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Attention all buyers !
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Loading ...I heard rumors these last days saying China was going to cut tax rebates granted to local exporters on a wide range of goods… Today for the first time I read something official here on the matter. This is big…
Jun 19, Multimedia Advertisement Broadcast Equipment
(No Ratings Yet) Loading ...Multimedia Advertisement Broadcast Equipment Project need RMB5 millions, IRR is 473.0, three-year return cycle
Comments: A Note to Readers
(No Ratings Yet) Loading ...Over the years, those who have added their comments directly underneath a post have been in the large part agreeable and positive. On the other hand, readers with ideas contrary to my own, seem to send email directly to me….
A Link to Martin Wolf on “the Strange World Economy”
(No Ratings Yet) Loading ...Not directly related to China, but worth your time: Martin Wolf, Villains and Victims of Global Capital Flows…
Child Labor : still a long way to go …
(No Ratings Yet) Loading ...Given the business I am in with AsiaInspection, I can only react to the news of Beijing Olympic Games merchandises being manufactured by Chinese rogue factories employing children…There is a highly symbolic value to this news, which brings together 2…
Danone Sues Wahaha — Accuses Partner of Parallel Operations
(No Ratings Yet) Loading ...Danone is now sadly forced to wash its dirty linen in public: “After a long investigation, Danone officials concluded that their closest partner in China, Wahaha’s longtime chairman, Zong Qinghou, was operating a series of secret companies outside the joint…
Jun 12, Shanghai Gold Exchange to enroll foreign bank members
(No Ratings Yet) Loading ...China’s central bank said on June 8 it had agreed in principle that foreign banks operating in China could be enrolled as members of the Shanghai Gold Exchange (SGE) in a move that, industry analysts say, marks the opening of China’s gold market.
“It will help combine the domestic and overseas gold market, increase the market liquidity and reduce transaction risks,” said Zhou Hongtao, a gold investment analyst.
Zhou said the foreign members would bring advanced trading and managerial experience and contribute to leveling off the price gapbetween domestic and overseas markets.
The central bank has told the SGE to set up as soon as possible a regulatory plan for qualification of foreign members and submit the plan to the central bank for approval.
The central bank said the plan would be put on record with the State Administration of Foreign Exchange along with the results of foreign members’ qualification examinations submitted by the SGE.
An official with the SGE said that, so far, several foreign banks including HSBC and Standard Chartered Bank had contacted the exchange.
Meanwhile, the SGE is negotiating with its Hong Kong counterpart and the Airport Authority Hong Kong for future cooperation in trading, clearing and delivery, said the official.
The SGE, approved by the State Council and founded by the People’s Bank of China, is a non-profit and self-managing legal entity which organizes gold, silver and platinum transactions.
The SGE adopts a membership system. Its members consist of qualified commercial banks and corporations registered in China. They are licensed to produce, smelt, process and trade precious metals including gold, silver and platinum.
The SGE now has 150 members.
Xin hua
Accurate Valuation of China Stocks 65% Lower?
(No Ratings Yet) Loading ...An article worth reading in its entirety, from Bloomberg: China’s benchmark CSI 300 Index would need to fall as much as 54 percent to come in line with the price-to-earnings ratio of Hong Kong’s Hang Seng China Enterprises Index, which…
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