www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

BIZCHINA> Comments & Analysis
Get ready for spectacular investment
By You Nuo (China Daily)
Updated: 2007-01-22 09:31
The most interesting thing to watch last week was certainly Beijing's Financial Work Conference, despite the debate featured in all the media over whether Starbucks coffee should be driven out of the Forbidden City.

Not all the Financial Work Conference's policy proposals have yet been released to the public, as the nation's key financial institutions are still holding their own meetings to set their work agenda for the year that has just begun.

But whatever the specific policies, the stage is already set for China's domestic capital market to show unprecedented liquidity and become one of the world's main magnets for investor money.

Rumor abounds in Chinese-language financial newspapers about millions of US dollars pouring into the Chinese stock market, now partially open to overseas investors.

Supposedly, one manager was asked to handle $700 million, probably from some large international hedge funds. Some people estimate that there could be as much as $80 billion worth of international hot money already inside China.

It doesn't matter whether the rumor can be confirmed. The basic facts are beyond doubt: With 20 trillion yuan ($2.57 trillion) in its 2006 gross domestic product and close to 10 trillion yuan in domestic stock market capitalization, China is a new breeding ground for the world's largest corporations and merger and acquisition deals.

With few ready channels to other investment markets, China's domestic capital from social security funds to private savings is large enough to send its stock market skyrocketing. Enough signs were seen in 2006, when the domestic yuan-denominated A-share index almost doubled in just a few weeks before the end of the year.

Even though A-shares are now supposedly only traded by domestic and licensed foreign institutional investors on the Chinese mainland, there is no way to completely block or effectively check the international money flowing into the market. I personally have some friends, mostly overseas Chinese, who have been busy stir-frying the A-shares quite happily for the last few months.

I was not surprised about the rumor that Lenovo plans a domestic listing in addition to its Hong Kong listing. And if I were Lenovo's finance advisor, what I would say to Lenovo Chairman Yang Yuanqing is: "Do it. Better do it now."

Having said all this, it will be for the benefit of the entire world if the central government in Beijing can handle its "financial work" with new concepts and new skills. Despite the old name, Beijing's financial work is vastly different now from just two years ago, and increasingly changing. There will be a day, not far from now, when the renminbi is fully convertible and the A-share market completely open to international investors, including all the hot money that can easily throw a careless government into a helpless state.

For one thing, controlling the market by dividing its players into different classes and sectors, a method used in the past, will no longer apply. The system will have to shift to the control of process, which requires minute-to-minute monitoring and swift reaction in regulating all players.

So it is right that this year's Finance Work Conference did not accept the proposal for setting up a super bureaucracy to control the State-owned financial institutions. Following such a proposal is like wasting time on whether to have a Starbucks in the Forbidden City.

Instead, to have a responsible and truly independent financial auditing system is a much more pressing task.


(For more biz stories, please visit Industries)
主站蜘蛛池模板: 日本在线理论片 | 国产精品亚洲片夜色在线 | 欧美另类精品一区二区三区 | 美女很黄很黄免费的 | 国产精品久久久久久爽爽爽 | 亚州人成网在线播放 | 高清国产精品久久久久 | 欧美一区二区三区视视频 | 国产一区二区三区免费 | 欧美成人中文字幕 | 成年男女的免费视频网站 | 久久精品国产99久久99久久久 | 宫女淫春3在线观 | 色拍拍噜噜噜aⅴ在线观看 色青青草原桃花久久综合 色婷婷91 | 免费人成年短视频在线观看免费网站 | 日韩国产欧美精品综合二区 | 亚洲国产一区二区三区在线观看 | 国产一级在线 | 国产在线视频一区 | 国产孕妇孕交视频在线观看 | 黄 色 成 年 人小说 | 国产不卡在线视频 | 日韩免费一区二区三区 | 免费国产成人高清在线观看视频 | 国产精品久久久久久久免费大片 | 国产浮力第一页草草影院 | 久久久不卡国产精品一区二区 | 国产日韩一区二区三区在线观看 | 国产不卡a | 国产成人一区二区在线不卡 | 亚洲精品一区二区三区 | 毛片无码国产 | 亚洲欧美日韩视频一区 | 91亚洲精品久久91综合 | 国产成人深夜福利在线观看 | 久久狠狠躁免费观看2020 | 国产三级做爰在线观看∵ | 黄录像欧美片在线观看 | 老师张开腿让我爽了一夜视频 | 男人的天堂视频在线 | 久久视频在线观看免费 |