Personnel changes Taimukaiqi China’s financial industry, the four regulatory agencies to determine substitutions. According to media reports, Jiang Jianqing, the central bank is about to assume office, the Commission Guo about his new post, new post Banking Regulatory Commission Shang Fulin, 28, has been key Junbo CIRC office.

Personnel changes in the above, Shang Fulin, chairman of the Commission retired and assumed the post of Guo is undoubtedly the most concerned about China’s stock market investors. After all, this is the wish of investors but also investors have high hopes.

Shang Fulin, Chairman of China Securities Regulatory Commission, as the Fifth, since December 27, 2002 Since his inauguration, President of the China Securities Regulatory Commission sit in this position for nine years. Shang Fulin has done a lot during this period is conducive to China’s stock market is conducive to state-owned shareholders, benefit of the issuer or listed company’s work. For example, the share-trading reform; launch small board and GEM; launch of stock index futures; implement market-based pricing of new shares issued and so on. (more…)

Against the decision of the Greek unexpected rescue the country’s latest plans for a referendum, rekindled fears of default on the country market, U.S. stocks tumbled on Tuesday

At 16:00 on November 1st EDT (GMT at 04:00 on November 2), the Dow Jones industrial average fell 297.05 points to close at 11,657.96 points, down 2.48%; Nasdaq Composite Index [0.18% 2011.66 ] fell 77.45 points to close at 2,606.96 points, down 2.89%; Standard & Poor’s 500 index fell 35.02 points to close at 1,218.28 points, down 2.79%.

In view of Greece’s fiscal austerity and the deterioration of the economic recession has sparked a growing public outcry, Prime Minister George – George Papandreou on Monday night announced shocking, will target assistance to the country’s latest rescue plan for a referendum. G20 summit later this week will be held in France.

Decision on the referendum in Greece before EU leaders last week to develop a three-pronged plan: to make banks and other private investors, the Greek government bonds held by 50% write-down to reduce Greece’s debt burden; to recapitalization of the European Bank [0.98 -2.00%] of; euro rescue fund to enhance the fire.

U.S. economic data the market showed little reaction. U.S. Institute for Supply Management (ISM) announced in October from September ISM manufacturing index fell 51.6 points to 50.8 points. According to the Bloomberg survey, economists on average expected to be 52.0 points.

European stock markets fell Tuesday, the biggest sell-off to bear the financial sector. Greek ASE Composite Index fell 5.9%. Tok Pan-os 600 index fell 3.5 percent, to close at 235.06 points. The three major indexes in Frankfurt, Germany DEX index plunged 5.00%, to 5834.50 points; the French CAC40 index in Paris plunged 5.38%, to 3068.33 points; UK FTSE 100 index fell 2.21%, to 5421.57 points.

For college teachers, self-built housing controversy, the parties to sort out the council reporter found that the industry controversial “one-third to one-half the” purchase price difference, in fact, within the framework of the policy to allow.

In the “SCS [1998] No. 230″ and “teach the [1998] 23 Man”, are to encourage scientific research institutes, universities, cultural organizations and health agencies to use units of occupied land to build affordable housing for workers .

However, Tsinghua University, the construction of teachers’ collective property “, not the same as in the general sense of Beijing’s affordable housing. After 5 years in Fang Ling, teachers may not be able to obtain independent property titles, can not be traded freely. It is understood that many universities had set up the residential buildings are collective property of the swing. Apart from a number of community “self-built housing welfare” controversy, the university housing system should establish what exactly? On July 29, 2010 Xinhua News Agency authorized to issue “national long-term reform and development plan (2010-2020)” in section 54 that “according to the law to ensure that not less than the average teacher salary level or higher than the national the average civil service wage levels, formulate preferential policies to improve teacher working and living conditions. ” (more…)

World Wide Web intern reporter Guo Wenjing reported that the U.S. “New York Times” on July 6, Wuhan, China to build new subway system published an article that China urban construction funds from the strong local government borrowing, and excessive construction will make local governments unable to repay the debt, and ultimately caused the collapse of the entire Chinese economy.

Report commented that the future metro projects in Wuhan only part of the overall development plan, planning of other projects including the construction of two new airport terminal, a commercial district, a cultural development area and a height equal to half of the U.S. office building Empire State Building , to invest up to $ 120 billion total. This is China’s ninth largest city of Wuhan in this case is extremely luxurious.

Article continue to analyze that in recent years, local government infrastructure and real estate development on the contribution of the Chinese economy has gone beyond the foreign trade, become the backbone of China’s economic development. However, this momentum will shake the long-term development of China’s economy, because money comes mainly from the municipal building of local government debt to banks or issuing bonds. At present, China has most of the local government debt, which for years or decades, China’s future economic development is a huge potential threat. For the world economy is concerned, in recent years as China becomes the world important component of economic development efforts, the Chinese economy will have any significant changes from the international impact.

The article said that municipal construction everywhere in China, spent more than the so-called fixed-asset investment accounted for 70% of GDP, this ratio is a large country in any modern development have not reached before. Even Japan in the 1980s, the pinnacle of development and construction, the proportion was only 35%, while the United States hovers around 20%.

The report quoted an American expert as saying that if China specializes in one thing, that is infrastructure. But investment in China’s construction seems to be too high, which is how the lack of consideration, no one knows.

The person concerned has previously said that the Western media, “Chinese local government debt risk,” the concern is misplaced, because China’s economic growth rate and foreign capital into the situation, the risk of local debt is in fact controlled; from financing channel side, the problem of local financing platform not so serious.

German “Der Spiegel” reported on 3 site, is visiting Canada, German Economic Minister Bruderle said that the world may be the formation of a “rare earth OPEC”, he proposed the establishment of a “material Cooperation Organization” to oppose China’s rare earth monopoly.

In fact, Germany is not the only dissatisfied with the problem of rare earth, China has to import Polish Copper 3 messages are also likely to make Germany feel uneasy. In recent months, as China’s investment and cooperation projects in Eastern Europe increased, so has been to Eastern Europe as the “industrial back yard” of Germany was threatened.

October 10 Western Federation of German Industries Association of Commerce issued a report, saying China’s economic activities in Eastern Europe way similar to its activities in Africa, they often make a number of African countries to use their mineral resources in exchange for infrastructure loans. The Business Association believes that China’s economic activities in Eastern Europe and Central Asia strategy with a high political significance, and economic interests in the second.

Analysts believe that now, many East and Central European countries, Chinese companies can see the figure, while the German company’s advantage is being weakened. With the improvement of enterprise technology between China and Germany of “export”, “export-oriented” economy may face a direct confrontation, contradiction in evidence.

Indonesian Coordinating Minister for Economy said 哈达拉贾沙 this day, the fourth quarter of this year, Indonesia’s economic growth rate can be over 6%.

Submitted to the President Susilo Bambang Yudhoyono in the 2010 budget amendment to the development of the national report, Lagu Sha said that Indonesia is confident in the fourth quarter of 2010, economic growth rate above 6%. Among them, to October 2010 the total government budget expenditure of the budget 56% -60%, is expected to end about 96% -97%, all are confident to achieve the targets set by the government in advance.

He also said the general at the end of major festivals like Christmas, can stimulate people’s purchasing power, and directly boost the domestic economy.

The world’s leading data management and information management software provider CommVault Inc. in the United States launched the modern Chinese market data management products Simpana9.0.

Enterprise Strategy Group senior analyst points out that CIOs are trying to cut costs, reduce risk, while ensuring that IT decision-making can bring the most value. In this situation, the backup is growing modernization. The latest release of Simpana9.0 With CommVault software, you can expand capacity by more powerful, higher level of protection, faster recovery rate and higher efficiency, the physical and virtual server environments to manage, thus clearing obstacles on the road ahead. Also enable companies to more easily replace the less efficient solution, in order to achieve lower overhead and greater efficiency.

According to the British “Guardian” reported on 23, a British real estate tycoon in Dubai, “one of the most successful entrepreneurs,” in the world, but he bought Dubai’s “Little Britain” island after the accused to sign blank checks, is Dubai court sentenced to imprisonment for 7 years. He called on British Prime Minister David Cameron can get involved to save him.

Safi, 41 – Gula Shi (Safi Qurashi) in the area of South London Bar Hamm grew up, is a real estate developer in Dubai. He spent 43 million pounds last year to buy Dubai’s “Little Britain” island, but because of insufficient funds checks the signature, was sentenced to 7 years in Dubai court and was forced to terminate its men’s three real estate projects.

Dubai to build world map a blueprint for the construction of the “World” islands mainly built in from the sea sand mining, looking down from the sky, like a map of the world. Gula Shi bought them on behalf of “British” of the island, saying the “Little Britain” island. He had hoped the British architectural style of the introduction of this area of 11 acres (about 44,515 square meters) of the island, where construction of a traditional London pub, showing the world “the best in the UK under the sun.”

American actor Brad Pitt and Angelina Jolie bought a Dubai World Island, “Ethiopia” island (they adopted an Ethiopian orphan), and soccer star David Beckham, Prince Albert of Monaco, according to also known as the “World” island interest.

Gula Shi hopes to Dubai Sheikh Mohammed Bin Rashid Al Maktoum (Sheikh Mohammed bin Rashid al-Maktoum) complained they have been a miscarriage of justice. He told reporters that his ill-treatment by the Dubai police, he was grilled on a chair up to 8 hours or more, the authorities also allowed him to call and a lawyer. He also said that the court only been two brief trial, the defense did not give him the opportunity to convict him lightly. His wife continued to run around to rescue him and abortion, the mother of a heart attack and a limited life. Gula Shen said he now has custody of the prison, murderers and rapists and other criminals, who last month the Court of Appeal but was rejected, so he called on British Prime Minister David Cameron can get involved to save him.

Gula Shen’s father is Pakistani, and later he moved to England with his father, his father was a success in the UK in the travel industry businessman. In 2004 he moved with his family in Dubai, where he engaged in the real estate business.

Media reports, the Yahoo senior vice president of Asia Pacific Zoukai Lian said on Tuesday that Yahoo hopes its Japanese site can search from Microsoft and Yahoo co-benefit.
This is a unilateral declaration in Yahoo Japan to start technical cooperation with Google, since Yahoo executives of the latest position on this issue.

It is reported that Yahoo and Google in Japan in July this year announced a strategic partnership. Since then other Japanese Internet company Rakuten also opposed the application for antitrust investigation into this cooperation.

Yahoo Yahoo Japan Corporation holds a stake.

Against Yahoo China website, Alibaba is the controlling shareholder of Yahoo China, Yahoo and Microsoft’s cooperation does not directly bring about changes in Yahoo’s search technology in China. Zou Kailian has said that Yahoo is still available to Alibaba the areas of online search technology, but no matter what choice Alibaba Group search technology, Yahoo will show respect.

Not surprisingly, the U.S. printing press once again announced the launch of the global problem of excess liquidity is destined growing. Some experts said that this may further lead to global inflation and currency turmoil in the markets.

Inflation in emerging markets may increase

Federal Reserve monetary policy decision-making Federal Open Market Committee November 2 to 3 regular meeting held monetary policy decision-making, 3 announced the launch of the second round of quantitative easing monetary policy, the decision before the end of June 2011 to purchase 600 billion U.S. dollars of U.S. Treasury bonds to further stimulate the U.S. economic recovery.

The committee said the Fed will be implemented gradually after the middle of the plan, is expected to purchase 75 billion U.S. dollars per month long-term U.S. Treasury bonds. Fed is expected, they are buying U.S. Treasury bonds of the average length of 5 to 6 years, 35% held by the temporary relaxation of the ceiling.

The Fed also announced that the federal funds rate to 0.25% at 0 level of the same, to maintain the current discount rate unchanged at 0.75%. In response to financial crisis and economic recession, the Federal Reserve in December 2008 to the current federal funds rate to lowest level in history, and has remained at this level.

The banknotes issued by the United States once again, triggering the world’s major economies, especially in emerging market countries concerns. Because from the first quantitative easing monetary policy to see the situation, the Fed made a lot of dollars and do not stay in the United States, did not stimulate further private sector investment desire, but a large number of quantitative easing, the Fed made to the new influx of funds national market.

In the past few months, emerging markets asset bubble continues to expand, the rising exchange rate of its currency, rising commodity prices is pushing up inflation expectations in emerging countries.

The first round of quantitative easing Federal Reserve monetary policy began Nov. 25, 2008, financial crisis, the Fed announced it would buy government-sponsored enterprises Fannie Mae, Freddie Mac, Federal Home Loan Bank’s direct real estate-related debt, Two rooms will be purchased by the Federal Government National Mortgage Association guaranteed mortgage-backed securities, marking the beginning of the first round of quantitative easing. Together in March 2009 to the end of the year before the fall of 300 billion U.S. dollars to buy longer-term Treasury securities, Federal Reserve policy of quantitative easing in the first round of the implementation of a total of 1.725 trillion U.S. dollars of assets purchased.

April 28, 2010, the Federal Reserve interest rate statement issued after the meeting, not to mention and purchase agency mortgage backed securities and agency debt issues, which marks the first round of the Fed’s formal end of quantitative easing.

For the United States to restart the printing press, some experts said that in the U.S. interest rate policy to maintain a low level and large-scale quantitative easing monetary policy background, emerging countries which will make a further appreciation of the currency to weaken the emerging countries in global competitiveness ; followed by the influx of hot money led to asset bubbles increase; Furthermore in order to prevent future large outflow of hot money, Malaysia, Thailand and other emerging countries have to suffer to further strengthen capital regulation.

During the year, China may raise interest rates again?

“China as a member of the emerging economies, with most emerging countries are facing the same situation, that faces the currency appreciation, asset bubbles and inflation pressure, tightening of monetary policy more toward the road. October ahead of market expectations of interest rate increases, This is also reflected in the current international and domestic context, the Chinese monetary policy is gradually return to normal, hot money inflows and inflation pressure of more serious economic slowdown compared to. “Sealand Securities of a macroeconomic analyst in an interview said.

He believes that the developed countries to further quantitative easing in the current context of hot money will continue flowing into China, while China’s inflation pressure will further increase, monetary policy tightening will become inevitable. Taking into account the October CPI will likely reach a new high of 4%, the market remains higher inflation expectations, in November once the central bank may raise interest rates, increased 25 basis points. Meanwhile, he expects monetary authorities will strengthen the monitoring of hot money inflows of capital control measures.

For the Fed “release on” whether the action will intensify China’s future inflation, economists said Ye Tan, do not rule out the future there will be more severe inflation situation. If there is a small interest rate hike or a small revaluation of RMB, while capital and release, will aggravate inflation. The only way is the first capital stuck, and then take the domestic interest rate policy, the overheating of the economy is expected to continue to suppress and stabilize the domestic currency market.

In addition, the World Bank in the latest release of “China Quarterly Update,” also pointed out that China’s overall inflation rate rose sharply unlikely phenomenon, but also need to raise interest rates further. The report holds that China’s economy has been close to full capacity level of operation, growth prospects are very good, so need to further tighten monetary policy.

However, the Chinese Academy of Social Sciences, director of China Center for Economic Evaluation of Liu Yuhui believes that the central bank into the possibility of rate hike cycle is relatively small, to take administrative control of the number of tools and methods is a major, does not rule out negative interest rates when the external evaluation of the high sound , the central bank may raise interest rates by a passive 2 to 3 times to influence market expectations, to curb asset bubbles and speculation.