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BEIJING, April 5 (Xinhua) -- China has approved 43 corporate bonds in the first quarter, a sharp rise from the same period last year, in support of the massive construction plan involved in the 4 trillion yuan (584.8 billion U.S. dollars) stimulus package, according to the data released by the depository house for China's major bonds. The 43 corporate bonds, of which five were issued by the central State-owned enterprises, totaled 66.73 billion yuan in value, according to the China Government Securities Depository Trust and Clearing Co., Ltd. In contrast, only 11 such bonds were approved by the National Development and Reform Commission (NDRC), the approving agency, in the first half of last year. Experts said more such bonds were allowed in a bid to echo the government's 4 trillion yuan stimulus package, which needed huge sums of money to power the massive infrastructure construction andother new projects. Of the total 4 trillion yuan investment, 1.18 trillion yuan is supplied by the central government. The rest will be financed by local governments and the private capital. Considering the huge demand by enterprises, NDRC would expand the corporate bond issuance scale to ensure economic growth, an NDRC official told Shanghai Securities News on Saturday. He said NDRC was working overtime to access the piled-up applications. Money raised by the bond issuance should not be used to make risky investment including shares, futures and real estate, the official stressed. Companies involved in the construction of infrastructure, sewage treatment, and energy saving would be given priority to issue debt, according to the official. Based on the current momentum, the total corporate bond sales would likely to top 300 billion yuan this year, analyst with the China Securities Co., Ltd told the newspaper. Although the bond sales was less than 70 billion yuan in the first quarter, but local governments and non-listed companies have shown great willingness to lend more. The bond sales is expected to peak in the latter of the year, said the analyst. Chinese government has been cautious on corporate debt issuance as the country lacks comprehensive legal system for bond market. Only 236.7 billion yuan of corporate bond were issued last year, compared with 812.5 billion yuan of treasury bond sales.
BEIJING, April 14 (Xinhua) -- China's top political advisor Jia Qinglin on Tuesday called for increased efforts of democratic parties and the All-China Federation of Industry and Commerce to promote the development of a poverty-stricken city in southwest China. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the call at a working conference on supporting the construction of Bijie, a city in Guizhou Province. Bijie was approved by the State Council, China's cabinet, in 1988 as a trial zone featuring ecological environment protection and construction, development and poverty-alleviation. Jia said the significant economic and social achievement made in Bijie over the past 20 years exemplifies the enormous advantages of the political system of multi-party cooperation and the political consultation system under the leadership of the Communist Party of China (CPC). Jia outlined three major tasks for Bijie's future development: development and poverty alleviation, ecological construction and population control must be firmly grasped. He also called for efforts to explore new ways to develop the region. Efforts should be made to pursue leap-forward development in both economy and society in the region, he said. In the same meeting, Du Qinglin, head of the United Front Work Department of the CPC Central Committee, said the construction of Bijie trial zone had made significant phase achievements. The region, where the poor once struggled to have adequate food and clothing, was on its way to becoming a place where the people can generally lead a well-off life, he said. Over the past two decades, people from the democratic parties offered enormous support to develop the hilly hinterland region that is home to more than 20 ethnic minorities. They helped to contribute to local education programs, training of migrant workers, building local medical institutions, constructing hydropower stations and helped tackle prevailing ecological problems including desertification. The CPPCC is a patriotic united front organization of the Chinese people, serving as a key mechanism for multi-party cooperation and political consultation under the leadership of the CPC, and a major manifestation of socialist democracy.

BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies. Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009 The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years. A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width." The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters.. Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest
RAYONG, Thailand, April 10 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday to attend the East Asia Summit and related meetings in a bid to promote regional cooperation to confront the global financial crisis. The premier's trip is aimed at enhancing mutual trust between China and east Asian countries, promote regional cooperation and boost determination and confidence to jointly tackle the crisis, which has dealt a heavy blow to the Asian economy. Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Pattaya, Thailand, including the 12th China-the Association of Southeast Asian Nations Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and a China-Japan-South Korea Breakfast Meeting. His entourage includes Foreign Minister Yang Jiechi; Zhang Ping, chairman of the National Development and Reform Commission; Finance Minister Xie Xuren; Commerce Minister Chen Deming; Xie Fuzhan, director of the Research Office of the State Council; Chinese Ambassador to the ASEAN Xue Hanqin; Qiu Xiaoxiong, vice secretary-general of the State Council and director of the premier's office; and Assistant Foreign Minister Hu Zhengyue. Chinese Premier Wen Jiabao (L Front) arrives in Phatthaya, Thailand, April 10, 2009. Wen's trip from April 10 to 12 will be highlighted by a series of meetings in Phatthaya of Thailand, including the 12th China-Association of Southeast Asian Nations (ASEAN) Summit, the 12th summit between the ASEAN and China, Japan and South Korea, the 4th East Asia Summit, and China-Japan-South Korea Breakfast Meeting.
BOAO, Hainan, April 19 (Xinhua) -- The Boao Forum for Asia (BFA) Annual Conference 2009 concluded Sunday in the scenic Boao town in south China's island province of Hainan. During the three-day event, more than 1,600 political leaders, business people and academic scholars exchanged ideas on the role Asian countries, especially emerging economies, can play to cope with the spreading global financial crisis. Chinese Premier Wen Jiabao delivered a keynote speech, "Strengthen confidence and deepen cooperation for win-win progress", at the opening plenary meeting. He said that the conference, with "Asia: Managing Beyond Crisis" as its theme, is a highly important one. It will contribute to the efforts to build consensus, strengthen confidence, deepen cooperation and overcome the crisis. Wen introduced the steps China has taken to cope with the severe impact of the global financial crisis, saying the country's package plan is already "paying off", and positive changes have taken place in the economy. China has decided to set up a 10-billion-U.S.-dollar "China-ASEAN Fund on Investment Cooperation" to support infrastructure development in the region, Wen announced. The BFA annual conference was the eighth of its kind. BFA was established in 2001 as a platform for high-level interaction between political and business leaders from Asia and around the world. It is aimed at promoting the development goals of Asian countries through greater regional economic integration.
来源:资阳报