Asking the Commission held a forum to focus on GEM.

<P> 4 days, the GEM Listing management approach will be the end of comments. .In this connection, the Commission held a forum yesterday, from academia and industry in the six persons on the launch of the GEM time, listing requirements, approval procedures and so on their own to express their views. .</ P> <P> timing of the introduction </ P> <P> draft does not specify the launch of the GEM time, so all speculation continued. .Participate in the forum Yanjing Overseas Chinese University President Watson said yesterday that the launch of the GEM take a long time, the rules are being developed, there are still a process of approval, but there are still many problems need to be studied. ."I think the first half is unlikely." Watson said, regulators will be more stable when the market launch of the GEM, but not volatile, when released, "so the market do not have much of GEM .Fear. "while attending the symposium, Professor of Renmin University of China, Wu Xiaoqiu also believes that the market should be more stable when the introduction of the GEM. .According to http:// News, China University of Political Science, Professor Liu Jipeng that: "GEM focuses on the opening of this year, not to quickly develop into a certain size." But the first batch of GEM companies should not be less than 50, then in the end is .mass market, or a two listed, this is a need to consider the details. .During the two sessions this year, the Shenzhen Stock Exchange chairman Chen Dongzheng told this reporter that, "May" after the first GEM is expected to issue stock, depending on the fat trial time. .</ P> <P> listing threshold dispute </ P> <P> for the threshold of GEM listed companies, securities firms and academics, representatives of different viewpoints. ."GEM should have a relatively high threshold, which is determined by our national conditions." Watson believes that the current more of a good business, many companies want to market, design a relatively high threshold is necessary, and domestic .Investors are not very mature, to protect investors need to set a relatively high threshold. .Liu Jipeng that GEM standards can not be too high, but never all of a sudden drop too low, to draw on international norms, while also respecting the realities of China's national conditions, market standards should be gradually adjusted from high to low. ."A lot of companies listed on Nasdaq in the listing or a loss, but it proved a good quality growth companies, whether the GEM we exclude such enterprises out?" To participate in research department of CITIC Securities forum .person in charge, said Xu Gang. .In his view, the stock market very often stir caused by scarcity of resources, should lower the threshold, so that more business enterprises to enter the market, brokers should be allowed as a market maker, really played the role of intermediaries. .</ P> <P> made strict examination, or wide? .</ P> <P> the issuance examination committee for the draft Regulations set approach, Xu Gang, that this board continues the issuing system, issue is still the Chief of the Audit, the local enterprise resource possible to push overseas. .Attending the symposium TX Investment Consulting Co., Ltd. Chairman Lin Yi-phase that the issue of the GEM board review process should be more simple than some private companies to tilt. .GEM business use of the funds raised should not need the approval of relevant government departments are not required to do authentication, "needs approval of the project less the better." .Watson, that, given the actual situation in China and did not approve or does not work, still need approval. .But "the key to development of the GEM of emancipating the mind" and can not act like the same board, "Board of reform to make it the first experimental field." .</ P> <P>.

China Life will be reduced further increase in the stock market sell-off in equities than the.

<P> Mr Liu said the long-term bullish equity finance, equity and infrastructure in large enterprises within the equity </ P> <P> earned in the stock market last year, pours the China Life Insurance (601628.SH, 2628.HK, the next .referred to as "the Life"), determined in this year's "green" landscape of the stock market Jiliuyongtui. .At yesterday's annual results briefing, Chief Investment Officer of Life Mr Liu said that this year will adjust the investment strategy to reduce the proportion of stock investment. .</ P> <P> shares by reducing debt </ P> <P> It http:// hearing, Vice President Liu Jiade in life that "shock" is the theme of this year's global financial markets. .Mr Liu said, according to the current market environment, this investment strategy will be adjusted in life, in high inflation, interest rates uplink situation, the increased debt investment, reduce equity exposure, while increasing strategic equity investment and infrastructure investment .. .Life published in the annual report last year, benefited from the A shares rose, according to Chinese accounting standards, to achieve a total investment return last year, 84.58 billion yuan (RMB), an increase of 79.82%. .Investment assets of 850.207 billion yuan, of which the financial assets available for sale 417.513 billion yuan. .Life in the last year in the asset allocation structure, the ratio of investment funds and stocks increase over 2006. .Life stock investments last year amounted to 125.349 billion yuan, accounting for 7.3% in 2006 jumped to 14.7%, the investment ratio approaching the ceiling on investment; fund investment 69.769 billion yuan, accounting for 8.2%, compared with growth of 1.6 percentage points in 2006; .the proportion of bank deposits fell 5.7 percentage points. .Faced with the sly deceitful cloud the stock market, Mr Liu said that to reduce the impact of stock market investment income, in life will reduce equity exposure. ."There are optimistic about our long-term asset class: Equity in the financial sector, infrastructure, large-scale enterprises within the field of equity, and equity. We believe that this year and next year such investment opportunities may be some more, the price will be better." Investment in fixed income .regard, Mr Liu said that this year there will be many opportunities to focus on higher-yielding bonds, corporate bonds and private corporate bonds, and debt investment plans and other varieties. .Life last year amounted to 443.181 billion yuan bonds, accounting for 52.1%, unchanged from 2006. .Mr Liu said that this year will increase the ratio of fixed-income asset classes, bonds and term deposits accounted for more than 70% will be maintained. .</ P> <P> cautious "exit" </ P> <P> under the shadow of the subprime crisis for the overseas market, China Life Chairman Yang Chao repeatedly "cautious" is to emphasize its investment principles. .China Life shares a few days ago to 300 million U.S. dollars VISA, its initial investment in the stock market in the United States. .Yang Chao said that in the closely track changes in global financial markets under the premise of the implementation of "two legs" walk the strategy of combining domestic and foreign markets, the length of combination of combination of financial investment and strategic investment. .According to reports, China Life was established in July last year, the Working Group on overseas investment, "Investment Committee" and "liability matching strategy of the Investment Committee", and frequently sent a work team to carry out investigation and research abroad. .Yang Chao said that in life we must first make domestic investment, although many organizations outside of the valuation is now very low, but risky investments, the key is to choose a good time. .Mr Liu believes that this year more overseas markets. .Yang Chao believes that foreign investment not only to consider the return on investment, but also consider whether the two partners interact, mutual benefit and reciprocity, and sharing of resources. ."The most important thing is customers." Mr Liu said that China Life through asset allocation adjustments, will maintain a relatively stable investment income. .Yesterday, in the Life A shares closed at 28.44 yuan, down 2.1%; H shares closed at 27.4 Hong Kong dollars, down 0.182%. .</ P> <P> further increase in the stock market sell-off in life? .</ P> <P> some market participants believe that Life announced a reduction in the proportion of equity investments, will further enhance the stock market sell-off and decline. .Orient Securities analyst Wang Xiaogang that the financial market reaction was overdone. ."Last year, the case of rising stock market, agencies are increasing the proportion of stock investment. In this year's stock market downturn and the volatility of the stock market, the corresponding reduction in the investment ratio, is a normal adjustment of the investment strategy." Wang Xiaogang that, although still in .rate hike cycle, but may be less frequent than last year, bond interest income will not have much room for growth. .Life for the expected return on investment this year, Wang Xiaogang that no more than 6%. .For the insurance sector this year, investment income growth, Wang Xiaogang that, from infrastructure and private equity investment in the field will be the new Aspect. .</ P>.

Worries red chips: For income tax law the anti-avoidance rules.

<P> The new Enterprise Income Tax Law to implement the relevant provisions of the anti-avoidance rules have been close to "labor", private enterprises listed overseas will face the test of controlled foreign company provisions. .A source said yesterday, the enterprise income tax law on special tax adjustments related to the implementation details, has entered the final stage of comment, is expected to be issued around mid-April. .These people said, from the implementation details of special tax adjustments of the draft of view, is a mixed blessing for businesses, foreign-listed red-chip private businesses are more worried about one of the controlled foreign company (CFC) anti-avoidance provisions. .</ P> <P> red chips in fear </ P> <P> http:// hearing, according to the controlled foreign companies (CFC) refers to the resident enterprise, or by resident enterprises and Chinese residents in the control of the establishment of the actual tax .tax rate lower than 25% negative 50% of countries (regions), for reasonable business needs of non-profits are not distributed or reduce the allocation of foreign enterprises. .Enterprise Income Tax Law in accordance with the provisions, CFC profits belonged to the part of the resident enterprise shall be included in the current income of the resident enterprises. .Informed sources said that the relatively new CFC rules, many overseas-listed enterprises, especially private enterprises more concerned about the red chips. .These enterprises had set up to facilitate the overseas listing of a special purpose company (SPV), in accordance with the provisions of the anti-avoidance rules, these companies are likely to fall into the scope of supervision of the CFC provisions. ."For example, the United States, Huang Guangyu of Gome not hold shares directly, but through holding companies registered in the Cayman shares and other shares in a special purpose company, through a special purpose company held two shares of listed companies in Hong Kong .If the strict implementation of the provisions of CFC, Huang SPV are held by the two fall into this clause within the jurisdiction. "informed sources said. .The source said, according to the current draft, was identified as CFC must also have a few conditions: where the actual tax burden is lower than 50% of the domestic tax burden, a single foreign company holding shares in more than 10%, a reasonable business needs for non- .no distribution of profits or reduce distribution. .He also said that red-chip China Mobile will also be included in terms of the jurisdiction of the CFC. .But the red-chip companies can often avoid the CFC through to the final terms of a jurisdiction. .</ P> <P> association found to lower the threshold </ P> <P> for the identification of association standards, the rules reduce the threshold for comment. .Earlier in the relevant documents, among one of the parties directly or indirectly holds 25% shares or more, and with a third party, directly or indirectly holds more than 25% shares of companies were identified as having the relationship, and this .times this standard reduced to 20%. ."So many companies this ratio will be determined to be 24% more, walking a fine line, the pocket may come all at once." The source said. .Enterprise Income Tax Law in accordance with the provisions of the related party transactions related enterprises, will be included in the investigation and transfer pricing adjustment range. .Transfer pricing, compared with the tax laws and implementing regulations, anti-avoidance rules do not break too much. .Pricing in the reservation, then set the conditions for application: related party transactions over 100 million yuan, the actual operating period of more than 10 years, no major tax evasion problem and fulfill its reporting and preparation of related information stored over the same period. .APA is between tax authorities and taxpayers through the signing of an agreement or arrangement in the form of taxpayers in the next period of time and the pricing of related party transactions and other matters related to the profit level set of criteria agreed in advance to address the complex cross-border related party transactions .transfer pricing issues. .It is understood, the tax on the APA regulators more cautious attitude, "After all, the APA is an arrangement in future, if a business does not know the circumstances hastily signed the APA, it may lead to the state's financial interests .loss of face. " .</ P> Today recommended: * April Fool's Day pranks funny text messages [1-50] * April Fool's Day pranks funny text messages [51-100] * April Fool's Day pranks funny text messages [101-150] * April Fool's Day pranks funny text messages .[151-200] * April Fool's Day pranks funny text messages [201-250] * April Fool's Day pranks funny text messages [251-300] * Top Ten April Fool's Day pranks freshly alternative tactics six movies with you over April Fool's Day .a group of spoofing the magic of your eyes and brain images the past 10 years the classic April Fool's Day fake news.

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To restore market confidence in the key?.

<P> Shanghai and Shenzhen A shares on April 1 suffered another blow to the short side, stocks fell more than 9% to 822, more than the day of trading A shares half of the total. .Good macroeconomic fundamentals, steady growth in performance of listed companies, share-trading reform the context of initial success, A stock market crash that apparently irrational behavior of a continuous, which fully shows the confidence of investors has been extremely lax, and if .Failure to take timely measures, the hard-won results of the share reform is likely to crash destroyed by such non-rational. .</ P> <P> It http:// information, from understanding the information, the market loss of investor confidence is mainly due to concerns on the following three questions: First, concerns about the macro-control; second is worried about the size of .non-reduction, the new capital to keep up with the stock market to increase the speed of chips; third is fear that the interests of shareholders is inconsistent, there will still be the major shareholder actions violated the interests of small shareholders. .It is for these three worry, investors do not see management give clear at the time expected, will produce sell into impulses, which a "not good is bad" continuous sell into the irrational behavior. .</ P> <P> view of this, to restore investor confidence, investors have to eliminate these three concerns. .And to eliminate these concerns, all levels of management must first act in the face of new problems and new situations, new circumstances, timely adjustment of policy guidance to address the issue and actively research questions, and can not take a laissez-faire attitude. .Such as last year, "5.30", many of the policy is to pressure the stock market, substantially increased the stamp duty on the market that is typical of cases has been extremely popular in the current market downturn, a policy like this should be timely adjusted. .</ P> <P> In fact, the departments concerned or very concerned about the current stock market, and for the market of new problems and new situations have done a lot of work. .Large listed companies such as re-financing, although this is only the individual company behavior, but the relevant department or to take timely action, and its strict check, the current practice seems to have been a huge problem refinancing to a standstill. .</ P> <P> to restore investor confidence in the market, the relevant departments to only one aspect of improving the quality of investors to own is also very important. .As a high-quality investors, should have a strong ability to distinguish right from wrong, the rumor on the market can be screened in order to avoid blindness in decision-making. .As a sophisticated investor should believe that the Chinese government on the economy with a strong regulatory capacity, the history of control are conducive to long-term development of China's economy, and are conducive to growth of high-quality performance of listed companies. .In addition to the Chinese capital market regulatory framework and supervision capacity, investors should have confidence in care of the interests of investors to believe that management's determination and ability. .</ P> <P> to restore investor confidence in the market, but also a transparent information transmission mechanism. .The size of the market concerns of non-reduction, for example, the existing information disclosure regime is yet to be improved. .Can not be implemented such as the size of non-reduction of pre-disclosure system, so that should not pre-announced reduction of the size of the reduction of the amount of people is conducive to investment-related value of the company make the right judgments; can not be implemented such as the reduction of the size of non-clear announcement .After reduction of the size for those who Definitely Liangliang Xiang; another example, such a provision can not be implemented, that a certain percentage of reduction of the size of Africa, over a longer period shall not engage in investment in the industry, so the size may be able to avoid .Non of the cash flows. .There are companies for large non-reduction is not Refinancing should also be more strictly regulate it? .</ P> <P> transparent information disclosure system to stabilize investor confidence. .Non-reduction of the current size of the turbulent market rumors, but in fact this figure there is a big discrepancy. .It is understood that, as of the end of February 2008, Shanghai stock market may be reduction of 92.8 billion Chunghwa Express Corp shares (including the starter or the placing of additional shares under the net), but really only sell 28.6 billion shares, which reached a small non-selling 240 .million shares. .This data indicates that large amount of very weak non-reduction, although a small amount of non-reduction of the proportion of high but only 39%. .And to March, with the index's decline, the size of the reduction will not have signs of abating. .If these data can be disclosed in a timely manner, perhaps for the size of the non-market would not be fear of such an extent now. .</ P> <P> to restore investor confidence in the market, but also to strengthen the cultural development of capital markets, securities companies should be organized regularly, executives of listed companies, the basic knowledge, the popularity of the stock market culture. .Many people do executives think they are experts, in fact, often do not pass even the basic knowledge. .Therefore, enhanced investor education at the same time, the market parties, including managers, executives of listed companies are required to culture and education, which will help maintain market Sangong principles. .</ P> <P> split share structure reform aimed at eliminating the effects of China's capital market development, institutional barriers and promote orderly capital markets, efficient and healthy development. .We imagine that a serious lack of investor confidence in capital markets to fulfill the historic mission undertaken by the share reform, so the vast majority of companies to complete share reform on the price of the share reform is more difficult to enter a critical stage, the market parties need .out wisdom, come up with enthusiasm and care of a smooth transition to the Chinese capital market, circulation times, the rise of China in the 21st century to become an important financial platform. .</ P>.

A shrinking share of a quarter of 12 trillion yuan.

Stock market version of "Maiguai" mad king of money making gold shares insider investigation.

<P> Abstract: cheated pattern essentially similar, and some have spent thousands of dollars to buy stock software, stock recommendations in the follow-up after another quilt, fall hard, suffered heavy losses, and later found the company found that some sales do .do not understand the stock, the company has not qualified. .</ P> <P> you ever heard of "golden shares King" it? .Night, turn on the TV, click the site, sometimes this advertising: There is a wonderful called "golden share King" software stocks, stock prices can be recommended, hit rate is extremely high. .Advertising the name of the software high-tech propaganda was very magical, with a case description. .The guidelines of the audience play the ad first consulting the phone, a similar sketch in the "Maiguai," the story played out. .</ P> <P> the past few days, many investors through various channels, one after another reflection of their being "king of gold stocks," the company deceived the painful experience. .Essentially similar pattern was cheated, and some have spent thousands of dollars to buy stock software, stock recommendations in the follow-up after another quilt, fall hard, suffered heavy losses, and later found the company found that some clerk does not understand the stock, the company .no qualifications. .Some cheated the object is in all sorts of laid-off salesman to persuade the company to borrow money after the stock market, but was stuck with losses. .They questioned how such a company like crazy deceptive money-making? .</ P> <P> As of early April, the reporter learned as many as hundreds of people injured investors. .To this end, China Youth Daily reporter immediately began an investigation. .</ P> <P> huge number of "small investors" deceived </ P> <P> "pay to, they did not talk to me a month!" In mid-March, Shenzhen, Guangdong, Zhao on the phone ., told reporters. .</ P> <P> Zhao was involved in a "market" investors are not deep, occasionally seen on television by the "King of Golden Share" and "teacher" to do the show, saying as long as the toll free telephone number before .dial who can get hundreds sent by their "free gold stocks." .Zhao then broadcast a telephone call the next day, Ms. Zhao will have found a salesman. .</ P> <P> "hit me with a sales call, he did not tell me what 'golden share', just asked me some basic information, including what to buy stocks, there did not earn money, how much investment .and so. "Zhao said," I Put simply, he advised me to start with them, follow them to make money. "Zhao said the clerk to call her perseverance," for several days straight, every day several .times, specifically I can remember. Then he advised me to talk about their company. "could not help Ruanmoyingpao, 1 mid-January, Ms. Zhao if some went to the people of South Road, Luohu District, Shenzhen Building, Room B, this company .. .</ P> <P> "I stayed there for more than 3 hours!" A tearful Ms. Zhao said, "First, the clerk chatted with me, and said a lot, see I do not want cooperation, also requested a ' .teacher ', told me that a lot of the stock market situation and told me to follow their information stocks, and it can make a lot of money, and later to a manager, any connection with me that their information how how accurate, how how good the software .... ... I'm dizzy brain up, and just brush them a card on the POS machine - more than twenty thousand yuan ah! "</ P> <P> pay to later, and no experts and Zhao contact, but is she took the initiative .called the "king of gold stocks," the company only received a few stock information. .But not the surge but to wait for her plunge, "loss of more than 20 million!" Zhao several phone communication is invalid, went to the company, demanding an explanation. .But the company overall customer service to the market situation is not good for the reasons explained Ms. Zhao asked for the cancellation and refund request software services, they firmly rejected. .</ P> <P> "are two or three months, and I went several times, and I sometimes meet people in similar situations. But they are different each time saying, attitudes, good times and bad, in short, is .refused to refund. has not said when the sales clerk, from professionals to provide stock information at any time what the telephone. "</ P> <P>.

50ETF warm breath smell money riding roller coaster.

<P> [Abstract] "50ETF days the amount of the transaction, funds have been a motive is the foresight warming smell the breath of the market, hands-on bargain-hunting." A market source said, "Another motivation may be institutional arbitrage." </ .P> <P> Powei the A-share market continued to appear a little "abnormal": follow the index falling China Shanghai 50ETF, 3 月 18 day volume was significantly enlarged, in one fell swoop yesterday, is the largest since a record single-day market turnover .amount. .</ P> <P> "50ETF days the amount of the transaction, funds have been a motive is the foresight warming smell the breath of the market, hands-on bargain-hunting." A market source said, "Another motivation may be institutional arbitrage." < ./ P> <P> It http:// News, China Shanghai 50ETF was established in December 2004, February 23, 2005 officially listed for trading. .SSE 50 Index to track products, to yesterday's close, its constituent stocks included in the China National Petroleum, China Life, ICBC and other 50 largest stocks. .</ P> <P> report information, as of the end of 2007, China Shanghai 50ETF in 52.76% of the share held by institutional investors. .</ P> <P> follow the 50 index, 50ETF listing has been riding the "roller coaster." .</ P> <P> mid-October last year, the SSE 50 Index hit a record high, continued after the bottom with the current round of market adjustment, a group of large capitalization stocks have endangered "break", as of yesterday's close, the SSE 50 .index has continued to decline by 42%, 50ETF follow the index falling. .</ P> <P> but starting March 18, trading volume was significantly enlarged, and yesterday hit a new high turnover. .As of yesterday's close, 50ETF to close at 2.788 yuan, up 0.9% the day, a five exchange-traded fund ETF based only rose varieties. .The gain, while not surprising, but the turnover has reached a historic day of 1.687 billion yuan, 52% of enlarged expires earlier. .This is the biggest product launch since the single-day turnover. .</ P> <P> Galaxy Securities chief fund analyst Hu Lifeng that the amount of such transaction days, on the one hand reflects the market at a relatively bottom, eager to grab a rebound of funds; the other hand, or with huge fluctuations in the market, .arbitrage activity related. .</ P> <P> According to reports, ETF shares convertible product implementation mechanism to achieve the equivalent of a T +0 transaction, and the species do not charge stamp duty, transaction costs low. .In principle, the net market value as long as there is a deviation to the arbitrage possible. .</ P> <P> "Recently index up 4% -5% every turn of the volatility arbitrage trading undoubtedly very active." Hu Lifeng said, "but we can not judge this 1687000000 in the amount of days in which .is arbitrage funds, which are long-term funding arrangement. "</ P> <P> In fact, institutional investors hold more people, ETF products has always been the capital of the cloth rebound soldiers powerhouse. .Between the stock market last November during the fall, 50ETF experienced atrophy and volume continued to decline, once a record of transactions since June last year, the amount of days, while the broader market also in the end of November to early December ushered in a wave of backlash. .</ P>.

Zijin Mining in face value of 0.1 yuan What sort of way.

Face value of only 0.1 per <P> first Zijin Mining stocks will be from 8 until 11 inquiry. .The industry believes that the upcoming release of Zijin Mining for the domestic A share market is significant, the market will usher in a good performance of blue chip companies, creating a history of the first issue of the China Securities 0.10 per share par value of precedent, is of A .share market and a major symbol of international standards. .A nominal value of 0.1 yuan for the issue of shares, the market there are some disputes, the dispute focused mainly on low value in allowing the issue of whether the stock market value of the system and disrupt the price system, would mislead investors to judge. .</ P> <P> (http://) shares par value of shares of stock issued by the company indicated on the face of the face amount, to show that each one contained in the amount of capital stock. .The level of the nominal value per share, the investment value of the company there is no direct relationship. .The investment value of the stock of a company ultimately depends on the ability of the enterprise and corporate earnings growth prospects. .</ P> <P> industry believes that the nominal value of shares issued has two small advantages: capital operation the company has left more space, such as when the stock price goes high when the split can be reduced by the threshold for investors to enter .to increase the liquidity of the stock; Secondly, the implementation of mergers and acquisitions between companies also offer a convenient, the number of shares to meet investor requirements. .</ P> <P> Zijin Mining said that the company issued at par to 0.1 yuan, out of and H shares "with the shares of the same nominal value" considerations. .Currently, Zijin Mining in the Hong Kong Stock Exchange par value of shares traded was 0.1 million. .In addition, if the face value of Zijin Mining in accordance with the 1 per issue in the A-share market, there will be an issue price of the situation may be close to hundred dollars, secondary market trading price will be higher, investors can participate in a relatively limited. .</ P> <P> 2008 年 4 on 3, Hong Kong shares of Zijin Mining closing price of 7.17 Hong Kong dollars. .According to the resolution of the shareholders of the General Assembly, issued in the domestic A share issuance price of no less than the official summary prospectus published in the first 20 trading days average trading price of H shares of 90%, nor less than the official summary prospectus published in a previous transaction .H shares on the closing price of 90%. .Accordingly, it may appear at an issue price of 60 yuan to even approach the status of hundred dollars, but secondary market trading price may be higher, investors, high barriers to entry. .</ P> <P> the same problem with Zijin Mining, will also appear in the group's return to the red-chip companies. .China Mobile, for example, if the recent return of A shares of China Mobile, according to 1 yuan face value of issue of new shares, issue price will reach a thousand dollars. .The industry believes that the nominal value of 0.1 yuan Zijin Mining to issue A shares for return of red chips to explore the way for the return of red chips clear the way for A shares. .</ P>.

A share in the first quarter the number of new accounts plummeted since the record low of 07.

Continued downturn in the stock market early so greatly reduced investor confidence. .As of the first quarter of 2008, although the two cities account for up to 96,017,800 effective, but the number of accounts opened in the rapid decline in growth rate is a quarter the number of new accounts only 5.605 million, a record low since 2007. .<P> "Securities Times" reported that the board's latest statistics show that, as of March 28, Shanghai and Shenzhen account for a total of 113,354,700 A shares, B shares account for 2,371,700; valid account 96017800. .Statistics show that a quarter to open in Shanghai and Shenzhen stock account number 5605000, representing the fourth quarter of 2007, 12,303,000 of new accounts, a decrease of 6.698 million, a decrease of 54.44%. .The first quarter of 2007 compared to the first quarter of 2008 decreased 34.68% the number of new accounts. .</ P> <P> lows in the quarter while the number of new accounts, new accounts, also appears monthly in 2007 to a new low. .February 2008, the market amounted to 1.3092 million new accounts, slightly higher than the same period in 2007, reaching the lowest level in nearly a year. .In 2007, with the stock market continued to rise, the monthly number of new accounts too rapidly improved steadily, the number of accounts from February 2007 to 1,274,100 up to August 2007 of 8,924,200. .Since then, with the broader market continued to drift lower, the monthly number of new accounts have begun to gradually come down. .</ P>.

Listed company released the first batch of quarterly results for the market outlook will target hot spots.

Annual Reports reaching a peak in the first quarter results of listed companies are also getting the horizon, Rizhao Port and other three companies on April 8 in 2008 first reported a quarterly. .As of April 7, 108 notice of a quarter of the company, it has 91 pre-growth or earnings guidance, the good news become the absolute mainstream. .Market analysts believe that the increase from the current pre-view of a quarterly performance of listed companies do-than-expected growth, results of a quarterly disclosure will boost A shares continued to rebound. .<P> "Shanghai Securities News" reported that the curtain has not fallen annual disclosure, quarterly disclosure curtain has been opened. .Today, the Rizhao Port, Kim Yuk Wah Medical Group and the first 3 companies in 2008 a quarterly disclosure. .For investors, the first batch of quarterly reports of listed companies have released three Aspect concern. .</ P> <P> Aspect One: business growth geometry </ P> <P> listed companies are confident that regular reports published earlier, results are generally good. .The first three are published in quarterly net profit growth to achieve a different range, which Jinyu Group in the first quarter net profit rose as high as 165.46%, Rizhao Port and the fertile China medicine has reached a net profit increase of 46.90%, 37.16%. .</ P> <P> Jinyu Group today also launched a private placement plan, prepared to issue not more than 5000 million shares, raising the total amount not more than 520 million yuan, annual output of 1 billion investment in FMD vaccine ml suspension culture of 4 .projects. .</ P> <P> Rizhao Port in the first quarter operating income of 398,569,800 yuan, increased 42.16% over the same period, attributable to equity shareholders of the Company to achieve net profit of 57,160,500 yuan, up 46.90% over the same period. .The company on January 1 this year to adjust the main cargo port of the basic types of rates, average increase by about 10%, operating income and operating margin increased correspondingly. .</ P> <P> Aspect II: semi-annual report is expected by </ P> <P> next periodic report on the performance of the semi-annual report on how broadly the performance of listed companies are often in a quarterly can see a clue .come. .Because, according to the provisions, if the first half net profit is expected to substantially change will occur, a listed company must be in a quarterly in the notice. .</ P> <P> in the first 3 companies disclose quarterly, in addition to Kim were conducted outside the group results notice. .Wo Chinese medicine during the first half operating income and net profit is expected to continue to grow, in the first half net profit attributable to equity holders increased by 30-50%; Rizhao Port, said the adjustment as the major cargo types of port 2008 the basic fee .rate, cargo throughput increased and the implementation of enterprise income tax rate of 25%, first half net profit forecast significant changes will occur. .</ P> <P> Aspect three: body is into retreat </ P> <P> as disclosed in a quarterly in shares of tradable shareholders is as of March 31, that making the investment .institutions are the latest glimpse of developments. .</ P> <P> first disclosed in the quarterly three companies, Wal-Chinese medicine in the top 10 shareholders are not tradable sector of the figure, the Rizhao Port, and Kim to the shareholders of the Group worth a visit .the. .If the Rizhao Port, the total number of shareholders is 40,029, and annual disclosure is not very different. .Compared with the report, brokers, funds and other institutions into a QFII out. .Among them, the former ranked first in the unlimited Guotai Junan of shareholders holdings in the first quarter of 1071 shares, end of period 670 million shares; latest top-ranked brand moratorium preferred stock shareholders of Great Wall Securities Investment Fund holdings .1114 million for the New Shareholders; addition, the two QFII Martin Currie Investment, UBS is also a quarter of New shareholders. .</ P> <P> also learned this week as well, including China Petrochemical, China Coal Energy, including giants such as annual reports of listed companies released 136. .Among them, 65 companies had previously been issued notice by pre-52. .So this week will mark the annual and quarterly beautiful dance spectacular. .Analysis, the overall performance of the first quarter to the good, the market is expected to play down concerns about earnings outlook of listed companies; and with the valuation of A shares has become more rational, a new valuation system or will soon be established. .</ P> <P> from the market development, the rally could continue, depends on the hot spots from the broader blue-chip blue-chip to the second extension of the first quarter of forecasted earnings guidance is the second most blue chip companies. .Market analysts believe that prices in April will focus on the annual report in 2007, the right to Tianquan dividend and bonus shares grab the first quarter of 2008 increased earnings guidance of pre-performance opportunities, particularly oversold and some preliminary results of pre-victimizes the first quarter .second-line blue chips and the economy growing segments of the industry leader, can focus on. .</ P>.

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Cheng Siwei: Manniu pattern remains the same 30% of the investment value of stocks.

Cheng Siwei, former vice chairman of the Standing Committee of China on April 8 that China will continue the trend of the stock market Manniu before the Olympics may have a certain level of increase. .<P> He currently also insisted on the "Manniu" view of the problem to the National Research Council of the President of Taiwan, attended the speech said Cheng Siwei, the market continued to decline from more than 6100 points, has dropped to 3500 points .or so, but the bull market continues, the trend will continue Manniu, which can be analyzed from two points: </ P> <P> First, even if it is about 3500 points, but compared with the previous point, or rose 2245 .The. .He estimated that before the Olympics may have a certain level of increase. .</ P> <P> Second, he repeatedly said, do not put on the card index as a representative of the Chinese stock market. .Because the Shanghai index represents only 70% of China's listed companies, not representative of the Shenzhen listed companies; In addition, the Shanghai index is based on the total circulation to calculate the market value of the entire sample, there is a big deviation. .</ P> <P> the current market value of China's stock market is not equal to the total market capitalization. .The total market value in accordance with the result that the weight of a large blue chip account for particularly high. ."So can not just look at index, or to look at individual stocks." </ P> <P> Cheng believes that about 30% of the two cities still have investment value of stocks, these stocks after a sharp price adjustment, there is increased .opportunities. .</ P> <P> (http://) Cheng pointed out that the international bear market, some listed companies are often out of the market. .Bears turn in cattle, this part of the poor performance of the companies will not become black sheep. .But China's stock market bear market, is increasing the total number of listed companies, of which 30% of the top performance of the company, or about 400 companies have created almost all of the results, only a very small company behind the performance. .</ P> <P> "But in a bull market, their shares can also be speculation, causing the stock market all shares are high, so if there is risk, the underperformance stock investors must hold-up." He said. .</ P> <P> Cheng Siwei that probably go through three stages of this round of the bull market, which from December 2006 to last November, this stage of growth is extraordinary, even say irrational. .</ P> <P> Cheng said, "If you're cool think about it, is actually very simple, the stock market's fundamentals are the country's economic situation and the quality of listed companies, the country's economic situation and the quality of listed companies may not .Fan turned 3 in a year, so this price surge, it is certainly not sustainable. "This caused the depth adjustment. .</ P> <P> Cheng believes that public opinion on the issue raised most frequently stamp duty, stamp duty or income reduction can play a certain effect, but the effect is not too large, only short-term effects, the most important is to strengthen the underlying stock market .the system and improve quality of listed companies must be strictly investigated and dealt with inside information, fraudulent information, and malicious manipulation of stock prices to investors and create a just, open and fair environment, restore investor confidence. .</ P>.

Mainland stock market value of low-lying land to attract 377 million a week.

<P> U.S. portfolio in emerging markets research firm (EPFR) data show that the recent global money market funds suffered the most severe since the last wave of net redemptions, investors as of April 2 in the first week of the withdrawal of $ 13,150,000,000; .At the same time, the Chinese mainland market has become "the value of depression", attracted 377 million of capital. .</ P> <P> Equity Fund Group, most of this week, the rate of return of more than 2%, the United States, Europe, the global and Asia (excluding Japan) equity funds received strong inflows. .9 major sector funds in the sector has acquired Jing Shengou 6, in which the energy sector absorbed 1.53 billion fund new capital. .However, Japan and the Pacific Equity Fund is still difficult to get rid of the downturn, the financial sector funds have also suffered large net redemptions. .</ P> <P> emerging markets </ P> <P> Asia (excluding Japan) equity funds this year ushered in the largest single week Jing Shengou absorb 5.99 billion. .Mainland China stock market investors find investment opportunities, access to 377 million related to fund new capital; Singapore Equity Fund also received $ 110,000,000 Jing Shengou. .</ P> <P> felt last week, money is not the only Asian market to pick up, Latin America, EMEA (including Europe, Middle East and Africa) Fund also received Jing Shengou. .Jing Shengou Latin America benefited from iSharesMSCI Mexico Index Fund; and EMEA Fund is the main virtue of the resource-rich Russian commodities market to attract funds, followed by the power source is the Middle East. .But the diversified global emerging market equities have suffered a net redemption of $ 198,000,000. .</ P> <P> investment "BRIC" funds have access to new capital inflows. .</ P> <P> developed market </ P> <P> U.S. Equity Fund over the past 4 weeks Jing Shengou third time. .Large cap Value Fund is to attract new capital "main force", the market digested the strict supervision of the proposed U.S. financial system, and Fed Chairman Ben Bernanke for the first half of the weak economic outlook comments. .Overall, value-based management of the fund's market performance once again exceeded growth fund. .</ P> <P> Jing Shengou European Equity Fund also received, but only the second time this year. .A lot of money are directed at the Credit Suisse Group managed funds away. .</ P> <P> "Recent data show euro zone inflation, low interest rates still have to wait for several months. From Switzerland and Deutsche Bank's profit warning strengthened the euro area in the sub-prime crisis exposure .concerns, the European investors are still not being loved. "EPFR CameronBrandt, senior analyst, said. .</ P> <P>.

Once smooth three-day rally.