China Financial News Headlines

Ping An of China: not rule out the possibility of ready for the Fortis Investment for impairment
Ping An of China (market  stock house) released that, in the future, according to the international capital market, stock price volatility, the Fortis Group, and other trends, they will be in strict accordance with the accounting standards in deciding whether to get ready from 2008 Q3 results for Fortis shares of the investment provision Impairment.

How much does the proceeds China buy U.S. treasury bonds?
To buy U.S. treasury bonds is one of the most important ways for China’s huge foreign exchange reserve to use. Because of the large amount of the purchase, the issue of China and the United States has increasingly become the focus of attention. Song Guoyou of the Fudan University scholar recently pointed out.

Belgium’s largest bank Fortis endangered, so three European countries gave out of their hands
Sept. 29 news: according to foreign reports, Belgium’s largest banking group Fortis (Fortis NV) last week, share prices of 35%. Belgium, the Netherlands and Luxembourg government has decided to inject three 11,200,000,000 euros (163 million) of funds So that Europe’s largest financial services become a part of the nationalization and as not to breach the confidence of the market.

The Chairman of the board of baosteel said high-speed growth period of Chinese iron and steel industry is over
Baosteel Group chairman Xu Lejiang, on 28th in the third academic year, said chinese crude steel output has been greater than domestic consumption of crude steel, entered the stage of supply exceeding demand. In particular, the recent decline in market demand, profit increased risk of steel, iron and steel industry which has been rapid growth in the past. The industry turning point began to be felt. Technology and the scale of iron and steel enterprises became competitive advantage to win the “cornerstone of the two.”

Goldman Sachs want their commercial banks to expand business with M & A assets of up to 50,000,000,000 U.S. dollars
According to Britain’s “Financial Times” report on September 28, after becoming a bank holding company, Goldman Sachs Group, a commercial bank started the rapid expansion of business. The leaders of Goldman Sachs Group said yesterday that the company plans to take advantage of market opportunities in the doldrums of M & A up to 500 billion dollars in U.S. assets of the banking sector to ensure that the transition in the financial sector.

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