Shenzhen won the bid to host the 2011 Summer Universiade
3 am today, Shenzhen won the first right to host the 26th World University Games in Turin, Italy came from the good news, many people cheered in Shenzhen, cut sleepless nights, the rain running after another let me know, with different ways of expressing joy, so that our young city full of this joy.
clear when the satellite signal screen came FISU President Ji Lian announced that 2011 World University Summer Games host city is Shenzhen, thunderous applause throughout the performance hall, hugging avalanche of applause. the audience through radio and television to hear Guangdong Governor Huang Hua Hua, Shenzhen Mayor Xu excited speech, speech being full of tears.
Shenzhen won the first 26 right to host the World University Games, party secretary Li Hongzhong showing a bright smile, and made a warm speech. He said young people younger event held in the city, and finally from the ideal into a reality. He said that in this exciting moment, we are proud of our great motherland, the great achievements of reform and opening up proud for such a young city and the lovely people of this city proud. Shenzhen will not live up to the choice of FISU.
Thursday, December 30, 2010
Wednesday, December 29, 2010
Han prayer will be recorded - actually coincide life workplace gossip (9)
Ninety-three: hold a good job
ninety-three refers to the third root Qian Yang Yao, ; Li , at risk. as long as the image of a gentleman to deal with this situation, during the day to self-improvement, but also act cautiously vigilant at night, so, even if the risk, you can avoid mistakes.
from here, Ti Lung The reason why Ti is due to lack of potential, so will be wronged and injustice, then complain about not only useless, or even come to naught. but by rational thinking, so that the upper ranks who think, read the boss at the same time, the first sense to do Run a few horses grazing can also create impossible to achieve results, not only to secure good jobs, better for the next phase of the , but also can Han east of the base, so that Han Xin initially demonstrated its military prowess, but is not followed by triumph, but a period of lackluster, almost nothing to do.
cold Han Xin to Liu Bang Han felt wronged and confused. Han also started to complain about the natural, however, a long time This is very scary in terms of Han Xin. To understand why do this to ourselves Liu, Han started to pay attention the boss's every move.
success after winning the Guanzhong, Liu hopes to see the east, are suddenly the desire to defeat Xiang Yu between the expansion up. are exactly at this time, Liu Bang got a great opportunity mm grandson of Emperor Yi Xiang Yu assassinated. So, Liu seize this opportunity to avenge the name of God under the banner of righteousness, be of dysfunction assistance, joint resolution against Xiang Yu.
first, Liu Bang very well, riding on the attack Qi Xiang Yu and tangled, it is very easy to hit the capital city of Xiang Yu Pengcheng mm. But to sit in the Liu Xiang Yu chair when the dreams of the King, Xiang Yu killed suddenly back. Liu was beaten a hasty retreat, all the way to race back Xingyang.
At this point, of dysfunction both ways, then flew away from Liu Bang, Xiang Yu had defected to .
Liu suddenly dropped back from the dream reality, and quickly found themselves faced with Han Xin Xiang Yu, the former thanks to the familiar feeling of the time.
all Han is within sight, he quickly learned to stand on the boss Liu's point of view the problem. Han understand that deep down, the military commander of Liu Bang did have considerable expectations. when you think the opportunity comes, he will personally set off to prove his military skills. In other words, as long as Liu did not give up this dream, Han difficult to obtain from him a real military power. This is the reason for doing nothing Han Xin. When understood this, to no longer complain that Han Xin tired.
complain about their lost due to The great general position is not easy, it is better to help employers understand the facts, change their views, to gain more and greater opportunities. So Han Xin mm silent action began restructuring the armed forces to help Liu Bang, Xiang Yu, to resist the invading.
Han immediate action to let the boss induction.
Along the way, where are Liu Bang, Xiang Yu to kill where, out of Liu Bang find any. but one of Xing Yang, Liu immediately see hope, feeling a sudden from hell back to the earth. because Han is here. And so Liu puzzling is why he and lax discipline in war, one to the hands of Han Xin, immediately become orderly? and, seeing the past crazy Chu, Ying Yang on how one can become so general, and actually there are several war also directly Han defeated, had to rally down with the Han.
this short period of time, Liu Bang, the movie-like from went to heaven to hell, and quickly fell from the heaven to hell, then there's a false alarm. Liu Bang finally reluctant indeed not aware of their genius, garrison war, military strategy is far less than men in this Maoxiao Zi Han.
One day, Han Xin, Liu asks: the time required in the attack order, and more importantly, when the withdrawal order. Zhang Han in the attack, I have specially trained in evacuation and transmission of information gathered when the army approach. So, when the army retreated to the Ying Yang, I They will be able to quickly gather, re-order, into battle.
At this point, although Liu Ying Yang temporarily stabilize the foot, but of dysfunction have been playing their own small thinking. 204 BC, the king and the leopard to the ground dying parents, leave their hometowns. he got to the Wei States must immediately destroy the Yellow River crossing, openly put up the banner of anti-Han Chu help.
famous Bang sent its lobbyists to persuade Li Shi Wei Bao Guixiang, he was turned down. Liu Bang was furious, command to wipe out shuaibing Wei Bao Han Xin.
2. reassert their skills and enhance the status of
to the Han Liu Bang despite three fifty thousand troops, and counterparties rather, it is a very difficult task.
Geographically, the North and Zhao Wei, on behalf of the two-phase, natural barrier to the west of the Yellow River barrier, Wei Guoan Yap is an important strategic location east of the river. Once Gong Wei Han, Wei Zhao is likely to connect quickly and on behalf of the States to jointly resist. that Zhao Wei took the backing of the north and west along the Yellow River based on the importance of the ferry and to Yasumura as command centers, we can firmly guards along the Yellow River, to prevent cross the river Han. From the geographical point of view, Shou-Wei Yi difficult to attack, dominant.
In this case, hatred and Han Wei Jun fight a protracted war, caused the collapse of Han; and from the Han perspective, it is desirable that a quick fix, Wei Jun surprise to Jones's command center mm Yasumura.
So Han Xin shuaibing proceed straight to the Yellow River guarding Yao Jin Wei Jun Jin mm linjin.
to linjin Han Xin Jin, and chose to camp, high-profile time for troops to do deliberate vessel, so that the opposite Wei Jun Jin of the Han to storm linjin convinced. secret agents posing as detectors are sent upstream situation. Soon exploration soldiers return, the opposite is almost always a lot of Yao Jin Wei Bing bank guard, but in the upper reaches of the summer sun, as too close to the vessel less inconvenience to cross the river, so little guarded Wei Bing, garrison empty.
Han and Guan Ying Tsao immediately ordered a lot of the large wooden vase made raft. day evening, Han suddenly the Troops. leaving thousands of troops and horses , to the Guan Ying, and stressed that emergency line, to Hsia. one to Hsia, immediately brought a large wooden raft into the river in the vase, each vase carrying two or three soldiers, a well-cross the river without overturning. soldiers in the vase, the use of armed paddling water, natural too River. two or three million troops under cover of night to sneak into the Yellow River mouth surprise summer.
then, Han army Youyi lightning speed from the rear side of the raid linjin and defeat Wei Jun Dongzhang areas, attack points the need to place Yasumura.
Han Xin, this series of raids, so the king and the generals Park straight off guard, forced to transfer troops hurriedly to save critical eup, leading to the main army of travel back and forth, constantly on the run.
Han Army attack accounted for Anyi, immediately Youxiang Osaka from north of the Wei Jun Po attack. armies Yasumura played against Southwest. Han Tsao Department of attack from the front, Guanying cavalry surrounded the sideswipe. Jun Wei Tsao quickly defeated infantry, cavalry also Guan Ying hit by scattered, Wei Jun gradually into a siege. Wei Xiang captured the king, the king leopard rate defeated the East to go Quyang, was again broken up, Wei Bao fled Higashigaki (now Hill Shitan song) by Han Suoqin, Wei Jun annihilated.
Yasumura war is Han's second classic examples. By this victory, he not only captured the king, put down the Wei land, let off the threat of a sudden lift in the dorsal, actually lifted Liu to worry about, so that it can concentrate on fighting the forces of Chu. This leaves Han Han Xin in the initial set up his military position.
3. read boss, complaining about
Han radical away from the grievances of out, but this process there is a problem it is necessary to analyze: why the reluctance to military power to the Han Liu Bang?
the answer to Liu Bang who want to go, because we have the flow line, and this stage potential mainly in the boss, if the boss is not inclined to chance, then we have to be Wu place, in addition to the military commander of the dream of Liu Bang made for personal reasons, they also need the background from the era of big deeper to determine.
the background was large, like a lion (Xiang Yu) and between a group of dogs struggle. which have a relatively strong dog (Bang), the occasional call of his hunting dogs to form a large group, take the initiative to attack the lion. When the lion angry when any one of the dogs can not match it, so get a group of dogs were driven apart. the entire battlefield is everywhere, a group of dogs harassing the lion, but can not beat him, but confused the lion mania endless.
for Liu Bang, the first key problem is that he became a group of dogs The stands out, and now the lion has been locked in, and is tightly pushed to Xing Yang. In this moment, a big military power will definitely not be easily lost, or there is fear for their lives immediately.
a second a terrible problem in this moment, no one, no matter turned out to be officers and soldiers, or even just a bandit, as long as have the military power, it is likely to become an independent dogs. tetrarch of dysfunction by Xiang Yu has actually Xiang Yu did not fully listen to the (meaning is clear, do not have repeatedly said, not to mention just said above, an attack him. In this case, Liu mind very clear, Han's military power must be concentrated into their own hands, no one can have a slightly larger military power, especially as Han did so with large-scale military generals, not only military power can not be easily given, it must strictly control the scale of his troops, otherwise, no end of trouble.
In this case, the Han period of time without military power is normal thing. And if Han Xin had at this time more demonstration of complaints expressed dissatisfaction and contempt of Liu Bang, then the great general position with great difficulty be afraid to immediately lose out.
So why Han has got a chance? In addition to Liu Bang, broken dream, but also A more important reason: a dog attached to Liu's (the king and Leopard) actually rebels, left him. This is a terrible thing to not to give a little color, a warning shot, Liu Bang's troubles will be greater. So, to Han Xin small (less that he is not a separate hunting dogs) and forces the dog to pick up only mutiny.
read the boss is complaining about the medicine cure
First, read the boss, is to find the root cause of the means necessary. only to read the boss can understand why by the had complained that disease, many people are and more, eventually directly affect their behavior, resulting in the loss of good jobs.
Second, read the boss, the treatment complained of medicine. because once we understand the boss, you'll be able to figure out how to get a chance, to find the right way to hold a good job. to wait or even create the opportunity for more and better opportunities.
reality, gives us a are for the is an effective means of radical complain, or even the only means.
ninety-three refers to the third root Qian Yang Yao, ; Li , at risk. as long as the image of a gentleman to deal with this situation, during the day to self-improvement, but also act cautiously vigilant at night, so, even if the risk, you can avoid mistakes.
from here, Ti Lung The reason why Ti is due to lack of potential, so will be wronged and injustice, then complain about not only useless, or even come to naught. but by rational thinking, so that the upper ranks who think, read the boss at the same time, the first sense to do Run a few horses grazing can also create impossible to achieve results, not only to secure good jobs, better for the next phase of the , but also can Han east of the base, so that Han Xin initially demonstrated its military prowess, but is not followed by triumph, but a period of lackluster, almost nothing to do.
cold Han Xin to Liu Bang Han felt wronged and confused. Han also started to complain about the natural, however, a long time This is very scary in terms of Han Xin. To understand why do this to ourselves Liu, Han started to pay attention the boss's every move.
success after winning the Guanzhong, Liu hopes to see the east, are suddenly the desire to defeat Xiang Yu between the expansion up. are exactly at this time, Liu Bang got a great opportunity mm grandson of Emperor Yi Xiang Yu assassinated. So, Liu seize this opportunity to avenge the name of God under the banner of righteousness, be of dysfunction assistance, joint resolution against Xiang Yu.
first, Liu Bang very well, riding on the attack Qi Xiang Yu and tangled, it is very easy to hit the capital city of Xiang Yu Pengcheng mm. But to sit in the Liu Xiang Yu chair when the dreams of the King, Xiang Yu killed suddenly back. Liu was beaten a hasty retreat, all the way to race back Xingyang.
At this point, of dysfunction both ways, then flew away from Liu Bang, Xiang Yu had defected to .
Liu suddenly dropped back from the dream reality, and quickly found themselves faced with Han Xin Xiang Yu, the former thanks to the familiar feeling of the time.
all Han is within sight, he quickly learned to stand on the boss Liu's point of view the problem. Han understand that deep down, the military commander of Liu Bang did have considerable expectations. when you think the opportunity comes, he will personally set off to prove his military skills. In other words, as long as Liu did not give up this dream, Han difficult to obtain from him a real military power. This is the reason for doing nothing Han Xin. When understood this, to no longer complain that Han Xin tired.
complain about their lost due to The great general position is not easy, it is better to help employers understand the facts, change their views, to gain more and greater opportunities. So Han Xin mm silent action began restructuring the armed forces to help Liu Bang, Xiang Yu, to resist the invading.
Han immediate action to let the boss induction.
Along the way, where are Liu Bang, Xiang Yu to kill where, out of Liu Bang find any. but one of Xing Yang, Liu immediately see hope, feeling a sudden from hell back to the earth. because Han is here. And so Liu puzzling is why he and lax discipline in war, one to the hands of Han Xin, immediately become orderly? and, seeing the past crazy Chu, Ying Yang on how one can become so general, and actually there are several war also directly Han defeated, had to rally down with the Han.
this short period of time, Liu Bang, the movie-like from went to heaven to hell, and quickly fell from the heaven to hell, then there's a false alarm. Liu Bang finally reluctant indeed not aware of their genius, garrison war, military strategy is far less than men in this Maoxiao Zi Han.
One day, Han Xin, Liu asks: the time required in the attack order, and more importantly, when the withdrawal order. Zhang Han in the attack, I have specially trained in evacuation and transmission of information gathered when the army approach. So, when the army retreated to the Ying Yang, I They will be able to quickly gather, re-order, into battle.
At this point, although Liu Ying Yang temporarily stabilize the foot, but of dysfunction have been playing their own small thinking. 204 BC, the king and the leopard to the ground dying parents, leave their hometowns. he got to the Wei States must immediately destroy the Yellow River crossing, openly put up the banner of anti-Han Chu help.
famous Bang sent its lobbyists to persuade Li Shi Wei Bao Guixiang, he was turned down. Liu Bang was furious, command to wipe out shuaibing Wei Bao Han Xin.
2. reassert their skills and enhance the status of
to the Han Liu Bang despite three fifty thousand troops, and counterparties rather, it is a very difficult task.
Geographically, the North and Zhao Wei, on behalf of the two-phase, natural barrier to the west of the Yellow River barrier, Wei Guoan Yap is an important strategic location east of the river. Once Gong Wei Han, Wei Zhao is likely to connect quickly and on behalf of the States to jointly resist. that Zhao Wei took the backing of the north and west along the Yellow River based on the importance of the ferry and to Yasumura as command centers, we can firmly guards along the Yellow River, to prevent cross the river Han. From the geographical point of view, Shou-Wei Yi difficult to attack, dominant.
In this case, hatred and Han Wei Jun fight a protracted war, caused the collapse of Han; and from the Han perspective, it is desirable that a quick fix, Wei Jun surprise to Jones's command center mm Yasumura.
So Han Xin shuaibing proceed straight to the Yellow River guarding Yao Jin Wei Jun Jin mm linjin.
to linjin Han Xin Jin, and chose to camp, high-profile time for troops to do deliberate vessel, so that the opposite Wei Jun Jin of the Han to storm linjin convinced. secret agents posing as detectors are sent upstream situation. Soon exploration soldiers return, the opposite is almost always a lot of Yao Jin Wei Bing bank guard, but in the upper reaches of the summer sun, as too close to the vessel less inconvenience to cross the river, so little guarded Wei Bing, garrison empty.
Han and Guan Ying Tsao immediately ordered a lot of the large wooden vase made raft. day evening, Han suddenly the Troops. leaving thousands of troops and horses , to the Guan Ying, and stressed that emergency line, to Hsia. one to Hsia, immediately brought a large wooden raft into the river in the vase, each vase carrying two or three soldiers, a well-cross the river without overturning. soldiers in the vase, the use of armed paddling water, natural too River. two or three million troops under cover of night to sneak into the Yellow River mouth surprise summer.
then, Han army Youyi lightning speed from the rear side of the raid linjin and defeat Wei Jun Dongzhang areas, attack points the need to place Yasumura.
Han Xin, this series of raids, so the king and the generals Park straight off guard, forced to transfer troops hurriedly to save critical eup, leading to the main army of travel back and forth, constantly on the run.
Han Army attack accounted for Anyi, immediately Youxiang Osaka from north of the Wei Jun Po attack. armies Yasumura played against Southwest. Han Tsao Department of attack from the front, Guanying cavalry surrounded the sideswipe. Jun Wei Tsao quickly defeated infantry, cavalry also Guan Ying hit by scattered, Wei Jun gradually into a siege. Wei Xiang captured the king, the king leopard rate defeated the East to go Quyang, was again broken up, Wei Bao fled Higashigaki (now Hill Shitan song) by Han Suoqin, Wei Jun annihilated.
Yasumura war is Han's second classic examples. By this victory, he not only captured the king, put down the Wei land, let off the threat of a sudden lift in the dorsal, actually lifted Liu to worry about, so that it can concentrate on fighting the forces of Chu. This leaves Han Han Xin in the initial set up his military position.
3. read boss, complaining about
Han radical away from the grievances of out, but this process there is a problem it is necessary to analyze: why the reluctance to military power to the Han Liu Bang?
the answer to Liu Bang who want to go, because we have the flow line, and this stage potential mainly in the boss, if the boss is not inclined to chance, then we have to be Wu place, in addition to the military commander of the dream of Liu Bang made for personal reasons, they also need the background from the era of big deeper to determine.
the background was large, like a lion (Xiang Yu) and between a group of dogs struggle. which have a relatively strong dog (Bang), the occasional call of his hunting dogs to form a large group, take the initiative to attack the lion. When the lion angry when any one of the dogs can not match it, so get a group of dogs were driven apart. the entire battlefield is everywhere, a group of dogs harassing the lion, but can not beat him, but confused the lion mania endless.
for Liu Bang, the first key problem is that he became a group of dogs The stands out, and now the lion has been locked in, and is tightly pushed to Xing Yang. In this moment, a big military power will definitely not be easily lost, or there is fear for their lives immediately.
a second a terrible problem in this moment, no one, no matter turned out to be officers and soldiers, or even just a bandit, as long as have the military power, it is likely to become an independent dogs. tetrarch of dysfunction by Xiang Yu has actually Xiang Yu did not fully listen to the (meaning is clear, do not have repeatedly said, not to mention just said above, an attack him. In this case, Liu mind very clear, Han's military power must be concentrated into their own hands, no one can have a slightly larger military power, especially as Han did so with large-scale military generals, not only military power can not be easily given, it must strictly control the scale of his troops, otherwise, no end of trouble.
In this case, the Han period of time without military power is normal thing. And if Han Xin had at this time more demonstration of complaints expressed dissatisfaction and contempt of Liu Bang, then the great general position with great difficulty be afraid to immediately lose out.
So why Han has got a chance? In addition to Liu Bang, broken dream, but also A more important reason: a dog attached to Liu's (the king and Leopard) actually rebels, left him. This is a terrible thing to not to give a little color, a warning shot, Liu Bang's troubles will be greater. So, to Han Xin small (less that he is not a separate hunting dogs) and forces the dog to pick up only mutiny.
read the boss is complaining about the medicine cure
First, read the boss, is to find the root cause of the means necessary. only to read the boss can understand why by the had complained that disease, many people are and more, eventually directly affect their behavior, resulting in the loss of good jobs.
Second, read the boss, the treatment complained of medicine. because once we understand the boss, you'll be able to figure out how to get a chance, to find the right way to hold a good job. to wait or even create the opportunity for more and better opportunities.
reality, gives us a are for the is an effective means of radical complain, or even the only means.
Tuesday, December 28, 2010
SIM selected and Comments (September 22)
1, Wen: to maintain stability in financial markets and the securities market
Xinhua Beijing Sept. 20 Xinhua: Hu Jintao, Premier Wen Jiabao at the party the morning of the 20th-depth study of the scientific concept of development activities to mobilize Congress and provincial and ministerial level Seminar of the major leading cadres made The primary objective of promoting scientific development. This is the economic development in recent years the most difficult year. complex and changing international economic situation, the international financial turmoil, the global economy slowing down markedly, and may further exacerbate the situation. the impact of these changes can not be underestimated in China . the domestic economic operation also many outstanding problems, not to alleviate upward pressure on prices, growth in some regions and industries decline.
we have to correct the direction of macroeconomic regulation, intensity and rhythm, to seize the key, focused, differential treatment, to maintain pressure and improve control effectiveness, relevance, flexibility, in particular, to grasp the stable and rapid economic growth and inflation in balance, to maintain macroeconomic stability, maintain financial market stability and maintaining security market stability.
��Comments�� U.S. subprime crisis triggered by the global financial market turmoil, even including China, 9 Chinese banks involving a total of $ 658,000,000 funds for the purchase of the held by banks involved in the impact, but has aroused the vigilance of our government, Presumably, in order to achieve the Supplementary Provisions of shares repurchased (draft)
Commission website: Listed companies should fulfill their reporting in the following cases, notice obligations: 1, the listed company should buy back shares at the first public announcement the day after the incident occurs; 2 repurchase of shares of listed companies accounted for the proportion of the total share capital of listed companies increased by 1%, it shall be the date of occurrence of that fact shall be announced within 3 days; 3, a listed company should buy back during the regular reports on progress in the repurchase announcement, including the number and percentage of shares repurchased, the purchase of high and low, the total amount paid; 4, buy-back period or the buy-back program has been implemented, the listed company shall make public the total amount of repurchased shares, the purchase of high and low, and the total amount paid.
price of the shares of listed companies shall not repurchase stock day trading restrictions increase the price.
listed company may not repurchase shares of the following transaction time: 1, Open call auction; 2, half an hour before closing.
listed company may not repurchase shares in the following period: 1, periodic reports of listed companies, performance notice 10 days before the announcement of results of Letters; 2, since the likely price of our stock significant impact on the occurrence of major issues or decision-making process, to 2 trading days after the disclosure law.
listed companies announced share repurchase program in the date of repurchase of shares until 30 days after the date of completion shall be published or implementation of the cash dividend.
��Comments�� Commission's of the operation, but it fully reflects the stock market's powerful groups listed companies, there is not a serious problem of information, particularly in the circulation time, industrial capital of the holding position, make it easy to buy shares in the existence of insider trading and price manipulation problems, plan ahead and take preventive measures conducive to stable and healthy development of securities markets, if the supplementary regulations before the September 18 officially implemented, will announce Huijin repurchase shares of three banks situation. (the long-term good news for the market)
3, the City Commission again IPO firms from the bear market of agricultural firms suspended
Economic Observer review: Now, from mid-September meeting the Commission sponsor the training materials have been in the major brokerage investment banking spread. exclusive reporter learned that this material shows that all types of companies on the current IPO regulators new attitude: to tighten.
A share listed like to be the controlling stake back to the territory, as long as the shares move in or out of the procedure is legal, compliance, actual controller has not changed, no significant changes in key management, does not affect the audit. investment bank said.
meeting for shareholders of a limited partnership of the IPO audit, also made strict rules. Class listing. the number of shareholders, at present the Ministry of Finance is developing policies to suspend review. will issue new shares and the controlling shareholder of the enterprise, partners to be clear, the number of shareholders to comply with relevant regulations, to avoid the market after the issue one way or another, this is another relevant sector governance, a strong stock market measures. (the message is market long-term good)
4, central bank Deputy Governor Su Ning: China is confident of maintaining financial market stability
China news agency, Shanghai, September 20 -: on the 20th here at the Fifth China International Finance Forum ability to respond to various challenges, maintain financial market stability.
He said the People's Bank of China highly concerned about the U.S. subprime mortgage crisis caused by financial instability, high degree of vigilance the international market financial turmoil and weakening external demand and China's domestic market may have adverse economic impact. parties will strengthen macro-control measures more proactive, flexible, and strengthen the economy and weaknesses in key areas of support, strengthen monetary policy and fiscal policy, industrial policy, coordination, focus on promoting economic restructuring and development pattern. At the same time will further deepen the reform of financial enterprises, promote the establishment of modern enterprise system, improve risk management capabilities, establish and improve the financial safety net
��Comments�� as the People's Bank of China Deputy Governor Su Ning's speech on behalf of the Central Bank treatment because of U.S. subprime crisis has triggered a global financial market turmoil could result in China's financial, macroeconomic maintenance of some of the negative impact of confidence in China's financial market stability, and this confidence comes from China and has wide leeway market, from domestic demand, especially consumer demand, the role of economic growth, from the CPI has been effectively controlled.
5, Wu Xiaoling: no cut reserve ratio is room
China Securities News the current rate has not lowered the reserve room. , the current monetary policy is only room for fine-tuning.
Wu pointed out that no need to appeal to lower the reserve ratio, because only the central bank's foreign exchange eat less than the year when demand for base money only with the conditions for reducing the reserve ratio.
��Comments�� If you can not cut the deposit reserve ratio, Bank's monetary liquidity problems are difficult to solve, the amount of foreign loans only to maintain the current status quo. (The bad news for the industry)
6, the Shanghai SASAC: support for state-owned holdings of shares in listed companies
Shanghai Securities News: 19 May, the Shanghai SASAC held a special meeting to study the regulatory unit to promote its investment holding company listed on the work. Shanghai SASAC, said support and supervision of state-owned enterprises to encourage investment, in line with policy and regulations under the premise of in accordance with the requirements of the capital market, according to their own business activities, its holdings of listed companies holding shares in companies holding regulatory capital to support repurchase of shares of listed companies.
Shanghai SASAC also said that in order to promote stable and healthy development of capital markets , SASAC supervision of state-owned enterprises invested in a certain period of time without reduction of listed companies held by the supervision of state-owned enterprise investment committee listed holding companies should set an example of a capital market.
��Comments�� Shanghai, China's stock market has always been a pioneer of reform and practice. Before, the state-owned enterprises in Shanghai to encourage and support integration and restructuring of the overall market, and broken sword ax to implement; Today, holdings of shares in listed companies to support state-owned enterprises, and that no reduction in a certain period of time listed companies held by the development, attention to the local state-owned shares of Shanghai. (The good news for the market and the plate)
7, the eve of T-Huijin shot sneaked into the banking stocks
Army Daily News: Overall, begins Sept. 11 Bank stocks plummeted, out of a total of more than 7 billion yuan; which institutional funds on Tuesday to sell 4.7 billion, a net outflow of the largest, is 33 billion; the day of the whole banking sector has fallen 9.49%, more than just banking stocks hit bottom.
Fund Who's selling access to it? buying of bank shares from the main seat of view, an insurance-based T-seat is the main buyer of the first account, almost all of the financial sector to get involved. If the Bank of China bought the first Tuesday, Wednesday The three accounts are the T-head; usually sector participation in more than CITIC Bank, during a slump in the T-head account also appears in the top ten in the bid; In addition, Bank, China Ping An, Industrial Bank, also appear in the T-account to buy seats in the head. In general, once the top of several successful escape prefix T accounts, this has will be the beneficiaries of this policy change, the rally will also promote the broader market rebound. But the rescue package does not cover the risks faced by banking stocks. There researcher noted that the international financial market turmoil persists, the market outlook is not optimistic; the macro- economic uncertainty, the real estate market trends will lead to greater quality of bank assets test, and macro-control policies in what changes will occur in October, is also uncertain. All these will affect the future trend of bank shares .
��Comments�� The message reminds us of the Tang Dynasty poet Du Fu's Thatched Cottage in Chengdu Huanhuaxi River, written by small silent Mount with Pan, was silent at hearing thunder, management issues asset managers, indicating nature of the two sources of funds, money managers in the sense of responsibility that the problem, indicating the market confidence. (the message for the market neutral preference)
8, Xinhua News Agency: Banks Crazy week, the fundamentals are still good
fell across the board from a two-day limit to 19 across the board, in the four trading days this week, A-share market segment m the first heavyweight banking stocks show the future profitability of banks is expected to be rapid growth in the current situation gradually fell, but will continue to maintain steady development and sustained growth.
experts believe that the full range of banking stocks daily limit Friday, bank stocks began to show a good start. The Early this week, bank stocks oversold, the market reflects the risk of overseas investment on China's banking sector and the earnings outlook concerns. China Banking Regulatory Commission Chairman Liu recently made it clear that the banking sector at home and abroad are optimistic about the developments these years and achievement at the same time, need be prepared.
��Comments�� banking stocks last week experienced a Dabeidaxi process consecutive limit-down bank shares, which is the first time in the history of China's securities, banking stocks without the introduction of the three good, what should be How to Romance, I believe it will rebound because the market after the overkill, it will reflect its value, will be Bank shares rebounded Monday there will be space, but still not as previously fame remains to be seen, after all, banks also face many uncertainties, how continuous rise too high, will form a new that the market turmoil will, Liu said the truth, the banking sector need to be prepared, bank shares will have a reasonable value of the space.
9,19 at the exchange rate of RMB against the U.S. dollar dropped 75 basis points
Xinhua SHANGHAI, Sept. 19 Xinhua: China Foreign Exchange Trade Center from the data, September 19 reported that the central parity of RMB against the U.S. dollar 6.8276, down 75 basis points over the previous session.
��Comments�� on the 19th of RMB against the U.S. dollar fell 75 basis points, but this week the central parity of RMB against the U.S. dollar appreciated sharply by 200 basis points, jumped to 6.82 from 6.84 the top, indicating that the U.S. financial turmoil, global financial turmoil is also the RMB exchange rate has a sharp shock trend, which is not conducive to the requirements of the renminbi stable, but we also note that the depth of the RMB devaluation of sterling against the euro, the pound is around 1 in 12 was dropped from 1 in 12.4, which can more or less conducive to China product exports to the EU. (This message temporary preference for the macro-neutral)
10, Lehman Brothers QFII in China is facing liquidation profit 300 000 000 4 years
Investor Report: Sept. 15, Wall Street was the first mm four investment bank Lehman Brothers Holdings Inc, was unable to escape the clutches of the subprime crisis, sadly announced that the U.S. Bankruptcy Code in accordance with Chapter 11 of the New York Southern District U.S. Bankruptcy Court for bankruptcy protection. Lehman Brothers is also the European subsidiary declared bankruptcy the same day. This means that Lehman Brothers International (Europe) 4 years in China, more than 300 million yuan profit QFII will face liquidation, and the QFII custodian brokerage mm brokerage CITIC Securities will also be a little involved.
bird with the August 2006 short A shares and the liquidation of the dynasty experienced asset management companies (QFII) by contrast, Lehman Brothers QFII in China's own crisis of profitability because of forced liquidation. According to Wind Data The QFII holdings, the reporter rough estimate, as of Sept. 15, Lehman Brothers QFII in China, the 4 years of earnings of about 3 million. According to Daily News statistics, as of June 30, 2008, Lehman Brothers A share also holds three stocks, namely, Great Wall Electrical, Shen Tianma A and Jinxi Axle.
impact is very limited. agent broker. pre-fulfilled.
��Comments�� with century-old said the collapse of Lehman Brothers, not only affect Chinese banks, but also has affected other financial industries in China, even China's securities market, if Lehman in China business liquidation, and that its holdings of Chinese stock movements or will be affected, but its 4 years to see 300 million profit, from a mature investment philosophy is still worthwhile to learn from Chinese investors. (This message is market-neutral bearish)
11, the Fund sold a net 3.4 billion yuan on Friday, China Securities Journal
: stimulation of the three good, strong market index daily limit on Friday. But Flush TOPVIEW weekly data, not hot money seems determined to do more, last Friday, the Fund sold a net 3.4 billion. there is a market analysis, which the Fund were cautious on the part of the stock does not change Opening a large scale can not, therefore showing a net selling status.
on Friday, A shares, B shares and warrants are almost across the board limit, but the agency seems to have little interest daily limit to recover the goods, showing a net selling state fund. TOPVIEW data, sold off a number of industries, such as in the 4.24 massive market sell-off was Hengyuan Coal Fund to risk of further sale, reflects the degree of fund holdings, pursuit of the China South Locomotive and Friday coupons based positions also fell 4.14%; In addition, Huayi Electric, Hualian, Xinjiang and other equity securities Tianye proportion of base positions declined 3.5% or more. The volume of these stocks have significantly enlarged , higher than usual turnover nearly doubled, with a strong reluctance to sell the whole disk in stark contrast to psychology, from the side confirmed that there is big money in selling.
Flush TOPVIEW data show that the QFII has not been good at bargain-hunting seize this opportunity to hunters, and hot money is likely to dominate the market's daily limit wonders.
��Comments�� market on Friday from the volume and disk performance, the fund's stock is likely to lighten up for the high-priced shares and further adjustments requirements of individual stocks, that is still part of the market rallies to lighten up the main idea of the operation. (the bad news for the market)
12, only 60% of the Fund as a whole afternoon jiacang positions larger space
CCTV : Fund for the stock market has always been seen as an important institutional investors, the most popular in the market, the partial stock funds up to 85% of the overall position, but the latest statistics show that the Fund's overall position is currently less than 60%. widely believed , having a fund there is a large jiacang space.
statistics, 244 equity funds rose in the 19th, the daily average net growth rate of 5.97%, according to estimates, this means that the overall average position of these funds also less than 60%. which, at more than 9% growth in net worth of only four, and only 7% above 47, even day four funds with negative or zero net growth, which indicates that a few partial stock funds in the hands not stock, or to buy the bonds. and this has to a certain extent, shows that in the weak environment, the fund manager's investment very carefully.
��Comments�� industry must determine how to fund certain To buy stocks, are Ta was to buy? because the fund 60% of the positions had not illegal, it is difficult to not buy the provisions for breaches of Who? Therefore, we assume the media are always too many things to the media if the broader market fell below 3000 points to continued earnestly warned small investors, price-earnings ratio 20 times faster, and broader market bottomed out, but at great length, but the market? not even fell below 2000 points yet? Therefore, the media sometimes good intentions do wrong, but not always wrong, right? Shihai 6,000 people in the industry to see what 8,000 points and 10,000 points, in addition to be finished so dumb slip of the tongue, but who will be responsible? (the message for the market neutral)
13 , domestic banks, and CITIC Bank and other banks also announced a number of its bonds held by Lehman. As of today, Chinese banks involving a total of Lehman debt amounted to $ 658,000,000.
Construction Bank announced that as of this announcement, Company and its subsidiaries held by Lehman Brothers Holdings related bonds totaled $ 191,400,000, of which $ 141,400,000 senior notes, subordinated debt 050 million U.S. dollars. Group held holding company, Lehman Brothers-related bonds accounted for about 6, 2008 30 total assets of 0.019%, or about 30 June 2008 the Group net assets of 0.29%.
CITIC Bank announcement, the statistics, as of this announcement with the U.S. Lehman Brothers-related investment and exposure arising from transactions totaling $ 76,000,000 off the contract. Company did not hold the company's subordinated bonds. As of now, the company has yet to extract the impairment of the bonds; company will assess the risk of the bonds, according to the principle of prudent extract the corresponding impairment, be disclosed in accordance with the relevant rules.
��Comments�� Chinese banks involved in Lehman is over, other U.S. financial system will not be a fog, because according to the U.S. Council on Foreign Relations Ceaser economists estimate that China's purchases of U.S. securities totaled more than 1 trillion. (the bad news for the industry and the market)
14, the nation's major power plant coal storage in total record
Shanghai Securities News: Recently, the main power plant coal storage in the National 353 total close to 3,000 tons, hit the nation's major power plant coal storage a new record. In this regard, industry analysts pointed out that the weakness and the power supply and demand seasonal factors, the thermal coal market contradictions temporary relief. and if the electric power, coal market to weaken further, the state step by step to increase the possibility of coal linkage.
reporter noted that, in fact, national sales price of the future increase has been such as Previously, China Ferroalloy Industry Association, also said a charge the government will raise the sales price, the increase rate of 0.025 yuan / kwh.
According to Shanghai Securities News reported: This year, electricity consumption has continued to remain growth trend, but showed slower growth rate of the general trend of monthly .9 19, the China Electricity Council (CEC) released August 1 to run the electric power industry report pointed out that the country prior to 8 months electricity than the whole of society down the first 7 months of 0.72 percentage points. Meanwhile, the August growth rate of the national power generation chain also continued to fall.
��Comments�� rationalize energy prices is one of our energy policy, after the central The government has made it clear that coal linkage will start this year, but because the first half of the CPI rise, and so CPI decline, followed by the PPI has been rising continuously, and in high, coal linkage was shelved, although the coal within a short period the difficulty of electronic linkage is still relatively large, but energy price reform is the general trend, step by step before the test line is also possible, but also help rationalize energy prices, national energy conservation policies are truly implemented, from the news perspective, coal inventory record high, indicating that the reduction of electricity consumption, which not only shows less seasonal consumption, but also from the side that domestic industrial production is not optimistic, concerned about the macroeconomic trends. (the message for the power industry and coal industry neutral bearish)
15, the new pricing mechanism for refined oil products introduced during the year look
China Times: September 18, a relevant person in charge told the Petroleum Group, refined oil prices delayed the plan, authorities plan to launch this year a new oil pricing mechanism, it is expected that reforms will not in one step, first step is to straighten out the price, making the oil prices and international oil prices to achieve standards. < br> person in charge told reporters, international oil prices to 90 dollars in the callback after he rose, as long as international oil prices above 85 U.S. dollars / barrel, to achieve convergence of the refined oil prices will increase.
Petroleum Group is responsible for a others believe that even though international oil prices have fallen, but in the world and China's macro-economic background, refined oil pricing mechanism to adjust the difficulty is still large, in addition to the uncertainty in international oil prices, the current national economic policies by the
��Comments�� This message indicates that the state will rationalize energy prices as one of the key next step, if you do not rationalize energy prices, then the overall loss of the petrochemical industry to not completely change the situation, and to change the petrochemical industry overall losses, the first is to change the oil pricing mechanism, and the international crude oil market, the recent rebound in international crude oil prices, from September 17 to close at $ 91.15 price / barrel, rebounding to close at 20, a barrel $ 104.55, up just 14.7% in three trading days, the volatile international crude oil market, but also need to improve the domestic refined oil pricing mechanism, but the state will also consider if the opening price of refined oil, will make just on the initial success the CPI control, and then rebounded? while also preventing the two groups monopolize the domestic oil market, the price-fixing. (The good news for the industry temporarily)
16, Baosteel steel prices down again, more than the adjustment of 800 yuan / ton
Beijing Times: Following the earlier, after the October price reduction yesterday, the domestic steel prices down again, the vane mm Baosteel prices of steel products, billets, hot rolled, cold rolled down such a comprehensive adjustment is more than 800 yuan / tons. in the second half, China's steel prices over the first half of the way up, Baosteel reduced by 10 consecutive months and in November the price downturn in steel market has undoubtedly worse.
It is understood that the reason Baosteel lowered steel prices, the root cause the domestic market demand. This reporter learned that, at present, domestic steel mills are a variety of ways cut, cut in response to the sluggish market. Among them, the Wuhan Iron and Steel is expected to begin in September part of the equipment maintenance, and Baoshan Iron and Steel side said that the current lack of orders, demand is not strong.
�� ��Comments reflect the message from the side, in inflationary pressures, slow economic growth, SMEs and the real estate industry downturn, weakening demand for the downstream industry, the macro background, the steel the potential profitability of the industry significantly increased risks and difficulties, and only by cutting prices to reduce inventory, tighten enterprise funds to solve the problem of liquidity pressure, Baosteel price reduction, the industry will reduce the price. (The bad news for the industry)
17,8 Beijing in January prices unchanged from last month as the first stop of this year rose
Beijing Times: Beijing Municipal Bureau of Statistics, National Bureau of Investigation Corps Beijing released 20 January to August this year, Beijing real estate market situation. statistical data, August, the Beijing housing sales price and the previous month, the first stop for the rise this year.
situation from the real estate investment, 1-August, the city invested 102.53 billion yuan in real estate development, compared with the previous decline of 3.4% over the same period, showing the first time since 2004, the month in negative growth of .8 in real estate development and investment is only 6.87 billion, with the completion of 15.9 billion yuan last year compared to the same month, a decrease of 56.8%.
��Comments �� Beijing real estate situation is the situation of the national real estate benchmark, with the leading role, 8 the month of the Olympics, so the price before the firm, the Olympic Games after that? the price to trend suggests that Beijing, the Beijing real estate prices have come down risk, and U.S. subprime crisis, many investment banks face the risk of collapse, foreign investors will divest from the Chinese real estate industry to achieve its purpose of liquidity to prevent the collapse, as Morgan Stanley began to quietly put up for sale earlier this year, Shanghai Property, Goldman Sachs and other foreign agencies also have similar moves. (The bad news for the industry)
18, Shen Nengyuan afraid Guimai: 20% premium to buy Shenzhen Nanshan Power
Daily News: The stock market continued to fall, would be more pick up a bargain, to the Group held 65,106,000 Shenzhen Nanshan Power's shares. While the daily limit yesterday to close at Shenzhen Nanshan, Shenzhen Energy's purchase price but still a premium of more than 20%, which means that the actual energy of Shenzhen has suffered no small loss! but Another side view, the courage to 5.17 yuan in Shenzhen Energy price for the acquisition, but also fully illustrates the power options for the recognition of the value Shennan
��Comments�� This is the industrial capital of the charm, it saw in the company's future market the position, rather than a pool of a city gains and losses, if the secondary market through the acquisition of not only a waste of time cost, there is likely to push stock prices higher, but also a range of issues raised placards to make the acquisition more expensive , Shen Nengyuan not do not understand the reason is, look at their purchase price, Shennan theory of the secondary market price of electricity at least 20% or more.
19, credit card default rates soared the U.S. financial crisis on the real economy
Daily Economic News: more terrible than the financial crisis is a sharp decline in U.S. consumption trends. 3 quarter of this year, the U.S. economy will fall into the abyss, will be sharply in Q4. In addition, if the credit crisis broke out, for real economy is the biggest, or even an instant big recession. survey showed U.S. credit card delinquencies are at double-digit rate increase, which will become the valves hit the U.S. real economy.
economists to Song Zuo said the next crisis in the United States may be reflected in three aspects. First, the small commercial banks next year will focus on bankruptcy. Second, is the CDS (credit default swaps) risk. Third, the interest rate can be regulate mortgage (ARM) crisis is imminent. well-known economist, said Cao Honghui, a more terrible is that a sharp decline in U.S. consumption trends. While this year's 2nd quarter as exports ...
Xinhua Beijing Sept. 20 Xinhua: Hu Jintao, Premier Wen Jiabao at the party the morning of the 20th-depth study of the scientific concept of development activities to mobilize Congress and provincial and ministerial level Seminar of the major leading cadres made The primary objective of promoting scientific development. This is the economic development in recent years the most difficult year. complex and changing international economic situation, the international financial turmoil, the global economy slowing down markedly, and may further exacerbate the situation. the impact of these changes can not be underestimated in China . the domestic economic operation also many outstanding problems, not to alleviate upward pressure on prices, growth in some regions and industries decline.
we have to correct the direction of macroeconomic regulation, intensity and rhythm, to seize the key, focused, differential treatment, to maintain pressure and improve control effectiveness, relevance, flexibility, in particular, to grasp the stable and rapid economic growth and inflation in balance, to maintain macroeconomic stability, maintain financial market stability and maintaining security market stability.
��Comments�� U.S. subprime crisis triggered by the global financial market turmoil, even including China, 9 Chinese banks involving a total of $ 658,000,000 funds for the purchase of the held by banks involved in the impact, but has aroused the vigilance of our government, Presumably, in order to achieve the Supplementary Provisions of shares repurchased (draft)
Commission website: Listed companies should fulfill their reporting in the following cases, notice obligations: 1, the listed company should buy back shares at the first public announcement the day after the incident occurs; 2 repurchase of shares of listed companies accounted for the proportion of the total share capital of listed companies increased by 1%, it shall be the date of occurrence of that fact shall be announced within 3 days; 3, a listed company should buy back during the regular reports on progress in the repurchase announcement, including the number and percentage of shares repurchased, the purchase of high and low, the total amount paid; 4, buy-back period or the buy-back program has been implemented, the listed company shall make public the total amount of repurchased shares, the purchase of high and low, and the total amount paid.
price of the shares of listed companies shall not repurchase stock day trading restrictions increase the price.
listed company may not repurchase shares of the following transaction time: 1, Open call auction; 2, half an hour before closing.
listed company may not repurchase shares in the following period: 1, periodic reports of listed companies, performance notice 10 days before the announcement of results of Letters; 2, since the likely price of our stock significant impact on the occurrence of major issues or decision-making process, to 2 trading days after the disclosure law.
listed companies announced share repurchase program in the date of repurchase of shares until 30 days after the date of completion shall be published or implementation of the cash dividend.
��Comments�� Commission's of the operation, but it fully reflects the stock market's powerful groups listed companies, there is not a serious problem of information, particularly in the circulation time, industrial capital of the holding position, make it easy to buy shares in the existence of insider trading and price manipulation problems, plan ahead and take preventive measures conducive to stable and healthy development of securities markets, if the supplementary regulations before the September 18 officially implemented, will announce Huijin repurchase shares of three banks situation. (the long-term good news for the market)
3, the City Commission again IPO firms from the bear market of agricultural firms suspended
Economic Observer review: Now, from mid-September meeting the Commission sponsor the training materials have been in the major brokerage investment banking spread. exclusive reporter learned that this material shows that all types of companies on the current IPO regulators new attitude: to tighten.
A share listed like to be the controlling stake back to the territory, as long as the shares move in or out of the procedure is legal, compliance, actual controller has not changed, no significant changes in key management, does not affect the audit. investment bank said.
meeting for shareholders of a limited partnership of the IPO audit, also made strict rules. Class listing. the number of shareholders, at present the Ministry of Finance is developing policies to suspend review. will issue new shares and the controlling shareholder of the enterprise, partners to be clear, the number of shareholders to comply with relevant regulations, to avoid the market after the issue one way or another, this is another relevant sector governance, a strong stock market measures. (the message is market long-term good)
4, central bank Deputy Governor Su Ning: China is confident of maintaining financial market stability
China news agency, Shanghai, September 20 -: on the 20th here at the Fifth China International Finance Forum ability to respond to various challenges, maintain financial market stability.
He said the People's Bank of China highly concerned about the U.S. subprime mortgage crisis caused by financial instability, high degree of vigilance the international market financial turmoil and weakening external demand and China's domestic market may have adverse economic impact. parties will strengthen macro-control measures more proactive, flexible, and strengthen the economy and weaknesses in key areas of support, strengthen monetary policy and fiscal policy, industrial policy, coordination, focus on promoting economic restructuring and development pattern. At the same time will further deepen the reform of financial enterprises, promote the establishment of modern enterprise system, improve risk management capabilities, establish and improve the financial safety net
��Comments�� as the People's Bank of China Deputy Governor Su Ning's speech on behalf of the Central Bank treatment because of U.S. subprime crisis has triggered a global financial market turmoil could result in China's financial, macroeconomic maintenance of some of the negative impact of confidence in China's financial market stability, and this confidence comes from China and has wide leeway market, from domestic demand, especially consumer demand, the role of economic growth, from the CPI has been effectively controlled.
5, Wu Xiaoling: no cut reserve ratio is room
China Securities News the current rate has not lowered the reserve room. , the current monetary policy is only room for fine-tuning.
Wu pointed out that no need to appeal to lower the reserve ratio, because only the central bank's foreign exchange eat less than the year when demand for base money only with the conditions for reducing the reserve ratio.
��Comments�� If you can not cut the deposit reserve ratio, Bank's monetary liquidity problems are difficult to solve, the amount of foreign loans only to maintain the current status quo. (The bad news for the industry)
6, the Shanghai SASAC: support for state-owned holdings of shares in listed companies
Shanghai Securities News: 19 May, the Shanghai SASAC held a special meeting to study the regulatory unit to promote its investment holding company listed on the work. Shanghai SASAC, said support and supervision of state-owned enterprises to encourage investment, in line with policy and regulations under the premise of in accordance with the requirements of the capital market, according to their own business activities, its holdings of listed companies holding shares in companies holding regulatory capital to support repurchase of shares of listed companies.
Shanghai SASAC also said that in order to promote stable and healthy development of capital markets , SASAC supervision of state-owned enterprises invested in a certain period of time without reduction of listed companies held by the supervision of state-owned enterprise investment committee listed holding companies should set an example of a capital market.
��Comments�� Shanghai, China's stock market has always been a pioneer of reform and practice. Before, the state-owned enterprises in Shanghai to encourage and support integration and restructuring of the overall market, and broken sword ax to implement; Today, holdings of shares in listed companies to support state-owned enterprises, and that no reduction in a certain period of time listed companies held by the development, attention to the local state-owned shares of Shanghai. (The good news for the market and the plate)
7, the eve of T-Huijin shot sneaked into the banking stocks
Army Daily News: Overall, begins Sept. 11 Bank stocks plummeted, out of a total of more than 7 billion yuan; which institutional funds on Tuesday to sell 4.7 billion, a net outflow of the largest, is 33 billion; the day of the whole banking sector has fallen 9.49%, more than just banking stocks hit bottom.
Fund Who's selling access to it? buying of bank shares from the main seat of view, an insurance-based T-seat is the main buyer of the first account, almost all of the financial sector to get involved. If the Bank of China bought the first Tuesday, Wednesday The three accounts are the T-head; usually sector participation in more than CITIC Bank, during a slump in the T-head account also appears in the top ten in the bid; In addition, Bank, China Ping An, Industrial Bank, also appear in the T-account to buy seats in the head. In general, once the top of several successful escape prefix T accounts, this has will be the beneficiaries of this policy change, the rally will also promote the broader market rebound. But the rescue package does not cover the risks faced by banking stocks. There researcher noted that the international financial market turmoil persists, the market outlook is not optimistic; the macro- economic uncertainty, the real estate market trends will lead to greater quality of bank assets test, and macro-control policies in what changes will occur in October, is also uncertain. All these will affect the future trend of bank shares .
��Comments�� The message reminds us of the Tang Dynasty poet Du Fu's Thatched Cottage in Chengdu Huanhuaxi River, written by small silent Mount with Pan, was silent at hearing thunder, management issues asset managers, indicating nature of the two sources of funds, money managers in the sense of responsibility that the problem, indicating the market confidence. (the message for the market neutral preference)
8, Xinhua News Agency: Banks Crazy week, the fundamentals are still good
fell across the board from a two-day limit to 19 across the board, in the four trading days this week, A-share market segment m the first heavyweight banking stocks show the future profitability of banks is expected to be rapid growth in the current situation gradually fell, but will continue to maintain steady development and sustained growth.
experts believe that the full range of banking stocks daily limit Friday, bank stocks began to show a good start. The Early this week, bank stocks oversold, the market reflects the risk of overseas investment on China's banking sector and the earnings outlook concerns. China Banking Regulatory Commission Chairman Liu recently made it clear that the banking sector at home and abroad are optimistic about the developments these years and achievement at the same time, need be prepared.
��Comments�� banking stocks last week experienced a Dabeidaxi process consecutive limit-down bank shares, which is the first time in the history of China's securities, banking stocks without the introduction of the three good, what should be How to Romance, I believe it will rebound because the market after the overkill, it will reflect its value, will be Bank shares rebounded Monday there will be space, but still not as previously fame remains to be seen, after all, banks also face many uncertainties, how continuous rise too high, will form a new that the market turmoil will, Liu said the truth, the banking sector need to be prepared, bank shares will have a reasonable value of the space.
9,19 at the exchange rate of RMB against the U.S. dollar dropped 75 basis points
Xinhua SHANGHAI, Sept. 19 Xinhua: China Foreign Exchange Trade Center from the data, September 19 reported that the central parity of RMB against the U.S. dollar 6.8276, down 75 basis points over the previous session.
��Comments�� on the 19th of RMB against the U.S. dollar fell 75 basis points, but this week the central parity of RMB against the U.S. dollar appreciated sharply by 200 basis points, jumped to 6.82 from 6.84 the top, indicating that the U.S. financial turmoil, global financial turmoil is also the RMB exchange rate has a sharp shock trend, which is not conducive to the requirements of the renminbi stable, but we also note that the depth of the RMB devaluation of sterling against the euro, the pound is around 1 in 12 was dropped from 1 in 12.4, which can more or less conducive to China product exports to the EU. (This message temporary preference for the macro-neutral)
10, Lehman Brothers QFII in China is facing liquidation profit 300 000 000 4 years
Investor Report: Sept. 15, Wall Street was the first mm four investment bank Lehman Brothers Holdings Inc, was unable to escape the clutches of the subprime crisis, sadly announced that the U.S. Bankruptcy Code in accordance with Chapter 11 of the New York Southern District U.S. Bankruptcy Court for bankruptcy protection. Lehman Brothers is also the European subsidiary declared bankruptcy the same day. This means that Lehman Brothers International (Europe) 4 years in China, more than 300 million yuan profit QFII will face liquidation, and the QFII custodian brokerage mm brokerage CITIC Securities will also be a little involved.
bird with the August 2006 short A shares and the liquidation of the dynasty experienced asset management companies (QFII) by contrast, Lehman Brothers QFII in China's own crisis of profitability because of forced liquidation. According to Wind Data The QFII holdings, the reporter rough estimate, as of Sept. 15, Lehman Brothers QFII in China, the 4 years of earnings of about 3 million. According to Daily News statistics, as of June 30, 2008, Lehman Brothers A share also holds three stocks, namely, Great Wall Electrical, Shen Tianma A and Jinxi Axle.
impact is very limited. agent broker. pre-fulfilled.
��Comments�� with century-old said the collapse of Lehman Brothers, not only affect Chinese banks, but also has affected other financial industries in China, even China's securities market, if Lehman in China business liquidation, and that its holdings of Chinese stock movements or will be affected, but its 4 years to see 300 million profit, from a mature investment philosophy is still worthwhile to learn from Chinese investors. (This message is market-neutral bearish)
11, the Fund sold a net 3.4 billion yuan on Friday, China Securities Journal
: stimulation of the three good, strong market index daily limit on Friday. But Flush TOPVIEW weekly data, not hot money seems determined to do more, last Friday, the Fund sold a net 3.4 billion. there is a market analysis, which the Fund were cautious on the part of the stock does not change Opening a large scale can not, therefore showing a net selling status.
on Friday, A shares, B shares and warrants are almost across the board limit, but the agency seems to have little interest daily limit to recover the goods, showing a net selling state fund. TOPVIEW data, sold off a number of industries, such as in the 4.24 massive market sell-off was Hengyuan Coal Fund to risk of further sale, reflects the degree of fund holdings, pursuit of the China South Locomotive and Friday coupons based positions also fell 4.14%; In addition, Huayi Electric, Hualian, Xinjiang and other equity securities Tianye proportion of base positions declined 3.5% or more. The volume of these stocks have significantly enlarged , higher than usual turnover nearly doubled, with a strong reluctance to sell the whole disk in stark contrast to psychology, from the side confirmed that there is big money in selling.
Flush TOPVIEW data show that the QFII has not been good at bargain-hunting seize this opportunity to hunters, and hot money is likely to dominate the market's daily limit wonders.
��Comments�� market on Friday from the volume and disk performance, the fund's stock is likely to lighten up for the high-priced shares and further adjustments requirements of individual stocks, that is still part of the market rallies to lighten up the main idea of the operation. (the bad news for the market)
12, only 60% of the Fund as a whole afternoon jiacang positions larger space
CCTV : Fund for the stock market has always been seen as an important institutional investors, the most popular in the market, the partial stock funds up to 85% of the overall position, but the latest statistics show that the Fund's overall position is currently less than 60%. widely believed , having a fund there is a large jiacang space.
statistics, 244 equity funds rose in the 19th, the daily average net growth rate of 5.97%, according to estimates, this means that the overall average position of these funds also less than 60%. which, at more than 9% growth in net worth of only four, and only 7% above 47, even day four funds with negative or zero net growth, which indicates that a few partial stock funds in the hands not stock, or to buy the bonds. and this has to a certain extent, shows that in the weak environment, the fund manager's investment very carefully.
��Comments�� industry must determine how to fund certain To buy stocks, are Ta was to buy? because the fund 60% of the positions had not illegal, it is difficult to not buy the provisions for breaches of Who? Therefore, we assume the media are always too many things to the media if the broader market fell below 3000 points to continued earnestly warned small investors, price-earnings ratio 20 times faster, and broader market bottomed out, but at great length, but the market? not even fell below 2000 points yet? Therefore, the media sometimes good intentions do wrong, but not always wrong, right? Shihai 6,000 people in the industry to see what 8,000 points and 10,000 points, in addition to be finished so dumb slip of the tongue, but who will be responsible? (the message for the market neutral)
13 , domestic banks, and CITIC Bank and other banks also announced a number of its bonds held by Lehman. As of today, Chinese banks involving a total of Lehman debt amounted to $ 658,000,000.
Construction Bank announced that as of this announcement, Company and its subsidiaries held by Lehman Brothers Holdings related bonds totaled $ 191,400,000, of which $ 141,400,000 senior notes, subordinated debt 050 million U.S. dollars. Group held holding company, Lehman Brothers-related bonds accounted for about 6, 2008 30 total assets of 0.019%, or about 30 June 2008 the Group net assets of 0.29%.
CITIC Bank announcement, the statistics, as of this announcement with the U.S. Lehman Brothers-related investment and exposure arising from transactions totaling $ 76,000,000 off the contract. Company did not hold the company's subordinated bonds. As of now, the company has yet to extract the impairment of the bonds; company will assess the risk of the bonds, according to the principle of prudent extract the corresponding impairment, be disclosed in accordance with the relevant rules.
��Comments�� Chinese banks involved in Lehman is over, other U.S. financial system will not be a fog, because according to the U.S. Council on Foreign Relations Ceaser economists estimate that China's purchases of U.S. securities totaled more than 1 trillion. (the bad news for the industry and the market)
14, the nation's major power plant coal storage in total record
Shanghai Securities News: Recently, the main power plant coal storage in the National 353 total close to 3,000 tons, hit the nation's major power plant coal storage a new record. In this regard, industry analysts pointed out that the weakness and the power supply and demand seasonal factors, the thermal coal market contradictions temporary relief. and if the electric power, coal market to weaken further, the state step by step to increase the possibility of coal linkage.
reporter noted that, in fact, national sales price of the future increase has been such as Previously, China Ferroalloy Industry Association, also said a charge the government will raise the sales price, the increase rate of 0.025 yuan / kwh.
According to Shanghai Securities News reported: This year, electricity consumption has continued to remain growth trend, but showed slower growth rate of the general trend of monthly .9 19, the China Electricity Council (CEC) released August 1 to run the electric power industry report pointed out that the country prior to 8 months electricity than the whole of society down the first 7 months of 0.72 percentage points. Meanwhile, the August growth rate of the national power generation chain also continued to fall.
��Comments�� rationalize energy prices is one of our energy policy, after the central The government has made it clear that coal linkage will start this year, but because the first half of the CPI rise, and so CPI decline, followed by the PPI has been rising continuously, and in high, coal linkage was shelved, although the coal within a short period the difficulty of electronic linkage is still relatively large, but energy price reform is the general trend, step by step before the test line is also possible, but also help rationalize energy prices, national energy conservation policies are truly implemented, from the news perspective, coal inventory record high, indicating that the reduction of electricity consumption, which not only shows less seasonal consumption, but also from the side that domestic industrial production is not optimistic, concerned about the macroeconomic trends. (the message for the power industry and coal industry neutral bearish)
15, the new pricing mechanism for refined oil products introduced during the year look
China Times: September 18, a relevant person in charge told the Petroleum Group, refined oil prices delayed the plan, authorities plan to launch this year a new oil pricing mechanism, it is expected that reforms will not in one step, first step is to straighten out the price, making the oil prices and international oil prices to achieve standards. < br> person in charge told reporters, international oil prices to 90 dollars in the callback after he rose, as long as international oil prices above 85 U.S. dollars / barrel, to achieve convergence of the refined oil prices will increase.
Petroleum Group is responsible for a others believe that even though international oil prices have fallen, but in the world and China's macro-economic background, refined oil pricing mechanism to adjust the difficulty is still large, in addition to the uncertainty in international oil prices, the current national economic policies by the
��Comments�� This message indicates that the state will rationalize energy prices as one of the key next step, if you do not rationalize energy prices, then the overall loss of the petrochemical industry to not completely change the situation, and to change the petrochemical industry overall losses, the first is to change the oil pricing mechanism, and the international crude oil market, the recent rebound in international crude oil prices, from September 17 to close at $ 91.15 price / barrel, rebounding to close at 20, a barrel $ 104.55, up just 14.7% in three trading days, the volatile international crude oil market, but also need to improve the domestic refined oil pricing mechanism, but the state will also consider if the opening price of refined oil, will make just on the initial success the CPI control, and then rebounded? while also preventing the two groups monopolize the domestic oil market, the price-fixing. (The good news for the industry temporarily)
16, Baosteel steel prices down again, more than the adjustment of 800 yuan / ton
Beijing Times: Following the earlier, after the October price reduction yesterday, the domestic steel prices down again, the vane mm Baosteel prices of steel products, billets, hot rolled, cold rolled down such a comprehensive adjustment is more than 800 yuan / tons. in the second half, China's steel prices over the first half of the way up, Baosteel reduced by 10 consecutive months and in November the price downturn in steel market has undoubtedly worse.
It is understood that the reason Baosteel lowered steel prices, the root cause the domestic market demand. This reporter learned that, at present, domestic steel mills are a variety of ways cut, cut in response to the sluggish market. Among them, the Wuhan Iron and Steel is expected to begin in September part of the equipment maintenance, and Baoshan Iron and Steel side said that the current lack of orders, demand is not strong.
�� ��Comments reflect the message from the side, in inflationary pressures, slow economic growth, SMEs and the real estate industry downturn, weakening demand for the downstream industry, the macro background, the steel the potential profitability of the industry significantly increased risks and difficulties, and only by cutting prices to reduce inventory, tighten enterprise funds to solve the problem of liquidity pressure, Baosteel price reduction, the industry will reduce the price. (The bad news for the industry)
17,8 Beijing in January prices unchanged from last month as the first stop of this year rose
Beijing Times: Beijing Municipal Bureau of Statistics, National Bureau of Investigation Corps Beijing released 20 January to August this year, Beijing real estate market situation. statistical data, August, the Beijing housing sales price and the previous month, the first stop for the rise this year.
situation from the real estate investment, 1-August, the city invested 102.53 billion yuan in real estate development, compared with the previous decline of 3.4% over the same period, showing the first time since 2004, the month in negative growth of .8 in real estate development and investment is only 6.87 billion, with the completion of 15.9 billion yuan last year compared to the same month, a decrease of 56.8%.
��Comments �� Beijing real estate situation is the situation of the national real estate benchmark, with the leading role, 8 the month of the Olympics, so the price before the firm, the Olympic Games after that? the price to trend suggests that Beijing, the Beijing real estate prices have come down risk, and U.S. subprime crisis, many investment banks face the risk of collapse, foreign investors will divest from the Chinese real estate industry to achieve its purpose of liquidity to prevent the collapse, as Morgan Stanley began to quietly put up for sale earlier this year, Shanghai Property, Goldman Sachs and other foreign agencies also have similar moves. (The bad news for the industry)
18, Shen Nengyuan afraid Guimai: 20% premium to buy Shenzhen Nanshan Power
Daily News: The stock market continued to fall, would be more pick up a bargain, to the Group held 65,106,000 Shenzhen Nanshan Power's shares. While the daily limit yesterday to close at Shenzhen Nanshan, Shenzhen Energy's purchase price but still a premium of more than 20%, which means that the actual energy of Shenzhen has suffered no small loss! but Another side view, the courage to 5.17 yuan in Shenzhen Energy price for the acquisition, but also fully illustrates the power options for the recognition of the value Shennan
��Comments�� This is the industrial capital of the charm, it saw in the company's future market the position, rather than a pool of a city gains and losses, if the secondary market through the acquisition of not only a waste of time cost, there is likely to push stock prices higher, but also a range of issues raised placards to make the acquisition more expensive , Shen Nengyuan not do not understand the reason is, look at their purchase price, Shennan theory of the secondary market price of electricity at least 20% or more.
19, credit card default rates soared the U.S. financial crisis on the real economy
Daily Economic News: more terrible than the financial crisis is a sharp decline in U.S. consumption trends. 3 quarter of this year, the U.S. economy will fall into the abyss, will be sharply in Q4. In addition, if the credit crisis broke out, for real economy is the biggest, or even an instant big recession. survey showed U.S. credit card delinquencies are at double-digit rate increase, which will become the valves hit the U.S. real economy.
economists to Song Zuo said the next crisis in the United States may be reflected in three aspects. First, the small commercial banks next year will focus on bankruptcy. Second, is the CDS (credit default swaps) risk. Third, the interest rate can be regulate mortgage (ARM) crisis is imminent. well-known economist, said Cao Honghui, a more terrible is that a sharp decline in U.S. consumption trends. While this year's 2nd quarter as exports ...
Monday, December 27, 2010
Telecom should be entertainment, media, business integration
Moderator Sun: First of all am very pleased that we have invited our old friend Professor Lv Tingjie, Professor Lui to the users first call a good question.
POSTS: netizens Good morning, very pleased to share with you Sohu.
A , the global telecom equipment magnate shuffle rather than new technology is the demand-driven incentive sun
Moderator: Professor Lui is a very deep penetration of the communications industry experts, the first half of this year, the international global M & A wave surging, the traditional telecom industry integration phase may be at low tide, you think it is based on what kind of background, the outbreak of such a consolidation wave?
POSTS: It should be said from the beginning to the second half of the first half of last year, the big telecom equipment manufacturing Business has been mergers and acquisitions, Alcatel and Lucent, Nokia and Siemens are all carried out integration. so, including the community, including operators, are very concerned about the integration, so I think this integration of several features:
Global Telecom equipment manufacturers have begun to re-shuffle, shuffle the fuse that can be traced back to early last year, the United States a hundred years old (AT & T) to sell Simon Bell this event, we give the teaching of MBA students also said that case, some students said that demand, some people say that the trend of technological development, and others so that the regulatory rules.
but in fact, result in the telecom market reshuffle the most important factor is technological progress. We Recalling the history of AT & T, AT & T has 100 years of history, a century of development, the demand for development, despite the early 80s the United States has successfully integrated the AT & T, but it did not find a better profit growth point. What led him to weaken it? is the emergence of IP phones.
Bell Laboratories invented the cellular phone is the first research institutions, but they made a miscalculation, they think that IP is no market for resale to to the other companies, and then find the Motorola, Motorola in Chicago, the country's first set of test calls.
Second, 3G market opportunities in China continue to subvert the market
technology, this technology also is characterized with a take-all, we recently did a seminar in the conference, I specifically made a point of view, a lot of people are skeptical of China's CDMA, the government also tried some domestic manufacturers to promote the TD-SCDMA technology.
I think an important issue to address, some operators say that experiment is not successful, China Unicom was founded in 1994, citing the GSM, slowly adapting and mature. I think the technology and externalities are related and what is outside sex? tell a popular example, I have cats, dogs and fun, but the neighbors happy, and what paper, affecting the river downstream, these are external issues, communication is performed outside of strong, if the phone, for example, a person with my own phone, to no avail. If my relatives and friends have a cell phone, I tell them to contact, then the world has a mobile phone, I can contact them by. CDMA2000 is the best from the best in terms of advanced technology, the transition is relatively smooth.
but 80% of the market are GMS, resulting in a global market share of CDMA2000 few. There are often run abroad roaming, I would like to bring two mobile phones, multi-mode high cost. So we say that something is not the most advanced technology, the best thing, has a strong destructive. the failure of the U.S. CDMA, gradually shrinking the lessons of the market Tell us why so many countries in Europe will join together to develop new standards, the introduction of a European standard, which is called standard market diffusion capacity, directly affect the diffusion capacity of the WCDMA market.
GSM accounts for 80% of market. I say so that everyone would understand why the roaming user is very convenient, he can go to 80% of the region in the world can use all the advantages of Caesar led to his expanding power, led to his market power. Therefore, integration of markets, a rapid upgrading of communication technologies means that the need for a strong R & D team, in fact, China's TD devoted a lot of investment in the State, but also expect a lot of enterprises to participate, but I want to tell you a data, there A proportion of this is when we survey people abroad tell me, if I put a standard proposed by a billion, mainly because the standard of the initial research and development, but I might put up ten one hundred million patent registration. In addition there are the patent is not enough light The third phase of the R & D to invest 100 billion, corresponding to the technical people have to invest.
we voted in a million received international recognition, but the 10 million we do not, and now we have invested 100 million the products come out, this investment is very large. Now that the international manufacturers, even if you have the patent registered, you have a product, I strongly based on your note this thing a patent. Internationally, each other free of royalties , China has no patent, you buy someone else's. But China now has had the ability, you can participate in the club, but found that the 100 billion later, this is a relationship between the proportion of 1 to 10. then this investment is huge, so difficult to rely on small-scale manufacturers, such small-scale play in the investment and financing capacity, human resource inputs experimental conditions and in other aspects there are problems, so I thought of this as an external standard To join oblige the standard, so do National Cheng Kung University team, is the commercialization of research is very important.
as long as there is a domino effect, as long as there is a business so there will be many businesses like this. So, in the past Our equipment manufacturing, including some of our other fixed products, manufacturing products such as our demonstration vehicle, it does not have such features, it has economies of scale.
to the extent that the reproduction of your loss of sales volume you , but you should pay attention to Microsoft's software to sell more the more you earn, but please note that the protection of the knowledge economy makes more enterprises to develop high-pass, as the development of a patent, what do you think the cost of his Therefore, manufacturers must only led to an enormous scale, increasing the marginal benefit is not an edge, and he hoped that the larger, certainly benefits the better, otherwise he could not support the technological innovation system with intellectual property protection policy or a relationship, so a few words to summarize the first to enter the mainstream.
Third, there are only two against 3G
Moderator Sun: We went down to talk about this matter, we slowly intervention go to the topic, and we also talk about the big global telecom industry has undergone a wave, especially the new changes in market demand, we think a large domestic industry under the framework of telecommunications issues. That some of our less technical content of this , added value is not very high, this how we face the traditional challenges of this new, no matter 3G Ye Hao, including data services, many technology brings business opportunities to this one, including the question you just talk about the controversy for the 3G .
the integration of global telecommunications, how to deal with the Chinese telecommunications industry, the third is what the international community play a role. We are concerned about changes in China's telecom industry, China Mobile earlier this year, certainly holding the Phoenix The new media is an attempt of a transition Ye Hao, Ye Hao extension of the business. They try to recent acquisitions of large overseas operators, you are very concerned about China's telecom industry has been such a future development, how do you think of this variations.
POSTS: telecom industry on a global scale in recent years has indeed undergone significant changes in the performance of China Telecom's restructuring called. Just now you mentioned the first benefits of our operators are not particularly good now, this is right . Now they are effective as growth or growth in previous years, far less strong in previous years, the growth capacity of the old. may be only one China Mobile still maintained a high growth, there are several other shrinking phenomenon. However, our technologically advanced I beg to differ. China Telecom is basically with the international standards, because it was also suggested that China may no longer lagging behind on 3G, because no country to stop technological progress and technological progress, it is a fact.
then you mentioned the China Mobile acquired the shares of Phoenix Satellite Television, which is based upon the two other international initiatives of large companies, but also find a consulting company to do a thorough analysis of the decisions taken. First, South Korean SK Telecom South Korea bought a film studio, bought a bank. followed by Japan's NTT acquisition of Fuji Television, the problem mentioned is very good. it's on the 3G communication industry against two kinds of people.
One is very traditional telecommunications, and he did a lifetime telecommunications, he could not understand why the 3G, that network strong manageability, controllability, the network is intelligent, railway signals are professional, control and management. so this is called networking and Ministry of Railways did not separate the business he must operate the passenger transport network and network operation, his own business, is one such traditional structures. So many people take this business to go in 3G, then you spend billions of dollars, you spend tens of billions of dollars. We telephone network 80%, 90% of our business comes from the voice of business, you may not use the 3G.
there is a pure group of people who engage in the Internet, then he thinks the network is transparent tube, do not control, not management. Users go after that line, and that if the case, your concept of this communication have anything to do with me here, you should go to solve the problem of unlimited access, the only two people opposed to 3G, but I want to say that the first generation of mobile communications with a way to solve the short remote analog voice communication.
Fourth, network, telecommunications industry trend of separation and entertainment, the media industry and commerce of the three Fusion
provide a second-generation digital voice solution, short remote voice communications. But in the same period in the development of two generations of the network, the other big industry is the development of the Internet industry. We talk about the early Internet-based call computer network, or even open to the public network since we know that this network is a person to communicate with the machine, I click on Sohu, Sohu is actually a server to communicate with, click on Taobao Taobao is now a server communication.
so Some people say why the Internet have to return home, back to the office, we should close at hand. We mention this bandwidth is not enough, because after all, is based on the 2-generation goals. so it is not adapted to these communications, after all, so it appears the third generation. If you know the technology, from the application point of view not only solve the short remote communication, but also to resolve human-machine communication. especially a lot of IT industry, including very senior people are not clear. we do in the future The core is the concept of the.
IP technology, Internet technology has created a separate network industry, so that many operators we do not understand, but also do not understand radio and television departments, including the IPTV, can now say that the TV machine set-top boxes can not add the Internet, there is no way that requires you to do. First of all I said was I bought my TV set, you can stop. this kind of thing you want to control him, you can control you?
So I think one point, that they should not be owned by the telecommunications industry and broadcasting industry to the traditional IT industry. way of thinking has not changed, the network broadcasting industry is not the most obvious separation of the industry, now in his possession to your terminal, you see do you see the contents of the Internet industry, the content whose transmission line, which is not in control. Therefore, the entire IT industry, including the traditional IT industry, must be separated network industry.
Not long ago I wrote a very important report, senior leaders are seen. called separation of three networks, IP technology brings is now an industrial chain, not your family-take-all, you have to tolerate this. National Development is very good, government regulation is correct. After the separation will not affect, the network on which the site by the customer to choose a government to increase, due to the separation of network industries, you should strengthen the supervision of channels, the channel now has a strong government control, so There is no worry about the problems brought about necessary. We are always looking for a concept, rather than saying to me to this business model not the same as the traditional model, this is wrong. You talk about the issue particularly well, back to just said that China Mobile to acquire Phoenix, I say a lot of examples, the telecommunications industry is now three major trends of its development trend. telecommunication industry with the integration of the media industry, telecommunications industry is the integration of the entertainment industry, the telecommunications industry with the integration of the three major business trend.
five, content is king on the Internet's still not possible channels for Wang
I can be an example, operators very nervous, technology advances more and more appeared in voice technology, and I live to live not by the voice go on, I think the lack of ideas to date. You talked about 5 years who died by the voice will come. We are now protecting basic telecommunications, but the technology business opportunities is no stopping. I will go to start your multimedia services market, as well as 3G market.
chocolate unpopular in Europe in recent years, and finally consulted hindered the development of telecommunications that is his development. per capita disposable income has not changed, but the mobile Phone consumption significantly increased consumption of the Internet and found that there is no provincial money to eat, wear clothes, there is no provincial money, then he saved money by eating chocolate. And then your voice make money vain.
I last year a number of distribution channels, technology, operators are not doing your content, you are an information transfer services, like transport operation industry. But now the emergence of human-computer communication network to jump out of this voice message. to gradually make the figures internal distribution channels. why, like business, would like the entertainment, would like the media to the trend of convergence, but if, as a distribution channel, for example, there are two operators do work is original, and one is the integration of content, you sell content, your content come from, a lot of content on the shop have a procurement process.
second is the sale of content, voice, no sales function. you cf China Post newspapers and magazines about the issue, itself is a way of third-party service, but have a lot of newspapers, magazines and newspapers every year Who is your postal order. So then the next transition in the mobile industry chain, there have been a big problem, Sohu's Zhang ask how I am. If the mobile portal, which is not to die, then what he says is not without reason, the international community not only theoretical analysis is the case, even the case of Japan (in English) makes the content of operators in Japan service platform, multimedia platform, has CP, operators, they put the SP were getting their own.
but I also want to tell you that the model is not unique, but now more and more exposed the shortcomings of their own, because the content of the information age can be artificially created, so the classification of content management, and is now very particular about precision strikes, carriers for different customers it is very difficult to do. while you do the integration of content, if content, there are some unscrupulous merchants, for instance, put some content harmful to society, then from us looking for you in terms of regulatory policy, the trouble, operators can realize that there is no movement of SP, he may do this a small scale. the future He wanted a strong partner, is outsourcing some specific content integrators, with the operators, he does not want to monopolize this market, but also contrary to the characteristics of the Internet industry's largest business network separation. networks and services should be a separation of chain.
communications infrastructure is a typical, but because of man-machine communication appears it into the car industry. Central Television has a garage debate, experts say that we put aside the last car is polluting, but the West says will drive car the development of many industries, so we as road traffic than the Internet, you see the effect of 3G itself is very small, is a stage, but the stage is different from other stage, he is a high-speed road, will drive the development of society as a whole.
How can you not think Sohu Internet technology, he's created out of thin air out of some industries, so you have to jump out of the traditional vision of telecommunications, bringing the transition we just need to talk about telecommunications, so I think it is more important transformation is the transformation concept.
Moderator sun: that is to bring to the industry, the emergence of a new industry?
POSTS: this phenomenon we prefer to call it induced growth relationship, which can induce the growth of the growth of other industries, there is a relationship called the spread, we called the sex drive. telecommunications industry, we feel that now is not only short remote communication, but also keep this communication. and walking on two legs after the man-machine communication, the existing infrastructure effect, another leading role, the industry has become very unique. is the relationship between economics, the relationship, so we feel that 3G is certainly not the 3G has better technology solutions, as well as 4G. But the emergence of any technology must not an accident, the other way round one of the most core competence is the progress of science and technology have brought the necessary transition operator, in the end Who will make the market reshuffle, in fact, not a science and technology needs, we appeared in Shenzhou, Shenzhou VI .
example, we see that technological progress has brought the decline of some industries, such as Kodak, the World Cup do not see Kodak's market, beat him he is his own invention of the digital camera, digital camera technology is the fact a revolutionary technology, this technology allows more people to become a photography expert, there are some you can not stop technological progress, it creates a lot of industrial opportunities.
POSTS: open competition in the telecommunications market will be at a loss, can not put up this new technology-based business platform. winner takes all, operators only provide more services to his clients before they can lock
operators to develop business at the enterprise level, social level, not to create a good atmosphere.
operators should be aware of their characteristics, and more market-oriented, understanding of customer needs, which in terms of the operators is a difficult question, but also a very critical issue.
chair man the sun: I said not to say that he used the technical content of the network cable platform is less advanced, quite the contrary is an invention of our Chinese nation, but we in the procurement of equipment, including network that, I think we are the world's most advanced operating in fact, I mean to say we are promoting, I personally believe it is a new technology based on new communication products Ye Hao, Ye Hao telecommunications products, including our new media, from voice to data services, including changes in I personally think that this new technology based on the use of new products, this is not enough to create.
I saw your recent article written to appeal to see our piece of telecom value-added services. We see SMS messages hot, what our future 3G there, I think, we can not extend this topic to update some of the topics, such as the Internet culture and traditional culture, just the problem of digging the grave for the latter. This is not our operators block seems a little slow pace.
six, the bigger winner-take-
POSTS: Do you mention this very right, if we open competition in the telecommunications market would be a loss, can not be based on this new put up a platform technology business. I give two examples, two major Chinese operator China Mobile, two characteristics that we are talking about a marginal effect is increasing, so the winner takes all, so operators have more services Therefore, customers can lock him.
but please note that your carrier in China, you will see China Unicom's data services capabilities, is that he's stronger than the 2.75-generation CDMA mobile. but he was in the data business more moves, so the Chinese mobile industry but will lead to price competition into the market to provide richer communications services, such as mobile positioning, mobile platform and if not, then can not do on the 3G, the error is very large. But China Unicom can do it well. there are a lot of location-based, but conversely do very fine Unicom, and I think they want to use the data this is the right direction. Our carriers do innovation in business there are still gaps , but I think from another perspective, in addition to operators, their own problems, we have some policy issues, policy issues, including IPTV, I have just talked about the problem, the Government has not issued a license, he would like to use IPTV, We are now princes pattern, you can not into my lap, I can not into your lap, in fact, the concept of IPTV to bring this issue, we impede the development of new business.
In addition, we have some developed applications in the social atmosphere, we just talked about the enterprise level, social level, not to create a good atmosphere. Let me give a recent example, a completely a social phenomenon, I recently saw a report last year, a major channel of CCTV, two channels , these news channels, including Phoenix several mainstream media, intensive, ten times the so-called SMS Web site reported. This business is a very good hotel if I want, I sent the hotel to the 50120, I put the two restaurants word up, and one I recommend to set Cantonese so and so, why recommend to him? because he gave me to pay. this thing does not do a very good year together. what?
out over a case, there SMS Web site for a look at a guy there, he took Quanjude, Alibaba registered. But Ma said I wanted to come back, dig the guy said 10 million. Ali Baba was defeated, but the young man said give me 30 million . Alibaba second time win, do not give a penny and sentenced young man this thing to the people. I think this is a new issue worth exploring, but we put aside the law, I am not particularly understand the law, from the business operational point of view, if we from the social issues, we can guarantee the development of the SMS Web site, a huge business opportunity in it. Internet, nobody can register here, if you let me up, I do not know why . you want me thousands of dollars in service charges, I would not. If one day I want to come back Quanjude name, you say hundreds of thousands, we have 30 million laws you can not have, and I was sentenced to 10 million 10 million . should still be in favor of this young man, also 10 million. Alibaba 100,000 to buy think I bought what I do not come back, but do not buy I was worried about the SMS Web site after it useful, so will stimulate the use of SMS, the market will be up.
I feel that is a misleading, if the young man sentenced to win, is definitely very hot. appeared in the wave of cybersquatting, can call on the name everyone called, I heard of this situation, we I do not have the name I first registered, for example, three words you send to 50120 POSTS, this very interesting.
did not control the government, businesses do not know how to get, but our understanding of the whole community lacking, so some markets, can not do some good business together, we stressed that mobile commerce, mobile commerce messaging is particularly good engine. I do not know you is not registered, I want to say is that we build a multi-angle is missing, this country in this respect I think we should pay attention at all levels, but operators bear the brunt of a lot of effort in this aspect.
they are weak because they were originally government monopolies, competition was not fully. outsiders often said that you are monopolizing the industry, but operators say you do not know what we are labeled, how much pressure. I a student in a province, as vice president of carrier, he told me, I just point When I was here who is leading in the above statement I, the people who play the game, and now have white hair. You can see how much pressure, because your industry is state-controlled, if only an investment can not be fully competitive If the knot disease in this place, but the other way round, communication is very sensitive to the industry involves a lot of problems. can not make you full competition, so the industry continued the oligarchs are common in any industry, the Government has a strong management of this business.
you want to buy the U.S. telecommunications company, he will come out of Congress to obstruct China's acquisition of a company to the U.S. companies like absolutely such a problem. This requires our business you clear your character, then how do you more market-oriented understanding of customer needs, the terms for our carriers is a difficult question, which is very crucial question.
seven, the next step SP to otherwise die or else alive and well
Zou Mountain: China Mobile, the control of the industry is very clear that what happened recently, he set up a wireless alliance. The struggle between price and the SP, now we know very SP has been more than a dead end, and they do not know how to do? In this case you think China Mobile on this issue we have is what kind of position, while the development of the industrial chain, what kind of role, is to prevent role is conducive to its role in development or transition issues, are now facing a severe contraction voice. I do not know how you see this?
POSTS: now Purge SP's business, I was doing National Natural Science Foundation of business, is data analysis. We believe that operators should be able to survive, but we say that from an economic point of view, so I spent a few hundred dollars a month is actually a very good transfer, then this is the case, SP operators do not make money, this was wrong.
I say this means that I would also like to tell you, I judge these mobile operators, China Mobile to become a police officer in this area. This is reasonable or not is questionable in itself a problem. Please note that not bad but China Mobile, you control him, he just pipe the following SP, we are speaking a little later why he was so strong, depending on the network, China is now doing these I just said is not in Japan's mobile portal, which is the take-all.
so early, when China Mobile, the target gathered in the voice business, and later had a permit SP development. First of all I say or else SP death, otherwise alive and well, this as we figure 0,1. there are many good people that live is a good, if not immediately die live. This is now unstable, this instability industry adversely. This should be a must.
that China Mobile has a desire to profit, that is income, I sell you this magazine, and sell you a song, and I want more and more into proportion. of course, SP, CP does not agree, move on out of a different problem. So to return to a question from a sense, we judge that he would like to pass such a model SP, CP powerful control to an adjustment, if adjustment done to exterminate all of the portal, SP did not exterminate.'ll find a few powerful companies, so I think only through this as a lever or the adjustment means.
so some people China Mobile asked why so much control, if we check, I talked to several experts, there is a strong debate, making clothes to make money without selling clothes, household appliances you want to sell the United States, then you enter into your country the United States but also give you a bill for three months, billions of water every day, he took your money. there Ordos sweater or something, this is the purpose of the Chinese government restrictions, should you hit the retail channel cross, he said you can not find me, but I look 10 million in cash to you, who can do this.
in any business, he has to control the core capital, while the content in the Internet industry, and never may be king, only the channels will be king. so this is the digital distribution channels, the future control of the whole industrial chain, but the results of our analysis is that the case can make up the voice down, do not access the money from the content into . from a business model perspective, operators are laying the groundwork for a future business model, I think there is a long-term objective.
eight fixed monthly package should cancel the monthly fee system is also the second best
a fixed line, mobile phone is not suitable for packages, but the fixed-line telephone for packages. Some people say that even so can not increase revenue, but my home phone is monthly, and do not fight the white does not play, and if so I try to use the fixed phone call, more people to give what you do ring tones, value-added services to increase. China has a problem of regional economic differences between China's urban-rural differences in different regions of the larger, so I think we are faster to implement, this is a self-help program.
Moderator Sunshine: Thank you very much today POSTS wonderful teacher interviews, because of the time, today's interview on here. Thank you!
POSTS: Thank you, we have time to talk later!
POSTS: netizens Good morning, very pleased to share with you Sohu.
A , the global telecom equipment magnate shuffle rather than new technology is the demand-driven incentive sun
Moderator: Professor Lui is a very deep penetration of the communications industry experts, the first half of this year, the international global M & A wave surging, the traditional telecom industry integration phase may be at low tide, you think it is based on what kind of background, the outbreak of such a consolidation wave?
POSTS: It should be said from the beginning to the second half of the first half of last year, the big telecom equipment manufacturing Business has been mergers and acquisitions, Alcatel and Lucent, Nokia and Siemens are all carried out integration. so, including the community, including operators, are very concerned about the integration, so I think this integration of several features:
Global Telecom equipment manufacturers have begun to re-shuffle, shuffle the fuse that can be traced back to early last year, the United States a hundred years old (AT & T) to sell Simon Bell this event, we give the teaching of MBA students also said that case, some students said that demand, some people say that the trend of technological development, and others so that the regulatory rules.
but in fact, result in the telecom market reshuffle the most important factor is technological progress. We Recalling the history of AT & T, AT & T has 100 years of history, a century of development, the demand for development, despite the early 80s the United States has successfully integrated the AT & T, but it did not find a better profit growth point. What led him to weaken it? is the emergence of IP phones.
Bell Laboratories invented the cellular phone is the first research institutions, but they made a miscalculation, they think that IP is no market for resale to to the other companies, and then find the Motorola, Motorola in Chicago, the country's first set of test calls.
Second, 3G market opportunities in China continue to subvert the market
technology, this technology also is characterized with a take-all, we recently did a seminar in the conference, I specifically made a point of view, a lot of people are skeptical of China's CDMA, the government also tried some domestic manufacturers to promote the TD-SCDMA technology.
I think an important issue to address, some operators say that experiment is not successful, China Unicom was founded in 1994, citing the GSM, slowly adapting and mature. I think the technology and externalities are related and what is outside sex? tell a popular example, I have cats, dogs and fun, but the neighbors happy, and what paper, affecting the river downstream, these are external issues, communication is performed outside of strong, if the phone, for example, a person with my own phone, to no avail. If my relatives and friends have a cell phone, I tell them to contact, then the world has a mobile phone, I can contact them by. CDMA2000 is the best from the best in terms of advanced technology, the transition is relatively smooth.
but 80% of the market are GMS, resulting in a global market share of CDMA2000 few. There are often run abroad roaming, I would like to bring two mobile phones, multi-mode high cost. So we say that something is not the most advanced technology, the best thing, has a strong destructive. the failure of the U.S. CDMA, gradually shrinking the lessons of the market Tell us why so many countries in Europe will join together to develop new standards, the introduction of a European standard, which is called standard market diffusion capacity, directly affect the diffusion capacity of the WCDMA market.
GSM accounts for 80% of market. I say so that everyone would understand why the roaming user is very convenient, he can go to 80% of the region in the world can use all the advantages of Caesar led to his expanding power, led to his market power. Therefore, integration of markets, a rapid upgrading of communication technologies means that the need for a strong R & D team, in fact, China's TD devoted a lot of investment in the State, but also expect a lot of enterprises to participate, but I want to tell you a data, there A proportion of this is when we survey people abroad tell me, if I put a standard proposed by a billion, mainly because the standard of the initial research and development, but I might put up ten one hundred million patent registration. In addition there are the patent is not enough light The third phase of the R & D to invest 100 billion, corresponding to the technical people have to invest.
we voted in a million received international recognition, but the 10 million we do not, and now we have invested 100 million the products come out, this investment is very large. Now that the international manufacturers, even if you have the patent registered, you have a product, I strongly based on your note this thing a patent. Internationally, each other free of royalties , China has no patent, you buy someone else's. But China now has had the ability, you can participate in the club, but found that the 100 billion later, this is a relationship between the proportion of 1 to 10. then this investment is huge, so difficult to rely on small-scale manufacturers, such small-scale play in the investment and financing capacity, human resource inputs experimental conditions and in other aspects there are problems, so I thought of this as an external standard To join oblige the standard, so do National Cheng Kung University team, is the commercialization of research is very important.
as long as there is a domino effect, as long as there is a business so there will be many businesses like this. So, in the past Our equipment manufacturing, including some of our other fixed products, manufacturing products such as our demonstration vehicle, it does not have such features, it has economies of scale.
to the extent that the reproduction of your loss of sales volume you , but you should pay attention to Microsoft's software to sell more the more you earn, but please note that the protection of the knowledge economy makes more enterprises to develop high-pass, as the development of a patent, what do you think the cost of his Therefore, manufacturers must only led to an enormous scale, increasing the marginal benefit is not an edge, and he hoped that the larger, certainly benefits the better, otherwise he could not support the technological innovation system with intellectual property protection policy or a relationship, so a few words to summarize the first to enter the mainstream.
Third, there are only two against 3G
Moderator Sun: We went down to talk about this matter, we slowly intervention go to the topic, and we also talk about the big global telecom industry has undergone a wave, especially the new changes in market demand, we think a large domestic industry under the framework of telecommunications issues. That some of our less technical content of this , added value is not very high, this how we face the traditional challenges of this new, no matter 3G Ye Hao, including data services, many technology brings business opportunities to this one, including the question you just talk about the controversy for the 3G .
the integration of global telecommunications, how to deal with the Chinese telecommunications industry, the third is what the international community play a role. We are concerned about changes in China's telecom industry, China Mobile earlier this year, certainly holding the Phoenix The new media is an attempt of a transition Ye Hao, Ye Hao extension of the business. They try to recent acquisitions of large overseas operators, you are very concerned about China's telecom industry has been such a future development, how do you think of this variations.
POSTS: telecom industry on a global scale in recent years has indeed undergone significant changes in the performance of China Telecom's restructuring called. Just now you mentioned the first benefits of our operators are not particularly good now, this is right . Now they are effective as growth or growth in previous years, far less strong in previous years, the growth capacity of the old. may be only one China Mobile still maintained a high growth, there are several other shrinking phenomenon. However, our technologically advanced I beg to differ. China Telecom is basically with the international standards, because it was also suggested that China may no longer lagging behind on 3G, because no country to stop technological progress and technological progress, it is a fact.
then you mentioned the China Mobile acquired the shares of Phoenix Satellite Television, which is based upon the two other international initiatives of large companies, but also find a consulting company to do a thorough analysis of the decisions taken. First, South Korean SK Telecom South Korea bought a film studio, bought a bank. followed by Japan's NTT acquisition of Fuji Television, the problem mentioned is very good. it's on the 3G communication industry against two kinds of people.
One is very traditional telecommunications, and he did a lifetime telecommunications, he could not understand why the 3G, that network strong manageability, controllability, the network is intelligent, railway signals are professional, control and management. so this is called networking and Ministry of Railways did not separate the business he must operate the passenger transport network and network operation, his own business, is one such traditional structures. So many people take this business to go in 3G, then you spend billions of dollars, you spend tens of billions of dollars. We telephone network 80%, 90% of our business comes from the voice of business, you may not use the 3G.
there is a pure group of people who engage in the Internet, then he thinks the network is transparent tube, do not control, not management. Users go after that line, and that if the case, your concept of this communication have anything to do with me here, you should go to solve the problem of unlimited access, the only two people opposed to 3G, but I want to say that the first generation of mobile communications with a way to solve the short remote analog voice communication.
Fourth, network, telecommunications industry trend of separation and entertainment, the media industry and commerce of the three Fusion
provide a second-generation digital voice solution, short remote voice communications. But in the same period in the development of two generations of the network, the other big industry is the development of the Internet industry. We talk about the early Internet-based call computer network, or even open to the public network since we know that this network is a person to communicate with the machine, I click on Sohu, Sohu is actually a server to communicate with, click on Taobao Taobao is now a server communication.
so Some people say why the Internet have to return home, back to the office, we should close at hand. We mention this bandwidth is not enough, because after all, is based on the 2-generation goals. so it is not adapted to these communications, after all, so it appears the third generation. If you know the technology, from the application point of view not only solve the short remote communication, but also to resolve human-machine communication. especially a lot of IT industry, including very senior people are not clear. we do in the future The core is the concept of the.
IP technology, Internet technology has created a separate network industry, so that many operators we do not understand, but also do not understand radio and television departments, including the IPTV, can now say that the TV machine set-top boxes can not add the Internet, there is no way that requires you to do. First of all I said was I bought my TV set, you can stop. this kind of thing you want to control him, you can control you?
So I think one point, that they should not be owned by the telecommunications industry and broadcasting industry to the traditional IT industry. way of thinking has not changed, the network broadcasting industry is not the most obvious separation of the industry, now in his possession to your terminal, you see do you see the contents of the Internet industry, the content whose transmission line, which is not in control. Therefore, the entire IT industry, including the traditional IT industry, must be separated network industry.
Not long ago I wrote a very important report, senior leaders are seen. called separation of three networks, IP technology brings is now an industrial chain, not your family-take-all, you have to tolerate this. National Development is very good, government regulation is correct. After the separation will not affect, the network on which the site by the customer to choose a government to increase, due to the separation of network industries, you should strengthen the supervision of channels, the channel now has a strong government control, so There is no worry about the problems brought about necessary. We are always looking for a concept, rather than saying to me to this business model not the same as the traditional model, this is wrong. You talk about the issue particularly well, back to just said that China Mobile to acquire Phoenix, I say a lot of examples, the telecommunications industry is now three major trends of its development trend. telecommunication industry with the integration of the media industry, telecommunications industry is the integration of the entertainment industry, the telecommunications industry with the integration of the three major business trend.
five, content is king on the Internet's still not possible channels for Wang
I can be an example, operators very nervous, technology advances more and more appeared in voice technology, and I live to live not by the voice go on, I think the lack of ideas to date. You talked about 5 years who died by the voice will come. We are now protecting basic telecommunications, but the technology business opportunities is no stopping. I will go to start your multimedia services market, as well as 3G market.
chocolate unpopular in Europe in recent years, and finally consulted hindered the development of telecommunications that is his development. per capita disposable income has not changed, but the mobile Phone consumption significantly increased consumption of the Internet and found that there is no provincial money to eat, wear clothes, there is no provincial money, then he saved money by eating chocolate. And then your voice make money vain.
I last year a number of distribution channels, technology, operators are not doing your content, you are an information transfer services, like transport operation industry. But now the emergence of human-computer communication network to jump out of this voice message. to gradually make the figures internal distribution channels. why, like business, would like the entertainment, would like the media to the trend of convergence, but if, as a distribution channel, for example, there are two operators do work is original, and one is the integration of content, you sell content, your content come from, a lot of content on the shop have a procurement process.
second is the sale of content, voice, no sales function. you cf China Post newspapers and magazines about the issue, itself is a way of third-party service, but have a lot of newspapers, magazines and newspapers every year Who is your postal order. So then the next transition in the mobile industry chain, there have been a big problem, Sohu's Zhang ask how I am. If the mobile portal, which is not to die, then what he says is not without reason, the international community not only theoretical analysis is the case, even the case of Japan (in English) makes the content of operators in Japan service platform, multimedia platform, has CP, operators, they put the SP were getting their own.
but I also want to tell you that the model is not unique, but now more and more exposed the shortcomings of their own, because the content of the information age can be artificially created, so the classification of content management, and is now very particular about precision strikes, carriers for different customers it is very difficult to do. while you do the integration of content, if content, there are some unscrupulous merchants, for instance, put some content harmful to society, then from us looking for you in terms of regulatory policy, the trouble, operators can realize that there is no movement of SP, he may do this a small scale. the future He wanted a strong partner, is outsourcing some specific content integrators, with the operators, he does not want to monopolize this market, but also contrary to the characteristics of the Internet industry's largest business network separation. networks and services should be a separation of chain.
communications infrastructure is a typical, but because of man-machine communication appears it into the car industry. Central Television has a garage debate, experts say that we put aside the last car is polluting, but the West says will drive car the development of many industries, so we as road traffic than the Internet, you see the effect of 3G itself is very small, is a stage, but the stage is different from other stage, he is a high-speed road, will drive the development of society as a whole.
How can you not think Sohu Internet technology, he's created out of thin air out of some industries, so you have to jump out of the traditional vision of telecommunications, bringing the transition we just need to talk about telecommunications, so I think it is more important transformation is the transformation concept.
Moderator sun: that is to bring to the industry, the emergence of a new industry?
POSTS: this phenomenon we prefer to call it induced growth relationship, which can induce the growth of the growth of other industries, there is a relationship called the spread, we called the sex drive. telecommunications industry, we feel that now is not only short remote communication, but also keep this communication. and walking on two legs after the man-machine communication, the existing infrastructure effect, another leading role, the industry has become very unique. is the relationship between economics, the relationship, so we feel that 3G is certainly not the 3G has better technology solutions, as well as 4G. But the emergence of any technology must not an accident, the other way round one of the most core competence is the progress of science and technology have brought the necessary transition operator, in the end Who will make the market reshuffle, in fact, not a science and technology needs, we appeared in Shenzhou, Shenzhou VI .
example, we see that technological progress has brought the decline of some industries, such as Kodak, the World Cup do not see Kodak's market, beat him he is his own invention of the digital camera, digital camera technology is the fact a revolutionary technology, this technology allows more people to become a photography expert, there are some you can not stop technological progress, it creates a lot of industrial opportunities.
POSTS: open competition in the telecommunications market will be at a loss, can not put up this new technology-based business platform. winner takes all, operators only provide more services to his clients before they can lock
operators to develop business at the enterprise level, social level, not to create a good atmosphere.
operators should be aware of their characteristics, and more market-oriented, understanding of customer needs, which in terms of the operators is a difficult question, but also a very critical issue.
chair man the sun: I said not to say that he used the technical content of the network cable platform is less advanced, quite the contrary is an invention of our Chinese nation, but we in the procurement of equipment, including network that, I think we are the world's most advanced operating in fact, I mean to say we are promoting, I personally believe it is a new technology based on new communication products Ye Hao, Ye Hao telecommunications products, including our new media, from voice to data services, including changes in I personally think that this new technology based on the use of new products, this is not enough to create.
I saw your recent article written to appeal to see our piece of telecom value-added services. We see SMS messages hot, what our future 3G there, I think, we can not extend this topic to update some of the topics, such as the Internet culture and traditional culture, just the problem of digging the grave for the latter. This is not our operators block seems a little slow pace.
six, the bigger winner-take-
POSTS: Do you mention this very right, if we open competition in the telecommunications market would be a loss, can not be based on this new put up a platform technology business. I give two examples, two major Chinese operator China Mobile, two characteristics that we are talking about a marginal effect is increasing, so the winner takes all, so operators have more services Therefore, customers can lock him.
but please note that your carrier in China, you will see China Unicom's data services capabilities, is that he's stronger than the 2.75-generation CDMA mobile. but he was in the data business more moves, so the Chinese mobile industry but will lead to price competition into the market to provide richer communications services, such as mobile positioning, mobile platform and if not, then can not do on the 3G, the error is very large. But China Unicom can do it well. there are a lot of location-based, but conversely do very fine Unicom, and I think they want to use the data this is the right direction. Our carriers do innovation in business there are still gaps , but I think from another perspective, in addition to operators, their own problems, we have some policy issues, policy issues, including IPTV, I have just talked about the problem, the Government has not issued a license, he would like to use IPTV, We are now princes pattern, you can not into my lap, I can not into your lap, in fact, the concept of IPTV to bring this issue, we impede the development of new business.
In addition, we have some developed applications in the social atmosphere, we just talked about the enterprise level, social level, not to create a good atmosphere. Let me give a recent example, a completely a social phenomenon, I recently saw a report last year, a major channel of CCTV, two channels , these news channels, including Phoenix several mainstream media, intensive, ten times the so-called SMS Web site reported. This business is a very good hotel if I want, I sent the hotel to the 50120, I put the two restaurants word up, and one I recommend to set Cantonese so and so, why recommend to him? because he gave me to pay. this thing does not do a very good year together. what?
out over a case, there SMS Web site for a look at a guy there, he took Quanjude, Alibaba registered. But Ma said I wanted to come back, dig the guy said 10 million. Ali Baba was defeated, but the young man said give me 30 million . Alibaba second time win, do not give a penny and sentenced young man this thing to the people. I think this is a new issue worth exploring, but we put aside the law, I am not particularly understand the law, from the business operational point of view, if we from the social issues, we can guarantee the development of the SMS Web site, a huge business opportunity in it. Internet, nobody can register here, if you let me up, I do not know why . you want me thousands of dollars in service charges, I would not. If one day I want to come back Quanjude name, you say hundreds of thousands, we have 30 million laws you can not have, and I was sentenced to 10 million 10 million . should still be in favor of this young man, also 10 million. Alibaba 100,000 to buy think I bought what I do not come back, but do not buy I was worried about the SMS Web site after it useful, so will stimulate the use of SMS, the market will be up.
I feel that is a misleading, if the young man sentenced to win, is definitely very hot. appeared in the wave of cybersquatting, can call on the name everyone called, I heard of this situation, we I do not have the name I first registered, for example, three words you send to 50120 POSTS, this very interesting.
did not control the government, businesses do not know how to get, but our understanding of the whole community lacking, so some markets, can not do some good business together, we stressed that mobile commerce, mobile commerce messaging is particularly good engine. I do not know you is not registered, I want to say is that we build a multi-angle is missing, this country in this respect I think we should pay attention at all levels, but operators bear the brunt of a lot of effort in this aspect.
they are weak because they were originally government monopolies, competition was not fully. outsiders often said that you are monopolizing the industry, but operators say you do not know what we are labeled, how much pressure. I a student in a province, as vice president of carrier, he told me, I just point When I was here who is leading in the above statement I, the people who play the game, and now have white hair. You can see how much pressure, because your industry is state-controlled, if only an investment can not be fully competitive If the knot disease in this place, but the other way round, communication is very sensitive to the industry involves a lot of problems. can not make you full competition, so the industry continued the oligarchs are common in any industry, the Government has a strong management of this business.
you want to buy the U.S. telecommunications company, he will come out of Congress to obstruct China's acquisition of a company to the U.S. companies like absolutely such a problem. This requires our business you clear your character, then how do you more market-oriented understanding of customer needs, the terms for our carriers is a difficult question, which is very crucial question.
seven, the next step SP to otherwise die or else alive and well
Zou Mountain: China Mobile, the control of the industry is very clear that what happened recently, he set up a wireless alliance. The struggle between price and the SP, now we know very SP has been more than a dead end, and they do not know how to do? In this case you think China Mobile on this issue we have is what kind of position, while the development of the industrial chain, what kind of role, is to prevent role is conducive to its role in development or transition issues, are now facing a severe contraction voice. I do not know how you see this?
POSTS: now Purge SP's business, I was doing National Natural Science Foundation of business, is data analysis. We believe that operators should be able to survive, but we say that from an economic point of view, so I spent a few hundred dollars a month is actually a very good transfer, then this is the case, SP operators do not make money, this was wrong.
I say this means that I would also like to tell you, I judge these mobile operators, China Mobile to become a police officer in this area. This is reasonable or not is questionable in itself a problem. Please note that not bad but China Mobile, you control him, he just pipe the following SP, we are speaking a little later why he was so strong, depending on the network, China is now doing these I just said is not in Japan's mobile portal, which is the take-all.
so early, when China Mobile, the target gathered in the voice business, and later had a permit SP development. First of all I say or else SP death, otherwise alive and well, this as we figure 0,1. there are many good people that live is a good, if not immediately die live. This is now unstable, this instability industry adversely. This should be a must.
that China Mobile has a desire to profit, that is income, I sell you this magazine, and sell you a song, and I want more and more into proportion. of course, SP, CP does not agree, move on out of a different problem. So to return to a question from a sense, we judge that he would like to pass such a model SP, CP powerful control to an adjustment, if adjustment done to exterminate all of the portal, SP did not exterminate.'ll find a few powerful companies, so I think only through this as a lever or the adjustment means.
so some people China Mobile asked why so much control, if we check, I talked to several experts, there is a strong debate, making clothes to make money without selling clothes, household appliances you want to sell the United States, then you enter into your country the United States but also give you a bill for three months, billions of water every day, he took your money. there Ordos sweater or something, this is the purpose of the Chinese government restrictions, should you hit the retail channel cross, he said you can not find me, but I look 10 million in cash to you, who can do this.
in any business, he has to control the core capital, while the content in the Internet industry, and never may be king, only the channels will be king. so this is the digital distribution channels, the future control of the whole industrial chain, but the results of our analysis is that the case can make up the voice down, do not access the money from the content into . from a business model perspective, operators are laying the groundwork for a future business model, I think there is a long-term objective.
eight fixed monthly package should cancel the monthly fee system is also the second best
a fixed line, mobile phone is not suitable for packages, but the fixed-line telephone for packages. Some people say that even so can not increase revenue, but my home phone is monthly, and do not fight the white does not play, and if so I try to use the fixed phone call, more people to give what you do ring tones, value-added services to increase. China has a problem of regional economic differences between China's urban-rural differences in different regions of the larger, so I think we are faster to implement, this is a self-help program.
Moderator Sunshine: Thank you very much today POSTS wonderful teacher interviews, because of the time, today's interview on here. Thank you!
POSTS: Thank you, we have time to talk later!
Sunday, December 26, 2010
Still wait and see on the weak! (0202 assessment revenue)
In the Jan. 22 article Transfer the broader market has been formed to effectively break this trend to light in the Zhou Bowen expressed very clearly in the policy side of the high uncertainty and the Fund continue to adjust positions to run is the main reason for the broader market!
sharp rebound in U.S. stocks overnight, especially The dollar index began to appear after the continuous adjustment of strength caused by a rebound in commodity futures prices, in the opening 9:30 before the Shanghai copper, Shanghai aluminum, etc. have opened higher (futures from 9:00 am onwards), seems to presage the short-term non-ferrous metals and coal sector will lead the broader market started a rally, at 10:30 before the tape is indeed out of the wave guide of the stock market heavyweights, Zijin Mining, Chenzhou Mining is the impact of the daily limit was also oversold the real estate sector led to strong, But from 10:30, the market has not enlarged the amount of energy, we can see a lot of stocks have a pulse then the rocket launch, but the amount of energy has continued to shrink, which also foreshadowed the afternoon diving, time-sharing map this time from 11:00-11:30 am the first hour of the market's Liangnengbuzu half of the index adjustment did not have too large, which is bound to the market two signals: one is not the main funding in rebound, the second is ascribed to shrinkage choice to lighten up a rebound. This is probably the vast majority of investors the morning of the disk to the most intuitive feelings, and if the opening afternoon of the main launch an effective attack can not, lighten up position is still full of many fund-brainer choice, which is also a recent survey on fund managers to reduce their positions before the biggest surprise is the ; rebound, the reason is very simple!
tape that does not rise up from the other hand, the Fund that have not yet shaken off the things, the opportunity to take advantage of the best policy is no new negative external surface of the stock market rises sharply, so today, no matter from which funds are reducing positions in terms of a decreased while finding more tray. intraday we see whether it is represented by ICBC bank shares to Ping An Insurance shares represented or represented by Jiangxi Copper shares are out of resources to open higher, pull high, the trend of heavy volume adjustment, indicating that heavyweights can not get rid of short-term pattern of weakness, the market is still active in the major thematic investment products, the focus of major aspects of the market continues downward, the market has been completely formed on the 120 the effective date of the line break, step back to 2849 points in line has not much suspense, so we still have in the recent operation was on the cautious! the middle, I still think 3000 is a rare middle Jiancang the following opportunities, but not a good position to cover short positions, especially for buying rallies in the 3100 points or more investors, the author's proposal is short positions, or wet storage of investors on the current position or the center line near the line are better Jiancang location, high quilt is not necessary for investors to cover short positions, even as the broader market this critical line in the vicinity of the trend may be!
two heavy equipment that is broken on the first day the issue price has reached 4.2% decline, I can not help but sigh, the market Shares issued 60 times earnings is to do the deserved IPO and other large-cap stocks are in high spirits and I'll wait for the issue price of broken ware, anyway, grabbing the money has been achieved at high prices, the way to
my link: Bo's personal website
sharp rebound in U.S. stocks overnight, especially The dollar index began to appear after the continuous adjustment of strength caused by a rebound in commodity futures prices, in the opening 9:30 before the Shanghai copper, Shanghai aluminum, etc. have opened higher (futures from 9:00 am onwards), seems to presage the short-term non-ferrous metals and coal sector will lead the broader market started a rally, at 10:30 before the tape is indeed out of the wave guide of the stock market heavyweights, Zijin Mining, Chenzhou Mining is the impact of the daily limit was also oversold the real estate sector led to strong, But from 10:30, the market has not enlarged the amount of energy, we can see a lot of stocks have a pulse then the rocket launch, but the amount of energy has continued to shrink, which also foreshadowed the afternoon diving, time-sharing map this time from 11:00-11:30 am the first hour of the market's Liangnengbuzu half of the index adjustment did not have too large, which is bound to the market two signals: one is not the main funding in rebound, the second is ascribed to shrinkage choice to lighten up a rebound. This is probably the vast majority of investors the morning of the disk to the most intuitive feelings, and if the opening afternoon of the main launch an effective attack can not, lighten up position is still full of many fund-brainer choice, which is also a recent survey on fund managers to reduce their positions before the biggest surprise is the ; rebound, the reason is very simple!
tape that does not rise up from the other hand, the Fund that have not yet shaken off the things, the opportunity to take advantage of the best policy is no new negative external surface of the stock market rises sharply, so today, no matter from which funds are reducing positions in terms of a decreased while finding more tray. intraday we see whether it is represented by ICBC bank shares to Ping An Insurance shares represented or represented by Jiangxi Copper shares are out of resources to open higher, pull high, the trend of heavy volume adjustment, indicating that heavyweights can not get rid of short-term pattern of weakness, the market is still active in the major thematic investment products, the focus of major aspects of the market continues downward, the market has been completely formed on the 120 the effective date of the line break, step back to 2849 points in line has not much suspense, so we still have in the recent operation was on the cautious! the middle, I still think 3000 is a rare middle Jiancang the following opportunities, but not a good position to cover short positions, especially for buying rallies in the 3100 points or more investors, the author's proposal is short positions, or wet storage of investors on the current position or the center line near the line are better Jiancang location, high quilt is not necessary for investors to cover short positions, even as the broader market this critical line in the vicinity of the trend may be!
two heavy equipment that is broken on the first day the issue price has reached 4.2% decline, I can not help but sigh, the market Shares issued 60 times earnings is to do the deserved IPO and other large-cap stocks are in high spirits and I'll wait for the issue price of broken ware, anyway, grabbing the money has been achieved at high prices, the way to
my link: Bo's personal website
Wednesday, December 22, 2010
Isiah Thomas Isiah
Isiah. Thomas
sports: basketball
Team: Detroit Pistons
English name: Isiah Thomas
Born :1961-4-30
Height: 185
Weight: 84 kg
Country: United States
[personal history]
Isiah. Thomas April 30, 1961 born, height 1 meter 85, twice won the NBA championship, 12-time All-Star NBA teams 1984-1986 3-NBA selection in 1990, won the Finals MVP award. He and Bob. Marcoussis known as the two on the basketball court with the most incredible Isaiah. Thomas, with a boyish face, always with a smile. He was born in a slum west of Chicago, is home to nine children in the smallest. he will lead the school team of high school made the state competition champion. on the Indiana University after the famous coach Bobby. Knight's guidance, he advances a greater .1978, became the Pan American Games basketball gold medal winning U.S. team members students, selected in 1980 on behalf of the United States Basketball Olympic Games team, but the U.S. boycott of Moscow Olympics unable to do so won the Olympic gold medal. Thomas in 1981 first-round NBA draft pick by the Detroit Pistons second check, thus beginning his NBA career in Detroit at the time, No one can team up and down during the season average 20 points per game, but since Thomas began expanding the Pistons new force.
1984 years, they ushered in the famous coach Chuck. Daly. After years of grinding training, in 1988 Thomas led the Pistons finally broke into their first finals, due to lack of experience, to 3:4 loss to the Los Angeles Lakers. then in 1989 and 1990, live race team continues to dominate in the east, beat 2 in the last issue of the Chicago Bulls, and 2 degrees in the finals rule the roost, Thomas has finally completed his historical mission of the Detroit Pistons. Thomas, with his bright smile and a heart of stone to win the At that time, Thomas led the Detroit Pistons are all a heart of stone, is known as the 80 NBA NBA down the > Thomas the field like a never-ending gyro, he assists in scoring, steals and minutes played screening has ranked the Pistons on top. he exception of the last year, the 12-time All-Star team in eastern ,1984-1986, the continuous 3 time All-NBA, was named 1990 NBA Finals Most Valuable Player. Thomas is currently ranked in the total number of assists, In addition, at any point he was a shooting guard can one accurately. He makes surprise that the various shooting positions, acrobatics and lightning-like speed of cut so that the fans appreciate. Since Thomas will not play selfish, and Injured often tenacious game, so was elected Chairman of NBA Players Association, from the 80's until the early 90 May 11 In 1994, Thomas formally bid farewell to the NBA football sport, announced his retirement.
1998, Thomas was elected Fifty big star NBA history.
sports: basketball
Team: Detroit Pistons
English name: Isiah Thomas
Born :1961-4-30
Height: 185
Weight: 84 kg
Country: United States
[personal history]
Isiah. Thomas April 30, 1961 born, height 1 meter 85, twice won the NBA championship, 12-time All-Star NBA teams 1984-1986 3-NBA selection in 1990, won the Finals MVP award. He and Bob. Marcoussis known as the two on the basketball court with the most incredible Isaiah. Thomas, with a boyish face, always with a smile. He was born in a slum west of Chicago, is home to nine children in the smallest. he will lead the school team of high school made the state competition champion. on the Indiana University after the famous coach Bobby. Knight's guidance, he advances a greater .1978, became the Pan American Games basketball gold medal winning U.S. team members students, selected in 1980 on behalf of the United States Basketball Olympic Games team, but the U.S. boycott of Moscow Olympics unable to do so won the Olympic gold medal. Thomas in 1981 first-round NBA draft pick by the Detroit Pistons second check, thus beginning his NBA career in Detroit at the time, No one can team up and down during the season average 20 points per game, but since Thomas began expanding the Pistons new force.
1984 years, they ushered in the famous coach Chuck. Daly. After years of grinding training, in 1988 Thomas led the Pistons finally broke into their first finals, due to lack of experience, to 3:4 loss to the Los Angeles Lakers. then in 1989 and 1990, live race team continues to dominate in the east, beat 2 in the last issue of the Chicago Bulls, and 2 degrees in the finals rule the roost, Thomas has finally completed his historical mission of the Detroit Pistons. Thomas, with his bright smile and a heart of stone to win the At that time, Thomas led the Detroit Pistons are all a heart of stone, is known as the 80 NBA NBA down the > Thomas the field like a never-ending gyro, he assists in scoring, steals and minutes played screening has ranked the Pistons on top. he exception of the last year, the 12-time All-Star team in eastern ,1984-1986, the continuous 3 time All-NBA, was named 1990 NBA Finals Most Valuable Player. Thomas is currently ranked in the total number of assists, In addition, at any point he was a shooting guard can one accurately. He makes surprise that the various shooting positions, acrobatics and lightning-like speed of cut so that the fans appreciate. Since Thomas will not play selfish, and Injured often tenacious game, so was elected Chairman of NBA Players Association, from the 80's until the early 90 May 11 In 1994, Thomas formally bid farewell to the NBA football sport, announced his retirement.
1998, Thomas was elected Fifty big star NBA history.
Tuesday, December 21, 2010
Bandung Group Co., Ltd. Tianjin, the leading business the old entertainment center
Bandung Group Co., Ltd. of Tianjin, 1.6 Project Location 1.9 Planning 1.7 Planning Techniques Chapter feasibility preliminary conclusions: Project Overview and positioning of land for the project .2.1 2.2 similar to the block of business in Chapter III: Research and Forecast 3.1 Market Overview 3.2 Tianjin, Tianjin, commercial competition Business Trends and status of commercial buildings in Tianjin 3.3 3.4 3.5 Tianjin consumption level of the definition of the project district mode of operation of Chapter 3.6: Project Planning 4.1 Project Location and layout of the terrain and weather 4.2 4.3 4.4 earthquake in the recent air quality Master Plan Chapter 4.5: public works, environmental protection and fire power 5.2 5.1 5.4 Gas heating 5.3 5.5 Water Supply and Drainage postal, telecommunications and other environmental and Fire Chapter 5.6: Investment Estimate and Financing 6.1 6.2 Construction investment 6.3 Land costs Financing The total investment of 6.4 Chapter VII: total revenue income and expenditure forecasts predict 7.2 7.1 Forecast total expenditure of Chapter VIII: Financial Analysis of operation 8.1 8.2 8.3 Static analysis of the profitability of the project income statement and cash flow payback period of 8.5 Risk Analysis 8.4 Chapter Zonglun Appendix 1.1 Project Title: east entertainment center business district and old leading 1.2 Project Location: Tianjin, China, east area. north to the days of good social Avenue, south to North Street revival of village, west of the new open, east to Beijing-Harbin Railway Double Track .1.3 Project purpose: The project set a dangerous transformation, promotion of trade and start a re-employment in Queensland, in line with the old city of Tianjin on Speeding up the transformation of Queensland soil replacement and expand the tertiary industry to set up re-employment of laid-off workers of Queensland policies and channels ideas. The implementation of the project in Tianjin, Kunming Plaza station north of the new open flow to create a big, big trade, Queensland wide open field type of business entertainment center, a Queensland's major logistics hub. not only change the capacity of the district east Queensland District area appearance, improve the Tianjin public travel, shopping, and living conditions, but also to promote Queensland Railway appreciation of land outside the old city and the east Queensland will play a crucial area 危改to determine the role of project sponsor .1.4: 1.4.1 Company Name: Tianjin Bandung Group Co., Ltd. 1.4.2 Legal address: Hedong District No. Bandung, 78 November by 1.5 feasibility study building based on: national and Tianjin relating to real estate, business and other relevant documents are Queensland and regulations; Tianjin Bureau of Statistics on statistical reports; relevant research materials .1.6 Queensland project site planning of the project site is located in the middle of Tianjin, Beijing-Harbin Railway - Tianjin, Kunming Station north of the new open, days of good social Avenue, Beijing-Harbin railway double track and Revival of Village North Queensland made an enclosed area of irregular ladder. preliminary estimates, the total land of about 50 million square meters, floor area ratio of 0.7 Queensland with the total demolition area of 35 square meters. the plot of land in Tianjin, Kunming city center are three levels of classification, the original planning for residential properties. because of the way in Beijing-Harbin Railway main line and double-track the Crossings, Traffic peak noise, easy flow of uninhabitable Queensland, combined sales of commercial housing development trend has gradually exposed end of the cold askance, investment real estate real non-preferred Kun development, and use of the land to set up three production, distribution or engage in commerce and entertainment Kun Fun , sports and other industries may well be the development of a novel and effective way. Bandung Group Co., Ltd. of Tianjin of the land proposed for commercial development, construction, trade and distribution center of large Queensland operators. because the land near the Tianjin Railway Station, the old place of commissioned day east Queensland Tsu District People's Government for resettlement; the demolition block ground, Queensland survey objects, units, buildings used by residents of the area, population, households and other investigations, detailed planning investigation and after Queensland. Business entertainment center old leader completed, it will post with the East Railway Station Square, Commercial Street, contiguous echo Queensland as radiation Bohai Sea, connecting Northeast Asia regional type of business logistics center for Eastern Queensland river invigorate the economy, improve the efficiency of land use Old Town to build a prosperous and developed in Tianjin in northern China Business Centre Queensland play a huge role in .1.7 planning techniques of positive total land area: 500,000 m2 Total floor area: 50 square meters construction density: 70% FAR : 1:1 Green rate: 18% 1.8 points list for a feasibility study. Basic Data 1. The total investment: 1.632 billion yuan 2. Project Area: 500,000 square meters 3. The total construction area: 500,000 m2 4 . Building average number of layers: 1.43 Layer 5. Total income: 1,752,880,000 yuan 6. (decrease) total cost: 1.632 billion yuan 7. pre-tax profit: 24.7716 million yuan 8. (less) Income tax (33%): 8,075,600 Element 9. after-tax profit: 16.396 million yuan II. major financial evaluation 1. Investment profit rate: 1.49% 2. Investment profit margin: 1.00% 3. investment profit rate: 7.41% 4. Project payback period (including construction period) : ~ 2 years of preliminary feasibility studies 1.9 Conclusion: This project sales and market conditions in the ideal case, are close to profit or loss of Queensland state, construction of more large-scale roll out the larger risks. if access to land Kun compression the cost of floor area ratio increases and phased implementation of pending land appreciation, resulting in commercial paving prices rose Queensland, more bright future. Chapter 2.1 Project Overview and positioning of land for the project for the old leader of the project tentatively business entertainment center. in Tianjin Centre, one six-east Queensland area area traffic artery of Beijing-Harbin Railway Passenger Station Tianjin, an important hub for north Queensland area of about 50 hectares. Because the land is located in land, water transport interchange, has historically been important in Tianjin The heavy traffic Sheng Kun, the surrounding area during peak business, entertainment facilities spread all over. In recent years, Tianjin, Kunming newly built station is famous home and abroad. but in the cottage renovation and the newly opened Queensland Road, East before the station plaza , where a narrow and dilapidated housing, humidity, Kun many illegal buildings, mostly in the nature of the triple jump pit, and no running water and other basic sanitary conditions; residents of Queensland densely populated, several generations living together in a simple room and it is not uncommon. east Queensland District in Tianjin, and the efforts of governments at all levels, with the cottage renovation and construction of municipal infrastructure deep into Queensland, the situation has certainly changed. the living, travel, health conditions have been some improvement Queensland . However, due to various historical reasons, the land still left a certain number of old Queensland houses, poor efficiency of the warehouse, plant and health corner, land with high value end of Queensland, the use of the results are unsatisfactory. within the block mixed public and private property rights, low income, Queensland making resettlement work difficult, is the critical final few east area of habitat ugly buildings. The following is the main occupation of land plots in the current situation of the enterprises, public institutions, religious name, said Queensland and location. with () are not relocated or need for the proper handling of construction: Huachang Avenue (the former Renaissance Village North) side: (Huachang primary school, mosque). the new open side: (Industrial and Commercial Bank of China Li Taiwan branch office, Tianjin Institute of seasoning products, and Kun Wang Food Co., Ltd. joint venture in Tianjin seasoning), Tianjin Jinhua Trade, Queensland University, Tianjin hose plant, east of the river area twelve children, (Tianjin, hospital workers). National Road (the original days of good community street) side: (Wanhua Hotel and the East China Sea supermarkets, Tianjin and Kunming control center of sexually transmitted epidemic prevention center in Tianjin, east of the river area Children's Palace), Lu Lu Kun garment factory in Tianjin, Tianjin Medical Equipment Factory, Tin Fook Yee Recreation Center. plots within: Tianjin Dahua metal cabinet factory, east area nine children, the Grain Bureau team (including warehouses) Kunming, Tianjin Textile Fashion Factory, Tianjin, People's XI, paper mills, Tianjin Kun Tian Hai garment factory, Huaxing Science Instrument Factory of Tianjin, Tianjin day of technical school, (Carnation area - Kang Taikun company, three Huaili), Huafeng Food Industry Company, 22 garment factories in Tianjin. As mentioned above, Although the location of the project to solve some of the up and down, water, garbage, laying of asphalt pavement Queensland, and renovation of some of the triple jump pit cottage, but the primitive conditions of life of Queensland has been no fundamental improvement, especially with the recent years, Tianjin危改's basically completed, after the Queensland Railway Square and the surrounding areas outside the environmental situation and the status of the project site block the formation of a Kun great contrast, and as the new open, Huachang Avenue, reconstruction of national road widening, making Queensland the increasingly compelling value of the land lots together. can be expected, many developers invest a situation compared Queensland competition is not sensational description of land use rights for the project application Queensland work sooner rather than later. project developer - Tianjin million Long Group Co., Ltd., Tianjin is a vital force in the real estate industry in Queensland. in real estate development, construction, sales and support large-scale public construction projects and other areas of Queensland business for years. over the years to rely on a strong, courageous decision-making and unique perspective, Queensland established in Tianjin higher status in the real estate industry. Bandung people in the government share those concerns, the principle of problem solving for the Queensland people, through the unremitting efforts to win public trust and praise, Lu Kun continued the development of good quality and low price Bandung Building, Bandung Center Building, the Department of Yin in the Queensland District, Garden District Bandung, Bandung, apartments and other high-quality projects for the Queensland and New Area of Tianjin urban renewal development, improve the urban vector function to improve the living conditions of working-class life and urban environment of the United States Kun made due contributions. Recently, the Bandung Group also signed with the Queensland Government provides a zone of peace agreements, the construction investment of 1.2 billion Yuan Fu Street, south of 30 million square meters construction, while helping to start the Nanshi Queensland Cultural Education Park project. Bandung previous years, the Group's results show that the Queensland Bandung people have enough strength and it completed the development of the land. Looking at the city center area of land development and utilization, is nothing less than is a new sunrise industries, Queensland commercial residential or business, the main entertainment purposes. in accordance with the Queensland Department of Tianjin, the Department of overall strategic planning, coupled with the actual situation in Bandung, we can first rule out industrial uses of the land; Queensland in accordance with original plan was to engage in commercial residential, investment results are not ideal: the past few years 危改 situation caused by the strong sales have passed their prime real estate Queensland, real estate development of commercial housing in Queensland may have been called by the Progressive era of little profit or brutal competition, the identical investment and construction of commercial and residential district is the taboo Queensland real estate developers. just another way to re-adjust the investment strategy, developers Queensland, trade, entertainment or sports and cultural facilities construction, is to develop the land is Kun-win the fundamental. Historically, the block and the adjacent Shen Zi, Wang Zi, Guo Zi, Zhuang Kun Wang Road, Li referred to as the public building and other places outside the tunnel. According to legend, the Ming Yongle Shanxi Hongdong County moved a large number of immigrants Queensland into here. was just set up in Tianjin Wei fortification, just outside the wilderness with the Department of depression. Queensland 1901, from Russia, Italy, Austria and other concessions on the ground of poor people were driven out of Queensland and built the tabernacle and in this simple cottage accommodation, the years from the high Chaigai pad repair pit, and eventually the formation of a civilian residential area .20 Kun's to 30's here and the surrounding area for the next nine shares of Beijing began to bridge Queensland, Nanjing Confucius Temple, Shanghai Old City God Temple, the old Tianjin Nanshi offered the pattern of Queensland's development, and birds City, Qian Zhuang, like Germany, both filth, and all-encompassing, so Queensland has offered the new limbo known and small. was once a land of shops, entertainment outlets where a large number of Queensland , combined with years of floods, droughts and pier, where the business has an excellent tradition. Geographically speaking, relative to the Tianjin zoning, the layout of the land is located in Tianjin, central Queensland, north and Hebei area to the west and Hai-phase peace segmentation look, it is in, and Kun Ping, Hebei, the intersection of three districts east of the river. Since the barrier of Tianjin station square, making it Queensland thoroughfare roads but no business land, the investment of many but not popular. the saying goes, no business is not active, The Queensland business people also need to rally, investors need to have a unique vision and tenacity of the patient. Chunhua local Queensland, such as in the surrounding blocks, south side streets and small trees such as a piece of the construction of commercial and residential areas have been relocated, Queensland is a lack of a certain number of domestic markets; compared to Beijing, Tianjin, Hebei, Tianjin, Kunming and even the hinterland of Northeast China, where water transport, road transport, aviation and other transport conditions is extremely Kun is superior, fully equipped with the revitalization of the Tianjin Economic and engage in major trade large flow of goods to build a national buy Queensland, selling goods in the commercial center of the country objective conditions. from Tianjin's development strategy and work thinking point of view, long-term goals for the improvement of the urban people's lives in 1999 10 the Decision A commercial demonstration streets, Wang Kun top of the embankment, a large turnover of 3.0 billion alley into a large market base. The implementation of the project will not only lead 危改 Queensland, and will revitalize the business, create jobs, lower displacement efficiency Queensland of urban land, set up business that the tertiary industry, from a policy sense is completely stand Kun live foot. 2.2 similar to the block of business development climate in Tianjin has become the market or other bustling commercial street trends and experience to Queensland analysis, nothing more than a historical formation, geographical location, policy support. For example, three well-known north Queensland region is so big alley small articles of daily wholesale market. big alley is located in Hongqiao, Hebei, Kunlun open the junction of three districts, special geographical location and historical development, making the big alley first, Kun South, west to the north outside the Avenue, east of the Haihe River Road that a radius of several kilometers Queensland area. Over the last decade of shops, street vendors surge, commercial outlets in Tianjin Queensland one of the most concentrated. big alley small articles of daily wholesale Queensland market today has undergone a total of five generations. the first generation since the early 80's to spread the operations specifications, to form a unified city of Queensland farm management; second-generation business in 1985 configured for the individual counters from the open-air operation; the third generation of Queensland since 1988 into the semi-enclosed lobby desk operations; the fourth generation of the first city built specifically for the self-employed in small articles of daily Kun wholesale trade of modern buildings, the operators say goodbye to Ma Lukun business era, into the shopping transaction; fifth generation through investment and other ways in the city a commercial building next to the Queensland market in 1996 and 1998 have been built two markets - Kun Yi store and three days of the market - Tianjin will do. Thus, the total area has reached 12 million square Kunmi , regardless of market size and business transactions environment has a fundamental improvement in Queensland wholesale market large alley which one to become the largest market with daily traffic of 15 million, Kun peak up to 20 million. In turnover exceeded 2.5 billion, attracting Shanghai, Anhui, Kun Su, Zhejiang, Hubei, Fujian, Guangdong and other southern specialized households in 40 cities in the wholesale to the trade; the same time from the Queensland city of Tianjin and Inner Mongolia, Hebei, Northeast , Shanxi, Shandong and other places of business have come to Queensland to play the goods, making it truly Nanhuo north off the north set of goods into China National Commodity scattered in Queensland. particularly the small traders in Tianjin Municipality and the public, proximity and easier, Tianjin is a famous street hardware. To continue this tradition and in line with the city of Kunming urban transformation, through all these efforts, one side are located in 昆南马路西 north and south sides, North and South Twins separated by the sea in South Road, Hardware City in Queensland into its recent opening. here a collection of original and new advanced hardware and outside the city more than 500 business customers in Queensland but also for providing more than 600 laid-off workers jobs. South Road, Hardware City of the Chengdu-Kunming is the continuation of work history create business opportunities. Huang Wei Lu chaotic past crowding in broadening, the human form a strong rally Queensland commercial gas potential. Hebei District Government residential buildings along the street level of the former residents of certain preferential policies to encourage them to relocated the drum Queensland, the cage for a bird, Acer yuan to build the supermarket, Queensland led to McDonald's, Resources and other chain stores, specialty shops, and settled in Ping An Insurance and other financial institutions by the Queensland camp. business, trade, culture, entertainment, information industry everything, so today has been quietly Kun Huang Wei Lu the formation of a new commercial street in northern urban areas. visible replacement store room (so the replacement land Kun) are unlimited. the road with dilapidated building land prices have appreciated so Nanshi, opportunities to reproduce, the developer is investing huge Queensland infrastructure funds, and the new enclosure of the open land, national road (the original days of good community college Queensland Street), Huachang Avenue (the former Renaissance Village North Street) have completed the construction of transformation, the lack of speed is the only Queensland City by the project and promote the business launched. Tianjin Passenger Station near here. As old Tianjin Station a this grand vision, Queensland construction project known as very large area of land can be developed, based on project development in Kunming city, the radiation on making a fuss, in addition to the usual general merchandise business outside Queensland should also point out some important features of the professional wholesale market (such as wine Class of wholesale markets, wholesale markets were smoke Queensland market, agricultural products wholesale market, textiles, agricultural products, office supplies wholesale center in Kunming), the use of the land adjacent to the two cities of Tianjin and Tianjin stations radiation trunk roads, traffic will be Quinlivan of the absolute advantage to attract customers around, cultivate the market, and gradually increase their influence. This Queensland, the building should be considered food and beverage, entertainment, sports, commercial and residential components, and built a Queensland a real business, entertainment complex . To make the sound development of trade and business center to embark on the track, should be centrally managed, unified Queensland outside, eliminate fake, to ensure credibility, the relatively low price and reliable after-sales service Kun services and strict management system based on the market of the forest. The project initially positioned as a WAN-based business, recreation centers, the scale can be adopted in the construction of Kunming after taking the first big rolling development of small and eventually into the existing independent shops, there are relatively large set of business buildings in Queensland , the coexistence of a variety of formats, and new overhead garage integrated entertainment business trade Queensland. The construction of the project site, east of the river in the commission of Tianjin People's Government after the demolition Kunan home, for the most favorable way to obtain development rights . removal or placement of funds required by the developers, the Housing Financing and solutions Kun; municipal infrastructure construction of large facilities, preliminary consideration to the principles of the Queensland Government committed to supporting facilities within the project area supporting their own way. project will be business as the main Queensland, together with the corresponding multi-layer, high-rise parking, public buildings, green space. the entire project funded by the Queensland Department of Bandung Group Co., Ltd. Tianjin, exclusive investment, development and construction of the entire process will enjoy the Queensland state and Tianjin on dilapidated building, set up three production and placement should enjoy the benefits laid-off workers Kun policy, the related costs to be relief. construction loans, internal and external sales, rentals and other operating in Queensland are also fighting to enjoy relevant preferential policies. the project is completed, it is possible to avoid increasing the housing temperature development of increasingly hot and cold conditions the purchase of Queensland, it is possible to grasp ahead of new trends in urban land development, to develop a Queensland new ideas, new ways; If you can become successful set of commerce, entertainment, dining and even some commercial as one of Queensland Integrated Building Group, on the surrounding environment, business climate and land form will constitute a better appreciation of Queensland's psychology to the period. However, if early grab a large area spread, Queensland will lead to serious financial tie, or even short-term profit can not be there will be some loss. The success of the project depends on the advance and detailed planning and design, market segmentation, a large amount of advertising and Queensland have the patience to wait a long while. Chapter 3.1 Market Research and Forecast Overview Tianjin Tianjin is located at longitude 116 degrees 43 minutes to 118 degrees 4 minutes north latitude 38 degrees 34 minutes 40 Queensland 15 degrees, is located northeast of the North China Plain, north of Yanshan, Queensland east Bohai Sea, with a total area of 11,919.7 square kilometers, a coastline of 150 km. Kun whole city of peace, Hexi, Hebei, east of the river, Nankai and Hongqiao six city areas, Tanggu, Hangu Queensland, three port city Chittagong and Toray, West Green, Jinnan, North Star four suburbs, Queensland Jixian, Baodi , Ninghe, Wuqing, Jinghai County, for the Municipality. The total population of 900 million people. Queensland 98 years of gross domestic product 134.07 billion yuan in Tianjin, Kunming 2.1 billion kilograms of grain output, per capita disposable income of 7,110 yuan, farmers net income of 3,890 yuan. Tianjin is located in the Bohai Sea, the Haihe River running through them. This tip is located in Kowloon under the river, water, Queensland land and air transport facilities, is in northern China's trade finance, information center and advanced technology, complete range of integrated industrial Queensland industrial base and the famous port city. as an administrative division, Tianjin formed in the Sui and Tang later. Grand Canal and the opening of the Tianjin-by-step development of Queensland's land and water become the main terminal. the Song and Yuan period, once said that selling until Jin Kun Village and the sea town. Yongle three years (1405) Divergence in this area of fortification, a through 600 years of ups and downs. clear by the middle of Queensland as the economic, political and other aspects of development and continuous expansion of city size, after the Opium War, the day has turned into Queensland ports Tianjin in north China's status has improved. Now , with the Queensland state their Queensland 12,065 foreign-invested enterprises, foreign investment agreements $ 19,971,000,000 actual use of foreign capital $ 8,755,000,000 Queensland. Up to now, investment in Tianjin to have a national and regional Queensland 04, throughout Asia, Europe, Australia and North America , South America. broaden the field of foreign investment, Bank Queensland industry structure is becoming more reasonable. foreign-invested enterprises located in industrial, agricultural, transportation, real estate, commercial and high-tech industries Queensland categories, 64 industry sectors, Europe, America, Queensland capital of Japan and other developed countries accounted for 35% or more, located in Tianjin's international well-known large companies already 2 Queensland 00, 300 investment projects. the world's top 30 enterprises in Tianjin have 13 Queensland Investment, Employment in the number of foreign-invested enterprises for more than 30 million people. have been settled in Tianjin to Kunming in international well-known 110 large enterprises in Tianjin's industrial sector also various types of state-owned enterprises 245 Kun had to transform. This is not only developed Tianjin's economy, but also the purchasing power of Kunming to Tianjin commercial push to promote the role play. TEDA and Tianjin Port Free Trade Zone Kun successful construction and development, but also to further enhance the international reputation of Tianjin. With economic development, social progress and international , the domestic needs of the situation, days Kun Jin development framework has been formed in the minds of leaders at all levels. as Queensland 2010, and strive to build a modern port city of Tianjin and north China economic center to re-Kun, and a national lead in realizing modernization in the world. Li Sheng Linkun mayor in the recent Tianjin, the market economy to improve the degree of Queensland, to develop the tertiary industry on the difference. The third industry area of wide potential, Queensland wide range of social search. To make full use of existing infrastructure and strengths, focusing on development finance Queensland business sector, our efforts under the posts and telecommunications, information consulting, real estate, tourism and community Queensland services, related industries, to better play its role in the city's economic growth. Kun attention to the study of different regions and different levels consumer characteristics, efforts to broaden the consumer field, cited Kun lead to new market demands. to do a good job market, improve the market system, promote the wholesale market in Queensland on the scale, level. promote the chain stores, supermarkets, distribution centers, the development of new format of the Queensland . To achieve these objectives, an old industrial city of Tianjin, the most urgent task, in addition to Jiakun fast urban transformation, virtually eliminating risk from the humble cottage, the resolution of employment issues, an important step in Queensland is the government set up the third industry, construction, a group of enough scale, enough to level the Queensland Trade Street and markets business group, so that the formation of Tianjin, a large flow of commercial circulation, a large trade, open trade center .3.2 Queensland-based business competition and business trends in Tianjin, Tianjin's commercial distribution presents the middle of the road component of the downtown business, Kun financial, administrative areas, there is also the only one plot in Tianjin, an area of about 2.8 hectares of 13 Queensland. which, concentrated in the retail part of the Binjiang (Nanjing Road to Peace Road, Kunming a). It's busy, in addition to special historical reasons, but also because it has the conditions of central Queensland Commercial Street, the so-called urban function, the retail function and the divergence of radiation machine Queensland business culture can be. It is the city's heart, a considerable Manhattan in New York, Tokyo's Ginza, in Central Queensland in Hong Kong, Beijing's Wangfujing and Shanghai's Nanjing Road. It is the Tianjin business flow, logistics, information flow in the hub of Queensland, affects the context of the city and neighboring regions , its development and the rise and fall with the Queensland city we live in the vitality, cohesion, solidarity attraction and radiation. Queensland in Tianjin sudden emergence of the various regional business district developed rapidly in recent years, though not with the central Queensland business district on an equal footing, but also to some extent spread its passenger and commercial Queensland business, you can dominate the party in the region. For example, the Xiaobailou business district of Tianjin, Xi Kunnan Corner business district, Zhongshan Road commercial district, Tong Building downtown business district and other Queensland roads Nankai Tianjin have a certain influence both regional business center. With the deepening of reform and opening up and changing the pattern of Commerce Queensland Industry, Tianjin City Commercial retail competition. eighty years ago, Tianjin, Kunming City, large department stores such as rare, a variety of specialty shops, department stores and small grocery store on Queensland accounted for by the mainstream retail industry in Tianjin. Almost every type of merchandise have one or several prominent Queensland family with whom the professional market Correspondingly, in the minds of consumers and even the formation of the preferred shopping Queensland's position of non-perfectly. For example, a pair of shoes to go to Tianjin shoe store, shoe store and the old US-Kun Wan Wah; buy fabric is to-day lung; looking to buy Kids Costume ; buy cultural products to the new China; Kun Hang watch is capable of the world. In addition to professional market, five, and shopping malls, the south tower operators Queensland market, Tong F, several medium-sized department stores, shopping malls are ringing in Tianjin boutiques, a large commercial farm is only Quangyechang Queensland, department stores, three of the Central Plains company. eighties, Kunming, Tianjin high-speed development stage into the mall. The reason is nothing more than the disintegration of the traditional distribution system, reduce the flow of KT links , direct sales to meet and so on. This leads to many wholesale companies decline Guo Zihao off Queensland, large shopping malls rising efficiency. It is strange that emerging market weakness Kun nineties soft not weakened, but strengthened the big shopping centers dominant position. This is not only because the big shopping malls no Kun fake, reputation, attention to quality of goods and services, facilities and elegant environment, but also thanks to eight years on behalf of the Queensland domestic economic situation has changed many times and the special market environment during the transition. Queensland As the socialist market economy matures, a variety of formats increasing number of commercial outlets, large numbers of Queensland all kinds of competitors and consumers become increasingly sophisticated and diverse consumer side Kun-type, disrupted the pattern of the business. Let us look at Tianjin history of retail competition since then: first, 199 Kun 4 years set off by a few small department store, Later, in 1996 the franchise after another emerge Queensland and large and small shopping centers and comprehensive wholesale market professional, straight neck and large shopping malls Diukuixiejia difficult to ward off Queensland, was the shop front in straight sets the price of hawker stalls, , the days become more sad, serious loss of customers Kun source. For example, a franchise away from the central business district shopping - shoes Queen City of the Yellow River Road, shortly after the opening, put the central business district a few big shopping malls painstakingly nurtured for many years Kun away most of the consumer groups. the final outcome of a 1996 Queensland was forced to by a number of large shopping malls at the same time involved in the massive advertising campaign, price war, leading to 96 in Tianjin Quincy more than 16 ten thousand square meters large shopping malls, retail sales and total sales growth will be only three Queensland: Quangyechang, Riverside commercial buildings, shopping centers in Tianjin. In 1997 the situation facing the retail business is tough for me. The first is the impact of financial crisis caused by the purchasing power of Kunming Machine atrophy, consumers spend more cautious when shopping, mature and reasonable Queensland, consuming diversion phenomenon more obvious; Secondly, more and more competitors entered the business district of Queensland and more, the strength gradually stronger and stronger: spread of supermarkets, warehouse, membership Queensland shopping malls, convenience stores, with lower operating costs and capital operation speed, distribution system Kun advantage of a large shopping centers and convenience food, washing, cosmetics, the formation of shock wave; vigorous development of the store Kun, features, exclusive shopping malls increasingly plump wings to specific goods and professional services to Queensland of the household appliances to large shopping malls, clothing, bicycles and other goods constitute the operation co-Wei; Queensland a number of wholesale and retail the wholesale market in a flexible mode of operation is also silent occupies the market space; Queensland early nineties, the heyday of the economic benefits of major shopping malls, the parties have been looking good and competing investment Kunming, Tianjin and commercial buildings mushrooming, while increasing the competitive business days Kun-chun , for example, has completed the Riverside Shopping Center, East Building, Geely Building, Queensland East China Sea commercial, Tanggu gold ingot, Riverside II, Wing Kei Mall, Hua Xu commercial buildings, the World Business Queensland building industry, Xin shopping plaza, Hualong commercial buildings, Arch Shopping Center, Riverside shopping centers, Queensland and New eighties only international malls, shopping centers in Tianjin, the goal building three stores. kun these new commercial buildings have been built and opened, no doubt intensified the competition in traditional business in Tianjin. 98 characteristics of the retail industry in Tianjin. ..
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