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 Regulator warns of property bubble risksRISKS that could lead to a property bubble are still building up in China, and more action is needed to cool speculative fervor, the country’s banking regulator said Tuesday. In a report about last year’s banking performance, the China Banking Regulatory Commission (CBRC) also asked lenders to strictly implement rules limiting mortgages to help rein in real estate prices. “There are still some irrational factors in the property market,” the CBRC said. “The performance of the property market has a long-term and important impact on the sound and stable development of the banking industry,” it said China company setup. It noted rising pressure on the balance sheets of some smaller banks and vowed to keep a close eye on the banks’ liquidity conditions to prevent risks. “We will implement the system of monitoring the daily average loan-to-deposit ratio on a monthly basis this year,” it said. The CBRC has drawn up a tough new set of capital rules as part of efforts to implement Basel III guidelines, according to a document in February. But the regulator did not mention the new capital rules in its annual report. It reiterated that it would strictly control lending to financing vehicles used by local governments to circumvent restrictions on their incurring debt, which economists warn could fuel a rise in bad loans in coming years. “The clean up of local financing vehicles debts has shown initial results, but we should not relax our efforts to control later risks,” the commission said in the report. Chinese banks made a net profit of 899.1 billion yuan (US$137 billion) last year, up 34.5 percent from a year earlier, the fastest pace in three years, the CBRC said in the report. Net interest margin contributed 66 percent to the profit, up by 3 percentage points from 2009, followed by gains from investment, which contributed 21 percent. Net income from fees and commissions accounted for 12 percent of the total profit, it said. The CBRC also sounded a worried note about global economic prospects in 2011, citing uncertainties posed by the European debt crisis and ultra-loose monetary policies in developed countries. “The quantitative easing policies adopted by the United States, European countries and Japan have added more pressure to emerging market inflation and asset prices, creating uncertainties for the world economy,” it said. Given this context, Chinese banks have to make full preparations for future difficulties, the CBRC said. “The Chinese banking industry still faces some challenges in 2011, given the changing and complicated situations at home and abroad,” the report said Mosquito Screen
. Mars Needs MomsOther than “Beowulf,” his most successful performance-capture film to date, Robert Zemeckis has chosen to deploy this system in children’s films.This film from Zemickis’ ImageMovers Digital and Walt Disney Pictures has been shot and will be projected in Disney Digital 3D as well as in Imax 3D. It is based on a children’s novel by cartoonist Berkeley Breathed, who admits the book came in reaction to a disobedient* son expressing strong dissatisfaction with even having a nagging* mother. So, the story about a mom kidnapped* by Martians and her rescue* by her young son is filled with emotions*. For this film, Zemeckis turns directing chores* over to Simon Wells, who directed “The Time Machine” and co-directed the animated “The Prince of Egypt.” Wells and his wife Wendy adapted* the book with nearly every plot turn proving that kids need moms. Milo, age 9, is the focal* point. He is enacted by Seth Green and voiced by a much younger Seth Dusky, age 11. Joan Cusack is Mom but since she spends most of the time under lock and key, the major roles fall to the very funny Dan Folger as Mars’ only other human, a techo-wiz* named Gribble; Elisabeth Harnois as Ki, a rebellious young Martian who learned English watching ‘70s sitcoms; and Mindy Sperling as the nasty* Martian leader whose body appears as mummified* as her heart. Designer Doug Chiang has a grand time turning the Red Planet into a giant fun ride from Martians with triangular* heads, no real noses and otherworldly bodies and gaits* to an underground world of simplicity and sterility*. Females run the place while men — Gribble calls them the Hairy Tribe Guys — get tossed down chutes* with the garbage as they’re the most expendable* resource on the planet. The movie is set up as a race against the clock by Milo to save his mom but the film finds time to take in the Martian civilization in passing, a gag*-filled and lighthearted re-imagining of our own world if women ruled it. The movie shrugs off any real attempt at science fiction other than oxygen helmets* for the surface of Mars. The characters run around those surfaces in short sleeves in what should be a -10 degrees Celsius climate and make the round trip from Earth to Mars, which should take about 18 months, in half a minute. National MuseumCHINA’S National Museum reopened yesterday with state-of-the-art facilities after nearly four years of renovations.The museum was expanded to 191,900 square meters with 49 exhibition rooms, making it one of the largest museums in the world. Four years ago, the museum was a national embarrassment. Visitors to the building, on the eastern side of Tiananmen Square in central Beijing, had to make their way through a maze of poorly lit exhibition halls, leaking toilets and crowded hallways with mould around the doors. But what disappointed many visitors most were the museum’s collections. Of more than half a million items available for display, one-third were coins婚紗晚裝. Many provincial museums, such as those in Shaanxi and Henan, had bigger and better collections. The museum now has a collection of more than 1 million cultural relics, according to the museum’s official Web site. One of the most valuable collections is the Si Muwu bronze quadrate vessel, 1.33 meters high and weighing 833 kilograms, dating back about 3,500 years. From yesterday to March 16, the museum is only open to visitors in groups but from March 17 it will be open to groups and individual visitors. A maximum of 3,000 visitors will be allowed in each day — 2,000 visitors in groups and 1,000 individuals. Group visitors will need to book in advance while individuals can get tickets at the entrance. The museum will host two regular exhibitions, one featuring ancient China and the other, titled the Road of Rejuvenation, about Chinese history since the Opium War in 1840, said Huang Chen, a publicity official at the museum銷毀服務. Admission for the two exhibitions was likely to be free, he said. The renovations started in March 2007 and were completed at the end of last year. The entire project cost 2.5 billion yuan (US$367 million)Mosquito Screen. Unfinished building near airport to goAN unfinished building near Shenzhen International Airport is finally being demolished after work was suspended for 16 years.
U.K. students protest hikein tuition feesTHOUSANDS of British students protested Wednesday against government plans to triple university tuition fees and there were sporadic scuffles with police, two weeks after a similar demonstration sparked a small riot. The Metropolitan Police said two officers were injured in London, including one with a broken arm. Fifteen protesters were arrested. College and university students across the country held marches and sit-ins to oppose the decision to increase university fees to 9,000 pounds (US$14,000) a year, a key plank in the government’s deficit-cutting austerity measures. In central London, the university students and younger pupils in school uniforms marched from Trafalgar Square toward the Houses of Parliament, chanting “no ifs, no buts, no education cuts.” Some climbed on top of bus shelters, while several attacked a parked police van, smashing the windows and scrawling graffiti. “Education is not a rich kid’s game,” said Tash Holway, 19, a student. “If this keep up, the entire industry will change. It won’t be about talent, but only about who can pay.” Lines of police guarded the headquarters near Parliament of junior government partner, the Liberal Democrats, which have drawn particular anger because the party campaigned on a promise to abolish tuition fees, then abandoned it once in power. “I massively regret finding myself in the situation” of not being able to keep this promise, Deputy Prime Minister Nick Clegg, said. (SD-Agencies) A SENIOR Chinese banking regulator urged the country’s lenders to conform to the Basel III rules — the new set of global banking regulations — in a bid to improve international competitiveness, the China Securities Journal reported Wednesday. Cai Esheng, vice chairman of the China Banking Regulatory Commission (CBRC), told a forum in Beijing that banks should set up comprehensive risk-management systems that conform to Basel III, and shift toward quantitative risk measurement and capital management, the newspaper said. China should actively participate in global banking regulatory reforms, and should promote useful financial innovation while caution against a repeat of the “shadow banking” crisis in some overseas countriesHair weave. Many believe that the shadow banking system, under which non-depository financial institutions operate beyond the radar of banking watchdogs, played a major role in the recent global financial crisisSecurity company. CBRC vice chairman Wang Huaqing said in September that the Basel III rules would have no immediate impact on Chinese banks, but that they could constrain capital raising in the next decadelaptop bag. Basel III rules set minimum capital and liquidity standards, to try to create a more resilient international banking system, after the financial crisis. EXPATRIATES and residents of Hong Kong, Macao and Taiwan living in Shenzhen are required to register their information for the sixth national population census launched yesterday. From Nov. 1 to 10, nearly 100,000 census takers will go door to door visiting 3 million households across the city, recording family information to finish the first stage of the census. This will be the first time the expatriate population has been included in a census. The expatriate population must register their name, nationality, gender, date of birth, purpose and period of stay, education and occupation. The census office opened an English hotline 8367-0531 for inquiries. “We have trained census takers in English and required census offices in districts to organize interpreters,” Yin Yong, head of the statistics bureau, said. To gather more accurate figures, from Nov. 11 to Nov. 15, another round of the census will be conducted, although on a smaller scale, Yin said. Compared with the fifth census in 2000, the sixth census would be more challenging because the permanent population had increased to 8.91 million in 2009. Shenzhen is a city with a large floating migrant population and a challenge to finish the census in a short time, said Yin, hoping residents would cooperate with census takersÉúóŒË®. The census was expensive but necessary to learn the total population picture of the nation, provinces and cities. Yin said the information would be kept confidential. It was the basis for decision makers to determing policies for the nation’s economic and social developmentNon-woven Bag. The national census is expected to cost around 60 billion yuan, according to Wang Guangzhou, a researcher at the Population of Labor Economic Research Institute under the Chinese Academy of Social Scienceslaptop bag. Statistics will be calculated in December, with key data to be released by the end of April next year, sources said廢ÁÏ»ØÊÕ. The previous census detailed China’s population at 1.29533 billion. |
