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.

Central Bank Governor Zhou Xiaochuan of the People’s website released the item “on the change in macro-and micro-to farther discover the pro-cyclical”, the item said, “to talk about some of the economic scheme and pro-cyclical components, likely remedies assesses as well as monetary and fiscal administration in the grave market urgent position of how to play a expert role. ” Zhou Xiaochuan, said the scribe, China’s macro-control principles are starting to accept crop, there are some premier signs of warmer indications of fast down turn in financial development has been checked the rudimentary situation. Zhou Xiaochuan made the establishment of capital guarded turn around cycle means and dynamically apply the “New Basel Capital Accord.”

This is Zhou Xiaochuan, following the March 23, the 24th following sites in the midpoint bank has issued a noted portion of the third. Zhou Xiaochuan made before the global monetary procedure and on the query of the fundamental thought of savings, it is proposed to bring ahead super-sovereign retain currency throughout the world attention. Obama President of the United States straight away articulated that “the prevailing tough dollar.” Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner in addition refused the U.S. request to give up.

However, Zhou Xiaochuan, the request has been many of deducing nations and some global organizations. March 24, the International Monetary Fund replied positively to the recommendations of Zhou Xiaochuan, head of the school Kahn said in Paris on the 25th, the Chinese super-sovereign global retain currency of the request is reasonable. Zhou Xiaochuan, the request in addition carried by the Russian and other “BRIC countries” to support, at the matching time, the European Union to insist the United States put frontwards to smash the aged procedure of global finance.

On the eve of the G20 summit to China and the United States acing for both boundaries for an global fiscal discussion, is way of heating up.

Binding means for the establishment of turn around cycle capital

Zhou Xiaochuan, said the scribe, the entire, China’s macro-control principles are starting to accept crop, there are some premier signs of warmer indications of fast down turn in financial development has been checked the rudimentary situation. These achievements in China’s government answered swiftly and conclusively to apply a proactive fiscal principle and loose monetary principle appropriately founded on the progress.

Zhou Xiaochuan believes that the current Ministry of Finance and the Central Bank of the West special mandate to stabilize the market, often through a long political process, which is often the best course of action to miss the opportunity. Economists usually focus on the macro level, the pro-cyclical, however, at the micro level, the current market structure contains a number of noteworthy features of the pro-cyclical, in response to the current crisis, reform the financial system should be addressed. In the existing market structure, it is necessary to arrange more in the micro-level mechanism of the reverse cycle (that is, a negative feedback loop), in order to ensure a more stable financial system.

In reply to these shortcomings, Zhou Xiaochuan incisive out the surviving capital adequacy ratio to subdue the vulnerability of the capital in actual, the cyclical natural world of the buffer, the sections the cause for fiscal constancy could play a certified role; and in fiscal guideline, the development of the use of reverse-cycle multiplier, Shun-cycle inhibitory element is the new way.

Standard Chartered Bank chief economist and head of global research that LEE Lai Si, macroeconomic imbalances and financial system within the combined effect of systemic failure led to the occurrence of this crisis, since the cycle of policy and risk management, especially under conditions of tight credit The lack of liquidity management is the main reason. To be out of crisis and need to establish a more balanced world economy, that is, the Western economies shift from high consumption to increase savings, Asia and the Middle East economies, high savings, reducing the savings to increase spending is also indispensable.

G20 summit frequency of the centered bank will shortly be handed out

Focused its vigilance on the world will convene in early April of the G20 summit in London, wanting to find directs the world finances, “Moses out of Egypt.” Lai Sze Lee try to number out, “Despite the present aim of vigilance round the world is how to explain the G20 financial and economic urgent position, but in truth, numerous nations will desire more long-term.”

Chinese Academy of Social Sciences Institute of World Economics and Politics, deputy controller of the worldwide economic study, said Zhang Ming, Zhou Xiaochuan made a couple of days before to restructure the worldwide monetary scheme for the intermediate and long-term dream, short period more tough to achieve. Once these concepts into truth, in the long run is compelled to dwindle the dollar’s rank, it is not astonishing that Obama opposed.

But Zhang Ming trusts that the summit becomes noticeable to have been included in too more high prospects of the parties that this be realised at one time utilitarian mentality, and eventually may become “non-weight bearing”, to duplicate the faults G20 summit in Washington, it is arduous to to arrive at any of the critical purpose in the liberate or reconstruction of the global monetary procedure of the substantive program.

Not long before at a press seminar on the concluding designated day, the centered bank website at 20:35 on the 26th one time afresh marked by the centered bank handed out the Institute of Finance “of the restructure of the worldwide economic supervision scheme, couple of understand.” In this paper, that the parties to the restructure regardless of the present economic scheme made many of proposals and pattern some agreement, but there is still “a number of matters yet to be completely cognizant of the parties or to come to a consensus”, so to recall the parties to pay vigilance to the reality of the following five questions: the first step to advance economic supervision is the supervision of self-criticism; the introduction of macro-management parameters of the cycle, turn around cycle to reinforce mechanisms; regulatory bureaus need to enhance the value, or need of supervision of the market know-how and feeling; to reinforce the use of ranking and ranking bureaus supervision; worried about the topic of business governance.

From the Securities and Futures Commission, Ministry of Finance, the midpoint bank, China Banking Regulatory Commission and other fiscal regulatory representatives from 11 of China’s fiscal reorganise in the fifth high-level forum, said China Banking Regulatory Commission and China Insurance Regulatory Commission has been the direct on the banks indemnity financial gatherings to arrive at a concurrence, first of all the four greatest banks in the pilot; fiscal managers to pay for the risk and peer-to-peer, performance-related. They in addition said that to endorse the erected structure of a multi-level loan market.

China Banking Regulatory Commission:

Insurance companies will set up four pilot

Supervision of a deputy controller of the China Banking Regulatory Commission Lai Sau Fu said China Banking Regulatory Commission and China Insurance Regulatory Commission has been the navigate on the banks protection businesses to come to a agreement, the first large-scale in the four navigate banks.

“There are four regulatory authorities can not be tolerated: loans” Richard III “strictly caused by the increase in non-performing assets, more than large concentration of credit risk limits, loans arising in the course of the risk of moral hazard, unscientific to product design, sales process information opaque, have a reputation risk for banks, a very bad social impact. “He said that the prominent support of economic development, we need to stick to the bottom line risk, stable asset quality, various types of risk in the prevention of foot effort from top to bottom, especially the prevention of new credit risk, the risk of acquisition of loans, balance-sheet business risk, silver letter cooperation risk, the risk of banks and other cases.

Ministry of Finance:

Finance and risk bosses need to pay for such

Ministry of Finance, deputy director of finance to study Hu said that the Ministry of Finance as an important financial asset management sector, in recent years, mainly the work of the following characteristics: First, from a focus on financial management to focus on changes in state-owned asset management; the second, from the focus state-owned financial assets to the importance of technical management of state-owned financial asset management of all aspects of managing change; Third, from a single system of state-owned assets to the development of state-owned financial asset management system to establish the basic framework; the fourth, the Ministry of Finance to fulfill both state-owned assets management functions, but also to some extent to fulfill the functions of the investor to exercise the rights of shareholders.

Hu discover that, to reinforce the economic administration of state assets should be apparently characterised objectives, the macro grade to defend the economic security and steadiness, micro enterprises to investment their own conclusions, to accomplish and boost their value. At the identical time, the administration of state-owned economic assets should be clear principles: First, the standard is authorized; Second, support the inducements and constraints on and so on, pay the identical values and risks; third is to advance the business governance principles.

Bank:

Research “lending Ordinance”

People’s Bank of China Liu Ping, deputy director of the Institute of Finance proposal to allow domestic private financial and non-governmental lending sun, and culture of China’s loans retailers, building multi-level credit markets.

“China’s monopoly of the borrowing market by banks in foreign nations, the major types of lending were unlimited, there are natural individuals, businesses, enterprises, associations, can be in diverse forms.” She said that the present “credit Ordinance” submitted up after State Council Legislative Affairs Office has been encompassed in this year’s study design is anticipated to standardize the pattern of nationwide legislation taken up by non-governmental lending, to shatter the monopoly, in order that a assembly of suitable persons listed to loan borrowings to address the topic of SME financing.

She furthermore said that the centered bank will extend to pathway real-time supervising and dynamic municipal humanity and alterations in lending to chink down on loan-sharking and illicit fund-raising, at the identical time, and the public will have a affirmative flow and promotion, in order that they can completely realise the non-governmental loans.

April, Ikon Asia impressive launch Ikon Currenex Viking foreign exchange, prized metals stage for inter-bank institutions. For the Chinese market, investors have the opening to take part exactly in the first time, foreign exchange and gold markets transactions, tender farewell to the middle of the customary brokers to intervene, as investors substantially decrease charges and advance earnings.

As the world’s most steady inter-bank electrical devices swapping stage, Ikon Currenex Viking discover the most cutting-edge research and expertise, supplying the premier foreign exchange location, ahead, swaps, borrowings and mortgages and prized metals swapping and very dark carton scheme form and the adoption of full bundle of white-label answers to supply customers with integrated economic transaction services.

2008, “European currency” in the United States Boston CURRENEX picked the best podium for online inter-bank foreign exchange exchanging platform.

2009, CURRENEX get access to to the economic publication “Global Finance” on-line foreign exchange swapping stage, “the best banking system” of winning. At the identical time, CURRENEX is furthermore a time span in January 2009 in the exclusive publication of the expert accolade of foreign exchange swapping platform.

Ikon asia has CURRENEX proprietor CURRENEX TECHNOLOGY INC formed a strategic joint project, which will endow the most of investors can CURRENEX easy-to-use swapping platform. New joint project will be entitled the Ikon Currenex Viking.

Ikon Currenex Viking foremost advantages:

Only the minimum amount of 1500 U.S. dollars to open an account; the provision of EUR / USD and other major currencies, as well as on the 0-1 point difference five real-time digital Quotation System, at the same time in other currencies can also be recorded on a very small spread of the inter-bank offer; direct connection to the inter-bank transaction pricing, bid farewell to the middle of brokers, many banks support seamless transaction prices, real-time price optimization system; farewell dealer participation, full electronic processing of transactions; in the platform dealing with the main square for the global foreign exchange trading banks; stripping the scalp to allow transactions; meeting seconds extremely rapid transaction execution; comprehensive, flexible order functions; dynamic access automatically to connect buyers and sellers; a wide range of business development model, a variety of after-sale support.

Based on preceding commerce perform, to have the opening to take part in the interbank foreign exchange and prized metals investors in the market only a couple of banks and other economic organisations, which would need participants to invest millions of dollars, not less than in the inter-bank market platform. Ikon Currenex Viking stage for retail investors to supply more possibilities to take part, you can considerably decrease the funding obligations of the participants, the smallest transaction of capital of only 1500 U.S. dollars unbelievable! Only one percent of usual standards!

Ikon Currenex Viking to any of the joining investors in the podium can be bound right away through the podium for the market to ascertain costs, as such a envoy body of the inter-bank exchanging podium, giving the most valued of all the classic create, this is the first time in actual time spans of the podium of the face of the enormous number of investors.

At the same time proud of Ikon Asia also announced that average daily trading volume increased from 1.5 billion U.S. dollars 20 billion U.S. dollars.

State Department yesterday issued building of the Shanghai worldwide economic and boats hubs (referred to as the “views”), encompassing the expansion of Shanghai’s economic markets open to foreign buying into, foreign enterprises to encourage the territory suggested to topic renminbi-denominated bonds, Renminbi stocks.

The official pointed out that in 2020 Shanghai into an international financial center based on the objectives of the process of internationalization of the yuan and RMB said the pilot cross-border settlement can be activated in the near future.

State Department’s “opinions”, the economic center of Shanghai, an significant future task is to encourage the “national capital account and economic market unfastening to the out-of-doors world”; encompassing the expansion of foreign investors to take part in the percentage of Shanghai’s economic markets, the scale of the expansion of worldwide organisations to topic renminbi-denominated bonds and unfastening up the scale of to encourage the territory of foreign businesses to topic renminbi-denominated bonds, as well as the timely start of foreign enterprises, for example A-share listed.

Standards in 2020 with the RMB internationalization

LIU Tie-nan, deputy director of National Development and Reform Commission yesterday in Shanghai at the conference pointed out that in 2020 Shanghai into an international financial center, and China’s economic strength and international status are closely related to the RMB.

At this time the erected structure of the State Council distributed a written material of a fiscal center, on the one hand, China wants to initiate a worldwide center for the portion of supplies, on the other hand, in the face of infrequent fiscal critical purpose, China wants to accelerate the establishment of secure, very fruitful and open fiscal system.

Shanghai municipal government in addition said that the fresh introduction of another “international fiscal center in Shanghai to endorse the erected structure regulations”, and the implementation of the scenery of the State Council written material on the precise prerequisites connected to work, principally in appealing ability, nurturing research, fortifying of fiscal services growth greatest guideline support. Shanghai Vice Mayor Yang Xiong said the stage would be set up pertinent sections in Shanghai, the midpoint government instrumentalities in Shanghai, for instance the composition of the command gathering to co-ordinate the deployment.

For the future of Shanghai as a economic center and the connection between Hong Kong and the State Council article documented that the Hong Kong Shanghai in the Mainland under the structure of economic collaboration, “to dynamically discover Shanghai and Hong Kong co-operation of securities goods, the Mainland and Hong Kong to encourage the economic collaboration and junction development. ”

Status of customers of divergent short-term change in Hong Kong

LIU Tie-nan said that Hong Kong and Shanghai as a economic center, in periods of scale, merchandise diversification and internationalization grade of the expert grade of participants, not on a level; they assist, the scope is distinct, so the short period Hong Kong as an worldwide economic center will not change. He furthermore accepted that even by 2020, Hong Kong is furthermore evolving, “and its rank and function, or will not change.”

Hong Kong Financial Services and the Treasury Bureau said yesterday in reply that such a rehearse in Shanghai, “Shanghai and Hong Kong will be the birth of a strategic cooperation” and that the two boundaries to enhance strategic support, “can bring ahead mutual endorsement and universal prosperity, he averted the extinction long “, and Hong Kong’s relative superiority lies in the internationalization of markets, liberalization and the institutionalization of the future will carry on to fortify and deduce these strengths.

Hong Kong: Hong Kong and Shanghai will be the birth of strategic co-operation

Tu Guangshao, vice head of Shanghai yesterday furthermore disclosed that the yuan in Shanghai to encourage the navigate cross-border trade town, “the situation are accessible, and the latest launch of the possible.”

According to him, including the establishment of the preparatory work is currently involved in a number of cross-border settlement of RMB business, as well as commercial banks and settlement systems, with the number of the first batch of pilot enterprises may have dozens or so.

In the makeup of a vessels center, Shanghai will energetically deduce the future of the vessels service procedure, the makeup of the development of an integrated global vessels direct areas; and sanction large-scale shipbuilding enterprises in the fiscal leasing financial gathering elements, as well as fiscal yield affluent in vessels, freight vessels, for instance the development of indicator derivatives and so on.

RMB against the U.S. dollar at 6.8253 yuan yesterday, weighed against with the earlier day or 20 foundation points for the fourth following get higher in close to 5 months to a new high. Analysis cites to the agent has restated on more functions to uphold constancy of RMB and hedge finance to captivate the inflow of one-year NDF in addition replicate the looked frontwards to appreciation.

Macro-economic stabilization of hedge capital into

Since last Wednesday, the yuan against the U.S. dollar higher on the 4th successive U.S., at 6.8253 yuan yesterday, and November 10 last year, the largest grade since. There are traders that the latest instability of the RMB against the U.S. dollar on the variety is anticipated to move somewhat from 6.82 to 6.83 yuan.

Refers to the market, China’s macro-economic data are signs of stabilization, and enhance market confidence in the trend of the RMB. At the same time, the official repeatedly emphasized to maintain the basic stability of RMB exchange rate to attract capital inflows. Secretary for Administration of Foreign Exchange of China Hu Xiaolian recently pointed out that the RMB exchange rate basically stable, lower risk of large-scale capital outflow. U.S. Treasury Secretary Timothy Geithner said last week, China’s commitment to continue to strengthen the value of the renminbi.

Overseas non-deliverable renminbi against the U.S. dollar market, one-year offer (NDF) yesterday in addition went up to the stage of 6.76 yuan, an signal of the acknowledgement of the renminbi is looked frontwards to to heat up again.

In addition, the U.S. capital of Washington to attend IMF meeting Governor Zhou Xiaochuan of the People’s Bank said that with China’s plan to stimulate the economy to enhance domestic demand, China’s current account surplus is expected to shrink, the medium term may no longer be a serious problem. Zhou Xiaochuan reiterated that they will continue the “pro-active fiscal policy and a moderate easing of monetary policy” and stressed that the Chinese economy “are confident that with the means to” continue to maintain steady and rapid development.

According to Xinhua journal April 18, the China Banking Regulatory Commission Chairman Liu Mingkang on the 18th in the 2009 Boao Forum for Asia annual assembly said that China’s banking subdivision withstand the fiscal critical purpose, has upheld a firm growth.

Liu held at the group, “the explore for fiscal research, openness and balanced regulation,” sub-forum, said non-performing advances of China’s banking subdivision has been a very good balance of manipulate, capital adequacy ratio on the get higher, banks a good rate of revisit, the development of the banking subdivision is healthy.

He said that in 2008 industry-wide yield of China’s banking subdivision arrived at 583.4 billion yuan, setting a world record for the utmost yield expansion atop 30%, but in addition the world’s first. Industry-wide revisit on capital arrived at 17.1 percent.

The participants are afraid about the subject of non-performing advances of China’s banking subdivision, Liu said that the first quarter of this year, China’s banking subdivision non-performing advance rate was only 2.04 out of 100, a diminish of the end of last year more than 0.38 percentage points. Balance of non-performing advances, exemplifying a diminish of 10.77 billion yuan last year. In his scenery, this effects in a extensive advance in advances made under the contributing elements, and not not hard to draw close by.

Wing Lung Bank will be profitable this year, at the recent performance of China Merchants Bank 2008 annual conference, so that the bank management.

2008, China Merchants Bank to a total of about 32 billion yuan to purchase 100% stake in Wing Lung Bank. By the enterprise natural environment, buying into, for example the influence of impairment, Wing Lung Bank in 2008 a decrease of 816 million yuan Hong Kong dollars. 53 per hundred for premium acquisition formed part of the generosity of 10.18 billion yuan, China Merchants Bank 580 million yuan provision.

China Merchants Bank president Ma Weihua said that the plan in 2013 in the successful completion of strategic integration, making cross-border Yonglong with an advantage on the Hong Kong market in the world of integrated commercial banks.

Vice president of China Merchants Bank, Wing Lung Bank, said Zhu Qi, confidence makes the Wing Lung Bank to profitability this year, the next three years to achieve profitable growth in a number of indicators than the average level of the industry in Hong Kong, China Merchants Bank led the next five years, the acquisition of Wing Lung Finance on value for money.

Li Hao, vice president of China Merchants Bank, said the acquisition of Wing Lung Bank China Merchants Bank is a sub-acquisition, of which 47 percent stake in the second part of the premium part of the acquisition of about 8.7 billion yuan in the capital reserve can be offset in full; and through the The first part of the acquisition of 53% stake in the premium part of the formation of the goodwill impairment test, the end of last year in the provision of 580 million yuan. “The sum of two parts, 45% of all the goodwill has been offset, we have adopted more conservative measures, the level of impairment provision is not low.” Li said.