Cheung, uncovering the truth about 208 billion seven original fleecing the executives listed as defendant

Concern Cheung securities criminal cases will appear at the hearing in Chongqing. It is learnt that the Prosecutor will take the "crime of illegal absorbing deposits from the public on Cheung Corporation", as well as seven former executives. As the hearing date draws near, Cheung securities and seven former executives in more than two years, to 413 family units and 772 individual disguised absorption of funds $ 208 billion for criminal facts will float to the surface.

As in recent years the number of the largest amounts of money involved with financial cases, Cheung securities criminal court decision processes and outcomes for the entire DeLong event related cases of subsequent trials and specification development of securities market of great significance. It is reported that the relevant State departments have organized event follow-up cases involved DeLong of the provincial and municipal courts and their staff to participate in the Tribunal's case--this Cheung.

Focusing 208 billion

In two years time, Cheung securities and their executives are focusing on how to complete the 200 billion of funds, this constitutes Cheung securities and its seven former executives arrested for crimes in the main facts.

The predecessor of Cheung securities--Chongqing security on 15 June 2000. The beginning of 2002, Chongqing securities through the absorption of Xinjiang gold new trust investment co., Ltd., the shareholders of enlargement, to apply for the China Securities Regulatory Commission changed its name to Cheung securities company.

It was established later, Cheung securities in Shanghai Union Management Research Center co., Ltd. 's instigation and manipulation, in violation of State and the provisions of the relevant departments, and customers were signed the principal contract and supplemental agreement, in the supplementary Protocol to the offence committed and enhancement and 3%-22% of the fixed income as bait, illegal conduct asset management business, until the incident.

Shanghai Union founded on 5 June 2001, the former Chongqing securities, gold founded the new trust. 30 August 2002, renamed as Shanghai Union Management Research Center co., Ltd. Zhang industry light as the company directors, Vice Presidents. Zhang is also the Chairman of the Board of Directors of Cheung securities

The asset management business, Cheung securities accept ，Youlian company issued annual sequestration program indicators, implementation of Shanghai Union company's traffic statistics, financing costs approved to conduct business management system, the sequestration of funds to the Union company, Shanghai to hold funds allocation will be way allocation, use.

Cheung securities was accused of illegal specific absorption public deposits amount to 2088918.66 million (as of 27 July 2004), the object involves 413 family units and 772 individuals. The funds mainly by Shanghai Union company decided, for the purchase of Xinjiang tunhe, Xiang torch, alloy investment, stocks and bonds; transfer to other units, the asset management contract and payment of principal and interest payment of asset management business of intermediaries and financial management, etc. -At the time of the incident, there are the funds failed to 680861.20 million payment.

Seven executives directly manipulate capital chain

It is understood that, together with Cheung securities listed as the present case the defendant's original basic including Cheung securities management all executives except for the legal representative, President Zhang industry light another case, as the defendant's seven former executives, including former President of South Korea Cheung securities new forest, former Vice President Guo Jian-Wei and Shao yi Cheng, former Deputy Chief Accountant, Chief Executive by universal suffrage Lee Assistant and asset management departments of the General Manager of the Plebs, former General Manager Wang Wei investment management, planned management was General Manager Xie yan.

Public prosecution service information to show that the defendant units carry out the unlawful Cheung securities asset management business process, gradually formed a light by Zhang industry and the accused in Korea a new forest, Guo Jian-Wei, Li Shao-yi Cheng, general decision-making, asset management, investment management, program management, Division of the Department, following established Shanghai, Chongqing, Tianjin, Chengdu and Shenyang, Xinjiang, Shenzhen 14 Sales Department for specific operations sector operation system, Cheung securities through a series of system and measures to promote the unlawful conduct of asset management.

In Korea a new forest as a Director, President, Cheung securities, knowing the law does not allow to promise-and fixed-yield manner asset management business, is still a positive decision, command its asset management business, Han I direct audit asset management contract 11, absorption of funds 1.5 billion yuan, Han also concrete implementation of the operational funds for illegal uptake, and get financial costs. Han, 16 September 2004, is the Chongqing Municipal Public Security Bureau detention, on 22 October the same year.

Guo Jian-Wei knows break still actively promotes its asset management business, the asset management contract directly to the audit, the absorption of funds 637 billion, generating a mediation fee 1800 million, financial expenses of 2700 million, a person in charge of the securities business, the absorption of funds 13 billion, equally specific implementation plan illegal uptake of funds and financial costs.

On Shao Li Yi cheng, universal suffrage, Plebs, Wang gang, Xie Yunyan prosecutions referred knows break also actively promote the asset management business, and did a number of intermediary costs and financial costs, of which only one audit Plebs asset management contract 1206, absorption of funds 100 billion.

In May 2004, the Commission sent an investigation team, Korea Cheung securities new forest represents Cheung securities to the public security organs provides illegal conduct asset management business-related information, the new forest, Guo Jian-Wei, Li Shao-yi Cheng, universal suffrage, Wang gang initiative to carry out the unlawful asset management business.

2004-05, 16 September, the defendants were caught by the police, after being arrested, detained in Chongqing City detention center, Xie yan are on bail. Prosecutor believes that Cheung securities and 7-bit original executives Act violated the People's Republic of China article article 176 shall be to the crime of illegal absorbing deposits from the public accountability of their criminal responsibility.

Cheung securities Chairman Zhang industry light, the prosecution asserts that "another case". Tangwanxin et al. was Prosecutor as witnesses.

　

The actual controller issues

About Cheung securities and seven former executives are suspected of crime pending results, but from the public prosecution authorities, etc. reveal information display, Shanghai Union in Cheung securities for illegal absorb deposits from the public have an important role in.

Shanghai Union company orders directly to Cheung securities annual sequestration program indicators, business statistics, financing costs approved to conduct business management system, the sequestration of funds to the Union company in Shanghai, Zhang industry light as the company directors, Vice Presidents, Zhang is also the Chairman of the Board, Mr. CHEUNG securities play Center dispatch function.

According to the relevant information, DeLong international actual control for Cheung securities, issued in Drilon internal documents show, DeLong international and holding ，Youlian Cheung securities directly integrated into the entire DeLong, capital operation, Cheung securities as the independence of the legal unit is virtually non-existent. 30 April 2004 Cheung DeLong international securities due to the commitment letter of recognition for built international Cheung securities "effective control", and "drawn in recent emergency funds to back pad your customer transactions settlement funds, because your customer transactions settlement funds and asset management business of debts, economic liability by us bear." All kinds of evidence, DeLong Cheung international on direct manipulation of securities.

As will appear from Chongqing City intermediate people's court hearing the entire case is Cheung securities DeLong event after the first public hearing of the case.

Minfa securities "thank you"

August 8, minfa securities within the personal debt of Fujian province acquired funds to start buying. Journalists in proxy cashing Bank — Bank of individual outlets in Fuzhou, personal investor sentiment, to honour the work order.

Minfa securities "thank you" to calm

Minfa securities requires payment of personal debt 9.6 billion. "These countries have no problem. "Bank of China, a charge of cashing outlets told reporters. This means that, as an important part of the securities clearing minfa individual investor claims solves the problem.

Institutional debt securities will sell minfa dozens of sales proceeds to a proportionate satisfaction. "Minfa securities existing 30 home sales department, 19 service, nowadays, it's still very stable brokerage, Fuzhou several sales still profitable. These outlets should be able to sell a good price. At the same time, we also made the investment risk, loss part slowly can digest. "A credit institution's legal representative optimistic to say. Minfa securities sector debt to 95 billion, spread to more than 200 organizations, including some like China life so famous industry leading enterprises.

Debt handling the tricky is a "personal name" to institutions of the creditor's rights. Minfa securities custody group disclosure, minfa securities in Fujian province in the "personal" in the name of the institution of 24 households nancial involving 2393, amount 14263 million. Managed groups hope the Fujian province departments in conditions permit, you can reference the Tianjin Municipal Government resolve the individual institutions in the South of securities "debt" mode.

Staff have been properly placed. Minfa securities over last name within a staff said: "take the buy out of service. Buy new Club recruited after that we go on with your work, not employed on other Fortune! "

Minfa securities is 18 October 2004, in the event of a serious of insolvency, a payment crisis, was formally managed business East asset management companies. It was managed operators group statistics, minfa securities agency debt to 95 billion personal debt deduction for 9.6 billion, 15 million of accounts receivable, total losses of up to 90 billion.

"Capital player" and "ATM"

Wu Yong Hong is minfa securities of "Gravedigger". Minfa securities was founded in May 1988, founder of the people's Bank of China Fujian branch subordinate enterprises, registered capital of RMB 10 million. In July 1996, the people's bank branches and at all levels are issued under the Corporation's notice of decoupling, minfa securities began and the people's Bank of decoupling. The same year, Kelly industrial co., Ltd. China master minfa securities. Back in December, minfa securities capital increased to $ 10919, Kelly company holds 60 million shares, share 54.95%. Wu Yong Hong ren legal representative Association of Fujian Sheng company holds 1000 million shares, share ratio is about 10%.

Wu Yong Hong was once considered local capital operation of "master," and his "career" is a credit loan in Quanzhou city 3000 $ start. Wu Yong Hong uses this funding, through repeated throughout the flight, registered over 20 companies. These companies are secured, to the acquisition of bank loans to several hundred million dollars, minfa securities business.

In March 1999, Kelly company equity securities held minfa. external transfer In August, the manipulation by Wu Yong Hong sheng, Shishi, Fujian Federation into containers, five enterprises take advantage of the assignee all the Kelly company shares. In November 2000, minfa securities sticks to 8 billion. Wu Yong Hong use minfa securities the identity of the shareholder, manipulating their own hip Shing, Shishi, Fujian into containers and other companies, misappropriation of client security deposit, minfa securities violations to bank loans, false "injected" minfa securities, holders of its more than 51% of shares in full control of the minfa securities company.

Industry insiders describe Wu Yong Hong "karate" method: first Bank shareholders deposit and nancial funds into securities unlisted company minfa by unlisted companies through false transactions to Fujian hip shing and its associated companies, the Association last Cinderella Fujian sheng, minfa securities investment. Wu Yong Hong as funds transfers established minfa securities unlisted companies up to over 20.

In October 2001, Wu was a criminal case Yonghong counterparts wanted, he fled. Minfa securities from Zhang Xiao Wei control, Wu Yonghong outside the "remote control" flight of capital. CEO Zhang Xiao Wei Yong Hong NG in meet funding requirements at the same time, they also "not to be outdone," personal or minfa securities funds, on behalf of misappropriated investment real estate, stocks, futures, etc. to reap huge benefits. Preliminary statistics, two-person flight, misappropriated funds several billion dollars.

Minfa securities violations "shady"

In order to maintain capital chain continues to fall, minfa securities blind expansion nancial, promise customers guarantees and high interest rates. Journalists get a blank nancial agreement shows, minfa securities to customers guaranteed interest up to 10%, far higher than the General nancial market 4%-5%, and the majority of interest can also be paid in advance. Therefore, many organizations, individuals have the funds entrusted to purchase Treasury bonds minfa securities "," transfer of securities is to minfa "repo" set out in the form of financial stocks. In recent years, China's stock market a long-term bear market, unscrupulous, reckless and attract more high-interest financing funds become minfa securities remain "capital chain only select" continuously.

Minfa securities company in order to get more money, a salesperson for a par of yewuticheng to various tricks to deceive investors. In order to discourage investors concerns, some brokers also to supplement the agreement in the form of the full moon to minfa risk.

Minfa securities of large sums of money there are five directions: bin distributer holds A share markets of stocks, bonds trading, speculative futures, fried remitted out of H shares and inflow Wu Yong Hong and Zhang Xiao Wei personal control of the company. Minfa securities on the stock exchange of a third province only stock flow spare parts ratio was up to 9

7%, 60% and 40% loss. Shanghai Stock Exchange Web site statistics, according to the national debt stock trading volume ranks, minfa securities in 2001 column on the all Member units of the second place, ranked first in 2002, in August 2003, the Treasury market upheaval, minfa securities losses. Minfa securities acquisition futures brokerage companies, and their actions futures trading, resulting in huge losses. Minfa securities funds through underground Bank, and other sources to flow to overseas market, speculative h-shares.

Stock index futures to 10% margin.

Margin rate of 8% to 10%. .After half a month of testing, China Financial Futures Exchange (hereinafter referred to as "gold") on simulated trading yesterday on the stock index futures contracts to make the first adjustment. .Reporter was informed yesterday from sources yesterday after the close of gold in the simulation to the stock index futures trading in the futures company issued a fame, "Simulation of the contract deposit rate adjustment index" notice. .In Jin Suoxuan cloth, contract IF0611, IF0612, IF0703, IF0706 margin rate from the time when yesterday's balance sheet increased from 8% to 10%. .Where the notification of gold also reminded member of the simulation, this Friday (November 17) is the last trading day of the contract IF0611, IF0701 contract will be next Monday (Nov. 20) stock exchanges. .Influence by this adjustment, the futures companies have also adjusted the earlier yesterday, the margin ratio, the reporter access to a number of futures yesterday after the company's Web site understand that most companies have also announced the simultaneous simulation of trading margin increased. .Most of the adjusted ratio of about 13%. .Under the original "simulation trading rules": simulation trading contract multiplier of 300 yuan / point, the transaction fee is 30 yuan per hand; contracts margin to 8% of the contract value. .Assuming IF0611 1500 futures price point, the hand of the face value of the contract 15000 × 300 = 450000 yuan, according to 8% of gold in the calculation of margin requirements, trading margin for the primary contract 450000 × 8% = 36000 yuan. .In the adjustment, the margin will be increased to 45,000 yuan. .Investors need to rely on due to the general membership of gold in the unit as an intermediary to conduct investment in stock index futures, and futures companies as a member of the general level of customer margin deposits of gold is higher than the standard margin of 13% .level of calculation, the primary stock index futures contracts require margin required 58,500 yuan. ."This gold in the adjustment should be systematic in order to better test would also help investors enhanced awareness of risk control." Central University of Finance and the Securities and Futures Guo Tian Yong, deputy director of the Institute said. .The vice president Wang Wei Yi Futures, said that the use of virtual money, investors and therefore the attention of the price difference is weak, a corresponding sense of risk control is not strong. .Futures in the channel through Han Yi Beijing vice president of business opinion, this adjustment still has a stock index futures, "cool" means. ."The recent simulation trading a little overheated." According to Han Yi introduction, spread trading point of the recent great moments Change hundreds of points. ."This is impossible in the real deal in the non-normal offer, some investors are too playful, and should be simulated trading seriously as a serious matter, to participate seriously." According to report, the company in Nanjing Road, through futures .Brokerage Co., Ltd. from November 8 onwards simulation of social investors and opening up stock trading system, just 4 days to register to participate in simulated trading of individual investors to have 760, while the daily turnover of 700 from last Wednesday's hands quickly .Yesterday's 8724 growth to hand simulation trading in gold in the transaction has been accounted for 3% of the total proportion. ."Transaction process, many investors from the shareholders of inertia for the operation mechanism of futures trading, fund management and risk control procedures not fully familiar with, and is still used to buy up not selling, and often forget to select the open positions." Han Yi .that, not only to gold in the control system, the futures companies should investors start more systematic and comprehensive knowledge of stock index futures training..

Insider dealing and market manipulation dealer who care or be sued.

<P> With the judicial interpretation of Supreme People's Court on the formulation of the Securities Act of the advance against the stock market "insider dealing and market manipulation" behavior, is expected to include the scope of securities civil compensation. .Earlier, the court accepted only because of "false statements" in civil damages caused by the securities cases. .Recently, this reporter academic experts from the Law Department that, in order to protect the interests of investors are working on the Supreme Court judicial interpretation of the Securities Act. .The drafting of judicial interpretation of the Securities Act, will stock all kinds of violations, which should bear the legal responsibility to make provisions. .These violations would include "insider trading and market manipulation" and seriously affect the stock market fair trade and sustainable development of behavior. .</ P> <P> </ P>.

SSE Severe restrictions and more sensation in a stock account.

<P> According to information, regulators, the stock market phenomenon and then a heavy sensation. .Shanghai Stock Exchange announced yesterday that Bao Qing Road, Shanghai Orient Securities Sales Department in the near future of a more personal account only the daily limit for large stock transactions repeatedly, seriously affecting the stock price, the decision to impose restrictions on trade measures. .</ P> <P> Jingxian "Zhuanggu Camp" </ P> <P> According to public information exchange, Bao Qing Road, Shanghai Orient Securities Sales Department in the past three sessions, respectively, have been students in the sale of the North .Pharmaceutical (6.45,0.59,10.07%) (600,556), Yatai Group (16.96,0.00,0.00%) (600,881) and Hangxiao Steel (17.64,0.23,1.32%) (600,477) Sales of the top five list (commonly known as .Billboard.) .Among them, the survey Hangxiao Steel in the "300 billion yuan order", the gains over the past eight trading days and more than 70%; North Pharma after the opening bell yesterday, just 3 minutes to seal in the limit; Yatai Group and the Monday .pull the two trading day Tuesday trading board, but yesterday suddenly announced that "due to the important issues to suspension without notice." .In this regard, who yesterday declined to comment on Orient Securities. .</ P> <P> SSE official said the recent stock market trading has become increasingly active as the short-term speculation over the phenomenon is increasingly clear, the SSE found several times in the transaction monitoring, individual accounts was higher than the market through .price sale price declared large, continuous trading, to quickly push stock prices higher, resulting in limit, the normal supply and demand affect the stock market, disrupt the market order. .</ P> <P> After repeated investigation and analysis, SSE locked Baoqing Road in the east securities business department of Shanghai accounts for an individual account, expressed concern that only the daily limit of its stock in the near future many large deals in the repeated, serious .affect share prices. .To further increase the time to stop efforts to implement the directives of the Commission's supervision, in the case of prior warnings, the SSE trading rules under the relevant provisions of the account taken of the restrictive trade measures. .</ P> <P> SSE crackdown illegal trading </ P> <P> under the securities laws, stock exchange as needed, can be significant abnormal trading limit trading of securities accounts. .However, SSE did not explain "restricted transactions" of the specific meaning, but also did not say how long the account transaction limits. .SSE official said, the future will not rule out the use of more restrictive trade measures to combat illegal trading, maintaining market order. .</ P> <P> Previously, the SSE market only in the last year, Baosteel Warrants stir over the course of the implementation of restrictive trade measures. .Last Aug. 15, for "Baosteel Warrants" transaction does not exist in standard operating behavior, the SSE of the Jiangsu Road, Shanghai Guotai Junan Securities sales department of a securities account to a "restrictive trade intraday" measures. .Recently, A-share market part of the stock bull market environment in some irrational phenomenon of sensation, increased regulatory investigation efforts accordingly. .* ST on Friday, long control, and its resumption of trading after the completion of share reform, touching 85.00 yuan on the day of the highest, complex or more than 1000% right, unbridled power of intraday speculation, was finally ordered to suspend exchanges. .In addition, the SFC also Hangxiao Steel recently, three general medicine (19.82, -0.09, -0.45%) of the stock transaction investigation. .</ P>.

Managing the implementation of QDII negative impact on the A shares limited.

<P>: Http:// News, starting today, meet the "qualified domestic institutional investors outside the Trial Measures for Administration of Securities Investment" (hereinafter referred to as "QDII management approach") and related conditions, the fund companies and securities companies will be able to formally apply for .QDII qualification, QDII expansion is imminent. .It is understood that some of the strength of the fund companies and brokerages have been fully prepared. .</ P> <P> deputy general manager of China Southern Fund, said Xu Xiaosong, the company started as early as six months ago had been preparing for QDII products work with the United States Mellon Group has reached an agreement, basically mature product design, the initial .envisaged that only the company's first QDII product design initiatives for the medium to high risk stock funds. .And a broker who also revealed that the larger brokerage firms in Shenzhen are also long been working on the design of related products, and products are mainly stock funds. .</ P> <P> Xu Xiaosong also said the company related to investment and research staff, which has overseas experience in investment management personnel, are also already in place. .</ P> <P> "for the company, diversified product mix is important, the business expanded to the outside from the inside is a fundamental change; In addition, many investors began to demand with global asset allocation .. "Xu Xiaosong said. .</ P> <P> QDII Measures for the Administration of eligibility for the proposed fund management companies and securities company's financial condition, credit, asset management, and business life to make detailed provisions Dengjun. .Statistics show that, in line with the relevant conditions of the fund company a few, about 20. .</ P> <P> Prior to this, banks have been commanding the QDII market. .An industry that the current Bank launched the QDII products have generally sought after by investors, I believe by the Fund, brokerage these professional asset management company launched QDII products will be recognized by the market. .And there are some people worried about the expected RMB appreciation would affect the sale of such products, but Xu Xiaosong, said the company in the design of products has been fully taken into account this factor, but in the long run, the product can make up for revenue losses of RMB appreciation .. .</ P> <P> QDII management practices since the Commission issued since the market which some panic. .Because in theory, QDII will be A-share market funds divert the traffic. .However, the Shenzhen, a fund manager that, QDII on the negative impact of A-share market is rather limited, because the amount of its funds, after all, is very small. .</ P>.

"Big brother" recorded 1300 million! before the hunch arrested

News: http://, July 2, 2007, on the network, masterful "take the lead in big brother 777" was Jilin Province police on suspicion of use of the network operating investment business criminal detention, his true identity are starting to surface.

According to Oriental Morning Post reported, in fact, "take the lead in big brother 777" this named xiujie, in his own blog claiming to be called Wang, he likes to 777 as their lucky numbers drop in your own nickname, "the lead big brother" behind his donation charitable projects have also been his own called "happy 777" project, and the like, but do not have to like digital 7 Wang bring.

"Big brother" recorded 1300 million

Xiujie's energy is great, although many people estimate in millions of dollars, but also media value in $ 7 million, according to reliable sources, the charges xiujie was approximately 900 members, the fees of up to 1300 million.

Netizen "small is the new" with the "big brother" began to trade stocks, in conversation with journalist he confirmed the authenticity of the digital, but also for those who defame the reputation of the "big brother" expressed some dissatisfaction. "More people, service quality, naturally, in fact, in the beginning, we are the ' big brother ' personally Guide, from opening to closing of ' big brother ' will always follow it, then the ' big brother ' also has always insisted on doing this, just one more and more, busy time there. "No one more than xiujie himself clear Network Magic, stock index rose to 4000 points, this is known as the genius of financiers begin clinical view of their own was deified after the flesh, to crush his idol is not a stock which is the regulation of securities market regulations, through close contact xiujie interview learn from April onwards, xiujie began to return related counselling fees of self-redemption process.

One person said xiujie side, xiujie in several places across the country to share knowledge, this is his first "disciples", probably in more than 70, in the beginning of April this year, beginning by xiujie familiar people gradually return these people turn of "tuition fee". He is on his side, who said: "because they were the first, I have a feeling to them. "A larger refund action despite being xiujie started, but eventually couldn't find him in the police. Related insider said Police seize "take the lead in big brother 777", he also guide in front of a computer retail for short-term operations.

Once in the "take the lead in big brother 777" QQ Group of users to the reporter that his exit when he got the first half of the costs. "The ' big brother ' at that time, because there had been such a commitment, his group and one of the first is whether you are in stock markets, if you lose or win back group will return to each other at the half of the paid fees. ”

Some insiders said xiujie's own funds and not everyone can imagine many estimate down that 200 million, he is not a real millionaire, away gradually give up money, leaving millions of dollars have purchased shares. "Because of his own ability is very confident. ”

Blackstone shares Lansing Department of mystery lead to suspension of collective share limit today.

<P>: Http:// News, Today, Blue Star Group, Blue Star Cleaning of three listed companies (000,598), Shenyang Chemical Industry (00698) and Xingxincailiao (600299) announcement that the collective, then the controlling shareholder of Blue Star Group .notice, Blue Star Group and the Founder of the major issues discussed, because the matter needs further confirmation, the stock suspension with immediate effect, until after the disclosure of matters related to identifying and resume trading. .</ P> <P> Yesterday, the Blue Star Group's impressive performance of several listed companies, in addition to S Blue petrochemical suspended due to matters outside of the share reform, the rest are rising across the board, of which Blue Star Cleaning and Shenyang Chemical limit the board are sealed in a strong .. .</ P> <P> Recently, the news about the Blue Star Group, flying, such as Blue Star Group has three listed companies from its Blue Star Cleaning and Shenyang Chemical Industry and Xingxincailiao portion of the equity, the packed .sold to Blackstone Group, Blackstone Group, as the company's introduction of strategic investors; there are rumors Xingxincailiao Blue Star Group will achieve the overall market and so on. .Although the three companies have issued a clarification notice, but the market's investment enthusiasm is still very high. .</ P> <P> reporter then interviewed Xingxincailiao company staff, the staff member said, the introduction of strategic investors is not a trivial thing, the company carefully considered. .The Group will achieve the overall market through the company, then not heard. .</ P>.

Nan Yi separate ways into the market impulses private capital gearing.

<P> Although the market is still unstable, although prospects are still many uncertainties, but the bulk of funds into the market sector has been simmering. .There are signs, including the equity new fund, special account banking, QFII, private and corporate pension funds, including institutional separate ways, have been eyeing the recent turbulence in the lower A-share market continued. .Perhaps the broader market will continue to shock, perhaps not the end of the last arrival of the market, but these are difficult to stop the agency strategic distribution of funds from now on. .</ P> <P> new fund will be significant cumulative effect Jiancang </ P> <P> stock of new funds into the market early in its re-release since the day floodgates to wide attention by the market. .</ P> <P> "We now maintain a moderate position." CCB advantage of dynamic fund manager Chen Peng of the "Shanghai Securities News," said the macro-economic fundamentals remain in good condition, but much too short-term factors .complex. .4.6 billion of construction of the scale advantages of Dynamic Equity Fund letter is March 19 this year, market Jiancang, and it is only the first entry of the new stock funds. .Therefore, the first new funds into the market only as observation platforms, outside agencies may be able to see the current attitude of the market or to enter the market. .Chen Peng told reporters that he was not revealed to the outside world Jiancang more details, but the current market, caution is necessary Jiancang. .</ P> <P> "market pessimism has not been enough to release", for this new fund managers, this is a reason to take one of caution. ."Must identify and analyze these uncertainties in order to seize the investment opportunities." He said. .</ P> <P> It http:// hearing, it is still more because of short-term factors, in the eyes of a considerable number of market participants, even the market is only gradually, is robust, it is local. .Some fund managers are stressed in an interview in the current new context, the investment is not the main focus on the industry the opportunity to, first and foremost is the selection of individual stocks, especially high-quality undervalued stocks. .Chen Peng's view, too, he answered the distribution of species on the Jiancang industry, said, "CCB combination of advantages of the current distribution of power fund a more balanced and does not highlight the individual industries, we value the stock investment opportunities." </ .P> <P> Although the new funds into the market outside the influence of more than a suspicion, especially the size of a single new funds are raised, "are weak", the so-called "hundreds of billions of new funds into the market" is just a simple projection and .wishful thinking. .But had to be noted is that when new funds into the Jiancang one by one period, the cumulative effect will begin to appear. .Now, the Fund approved 40 new 20 new funds have been released, including 10 partial shares of the new funds, 10 bond funds, a total of 11 new funds raised end. .Which the Bank strategy, the South Sheng Yuan, CCB advantage power three partial shares of the new fund had already begun Jiancang, the total size of 15.5 billion; Pu Silver AXA's first stock fund products has also recently raised is completed, will soon join .to Jiancang ranks. .</ P> <P> about inflation expectations Jiancang strategy </ P> <P> ready to issue a number of new funds and to enter the market and are actively looking for investment targets. .</ P> <P> While the current mainstream view that the adjustment of the overall market is still not over, but can not be ignored is that some stock prices fell sharply due to its investment opportunities are emerging. .For some stocks investment opportunities arise, a new fund of funds manager said that if the high CPI, then, no one wants full warehouse operations, more choices may be the camera to capture short-term investment opportunities victimizes. .Boshi Fund Market Review, also published last week that the market price will reflect issues of concern, but there is over-reflected; the current market stock price of the basic fallen by half, and some decline in two-thirds increase over the original, to the .relatively low, in the current market conditions, institutional investors have a great advantage, individual investors herd behavior may lead to missed investment opportunities. .</ P> <P>.

Real estate stocks is a rebound or reversal? .How the future trend of real estate stocks?.

<P> Weekend, National Bureau of Statistics August economic data, although the CPI continues to be ascribed to bad news, but no further follow-up, the market can be successfully rebound. .Real estate sector to adjust the weights in place, led by heavyweight bounce back. .Point of view from the disk, close to the rise of real estate stocks when closed led the index upward. .The rise of real estate stocks, I think there are two reasons, first weekend, the central bank to raise interest rates and other markets is not expected to announce the bad news, the second is real estate stocks have hit the half-line callback is technically strong support. .</ P> <P> that real estate stocks is a rebound or reversal? Its 25 times earnings is really underestimated it? Latest data show, August 70 cities nationwide housing sales price rose 9.3%, or more than .narrowed by 1.0 percentage point in July, the chain with the previous month. .So how can we look at these data and future trend of real estate stocks? </ P> <P> strong growth in new construction is still expected that the developer still optimistic. .New construction in August changed the trend of decline in July, once again picked up the chain, indicating that the developer still optimistic of expectations. .Home prices in August than in July although the flat, but may enter the market with the August ratio of less 高价房 related to the coming season with the traditional buyers and some buyers panic admission, the future "Golden September and silver October" may be .ushered in not only the big bang, a new round of prices may rebound. .</ P> <P> trend for today's real estate stocks, I think, the recent rebound in prices is expected to lead to future regulation. .As long as housing prices rebound, the market that will include credit, interest rate and the expected introduction of the austerity policies will affect the valuation of real estate stocks down, and banks as its high-growth real estate aura has faded, and its .valuation by the market re-positioning in turn, so did not return to rational prices until the arrival of the industry's big chance to be difficult. .</ P> <P> So, today, although the real estate section of the strong, but also a flash in the pan, too many uncertainties due to the plate, and although the valuation is not high, but if high prices do not turn around, it is estimated the national follow-up control policy .will also be introduced, the real estate sector would be difficult to take a good! </ P> <P> but poor prospects in the real estate sector under the circumstances, there is still a number of protected investment will increase the impact of housing stocks, of which central investment .63.2 billion in the year based on the additional investment to 104.9 billion yuan, benefit from this protection of housing construction in the listed companies have investment real estate, deep Tianjian and Hualian Holdings, is not suppressed by the commercial real estate on behalf of China International Trade and China Baoan ., built of shares, etc., these listed companies within the real estate section is not within the national macro-control, investors should be given due attention. .【】 </ P>.

Fund joint short long electric front smashed many camp vision large bull market

Yesterday, CITIC Securities, shares and other six Nelson pilot company also issued a public notice, will be held on stock reform programmes and the electronic Investor Conference scene, listen to the investors on the company's stock reform programme, which marks and investor communication activities gradually peak.

At the same time, the Fund of the United Front stick together are beginning to collapse. Not long ago the Yangtze power in Beijing, Shanghai, Shenzhen hold unit into pilot Exchange, Fund of intent between the different attitude after the city was in fact formed many empty confrontation of the two camps, with the first round of many empty account.

Draw a long electric disputes-out camps

Since may, the unit into the pilot began the first company to debut, and Shanghai stock market crash once more than 13%. The Fund is the main stocks become short, behind the show was successful in positional warfare has gradually been abandoned, institutions, Fund of panic selling involving large disk. However, the real show events should fund differences occur in early June.

Yangtze power almost denied rumors of a pilot, the company management is divided into several different parts of the road on a trial basis for institutional investors to touch up. Many involved in the communication will fund managers on the power of hard-line attitude very dissatisfied. In particular, the power of the Yangtze River in Shenzhen, superior attitude of grievances incurred by the Fund. On the day of the Yangtze power to each Fund remain only half an hour, and clearly indicated that they would not let the pilot, in the worst way by warrants. Although the Fund Manager of the strong opposition, but the attitude of the Yangtze power really annoyed these institutional investors. June 10th, with Shenzhen Changjiang electric institutional investors on the day of their private communication, according to industry sources, the Guangdong region Fund to sell millions of units of a large number of Yangtze power to suppress its stock price. Day Yangtze power dropped by more than 3% of the turnover of 80 million shares, thus reversing the rebound momentum, a 4-disc surface.

Sell Yangtze power of Fund Manager shows your own impact plate surface strength, but also on the power of intention to constitute a pilot project. But what do empty Fund unexpected is that other Fund taking advantage of the massive power of the Yangtze River fall, which will absorb the Yangtze power of stock price stability in the $ 8. And public companies "vindictive" Fund, and did not receive peer support in action. In 42 stock suspension begins after the city after several empty expected differences, are becoming increasingly apparent. If a geographical breakdown, in General to Northern-dominated many camps, from the height of the system transition to understand recent much good, firmly believes that the market had already embarked on a comprehensive channel; empty warm up party in the South region is obvious, from a macro, the valuation industry prosperity change and chaos, etc., that remain difficult to grasp after city, pessimistic.

Great bull market all camp vision

The Fund's optimistic on behalf of the first Fortis haitong income fund manager Zhang Wei and gratefully, Manager Zhaodanyang. Zhang Wei, see management spectrum push good, but people still very pessimistic, largely due to long-term bear market mentality is not reversed. In the current market needs great bull market under idea. But history will prove, as markets rise, repeatedly demonstrated market cannot rise experts, will automatically join the demonstration of increased the ranks of inevitability, it has been confirmed by various market. Based on the macroeconomic soft landing, a stock market with the right to property and valuation level of blue chips, he believes that currently published few had good will in future form overlay effect, promote the market entered a bull market. Market known as the "dead Bull" zhaodanyang also from comparison of domestic and international capital market, GDP and market indices of relevance, United States and China cyclical industry learn from each other, the analysis considers that now is the time for institutional strategic barn.

Whereas the rear city pessimistic prudent agencies invariably mentioned contraction condition changes of corporate earnings, and valuation in the reform of the chaos of the interference. A Fund Manager said that many policy failure and rescue pilot shares second startup market may face the exact situation of imbalance.

In particular, Baosteel power and Yangtze River (information market Forum) pilot is to safeguard the interests of the State-owned assets and to obtain shareholder approval circulation, coordination difficult. In the payment of the consideration is difficult to determine, in the city more need to consider risks.

Stocks to look at the policy's face

Many empty confrontation, but both sides on the macro-control of real estate are considerable attention, different is empty party saw profit decline, supporting stock prices increasingly bleak fundamentals; but many are from real estate regulation see countries "at hand". Last year the national to the iron and steel, aluminum and so on cooling and the regulation of real estate at the beginning of this year's heavy hand, the Government's determination. In management's true gold, declining House prices finally entered. Also in the stock market, the Government indicates that the market to take a good attitude, and award-winning out good. In a large number of blue chip companies to "break the net", earnings record international minimum standards, as long as investors confidence in the stability, the market will change to decline, and thus a wave of strong uptrend.

Many reasons, in addition to A unit and the H-share market exist structural difference will not be able to draw on, A unit of power, trade stocks see policy is also important. Optimistic party believes that the 2007 China will celebrate with the Conference, 2008 will celebrate the Beijing Olympic Games, the 2010 Shanghai World Expo will be ushered in. This series of events to the Chinese economy will be at the end of 2006 or early 2007 a new round of growth period. From a macro perspective, people's Bank has been the lead progressively towards a neutral monetary policy, real estate, a soft landing. Policy in the face of the market's positive impact will gradually restore investor confidence, laid back city strong foundation.

By Chinese stocks dragged the Hang Seng Index dropped 100 points again

Yesterday, the Hong Kong stock market fell again. As investors wait long and interim results, plus the surrounding stock market weakness, the Hang Seng index fell by 100.04 point again, points, closing 14873.85 0.668%. Daily market turnover 201.59 billion, compared with the previous trading day marked atrophy. At this point, since the Hong Kong stock market last week began to adjust, the Hang Seng index in just 5 business days has decreased by nearly 600 points accumulated.

In addition to the local utility unit, yesterday's financial, real estate and business class a shares are not small. By CNOOC (0883.HK) and China Mobile (0941.HK) poor performance as a result, red chips run exports plunge and the Hong Kong stock market, CNOOC declined 2.679% closing 5.45; 0.443% decline in mobile, closing 33.7. In addition, PetroChina (0857.HK), China Telecom (0728.HK) and Sinopec (0386.HK) three quanzhonggu encumbered, h-become the largest decline in the stock of plate, h-shares index decrease 1.317% in a single day.

The Mainland of the listed company equity division reform of guidance, clear the unit into A unit in only, which means that with the right to have the h-share of A stock-listed companies, in their future stock reform process, H shareholders will not be able to get the corresponding compensate for the price, the h-share market constitutes bad. Some of the H-share market investors fear that their interests could be related A share companies of equity division reform by injury.

In addition, h-share company disclosed in the report are not good or bad, on the market also has a certain influence. Which the automobile h share Qingling Motors (1122.HK) disclosure of the medium-term net profit as shown, the RMB 2659.5 million, an increase of nearly 6% dropped significantly, and does not distribute interim dividend, the unit yesterday thus fell 4.44% to HK $ 1.29. H-share company interim results performance although questioned, but including profit increases of up to several times the enterprise, the medium-term programme proposed dividend of H shares very little.

In addition, foreign organisations attitude womanliness, allows investors to see emotions increase. As for Chinese automotive unit, on the one hand, the automotive market has become increasingly fierce price competition, as well as profits plunged by Qingling motors, to such stock on the investment value. On the other hand, Merrill has extremely optimistic about the Mainland car unit, the row is envisaged for the month of November in the automotive industry, published in the third quarter results can bring good news, when this type of stock is expected to be a breakthrough in the market.

Also, investors confused is that not long ago Citigroup also in its latest regional strategic report reaffirms that Hong Kong is its Asia Pacific portfolio holdings of amplitude in the model's largest market. The line is still up to the end of the maintenance of Hsi near 17100 point estimated target bit.

Hu and Wen delivered an important speech, a group of stocks outbreak brewing.

【Introduction】 <P> 30th CPC Central Committee Political Bureau held a meeting to analyze the current economic situation of economic work next year to discuss population and family planning work. .CPC General Secretary Hu Jintao presided over the meeting. .The convening of a few years, the Central Economic Work Conference will make many important decisions, the economic life of the common people will have a significant impact, but will also change the period of China's securities markets in far-reaching significance. .</ P> <P> the CPC Central Committee Political Bureau held a meeting to study the economic work next year </ P> <P> to maintain stable and rapid economic growth to avoid big ups and downs </ P> <P> recent Central Economic Work Conference will be held in Communist China .30, the Central Political Bureau held a meeting to analyze the current economic situation, research economic work next year to discuss population and family planning work. .CPC General Secretary Hu Jintao presided over the meeting. .</ P> <P> meeting held that year, the whole Party and thoroughly implement the scientific concept of development, the deployment of the full implementation of the central authorities, the national economy continue to move in the expected direction of macro regulation and control, maintaining a growth rate faster, cost-effective .better, lower price level trend accelerated pace of industrial restructuring, independent innovation actively promoted reforms in key areas and made new progress in key areas, opening up further enhancement of social development was accelerated, continuous improvement of people's lives, to achieve a ten .First Five-Year Period good start. .</ P> <P> meeting noted that the current good situation, we must see some of China's economic operation despite the remission prominent contradictions, but the fundamentals are still very strong, irrational economic structure and growth pattern .institutional mechanisms are inadequate, and other deep-seated contradictions have not been fundamentally resolved, we must keep a clear mind and sense of urgency, a full estimate of the problems and difficulties faced by, prepared to deal with the challenges and risks of the preparation. .</ P> <P> meeting stressed that China's 2007 development and reform is a critical year. .To do economic work next year, should take Deng Xiaoping Theory and the Important Thought of Three Represents as the guide and conscientiously implement the Party's Sixteenth National Congress and the Third, Fourth, Fifth, Sixth plenary session, to fully implement the scientific concept of development, .building a socialist harmonious society and other major strategic thoughts, continue to strengthen and improve macro-control, focus on promoting reform and opening up and independent innovation, focus on adjusting the economic structure and transformation of economic growth, efforts to enhance resource conservation and environmental protection, efforts to promote social development and address the people's livelihood .problems, and promote effective economic and social development onto the track of scientific development, to achieve sound and fast development, the party's congress held to create a good environment. .</ P> <P> meeting called for next year's economic work to do, to grasp the overall situation, overall arrangement, focus, and firmly implement the central authorities fully implement the deployment. .Be sure to maintain stable and rapid economic growth and avoid big ups and downs; be sure to adjust the economic structure and changing the mode of economic growth, more effective, efforts to improve the quality and efficiency of economic growth; make sure to resolve the issue of the vital interests of the new measures .promote the harmonious socialist society made positive progress. .</ P> <P> meeting that is restricting our population has always been comprehensive, coordinated and sustainable development of the major issues affecting the economic and social development of the key factors. .Since the implementation of family planning, population and family planning in China has made great achievements, and effectively promoted economic development and social progress. .Co-ordinating the overall development of people to solve the population problem, population pressure to change human resources for sustainable economic and social development momentum is to achieve the great rejuvenation of Chinese nation's strategic choice. .Be sure the whole party from building a moderately prosperous society and the height of building a socialist harmonious society, from the high degree of responsibility of the future development of the Chinese nation, consistently good job in population and family planning work. .</ P> <P> The meeting decided that the Central Economic Work Conference held recently. .(Xinhua) </ P> <P> people outside the forum, Hu Jintao emphasized </ P> <P> to continue to strengthen and improve macro-control </ P> <P> outside the CPC Central Committee held recently in Zhongnanhai .persons forum on the central economic work to listen to all democratic parties, personages without party affiliation China Federation of Industry leaders and the views and suggestions. .CPC General Secretary Hu Jintao presided over the meeting and delivered an important speech. .</ P> <P> Hu Jintao pointed out the importance of doing economic work next year. .To continue to strengthen and improve macroeconomic regulation to maintain the continuity and stability of macroeconomic policies, strengthening fiscal policy, monetary policy and industrial policy, land policy, social policy coordination, and make economic development to improve the quality and focus .efficiency up. .To adjust the relationship between investment and consumption, focusing on expanding farmers and urban residents, particularly low-income people in the consumer and accelerate the development of rural social undertakings and public services, further boosting domestic demand stimulating effect on economic growth, while foreign trade and foreign investment to accelerate from .quantity expansion to quality and economic returns, and promote foreign trade gradually becomes more balanced. .To truly grasp the new rural construction, development and farmers to increase production as the focus, consolidate and improve the policy support and benefit agriculture and stable development of grain production, and deepen the comprehensive rural reform, strengthening rural infrastructure, and gradually improve the living conditions of rural production .. .To effectively promote economic structural adjustment and economic growth mode transformation, the ability of independent innovation as the adjustment of economic structure, changing the central link of economic growth, the conservation of resources, environmental protection and conservation of land in a more prominent strategic position, strengthen the energy reduction .consumption and pollution emission reduction targets of the constraints, and promote economic restructuring and transformation of the mode of economic growth, promote quality and efficiency improved. .To continue to improve the socialist market economic system, and improve macro-control system, administrative system and economic legal system and deepen the state-owned enterprises, taxation, investment system and other aspects of reform, and gradually form conducive to the transformation of economic growth, promote scientific development of institutional mechanisms .. .Should be people-oriented, harmonious society in accordance with the general requirements, serious effort to solve the people most concerned about, the most direct and most practical interests, promote social fairness and justice, promote social stability and harmony. .</ P> <P> Wen Jiabao said in his briefing of work, this year the national economy continue to move in the expected direction of macro regulation and control to achieve the Eleventh Five-a good start. .But it must be noted the current difficulties and problems of economic development, keep a clear mind. .Next to the development of comprehensive analysis of favorable and unfavorable factors, stabilize, improve and implement macroeconomic policies, efforts to promote reform and opening up and independent innovation, focus on adjusting the economic structure and growth mode transformation, efforts to strengthen the conservation and environmental protection, efforts to promote social development and .livelihood issues, to maintain stable and rapid economic growth, to prevent major fluctuations. .(Xinhua News Agency).

7 subsidiary of Sinopec is about to change or sell shares of Shell.

<P> Day, 7 Sinopec's subsidiary companies also announced suspension. .It is understood that this is the second this month another three subsidiaries of Sinopec - S on the petrochemical, S and S meter of drilling at the same time into the river again after the share reform program of collective action. .Before this, the China Petrochemical executives have boasted, in the future integration of its sub-listed company will introduce new ideas, in addition to privatization, the shell does not rule out selling the asset exchange, etc.. .This time, shares in the above three subsidiaries were not changed, there was also suspended for 7 shijiazi listed companies, market speculation that China might take to sell Shell petrochemical operations. .</ P> <P> holding between the different It is understood that the suspension while the 7 listed companies are S Dan Lianhua, S-Thai Oil, S Wu oil, S Lu Yun, S Yue Hing Cheung, S of Beijing .II and S River Beautiful. .Among them, Dan Lianhua, S Wu S Thai oil and petrochemical oil directly controlled by China, S Lu Yun indirectly controlled by Sinopec. .In addition, S Yue Xing-long length of the largest shareholder of Hunan Lian Hing Cheung equity interest is held 27.95%, S Chuan Mei Fung is the largest shareholder of China, Chengdu Sichuan Oil and Gas Exploration and Development Corporation holds 18.33% equity interest, two .caught is the wholly owned subsidiary of Sinopec Group. .S of two in Beijing, Sinopec Yanshan Petrochemical Group, a wholly owned subsidiary after the acquisition of indirect control of Eastern Petrochemical 58.1% of the shares. .</ P> <P> cash may be excluded from Guoxin Securities analyst Chen Aihua that the petrochemical industry, seven subsidiaries also suspended, suggesting integrate Sinopec Department has started the last big move. .Although the seven company-specific integrated approach is still uncertain, but you can rule out the possibility of cash. .For S, petrochemical, S and S Jiang drilling apparatus of these suspensions did not enter the list, Chen Aihua analysis may change with them from the last unit of less than 1-month limit on. ."This is a collective suspension 7 companies only two possibilities: First, the share reform; the second is to sell shell." Zhang Hong in mind that the senior market. .Reporters from the side confirmed the speculation. .One from the investment banking department of CITIC Securities, the person in charge, said in an interview that the company is now the 7 companies sponsor some of the company, it is not convenient to disclose the information. ."In general, the listed companies need to recruit sponsors, there are two possibilities, one is the share reform, and the other is the company involved in major restructuring, including of course to sell shell." Zhang Hong Kee analysis. .</ P> <P> 10 companies have left, "disposable" "The suspension of the 7 companies should share the final fate of the reform or restructuring, and re-sell a large sense, refers to the shell. While Sinopec is not suspended .three petrochemical companies on the S, S and S Jiang Yihua, or will continue to share reform drilling. I think the restructuring of Sinopec's shares no major impact, but this includes almost all of its subsidiaries of Sinopec, China .Sinopec aims to prepare a one-time integration has been very clear. "oil industry analyst with Guotai Junan Hou Jixiong, said in an interview. ."Our idea is that, in seven subsidiaries, the main business of the company will continue to retain and secondary industry, the company may be stripped. So that the integration for Sinopec, it is conducive to the concentration of the main industry, secondary industry .stripping, long-term development of the company's more significant meaning. "Chen Aihua analysis. .Data showed yesterday, the company also suspended the seven-float market capitalization totaling 7.599 billion yuan. .</ P>.

Bank of a record 1.45 trillion of funds under the net purchase records.

According to http:// <P> newsletter yesterday from informed sources, Bank (601328.SH, 3328.HK, the "cross-line") A shares were issued under the IPO online and the freezing of funds 1.45 trillion yuan ( .RMB), refresh CITIC Bank (601166.SH) has just hit 1.4 trillion yuan frozen funds purchase record. .Bank of the issue price of 7.9 yuan maximum price range is almost certain. .It is worth mentioning that, in the Bank of purchase, the institutional investors was extremely enthusiastic, net purchase of about 3,000 billion yuan of funds, the highest A share offering under the net capital purchase records. .CSC Min Hua She analyst in an interview yesterday, said Bank of issued capital of the sought after to some extent also the recognition of its pricing to 7.9 yuan ceilings, corresponding to earnings ratio (PE) only 29 times, .The issue price is reasonable. .After the listing is expected to pay a higher premium on the line, investors will have a lot of money the profit margin. .Min Hua She predicted that the Bank of the price range listed on the first day should be able to 10 yuan to 11 yuan. .Bank of underwriters, according to a report given, cross line outlets, employee skills, information platform and cooperation with HSBC has advantages, and its revenue growth by improving the efficiency of network and personnel to achieve, which means low-cost expansion .the profit growth was higher than revenue growth. .Provision charge pressure and the decline in income tax rates, but also makes the cross the line and further substantially higher than the net profit before provisions growth in profits. .The report also said the Bank of A shares after the release of up to 10% of the core capital adequacy ratio, the acquisition will make it a strong ability and motivation. .If the acquisition of other financial institutions, Bank of profit growth will exceed expectations. .Exchange Bank president Li Jun said in Shanghai on Tuesday, to pay Bank will explore aspects of comprehensive management, in accordance with the overall strategy of the gradual establishment or acquisition by way of non-bank financial sector to get involved. .Under the relevant arrangement, Bank funds purchase online issue of the freezing time than conventional freezing Shanghai online issue of new shares of a trading day shortened; today will determine the issue price and amount of the final release online and offline and online and online purchase with purchase verification number; .Online success rate announcement tomorrow, the online lottery issue 摇号; Monday announced purchase of online resources in the ballot results Yaohao, online subscription funds will also be immediately thaw. .Bank of H shares yesterday closed at 8.39 Hong Kong dollars, was up 0.48% compared with Tuesday. .</ P>.

A slump led by shares of infinite global adjustment has not ended.

<P>: Http:// News, Shanghai and Shenzhen exchanges has recently been adjusted down the broader market is still not stop the pace of turnover in the two cities also fell further to below 120 billion yuan. .The Shanghai Composite Index opened low yesterday, showing a trend of declining side, Zhong Pan to the lowest point near the close at the day to close at 3615.87 points, fell 200.29 points, or 5.25%. .The Shenzhen Component Index also fell throughout the day homeopathy, to close at 11,783.58 points, fell 725.56 points, or 5.8%. .Shanghai Stock Exchange yesterday, closing only 75.648 billion yuan, while Shenzhen reached 42.753 billion yuan, the total amount of 118.401 billion yuan only. .Shanghai and Shenzhen stocks rose yesterday, less than one hundred, "Pareto phenomenon" is extremely prominent, while the lower limit of the stock can reach 300 or so. .Shanghai and Shenzhen stock market's plunge, stocks have led the sell into, but the price limits of 5% of the ST segment is relatively small decline yesterday. .Blue chips fell yesterday appeared in a holistic, Chalco (601600.SH), Datang Power (601991.SH) closed limit. .The last round of adjustments in the performance of the most resilient of the China Petrochemical (600028.SH) yesterday, it reached 7.22% decline. .The total market value of Shanghai and Shenzhen stocks in the top twenty, or more than 5% to the 9. .Bank of China (601988.SH) and Industrial and Commercial Bank (601398.SH) yesterday were also adjusted 3.18% and 3.11%. .Market trend for the afternoon were divided. .Some industry sources, a continuous adjustment of the market, a lot of scrubbing bubble, the market outlook is conducive to stable prices. .Continuous decline in turnover is currently the one hand, market sentiment proved inadequate, but continuous decline in turnover on the other hand also shows that the deeper the market will not decline. .Reproduction of the current short-term market bottom, investors can keep the attention. .In addition, insiders said the market was again on the part of the stock yesterday, "victimizes", as the market fell sharply for two consecutive trading days, and return to the 3600 position, having a technical rebound in demand there. .However, some market participants is that the shrinkage crash that sentiment seriously inadequate. .From the date of the decline in the number of new accounts can also be seen that trend. .Intraday index fell sharply yesterday, panic and sell into the situation is very clear. .Historical Analysis, "astronomical amount of days" after the closing down, often accompanied by a longer period of adjustment into the market trend, and turnover continued to decline, the downward adjustment of the space will be further increased. .</ P> <P> simulation trading of stock index futures close limit down across the board </ P> <P> beneath the Shanghai and Shenzhen 300 Index yesterday 3600 </ P> <P> following Wednesday after the fall of 3800 points yesterday, the Shanghai and Shenzhen 300 Index .beneath 3600. .Affected by this simulation trading stock index futures market yesterday continued diving, four contracts close to limit down across the board, and the trading volume hit a new high recently. .The Shanghai Composite Index yesterday Crack 3800 points and 3700 points mark two integers, and the support test 3600 points, the final report from the "5.30" drop since the closing low. .Meanwhile, the Shenzhen Component Index, refers to small plates, the CSI 300 and SSE 50 is also below the 60 day moving average line of support, the market panic. .CSI 300 index fell 5.51% to close at 3537 points. .</ P> <P>.

ST yaxing makes big Commission established emergency response team

<P>: Http:// News, China Securities Regulatory Commission on the ST Yaxing shares traded in the stock donation to change the situation appears a high degree of attention, has asked the SSE, the clearing house was established to deploy special forces to "ST Yaxing issue emergency team deal with the aftermath ."Investors do reception and communication work, listened carefully to the views and complaints of investors, to take effective measures to effectively protect the legitimate rights and interests of investors. .</ P> <P> According to the China Securities Journal reported, ST Yaxing resume July 5, for use as stock price change on the same day directed donation of 3,000 million shares for some reason failed transactions. .Happens, the SFC which requires the SSE, the clearing house reporting the incident, and timely disclosure to the market for instructions. .</ P> <P> Commission, said trading systems and settlement systems is very important for safe operation, which involves the immediate interests of the investors. .To effectively protect the legitimate rights and interests of investors and maintain the safe operation of the market, the SFC has instructed the exchanges and clearing houses in order as a warning, seriously carry out internal checks, effectively summed up the causes, and improve business processes and emergency response mechanisms to prevent similar incidents from happening. .</ P>.

July surge 460 billion market value of institutional ownership.

<P>: Http:// News, China Securities Depository and Clearing Corporation latest statistics show that in July, to fund, QFII, insurance companies, social security, represented by institutional investors, managed accounts in the bank stock values increase, A .460.696 billion yuan, the highest increment of a new monthly record. .</ P> <P> at the end of July, to fund, QFII, insurance companies, social security, represented by institutional investors, managed accounts in the bank's A stock market value of 2.871993 trillion yuan, compared with the end of June of 2.411297 trillion yuan substantially .increased. .However, given the July the Shanghai and Shenzhen 300 (5412.037,48.79,0.91%) index rose 18.5% to this factor, the number of shares held by institutional whole month just to maintain stable and slightly increasing pattern. .Therefore, institutions holding significant increase in market value, mainly due to the month the stock market surged. .</ P> <P> statistics show that institutional investors to trim rallies in 4,5 month later, by June the occasion of significant market turbulence structure adjustment positions, a substantial Masukura. .Sharp rise in the stock market in July, the agency failed to leave the sign of profit to cash. .</ P> <P> at 7 at the end, QFII custodian accounts at the bank's total market capitalization of A shares increased to 51.611 billion yuan, 42.519 billion yuan over the end of June the increase of 9.092 billion yuan. .Even taking in July the Shanghai and Shenzhen 300 Index rose 18.5% to this factor, QFII positions are still maintained a steady increase in trend. .At the end of May, this value is only 14.608 billion yuan. .In the 4 at the end, QFII custodian in the market value of total institutional ownership in the top 50 are gone. .However, QFII lighten up early in the second quarter, the June quickly "flip over." .</ P> <P> addition, as at 7 at the end, QFII custodian bank accounts of the closed-end fund market value of 6.887 billion yuan. .And 6 at the end of 5.961 billion yuan compared with July's base closure holds the market value of QFII increased 926 million yuan. .</ P>.

Reduction of the Commission on the illegal market outlook positive attitude decisive shot.

The size of non-compliance from the Shanghai stock market holdings exposed, but a week after the first case, the Commission on May 7 in Sichuan Hongda Co., Ltd. formal of the two shareholders of record for audit and will make further investigations after the end of punitive measures .. .Market analysts believe that the Commission's decisive shot, will be the future size of the holdings of non-compliance acts play deterrent. .<P> (Http://) relevant departments of China Securities Regulatory Commission revealed that the shareholders of Sichuan Hongda Co., Ltd. Sichuan Plain Industrial Development Co., Ltd. and Mianyang City Park real estate development, numbers limited liability company, suspected violation of laws, has been placed on file .audit, inspection Corps is investigating the China Securities Regulatory Commission. .CSRC official said, the shareholders of the market spate of illegal behavior reduction, the Commission will make further punitive measures. .Certainly not limited to condemnation of the exchange can not condone such acts of indiscriminate selling. .</ P> <P> public information under the terms of the SSE, SSE April 29 in the daily monitoring, we found two shares held by Honda to lift restrictions on sale of stock shares of the Company accounts on the same day by .holdings of auction trading system were 751.36 million and 696.23 million shares, reducing the total number of equity shares in the proportion of total Honda respectively 1.46% and 1.35%, in violation of the China Securities Regulatory Commission issued the "sale of stock of listed company shares to lift restrictions .Transfer guidance "of the relevant regulations. .To this end, the SSE then the above two holdings of the size of the illegal acts of non-shareholders of a public reprimand, and restrictive trade accounts to its shareholders punishment. .</ P> <P> HTC shares as the second largest shareholder of the Plains Industries and the sixth largest shareholder of the original garden, numbers, in fact, belong to the group of companies in Sichuan Han Long. .In fact, the two shareholders of the holdings of non-compliance with HTC shares intricate relationships exist between. .Informed sources, the actual control of the Han Lung Group are Ambrose, currently serves as Honda shares the post of vice chairman. .</ P> <P style=MARGIN: 0px> there is a market analysis, individual shareholders dare to commit crimes against the wind, the key reason is that management is no corresponding penalties. .With the Commission to initiate an investigation on the matter, Cinda Securities, said Liu Jingde, vice president of research and development, regulators of the decisive shot, on the one hand will play a demonstration of a deterrent effect, so that part of the policy intends to continue drilling holes emergency shareholders ."brake" on the other hand is to strengthen the regulation of a signal. .In his view, the regulators issued after the relevant regulatory measures less than 10 days to two cases have exposed the case of violations, but also to some extent, that they ignore the power of supervision, while the holdings of the first violation .investigation of the current fragile market, will also play a positive role. .</ P> <P style=MARGIN: 0px> </ P> <P style=MARGIN: 0px> British Institute of Lida Xiao Tai Securities, said, "Some of the listed companies and the 'size of the non' shareholders for the understanding of new regulations or .not kept pace with, or at the operational level of enforcement is not enough. "" size of the non-"reduction is a long time in the future of one of the major market trends, the management of" the size of non-"Reduction of non-compliance .acts to increase penalties on the market is a big positive. .</ P>.

By: bupobuli, break, not large, the decline in space

Yesterday, in A unit, holding hair wars just over 2 months, it's only the "Big Mac" has finally come tumbling down, in the early day 10: 07 fell below the issue price of $ 2.68. At the same time, the bank stocks also full go soft, Bank of China, China Construction Bank, and Bank stock price-only set a new low.

However, analysts pointed out that, despite the short-term market, break on popular confidence against great, but its continued to fall, for limited space

CITIC Securities 11.24 + 0.030.27% BoE A2.99-0.02-0.66% Bank 3.97-0.06-1.49% construction Bank 4.52-0.09-1.95% Bank of China 3.23-0.07-2.12% investors on this do not panic.

Through two month, ABC finally fell below the issue price

Until yesterday, the agricultural Bank of China A-share market was just over 2 months. Despite early trading market turbulence downlink, but still stick to the issue price of agriculture. 10: 00 am just too, continued to sell spare, authority, 2.68 element, 437 2.69 Yuan, $ 2.70 accumulate several price imposed on selling at more than 600 million, but $ 2.68 supporting single near "," at 10: 06 was filed out of the big sell orders, $ 2.68 rapid breakdown the issue price. After the break, short, 5 minutes, the turnover reached 3.39 billion. Subsequently, the stage, a minimum of $ 2.61. As of closing, the Bank reported $ 2.63, 1.87%, lower than the issue price dropped $ 0.05; at the same time, trading volume significantly enlarge the whole-day exchange rate 5.27%.

Recent banking unit constantly broke bad rumors, deposit rates, improve capital adequacy, the news broke that bank stocks overwhelmed. Bank of slab fell yesterday as a whole, of which over 2% of the Bank of China, industrial and commercial bank of China were below the low of 2319 Department, construction Bank is a pile of new low.

A from the Shanghai and Shenzhen stock ranking, a minimum of two city, price, share price and the adjacent BoE, st Meiyan 10 percent of the space in between. Bank of China, the last closing stock price of $ 3.23 ranked fourth to last two cities.

Concern about the regulatory, institutional funds give up Guard plate

The past month, ABC almost "weaving market", the share price at the issue price of $ 2.68 two cents above the range of fluctuation, the stock has never been exceeded $ 2.7. Although the market has been in the doldrums, green shoes mechanism also has faded, however, a fall to the issue price of $ 2.68, there is a large pay entry holds the share price.

However, yesterday a "four securities dealers guard plate" news completely broke this calm, cause the tray capital fled, causing ABC break. According to media reports, CICC, CITIC Securities, guotai Junan, Galaxy securities sidazhu dealers still on the Western side of the disc tray, and guarding behavior can enjoy special treatment — waiver of fees. Guangfa securities research fellow at the MU Hua analysis finds that "four daquanshang worries may incur monitoring checks the message and capital fled. Capital outflows, causing ABC break ". In addition, some commentators pointed out that the institutions use capital advantage, channel advantage forced agricultural price lock, suspected of manipulating stock prices.

In fact, this week, the guard up since the funds continued to decline, Todd Sharp single relatively early have decreased by almost 50%.

Juli evoked Weifang guarantee ring crisis Government hand starts pulling the redemption

Government organizations, to mobilize various luxurious team force hand deliver discontinued when ST Juli, because only in this way, Juli disaster will not affect other apples in the basket.

28 June, Weifang road, Mayor of pine, corporate office, ST Juli (000880) silence. The old Chinese agricultural vehicle industry leader has been completely cut off, a rundown of factory. Almost no outsiders know that the company at the general meeting of shareholders 2004 is held on the second floor conference room. In more than 1300 companies in China, maybe this is the one of spots of the general meeting of shareholders, no flowers, no banners, several shareholders on behalf of the boring to sit together.

Before them, placing the company General Manager Li Xuejun resignation applications, as well as Chief Financial Officer's resignation. Li Jun, 5 days ago by written resignation to the report, the Board of Directors determines the beginning of the year to improve the company's financial situation was not achieved, the business layer to maintain the stability of the company to ensure the successful reorganization of the company. Now that you have tried, the situation for the company I Li, and bodily causes an application to quit.

A month ago on 28th may, Chairman Liu gang had resigned his post is another sinbond Vice President of Beijing. Thus, not only cut off ST Juli, decision-making and management team have been fragmented.

Cut off half a year, ST Juli shareholders finally less bloody taste. Up to two years of fight, the first shareholder of Beijing sinbond (Beijing sinbond company) seems to be throwing weapon, CMS Volt in silence. And, in this rare moment silence around ST Juli security risk erupted, the circle will be another two of Weifang city local companies into one.

The cold of the general meeting of shareholders

On ST Juli exhaustion of the situation at the moment, many people on the Weifang securities market weekly said the company formerly would have their own problems, but after the introduction of external investors, new and old shareholders because the interests tend to have different, so that issues are die-hard entanglement, ultimate fish nets. How to promote enterprise reform, the Government needs to rethink.

They are referring to external investors entering refers to Beijing at the end of November 2002 sinbond with concerted action people have the assignee the ST Juli original shareholder Juli machinery factory by listed companies 28.97% stake, become giant great shareholder ST. After the try to grasp sinbond ST Juli's control, but was Juli machinery factory and the third largest shareholder Weicheng of Sams vehemently resist. Because Beijing sinbond acquisitions, dark with concerted action at the acquisition of listed companies, this approach and its acquisition of Shida Group (600734) is very similar.

Beijing sinbond acquisitions Shida, the latter funds into their own system. Other shareholders are very disturbed, worried about the real group of tragedy in yourself again, and so began the expulsion of Beijing sinbond, major strikes between shareholders. In this procedure, under the guidance of the Beijing sinbond, ST Juli comprehensive inventory balance, the final found financial issues, as they saw for the first time since the listing.

Shareholders of strife and fundamentals rapidly deteriorating immediately aroused the attention of the securities regulatory authorities, in January 2004, the China Securities Regulatory Commission, Jinan Zhengjianju on companies ' survey. In June 2004, the supervisory authority will be the case transferred to the judicial authorities, the relevant personnel involved in succession detainees, Chairman and former Financial Director were sentenced.

In the meantime, banks are not lending to ST Juli, some suppliers have also stopped supplying, accelerates the worsening financial situation of the company, in February 2005, the company issued discontinuation announcement. Maybe cut off is in shock, flames of natural forces. Shareholder of Beijing sinbond abandoned ST Juli Chairman of bits, but also in the general meeting, the representatives of BCG Stephen Lee also features a low profile. Beijing seems to have thrown weapon, sinbond perches Volt in silence.

But shareholders meeting participants do not have to give up condemned Beijing sinbond: this is a special meeting to be held in the period … on 28 may, the resignation of the Chairman of the Board is not responsible for the company ...

Security circle collapses

And in the Conference room window, another crisis is already showing signs of rapid spread and — because and ST Juli secured relationships, Shandong Dragon (000677), Qingdao huaguang (600076) into trouble, regional security risk.

We understand that ST Juli earlier respectively and Qingdao huaguang, Shandong Dragon signed mutual insurance 1 billion and $ 8000. To 27 April 2005, the company's independent directors disclosure guaranty, the company guarantees for a total of Nirvana huaguang three pen, 295 million, respectively, the Bank ICBC 900 million RMB 20 million Yuan, China Construction Bank, ICBC for Shandong dragon from 1647 RMB loan guarantee.

ST Juli's recent announcement said, because the company discontinued and liquidity shortage, gravis, 18 April 2005, the relevant branch of China Construction Bank, require the company to a lawsuit settlement of arrears 3200 Yuan and corresponding interest. In addition, the Court ruled, ST Juli to Qingdao huaguang borrowings 2000 million bear joint liability.

At present, Qingdao huaguang for ST Juli guarantees amounting to $ 9700, Shandong dragon to guarantee 5560 million, most of the overdue.

Mutual assurance is an extremely delicate chain, once this chain of a certain aspect of a problem can occur because dominoes-style collapse again. In the Chinese stock market, mutual insurance act cross has destroyed many listed companies. In June last year, Chinese and Western medicine and ST zhongke building a relationship of "fidelity", "departments", after the collapse of Chinese and Western medicine, because security has assumed obligations to 6720 million principal and interest, penalty 288.7 million, the company's financial situation is in trouble.

ST Juli 2003 loss 9713 million, 2004 loss 2.3 billion loss in the first quarter of 2005, and 1968 million, now the company is still

In the end. If the loss in 2005, ST Juli is a certainty to delisting, so it's a very high risk of debt servicing, Qingdao huaguang and Shandong Dragon will inevitably be affected.

In Shandong Dragon, a member of the Securities Department of ST Juli expressed great concern: now it is a serious deficit in the end, don't see it repayment of hope. 5560 million amount on companies, nor is it a small amount, after all, the company's 2004 net profit is 1 million.

At present the fundamentals of Nirvana huaguang also is not optimistic. In the year net profit-4793.95 million, the company expects the performance loss in the first half of 2005. Qingdao huaguang who on the securities market weekly "said:" the Blue Bird, "five companies are facing financial difficulties, now, ST Juli also happen, really do not know how to solve the problem ...

Government starts pulling the redemption

In the regional guarantee risk black clouds capping, ST Juli seemingly without health path, the "Government in the rescue of Juli" message from boring atmosphere jumped over to ST Juli investors and mutual insurance in anxious waiting still to heart.

Weifang State Board members through out the wind to: Weifang City Mayor Zhang xinqi that must be completed within the time limit ST Juli reorganization, and identified new team leader for the restructuring, the two Deputy Mayor, Deputy Head of the listing regulation of second shandongzhengjianju Commissioner, Mrs forces responsible restructuring matters directly to the specific.

Perhaps the side confirmed, recently, Shandong Dragon notice: on ST Juli warranty period extended for one year. The company is one of the sources, to enable it to repay $ 3200, China Construction Bank debt of a branch has instituted proceedings for Juli, in coordination with local government, the Bank has agreed to give loans for Juli, will run for one year.

"We are doing the work of the Bank, as the Bank has agreed to the extension, is to reduce our risk, we also agreed to extend the guarantee period, the parties are hard, Juli might be better. "He said.

It is understood that in June, 28, of shareholders general meeting, the representative of the State Council in Weifang, said company President resigns, the company to quickly select a new Chairman and led the company get out of trouble. Although still in the dark, the shareholders have seen through the window of a light.

In Juli factory, an ordinary employee told the securities markets weekly: Juli and maybe won't die, heard of Weifang diesel engine factory to restructuring. It is understood that in Hong Kong-listed Weichai Power (2338.HK) prepared on ST Juli for substantial asset restructuring, restructuring agreement has been initialled, but only until the Beijing signed a formal contract sinbond last.

It is said, Weichai Power, there are two sets of restructuring programme: first acquisitions 28.97 sinbond hold ST Juli equity, direct to become the largest shareholder; the second is the acquisition of Juli machinery factory holds 16.35% ST Juli equity, as well as the third largest shareholder, holding of State assets Weicheng 6.81% ST Juli's equity, then in the secondary market purchases exceeding 5.81% of ST Juli circulation unit, ST Juli's control.

In fact, sinbond dilemma. If ST Juli delisting, nearly 2 million equity investment is likely to acreage; but at this point to exit, ST Juli per share for the net assets of only $ 0.92, impairment losses.

In addition, according to the securities market weekly, Beijing sinbond already appears capital chain crisis, in the hands of the 65 million shares were Huaxia Bank and Shanghai Pudong Development Bank freeze, if the stockholder cannot smoothly lifted, then ST Juli reorganization only empty talk.

QDII funds from Hong Kong, overseas investors optimistic about the A shares started to change.

<P> Mainland insurance funds has been approved overseas investment, QDII (qualified domestic investors) when the "ice-breaking", but also in focus. .Hong Kong Investment Funds Association, told reporters yesterday, the Association has been made by regulatory bodies, QDII funds can invest abroad has been to achieve a breakthrough. .Association also pointed out that most of the A share market, foreign investors hold a positive evaluation of the share reform. .</ P> <P> Chairman of the Hong Kong Investment Funds Association Xuejia Yi told reporters, as the fund industry's representative body, the Society has dedicated the Mainland Affairs Council. .Hope that through this committee, to the mainland market to promote sales of fund products in Hong Kong. .</ P> <P> executive director of the Hong Kong Investment Funds Association, Sally Wong said the Association has been dedicated to the promotion of QDII system. .Sally Wong said the Society has made to the regulators recommended that the first institutional investors to the mainland, with foreign investment funds in Hong Kong have been issued to the pilot QDII way to achieve a breakthrough. .</ P> <P> Xuejia Yi told reporters, at the end of the year, licensed in Hong Kong's combined fund management business registered total assets reached 3.618 trillion Hong Kong dollars, an increase of 23% over the previous year. .Among them, the funds from overseas accounted for 63%, amounting to 2.269 trillion HK dollars. .</ P> <P> Sally Wong said the QFII Association has many members. .According to its understanding of A-share market for foreign investors in the share reform, most of them hold a positive evaluation. .Moreover, with the implementation of the share reform, QFII A-share market for the interest in the mainland is more strong, have varying degrees of increased investment. .</ P> <P> "At the same time, QFII A-share market to enter, but also to a certain extent, promote the governance of listed companies in the Mainland and management." Sally Wong said, "China's stock market reform can be said to strengthen the mainland market opening .and an important event in corporate governance. "</ P> <P> Currently, foreign and Mainland fund management companies have set up a number of joint venture fund company. .Xue Jiayi said the joint venture is expected to fund product development and product segment research, fund products more competitive than the mainland. .</ P>.

The great stock market investment strategy stock baked 2007A Analysis.

<P Align=center> </ P> <P align=center> Table 2: before and after the Olympics host country stock market's performance </ P> <P align=center> </ P> <P align=center> Table 3: days .with the focus of the company relative to industry rating </ P> <P align=left> the golden age of the stock market economy the Mood for Love - 2007 A-share market in China Investment Strategies </ P> <P align=left> ■ from history, .a typical bull market needs through the transfer of wealth, fanaticism, price increases slowed down Withdrawing funds four full stages. .The current stock market situation in our country, we judge, A-share market is running on the early transfer of wealth, still in the stage of irrational exuberance, we call the stock market in the Mood for Love. .■ from the perspective of rational expectations, we determine the upside next year, the Shanghai and Shenzhen 300 will reach 30%, then the index will reach around 2300, the corresponding point on the Shanghai index will reach 2700 points high up and down. .As the market is often irrational, taking into account the factors of new shares, ahead of the Shanghai index reached 3,000 points in 2007, a great possibility. .■ For the stock market before 2008, we have always been concerned about the Beijing Olympic Games has brought us investment opportunities. .States Olympic experience tells us that the Olympics will be accompanied by a strong stock market prices, while giving real estate, tourism, commerce and the development of national brands to bring the best opportunities. .</ P> <P align=left>.

Bank of the latest high-level insider pass comeback instructions.

<P> Stock market plunge late in heavy volume. .The reason, multiple versions of the market spread. .</ P> <P> sum up, there are several recent bearish news. .</ P> <P> message level, the central bank vice governor Wu Xiaoling, 19, said that in the case of double surplus balance of payments, China's excess liquidity risk exists, the central bank will be raised through the alternate use of the deposit reserve ratio and the public offering .central counting method to recover mobility. .</ P> <P> chairman of the National Social Security Fund Xiang 20, said the stock market performance this year was wonderful. .As for next year how much upside there, it is difficult to determine. .Compared to this year, due to the way stock index rose, the risk is also increased. .However, because the Social Security Fund to select multiple markets, varieties of investment, do not put your eggs in one basket, the risk can control. .Analysis pointed out that item, then suggests the need of social security have high shipping. .</ P> <P> see from the financial side, the next Zhouer Guo Shou A shares will be issued, there are agencies who will freeze 600 billion a conservative estimate of funds. .</ P> <P> In addition, the end of the year the Fund faces pressure on dividends, a cash requirements. .</ P> <P> the most recognized reason is that the recent rise in the broader market due to acceleration, profit-getting heavy, high lighten up will gradually increase. .</ P> <P> However, optimistic analysts believe that the stock does not change the upward trend in short-term adjustment. .</ P> <P> touch nerves in funding, the Ping An Securities analysts believe that 2007 will mark the two-way funds face big expansion, large expansion of the market value of the situation. .It was reported that funding next year look into the market of 4,500 million, will exceed the demand for funds. .</ P> <P> today's news that manages 225 billion U.S. dollars of funds, the largest U.S. pension funds - CalPERS next year will be the first to allow its fund investors, including China, several emerging economies, stock .. .</ P> <P> not be overlooked is that there are still hundreds of billions of new funds Jiancang period. .China Merchants Securities believes that the most sensible option at this stage is still cautiously optimistic, to be holding up. .</ P>.

CCTV Reds sent 90% of investors will become cannon fodder swear.

According to http:// hearing, Bullock said: eight million people in New York, there are eight million stories, a Eight Million Ways to die. .Timid of new investors ask: Is it 9000 million people will have 90 million kinds of die? .He was just in front of the camera CCTV Reds Liu Yanbin frightened expression grim. .This looks to be commended for Liu Yanbin almost fiercely swear in the hair: in particular, 2,800 points, 3,000 points or more investors coming in, 90% in the next two to three years will become cannon fodder. .Liu Yanbin legend twice as cannon fodder, he has long been scared off by himself. .In fact, only two new investors to die: one is that even the stock fund account and bank books What is the difference did not know it to glass slide in; the other is the desire to make money after the big bang expansion of self. .In addition, as long as the Chinese economy has maintained rapid growth, investors can maintain a sense of balance security and peace. .Two days ago, the Bank of China funds in counters, two sister learn from a long time, although only for their own fund earned 20%, but lost the most money to run the fund, to discuss the equity funds into the hands of another .Equity Fund. .The most greedy 无知者无畏, the Commission risks warning on Friday not based on hearsay evidence. .Enter 2007, the organization has returned to dominate the market structure dominated by retail investors. .60% of the retail a little negative impact on the proportion bound, excitement, enthusiasm will make insider trading and other irregularities in the re-emergence, as individual investors the courage to give the purchase price by institutional investors than the valuation given by fundamentals is much higher .; and not have the expertise of greed and fear will increase the market to increase turnover and man-made shocks. .No wonder fund managers stand: on the market, it is best to ask retail. .Currently listed in the overall restructuring and merger and acquisition transactions in the black-box theme a lot of insider together. .Recently the Chinese and Hong Kong markets in the U.S. reputation a bit weak, would want the situation even worse A shares. .Chinese Vice President Wang Xuejia Morgan Stanley because of illegal insider trading profits in the United States have been arrested, suspected of Bank of East Asia chairman David Li Dow Jones takeover in illegal profits. .This is quite a lot of inspiration to the A shares: investors in new markets and new impulses and as a young man, regulators need to introduce more severe penalties, this is the most able to touch the offender to die..

State: let the wealth effect lasts for a period of time

An information center: http://, consumption growth is expected to report to peak this year 11-year high

State economic analysis group provides reports that current spending, rapid growth with sustainability, it is expected that in 2007, the growth of social retail 15.8% invasive since 1997, the fastest growth. The report also recommends that the management of the stock market regulation should not be too big.

The report noted that the current consumption shows strong acceleration of growth, is the current round of economic cycles, since the start of the best state of growth in consumption. Preliminary estimates, in the first quarter of this year retail's contribution to the economic growth rate of 39.4%, higher than last year's first quarter increase 11.6 percentage points higher than last year's increase 3.3 percentage points.

Currently, the unit group, such as non-personal consumption accounts for the total consumption is rising; meat, eggs, oil prices will be a strong agricultural and sideline foods promote their consumption growth; in addition, the performance of civil service and public institutions are implementing wage, will promote the growth of urban residents ' income. Report on the initial estimates, this year will achieve social retail 88482.8 billion yuan, an increase of 15.8%. This increases to 1-5 months, accelerating 0.6 percentage points higher than in 2006, an increase of 2.1 percentage points, the highest since 1997 retail nominal growth of maximum speed. Consider inflation factors, the actual growth this year consumption about 12.8%, higher than the same period last year 0.2 percentage points.

The report recommends that the management stock market regulation should not be too big, the focus should shift to severely punish market manipulation, etc., so that capital market wealth effect with a certain degree of continuity to enhance consumer confidence, expanding consumer is useful. In addition, price regulation and economic growth and the expansion of consumption. If this year's annual economic growth of up to 11%, 3-5% of the price increase should be acceptable range.