Insurance and Credit

Yesterday after noon, the State Council Information Office at the Shanghai International Convention Center held a press seminar, LIU Tie-nan, deputy controller of National Development and Reform Commission, Shanghai Vice Mayor Yang Xiong, vice head of Shanghai Tu Guangshao recounted in minutia at the gathering of the State Council, “on the advancement of Shanghai accelerate the development of up to date service commerce and sophisticated constructing, construction an worldwide economic center and the outlooks of an worldwide boats center, “(hereinafter mentioned to as” outlooks “).

With the “opinions” of the distribute, the Shanghai erected structure “centers” approach for the nation will publically rise.

Shanghai local shares and financial stocks are good to stimulate shipbuilding. Shanghai Pudong Development Bank was trading yesterday; New Shanghai plate today or super-two percent in early trading, the Chinese trading companies, or ultra-Garbo Group 5%. Shanghai is still active in the local stock abnormal Garbo Group varieties have good performance. At the same time, such as the United States are holding real estate stocks are also relatively strong, which means that real estate or shares in the short-term market is expected to become the new hot leads, affected, A-share market rebounded by shocks to stabilize.

It is stated that Shanghai will be ushered in guideline evaluates, embracing setting up a extraordinary primary gathering to endorse and usher in restricted controls, Nanhui District, Pudong New Area into the introduction of the renminbi in global trade, for instance making clear pilot.

Shanghai restricted allocations for the intents of plate, which encompasses some the fundamental thought of an global fiscal center, the Expo fundamental thought, the fundamental thought of the reorganization of the fundamental thought of multiple underestimate the worth of the sky-blue chips. Further excavation, which in the long-term capability of stores of concern. Quotes of the future course of differentiation, the fundamental thought of the Expo is still locked-in to be a purpose of observation.

April 16, the nation’s largest independent third-party payment platform to pay Bao and the new version of e-banking, Bank of China officially announced the co-operation. In future, the Bank of China a new version of Internet banking users can pay to achieve Bao shopping, pay-to-peer network a new life. At this point, including the Bank of China, ICBC, Agricultural Bank of China, Construction Bank, Postal Savings, Bank of the six state-owned banks, 15 national banks, and nearly 40 regional banks are the co-operation with the payment of Po. Email Shao xiao feng, president, commented, AliPay has more than 150 million users through the payment of Po platforms, banks and Po are working together to accelerate the payment of Internet banking, the popularity of online payment business. “For many people, go to the bank fees are a thing of the past in line.”

It is appreciated that the Bank of China Bao-line banking and fee furthermore encompasses the collaboration of the borrowing business card enterprise concern. Po with the fee of co-operation with direct effect, customers of Bank of China as long as the unfastening of a new type of Internet banking services can be accomplished through the fee of Po-line buying, journey, online services for example giving utilities. Aspects of the Bank of China said that the Bank of China co-operation will substantially enhance the client know-how and appeal more users of the services the Bank of China.

For the compensation of Po, it is in addition a good news. As of the end of March, Bank of China Bank Professional Network has been close to five million users, this objective is to arrive at 10 million. This means that the co-operation with the Bank of China will pay on-line this year, an advance Po of the 10 million capability customers. More meaningfully, online purchasing, web requests for paid job for instance compensation of the incidence of the birth of a large number of the separate someone and the separate someone, between separate people and enterprises, for instance micro-payment wants, the conventional fiscal services have been very arduous to get concurrently the wants of users. Through support with more banks, arising to become the third-party compensation podium to bind users to the conventional fiscal services wants and the best bond between.

“I desire to purchase things for example, a merchant can not get access to the mesh of all banks in the Bank, if the enterprise support mesh I do not have shiny, it will not be adept to entire the transaction. But as long as get access to to pay-bao, I have a bank business card can be conveyed out to pay, that is, I select to pay the causes Po. “users who pay for such a older Po articulate his views.

Internal network users appear silver sudden growth, and personal financial management and e-commerce market heat to accelerate the growth of the market is closely related to special factors. IResearch survey of “2008-2009 China Internet Development Report, the banking industry,” Research shows that as at the end of last year covered by individual network users amounted to silver 64,745,000, an increase of 33.7%. As at the end of February this year, AliPay users have reach 1.5 billion yuan, becoming the fastest-growing Internet area of a basic application.

Beijing, April 27 Mar Bank of China spokesperson Wang zhao wen27 Japanese broadcasting said that before the noting of the “Cross-Strait fiscal support agreement” to sanction both economic and fiscal schools in the body both boundaries will cross-strait fiscal support interchanges have optimistic and noteworthy impact. Bank of China is striding up its training for the inside training work, and strive to become the first to set up parts in Taiwan, mainland banks.

April 26, the Association for Relations Across the Taiwan Strait and Taiwan’s Straits Exchange Foundation signed in Nanjing “Cross-Strait financial cooperation agreement.” Under the agreement, both sides agreed to by the cross-strait financial supervisory agencies to consider the principle of reciprocity, market characteristics and competition in order to promote their commercial financial institutions to each other established institutions.

“Bank of China trusts to set up parts in Taiwan after probable to perform the extensive masses of Taiwan population and Taiwan. At the matching time, in addition greeted the Bank of Taiwan with mainland China and Bank of China to do business.” Wang zhao wen said.

Wang zhao wen said that over the years, Bank of China attaches large significance to the mainland and Taiwan’s financial development and the producing demand for economic services, and conceive several “firsts”: the first Taiwan-funded banks and enterprise swaps and staff swaps Continental Bank, the Taiwan compatriots for the first run NT and 15 types of foreign exchange and seven types of borrowing business card enterprise, the first Taiwan-funded enterprises to supply foreign currency borrowings, trade financing, conferring and worldwide factoring services, first obscurely through foreign organisations for cross-strait trade and non-trade settlement.

Since the 20th one 100, since the 90′s, Bank of China with 19 Taiwan-funded banks to initiate the bond between the instrumentality for which the instrumentality commended 15 loan extents, with the Taiwan-funded banks in China are most intimately linked banks.

In sustaining the development of Taiwan businessmen in mainland China, Bank of China one after another with Foxconn Technology Group, Formosa Plastics Group, Taiwan Cement, ASUS, AUO, Chi Mei Taiwan-funded enterprises and other large gatherings to initiate enterprise family, to become the manager of its enterprise in the Mainland Bank 1. Concentrated in Taiwan, Fujian, Jiangsu, Shanghai, Bank of China with more than 80% of the greatest Taiwan-funded enterprises have established cooperative relations. As of the end of 2008, Bank of China amassed Taiwan-funded enterprises to give financing same to about RMB 103.2 billion yuan, Taiwan-funded enterprises loan the forefront of the scale of residing in the mainland bank.

At present, the Bank of China on Taiwan enterprises dwelling the first mainland bank, encompassing down payments and borrowings in foreign currency for International Settlements (issuing trade, the Import and Export Trade, trade items financial invoice discounting, the affirmation of fee, trade items remittances investment, factoring financing trade investment enterprise, the assurances of non-finance, remittance, collection), foreign exchange capital procedures (that is, the long-term foreign exchange swapping, that is, the long-term foreign exchange town and sales), electrical devices banking, real-time overtake culture, the household fee and town in lieu of salaries and so on.