久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Watchdog: CAO made 'wrong' decisions
By Xie Ye/Wang Ying (China Daily)
Updated: 2004-12-10 00:37

The State-own Asset Supervision and Administration Commission (SASAC) took aim at the beleaguered China Aviation Oil (Singapore) Corp on Friday for violating regulations on trading oil index futures.

It is the first time the government has commented on the financial scandal in which CAO lost US$550 million in derivatives trading.

The oil futures trading of CAO "severely encroach the normal procedure of decision making and made wrong business decisions that caused huge losses," said Du Yuanquan, spokesman of the SASAC, which oversees State enterprises.

Du warned during Friday's press conference that the incident should serve as a reminder to State enterprises.

He called for stronger supervision and risk management mechanisms to avoid similar problems in the future.

China has allowed dozens of State companies to trade futures in selected overseas futures exchanges. But they are strictly barred from speculative trading.

CAO, which dominated China's jet fuel imports, racked up huge losses in speculative trading, after it made a wrong bet on the movement of oil prices.

The company, which has applied for court protection from creditors, is seeking strategic investors for restructuring.

On Friday, China Aviation Oil Holding Company (CAOHC), CAO's parent company, accused CAO of covering up the information for more than a year, Xinhua News Agency reported.

CAOHC said the slack risk supervision and management led to the violation.

Despite the incident, CAOHC said China's domestic jet fuel supply remains unaffected.

CAOHC supplied 7.08 million tons of jet fuel from January to the end of November, up 38 per cent from a year earlier.

Meanwhile, CAOHC is preparing to establish a new trading arm to take over CAO's jet fuel import business.



 
  Today's Top News     Top China News
 

China concerns Japan's overhaul of defense policy

 

   
 

SAFE: Country not reducing US dollar holdings

 

   
 

Coal mine blast kills 33 in Shanxi

 

   
 

Watchdog: CAO made 'wrong' decisions

 

   
 

Betting on renminbi's appreciation banned

 

   
 

Traffic situation better in capital

 

   
  Ships gather to clean up oil spill
   
  Funds earmarked to bring rural children access to information
   
  Coal mine blast kills 33 in Shanxi
   
  Former governor sentenced to 11 years in prison
   
  Court helps workers get overdue pay
   
  Chinese media spread global views
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 婷婷尹人香蕉久久天堂 | 能在线观看的一区二区三区 | 成年大片免费视频播放二级 | 日韩一区二区在线免费观看 | 草草影院ccyy | 亚洲欧美一区在线 | 俄罗斯极品美女毛片免费播放 | 99re8免费视频精品全部 | 亚洲最大的视频网站 | 国产网站免费在线观看 | 美女视频黄色网址 | 欧美视频在线观看 | ririai99在线视频观看 | 国产人成精品综合欧美成人 | 国产在线步兵一区二区三区 | 青青草国产免费国产是公开 | 香蕉成人 | 欧美曰韩一区二区三区 | 国产精品毛片久久久久久久 | 黑人一级黄色片 | 日一区二区 | 亚洲国产日韩欧美 | a级毛片免费高清毛片视频 a级毛片免费高清视频 | 国内精品91最新在线观看 | 国产在线精品香蕉综合网一区 | 亚洲天堂网在线播放 | 亚洲欧美另类视频 | 亚洲免费人成在线视频观看 | 亚洲另类激情综合偷自拍 | 小明台湾成人永久免费看看 | 欧美视频不卡 | 一级片在线观看 | 欧美天堂 | 男人天堂视频网站 | 久久老司机波多野结衣 | 国产成人18黄网站免费网站 | 99久久国产综合精品网成人影院 | 手机看片在线播放 | 久久伊人操 | 性刺激免费视频观看在线观看 | 男女福利|