Quota rise is next step for yuan to go global

THE decision by China’s securities regulator to increase quotas for foreign funds investing in yuan-denominated shares is viewed as the next step in the process of transformingcheap wholesale jewelry the yuan into an international currency.

Foreign funds are allowed to invest in domestic stock and bond markets under two programs: the Qualified Foreign Institutional Investors program allows investors to convert US dollars into yuan for investment in local markets. The Renminbi Qualified Foreign Institutional Investors program allows funds to invest yuan they have accumulated in Hong Kong.

The China Securities Regulatory Commission announced on Tuesday night that the quota for the QFII program has been increased by US$50 billion to US$80 billion. The quota jewelry storesfor RQFII more than doubled from 20 billion yuan (US$3.17 billion) to 50 billion yuan.

Internationalize the yuan

Raising the quotas are “unambiguous signals of China’s intent to attract more offshore investors and a sign that market investments will play a key role in the government’s plan to internationalize the renminbi discount fashion jewelry(yuan),” business consultancy Z-Ben Advisors commented in a report.

The additional 360 billion yuan of new funds may provide a big boost for China’s capital markets, which haven’t been performing well since 2009. China’s stock markets yesterday posted their biggest daily increases since February on the quota news.

Launched in December 2011, RQFII requires that 80 percent of the program’s quota be invested in bond markets, with the remainder to go into stocks. So far 21 institutions have been approved to operate under the program.

However, the new investment channel has notjewelry wholesale proven all that popular with foreign investors. Only about half of the original quota has been invested so far, according to Chinese media reports.

Analysts blame the underdeveloped status of China’s bond market, which is small, opaque and offers low returns.

Zhao Chengmin exposition debuts in Beijing

After 35 years of silence, sculptor and artist Zhao Chengmin returned to the stage on April 4 with his masterpieces of great passion.

An exhibition of Zhao Chengmin’s sculpture art was unveiled at the National Art Museum of China (NAMOC) on Wednesday in Beijing and will run until April 24.

More than 50 large-scale sculpture pieces surrounding the theme “Qi, Wu, He (meaning spiritual energy, enlightenment and harmonious respectively) —My Dream of a Powerful Nation” are on display in two offashion jewelry wholesale the museum’s exhibition halls.

The exhibition consists of three parts: “Qi, Wu and He”. Sculptures of war horses and generals in ancient times are on show in the “Qi” part, whereas the “Wu” part displays a group of figures, showing how emperors of the Qing Dynasty (1636-1911) inspected their troops. The third part, that of “He”, exhibits Zhao’s works created with both Chinese and western conceptions of art.

The exhibition is Zhao’s first one in his 35 years since leaving the prestigious China Central Academycheap silver jewelryof Fine Arts as a postgraduate in 1978.

Zhao said “this exhibition aims at presenting gifts to my college and offering a sincere academic report to my professors and various masters who are all devoted to the creation of art”.

As a famous sculptor, calligrapher and painter in China, Zhao said that his worksjewelry wholesale embody genuine patriotism and, in addition to that, the hopes to make his homeland a country with a powerful culture.

According to the museum, all pieces at the exhibition fashion jewelleryare on display for the first time.

Wen urges breakup of bank monopoly

This was the first time that China acknowledged the monopoly of state-owned banks following last month’s announcement of a pilot project to reform the financial sector in Wenzhou, an eastern wholesale jewelry from chinacoastal city with a tradition of entrepreneurship.

Wen made his remarks during a visit, from April 1-3, to companies in Fujian Province and the Guangxi Zhuang Autonomous Region.

Economists have long complained about a lack of progress in reform of the state-dominated banking and financial industry and of inadequate service for the country’s large number of small and medium-sized enterprises.

In the latest session of thejewelry wholesaler National People’s Congress some lawmakers painted the banking sector as an “industry of windfall profits”.

“Regarding raising funds for your businesses, I think it has been too easy, quite frankly, for our banks to make profits,” Wen told businessmen during his visit.

“The reason is that a small number of large banks are in a monopolistic position. It is only from wholesale fashion jewellerythem, and nowhere else, that companies get the loans they need.

“This is why we’ve now come to make way for private capital to enter the financial services sector, which ultimately requires breaking monopolies. There is already a consensus among the central leadership, which is reflected, as you can see, by the pilot reform in Wenzhou.

“I think some successful wholesale jewelrypractices from Wenzhou’s pilot reform can be introduced nationally. Some of the practices may even be immediately implemented,” the premier said.

The Wenzhou reform was announced by a State Council executive meeting on March 28. It allows private financial services, including setting up village banks and rural financial cooperatives.

UNSC urges Syria to comply with ceasefire deadline

“The Security Council calls upon the Syrian government to implement urgently and visibly its commitment “to cease troop movements towards population centres, to cease all use of heavy weapons in such centres, and to begin pullback of military concentrations in and around population centres, and to fulfil these in their entirety by no later than 10 April 2012,” the statement said.

The statement called on all parties to end the fighting within 48 hours of those actions.

“The Security Council further calls upon the opposition to engage with the Envoy (Annan) in this regard,” the statement said.

“The Security Council reiterates its call for the Syrian authorities to allow immediate, full and unimpeded access of humanitarian personnel to al populations in need of assistance, in accordance with international law and guiding principles of humanitarian assistance,” the statement said.

“The Security Council calls upon all parties in Syria, in particular the Syrian authorities, to cooperate fully with the United Nations and relevant humanitarian organizations to facilitate the provision of humanitarian assistance,” the statement said.

“To this end, the Security jewelry shopCouncil calls on all parties to immediately implement a daily two-hour humanitarian pause as called for in the Envoy’s six-point proposal,” it said.

The presidential statement, the third of its kind since the outbreak of the Syrian crisis in March last year, was drafted by the United States in cooperation with Britain, France and Germany, diplomats said.

A presidential statement, adopted by consensus, is not legally binding, and does not carry the weightjewelry stores of a Security Council resolution. The adoption of a council resolution requires at least nine votes in favor and no vetoes from the fivechina jewelry wholesalepermanent members of the 15-nation council — Britain, China, France, Russia and the United States.

The special envoy Annan also called on the the Syrian Government and opposition forces to cease violence by Thursday, 12 April, when briefing an informal meeting of the General Assembly in New York on Thursday.

“Upon completion by the Government of its commitments by Tuesday, 10 April, all parties should move immediately to cease all forms of violence, so that a complete cessation is in placecheap wholesale jewelry by 0600 hours Damascus time on Thursday, 12 April,” said Mr. Annan in a briefing, by video-link from Geneva, to an informal meeting of the General Assembly in New York.

Higher margin and fees boost BoCom’s earnings

THE BANK of Communications, China’s fifth-largest bank, yesterday posted a 30 fashion jewelry wholesalepercent jump in 2011 net profit from the previous year on higher loan margin and fee income.

The net earnings for the Shanghai-based lender rose to 50.74 billion yuan (US$8.02 billion) last year on a wider interest margin of 2.49 percent, 0.1 percentage point up fromwholesale crystal jewelrya year earlier. The net interest income rose 21 percent to 102.6 billion yuan.

Its total outstanding loans were 2.56 trillion yuan by the end of 2011, and the bank lent 325 billion yuan in new loans.

Its fees and commissions from services, including credit cards, trade finance and custodial services, surged 35 percent annually to 19.6 billion yuan.

The bank’s fourth-quarter profit rose a quarterly 5.89 percent to 12.59 billion yuan, according to calculations fashion earringsderived from its full-year and third-quarter reports.

BoCom’s non-performing loan balance fell from 25 billion yuan in 2010 to 22 billion yuan last year, and its NPL ratio shed 0.26 percentage point to 0.86 percent.

The lender issued a 26 billionjewelry manufacturers yuan subordinated debt in October and said early this month that it plans to raise 56.6 billion yuan through a private placement of H shares for capital replenishment.

Tibet marks emancipation of serfs

Residents of southwest China’s Tibet autonomous region on Wednesday marked the emancipation of fashion jewelry wholesale1 million serfs when the theocratic rule in Tibet was abolished in 1959.

Thousands of people gathered in Potala Square in the Tibetan capital of Lhasa in the morning. Local residents, monks, students and soldiers sang the national anthem as they watched the wholesale crystal jewelryred flag of the People’s Republic of China rise before the imposing Potala Palace.

Authorities designated March 28 as the day to commemorate the 1959 democratic reform in Tibet, which ended the feudal serf system, freeing about 1 million Tibetan, over 90 percent of the region’s population at the time, from a life of serfdom.

“I feel excited about the day,” said Nyma Choling, 68, who added that he was born a serf and, and without the abolishment of serfdom, he would not be able to enjoy the good life he has today.

Government officials said that after the democratic reform, Tibet has achieved all-around economic and social growth and people from all ethnic groups in Tibet benefit from the reform.

“Over the past 53 years, marvelous changes have taken place in Tibet. History has proven that today’s Tibet would notfashion earrings exist without the leadership of the Communist Party of China (CPC),” said Lhasa’s top official Qizala, secretary of the CPC Lhasa municipal committee.

Lhasa topped an annual ranking of resident satisfaction among Chinese cities conducted by National Statistics Bureau over the past three years.

Dorje Tsedrup, mayor of Lhasa, said people felt satisfied due to big social and economic changes, continuousjewelry manufacturers favorable policies rolled out by the central government, and less pollution and ecological damage associated with the development.

China to launch pilot financial reforms in Wenzhou

China’s State Council announced Wednesday that Wenzhou of East China’s Zhejiang province has been approved for a financial pilot project which will allow the city’s residents to make directcheap jewelry offshore investments and set up local companies.

The long-awaited decision was made at a State Council executive meeting presided over by Premier Wen Jiabao and at a time when underground financing activities in Wenzhou have stirred up financial disputes and crime and wholesale fashion jewelrythreatened financial and economic stability.

The pilot project will effectively sort out Wenzhou’s problems and make financing serve the real economy are not only important for the healthy development of Wenzhou, but also of great pioneering significance for financial reform and economic development throughout the nation, said a statement released after the executive meeting.

The pilot program will include 12 major tasks, including setting up a file management system for private financing and improvements to the fund monitoring system, encouraging participation of private capital in the shape china jewelry wholesaleof setting up or taking shares of the rural banks and credit companies, and guiding private funds toward the establishment of venture capital and private equity activities as well as other types of investment bodies.

Also, the government will encourage qualified state-owned banks and share-holding banks to set up special units to deal with credit grants to small enterprises.

The government vowed to encouragejewelry shop the establishment of financial leasing enterprises that serve small and micro enterprises as well as sectors concerning farmers, agriculture and the city’s rural areas.

Significant increase in homes for sale

MORE than 500 units at seven residential projects in Shanghai are set to be released over the weekend, a notable increase from the 220 units at four developments that were launched over the two days a weekjewelry stores earlier, according to research released yesterday by Soufun.com.

The five apartment projects - in districts of Baoshan, Jiading, Songjiang and Pudong New Area - will be sold at between 13,000 yuan (US$2,053) and 21,000discount fashion jewelry yuan per square meter, Soufun said.

The units at one villa development in Jiading by Longfor Properties cost between 7 million and 14 million yuan each. Some units at a mid-to-high-end villa project near Shenshan Hill in Songjiang, jointly developed by China Vanke and China Merchants Property Development, will be sold at a maximum discount of 40 percent on Saturday, one of the biggest price cuts offered in this segment of the market in the city, said Tang Zhengwei, a Soufun analyst.

“More developers of mid-to-high-end homes are trying to offer more reasonable prices to buyers to reap better sales amid an overall recovery in the sector, which has been one of the most severely affected by governmentcheap silver jewelry austerity measures,” Tang said.

Royal Park, a mid-to-high-end residential project sold nearly 150 apartments over the past few months despite an average price of about 38,000 yuan per squarejewelry wholesale meter, proving that demand for homes in this segment is also picking up, China Real Estate Information Corp said yesterday.

Outrage over suicide of Moroccan teen forced to marry rapist

A minister in Morocco’s Islamist government on Thursday called for a change to a law allowing a rapist to marry his victimfashion jewelry after a 16-year-old teenager forced into such a union committed suicide.

Bassima Hakkaoui, Minister for Women and Families and the only woman in the cabinet, called for a debate to reform the law, in comments to state television channel 2M.

Her predecessor in the post Nouzha Skalli also declared herself shocked by the affair and called for the law to becheap jewelry changed.

Amina al-Filali, 16, drank rat poison last week in Larache, near Tangiers in the north, after being forced to marry the man who raped her.

He had sought to escape prison by invokingwholesale fashion jewelry an article of the penal code that authorises the rapist to marry to escape prosecution.

This is something to which the families of such victims often agree because the loss of a woman’s virginity outside of marriage is considered a dishonour to her family.

Filali’s funeral took place Sunday in the northern town of Larache.

On Thursday, 300 protesters staged a sit-in outside the local court that had approved the marriage, a demonstration organised by Morocco’s Democratic League for Women’s Rights.

It was the League that publicised Filalai’s suicide as part of its campaign against the law.

On Wednesday the League’s president Fouzia Assouli condemned the relevant article of the law, saying that china jewelry wholesalewhile it ostensibly defended family values it did not uphold the rights of women.

“The law treats the raped minor like a criminal even if she was the victim of violence,” Skalli told 2M television during an extended programme on the affair.

“We have to reform the criminal code to adapt to the new constitution, which forbids violence against women and ensures the equality of the sexes.”

The affair has also provoked an explosion of outrage in the news media and on the Internet. Activists have set up an online petition calling for the law to be changed, which within hours attracted hundreds of signatures.

Under Moroccan law, rape is punishable by five to 10 years in prison — or between 10 and 20 years if the victim is a minor.

ROK ship sued over Yangtze toxic spill

A Republic of Korean (ROK) ship is being sued over a chemical spill that partially contaminated a source of drinking water in the Zhenjiang city section of the Yangtze River, the local government confirmed onwholesale jewelry supplies Wednesday.

The Zhenjiang tap water company has submitted that the spill was caused by a ROK registered ship to the Wuhan Maritime Court, which has the jurisdiction over the discount fashion jewelryregion, said authorities with the Zhenjiang government.

The government of Zhenjiang confirmed that on Feb. 3 phenol levels collected in water samples were excessive. The pollution caused tap water in some parts of the city to emit a pungent smell, sending panickedcheap jewellery residents to stockpile bottled water from supermarkets.

An investigation by Zhenjiang authorities found that the ROK registered cargo ship Gloria probably caused the chemical spill.

On Feb. 10, Wuhan Maritime Court ordered the Gloria to held in the docks of Nantong city and could only be released if its owner paid 20.6 million yuan (3.3 million U.S. dollars) to the court.

Phenol, also known as carbolicfashion jewelry shop acid, is an organic compound that can irritate eyes and skin. Soluble in water, if absorbed in large amounts it can damage liver and kidney.