Ten Foreign
banks to incorporate locally
2006-12-13 16:27 Xinhua
BEIJING, Dec. 6 -- More than 10 foreign-funded banks
have expressed their wish to incorporate locally, a
senior official with the China Banking Regulatory
Commission told a press conference here on
Wednesday.
Xu Feng said that the commission would release the
names of the first batch of foreign-invested banks
who have submitted their applications soon after the
Regulation on Administration of Foreign-funded Banks
take effective on Dec. 11.
Xu predicted that locally incorporated banks would
account for more than half of the turnover of
foreign institutions in China.
Under the regulation, the Chinese government
encourages foreign banks to incorporate locally and
set up subsidiaries to minimize risks for Chinese
customers.
If a foreign bank continued to run its Chinese
operation as branches operated from overseas, the
range of services it could offer customers would be
limited.
China's banking watchdog said that the stipulation
is in line with international practice. When
liquidity risks occur, domestic customers should be
given priority in withdrawing funds. Chinese
individuals who deposit money in branches operated
from overseas could find their assets at risk if the
parent bank experienced a crisis.
In a globalized world, financial risks can be passed
from one country to another. But China-registered
corporate entities, which are supervised by Chinese
banking authorities, will take measures to minimize
risks and ensure domestic financial stability, they
said.
The policy favoring Chinese corporate status also
complies with WTO rules, which allow members to
adopt measures of prudence when opening up the
banking sector.
Prudent measures include policies that protect
customers' interests, prevent risks to the bank and
safeguard the stability of financial markets.
"The Chinese government will do everything it can to
facilitate the conversion process, which will take
one to three months," Wang Zhaoxing, assistant
chairman of CBRC, said earlier.
Wang said he is confident that government
departments involved -- the judicial department, the
industrial and commercial administration, and the
banking regulatory commission -- will work together
in an efficient and well-coordinated manner.
A locally incorporated bank will not be regarded as
a new institution. The date on which the foreign
bank established its first branch in China will be
regarded as the beginning of its operation.
Reports:
Policy bank to reform
2006-12-13 16:21 China Daily
BEIJING, Dec. 7 -- China Development Bank may become
fully commercialized next year as part of a movement
to reform the country's policy banks, Chinese media
reported.
In a meeting of related departments in the State
Council last week, it was decided to reform the
country's policy banks into commercial ones, said
the 21st Century Business Herald, without
identifying sources.
According to the report, China Development Bank will
be the pacesetter in the reform and may complete its
transformation in one year.
Traditionally, policy banks focus on granting loans
to government-encouraged projects. Through
commercialization, they will make decisions based
more on profitability, as well as face more
stringent supervision.
The Chinese language newspaper said the research
bureau of the People's Bank of China is working on
the reform plan.
But an official from China Development Bank said
they have not got any information on the reform.
"Even if the reform is determined, it will be
carried out after the national financial conference
(reported to be held before the Spring Festival),"
the official said.
"The commercialization of the policy banks is
necessary as economic and financial reform goes
forward," said Han Meng, a financial expert from the
Chinese Academy of Social Sciences.
According to him, if the performance of the policy
banks are not good, they will burden the national
economy.
He said reform will make the market play a more
important role in the banks' operations, but their
function as policy lenders is likely to remain.
Chen Yuan, governor of China Development Bank,
recently said the bank is still focusing on
development financing.
The 21st Century Business Herald said the reform
direction of policy banks is not toward commercial
banks like the Industrial and Commercial Bank of
China. They will not, for instance, involve retail
banking and will not absorb savings.
The banking regulator will continue to allow them to
issue financial bonds to raise capital.
But the policy banks may face even higher
supervision standards.
China to
become net corn importer
2006-11-27 21:18 CZ
BEIJING, Nov. 24 -- China is becoming a net corn
importer as a result of robust domestic demand from
the corn deep processing sector.
The nation's corn exports stood at 2.27 million tons
in the first three quarters of this year, down 68.3
percent year-on-year, while imports hit 60,000 tons,
up 43 times year-on-year, according to statistics
from the Ministry of Commerce.
Boosted by rising oil prices, many grain enterprises
have built processing facilities in China's major
corn producing provinces. The growing capability
will drive domestic demand even higher and is likely
to turn China into a net corn importer in the coming
years, insiders said.
"Corn stocks have fallen this year as a result of
domestic demand," said an official from the Ministry
of Commerce, who wished to remain anonymous. "We
believe that China will become a net importer of
corn in a few years."
He contributed the change largely to increasing
industrial processing, but he did not expect the
change to happen in 2007 because China's corn supply
still exceeds demand.
Corn is largely used in producing fuel ethanol,
sugar and animal feed.
There are over 10 corn deep processing plants in
Northeast China's Jilin Province, with a total
annual processing capacity of 6 million tons, said
Jiang Jianhua, deputy general manager of Jilin-based
Jiliang Group.
It is estimated that by 2008, facilities in
Northeast China, the country's major corn-producing
region, will annually consume around 15 million tons
of corn.
Over 25 million tons of corn was used in deep
processing in 2005 in China, compared with 13.8
million tons in 2004. The figure jumped to 15.6
million tons in the first half of this year.
China is now the third-largest fuel ethanol producer
after Brazil and the United States. Production of
fuel ethanol and corn alcohol consumed 8.9 million
tons of corn in China last year, accounting for 44.5
percent of industrial consumption of corn.
Demand from ethanol makers, sugar producers and feed
factories, has exhausted some of the nation's corn
stocks. An ethanol producer claimed its employees
had to go to over 100 grain depots in Northeast
China for their supplies this year.
Jiang said China's exports of corn are unlikely to
reach 5 million tons in the second half of this year
as previously estimated. The nation exported about
8.61 million tons of corn last year.
Meanwhile, more enterprises have begun to import
corn. In July, a sugar maker ordered 50,000 tons of
corn from the United States. Experts also suggested
the Chinese Government strengthen its administration
of corn processing plants in a bid to avoid major
fluctuations in demand and prices.
Návtěva
náměstka ministra obchodu LR p. Gao Hucheng v R
2006-09-11 20:24 駐捷克使館經商參處
Ve dnech 22.- 25. srpna t.r. náměstek ministra
obchodu LR, p. Gao Hucheng pijel v ele vládn岥
ekonomicko-obchodn岥 delegace na návtěvu R. V prběhu
návtěvy se pan náměstek setkal s m岥stopedsedou vlády
panem Ji岥m Havlem a ministrem MPO panem Milanem
Urbanem, jednal s náměstkem MPO panem Martinem
Tlapou, z徂astnil se tak岢 ceremoniálu podpis
ekonomicko-obchodn岥ch kontrakt a smlouvy investin岥
spolupráce mezi podniky obou zem岥, poskytl interview
T i dal岥m sdělovac岥m prostedkm. Velvyslankyně LR v R
pan岥 Huo Yuzhen se z徂astnila ve uvedench akc岥.
Náměstek p.Gao Hucheng se pi jednán岥 vyjádil k tomu,
e se v posledn岥ch letech spolupráce v oblasti
obchodu a investic mezi LR a eskou republikou 徂spěně
rozv岥j岥. Poukazal na to, e po vzájemn岢 návtěvě premi岢r
obou zem岥 v roce 2005 se oboustranná spolupráce
neustále zrychluje. 岥nsk岢 firmy vetně spolenosti
Changhong z provincie Sichuan a spolenosti Malin z
města Shanghai postupně investovaly do staveb
továren v R. Spolupráce mezi koda Auto a Shanghai
Volkswagen bě岥 徂spěně. Oblasti spolupráce se
neustále roziuj岥, spolupráce v oblasti
telekomunikace, finance a ochrany ivotn岥ho prosted岥
se stává novm prvkem oboustrann岢 obchodně-ekonomick岢
spolupráce.
eská strana pozitivně hodnotila rychl rozvoj
ekonomicko-obchodn岥ch vztah mezi LR a R, vyjádila
podporu v dal岥mu roziován岥 oblasti spolupráce a
zesilován岥 vzájemnch investic mezi podniky obou zem岥.
Pála by si, aby 岥nsk岢 firmy nadále zvyovaly dovoz z
R. Pi jednán岥 si obě strany vyměnily názory i na 岥nsk
statut pln岢 trn岥 ekonomiky, uvalen岥 antidumpingov岢ho
cla EU na dovoz koen岢 obuvi z 岥ny, t岢 na vstupn岥 v岥zum
do R pro 岥nsk岢 obchodn岥ky, na nevyváenou obchodn岥
bilanci mezi LR a R a na ochranu vlastnickch práv.
V prběhu návtěvy 岥nsk岢 spolenosti nap. Sinochem
International, China National Township Enterprices
Cor., China MEHECO Cor., podepsaly s eskmi podniky
kontrakty o nákupu eskch vrobk vetně gumy,
chemikálie, farmaceutickch l岢k atd.
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