China Financial News Headlines

Shanghai and Shenzhen Stock Exchange issued the Guidelines on Buy Backing Stock Business
In order to regulate the transaction in stock market and ensure the smooth operation of related business, Shanghai and Shenzhen Stock Exchange has established “guidelines on buy backing stock business via Centralized Bidding Transaction by Listed Companies”, which was published and put into force on the Oct.11, 2008.

China Life president predicted the total premium growth rate would reach 50% this year.
On Oct.10, China Life president Yang Chao expressed China Life had occupied the 42% domestic market share when he met senior adviser of former German Rothschild Bank Schroeder; he also predicted the total premium growth rate would reach 50% this year.

Individual Income Tax for Top 100 Securities Industry increases 14 times in 2007, it is difficult to continue the resplendence
Yesterday morning, the State Administration of Taxation issued the “2007 China top 100 taxpayers.” The tax volume of securities industry was very eye-catching, as it increased over 14 times.

Alibaba share price reduced 85%; Nomura Securities released “He has seriously injured”
Under the financial crisis situation, eBay has laid off 1600 people, which occupies 10% of the employees, whereas Alibaba has launched the 3,000 large-scale recruitments. On Oct.7, Alibaba Group announced sharply that they would invest 5 billion RMB in C2C website: Taobao. But at the same time, Alibaba shares reduced all the time, it was 5.75 Hong Kong dollars until the close on Oct.9, which declined 85% compared with the highest price last year.

Other News:

Decision on Several Issues Related to promoting Countryside Reform and Development
The seventeenth of the Third Plenary Session of the CPC is held in Beijing, and Hu Jintao delivered an important speech. The session discussed and approved “Decision on Several Issues Related to promoting Countryside Reform and Development”

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Heilongjiang discovered reserves of 319,000,000 tons of large coal fields
Recently, the geological staff used the two-dimensional seismic and drilling methods in Heilongjiang mine deep for detailed investigation, proved Hegang mining and deep Qunying area contains abundant coal resources, got a preliminary estimate of this region -900 m elevation above the coal resources Reserves up to 319,000,000 tons.

On the Listed companies on October 12, evening bulletin Courier
Handan Iron & Steel: Notice progress on major issues, Dan Iron and Steel Company Limited as a result of the current planning of a major reorganization of the assets are no precedents, its stock has been ordered to suspend the relevant provisions of that as the relevant procedures under way. The company will continue to stock suspension.suspension.

On the first week of Hong Kong stocks round of the tournamen, Master earned the quadruple
On October 10, Tencent network by the Chinese community and financial co-hosted the tournament the first week of the 2008 Hong Kong shares end the game, the first round of Wo skiers’ income is up to 217.130 percent. Stock returns from the first players to reach 25.620 percent.

Taiwan authorities have put three measures about the stability of the stock
Chinese Taipei, Oct. 12 (Reporter Zhao Qian Qichen) in view of the global stock market crash in Taiwan the administration convened the Finance department after the meeting by the authorities, “Financial Supervisory Commission chairman,” Chen announced on the evening of 12, three measures of the current stability in the stock market.

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Because of difficult stock speculation, Hohhot futures rise heat
With the A shares from the SSE Composite Index fell along all the way to 6124 points over 1800, it is more and more difficult for stock speculation. Unlike the stock market and futures market, a very important point is that it can do more, also be short. As a result, the current downturn in the global capital market as a whole the situation. In the capital many people start to push up the futures.

Chinese Castrol Wu Jiashi “smearing” Deterioration in the external economic environment
Fund in half a month got earnings World Ranking, Chinese Castrol Wu Jiashi “smearing” Deterioration in the external economic environment, Lehman filed for bankruptcy, Merrill Lynch acquired, as well as AIG’s financial crisis hit Wall Street’s financial crisis and swept the globe. Nearly half of the month (Sept. 6-20), in the domestic stock market, it remains in the doldrums under the re-drawn into panic selling, at the lowest point reached juncture 1800.

The price fell to the cost of business line, and one after another coke production reduced 50%
Due to reducement of demand for coke for steel mills, coke prices have dropped at home and abroad, and even some companies selling at a loss, the current prevalence of coking enterprises cut production limits. A few days ago, the chairman of the China Coking Industry Association of gold in the stem of a coal forum, said that the coking level of corporate profits will decline.

Shenzhen Stock Exchange on October 13, 2008 resumed trading suspension notice
Intel Group, Development of Kim, Dragon of Shandong, Hejia of resources, Gao Hong shares, Tianyi Science and Technology, Kowloon Tong Chi, S * ST bright, Changchun High, ST flood, Xi’an Aircraft International, Hualian Holdings, National Unification shares, Day state shares.

The futures market has plummeted for 3 days or there is a crisis of bankruptcy
After 3 days time of National Day holidays , affected by the United States as well as the financial crisis in the international market commodity prices fell, China’s futures market has been out of a unilateral terrorist decline, Oct. 6 opening of the 19 species that occured across the board limit.

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