Direct investment broker first: CITIC Securities 831 million investment in the establishment of payment for.

<P>: Http:// Communications, CITIC Securities (600030.SH) today announced to carry out direct investment in business applications for the pilot has obtained the consent of the CSRC. .</ P> <P> CITIC Securities announced will invest 831 million yuan to establish a wholly owned specialized subsidiary of Golden Time Investments Limited ("the payment for investment"), to carry out the pilot direct investment business. .Payment for business investment is limited to equity investment, direct investment of own funds to carry out business. .</ P> <P> CITIC Securities said it would amend the company in due course, "charter", the direct investment business in the Company's business scope and procedures of administrative licensing in accordance with the CSRC for approval. .</ P> <P> although CITIC Securities has been doing business for carrying out direct investment related to preparation, but not until August 22, CITIC Securities was adopted by the board "on the establishment of a wholly owned subsidiary to carry out direct investment in the business of motion," .China Securities Regulatory Commission has submitted the application to carry out a pilot direct investment in business applications. .</ P> <P> SFC website published in the September 1 summarizes the comprehensive management of securities firms, said, "the company also recently launched the QDII and direct investment in the securities business of the pilot." .September 10, CITIC Securities received by China Securities Regulatory Commission "on the company conducted a pilot direct investment business letter of no objection" to obtain a qualified pilot direct investment business. .</ P> <P> States Securities researcher Yao Xiaojun, said CITIC Securities approved the pilot direct investment business in the expected. .Other brokers will also be expected to actively promote the follow-up. .</ P> <P> for CITIC Securities, Yao Xiaojun that, because of its current development is still highly dependent on the brokers and traditional business-oriented self and other, making profits of CITIC Securities will be greater volatility in the future. .Carry out innovations such as direct investment and its future business is an important way to achieve sustainable development. .</ P> <P> CITIC Securities announced the launch of the direct investment business, the financial industry researcher at Guotai Junan Securities in its research reports Static noted that CITIC Securities is now the reserve of a number of project resources, the M & A projects have had .to put into practice its own funds, so it is expected, by 2008, direct investment and the business will bring significant performance company contributions. .</ P> <P> Static analysis, CITIC Securities issuance, the funds will be invested 60 billion yuan. .CITIC Securities in accordance with their expected 25% annualized rate of return is estimated to bring nearly 15 billion yuan per year return. .And securities companies in underwriting, investment management, with other investors do not have the project selection, project management and capital operation ability, so its direct investment business in the payback period, return on investment than the market average to be higher than the .Therefore, 25% of the annualized rate of return is also expected to become more conservative. .</ P> <P> CITIC Securities rose 2.11% yesterday to close at 83.8 yuan. .A week ago at the "2007 China Oil Circulation Industry Development Forum" on an oil industry veteran, told the reporter to reveal that the NDRC's notice has not in all the provinces have been effectively implemented, particularly .once more a few provinces to the Northwest Development and Reform Commission issued a notice is not hidden. .</ P> <P> "in the next period of time, domestic private enterprises are forced conversions, wholesale or sell a large number of foreign investors may appear. According to industry conservatively estimated that if aid policy is not released, the remaining companies will not maintain more than two .years. "deputy president in the oil business, is booming, Liaoning Panjin Petrochemical Industries Development Corporation chairman Zhang Shunjie the pessimistic estimates on the forum. .</ P>.