China Financial News Headlines

Measures from American Federal Reserve，other Five Central Banks and other Places 
American Federal Reserve and other five central banks issued a joint statement to urgently reduce the 50 basis points of benchmark interest rates. The day before, Australia firstly claimed to reduce 100 basis points of benchmark interest rates. Hong Kong China also claimed to adjust rate of discount, which actually realized the 100 basis points reduction.

UK Government spent 50 Billion Pounds to rescue the Market
The UK Government issued the formal rescue project on banking industry that the government would use 50 billion pounds to purchase the shares from eight major banks and prepare at least 200 billion pounds as spare loan capital, which would provide the short-term loans to banks and housing lenders.

Japan Provides 20 Billion USD Loan
Central Bank of Japan on Oct.7 provided 20 billion USD loan to financial institutions by inviting public bidding, the lowest interest rate of bid was 1.390 percent.

Russia provides 950 Billion Rubles Loan
Russian President Medvedev on Oct.7 said that the government would provide 950 billion rubles loan, and the period would not be less than 5 years.

Claim from Indonesian President
Indonesian President Susilo Bambang Yudhoyono said that he would promulgate special order to ask the government departments to support the economic growth so as to release a plan on stimulating domestic consumption.

Measures from Brazil Central Bank
Brazilian Central Bank on Oct.7 expressed that they would provide 2050 million USD for U.S. dollar transactions in order to increase liquidity in the foreign exchange market. Brazilian Central Bank President Henrique Meirelles said that Brazil had over 200 billion USD foreign exchange reserves. As long as it is necessary, the central bank would surely intervene to rescue the market.

Iceland Government fully involves and controls the Operation of Financial Institutions
Iceland Parliament passed a Bill of emergency with immediate effect that the Government of Iceland would fully involve and control the operation of financial institutions.

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