Beijing: Next International Financial Hub?

Beijing‘s new financial dream On May 5,the Beijing Municipal Government released a notice regarding its plans to spur the financial industry, vowing to put forth a strong effort to become the national financial decision- making center,financial management center and financial information and ser- vices center,and formally announcing its ambitious aspiration to become a financial hub with international influence.     

Financial Street—Landmark of the Beijing Financial Center

Redefining Beijing For a long time Beijing has served as the political and cultural center for the country.While Shanghai and Shenzhen were encouraged to grow and reach their financial goals,Beijing cautiously dodged the label of a"financial center",in order to avoid the criticism of"redundant construc- tion".However,Beijing is the birthplace of China's financial policies.Due to its special geographic position and drive towards     

Shanghai Industries:Changing with the Times

In ancient times,thanks to natural geography which makes it an excellent port.Shanghai grew to become a major eco- nomic power in China.Today.as one of the four central directly administered municipalities,Shanghai has again become an important economic and trade center in China,as well as a financial and shipping center.Beginning with reforms in 1978,Shanghai has made great leaps in a variety of different fields;in particular,Shanghai's economy has increased by more     

Credit Suisse Enjoys Chinese Banking——An exclusive Interview with Dr. Urs Buchmann, Managing Director, Country Head China, Credit Suisse

Widening Opportunities for Foreign Market Participants As a result of a direct interaction with its partners and clients in China extending over 5 decades, Credit Suisse already enjoys a very strong position in the country＇s financial markets. The bank moreover feels generally positive about the significant additional opportunities that have become available to foreign banking institutions as a result of China＇s accession to WTO and the substantial reforms implemented in that context, stated Dr. Urs Buchmann, Managing Director, Country Head China, Credit Suisse.     

The CBD, Emerging Power

Central Business District(CBD),a concept that was first proposed by U.S.scholars in the 1920s,reters to a busincss center that functions as a commercial trading,financial information,cultural center,exhibition and office area all rolled jnto one;a place that is the center of business,the driving power of urban economic development and the soul of a city.     

Kunming： The City of Spring

Kunming is the political, economic and cultural center of Yunnan province and the most popular center for tourism in Southwest China. Kunming enjoys a pleasant climate and does its best to liveup to its title of ＂the City of Spring＂. Whenever you are planning to go, the temperature is always pleasant. With its convenient transport links in and out of the city, Kunming welcomes tens of thousands of tourists every day.     

Hengshui—A Pearl Embedded in Jizhong Plain

Situated in the Heilonggang Area of Southern Hebei Province, Hengshui City is the center of politics, economy and culture of Hengshui Prefecture, with a total area of 598 sq km and a population of 350,000. Since 1982, when Hengshui was approved to be built into a city, its economy has been growing rapidly. Now, annual GNP has topped RMB1.9059 billion, total industry and agriculture output value RMB 3.529 billion, and financial income RMB 176 million, putting it among the best in the province in composite economic index. Hengshui City stands in the Bohai     

Reform of China's Financial System

Since 1979 China has adopted a series of measures to reform its financial system. These measures involved establishing the macro control system of the central bank. setting up policy banks, perfecting the financial organization system, developing commercial banks and the monetary market, and reforming the foreign currency management system. The reforms of the past 15 years have brought great changes to China's financial system. The old unified banking system was broken and diversified financing institutes emerged. Now a financial system comprising the central bank, specialized banks, commercial banks, insurance companics, trust and     

RMB Exchange Rate Reform：Past and future

With the deepening of China＇s financial reform, economic development and the enforcement of market roles, the RMB exchange rate needs to become more flexible and become a more sensitive reflection of the changes in market supply and demand. Under such circumstances, on July 21, the People＇s Bank of China announced that the previous system where China＇s RMB was pegged to the U.S. Dollar would be changed to include a basket of foreign currencies, shifting China＇s exchange rate system into a managed floating exchange rate regime based on market supply and demand.     

Devotion to a Regional Coal Trading Center in Asia Pacific——Interview with Pan Yigi,President of Great East Natural Resources Investment Pte.Ltd.

Beside the Lakeside Reservoir in Huli District of Xiamen,a special economic zone in Southeast China’s Fujian province,the construction of a coal futures trading center is underway.It is expected to make Xiamen a regional coal trading center and lift its international status in the world’s energy sector.The center,invested and organized     

China Encourages Share-holding Reform in Defence Industry

China encourages share-holding reform for some of its weapons makers in a bid to expand financial and technical support,according to the recently issued government guidelines.     

Hot Money,National Risk?

After the phasal cease of the financial crisis, from the latter half of 2009 and on, the international hotmoney has been trying to make a comeback and has once again viewed China as its object.     

Year-End Review： China＇s Foreign Trade and Investment 2010

Wathering through the global financial tsunami in 2009, and tiding over the 2010, China＇s foreign trade and foreign investment sectors were strenuously blazing its trail to a new phase.     

Measures Taken to Secure Employment

The background
In 2008, the financial crisis has swept the globe and its tentacles went across the Pacific Ocean to mainland China. Along with the global economic recession and the slowdown of domestic economic growth, the unemployed and the new employees have become the direct victims of this economic cold wave. The issue of employment is the focus of attention of society from all walks of life.     

Foreign, Private Stake to Rise in Financial Firms

China will gradually boost overseas participation in its financial industry and move to more flexible systems of interest rates and foreign exchange in the next five years. The country is scheduled to raise the ratios of stakes foreign and private funds can invest in small- and medium-sized financial companies at a ＂proper＂ pace from 2006 to 2010, said Zhou Xiaochuan, China＇s central bank governor.     

China central bank suggests rural financial service improvement

China should further upgrade its rural financial service system to bolster economic development in such areas and improve the lives of farmers, said a People′s Bank of China report released late on September 19. The central bank′s"China rural financial service report"suggested the government provide more low-cost financial services in rural areas;improve the credit-risk management mechanism and encourage innovation in financial products.     

An Update on EU Financial Reforms

In the context of a transatlantic comparison,the first thing to be mentioned is the difference between the time sequence of financial reforms in the European Union and its equivalent in the United States.The financial crisis started simultaneously on both sides of the Atlantic, with the initial disruption of some financial market segments in August 2007 and the major panic episode of September through October 2008.But they are not at the same stage of policy reaction and especially regulatory reform now....     

First Decade: Headway amid Twists and Turns

About a decade ago,Hong Kong's return to China on July 1,1997 sparked great celebrations all over the country.Shortly after the handover,the outbreak of the Asian financial crisis shocked this beautiful island and woke up its people from a jubilant mood.     

Macro-control Succeed in Cooling Economy

International financial experts and economists have generally given a positive assessment of China's economic growth of 9.1% in the third quarter, the slowest pace in more than a year. China's macro-control measures are working in cooling economy and country has reduced its growth to a more sustainable level.     

Hot Money, National Risk?

After the phasal cease of the financial crisis, from the latter half of 2009 and on, the international hot money has been trying to make a comeback and has once again viewed China as its ohieet.Many have chosen Hong Kong as the path into China.In the third quarter of 2009, the hot money which uses Hong Kong as its gateway to flow into mainland China has forced the Hong Kong Monetary Authority to inject capital into the market.