financial institutions clouded by the concerns of the market, the U.S. adopted the premises of the key test of investor confidence. The premises of the United States and 3 billion U.S. dollars short-term instruments auction, tender was higher than usual.
U.S. Federal Reserve to tighten the regulation of new mortgage loans
Federal Reserve July 14 through a series of standardized housing mortgage lending activities of the new measures, designed to better protect consumers from deceptive acts against the mortgage. New measures include: prohibit the direction of lending no proof of income of borrowers to offer loans to lending more than the borrower must ensure that the money used to pay taxes and insurance; restrictions on lending to early repayment penalties, etc..
China's first F-10 fighter-scale models, such as appearance in Beijing
China's one route, such as scale models of aircraft Jianshi
PRC military-Beijing July 16 (Xinhua Huang Tzu-Juan) today 9:30, an Air China plane Jianshi landscape project inauguration ceremony was held in Beijing, China's one route the leadership and staff attended the inauguration ceremony and The opening ceremony, a grand scene of a warm and attract attention of the public's attention.
This reporter has learned that the appearance of the Jianshi model of the capital, is Jianshi fighters such as scale models, and the true size of the same model is located in Beijing next to the bustling streets, this is the first in the country, this feature has become a model Beijing streets of beautiful scenery, has become China's one route before building a permanent mark.
Jianshi on aircraft
Jianshi aircraft is China's self-developed, with independent intellectual property rights of high-performance, multi-purpose third-generation advanced fighter aircraft, with high reliability, survivability and high mobility, combat radius, taking off and landing distance short, a strong ability to attack, Integrated operational efficiency reached the international advanced level of similar fighters.
After years of development, has become the establishment Jianshi aircraft to equip our troops, a combat capability. At present, Jianshi aircraft series has been formed a good situation, with its two-seater-fighting / trainer has completed the development, and mass troops and equipment.
Jian Shi of China's aviation aircraft development is the history of development of the largest and highest technical difficulty, the most extensive collaboration of the complex project, involving air power, electronic information, materials and metallurgy, machinery manufacturing, steel, aerospace and other technology, aviation, aerospace, electronics , Steel, metallurgy, machinery, chemicals, light industry, textiles, Chinese Academy of Sciences, and other 14 ministries, more than 100 units, hundreds of thousands of people directly involved in the development of the whole project.
Jianshi aircraft by the success of development, China has mastered a set of independent intellectual property rights with a new generation of fighter development technology, formed a self-development, production capacity of the new generation of fighters. In the development process, to have broken through the multidisciplinary optimization, advanced aerodynamic layout, digital flight control telex, digital integrated avionics / arms, large-scale systems integration as the representative of the design technology, established the overall number of Controlled processing, titanium parts and composite materials to represent a new generation of aircraft manufacturing system, a large capacity to solve real-time flight test the key technology, independently developed a multi-function fire control radars, hundreds of new products and large-sized titanium and so on Dozens of new materials and technology management, systems engineering and project management, project management, parallel to a major innovation, has made a large number of major scientific and technological innovations.
Jianshi the aircraft developed a large number of technical achievements to fill the gaps in the domestic to the international advanced level, has been widely used in other aircraft and missiles, warships, tanks and other weaponry in the research and development. Jianshi aircraft development through the establishment of the research system, the technological achievements and bring up the personnel for China's next generation of advanced fighter planes for laying a solid foundation, while promoting the electronic information, machinery, materials, metallurgy, chemical industry The technological progress and industrial development.
Jianshi successful development of the aircraft, so that our military has the advanced fighters in service with foreign countries to match the capacity of the army's aviation realized from the second-generation weapons and equipment to the third generation of historical leap. At the same time, greatly promoted the development of China's aviation industry, signifies that China's aviation weapons and equipment of independent research and development capacity among the world's advanced ranks.
Jianshi aircraft engineering the 2006 annual national scientific and technological progress Special Award.
PRC military-Beijing July 16 (Xinhua Huang Tzu-Juan) today 9:30, an Air China plane Jianshi landscape project inauguration ceremony was held in Beijing, China's one route the leadership and staff attended the inauguration ceremony and The opening ceremony, a grand scene of a warm and attract attention of the public's attention.
This reporter has learned that the appearance of the Jianshi model of the capital, is Jianshi fighters such as scale models, and the true size of the same model is located in Beijing next to the bustling streets, this is the first in the country, this feature has become a model Beijing streets of beautiful scenery, has become China's one route before building a permanent mark.
Jianshi on aircraft
Jianshi aircraft is China's self-developed, with independent intellectual property rights of high-performance, multi-purpose third-generation advanced fighter aircraft, with high reliability, survivability and high mobility, combat radius, taking off and landing distance short, a strong ability to attack, Integrated operational efficiency reached the international advanced level of similar fighters.
After years of development, has become the establishment Jianshi aircraft to equip our troops, a combat capability. At present, Jianshi aircraft series has been formed a good situation, with its two-seater-fighting / trainer has completed the development, and mass troops and equipment.
Jian Shi of China's aviation aircraft development is the history of development of the largest and highest technical difficulty, the most extensive collaboration of the complex project, involving air power, electronic information, materials and metallurgy, machinery manufacturing, steel, aerospace and other technology, aviation, aerospace, electronics , Steel, metallurgy, machinery, chemicals, light industry, textiles, Chinese Academy of Sciences, and other 14 ministries, more than 100 units, hundreds of thousands of people directly involved in the development of the whole project.
Jianshi aircraft by the success of development, China has mastered a set of independent intellectual property rights with a new generation of fighter development technology, formed a self-development, production capacity of the new generation of fighters. In the development process, to have broken through the multidisciplinary optimization, advanced aerodynamic layout, digital flight control telex, digital integrated avionics / arms, large-scale systems integration as the representative of the design technology, established the overall number of Controlled processing, titanium parts and composite materials to represent a new generation of aircraft manufacturing system, a large capacity to solve real-time flight test the key technology, independently developed a multi-function fire control radars, hundreds of new products and large-sized titanium and so on Dozens of new materials and technology management, systems engineering and project management, project management, parallel to a major innovation, has made a large number of major scientific and technological innovations.
Jianshi the aircraft developed a large number of technical achievements to fill the gaps in the domestic to the international advanced level, has been widely used in other aircraft and missiles, warships, tanks and other weaponry in the research and development. Jianshi aircraft development through the establishment of the research system, the technological achievements and bring up the personnel for China's next generation of advanced fighter planes for laying a solid foundation, while promoting the electronic information, machinery, materials, metallurgy, chemical industry The technological progress and industrial development.
Jianshi successful development of the aircraft, so that our military has the advanced fighters in service with foreign countries to match the capacity of the army's aviation realized from the second-generation weapons and equipment to the third generation of historical leap. At the same time, greatly promoted the development of China's aviation industry, signifies that China's aviation weapons and equipment of independent research and development capacity among the world's advanced ranks.
Jianshi aircraft engineering the 2006 annual national scientific and technological progress Special Award.
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