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BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed. The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively. CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan. IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch. Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007. Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values. Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus. Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010. Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling. "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model." It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan. The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities. Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed. Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data. The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.
ADELAIDE, Australia, Nov. 28 (Xinhua) -- China Giant Pandas Wang Wang and Funi arrived at Australia's Adelaide airport on a chartered jumbo jet from China on Saturday. The pandas were welcomed at their new digs in the Adelaide Zoo after arriving in a climate-controlled semi-trailer escorted by police. They will spend the next 30 days in quarantine in their specially built enclosure at the Zoo before going to the public on Dec. 13. The CEO of Adelaide Zoo Dr. Chris West and the Cultural Councilor of Embassy of the People's Republic of China in Australia Ke Yasha with a crowd of about 100 local people greeted them at the Airport. Ke said, "Nearly 400 Chinese people welcomed the arrival of the Giant Pandas in Chinatown despite the poor weather." Giant panda Fu Ni eats fruits at Adelaide Zoo in Adelaide city of Australia, Nov. 28, 2009. A giant panda couple, Wang Wang and Fu Ni, arrived in Australia Saturday for a 10-year stay, the first of the endangered species to live in the southern hemisphere "Wang Wang and Funi will spend the next month in quarantine, ensconced inside the enclosure which includes some innovative features such as refrigerated rocks to ensure they can handle the heat of the summer." A total of 175 Australian families planting bamboo will provide enough food for Wang Wang and Funi, he added. It is expected the pandas will be released into the outdoor part of their enclosure early in the new year. The pandas will spend 10 years in Australia, according to an agreement by the governments of the two countries. Staff members unload giant pandas from China at the airport of Adelaide, Australia, Nov. 28, 2009. A giant panda couple, Wang Wang and Fu Ni, arrived in Australia Saturday for a 10-year stay, the first of the endangered species to live in the southern hemisphere.

BEIJING, Dec. 1 (Xinhua) -- Chinese Premier Wen Jiabao on Monday called for more peace efforts from Israel and Palestinians toward a two-state solution. Wen made the appeal on the occasion of the International Day of Solidarity with the Palestinian People. In a congratulatory message to this year's UN activities to observe this day, Wen said the Palestinian issue is at the core of the Middle East issue. "China firmly supports the demands of Palestinian people for the restoration of their legitimate national rights and for the establishment of an independent state," said Wen. The Middle East Peace process is at a crossroads. China hopes that Israel and Palestinians could guide the peace talks toward a desired direction and work for a two-state solution in accordance with relevant UN resolutions and the "land-for-peace" principle, he said. An early resolution of the Palestinian issue in a comprehensive, just and permanent manner is not only beneficial to the Palestinian people, but also conducive to peace and stability in the whole Middle East region, said Wen. As a permanent member of the UN Security Council, said Wen, China remains committed to the Mideast peace process and is willing to play a constructive role, together with the international community, in promoting peace, stability and development in the Middle East.
GENEVA, Nov. 30 (Xinhua) -- Chinese Commerce Minister Chen Deming on Monday called on the Seventh WTO Ministerial Conference to send a positive signal to the world to help stabilize and improve the crisis-hit global economy. "Today at this gathering we should send a positive signal to the rest of the world, a signal to 'open up, advance and reform,'" Chen said at the opening plenary of the three-day conference, which was participated by trade and agriculture ministers from most of the 153 WTO members. "Now the global economy has shown signs of stabilizing and improving, but the foundation for the turnaround is not solid. The road to complete recovery remains long and winding," Chen said. He stressed the importance of trade opening and resisting protectionist pressures for world recovery. "We should not close our doors for fear of risks or challenges." "As long as WTO members can form consensus to stand by their WTO commitments, not adopt protectionist measures and remain open, we will be able to gather enormous strength to tide over the crisis," he said. The minister also stressed the need to advance the long-running Doha Round global trade negotiations as a way to reform and enhance the multilateral trade system. Eight years after its launch with a primary goal to help poor countries prosper through trade opening, the complex Doha Round is still not in its endgame because WTO members cannot narrow gaps on such key issues as agricultural tariffs, subsidies and industrial market access. After several missed deadlines, WTO members have set a latest deadline for concluding the Round in 2010. Chen stressed that progress made in the past eight years, as reflected in the agriculture and NAMA (non-agricultural market access) texts as of December 2008, "is hard won, and cannot be overturned for any excuse." He also called for respecting the Doha Round's development mandate and keeping multilateral negotiations as the major channel." Then it is hopeful that the talks can be successfully concluded in 2010." According to the Chinese minister, the WTO, as the only institutional arrangement governing global trade, needs necessary reform to improve its rules and functions, broaden its influence over other important international coordinating mechanisms, and assume a greater responsibility and role in governing global economy. The organization should reform toward the direction of promoting sustainable development, Chen said. It also needs to step up efforts in Aid for Trade and trade finance, while advancing trade liberalization. As a result, developing countries, especially LDCs (Least Developed Countries),can gain real benefits from globalization, he added.
来源:资阳报