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In Europe the current debt crisis intensified, the U.S. dollar as safe-haven currency of choice, is adverse economic strength.

Look at the RMB exchange reform since the Okanagan K line chart, in addition to the financial crisis in September 2009 during the central parity of RMB against the U.S. dollar fell slightly outside the six years has been a continuous unilateral appreciation of the “slope of line” But last month, the central parity of RMB against the U.S. dollar drop in again. What is more, the last two trading days last week, the yuan against the U.S. dollar in spot trading market in the continuous limit.

RMB rare two-day “limit.”

In the purchase of foreign exchange demand driven, December 2 midday trading session on Friday that the renminbi spot exchange market, the spot price of RMB against the U.S. dollar price of the emergence of 6.3627 yuan, compared with 6.3635 yuan the previous trading day’s closing price However, with the day by five thousandths of fluctuations up and down the central parity calculation, 6.3627 yuan RMB limit price is the same day. Friday’s central parity of RMB against the U.S. dollar is 6.3310. The day after the December 1, the RMB against the U.S. dollar has also appeared in a short limit.

Looking at the offshore market, NDF year reached RMB against the U.S. dollar price of 6.3790/40, while the domestic market of RMB against the U.S. dollar one-year deal to swap the latest discount 21 points.

Although the renminbi spot market trading limit for two consecutive day when the situation, but the count last week, the trend of the central parity of RMB against the U.S. dollar, but it was a different story continues closed up. Last week, the central parity of RMB against the U.S. dollar gained is as high as 244 basis points.

Median price rose, the yuan intraday limit, this delicate relationship, what is the dollar market needed a temporary situation, or the renminbi will be devalued, but its central parity is in the wearer to support the market?

Market gives the answer?

November 19, Premier Wen Jiabao to attend East Asia Summit in Bali, Indonesia, said during the meeting, it was noted in late September to early November, overseas non-deliverable forward foreign exchange market expected devaluation of the RMB exchange rate, this situation is not man-made decision is a reflection of the market exchange rate. Wen said the RMB exchange rate flexibility means to increase both the appreciation of the yuan, also can be depreciated.

Thursday and Friday market, the dollar was in short supply, the lower limit of the yuan against the U.S. dollarPriceThere. In some market participants view, is not surprising. A large bank, a currency trader, told reporters: “In fact, had already appeared in the July devaluation of the RMB around the signal, now on the market to buy dollars is very strong, the RMB trading price two days significantly deviate from the central parity, can be seen suppress the power of the central parity devaluation is very obvious. ”

Merchants BankSenior financial analyst Dong-Liang Liu told reporters yesterday that the purchase of foreign exchange plate is so large, more complex reasons, there may be three reasons: to see empty yuan, domestic and foreign purchases of foreign exchange arbitrage and hedging demand.

Is it true for the yuan, as predicted by some people appear to be short sharp depreciation of the problem, Dong-Liang Liu believes that the central bank should be able to control the stability of RMB, and the current intention of the central bank’s control is also very obvious.

Bloomberg recently released a forecast of economists and analysts of survey, “With China’s export surplus continued to decline, the next four months, the yuan against the U.S. dollar’s exchange rate will appear weak.” Economists predict the next four months the yuan may be the weakest performance in BRIC currencies.

Data show that China’s trade surplus in October dropped to $ 17 billion last year is 272 billion dollars. Chinese Minister of Commerce said recently that, by the European debt crisis, China’s trade exports in the coming months the possibility of very large drop. A large number of market analysts pointed out that if China’s trade surplus continues to decline, then, the yuan’s appreciation of the external pressure will come to an end.

NetEase News October 18 Unexpected performance of hydropower in China today. China’s hydropower today opened at 4.78, rose more than 6%. 11:00 China reported utilities rose 38.22% 6.23, as compared with opening up more than 20%, by exchange temporary suspension. Afternoon after the opening bell, with the shock down the broader market, China Hydropower shock down by the close, China’s hydropower reported 5.28, rose 17% against the market trend.

Not yet listed on the year was caused by investors worried about the largest IPO of China’s hydropower will be officially launched today the secondary market. Just pick up the market rally could continue? In this regard, some analysts believe that the stock continue to fall for several months, after nearly two weeks back on the market 2400 points above the market to pick up or absorb the negative impact of China’s hydropower market.

GF Securities analyst Wan Bing that, from the release point of view, China’s hydropower resources are not to be optimistic, yesterday stock index forcibly red, may play a protective role in China’s hydropower market; however be noted that, IPO distribution rate did not slow down, the current market volume does not significantly enlarged, compared yesterday’s trading volume between the two cities last week, again shrinking. China’s hydropower market are still many difficulties, do not rule out the first day of break possible.

China’s current water and electricity to 4.5 per low profile market, so many analysts after the market trend but its not so pessimistic.

Fei Tan SW analysts believe that China’s hydropower although somewhat inopportune time to market, but the market after a bad pre-digestion, combined gold holdings of the message exchange market confidence rose to its first day of listing and create a better market environment , is likely to help them keep the first day of “hair” success.

Southwest Securities analyst Huang Chang whole is relatively cautious, he believes China’s hydropower releases a high success rate, especially on social security and insurance funds on behalf of institutional subscription is not active, the parties are not optimistic about the situation, it is likely the first day of commitment pressure, coupled with the current market volume does not significantly enlarged, wait and see mood strong, break may also be inevitable, but is expected to break even if its share price will not last long time. GF Securities analyst Wang was also the case that China’s hydropower still more reasonable valuation, the expected stock price in the distribution near the shock.

Chinese holdings of U.S. debt assets for the safety, Locke said he believes China’s U.S. dollar assets are safe, but also the U.S. government and Obama are committed to rectify the domestic financial problems.

Locke was sworn in the United States Ambassador

A reporter asked Locke

Yesterday, the new U.S. ambassador to Locke (Gary Locke) wives and pull out the child in Beijing’s embassy residence. In his inaugural speech, Locke warm and words carefully, its Ambassador in China trip as “our family is the beginning of an adventure and challenge.”

Chinese holdings of U.S. debt and assets for the safety, Locke said he believes China’s U.S. dollar assets are safe, but also the U.S. government and Obama are committed to rectify the domestic financial problems.

Assets in the United States

August 6, Standard & Poor’s long-term sovereign credit rating from the U.S. “AAA” down to “AA +”, rating outlook to “negative” This is the first time in American history to lose AAA rating. As the largest holders of U.S. debt, Chinese media recently revealed an asset to the security concerns in the United States.

Locke responded by saying that Obama and the financial position of the United States Congress has developed a complete roadmap, but even U.S. Treasury bonds are downgraded, there are still buyers in the purchase. “This means investment in the U.S. is safe, and, although the U.S. economy is facing adjustment, but it is always strong.” He said.

On August 10, worth $ 24 billion the U.S. Treasury 10-year Treasury, which marked a record low interest rates, was 2.14%, but was soon to subscribe for one empty.

Currently, according to market estimates, China holds about $ 1.15 trillion of U.S. debt, the total foreign holdings of U.S. debt of 26% and the remaining 20% ​​for Japan, the United Kingdom 8%, Brazil 5% and 3% of Russia.

China-US relations

In the general interest of the United States to answer before the debt issue, the main Locke in his speech about his feelings and his family as well as Sino-US relations.

“My wife and our children Aimi Li, Dylan and Madi Lin is excited to move to Beijing.” Locke said,

“At the individual level, can serve as a child of Chinese immigrants land on behalf of the United States I was born, and my family cherished American values, standing before you, I am both humbled and honored.” Locke said, “I can only imagine I The father died in January, to see his son become his and my mother was born in the land on behalf of the United States, the first Chinese American, is how proud. ”

China-US relationship is the focus of the content of speech Locke. He pointed out that the two countries have an extremely important and complex diplomatic and economic relations, this relationship there are challenges, there is no doubt, but also expanded cooperation and collaboration of great hope.

“I look forward to work together with the Chinese government hopes to achieve this, but more importantly, to create both Obama and President Hu Jintao to pursue a positive, cooperative and comprehensive relationship.” He said, “As you know, the next week we will welcome Biden vice president, he will visit Beijing and Chengdu. ”

Prior to the White House said that U.S. Vice President Biden starting from August 16 to visit China, Mongolia and Japan, with leaders of these countries on a wide range of bilateral, regional and global security issues. Biden’s visit will open a series of visits between China and the U.S. in the second half of the prelude.

Trade with China

In previous political experience, Locke meritorious in trade with China: He has twice served as the U.S. Joint Commission on Commerce and Trade Co-Chair, and urged China to improve market access and strengthen protection of intellectual efforts to help U.S. companies increase China sales.

Period as Minister of Commerce, Locke is Obama “National Export Plan,” the vanguard, which aims to make U.S. exports to double by 2015.

Although this is not Locke in his inaugural speech emphasized on the trade, but the arrival of Locke won the foreign-funded enterprises in China and the United States welcomed.

Chinese American Chamber of Commerce President Dian Hua on the “First Financial Daily” said: “Locke, when U.S. Secretary of Commerce strongly supports U.S. companies in China and we think he is a prime candidate for ambassador.”

Locke was the United States regards China as an emerging export market prices is essential. In May 2011 speech, he said the two countries are facing an economic turning point, people will see the “purchasing power of Chinese consumers will buy more U.S. goods and business services”, and “China and the U.S. innovator will develop breakthrough technologies work side by side. ”

Chinese American Chamber of Commerce Mengke Wen said: “Ambassador with Locke, we also believe that improving the basis for sustainable growth in China business, for U.S. companies with long-term interests of the Chinese economy.”

Locke Biography:

Locke (Gary Faye Locke), American-Chinese Democratic Party politician; January 21, 1950, was born in Seattle, Washington, USA, native of Taishan, Guangdong, China Ming Xiang Wan Tau II Jilong Village (now Guangdong Taishan water step Mayor Tong Jilong village); is the third generation immigrant families. From 1997 to 2005 served as the 21st U.S. state of Washington governor, is elected as the first Chinese American U.S. governor, March 8, 2011 Obama was appointed as Federal Minister of Commerce 36th term. March 8, 2011 U.S. President Barack Obama nominated as ambassador to Locke. June 23 U.S. Senate Foreign Relations Committee will nominate Ambassador Gary Locke presented the hospital to vote. U.S. Senate July 27, 2011 vote, unanimously approved the current Commerce Secretary Gary Locke as the U.S. ambassador. Officially became the first Chinese American history ambassador.

Personal experience:

January 21, 1950, was born in Seattle, USA, five brothers and sisters at home ranked second

In 1972, graduated from Yale University political science degree

In 1975, a law degree from Boston University

In 1982, the campaign on behalf of Washington state, and successfully won a seat, after eleven years has been working in the legislature, a former deputy prosecutor of the county

1988 – 1994, he served as State Chairman of the Appropriations Committee, oversees the budget

1993, was elected King County (King County) the Chief Executive, King County, Washington state’s largest county

1996-2005, he served as governor of Washington State United States of America

2005 -2009, in Tetelimei for law firms, to take care of matters related to China (during the period: in 2007, received an honorary doctorate of Peking University)

June 23, 2009-2011, United States of America 36 Minister of Commerce

June 23, 2011 – U.S. Senate Foreign Relations Committee vote, approved the Secretary of Commerce as the United States of America in Locke’s Republic of China Ambassador Extraordinary and Plenipotentiary

July 27, 2011, the U.S. Senate voted unanimously to present Minister of Commerce Gary Locke as the new ambassador. Locke became the first Chinese American history ambassador.

August 1, 2011 9 (GMT 2), Locke in the U.S. State Department was sworn in as U.S. Ambassador to China.

At 21:40 on August 12, 2011 Xu, the new U.S. Embassy, ​​”Master” with Locke and his family arrived in Beijing Capital Airport.

Beijing-Shanghai high-speed rail will fail as soon as possible out of the focus period

Railway operations data show that 1 to 13 July, the Beijing-Shanghai high-speed rail operations EMU trains were opened more than 2,500 columns, daily open-line 180 or so daily visitors to send 16.5 million, 19.7 million people in the highest daily average attendance 106%, a strong passenger traffic. But recently, several failures occurred, so just open the Beijing-Shanghai “artery” embarrassing.

July 14, PRC Ministry of Railways spokesman Wang Yongping guest, details from the Beijing-Shanghai high-speed rail has three reasons for failure, and on behalf of the railway sector once again apologized to the public. “Responsibly tell you that the railway sector is doing its best with the fastest speed out of the Beijing-Shanghai high speed railway, the fault is relatively concentrated period, I hope you understand and support us.”

Why exactly 3 failures sky?

Were due to: additional catenary wire burned, after EMU Pantograph damage, and EMU traction transformer wires in poor contact

Beijing-Shanghai high-speed rail has appeared three times a failure, the Ministry of Railways spokesman Wang Yongping said, “the Beijing-Shanghai high-speed railway has exposed some problems, mainly the device is in run-in period, there have been some failures, while not affecting the safety, But a greater impact on the running order. ”

At 17:59:54 on on July 10, Beijing-Shanghai high-speed rail Tengzhou East Station, the downstream side of Shanghai additional catenary wires, which power supply lines, failure, interruption power 1 hour 37 minutes.

According to Wang Yongping introduced by the Ministry of Railways investigation, failure for the following reasons: high-speed rail to provide power to the catenary wire attached, install a non-tension hanging in the gravity to allow a certain degree of relaxation, windy swing will occur. July 10 regions of 9 Tengzhou thunderstorm winds, strong winds caused additional wires swing. Caused during the swing side of the column near the canopy and canopy columns plus line distance between the lack of insulation, wire-to-column discharge blown canopy. Wires blown, resulting in termination of the catenary power supply, so the train outage.

At 10:45 on July 12, G102 second high-speed EMU trains in the Beijing-Shanghai high-speed rail Suzhou East Station, bow-net fault occurs, uninterrupted power supply 2 hours 17 minutes.

According to Wang Yongping introduced by the Ministry of Railways investigation, G102 times EMU electric train for two-bow by the former pantograph (EMU head of the antenna) site by accident when the pantograph and catenary normal state, then by the power bow damage, triggered a bow-net faults, interrupted power supply. As the specific technical reasons more complex, still-depth analysis.

July 13, G114 second part of EMU cars without traction power output, traction is limited to full-out, run the maximum speed of about 160 km. Beijing-Shanghai high-speed rail in order to ensure the overall transport order in Zhenjiang South Station to start the backup car to replace a failed car, and finally south to Beijing about delayed 2 hours and 40 minutes.

According to the Ministry of Railways investigation and analysis, cause of the malfunction, G114 second EMU traction transformer differential current monitoring and protection circuit for sensing the current wires, poor contact failure, resulting in protection action, limiting traction current, which limits the operating speed.

How to look at the Beijing-Shanghai high-speed rail failure?

From international experience, high-speed rail in the run-in period of failure is relatively concentrated, but the railway sector will strive to shorten the period of adjustment

High-speed rail is a complex technical system, climate, environment and many other factors, high-speed rail in the operation process will face a variety of challenges. So how to look at the Beijing-Shanghai high-speed rail failure?

Wang Yongping that the Beijing-Shanghai high-speed rail operators have just opened soon, all kinds of equipment, personnel still in the running-in stage. He cited the “reliability engineering ‘bathtub curve’ theory ‘,’ products into the scrap from the entire life cycle so far, showed some changes in the reliability of the law can be divided into three stages: early failure period, occasional failure period serious fault period. products in use in the early and late accident-prone, which may also apply to the Beijing-Shanghai high-speed rail. “Wang Yongping said,” However, we still have to find ways to prevent and eliminate early failures, and strive to shorten the run-in period, into operation as soon as stable. ”

From the historical point of view of international rail operations, the initial opening and operation of new railway lines are relatively concentrated period of failure. According to Wang Yongping introduction, France, Germany, Japan had just opened when the high-speed rail, have experienced similar failures. December 4, 2010, Tohoku Shinkansen opening and operation of the first day on the outage due to failure 1 hour. January 15, Tohoku Shinkansen were two successive failures, resulting in Tohoku Shinkansen Yamagata Shinkansen and Akita Shinkansen outage, after more than four hours of repair, before resuming operation. January 17, Tokyo Shinkansen train control system could fail, leading to the northeast, on Vietnam, Akita, Yamagata and Nagano Shinkansen lines 5 all trains stop running, the longest delay time of 2 hours and 13 minutes, more than 80,000 travel affected.

“A failure to stop” is a technology, but it?

The sensitivity of high-speed rail passenger safety on security, on security issues, rather sensitive, and must not risk

Some people think that, compared with the conventional rail, high-speed rail too “fragile.” It was also questioned each encounter failure immediately stop high-speed rail is technically, but are off.

In fact, high-speed train this rapid sensitive response, it is the industrial design in the “people-oriented” expression is based on passenger safety protection.

Wang Yongping said in relation to other modes of transport, the train to withstand bad weather, and does have certain advantages, but that does not mean that the train in any weather conditions are smooth. In particular, is 300 kilometers per hour to run high-speed train, when the weather may pose a threat to the safety of the train, its first reaction is to automatically cut off power in the shortest time to stop running, to ensure passenger safety.

“High speed train this rapid response is not sensitive to the ‘delicate’ this ‘fault-oriented safe’ design and technology system is the world’s high-speed rail in the operating process widely used concept in security issues, we would rather sensitive to , must not take risks. “Wang Yongping said.

Wang Yongping said that despite a spate of failures, but the Beijing-Shanghai high-speed rail technology is advanced and mature, the main quality indicators project reached the best level of similar projects and the world advanced level, and built, including operation and maintenance, anti-disaster impact on within a set of security system.

“All systems are high-speed rail in accordance with ‘fail-oriented security’ concept design, with very high safety and reliability because of this, regardless of the line, vehicles, catenary, signals and other communications to any aspect of any point a problem is detected, the system will follow this design principle, adopt safety measures to deal with auto-oriented. “Wang Yongping introduction, the Beijing-Shanghai high-speed rail used CRH380 high-speed trains is set on more than 1,000 test sensors, a fault is detected when the train signal, immediately launched the emergency response, until the automatic deceleration stop. For example, sometimes visitors smoke in the car in violation of regulations, monitoring the fire alarm will cause the train, leading to half-way stop. “This highly reliable, highly sensitive monitoring of the safety protection system, although passengers will travel some effect, but fundamentally prevent train accidents, can effectively protect the safety of passengers.”

How to prevent and eliminate the recurrence of similar failures?

Beijing-Shanghai high-speed rail safety inspection has begun, the railway sector is also to prevent failure and improve the ability to respond to emergencies

Railway operations data show that 1 to 13 July, the Beijing-Shanghai high-speed rail operations EMU trains were opened more than 2,500 columns, daily open-line 180 or so daily visitors to send 16.5 million, 19.7 million people in the highest daily average attendance 106%. Train departure punctuality rate of 94%, and finally to the punctuality rate of 85.6%. The existing Beijing-Shanghai and Beijing-Shanghai high-speed rail line to send passengers daily total 24.5 million, compared with before the opening, the Beijing-Shanghai railway passenger transport corridors as a whole an increase of 8.1 million, an increase of 46.2%.

Faced with such a large passenger flow, the Beijing-Shanghai high-speed rail to prevent and eliminate such failures happen again?

Wang Yongping said before the Beijing-Shanghai high-speed railway, Beijing, Jinan, Shanghai Railway Bureau under the jurisdiction of dispatching and equipment were prepared for the Beijing-Shanghai high-speed railway emergency plan. Beijing-Shanghai high-speed rail in the run during the test, also organized emergency drills. This occurred after several failures, the railway sector immediately launched the emergency plan, organize repairs.

“This length of 1318 km, from one station up to nearly 100 km of high-speed railway, in all types of organizations within two hours to complete the repair, has been very difficult. Of equipment failure affecting passenger travel, we are Sorry, and also to minimize such problems. but look at the speed of repairs, railway workers or make their best efforts. “Wang Yongping said.

Failures for the recent problems, the Ministry of Railways attaches great importance to an emergency meeting of the failure analysis and the safety of all road transport teleconference. Ministry of Railways requirements, operating units, construction units and train manufacturer, to take effective measures to ensure safe and orderly running Beijing-Shanghai high-speed rail.

Currently, the Beijing-Shanghai high-speed rail has begun safety inspection. Comprehensive inspection of equipment and facilities problems, EMU out of storage quality, along the security and emergency plans, identify problems and take immediate measures to limit regulation to effectively improve the operational stability of the device, to ensure operational safety.

At the same time, various types of contingency plans are refined sound. Beijing-Shanghai railway authorities stepped up along the EMU drivers, dispatchers, vehicle mechanics, passenger services, emergency response personnel and other key job retraining, in order to better serve travelers.

According to Wang Yongping introduction, asked the Ministry of Railways is responsible for operational management of the Beijing-Shanghai high-speed rail Railway Bureau, the major leaders personally started to grasp the Beijing-Shanghai high-speed rail operations management, professional and technical cadres sent to the front line duty, and timely disposition of the organization to ensure the safe operation of .

“High-speed rail is not fragile, and we still very advanced technical equipment, qualified the railway sector is also effectively improve the ability to prevent failure and the ability to respond to emergencies. After continuous exposure to conflicts, resolve conflicts, the Chinese high-speed rail will will be shown even more remarkable. “Wang Yongping said.

Securities Times OnlineJune 15 News Department of Commerce today released data show that the actual use of foreign investment in China in May (FDI) increased by 13.43%. Before the May actual use of foreign (FDI) rose 23.4%.

Ministry of Commerce spokesman Yao in today’s regular press conference that, in May, the actual use of foreign investment 9.225 billion U.S. dollars, an increase of 13.43%. Actual use of foreign investment from January to May $ 48,028,000,000, an increase of 23.4%. 1-5 months, from the source of investment, Asia and EU investment in China rose, the United States declined. From the industrial structure, agriculture, forestry, animal husbandry and fishery more than the actual use of foreign investment growth in manufacturing and services sectors. From the regional distribution, the central and western regions than the actual use of foreign capital growth rate continued in the east.

Following is the text Record:

Third, on the use of foreign capital

According to Commerce Department statistics, in May, China newly approved 2391 foreign investment enterprises, up by 12.15%; the actual use of foreign investment 9.225 billion U.S. dollars, an increase of 13.43%. 1-5 months, the newly established foreign-invested enterprises 10,543, an increase of 9.39%; the actual use of foreign investment 48.028 billion U.S. dollars, an increase of 23.4%.

Source from the investment perspective, Asia and EU investment in China rose, the United States declined.1-5 months, the ten Asian nations / regions (Hong Kong, Macao, Taiwan, Japan, the Philippines, Thailand, Malaysia, Singapore, Indonesia, South Korea) China newly established enterprises in 8409, an increase of 9.92%, the actual use of foreign investment $ 41,236,000,000, an increase of 29.28%. EU investment in China 27 700 newly established enterprises, an increase of 17.45%; the actual use of foreign investment 2.929 billion U.S. dollars, an increase of 9.02%. U.S. investment in 598 newly established enterprises, down 3.7%, the actual use of foreign investment 1.285 billion U.S. dollars, down 24.12%.

From the industrial structure, agriculture, forestry, animal husbandry and fishery more than the actual use of foreign investment growth in manufacturing and services sectors.1-5 months, agriculture, forestry, animal husbandry and fishery newly established foreign-invested enterprises 274, down 7.43%, the actual use of foreign investment 814 million U.S. dollars, an increase of 28.16%, respectively, over the same period accounted for 2.6% of the national total, and 1.69% . Newly established foreign investment in manufacturing enterprises 4446, an increase of 14.91%, accounting for 42.17% of the national total over the same period, rose by 2.03 percentage points; the actual use of foreign investment 22.217 billion U.S. dollars, an increase of 20.63%, accounting for the same period 46.26% of the total, representing a year earlier, down 1.06 percentage points. Service sector foreign-invested enterprises newly established 5218, an increase of 6.84%; the actual use of foreign investment 22.29 billion U.S. dollars, an increase of 27.68%, respectively, over the same period accounted for 49.49% of the national total, and 46.41%.

From the regional distribution, the central and western regions than the actual use of foreign capital growth rate continued in the east.1-5 months, the eastern region newly established foreign-invested enterprises 8978, an increase of 10.11%, accounting for 85.16 percent over the same period of the national total; the actual use of foreign investment 40.808 billion U.S. dollars, an increase of 19.65%, accounting for 84.97% over the same period of the national total . Central newly established foreign-invested enterprises 1069, an increase of 8.75%, accounting for 10.14% over the same period of the national total; the actual use of foreign investment 3.534 billion U.S. dollars, an increase of 43.75%, accounting for 7.36% over the same period of the national total. Western newly established foreign-invested enterprises 496, down 1%, accounting for 4.7% of the national total over the same period; the actual use of foreign investment was 3.687 billion U.S. dollars, an increase of 56.44%, accounting for 7.68% over the same period of the national total.

【Abstract】 live the Ministry of Commerce

Department of Commerce: pork consumption will enter the season confident of price stability

Commerce Department: pig slaughtering and food will enhance food safety management, etc.

Department of Commerce: Export growth for two consecutive double-up on import and export prices fall

Department of Commerce: May a major consumer of the overall stability of prices of agricultural products

Department of Commerce: National Anti-Monopoly Committee has been set to the State Council approved

Department of Commerce: Imports grew faster than exports will continue to reduce the annual surplus

Department of Commerce: Export of raw materials and rising costs facing difficulties such as

Department of Commerce: China will be submitted to the WTO as soon as the list of government subsidies

Ministry of Commerce, June regular briefing text Record

“If you get the coal contracts, on-site will give you 100 dollars per ton!”

“Person in charge of mine-related requirements by 500 yuan / ton bill, have to middlemen to 580 yuan / ton pay, the difference of 80 dollars into the pockets of individuals.”

Shanxi, a “coal trader” In a recent conversation with reporters, inadvertently opened by a crazy reselling the interests of the coal chain. As a result, key coal contract fulfillment rate is not high, power plants and power generation would prefer to sell the contract do not want to cause power shortage in the number of riddles solved one by one.

At 18:00 on May 10, the night draws near. Drove rushed from Taiyuan Xinzhou, rows of buildings, clean streets, in the dim darkness, did not feel the intricate relationship of coal here.

Drivers of them are known as the Xinzhou “Taiyuan back garden”, every weekend, the boss will have senior officials to carry coal, coal dealers gathered here, hot springs, do business.

19:30, coal dealer Qiong (a pseudonym) to the “Daily News” reporter called and agreed peace road in Xinzhou, “ranks the fourth Pig shop” to meet.

8, when the reporter arrived the store, Qiong has waiting for them. General appearance, white shirt with purple wool vest, the biggest difference is with the locals – he in the hands of the Chinese smoke.

Seated, Qiong immediately greeted Waiter: “beer, to be the best.”

Waiting for food and wine in the interval, Qiong told the “Daily News” reporter, who just returned from the afternoon Shuozhou back, before the wagon had just sent away a total of 1.6 million tons of coal 4, the buyer is a thermal power plant in Zibo, Shandong, price 625 yuan / ton.

Coal comes to business, seems tired before Qiong swept away. He said excitedly, “and you want to, I just sold the coal is 5500 kcal.” At this point, the waiter two bottles of Tsingtao Pure Health, Qiong first to dry cup.

“Businessmen have generous about trading in Xinzhou, first of all must have some.” Said Zhang Qiong, Xinzhou is a good place, an hour’s drive from Taiyuan, the coal business to do a lot of people would choose to Xinzhou as the venue for negotiations.

Orders at the mystery of coal

A simple conversation, see the press is still doubtful of its master’s coal contract, Qiong initiative to explain the source of his contract: “coal contract orders from the National Coal Council.”

Orders will be provided by coal, thermal coal contracts need to have qualified the state-owned coal power plants and direct sign, but Qiong said he can make use of internal power relations, “the amount of coal needed in the power plant order can sign the contract.” For Which Which power plants and coal from coal mines, Qiong commercial secrets are no longer mentioned.

Prior to that, “Daily News” reporter noted that trading in the China Coal Information Network, Shanghai coal trading network, and other sites, there are a lot of information on electricity supply.

May 10, Qiong information is also available online: “Our long term coal supply in Shanxi local contract, 4000 ~ 6000 kcal, low price and excellent quality, tax or duty may be.”

Electricity for the information published online, Qiong attempt to further eliminate concerns of journalists. He said the information published online brokers, in addition to got to give up power plant due to the coal contract prices, the coal brokers more orders at the form of a private commission, by a qualified power plants and electricity supply mine more than a contract.

“For example, power plants and coal purchase contract signed by 50 million tons, while maintaining normal operation of the plant only 40 million tons, and the remaining 10 million tons into the contract is entirely possible to the market.” Qiong told reporters.

Three transition into the contract coal transportation

By tipsy feeling, Qiong, then gradually increased: “focus of the contract is more than 5500 kcal of coal quality coal, profit margins will be even greater.”

Qiong told reporters that the current coal price differential between coal and the market has more than 200 yuan / ton.

Learned that in Shanxi Yangquan coal Juban Jia has recently risen to 5500 kcal 610 yuan / ton. Meanwhile, on May 11 of the Qinhuangdao Port coal price rose 5 yuan per ton, on the Bohai Rim markets steam coal 5500 kcal comprehensive offer 820 yuan / ton. Coal, thermal coal and the market price difference of 210 yuan / ton.

“Because a huge difference between coal and many have signed contracts for coal finally entered the market, rather than to the hands of power plants, coal contract fulfillment rate is the best proof.” Qiong said.

2011 summary of meeting the national coal supply contract, a charge of fuel procurement for many years people had said the contract coal mining companies issued more than 90% of the amount of focus on contract coal, but the plants only received 60% less than the focus of signing the contract the amount of coal .

“Statistics of the key coal enterprises coal contract fulfillment rate is in accordance with the contract, given the number of statistics, and power generation companies received in accordance with their own statistics the number of coal.” China Coal Transportation and Marketing Association, market observers Li Zhaolin to the “Daily Economic News” reporter pointed out.

For more than 30% of the final flow of key contract coal, Li Zhaolin said, because the coal by rail, we can say 30% of the focus of the contract during the transportation of coal is the “Transition” change for the market coal.

Shanxi Coking Coal Group, an insider to the “Daily Economic News” told reporters: “As long as signed a coal supply contract, supply of coal will be one hundred percent.”

“In fact, the contract coal rail transit is variable type, wagon train hard to grant, but as long as coal shipments, allowing the rails to fully operate a coal dealer.” Talking about the interests of transport links, Qiong smile.

In Li Zhaolin eyes, even if the coal mine will be increased by the market, but involves a huge amount, combined with the market price of coal per ton over hundred different coal transaction is favorable for coal dealers.

If you do 2000,3000 kcal for coal, Qiong said, “one ton and sold 300 dollars, and no space can be controlled, high-quality coal is more focus on the contract favored by the market.”

China Coal Transportation and Marketing Association is responsible for China’s coal supply and demand summary statistics, every year the contract. Notice in accordance with the NDRC, 2011 summary of China’s coal contract amount was 9.32 million tons, which focuses on the total amount of 769 million tons coal.

“The bottom line compared to ensure the electrical safety of 3.8 million tonnes (single volume of 30 tons and over) are key contract coal price Development and Reform Commission, the remaining 389 million tons with the focus on coal, transforming the market coal greater probability. “Li Chaolin revealed.

According to an analysis of the coal industry, the focus of the contract by 380 million tons of coal size, approximately 30% of the difference in performance, which led to focus on transforming the market coal the amount of coal at least 1 million tons. Press again to verify the authority of the person that, together with key contract coal into electricity than the market size is absolutely not on this scale, at least over 200 million tons.

Coal, thermal coal market, the track turned

To plug the “electricity market,” the source, the National Development and Reform Commission released in December 2010 “on the transportation of coal production well 2011 to be convergence of the notice” not only the provisions of the contract price of coal, rail transport capacity allocation remains unchanged, In addition to supply and demand also explicitly requires companies and railways, the Ministry of the door, no other units are not allowed to seal the contract.

The move for Development and Reform Commission, Zhang Qiong disagree, “even if countries want to block the source, but the power loss increase, the difference so big, coal is now reselling the largest capital in their hands, not just buyers and sellers to profit, This is something of interest taking in the chain. ”

Transformation of the market for coal, thermal coal, the industry pointed out that the mine has its own problems: “Some contracts for coal mining coal into the market knowing that the transaction will be issued in the case.”

Qiong also been confirmed this: “For example, focus on the contract price is 500 yuan / ton, the market of coal is 700 yuan / ton, the mine requires the responsible person by 500 yuan / ton billing, but it requires brokers to 580 yuan / t pay. So, 80 dollars / ton, the difference is the tip, into the personal pockets. ”

He showed reporters a coal “turned” market path of coal: “get the electricity contract, as a trading company, minus the pull goods to the mine when the person in charge of the cost, I would add to 650 yuan / ton, after all, the contract coal, some of which are key contract coal, which is lower than the market price. ”

Industry sources, including five power generation groups, including power companies, are generally associated with private coal trading companies, commissioned by the trading company for sourcing the required coal.

It is these “middle person” in reselling contract coal, brokers tend to focus on contracts in the coal and the market price of coal between the two and then determine a price, several parties in order to ensure win-win.

Qiong said: “once again changed hands to downstream intermediaries power plants, chemical industry, steel mills and other enterprises, the increase again, and thus, the contract changed hands several times after the coal from the market price of coal is completely deformed.”

Qiong said: “Now as long as you can get coal contracts, on-site can give you 100 yuan per ton.”

“The market economy, and people do business, as the parties in the coal trade, no one wanted to make money and enhance profits.” Huozhou coal a person in charge told the “Daily News” reporter.

For the main body of electricity trading, a market observers believe that no matter what channel intermediaries to obtain electricity through the contract, because the power plant, fuel companies are required to sign the leadership in the current situation of loss of power companies, even some power plants reselling contract coal to reduce losses.

9:50 that night, and journalists have been near the end of the conversation, Zhang Qiong slightly excited and said: “These are power plants and coal trafficking of people within the collaboration, there is no special relationship, is difficult to get involved.”

SERC Research: contract fulfillment rate decreased

May 23, “Daily News” reporter from authoritative sources that, in early May, the State Electricity Regulatory Commission Office of Central Electricity Regulatory Authority arrangements in Hubei and Jiangxi provinces were selected more than two million installed capacity of thermal power enterprises carry out research . Research found that, in addition to large increases in the market price of coal, part of the key coal mines disguised inflation, the price of coal fired power key coal contracts signed decreased, cash rates fall, the market of coal increased.

CEC experts on statistics, coal contract fulfillment rate showed a declining trend, more than 30 million tons in 2010 focus on coal contract fulfillment rate is less than 50%.

The industry source said: “After all, cash is low, statistical differences, will directly affect the thermal power generation enterprises, increasing the current power shortage.”

CEC forecast shows that the year 2011, China’s electricity consumption is expected to about 4.7 trillion kwh. Thermal power generation accounts for about 80% of total electricity generation capacity. In other words, the national thermal power generation in 2011 is projected at 3.76 trillion kwh.

Required by the State Development and Reform Commission, the current coal consumption of power per kilowatt thermal power plant of 360 grams of standard coal, or 1 ton of standard coal can power 3,000 kwh.

After conversion, thermal power plants in China in 2011 needs at least 12.5 million tons of coal. National Development and Reform Commission provided 380 million tons coal contracts with them key difference between the 870 million tons, coal gap of at least 69.6% of total demand accounted for.

Electricity for the smooth gap, there are traders said the market five coal Power Group purchased the proportion of each year at least 60%. “Contract rate is relatively low, and the contract Coal and poor”, one of five major power confirmed by an insider, “Coal and relatively good market, we are also a large part of the purchase through intermediaries.”

Meanwhile, the “Daily News” reporter was informed, Luan ring to (601699, SH) pit this year the contract price of coal is about 440 yuan per ton, the market price of coal pit about 520 yuan to 560 yuan. The average settlement price for a quarter of the coal is about 830 yuan per ton. Data conversion show that the middle part accounted for about 36% of coal. The former general manager of China Datang Corporation, has said publicly Zhai Ruoyu, fuel costs accounted for 70% of total electricity generation costs more.

Insiders pointed out that electricity into the market by reselling the same time, lack of stored coal power plants; plant is forced to purchase high-priced markets to maintain production of coal, electricity situation in the complex under this cancer continued losses for the current power plants planted “curse.”

IIn late March, Unilever (China) Co., Ltd. interview the person in charge repeatedly made remarks on product prices, the news media repeatedly reported on Unilever brands such as prices of products will be in April, attracted general public concern, some cities in the phenomenon of buying cosmetic products. In this regard, the National Development and Reform Commission attaches great importance to instruct the Shanghai Price Bureau of Unilever (China) Ltd. to carry out inspections according to law behavior, and interviews with Unilever (China) Ltd, who checked in accordance with the law requires During the stay of execution scheduled for April 1 the price adjustment plan.

Been identified, Unilever (China) Co., Ltd. in March this year, the price adjustment letter sent to the major supermarkets, some days notice Unilever brand products prices from April 1. The person in charge of the company since March 21, 2011 starting number of interviews Evening News, Shanghai Daily, China Business TV, Business Daily, Xinhua News Agency, “Network in China”, Beijing News, Xinmin Evening News, Guangzhou Daily News and other news media interviews, published “Day of the industry into a price cycle,” “does not exclude the possibility of a second price” and other remarks.

These actions led to price hikes on the information dissemination products, and enhance the consumer price expectations, causing part of the city occurred at products to buy, at the individual supermarket sales of Unilever’s products during normal times or even more than ten times and seriously disturbed the market order.

Unilever (China) Co., Ltd. in violation of the above-mentioned the “PRC Price Law” Article XIV, the “price illegal administrative penalties” to Article VI (a) of the Convention, are “spread price information, disrupt market price order, “the price behavior, a serious case, the larger social impact. But given interview after the company publicly announced the suspension of the price adjustment to apologize to consumers, take the initiative to reduce harmful consequences of violations, according to the “price illegal administrative penalties” to second paragraph of Article VI and Article XVII (a) items and the “PRC Administrative Punishment Law,” twenty-seventh paragraph (a) of this article, the Shanghai Price Bureau decided to Unilever (China) Limited, an administrative penalty of 200 million fine .

National Development and Reform Commission pointed out that the implementation of daily chemical products regulated by the market, operators are legally entitled to own pricing, but the behavior of the operator to adjust the price should strictly observe the “Price Law” and “anti-monopoly law,” “administrative penalty provisions of price behavior “and other laws and regulations, to follow fair, lawful and good faith, and shall not collude to fix prices, not the abuse of dominant market position selling products at unfairly high prices, price spread false information shall not disturb the market order, not maliciously publishes prices information to test the market reaction, tacit collusion with competitors, cooperative prices.

National Development and Reform Commission, said the information on the spread price rise caused by market fluctuations, in particular, panic buying and other damage is caused by the behavior of the market order will be severely punished, severely punished, and never allow unscrupulous operators to wanton destruction of the market order, impair the interests of consumers.

National Development and Reform Commission stressed that all operators of the market share in particular are more influential in the industry enterprises to effectively learn a lesson, the price increase legal awareness and social responsibility, in strict accordance with the exercise of independent pricing, effectively regulating their own price behavior, price information and consciously to prevent spread prices disrupt the market order offenses.

Related News:

NDRC: Master Kong after warning interviews with the suspension of active price adjustment

May 6, the National Development and Reform Commission to investigate the person in charge of Unilever (China) Limited spread price information issues related to disrupt the market order the press conference, during which revealed that on March 27, the National Development and Reform Commission interviews Master Kong, the Master Kong actively cooperate with the state regulatory policies to stabilize prices, suspend scheduled for April 1 implementation of the price adjustment plan.

Unilever responded fined: Understanding the decision to respect China’s national conditions

Unilever afternoon sent a statement to the NetEase, said Unilever as a long-term commitment to China’s multinational corporations, to fully understand China’s national conditions and respect for national Development and Reform Commission and Shanghai Municipal Price Bureau’s decision.

Unilever also said that as a responsible multinational company Unilever has always complied with Chinese laws and regulations and Unilever global business standards.

Development and Reform Commission to investigate and deal with Unilever spread information about disrupting the market prices of the Question and Answer

Q: What is the price spread information is related to how the price provisions of laws and regulations? Please tell us about the specific circumstances of the case

A: The laws and regulations of the price spread price information on the forms and legal responsibility to make a clear requirement. “Price Law” Article XIV, the operator shall not utter or disseminate price information, driving up prices, pushed commodity prices to rise excessively behavior; “price illegal administrative penalties” to the provisions of Article VI clearly operating in violation of the Price Law the provisions of Article XIV, fabricating and spreading price information, disrupt the market price order, and ordered to make corrections, confiscate the illegal income, 5 times the illegal income and impose a fine; there are no illegal gains, more than 5 million 50 million less fine, serious cases at from 500,000 to 3,000,000 yuan shall be imposed; circumstances are serious, shall be ordered to suspend business for rectification, or the administrative department for industry and commerce shall revoke its business license.

In late March, rumors of price increases for products on the message triggered panic buying in some cities, the State Development and Reform Commission is in consultation with the local price departments involved in the investigation, according to evidence. Been identified, Unilever received a number of responsible person and issued a media statement on product prices, increased consumer prices is expected, causing part of the city occurred at products to buy, seriously disrupting the market order, constitute the “spread price information, disrupt the market price order,” the price behavior, the facts are clear evidence.

First, the person in charge of Unilever received several news media published a lot of comments on product prices, and was widely disseminated.

(1) March 21, Unilever spokesman Tin Man has received the first Financial Times interview, said: “Day of the industry in China is a fully competitive industry, the brand is very large, consumers are relatively sensitive to price , competitors are watching each other yet, and can only slowly adjust the point, look at the competitors to follow up. ”

(2) March 22, Unilever spokesman Tin Man had to accept the Beijing News as saying: “fast moving consumer goods industry is the downstream industry, upstream and downstream from the current chain reaction, the whole industry into a price cycle . ”

(3) March 22, Unilever spokesman Tin Man has accepted Evening News interview, said: “prices through a process of wait and see, everyone who is waiting for the first price adjustment,” “If our competitors No follow-up, then we will certainly miserable, so we just gradually adjust the product price, “” again if the recent rise in raw material prices and stabilize prices do not rule out the possibility of a second. ”

In addition, Unilever spokesman Tin Man has received Daily News interview, said: “The price rise is expected in April, is currently not allowed said. Now prices of raw materials, future product prices is imperative. “accept the Xinhua News Agency,” China Network in “interview, said:” Next month the company more than prices of supplies will increase about 10%, mainly because of upstream raw materials of petrochemical products, vegetable oil, inorganic chemical products increased by an average of 40 recent %, and directly contributing to the cost of supplies increased by about 20% “,” In fact, some categories of supplies in the gross margin is not high, such as washing powder is about 10% gross margin, a number of small businesses already barely, and only the big Our products are not price increases, prices of small companies did not dare. ”

Unilever Second, information on product prices after the widely reported by news media, and enhance the consumer price expectations, lead to some major cities buy products at the individual supermarket sales of Unilever’s products at more than the normal period several times or even ten times, seriously disrupting the normal market order. According to the Shanghai Oriental TV Station March 26 broadcast of “Oriental News” program shows that on March 26 some supermarkets in Shanghai were sold out at the counter products, supermarkets too late replenishment; one person interviewed said that flustered the consumer. According to Shanghai, Xi’an, the data provided some supermarkets, in late March on product sales increased significantly. According to the investigation, Unilever spread price information the previous week (March 14-21 days) and after the week (March 22 -30 days) than sales volume, Shanghai supermarket sales volume at the average growth of 21.2 times, which Unilever’s part of the single items up to six or seven times the sales growth, such as automatic detergent 4.0kg secret supermarket in Shanghai RT-Mart stores sales increased 14 65 times; Xi’an, China Resources Vanguard Life Supermarket secret automatic gold Textile washing products, promotions and other specifications of equipment 1.7k 22 March sales surge began, March 25 sales reached about 100 times the normal level.

Third, Unilever spread information about the behavior of prices, if not to stop the promotion of products at high prices rising too fast. In the competitive market conditions, the operators for fear of losing market share, for the price very carefully. Price information in advance to take high-profile release and other means, through the media coverage focused to test the market response, and hope to follow up prices of competitors, giving competitors a mutual coordination between the pricing strategies of the time, and then reached a price of collaborative behavior, maintain market share on the basis of constant prices of the industry group. According to data provided by Unilever, 2010 Unilever shampoo category, wash skin type, clothes washing products accounted for 12%, respectively, 12.6% and 15.2% market share of the market have a greater influence on prices . Unilever spread price information in advance, if not stop, it could lead to price adjustment within the industry companies are promoting products at higher prices. In fact, Unilever has confirmed that the price adjustment on April 1, Li Bai, NICE and other cosmetic companies are determined on April 1 and April 6 price adjustment. After a variety of reasons, these enterprises have suspended or canceled the price adjustment plan, daily chemical industry was able to calm the wave of price increases.

In summary, price information Unilever spread offenses disturb the market price order, a serious case, the larger social impact, according to the law should be severely punished, but given the interview after the company publicly announced the suspension of the price adjustment to consumers to apologize and take the initiative to reduce harmful consequences of violations, the Shanghai Price Bureau under the “price illegal administrative penalties” to second paragraph of Article VI and Article XVII (a), and the “PRC Administrative Punishment Law,” the second seventeen (a) of this article, Unilever China Ltd decided to make 2 million yuan as fine.

From a series of recent data, released by the Government, GDP rapid growth, rapid growth of import and export trade, retail and rapid population growth, foreign exchange reserves hit record highs, the economy boomed.

Can be said that this round of China’s economic growth, the biggest motivation is that the stock market and property price bubble to inflate the two assets. It is also in the two major property and stock markets, driven by asset price bubble, inflation began to come Chinese.

In the two asset price bubbles, driven by China’s current real estate economy in the end led to last? It can be said to present in terms of China’s economic boom, largely driven by real estate and its results. In order to develop the local real estate in many places, at the low-cost large-scale real estate developers to sell land, and then push these large-scale real estate developers, local housing prices, as an opportunity to stimulate the local economy. This is the current reflection of economic fundamentals.

It is in this sense, this round of economic growth, the situation looks good, but in fact are predatory ancestors left to put the resources into the wealth of future generations in the use of crazy, and all In the hands of those in power use. The current lot of many local governments in the transfer of land, which has the power of the people want the past, present and future of the wealth and resources to use in their own hands out of the capital in their own hands, changing hands in their own can flow into assets. In this way, the local GDP up, and individual performance up, the wealth of local growth, but people across the country, and our future generations will have to bear all the costs for this.

Also, as long as the rapid development of the real estate market, as long as housing prices soared, coupled with the rapid expansion of bank credit, the economy overheated simply inevitable, unless it is self-deceiving. On the current situation, as the domestic stock market bubble to inflate the real estate business to the stock market bubble is developing in depth. For example, this year, the rapid development of the stock market, which makes a lot of real estate companies out of dependence on bank financing from the stock market cycle to more than 1,000 billion of funds. Real estate business from the stock market a huge no-cost access to the funds (this is the view of the real estate developer), they will certainly all over the country a lot of “enclosure” is bound to push up the price of national land, and land prices Also bring a new round of rising prices around. Also, when the real estate development enterprises occupy a large amount of land after the land as they would in real estate development companies listed or to push the stock price of capital. These are precisely the interaction between the two asset prices, not only the two larger asset price bubble blowing, but also allowed to transfer to higher prices across the economy, so that rapid increase in domestic inflation, so that people across the country to take the two asset prices The cost of the bubble. Also allow the rapid expansion of bank credit, the market is awash with liquidity, which further inflate the price of the two major asset bubbles. In this way, the Chinese economy to real estate as the core to form a flood of liquidity – rapid surge in asset prices – Credit rapid expansion – inflation – is awash with liquidity and so the vicious circle.

Policy push compete with soaring stock market has been crazy, originally the Chinese stock market is a policy of the city, said that what the Government should not intervene in the stock market to the stock market bubble to inflate to allow people to share the results of reform, etc. (not seen a period of world history things on it so). That is, departments of the government’s macroeconomic control policy, making predatory use of the domestic economy to leave ancestral resources, predatory consumption of the surface of prosperity and create economic wealth, children and grandchildren, so that wealth within a short time into the pockets of minority population. Now popular slogan is everyone wants to get rich through a variety of ways. That the basic values ​​of our society is not hard to create wealth, but how to both wealth and other wealth transfer to the hands of individuals or units. In recent years, real estate developers, and management of securities, state-owned monopoly, the rapid growth of wealth is the result of such a popular idea.

This representation is followed by a plunder of the wealth of the whole society is a society within a few short-term transfer of wealth, is a sacrifice the interests of most people’s prosperity. It brings us more integrated society can only be the bigger the potential risks. Therefore, the Government of the comprehensive review of the past few years, when China’s economic development, and very simple, a nation loses the ability to think or the community must bear the serious consequences of the collapse of the bubble, 90 years after the last century, devastated the Japanese economy proves this point completely .

After the run-up to 6 years, recently, the world’s largest household goods retailer IKEA project in Wuhan, the final environmental impact report has been approved to open its first development effort in central China.

And Shanghai, Shenzhen, IKEA stores in different monomers, IKEA will be built in Wuhan area of 30 million square meters of a giant shopping center, IKEA is one of the main store in the mall. As a result, IKEA, or the route through “Moore” in commercial real estate.

Some analysts have pointed out that the competition is very fierce in the commercial real estate in Wuhan, but also constrained by lack of real spending power, and many other factors, before and after the investment of more than 3.0 billion items of the future IKEA shopping center in Wuhan earnings concern.

IKEA 3.0 billion restructuring of Wuhan-made “mole”

Yesterday (January 3), “Daily News” reporter learned that the IKEA shopping center in Wuhan Intel project was formally approved environmental impact report was approved by relevant departments of Wuhan City, which means that IKEA will officially open its development effort, Huazhong areas the first step.

According to “Daily News” reporter, IKEA proposed in the western district of Wuhan about 30 million square meters of this huge, “Moore City” will be officially put into use in 2015, after a total investment of close to 30 million, “to IKEA home as the core, shopping, dining and entertainment shopping center, will attract around 1 million an hour about the context of the local residents. ”

And IKEA in Beijing, Shanghai and other different modes of single store, “Wuhan Intel IKEA shopping center, IKEA is one of the main business.” President of IKEA Asia Pacific, said Duffy had told the media, respect will follow the introduction of IKEA more than 300 well-known brand businesses.

July 29, 2010, IKEA’s price to 604.1 million yuan in Wuhan Qiaokou forehead Bay won a 450 acres of commercial and financial sites. After just 4 months, Wuhan Intel IKEA shopping center project’s environmental impact report that has been approved, can be described as smooth sailing. In fact, IKEA Wuhan project from the beginning of the “market rumors” to today’s “official plan”, which lasted up to 6 years. As early as the end of 2004 the printing to spread the IKEA store to be built in Wuhan investment news.

Lan Hongbo, deputy director of Wuhan City, China Merchants to the “Daily Economic News” reporters, Wuhan, 2004 invitation to the IKEA made, but unfortunately that time IKEA little interest in Wuhan; 3 years, IKEA has finally took a fancy to Wuhan, like to exert central China. To this end, specialized in the recently opened in Wuhan area of the light rail line 1, an additional site for IKEA. Finally, adjusted for items in the Han IKEA, upgraded from the home store shopping mall.

Competition will be intense with

Regions in Europe, America and Japan and South Korea in the context of the furniture market weakness has been to develop the Chinese market, IKEA began to realize that 12 years of space than relying on district opened up shop at home more attractive single passenger, so a change had single mode, turn Embedded mall walking routes to speed up the pace of expansion.

IKEA is currently under construction in the mainland are two IKEA shopping center, located in Daxing District of Beijing and Jiangsu Xi Mountain Economic Development Zone. “Daily News” reporter has learned that the IKEA project in Wuhan in central China will be the first comprehensive mall opened, “Intel IKEA shopping center in Wuhan, the radiation surrounding provinces, including neighboring Hubei, Anhui, Henan, and Jiangxi provinces, will not be built within a decade IKEA. ”

“Take all closed three shopping centers, hotels do not do office buildings, shopping areas of the whole attack, and the facade rent not sell, cultivate the market by the company to concentrate on the team.” This is the Intel Group, IKEA shopping center in China Ding Hui, Managing Director of the future of this giant “Moore city,” the description and location, “Shopping is not just shopping center, is the city life.”

In addition, the reporter also learned that Intel Wuhan municipal government plans to reserve land around the Ikea shopping center to prepare for the planning, development management and its dislocation, “the government of such well-known international business companies will have a certain preferential policies.” Wuhan City Merchants of staff said.
The attention of local government can be described as good, but overwhelmed by the layout of Ikea is not central encountered little resistance. Data show that in the next 5 years, Wuhan will be built 26 similar to the “Moore City”, and an area of more than 10 million square meters in the same competition will be very intense.

Chen Zhuo Centaline Wuhan Branch, told reporters that the survival of IKEA expansion of the market in Wuhan is not easy, “lifting force of arms in the business group is the expansion of these three towns shopping plaza, in the Hundred Group is also to develop into the Wuhan City Complex and Hubei Province in the market, Wanda Group to open in the building has just announced the synthesis of 6 major cities, and put into Wanda theater, thousands of department stores and many other formats. ” Wuhan started early Momalibing various business people to prepare for a massive fight.

In addition, the real estate people also believe that a larger range of options in the business to stay in Wuhan, IKEA will face a number of potential risks. For example, IKEA shopping center is located in the west of the city of Wuhan has always been relatively deserted, how much can be gathered effectively will be a test of popularity. In addition, the shopping center leasing businesses can work together with the IKEA atmosphere of the entire business district to do it, is also a problem.

It is learned that the IKEA project in Wuhan, the layout will be divided into three steps. The first step, IKEA shopping center and even the radiation in central Wuhan city circle five provinces; the second step, the central and western logistics center on the Wuhan; the third step, the manufacturing center on Wuhan.

Sponsored by the Shanghai Stock Exchange, “the Ninth Forum on Corporate Governance in China” was held today in Shanghai, NetEase Finance invited the media as a forum for the entire broadcast graphics. The following is a China COSCO Holdings Co., Ltd., Wei Jiafu speak Record:

Dear Birch Director of the Department of Listed Company Supervision, distinguished SASAC Deputy Director Property Office Taorui Zhi, Zhou Qinye respected vice president of the Shanghai Stock Exchange, ladies and gentlemen, good morning.

First, I want to represent all of you, use this platform to congratulateChina’s capitalMarket and the Shanghai Stock Exchange 20th anniversary celebration a success.

Very pleased to participate in the Corporate Governance Forum and the Board on behalf of award-winning units and all the best of sound corporate governance mechanism. First of all I want on behalf of the Board and all shareholders of China COSCO to the organizing committee, jury, and all the care, support, and love to all the friends of China COSCO, to express my sincere thanks.

China Ocean 601,919 honor, that ocean-going public recognition of corporate governance, which is state-owned enterprises through the capital market from traditional enterprises to public listed companies successful example of successful transition. Proved the CPC Central Committee and State Council, under the correct leadership, the SASAC and the CSRC under the direct leadership and assistance, state-owned enterprises must be able to access the capital market developed rapidly. Meanwhile, for the sustained and healthy development of capital markets make a positive contribution.

Today we are discussing the issue of corporate governance mechanisms, in accordance with generally a sound understanding of corporate governance mechanisms, to include well-equity firm, perfect body board, the board of managers of good discipline and incentives, and efficient organizational structure structure and operational processes and so on. I am following the work of recent years with China, was founded in ocean exploration process to improve the governance of state holding listed companies about Thinking. For your reference.

First, transparent and efficient regulatory system is the premise of corporate governance.

With the deepening reform of state-owned enterprises in China from the “Law”, “Securities Act” multi-level perspective of state-owned enterprise reform the system of building a more complete system, creating a favorable policy environment, we can make today policy, capital markets at home and abroad to obtain a good reputation, thanks to increasingly sophisticated capital markets of our country’s regulatory system for listed companies. Each of our progress with the regulatory side of the support, assistance and guidance are inseparable.

In recent years, the SFC group and the Shanghai Stock Exchange issued a standardized series of corporate governance documents, and supporting guidelines. SFC, Tianjin Securities Regulatory Bureau and the Shanghai Stock Exchange related to leadership, more of this person for our company directors, monitoring, executives and headquarters staff for specialized training. A deep understanding of our normal operation of listed companies, is the foundation for the healthy development of capital markets. Normal operation of listed companies is also a listed company to enlarge and strengthen the capital market the most important prerequisite. Pointed out to us the direction of the company’s control, to improve awareness of the company’s standard operation, so that we move towards the institutionalization of corporate governance, systematic and standardized.

We follow these norms, continuous learning and improvement, only today’s development and achievements. Here, I represent the Board of Directors of China COSCO on the regulatory side to express my sincere thanks to all the leaders.

Second, the norms strictly board system is the foundation of corporate governance.

China COSCO established a sound board, I served as chairman of the board, and selected from the international and domestic shipping experts, financial experts, legal experts as an independent director, I am proud to disclosure, independent directors have been a foreigner Smith Award Tejado Mitt, that I was an independent director, who is chairman of the Hong Kong Society of Accountants, he has extensive experience of independent directors, but also by the Chinese Government, the China Securities Regulatory Commission, the Shanghai Stock Exchange as an independent director recommended award, Congratulations .

China COSCO board members, have a broad global perspective and experience of international capital markets, the Board established under the strategic development of our Committee, the Risk Control Committee, Audit Committee, Remuneration Committee and Nomination Committee, five professional committees, responsible for the Board of Directors the company in operation before the convening of the major issues special studies made professional advice to the Board for decision-making reference, according to the requirements of the capital market regulatory system, we focus on enhancing practical work in the standardized operation of the sense of laws and regulations of the securities of listed companies operational requirements, integration with the company management, and actively explore the good corporate governance structure. Shareholders, board of directors, managers are under the Securities Act of the relevant laws and regulations and company regulations, exercising the right to accept supervision. Few years, we have these directors perform their duties seriously, in the pre-active research topic at the meeting and express their views. Through modern means we will be a combination of spot and video participants to ensure one hundred percent attendance rate of the board of directors. This is why we get a few years ago the best directors in Hong Kong twice, and today we will get the best China Securities board of directors, without exception, all one hundred percent participation in each Board of Directors.

Our capacity has been widely recognized, the China Ocean in 2005, listed in Hong Kong, China Review 2007, our 2006, 2008, issued by the Hong Kong Institute of Directors Board of Directors Award for Excellence in 2009, the most serious financial crisis period, the company won the award in Hong Kong awarded the most honest, in 2008, the value of China won the first hundred, and the Chinese stock market listed companies in the most responsible and many other honors.

Third, stakeholders, supervision, corporate governance is a guarantee.

Standard operation is a listed company to enlarge and strengthen the capital market the most important prerequisite, standard operation of China Ocean has always been to strengthen awareness, controlling shareholders of listed companies, subsidiaries, three levels have a strong sense of normal operation. Constraints in the Board of Supervisors, the technical operation of internal control practices, the China Ocean formed to protect the mechanism for the purpose of all shareholders to accept the supervision of the relevant release, the company will standardize the company’s connected transactions as an important work of supervision and management through a variety of measures to ensure that all connected transactions related disappearance of fair and impartial manner, and of the relevant provisions of foreign listed companies.

COSCO, China Ocean as controlling shareholder to five separate, five independent for the purpose of exercising the rights of shareholders, listed companies and its affiliated companies continue in corporate governance, financial management, etc. to enhance all aspects of the level of normal operation. Central Plains group, etc. were issued in all aspects of non-competition commitment to strictly fulfill its commitments. At the same time the implementation of distribution strategy for Central China Group Company to reduce connected transactions. China COSCO in 2006 held by the controlling shareholder acquired 51% stake in COSCO Logistics, 2007 acquisition of the controlling shareholder of the dry bulk assets owned, acquired in 2009 the Central PlainsPacificAnother 49% of the shares, the same year also acquired a controlling shareholder equity, synchronous steady progress, the overall market, expanding the industrial chain of China COSCO, China Ocean enhanced ability to resist risks.

Fourth, the company incentive and momentum.

The company developed into a world-class business processes, state-owned enterprises the role of the senior management team, can not be ignored. In a way, is a key factor in this process. As a state-controlled listed companies, reasonable arrangements for executives of listed companies the incentive mechanism, we should be concerned about the problem, the China Ocean to maximize operational efficiency set by the Board, to maximize corporate value, shareholder reports to maximize the goal of maximizing the three, diligent management of the company due diligence and consistent criteria, and to achieve the three maximum, scientific incentive and restraint mechanisms is indispensable. Efficient operations, effective binding, can not do without a sound internal control. Internal control system is established, development and implementation of long-term development strategy is the enterprise choice. Both external regulatory requirements, but also strengthen the management of internal business needs. China COSCO to establish standards, integration of the exercise of the curing process as the guiding ideology, the construction of the internal control work as a key to turn, clearly defined the procedures for each control point, an important risk, control activities and the related supervision and inspection procedure. Has developed a business risk management procedures manual, manuals, and other internal control system. Personal leadership and organizational management of the Company’s management of internal control norms for the healthy development of the company provided a long-term protection.

Business goals requires a rational incentives. We are under the guidance of higher authorities have done a positive incentive to explore, in future, but constantly improving.

Fifth, continue to promote enterprise reform is the key to corporate governance.

Corporate governance is an often say it new, never-ending topic of the future, we will follow the overall market, to implement the distribution plan, internal resources to promote the integration of COSCO Group, COSCO of China as a capital platform, and ultimately the overall listing of COSCO Group. Most companies with foreign difference is that belongs to two subsidiaries of China Ocean is a separate legal, while the two subsidiaries, there are other legal entities, with state-owned enterprises to form a multi-level institutional characteristics. In this situation gives us a higher improved corporate governance requirements. State-owned holding company from the traditional state-owned enterprise restructuring, transformed from ideas and management methods, and inevitably the inertia of thinking under the traditional system. The progress of the inertia of thinking, not the natural elimination, to improve corporate governance, we had become accustomed to things, to re-examine the original way of thinking, modes of operation to re-build. It must go through a painful process of self-denial. As a business operator, a leader, we must face, and actively explore.

Leaders, Ladies and Gentlemen, the party’s seventh session of the Fifth Plenary Session spending, deepening reform and opening up a second five times, accelerate the transformation of the critical period of economic development, China’s economic take-off for us to create unlimited opportunities, China offshore capital market in China will be accompanied by the maturity and development to achieve new leaps forward, as the state-controlled public company, we carrying the party and the people, a decrease of the shareholders of record for the blessing of the responsibility, we will continue to deepen reform, tackling difficult, for the tireless efforts of the sustainable development of the company to maximize returns to shareholders, the environment and society, which is entrusted by the times of this great historic mission, we are duty-bound. My general manager of China COSCO’s independent directors Zhang Liang was also present, for everyone to see it. Secretary of the Board of Directors of China COSCO Zhang is here. This is not only my personal commitment, and commitment on their behalf, on behalf of the Board of commitment. Good Governance Forum of the Ninth Chinese companies achieved fruitful results. Thank you.