China Fund company of the year track record, to purchase the company its new Fund

1-China universal 50 million to buy its new Fund, for a total value of over 350 million

China universal use $ 50 million Fund of funds, imposed on the subscribe for the first private enterprise stock investment funds--private energy stock securities investment funds in China universal. According to statistics, since the fund company is allowed to use its natural capital investment fund, China universal funds cumulative purchase amount is more than $ 350 million of its funds.

China universal funds, the largest single subscription, one is for consistently adhering to the long-term value of investment; the second is a universal private equity fund is the first private enterprise Fund, high concentration of private enterprises in the capital markets in the emerging key industry sectors and domestic demand, this investment thread fit policy in the near future.

2-China Fortune SGAM Fund returns more than three years five 16% among the top 60

According to the latest statistical results of the morning star at the end of March, Warburg subsidiary of Societe Generale 5 established more than three years of partial stocks funds, annualized rate of return over the past three years among all open top 60 three-year annualized returns of the Fund, as its long-term performance overall one of the best performing fund managers of the Fund.

According to Morningstar statistics, as of March 31, more than three years of open-end Fund up to 280. Warburg subsidiary of Societe Generale, consumer goods, Po, power combination strategy growth, profit growth and advanced 5-annualised returns of stock funds over the past three years more than 16%, are among all open top 60 three-year annualized returns of the Fund. In this 5 only Fund in the, more policy growth, and Po Kang consumer goods, and power combination and income growth, 4 only fund ranked all open fund three years years of return of Qian 30 strong, which performance best of more policy growth past three years years of return reached 24.45%, in all open Fund in the home fourth, this order China Po industrial became its fund long-term performance overall performance best of fund company one.

Analysts said the Fund, CSI 300 index of years or three years in the past only to 6.35%, Warburg subsidiary of Societe Generale 5 merit Fund of historical performance significantly beyond that level. Funds for its long-term performance leading, China Fortune SGAM Fund said China Fortune SGAM long-term stay ahead of performance thanks to both centralized and diversification of investment and research and business management. On the details on how to invest, Warburg industrial encouragement and pursue a wide range of styles, which makes its possible long-term performance go hand in hand for different categories of products.

3-Golden Eagle Fund receives over of its revenue this year to the total rate of return 2.86%

Morningstar data shows that as of March 26, Golden Eagle and small-cap this year total return of 2.86% in 74 standard hybrid funds listed in the first place. The investment policy of the Fund has insisted on the selection of quality stocks, under the volatile market environment, select a unit capable of funds can often be easier to seize, excess profits.

Check fund performance can be found in the first quarter, the performance outstanding most of the funds are focusing on the mining stocks. Equity funds, for example, as of March 26, except for two card 500 as an investment object in index fund, March 7 in the top ten funds are "selected stocks" as the year of the Tiger's core strategy.

In addition, the Golden Eagle is raising a new Fund of its robust growth--Golden Eagle Fund, will continue to be guided by selected stocks and small-cap fund investment policies, and both as a professional model for accessibility, for non-key balanced asset allocation and investment. On this basis, the new Fund will also raise the stock asset allocation to 95%, more flexible than the Golden Eagle and small-cap and growth.

4-UBS sdic CSI 300 financial property refers to the base end of the 2nd collection

UBS sdic said concerned, first within the industry--UBS sdic CSI 300 index funds financial real estate Index Fund on April 2 ended on schedule to raise.

UBS sdic Fund Assistant General Manager Kenneth Liu pointed out that stock index futures, margin trading business will drive massive growth of trade and Innovation Fund of funds products. From the perspective of trends, along with innovative variety of emergence, pathway between traditional brokerages and banks will further be open, lines between Christian Democratic and investors will no longer hold.

UBS sdic CSI 300 Finance Real Estate Index Fund Manager Ma Shaozhang pointed out that the proposed Fund, finance and real estate industries now have the advantage of valuations. In the context of understanding converge on the market-style translation, financial and real estate stocks favored by the market main capital further in the near future. Decision based on panoramic data terminal provided by the report on monitoring of capital flows, led by banks on Friday to render multiple days in a row earlier this week net inflow of funds. In the long term, financial and real estate sector has been the focus of main body configuration.

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Three small companies such as Lear in Beijing today to start IPO

Beijing Li Er (002392), Lik Sang pharmaceuticals (002393) of the shares (002394) today released an offer letter of intent, officially launched IPO.

Beijing profit, company executives will take place April 6 roadshow team in Shanghai, Shenzhen and Beijing launched a preliminary inquiry and roadshow promotion work. In accordance with the programme, Lear sell 33.75 million shares shares on the Shenzhen Stock Exchange, 25% per cent of total shares after this release. Companies will be conducted between April 6 and inquiry. April 13 to offline purchase, payment and issuing purchase online today.

Beijing superior domestic refractories for iron and steel industry as a whole contracted business model first, is the nation's largest collection of materials in the design, development, configuration, installation, construction, maintenance, manufacturing, facilities, as one of the "full online service" one of refractories for iron and steel industry as a whole contracted suppliers. Companies raise investment projects include the annual production capacity of 10,000 tons of functional refractories for continuous casting, annual production capacity of 45,000 tons of high quality refractory materials for external refining and an annual output of 10,000 tons high-grade ceramic fibers and products. Company, offering investment and project products are high-tech products represent the refractory industry development direction, belonging to the upgrading of refractory products, have good market prospects and good profitability.

Lik Sang pharmaceuticals that have been a nearly 60-year history of the plan to issue 46 million shares, after the release of the total share capital of 25.21%. The company is the medical systems of large enterprises in Tianjin, is the synthesis of pharmaceutical and chemical preparations production an important one. Company is mainly engaged in chemical medicine tablets, hard capsules, granules, pills, production and sales of products such as raw materials, daily production of more than more than 20 categories, more than 100 varieties of specifications of the dosage.

Lik Sang pharmaceuticals which, raises funds wholly-owned subsidiaries of Tianjin is mainly used in subordinate industrialization projects of new pharmaceutical chemical raw material drug company, new pharmaceutical chemical pharmaceutical preparations production research and development projects, as well as the acquisitions group biochemical pharmaceutical companies 48% interests.

UNDAF intends to sell 27 million shares shares shares, raise money for 4 items, including high-grade fabric zhiran and finishing technical innovation project, high grade special natural fiber yarn production line technical innovation project, high-class shirts hanging assembly line technology project, dyed textile research and Development Center construction project in Jiangsu Province, total proceeds amount to $ 736 million.

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China top ten cement enterprises capacity accounted for 35%, three years out of production capacity of 300 million tons

The State Council, "7th" designated wards, reorganization of cement industry will start.

Current cement merger and reorganization of enterprises will also be upgraded. From large enterprises and a little "hungry" merger of cement companies, evolved into large enterprises to selectively acquire regional leader.

After encountering a new deal between the two, most of backward production capacity of cement industry in the next three years will be exited.

Daily economic news under yesterday by about channel exclusive was informed that, by Ministry drafting of State on further strengthening eliminated behind capacity work of notification under (country made [2010]7,, Xia said 7th, text under) recently has issued to provinces, its most core content is determines has capacity excess industry in future three years of eliminated task, and for cement industry, by preliminary calculation, future three years behind capacity eliminated total will is greater than 300 million tons.

Exposure of the above data and yesterday was the cement industry of industrial policy (draft) (hereinafter referred to as the policy) to match.

1-the State Council "7th" identify three year phase out production capacity of 300 million tons

"The 7th already issued to the regions, just concerned and not published on the Internet. "Chinese cement NET CEO Roman Shaw told the business daily yesterday revealed that the core content of the 7th is backward cement production capacity out of the standard to be determined, and further clarified in the next three years total backward cement production capacity out of about 300 million tons.

Backward cement production capacity mainly refers to the kiln. In the 7th, in the article, is greater than 3 meters in diameter, becoming a kiln and small grinding station became standards of backward production capacity.

Reporter road was informed that, the eliminated of standard is set for kiln diameter 3 m following of State kiln, kiln diameter 2.5 m following of dry method hollow kiln (production high aluminum cement of except), and cement wet method kiln (main for processing sludge, and carbide slag, except), diameter 3 m following of cement mill station (production special cement of except) and cement soil (egg) kiln, and General State kiln, behind cement capacity.

Relevant person also said that due to insufficient means of metering online, can only be determined in accordance with the principles of the process and the relatively backward. However, in 2010 China International Summit on cement, on the day before yesterday, the Ministry concerned also said, this is only a minimum standard. Overcapacity in affected areas, target behind inefficiency of small new dry process kiln and kiln still ready to phase out more than 3 m in diameter.

Coincidentally, yesterday referred to in the media exposure of the policy, according to legal production licenses made statistics, in October 2009, national or wet process kiln, common hollow kiln, kiln capacity totals about 330 million tons. Strict implementation of the new industrial policy, can be eliminated within three years an annual cement production capacity of about 300 million tons of various types of cement kiln, small powder can eliminate backward about 1000 or so behind grinding capacity of 240 million tonnes. It has been learned that, knock out backward cement production capacity has entered the countdown.

2-rein in new production capacity of 2000 tons below, there is a chance

On the backward production capacity, the policy also raised the 2015 target, which eliminated all kinds of hollow kiln waste heat power generation, speed up the phase-out of single size is less than the annual production capacity of 150,000 tons of clinker kiln and is less than 250,000 tonnes of various types of rotary kiln, and one size less than 400,000 t/a cement grinding station, cement preparation station.

Backward production capacity out of acceleration, and new production capacity in the future to control intent is also very obvious.

Compared to 2006 the development of the cement industry development policy, the new policy of the cement industry to remove "development" with the words. Its policy-oriented and there have been noticeable changes. Which main goal is to promote development of new dry process kiln, which is to control the appropriate development of new dry process kiln, prevent serious overcapacity.

The daily economic News learned that, in accordance with the policy set out in equal amounts out of the principle of new type dry-process cement will also be developing by 2015 and specific gravity of 90% or more.

For an introduction to business people, most of the new project is now daily capacity of 2,500 tons, and moderate content development is the policy in the future qualify as "major", so Nissan 2000 tons dried normals will be difficult given the chance.

The policies 2000 tons of tough demands on new lines, provisions to increase capacity-building projects must comply with the requirements of the special program of regional development of the cement industry.

"Future line of 2000 tons is to be eliminated. "Roman Shaw said.

According to the scale of existing Nissan 2000 tons new dry process cement production lines of nearly 300. According to every reporter has learned that the China cement industry's existing 2000 tons of normal which is 1500 t/d, 1000 ton, 700 tons of three types, the total production capacity of more than 100 million.

3-industry restructuring accelerated "top 10" capacity accounted for 35%

Because the new capacity is limited, cement the pace of merger and reorganization of enterprises will be faster. Xiaojiaxiang recently to reporters, President of southern cement, cement the South currently in the engaged and some cement companies restructuring, 2010 Southern Cement restructuring will focus on in Hunan, Jiangxi and Guangxi.

China resources cement strategy Director Yu Zhongliang has said, in the four provinces of China resources cement is located, have the right enterprise resources must take into account acquisitions, but on a home. In addition, the current cement merger and reorganization of enterprises will also be upgraded. From large enterprises and a little "hungry" merger of cement companies, evolved into large enterprises to selectively acquire regional leader.

From the wave of mergers and acquisitions of 2009 you can also see the slightest clues. Biggest mergers and acquisitions of the last year no doubt belong to the Taiwan Cement acquired prosperity, which total capacity of 16 million tons, taini cement to total capacity of 43 million tons in China. In addition, Wood Group's acquisition of qilian mountain, jidong cement finish holding Qinling cement, wulan cement into the cement, are generous.

Tian Donghong, analyst at CITIC construction investment, told reporters, will become the dominant such strategic mergers and acquisitions in the future, many small cement line is its own.

The requirements for the degree of industrial concentration in the policy will also speed up the restructuring process. In 2006 in the industrial policy "by 2020, the number reduced from 5,000 to the 2000 homes, scale of production in more than 30 million tons reached 10, 5 million tons to reach 40" was deleted, the new plan is to 2015, top 10 cement production accounts for specific gravity of 35% or more of the national cement production, clinker capacity specific gravity of 50% or more.

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Iron ore negotiations failed, CISA axe at this from the inside

CISA: business volume of less than 1 million tonnes to cancel import qualified.

Except for demanding traders implemented outside the Agency, where a breach of discipline Convention business qualification will be cancelled

Analysts believe that the establishment of a standardized unified iron ore import market order only, in the negotiations in the future, to have told miners rival premise, "in the sensitive period of iron ore negotiations and consolidate negotiations to ease the current situation will have a certain effect. ”

Iron ore negotiations deadlocked, new fiscal-year iron ore changxiejia settlement date-April 1 and again lost the "meaning".

Yesterday (April 1), the economic daily news reporter learned of several steel plant, China iron ore negotiations over iron ore giant, to which no substantive progress.

"China Steel Association does not receive quarterly, mainly taking into account market stability. If throwing open the market stable, short-term quarterly prices are also a good choice. "Joint metal, analysts said.

Reporters learned from the CISA insiders, CISA and five-Chamber of Commerce held emergency closed-door session today to discuss how the iron ore import qualified reorganization of iron and steel enterprises and traders.

1-miner: create a tense atmosphere pressure

Hunan Valin steel group senior who asked not to be named, told the daily economic news reporters, yet did not receive information about the outcome of the negotiations, "amid rumours a lot now, what would make people not see the end result. ”

"Many times in previous years there have been negotiations to extend, on April 1, had lost its original meaning" Langer NET analyst said Ming Sun, from the previous years negotiations, prolonged negotiation is normal, even in June, July and the results do not surprise.

It is learnt that the acceptance of the new agreement as soon as possible in order for the Chinese side, iron ore giant is "well intentioned".

This reporter learned from the many mills, some domestic steel mills to get changxiejia's hard to, monopoly of the big three miners in order to create an atmosphere in the interests of its own market, forced the Chinese to accept a new deal, by controlling the supply of iron ore to create a tense atmosphere.

Jingtang port and one closely Mills told the daily economic news reporter, currently of jingtang port CIF price is about 1.5 million tons of iron ore, and compared to the normal requirements, this quantity is far from enough.

The other hand, the big three also adopted a large number of Charter to higher shipping charges up to CIF spot ore prices settled in.

"While the spot price, the big three will be reduced to a number of steel mills thrown long supply requirements, and create tension. "Sun Ming said.

Miners are a series of moves, China has officially remained firmly.

A few days ago, China iron ore Conference in 2010, Ministry of raw materials Division Inspector silver pine stand Jia, China still holding stick to long iron ore price agreement bargaining chip, "we demand is the biggest bargaining chip. "He believes that once made to iron ore price index as a benchmark changxiejia, hype would certainly appear to index this year, which will continue to push up the price of iron ore raw materials.

2-China: strengthening the rectification of the import order

Tricky negotiations over iron ore, to force the Chinese side to release again "internal consolidation".

Yesterday, the daily economic news reporter by CISA insiders noted that the passive situation of iron ore negotiations, today, CISA and five-Chamber of Commerce to hold emergency meeting behind closed doors.

Those who declined to be named told reporters that emergency closed-door meeting will bring together some of the country have the mills and iron ore import qualified traders, "in addition to discipline traders implementing agency, any breach of discipline Convention business, qualification will be cancelled. ”

"In recent years, negotiations have been difficult, but rather weak regulation of the domestic steel industry. "" I Net "Zhu Xian, an analyst said.

Reporter learned that, after iron ore negotiations held at the Ministry's briefing, Jia yinsong, clear, the Ministry recently, through mergers, five measures such as eliminating backward, creating good conditions for regulating the order of iron ore imports. At the same time, through self-regulation, further standardize the order of imported iron ore in China, adhere to the principle of risk sharing, mutual benefit and win-win, persisted in proceeding from the long-term interests and it's good for buyers and sellers of long co-pricing mechanism.

It is reported that before the meeting, China Steel Association have reached agreement with five-Chamber of Commerce, traders also imports iron ore industry self-regulation.

Analysts believe that the establishment of a standardized unified iron ore import market order only, in the negotiations in the future, to have told miners rival premise, "in the sensitive period of iron ore negotiations and consolidate negotiations to ease the current situation will have a certain effect. ”

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World Expo in Shanghai, China to enter the 30-day countdown, tourism business battle looming

On April 1, at the national cheer, ushered in the 2010 Shanghai World Expo countdown to 1 month. From the opening date drawing near, while the stock market has eyes focused Expo held a benefit after the World Expo on a medium-term concept, this Expo concept stock speculation into the climax.

It is reported that the new 18th on the Organization of work and operational readiness of Shanghai World Expo held a press conference, Executive Vice Mayor of Shanghai, the World Expo Executive Committee Deputy Director Yang Xiong described, there are 192 countries and 50 international organizations confirmed exhibitors, the number of international exhibitors has been creating the next World Expo history, 17th World Expo tickets have sold more than 18 million.

1-Consumer upgrade stage

According to Expo Bureau estimates, during Expo will attract 70 million visitors come to visit, and at the same time, during the World Expo there are over more than 20,000 domestic and international related activities held in Shanghai. Guotai Junan securities, or even predict the World Expo will attract visitors over 100 million people, conservative scale calculation of consumption is also up to $ 188 billion, which led directly to Shanghai's retail, tourism, restaurants, hotels, transport and other related industries contribution total up to more than $ 100 billion.

Obviously, that directly stimulate the development of transportation, hotel and commercial stores and prosperity for the benefit of these industry groups directly, and more recent related industry Expo concept stocks, the more dynamic performance, makes the movement of the plates began to firm up.

Securities industry analysts told reporters in Shanghai, from the perspective of time series, Shanghai World Expo on the pulling effect of industry is divided into three phases, respectively, the preparatory phase, that is, construction and real estate industries; consumer promotion stage, mainly related to the catering tourism, retail, and transportation; stage Expo after effects, including tourism, commercial real estate. From the previous situation, Expo held on the entire clothing, food, housing, transportation and other related positive effects on all aspects of industry, and to stimulate the local economy very clearly, the Expo has been or is about to have an enormous positive impact no doubt.

2-hotel industry with "cake"

In contrast, investment Expo concept is also a topic, related industries benefit levels vary, but on the whole, hotel, commercial, and transportation benefits are most apparent, as related companies on the capital market is also the most vulnerable to financial favor. According to some in the industry that is at the top of hotel and catering services, benefit level will be 34.3%.

From the recent stock market performance, as a handful of tourism listed companies of the sector of Shanghai World Expo, Pearl of the Orient has a good performance. Oriental Pearl Tower also known as Expo shares the concept of a "Pearl".

"The company has a landmark tourist attraction Shanghai Oriental Pearl Tower, Shanghai International Convention Center, five-star hotel River Cruise Business Expo and the only company to participate in Expo of stadium operations, such as performing arts center. "Galaxy securities analyst Xu Yaowen tourism industry in an interview with the securities Journal said," opening of the Expo, first of all is to stimulate the promotion of tourism, thereby driving the popularity of upgrading from Kunming, Shenyang flower Expo in the past can be seen, on the latter part of tourism is the promotion of sustainable. ”

After the closing of the Expo, the Expo theme pavilion, World Expo Center, the Expo axis building permanent, which will become a new tourist attraction Shanghai, stimulating tourism in Shanghai.

This reporter has learned, taking into account factors such as the possibility to benefit, benefit from flexible, we think will benefit the tourism industry Expo will have an effect is expected in the long run.

Tourism promotion will stimulate the demand of hotels, promotion of Shanghai's status as a tourism destination, will raise the level of local hotel occupancy rates and house prices.

According to relevant data, during the World Expo, estimated number of hotel beds in demand of about 600,000, as Expo recommended--Jinjiang hotel is undoubtedly one of the most advantages of shares, Jinjiang, and a number of restaurant chains, that they own shares of low-star hotel and apartment hotel's 900 rooms Management Expo.

Jinjiang shares interviews with journalists call, a woman says, "annual report has not been disclosed, some statistical data had not come out, belongs to the hotel, have started very early to accept the Expo room reservation, is now scheduled to price increases, occupancy rates will increase. ”

Data show that Jinjiang shares its has been the center of the Hotel Forum in Asia not only as "best economy hotel chain in China" honor "Jinjiang hotel chain", in addition, the company also has a stake in KFC in Shanghai 42% Shanghai Cafe restaurant new Asia Limited, owns 75% limited number of catering enterprises, will share a cup of soup in the Expo.

According to the analysis, because around the nearby Suzhou, Hangzhou, Shanghai, Jiangsu and Zhejiang's tourist attractions, accommodation, play, with a large number of people will be involved, or streamed to the Suzhou, Hangzhou, jiaxing, and other places. "Expo effect" on the start, back River and along the coast. From Hangzhou, Zhejiang to Jiangsu Lianyungang, from central China's Anhui Province, Jiangxi province until Western Chongqing, pulling on the regional economy is from the Yangtze River Delta to expand to the middle and lower reaches of the Yangtze River and coastal areas.

3-commercial consumption follows

Long-term industry chain overall benefit: according to reporter understanding, shopping consumption spending is domestic visitors maximum of a items spent (accounted for total spent of 42%), 70 million passengers of Expo visit crowd will formed powerful purchasing power,, if by per person consumption 3,000 yuan rough calculation, on equivalent to more than 200 billion yuan of consumption scale, only to Shanghai area calculation, as much as 4 trillion investment of second times consumption stimulus policy, so apart from tourism hotel industry, industry links undoubtedly will reaching commercial retail industry, Shanghai retail benefit significantly. According to the calculation of guotai Junan, during the World Expo Shanghai retail industry led 14.8%.

Lao Feng Xiang as a listed company was officially included in the second batch of 2010 Shanghai World Expo licensed products business license unit, with design, production and sales rights of Expo licensed products of precious metals.

Indeed, due to the Expo will last for 5 months-long, relatively long time, World Expo concepts will also be in the market and gradually started to digest. Sinolink securities senior analyst of Shanghai Xu Wei believed that "Expo with games similar to, but not exactly the same, Expo is likely to have exceeded expectations earnings! "Food and brewing industry analyst with Galaxy securities, Mr Tung to the securities Journal said," Enterprise brand image Expo to the food consumption, are long term (expected). ”

National Expo experience shows that Expo to have a significant role in stimulating regional economy, pulling the main industry focused on the benefits from investment in infrastructure construction and building industry, as well as benefiting from (if) the consumer-driven retail, hospitality, transportation, and thus effect the World Expo tourism, commercial real estate and other industries.

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February business development in China, move continues to lead

National Ministry of industry and information technology recently announced the 3G of business in the Mainland. According to statistics, by the end of February, 3G largest 16.06 million households in China, China Mobile TD-SCDMA user most of them. With three Chinese Telecom stocks "report cards" have been released as well as the recently published statistics to improve, the sector has been gradually stabilized yesterday, beat Hong Kong stocks as a whole. To close, China Mobile (00941.HK) increased by HK $ 1.14% at 75.5 China Unicom also gained 1.14% to HK $; Telecom increases slightly raised, 1.83%, closing at HK $ 3.9.

1 -move the lead-3G

According to the Ministry, added 3G users of 1.52 million for February families in our country. Until the end of the month, 3G cumulative reach 16.06 million users in China. From moving 6.86 million households, 5.14 million of China Telecom, Unicom only 4.06 million; on the network, China Mobile's TD commercial network covers the city reached 238, China Unicom WCDMA commercial cities up to 335, China Telecom CDMA2000 network has covered the country's 342 prefecture-level cities, 2,055 counties, more than 6,000 more towns.

Moving around in the recent "mobile TV" business formal commercial press conference, Ministry Chief Engineer Su Jinsheng said, since its 3G licence issued, moving full speed networking last year put in network construction fund of 65 billion yuan (RMB, same below), the new TD-SCDMA base stations 10. 80,000 invested 650 million dollars weakness and rapid development of led chips, terminals and other industries. He disclosed that the 27 provinces are now launched mobile TV business, covering 303 prefecture-level cities above the town.

Goldman Sachs believes that owned telecommunications unit's performance in the waves in the near future there will be two major themes: first, cut capital expenditure, the other is a rational competition. The Bank said that three Chinese telecommunications shares, move the highest earnings predictability, expected its recently most likely to announce 2010 first quarter of strong results; respectively, China Mobile and China Unicom's rating to "buy", telecommunications rating to "neutral".

2-line frequently to increase its stake in the Telecom

Recently, the international lines frequently sell huge holdings, China Telecom, became a major attraction in the sector. It is learnt that the Commonwealth Bank of Australia declared to the Hong Kong Stock Exchange said on March 22 and 23rd, holdings of 49.396 million shares and 93.722 million shares, respectively, China Telecom shares, currently holding at 8%; JP Morgan on March 4, Hong Kong dollar holdings near 3.52 in the average price per share shares, China Telecom, holding at 6.01%.

China Telecom's performance last year, Nomura believes that EBITDA is at the end of last year the company, plus the added power user growth, consolidated EBITDA this year is expected to continue to grow. Although the regulatory environment in the Mainland will change, but the limited risk of adverse and favourable factors include the CDMA business pick-up increases its share price, fixed income steady growth, achieving EBITDA break-even time shortened its mobile business. Due to the China Telecom network is used by the parent company has 3G lower capital expenditure, therefore China Telecom into Chinese telecommunications shares a preferred.

3-slightly down from

Citi China Unicom's performance view, which 3G losses in the fourth quarter of last year, fixed income is less than the market expected, and disappointing performance of its share price pressure, so lowering the rating by "holding", cut the target price HK $ 18% per cent.

BOCOM International also said China Unicom's 2009 performance was slightly lower than the Bank expected, mainly due to the 2009 3G a large loss in the fourth quarter, and its broadband ARPU fell 10.1%, fell by 5%. 2010 the Bank's cautious view of China Unicom added ARPU value of more than $ 100 target of 10 million users, due to marketing costs and depreciation is expected to drag on 2010 performance, reduced its forecast earnings per share this year and next to HK $ 0.35 and $ 0.33, maintaining the target price of HK $ 7.

But Bank of America Merrill Lynch on China Unicom's relatively optimistic, given its "buy" rating and target price of HK $ 13.5. Merrill Lynch said that the consideration of China Unicom's corporate management in the first quarter may show people being not of one mind, they 3G pick-up are expected in May or June to improve the situation. The Bank said that China Unicom is currently valued, comparison of the enterprise value to EBITDA for 2010 and 2011 discount 5% Asian film industry.

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Land transactions active in China, 20 urban land growth last year 180%

Research Institute of China index report released yesterday shows that since the beginning of 2009, national real estate market to pick up, both area and average prices hit a record high sales of commercial property, respectively, over the same growth and 42.1%. At the same time, increasingly active land market transactions, block price "King" and the floor premium, "Wang" even new heights. In 2009, 20 land transfer cities such as Beijing, Shanghai 2008 growth in the total price.

Report shows that in 2009, the national land price and land price floor has seven of the top ten sites block site at top-tier cities. The floor premium top ten plots with an average floor premium reached $ 26,515/square meter, is 1.6 times times the transaction active land market 2007; a single plot of ten blocks in a single block before the contract price median price up to $ 5.9 billion, 2007 32.8%. In the area of residential land price, significantly lower than first-tier cities in second-tier cities.

In addition, in 2009, the national housing sales are mainly concentrated in the cities and some second-tier cities. Shanghai House sales in all the major cities in the lead, at 433 billion yuan, Beijing and Hangzhou second and third, respectively $ 326 billion and $ in sales. Suzhou, Chongqing, Chengdu, Guangzhou, Shenzhen, Tianjin and Nanjing was fourth to tenth.

From the scale of investment, in 2009 the top ten cities are mainly concentrated in the cities and some second-tier cities, but two or three lines of urban growth significantly faster than the first-tier cities. Among them, Beijing, Shanghai, and Chongqing in the top three, development investment of $ 123.9 billion and HK $ 233.8 billion, $ 146.4 billion, respectively. Shenyang, Tianjin, Suzhou, Chengdu, Guangzhou, Wuhan and Hangzhou development investment broken down from fourth to tenth place.

Report finds that, under the current macro-economic environment, housing will continue to be the pursuit of preserving and increasing the value of funds preferred. The next 2-3 years, 40 cities, especially in the cities of Beijing and Shanghai will remain the first choice for investment funds, sales area and sales will remain at a high level, investment in real estate development enterprises has steadily increased. Two or three lines in the city of Tianjin, Chengdu, Shenyang and Hefei cities will become more and more small and medium-sized enterprises of strategic markets.

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Chinese enterprises ranking in the first quarter, evergrande vanke separation area amount first

Real estate companies all scheduled first-quarter results. According to the China real estate information Corporation joint evaluation Center of China real estate real estate sales in the first quarter figures released, hang large, vanke bimodal and mudu Zhi, respectively occupy the number one position in the sales area, the sales amount. Data analysis and display, two or three lines of urban weight increase, become the main battlefield of real estate sales.

1-head battle fierce

Real estate companies leading battle fierce. Yesterday China real estate information Corporation joint real estate Evaluation Center of China jointly issued the 2010 China real estate enterprises, first quarter sales TOP20 charts, from the amount of sales in the first quarter, China vanke to data ranked list first, constant $ 14.5 billion to $ 8.53 billion occupies the second place at Palace examinations, Greentown China occupied with $ 7.87 billion achievements of number three in national civil examinations. From the perspective of sales area, evergrande to 1.295 million square meter pressure wanke took top spot, vanke to 1.18 million square meters to take second, bi Gui Yuan to 1.01 million square metres came in third.

Industry analysis, list of fierce competition in the domestic real estate developers, yuexiu Jinke, capital development, poly real estate, Chongqing and Dalian Wanda ranking top 20 for the first time in Hong Kong. From the statistics, evergrande real estate enterprises to leading position to launch a strong impact, loss of sales area first name also means, vanke advantage has been gradually reduced.

Data show that in the first quarter of this year, evergrande real estate maintains the fast catching up with the momentum. Statistics, evergrande 2009 annual sales amount $ 30.3 billion, sales amount is 3.109 billion yuan in the first quarter of the year. Constant sales reached $ 8.53 billion in the first quarter of this year compared with last year, an increase of 175%.

2-main battlefield of two or three-tier cities

Evergrande real estate layout structure is directly related to the rise. According to regional distribution of China real estate information Corporation first quarter sales statistics, two or three lines the city became the main enterprise sales performance, the top two or three lines of urban housing and enterprise sales weight are greater than ever. To constant, for example, is now moving into 27 cities, which are mostly capital and regional cities. Statistical data show that its first-quarter sales in second-tier cities account for more than 90%.

Currently the real estate companies increase the input of two or three-tier cities. Statistical data show that branches last year 90% poly last year, two or three lines in the city, two or three lines of urban sales surpassed the first-tier cities. BI Gui Yuan in 2009, strong sales growth than other firms, but in 2009 it increased by more than two or three lines of urban investment projects, country garden in the first quarter of this year showed strong growth, sales area into the top three in one fell swoop.

Rapid development of evergrande real estate benefits from the deep two or three lines of urban layout strategy. From the composition of its products, which are high-end products, 70% 10% is in the midrange to high-end products, 20% for holiday products. Demand for its mainstream products are suitable for two or three-tier cities.

In fact, high price of first-tier cities become the focus adjustment, risk increases. And still there is a huge demand in second-tier cities, while real estate prices have not jumped, relatively healthy real estate market. Industry estimates, as the first-tier cities property regulation, second-tier City competition will become more intense.

Fuli Group 3 billion gamble Guangzhou logistics industry, permeate industrial real estate
Through feelings of Moon Lake Tengger

Pick up in demand for stainless steel in China, nickel prices so far this year are up 34%

Since rebounded since bottoming in early November 2008, prices of nonferrous metals rose in 2009, due to strong demand in the lower support, copper, lead and zinc in 2009 to become hot, annual price increases, 122% and 103%, respectively, compared to nickel prices rose only to 42.8%. However, since the beginning of 2010, nickel price rises are quite amazing, a quarter of the "metal Star".

According to the Japanese securities non-ferrous metal industry researcher Wang Huachun introduced, based on the exchange of data, March gains since the beginning of copper, aluminum and Tin, 5.63%, 8.85%, respectively, lead, zinc fell and 11.64%, respectively, but the nickel price strong gains, gains since the beginning of 33.89%. Meanwhile, LME nickel inventories at the beginning of February after the hit record high of 166,000 tonnes above the began to decline, stock down about 6% so far, falling to the lowest level since the end of 2009.

Wang Huachun told reporters, warmer stainless steel demand is the main driver of strong nickel prices rose.

From the terminal of nickel consumption, downstream of the main demands of nickel in stainless steel. Since the first quarter of 2009, global stainless steel production began to rebound, strong rebound in most areas, global stainless steel production at 30.8% per cent in the 4th quarter of the year.

At the national level, stainless steel factory orders in the first quarter of the year is fairly substantial. In 2009, the global stainless steel production of about 24.83 million tonnes, falling for three consecutive years. But with global stainless steel production generally contrast to shrinking is, 2009 China stainless steel crude steel output of 8.8047 million tons, an increase of 26.81%, stainless steel covers global market share has increased from per cent in 2008 to the cent in 2009.

The other hand, the 2009 China stainless steel plant at near-maximum capacity most of the time, only in the fourth quarter, year-end inventory and to control response to the sharp fall in the international prices of nickel, stainless steel production, including main, taigang, baogang steel enterprises in the fourth quarter for a seasonal maintenance and production 15-25% in the third quarter.

According to Macquarie research, due to strong demand in domestic construction and household appliance industry and the gradual restoration of stainless steel prices, the major steel mills in the fast recovery of production and their future a high number of orders a month, mainly because traders and end users in the replenishment, as well as the expected demand in the second quarter would be better.

Wang Huachun think, future years stainless steel needs of recovery will makes 2011 global nickel market continued appears supply gap, on the, currently nickel of marginal cost in 16,000 $/tons upper and lower, this on nickel price up to larger of support role; but, due to currently LUN cross by of nickel high inventory also needed a time to digestive, so, 2010 International Nickel city of trend is may will appears ease of climbing hillside to, is expected to future two years nickel average is expected to respectively reached 20,500 $/tons, and 22,000 dollars/ton.

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Beijing nearly 20 ticket agent for sale of Air France and KLM tickets

For Air France load airlines on April 1 up on China area tickets agent people implemented zero fee, and requirements agent future under different situation, each Zhang tickets to consumer levy 50 Yuan to 700 Yuan service fee of unilateral policy, Beijing area including ctrip, and art Dragon, and in the airlines clothing, and in the green travel, and country travel House zainei of 11 home main air transport sales agent yesterday joint held news media met will, firmly against method load airlines will marketing cost passed on to China consumer, and will Yu today up was forced to sale method load airlines tickets. Beijing agents involved in the sale of nearly 20 per cent of KLM by Beijing's market share of more than 50%.

In early March this year, without consultations with the relevant departments of the Chinese Government and domestic enterprises communicate cases, law informed KLM orally and in electronic text ticket agents around the country: beginning on April 1, 2010, by KLM zero agency fee, and asked the agents under different circumstances in the future, each airline to charge consumers fees of $ 50 to $ 700. Move out immediately subjected to Beijing, Shanghai, Guangzhou, Chengdu and other people in the industry's strong opposition. East China a dozen agents have decided to close on April 1 KLM ticket agent law, Hong Kong, Guangdong, Sichuan, also issued a protest and declared.

Participating Agent believes that once the zero agency fee, consumers purchased by KLM ticket, in addition to the normal ticket costs, you also need to pay an extra amount of no small service fee. Consumers booking costs will be significantly increased, no doubt seriously damages the interests of consumers in China, is very likely to cause consumers dissatisfaction with agent fees.

Regional air transport sales agents Association official said in Beijing, the China Civil Aviation Act explicitly stipulates that "public air transport enterprise operating fees determined by the civil aviation authority under the State Council", by KLM clear conflict with China's laws. In addition, the civil aviation authority of the change management of domestic air transport sales agent fees in a circular way clear, "dark buckle is strictly prohibited any form of sales, not passengers, shippers, the additional service fee will be added", "sales agent an additional service fee will be added, by the departments in charge of prices based on the prices Act and other laws and regulations to investigate. "Accordingly, the future domestic consumers have the right to refuse to pay the air ticket agents to charge a service fee in any form.

In response, Air France KLM public relations department is responsible for the reporters say, zero commissions is a global trend, aviation mode has been changed to agent remuneration for professional services provided under its own charges to cover expenditure, is no different from other services. Charge a service fee of model can bring a higher degree of transparency so that consumers select the services that they are willing to pay. Air France and KLM attached great importance to close business relationships with agents, Air France and KLM reiterated the hope that through dialogue with agents, in a spirit of cooperation to deal with the implementation of a new Commission policy.

But for "zero Commission" trend, the industry generally believe that, agent in China and Europe and different business models, ticket agents in Europe and there are other business, package including hotel, car rental and a series of business and ticket agents of the Chinese business single, source of income only air tickets agency fee income to agents of income over 70%. And foreign airlines to enter the Chinese market, agents and travel agencies to help develop the market, these two parts sales in the total sales of over 50%. KLM by unilaterally force the cancellation fee, require agents charge service fees to consumers, to the present
China's logistics industry-related policy

Inner Zhaojun Tomb

To solve the problem of high prices, the Elimination of balanced development of urban-rural gap in order to cure high prices

Next to first-tier cities in China as a pioneer city Defender, two or three lines marked by high prices, public resentment, of course, but it has to be high or higher have good reasons. On this point, and experts from more than one angle, but I still think with their own personal experiences on the following thoughts.

My hometown was a relative economic backwardness in the central area of town. Author time where senior graduating class, classmates for a total of 40 people. Today, 18 years later, 40 students, in addition to the 18 to stay in his hometown outside the town or County, the other 22 are living in cities, namely: 2 people in Beijing, Shanghai, 1 person, 2 persons in Guangzhou, Shenzhen 9 people, 5 people in Wuhan, Dongguan and 1, 1 person in Wenzhou, Huangzhou 1. 22 student now living in cities, there have been 21 to buy their own homes or villas;, no mortgage or certificate of red in the hands of 10 people, 3 people buying two homes, mortgage repayment of 10 people; 21 people purchase time period from 1993 to 2009, and the reform of Chinese housing commercialization and rising house prices that corresponds to the schedule.

Is particularly interesting is that my former high school classmates, and one rooted hometown is known for the development of village and town enterprises, although the annual salary of more than 100,000 yuan and has a four-story Western-style house, it always has a "urban dreams", in recent years he also began seeking to leave the home, work and home buyers in coastal cities. With the advance of urbanization in China, a large number of new immigrants flocked to the city and the resulting burst of desire for ownership, is the root cause of the city's soaring. In addition to housing functions, also comes with household registration, degree of benefits such as housing, from generation to generation in the rural areas of urban new arrivals are concerned, its appeal far beyond the imagination of many.

In the author's University students, to work to buy earlier, most students was born in rural or town, they particularly value the opportunity to work in the city, the urgent desire for the city to create its own sense of belonging and a sense of identity, and a set of their own city houses, is this the best carrier for a sense of belonging and a sense of identity. The origin country or County College classmates, then when they buy a house down payment, in addition to the small part of his own savings, most of them support from parents and students to borrow. While those young college students living in the city, working in the early years, and lived with his parents, or rent a House, buying a House but not much. 10 years in the past, the origin country or County of University students, has also done for mortgages, life stable and comfortable. And those who had too high house prices did not come to the origin of the city's University students as soon as possible, either forced to follow up later at a higher price to buy, carry more heavy mortgages; either it is still not buying a House, all day long and widening their savings away from the high prices of sighs. More stimulus is, who comes from a rural area or County College classmates, many people started brewing to sell or rent out the original housing, high prices to buy their favorite brave at the moment "to improve housing". 3 years ago, the author who was born in rural University students, class reunion, said the sentence was simply: "in China, the city more population than the House, therefore, strong first-mover advantage. "It now appears that the students said a simple truth.

Rural population mass moved to city, two or three line city residents mass moved to line city, this two species migration of logic power is consistent of: economic development of does not balance, drive is vulnerable geographical of residents to strong geographical mass flow, this led to which of land resources scarce and housing supply relative tension (high sold to, and covered disc be reluctant to sell out or on pour elevating prices are to this for fundamental premise), its prices rose inevitably. But more worrying is that this double in the process of being migrated, due to the price effect, higher prices will reverse driving two or three lines of the first-tier cities urban housing prices higher, thereby creating both pushing each other higher price to each other (while retaining a certain amount of the price drop) a vicious cycle.

Therefore, to completely cure the pain of higher prices in China, fundamental ways of non-balanced development strategy is changed as soon as possible, implement the strategy of balanced development, to eliminate the gap, what gaps as soon as possible, so as to guide the scientific and rational flow of population. Once the gap and gap, and demography of relative balance, higher price problem solved naturally. Of course, it takes a long time, and China's policy makers need to do is: speed balanced development strategy, not to keep people waiting far too long. Is currently promoting the large-scale development of the Western region and the new rural construction, can be seen as balanced development strategy of China in two steps, also achieved some success, but in my view, for the large-scale development of the Western region of China and new countryside construction's policy preferences, investment in capital and talent, is not enough. Expect higher prices caused social pain and change voices, speed force Western development and new rural construction, making an early with the balanced economic development of China's overall well-being, which also includes: say goodbye to high house prices.

Ordos city kangbashi in China was time magazine called it "ghost town"
Aershan Inner Mongolia near the site of the National Forest Park

Ordos city kangbashi in China was time magazine called it ghost town

United States time magazine published a few days ago, Kang Bashi is the best show of China's real estate bubble. Reports, spent 5 years at a cost of more than 5 billion building, covers an area of 32 square kilometres of Inner Mongolia Erdos kangbashi is a luxury city wishing to show off to the outside world, but it also became an uninhabited ' ghost town '.

Ordos city kangbashi was time magazine called it "ghost town", and the local government development policy relevant. Ordos city kangbashi extension is also going to land auctions, bidding, and borrowed capital and developers develop as the body's "old road".

Although the local government invested about $ 5 billion, in fact can also be used for the construction of infrastructure, and most people housing prices because of the relationship between land price and position deviation of urban development, there were "excessive". The Government deliberately "raise" and businessmen under the hype, "has created high housing prices here". Accommodation prices, for example, the constant Hotel 4 star, luxury suite per night $ 1188, single room $ 398. (Universal law is the city of high accommodation prices, prices higher, as some cities in Hainan Province). Shop rent is high. Cannes issue, 3rd floor, family cereals, vegetable shops, more than 90 square meters, the annual rent for $ 100,000 sth

Such a high price, in essence does not reflect the value. Abnormal high house prices are actually fried up with speculators, speculators, and really want to live in old people, in front of high housing prices can only discourage foreign home buyers, in addition, "real", the influx is unlikely to be this "ghost city" to "blank". Therefore, there appeared such a "strange"--old town is nice but rarely traveled by the new city, and "cleaner than the more pedestrian".

This places the blame as the local Government has been extremely embarrassing situation. Lowering prices to attract ordinary people live is no longer possible, the Government will have authority to directly ordered to cut. Real estate business "high high" unless the collapse of commercial housing, cannot take the initiative to drop. Prices do not drop a day, one day will not be attracted to ordinary residents, only from "ghost city" to "ghost town" a vicious circle. However, the "ghost city" phenomenon and a housing bubble there's always bounce on that day, how long it is?

A situation, the Government no longer continues to inject, developers have not received back to sharp increases in costs, local banks ' bad loans crisis, just as it did a few years ago in a city, groups of uncompleted residential flats there, a lot of development of enterprises with bankruptcy. Another possibility is that this bubble will last for a long time, because the local Government has a huge amount of revenue, subsidies and the crisis "to pay". But the cost is the public finances suffer flower is the long-term development of the local resources of all kinds of money and overdraft interest is long-term development and people's livelihood.

Either may be, like kangbashi's "ghost" appears, is not a blessing for the people.

China's new definition for Villa snap up boom, rising property market may not necessarily follow the
Aershan National Forest in Inner Mongolia

2010 new dynamics in the industry in China, companies from big to strong

"Tangshan steel plant has no dust emissions in the region now, past the black smoke, yellow fume can not see, near the residential environment has improved a lot. "Just back from the Tangshan iron and steel company limited research analyst told reporters.

As steel production in province of Hebei province in China, and in recent years has been the increased pace of eliminating backward production capacity. According to statistics, 2009, Tangshan steel, Handan, Hebei iron and steel and Chengde 3 companies consolidated, a total of 354 compression construction project, the squeeze on to invest $ 21.4 billion.

"At present, the Group production capacity is more than 40 million tons, 10% left and right belonging to the State's industrial policy out of the range, can be eliminated in advance before the end is complete. "Hebei iron and steel Group Co Ltd Chairman and President Wang Yifang said. The Group vetoed Xuan steel to invest $ 2 billion, with an annual output of 2 million tons of hot-rolled coil project. Instead, concentrated investment focused on building a total investment of $ 19.3 billion for a large number of industrial upgrading, restructuring projects.

1-the three major measures to accelerate domestic merger and reorganization

"The number of domestic steel mills fragmentation of backward production capacity account for a considerable proportion. Emissions from iron and steel industry is the high energy consumption, high industries, due to the backward production capacity, resource utilization, and lower than in developed countries. "My net information Director Xu xiangchun believes that resolve these contradictions is the main way of merger and reorganization.

Statistics show that enterprises together 11 of 2009 with an annual output of more than 10 million tons, a 2 per cent increase over the previous year; more than 5 million tons of steel production 28 enterprises, representing an increase of 6. Top of Hebei steel, baogang, Wugang, saddle and Sha steel group's total crude steel production of 165 million tons, 29.1% per cent of national output over the same period. But it is far lower than average concentration of iron and steel industry in the world.

Since 2008 the international financial crisis, some countries impose trade protection, making its manufacturing industry in China, and iron and steel industry is undoubtedly the hardest hit. Steel exports slumped badly, national inventories of steel products increased, steel overcapacity.

Last year issued in the iron and steel industry restructuring and revitalization plan, which clearly states that require future "ranked among the top five in iron and steel enterprises in China's production capacity to more than 45% per cent of national".

According to the December 9 last year, the existing production of iron and steel enterprises of the Ministry of public management of the access conditions and management (draft for soliciting opinions), set 6 road barriers for iron and steel enterprises. "This is my first time to access system for iron and steel production industry, eliminating backward production capacity, and operational requirements. "Xu xiangchun pointed out that only" common steel enterprise 2008 crude steel production more than 1 million tons and "this article, near two-thirds, about more than 300 companies in China steel mills have not been met.

Southwest securities steel analyst Liu 喆 believes that future restructuring of the steel industry will be concentrated in three ways:

Is a national key project continues to recommend, to Zhanjiang project to guide the restructuring of steel at Baosteel;

II is an extension of the top domestic large-scale iron and steel enterprises in the restructuring project of right, speed up the progress of project approval and provide policy support, such as Baosteel Group Shanghai Branch to provide $ 800 million three-year merger and acquisition loans for acquisition of Baosteel Group Ningbo iron and steel;

Third, for violation of item, if in other respects meet the standard can be implemented by other large-scale iron and steel enterprises merger after post approval procedures, namely violations project if the environmental protection requirements, access to equipment, in line with standard, by the merger of large iron and steel group, and are not limited by the project is legitimate.

2-step "going out" equity participation in overseas mines

"In recent years, large swings in the prices of raw materials, but in the long run, are rendered obvious upward trend. "Liu 喆 thinks. "As the middle reaches of the upper reaches of the steel manufacturers had to bear the price increases of raw materials requirements by extending upwards to a vertical extension of the mining part of the raw materials, you can implement effective control of production costs. ”

As the world's largest importer of iron ore in China, accounting for more than half of the volume of world trade. But in the negotiation of iron ore is often in a passive, having to put up with Rio Tinto and BHP Billiton, Vale of three international iron ore giant "ask an exorbitant price."

Since the second half of 2009, with the gradual recovery of the world steel industry, rapid increase in iron ore prices. Up to now, 2010 India 63.5% powder ore spot price rose to $/ton. Today, the new round of iron ore negotiations are under way, but the will of the huge gap between the two sides is still obvious, and the iron ore Giants attitude is extremely tough. According to Vale and Japan Nippon Steel fiscal year 2010 second quarter 2009 iron ore price agreement of price 90%, Rio Tinto and BHP Billiton made a long ore price increase of temporary settlement 40%, a grim challenge to China's iron and steel industry.

"China's iron and steel enterprises want to get rid of people ' strangle hold ' fate, must go. Soaring prices of imported iron ore, was overwhelmed by us, do not go out, there is no way out. "President of the China iron and steel Association, Wuhan steel General Manager Deng Qilin said.

According to the Ministry of land and resources prepared by the last year on promoting overseas geological surveys and mineral resources exploration work in a number of opinions, to actively and steadily carry out the mineral resources "going out" strategy to support increased offshore prospecting as an important content.

"Metallurgical raw materials of domestic iron and steel enterprises through directly to the resource industry extends control of resources such as iron ore, coal, some stainless steel enterprises is extended to some non-ferrous metals such as nickel, chromium. Seen from the extension means, including building their own mine, a joint venture to buy shares, purchase of assets, such as forms, some domestic steel enterprises go out of the country, should select equity participation in overseas mines is the trend. "Liu 喆 said.

Following the Hunan Valin steel group bought Australia after becoming its second largest shareholder of FMG17% shares, Wuhan steel Group acquired recently Brazil iron ore resource of the EBX Group equity success, the Chinese iron and steel enterprises to go is first of its kind.

"That means not only miners in China power enhancements, and mature in the going out and, more importantly, is to break the monopoly, enhanced foreign iron ore giant future voice in the negotiation of iron ore, the initiative is of great significance. "Xu xiangchun pointed out.

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Regal ATV stake purchase health setbacks, the Hong Kong Government to request the services of Hong Kong people

Regal Wang Zheng announced earlier high profile master Hong Kong ATV, and issued the ATV into a "CNN Asia" Tag Heuer, but reasonable, twists and turns of the ATV, the right to control whether the smooth transition, there is still an undercurrent.

Hong Kong Broadcasting Authority (hereinafter referred to as the Broadcasting Authority) has recently officially sent a letter to ATV, required ATV to explain its shareholder structure, as well as investment plans. According to Hong Kong media reports, in addition to the BA's concern, ATV ownership structure are still unclear. Wang Zheng had planned to ATV to Mr CHAN Wing-kee, Mr Liu purchased shares of minority shareholders, but the source said Wang Zheng did not complete before the deadline for payment transactions.

Wang Zheng into ATV "CNN Asia", as well as the development of a national channel in Mandarin, BA said this concern. BA reminded ATV, when asked to approve changes to the Council, to hand in the attached file, proof ATV programmes broadcast in the future, continues to service the Hong Kong audience.

ATV had earlier notified the BA, Cheng Pinru has become the Executive Director of ATV. In this regard, BA points out that Cheng Pinru Wang Zheng and identified by media as there is a close relationship, if the report is true, does it mean that the Wang Zheng had control ATV?

According to available information, Wang Zheng of members of the fourth generation of the first giants of modern Shanghai sheng's family, the "father of modern industry in China" Sheng Xuanhuai great-grandsons, Hai Rong Feng holding, Chairman of the group.

Since ATV two major shareholders Cha Maosheng, Taiwan want want holdings Chairman CAI yanming feud, even after you have been fighting over the ATV control matter become a topic of public concern in Hong Kong. Cha Maosheng ATV "entrust an orphan to" Wang Zheng, Wang Zheng's identity in a new major shareholders, released to the media into a ATV Asia "CNN" plan, and indicated that the next 20 years, will invest more than $ 2 billion in the ATV World. BA this require the ATV to submit documents to prove that the new shareholders will honour the commitments mentioned above.

Cha Maosheng celebrity Cha Chi Ming of Hong Kong's eldest son, is also the Chairman of HKR International Group. HKR International Group plan in the development project in Jing an district, Shanghai.

Main force seeking luxury consumption in China
China's third largest Tianchi - Inner Aershan Tianchi

Air France and KLM flight were Chinese agents ban, ctrip Air France against

Main ticket sales agents in Beijing and Shanghai have sale, Guangzhou agent had no action.

Air France, KLM "zero Commission" that was on the first day of "ban". Yesterday afternoon, the main air transport sales agents in Beijing held media briefings while participating in practice against Air France agents, signed from now on sale of Air France ticket agreement.

Since yesterday, Air France, KLM will be zero agency fee, and asked the agents under different circumstances in the future, to the consumers charged service fee per ticket. In this regard, main air transport sales agents in Beijing yesterday afternoon held news media emergency meeting, strongly opposed by KLM marketing costs passed on to consumers.

1-c-Air France against

Beijing air transport sales agents Association Secretary General told reporters, major ticket sales agents had signed an agreement in Beijing, starting today will no longer sell of Air France, KLM ticket. In Shanghai more than more than 20 ticket sales agent agreement has been signed, since yesterday is no longer selling Air France, KLM ticket.

Passenger travel Wan Yijian, Chairman telling reporters, there is no ticket agent in Guangzhou joint "ban" message for Air France, estimated at the tiller.

Reporters saw, ban Air France, KLM agents are entry-level, such as ctrip. Yesterday, ctrip about said when interviewed by this reporter, "we do not sale of Air France and KLM airline has three reasons, first is contrary to the existing law; the second is the lack of harmonized standards; a third is the ticket agents in the use of navigation systems do not support the charging of service fees, agents would like to receive hard. ”

2-Association support agents are not selling tickets

General 80% airline tickets are sold through ticket agents, direct sales only account for the ratio of 20%, therefore, the major ticket agents held up "ban", will have a great impact on Air France, KLM.

"Not Air France tickets are selling corporate behavior, like Air France does not pay Commission to them, so we have no right to interfere," yesterday, Secretary General of the Association of air transport sales agents in Beijing said, "we had negotiations on association with Air France 2, they insisted on, we can only express our regret. ”

3-press Watch: another "climate sickness"

Airline ticket agent chain has long been entrenched in the interest of every help airlines sold tickets, airlines will be in accordance with the "3+X", or a fixed rebate of Commission return to the ticket agent, ticket agent point around the streets all on this "meal".

Although "zero Commission" already quite common in foreign countries, overseas ticket agency began to switch to charge service fees as the main source of profits. But China air ticket agents still will not change in the near future "Commission" method of the profit model. Air France, KLM to force the set at the start of the abroad are clearly not agreeing.

Control 80% ticket market ticket agents in China, "tianbupa, and fearless", even air the crocodiles, used to be the South China air ticket agents working together to "ban", not to mention a only a small market share in Air France airlines? Therefore, Air France, KLM can "ask for the humiliation".

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