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Beijing, Feb. 8 -- China's banks will outpace their peers in India and Indonesia, the best performers in Asia's banking industry over the past decade, to deliver the highest returns over the next five to 10 years, analysis firm CLSA Ltd said.The top eight performers among Asian banks over the past decade were all from India, with gains of 400 percent to 3,000 percent, CLSA said in a research report released today.Indonesian banks ranked second over a three-to-five-year period, as no data was available for 10 years, the report said.Shenzhen Development Bank Co, China's first commercial bank to launch an IPO and get listed on Shenzhen Stock Exchange (in 1987), is expected to show a more than eight-fold increase in net profit for 2009, boosted by lower provisions for bad loans and higher net interest and fee income, the Wall Street Journal saidThe two countries recorded the highest credit growth, as India's loans increased 622 percent over the past 10 years, followed by 508 percent growth in Indonesia, Daniel Tabbush and Suangsuda Sinsadok, analysts at CLSA, said in the report.That shows "positive" implications for China's banks given the nation's 326 percent increase in loan growth over that period, they wrote in their analysis."Where China stock price data is only recent, we can at least assume that the fact that those banks are returning the third-highest loan growth over the past five and 10 years can in fact mean strong total returns over the long term," the analysts wrote.China's loan growth of 79 percent was the highest over the past three years, according to the report by CLSA, which is "overweight" on the nation's bank stocks as well as those in India and Indonesia.
BEIJING, March 6 (Xinhua) -- A 17 percent year-on-year increase in China's broad money supply, and a target of 7.5 trillion yuan (1.1 billion U.S. dollars) for this year, indicated a relatively easy monetary policy, said Su Ning, deputy governor of the People's Bank of China, the country's central bank.Speaking on the sidelines of the ongoing annual session of the top legislature, the National People's Congress (NPC), Su said the 17 percent increase in the nation's broad money supply was larger than the combined increase of targeted GDP and CPI growth, which suggested an "easy" monetary policy."If M2 (the broad measure of money supply) growth is 2 to 3 percentage points higher than the combined growth of GDP and CPI, the monetary policy could be seen as easy," said Su.Chinese Premier Wen Jiabao said Friday, in the government work report submitted to the NPC, that China targeted an approximate 3 percent rise in consumer prices and 8 percent GDP growth this year.Su further believed the 17 percent increase in the broad money supply would be able to support the ongoing economic recovery throughout the country.China's financial institutions lent a record 9.6 trillion yuan in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy amid the global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.Su said the 7.5 trillion yuan in new lending this year should speed up completion of projects under construction, rather than support new projects.

BEIJING, March 7 (Xinhua) -- President Hu Jintao on Sunday urged the Chinese women to contribute more to the country's development and modernization on the eve of the 100th anniversary of the International Women's Day.Addressing a gathering marking at the event the Great Hall of the People, Hu said Party committees and governments at all levels should resolutely carry out the basic state policy of equality between men and women, eliminate discrimination against women, and crack down on violations of women's rights in light with law.Hu stressed that women's equal rights of political participation, equal participation in economic and social development, and equal access to benefits brought by economic development must be protected. Chinese President Hu Jintao, who is also General Secretary of the Central Committee of the Communist Party of China (CPC) and Chairman of the Central Military Commission, shakes hands with female representatives before a meeting which marks the 100th anniversary of the International Women's Day at the Great Hall of the People in Beijing, China, March 7, 2010Noting that the Chinese women have made great contributions in process of building the New China and realizing the Chinese nation's rejuvenation, Hu also called on the women to play a bigger role in carrying forward the country's modernization drive.Hu expressed his festival greetings to the women and extended thanks to international organizations and friends for their support to the development of the Chinese women's undertakings.Other Chinese leaders including top legislator Wu Bangguo and Premier Wen Jiabao also attended the gathering.
CANBERRA, Feb. 6 (Xinhua) -- Queensland mining magnate Clive Palmer said Saturday his company has secured Australia's largest coal export deal with China.The Resourcehouse chairman said the company had reached a 20-year agreement with one of China's largest power companies, China Power International Development, the flagship company of China Power Investment Corporation (CPI)."This deal with CPI is Australia's biggest ever export contract," Palmer said in a statement."This is Australia's largest single, non-syndicated, finance deal and the interest from China highlights the strength of the project and the benefits for Queensland and Australia in developing a new world class coal region such as the Galilee Basin," he told reporters."There will be four underground mines and two open cut mines," he said.Meanwhile, Queensland Premier Anna Bligh said there was some environmental red tape to negotiate before the project was approved but she did not expect any last-minute problems."It is world demand which is making it a commercial opportunity," Bligh said.More than 100 million additional tons of coal could be exported every year from Queensland because of new projects under consideration by the state government.
BEIJING, Jan. 28 (Xinhua) -- A draft regulation on expropriation of houses and relevant compensation is expected to be made public Friday to solicit comments.China's Legislative Affairs Office of the State Council, or cabinet, is going to release the full text of the draft on its website, www.chinalaw.gov.cn.The draft spells out the conditions, due process and compensation of expropriation intended for public interest, such as national defense, key national projects of energy, transportation and education.The draft says local government should, by holding hearings or adopting other opinion soliciting methods, ensure that the public opinions can be heard.The draft also provides that compensation to the house owners should not be less than the market price of similar houses.The draft stresses that no violence, coercion, or other illegal means, such as cutting off the water or power supply of the houses, can be employed in demolition procedures.Demolition for the need to upgrade the quality of dangerous and old buildings should not be carried out without the approval of 90 percent of the house owners, the draft says.The public is invited to comment on the draft regulation any time before Feb. 12 via online postings, email or letters.
来源:资阳报