介绍:
China to Let Local Governments Issue Debt
Authorities here in China appear poised to give a formal green light to allow bond offers by local authorities.
Xinhua is reporting the most recent draft of the budget law now includes a provision for local governments to issue bonds directly to fund essential projects.
The draft still needs legislative approval.
If the provision makes it into the final version of the law, it should eliminate legal hurdles to give more financing channels to local governments.
The report is suggesting only governments at provincial, autonomous region and municipal levels that gain central government approval will be able to issue bonds.
Quotas will reportedly be set on a case-by-case basis.
Most local governments continue to be barred from directly issuing debt due to concerns over rising debt levels.
The finance ministry issues bonds on behalf of local authorities.
However, certian local governments with stronger financial track records, including Guangdong, Zhejiang, Shanghai and Shenzhen, have been allowed to issue bonds on their own.
In an audit released late last year, local government liabilities have totaled almost 18-trillion yuan as of the end of June, up from 10.7 trillion yuan at the end of 2010.
Eighteen Additional IPO Applicants Pre-disclose Prospectuses
The China Securities Regulatory Commission has released a list of 18 additional IPO applicants that have put together prospectuses.
Among the 18 applicants, 7 are planning to list on the Shanghai Stock Exchange and 6 will list on the SME board.
The remaining 5 are hoping to list on the ChiNext board.
This now brings the total number of companies which have completed the pre-disclosure process here in China to 46.
There are over 600 companies here in China currently in the IPO pipeline.
There has been wide-spread speculation the revelations are a signal the CSRC is preparing to allow IPO's to once-again take place here in China.
IPO's have been on-hold for over a year as the authorities work to streamline and toughen-up the process to weed out undesirable companies.
China Details Cut in Rural Banks' Reserve Requirements
China's central bank has now provided details of the reserve requirement cuts its going to allow for rural commercial banks.
A statement released by the People's Bank of China says the reserve requirements for rural commercial banks at the county level will be cut by 2-percent.
Reserve requirements for county-level rural cooperative banks will be trimmed by 0.5 percent.
The statement by the PBOC doesn't say what the new levels will be.
Major banks here in China need to keep 20-percent of their deposits on reserve with the central bank.
The new policy will be effective on Friday.
The move is meant to try to stimulate more lending in this country's rural areas to foster more economic development.
China allows gold imports via Beijing, sources say, amid reserves buying talk
Reporter:
New reports are suggesting Beijing is set to become the 3rd city in China, behind Shanghai and Shenzhen, to be a permitted destination for gold bullion imports.
Authorities here in Beijing have not commented on the report, as the Central authorities don't discuss issues connected to China's gold reserves.
The main information on the Chinese bullion markets comes from the monthly release of export data from Hong Kong, where official data indicates the city has supplied more than 50-billion US dollars worth of gold to the mainland.
Along with the nearly 12-hundred tonnes of gold imported from Hong Kong last year, the mainland itself produces over 400 tonnes.
For more on all this, CRI's Shane Bigham spoke earlier with Gao Shang, Analyst with GuanTong Futures.
Gao Shang, Analyst with GuanTong Futures, speaking with CRI's Shane Bigham.
Boeing gets $4.6bn order from China's Shandong Airlines
Shandong Airlines has placed an order for 50 Boeing 737 aircraft in a deal worth 4.6-billion US dollars.
The order still needs to be approved by the Chinese government.
The narrow-body aircraft market is forecast to generate some 20-trillion US dollars worth of sales for plane makers over the next 20 years.
The sector is currently dominated by the Airbus's A320 and Boeing's 737 aircraft.
CIRC: Insurance Premium Income CNY 699.98 Bn for Jan-March
The China Insurance Regulatory Commission is reporting insurance premium incomes have come in at just under 700-billion yuan through the first quarter of this year.
This represents an increase of nearly 40-percent.
185.5-billion yuan has been generated from the property and casualty insurance business.
This is an increase of 17-percent year on year.
More than 514-billion yuan has been generated from the life insurance sector, up 44 percent compared to the same period a year earlier.
As of the end of March, total insurance industry assets have amounted to 8.9-trillion yuan.
Insurance funds deposited in banks total 2.5 trillion, while the balance of insurance funds available for payouts and other operations stands at 8.2-trillion.
Novartis and GSK to exchange assets and launch joint venture
Novartis and GlaxoSmithKline, two of the world's leading drugmakers, have agreed to exchange assets and combine their consumer healthcare units.
Novartis will acquire GSK's cancer drug business for 16-billion US dollars and sell its vaccines division, excluding the flu unit, to GSK for 7.1-billion US dollars.
In a separate deal, Novartis has agreed to sell its animal health division to Lilly for nearly 5.4-billion US dollars.
大家还在听
