China's elite circle to Lou jiwei's new finance minister, summed up the three "pie" : in academics, senior officials work parties, within the system,replica oakley sunglasses, the market parties. But experienced by cic was universal criticism after the pressure losses, and believe what pie than the next five years to "good away money, manage money, spend money" let him steady.
The 12th National People's Congress, at a meeting on Saturday confirmed the ministries or commissions, the people's bank of China governor,cheap oakley sunglasses, etc., the new finance minister for the 63 - year - old Mr Lou, won the favor, 2905 votes, no 37 votes, abstained 10 votes.
Lou jiwei, analysts say never conceal his desire to return to the mainstream finance management power, during the work in cic, also often in the scholar's identity will be all kinds of his thinking on macro issues such as finance and finance. Now finally get it and have the opportunity to blend system requirements and individual ability.
Lou jiwei and or senior cadres is complete official experience, not only have a place to work experience, for fiscal and financial sense. Cic in evaluating his personal characteristics, said "the aura is extremely strong, very powerful, dare to speak the truth, to the point."
Eighteen big during the last year, Mr. Lou had an interview with Reuters and at the time when talk about reform, turn to translation the word factor market,replica oakley sunglasses, with the capital market, Mr Lou immediately pointed out that the word wrong, "factor market" should not be capital market." Its rigorous attitude.
"For China's economic reform is a good thing, but to finance some of the bureaucracy is not necessarily a good thing." , a person familiar with the Treasury Department official said, "last time (he) is parachuted into the Treasury, to fully operate there will be resistance; but this time should be bold."
Lou jiwei,discount oakley sunglasses, who was born in 1950 at the end of the year, had five years of the south China sea fleet troops. Graduated from tsinghua university computer science department, the number is the first Chinese economics graduate students. Since then, for many years engaged in the reform of the system work, and in 1995-1998 vice governor of guizhou province, then airborne appointed deputy secretary of the Treasury.
When cic was established in 2007, by China's ministry of finance to inject $200 billion, or about 1.5 trillion yuan. Lou from deputy finance minister of the post as chairman of cic, began his in charge of the world's largest sovereign wealth fund investment career.
The young this year, cic made several important investment: for about $3 billion m investment in a powerful figure by the United States to launch the Blackstone private equity funds; With the $5.6 billion investment in Morgan Stanley (MS. N: quote) convertible bond... But as the spread of the global financial crisis, the investment has produced huge losses. Is in stark contrast, foreign investment in Chinese Banks to gain considerable returns, and listed out for a moment, the criticism of media.
Five years later, when he left the cic, hand over a return for good answers. During the eighteenth big, he told Reuters in an interview: in 2012, cic will make overseas investment.
2011 is fully operational in the first year of cic entered a substantive, but loss for the first time in three years, overseas investment portfolio yield of 4.3%, even lower than the annual yield of 2008-2.1%.
2013年3月19日星期二
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Oakley Sunglasses Online to concern all over the country and the wave of anger.
The eurozone to Cyprus by bank depositors against politicians and bankers shock, their concerns about the euro zone had a panic will let investors and ordinary people.
On Friday after all night negotiations, euro zone finance ministers agreed on Saturday to the troubled Mediterranean island to provide 10 billion euros ($13 billion) bailout, and said that since so many of the country's debt is derived from banking, therefore must bear much of the department.
Euro zone finance ministers asked bank of Cyprus savers pay up to 10% of taxes, it can raise nearly 6 billion euros. Bailout before the condition and content vary wildly, to concern all over the country and the wave of anger.
The European central bank had promised, if necessary, will be unlimited buying euro zone government bonds. This let the euro zone to keep calm in the past five months. But if investors doubt Cyprus mode or will repeat in the future any salvage operations, the calm is likely to be broken.
If not to rescue, Cyprus will default, which could break down by the European central bank up investor confidence.
Politicians and bankers and analysts said the tax on depositors or other euro zone countries would endanger Banks, even though the ministers insisted that this is just a special case, and Cyprus only accounted for 0.2% of the euro zone's economic output.
",Oakley Sunglasses Online;This is an unprecedented act of extreme practices, we believe that will bring some panic to peripheral euro zone countries, we also can't rule out the possibility that part of the capital flight." Newedge Strategy of Annalisa Piazza said.
It said: "in the short term we expect periphery (yields) spreads will be affected by some, also don't rule out the possibility of the euro's decline.",replica oakleys;
This decision make cypriots scrambling to cash, most atms are emptied within a few hours. Most depositors since Saturday morning can no longer enter your bank account.
Euro zone policymakers said Cyprus will monitor for signs of capital flight, but didn't explain once this happens will be how to deal with.
"For us, Cyprus is closely related to the system as a whole. Even though the country's economy is small, but if the situation chaos, may damage an important progress in stabilizing the euro zone in 2012." The European central bank chief andreas muston said at the end of the euro group meeting.
Cyprus is a bank holiday on Monday, instant response will be limited. If approved by congress, the savings will tax imposed since Tuesday. More than 100000 euros in bank deposits will be taxed 9.9%, lower than this value will be 6.7%.
The tax proposal does not necessarily have to get through, but otherwise I'm afraid will lead to other consequences, such as default, such worries will let the parties attach great importance to tax proposal.
Cyprus, called an emergency meeting of parliament will be postponed to Monday,oakley sunglasses sale, the President Nicos Anastasiades urged lawmakers to support a tax bill. In the 56 seats in the parliament, none of the parties to occupy an absolute majority, but there have been three party says it will not support the plan.
"Government support for up to 26 to 28, and may vote in 26 or so," said jp Morgan analyst Alex White. "Our best estimates indicate that vote could be very close, so the results.",replica oakley sunglasses;
In Cyprus outside the euro zone, there has been no public sign of panic, Banks and the authorities soon be placated.
Bank of CyprusBOC. CY and Laiki Bank on their English website, according to tax law does not involve overseas branch of Bank of Cyprus. Spain's central bank, said the country did not showed signs of capital flight.
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Shinzo Abe, Japan's prime minister, announced on Friday that the country wants to join, led by America's Pacific free trade agreement negotiations, this is the job after the first is political risk decision, but that decision seemed to have return, his approval rating rise further.
On Monday, the polls show Mr Abe's approval rating by last month began to rise,replica oakley sunglasses, and reached its highest level since taking office in December. And most people support released Friday, Japan wants to join the trans-pacific partnership agreement (TPP) negotiations.
Abe this new officer took a third policy decisions of the "three fire",oakley sunglasses sale;, the former two policies of fiscal capital respectively and extremely loose monetary policy.
Although "Abe" economic policy in the Japanese stock market and voters won a praise, but executives and economists believe, can be a long-term success, depends on whether Mr Abe to solve, and how to solve tough reform issues, such as deregulation.
Japan is such a difficult problem to join the TPP talks, is testing whether Abe has the ability to successfully through the political minefields, achieve the purpose of the first test.
Supporters said the trade deal will help Japan will benefit from dynamic regional economic growth,replica oakleys, and can be used as a catalyst to promote the reform of deregulation. But it was always the LDP power base of agricultural lobby strongly opposed.
Before Mr Abe, has two democratic incumbent prime minister ever drive to join the TPP, but are blocked because of divisions within the party.
Mr Abe's salesmanship * * * *
"Public support for the TPP degree is high. This suggests that Mr Abe explanation about Japan needs in joining the TPP negotiations are likely to bring a sense of security to the public,",replica oakley sunglasses; Japan's waseda university political science professor at Takehiko Yamamoto said.
The LDP's campaign, points out that if will invariably be abolished tariffs, will be against to join the TPP talks, and shinzo Abe has said that he has made Washington's promise, do not need to make such a commitment.
Asahi shimbun survey showed that 71% of voters support the practice of handling the TPP negotiations, Abe and yomiuri news and the news like according to the survey, about 60% of the voters to support it.
In all media survey, Mr Abe's support for the entire quantity to record high since he came to power in December; Abe is junichiro koizumi in 2006, a rare full five-year term since the seventh of the prime minister.
Asahi shimbun survey, Mr Abe's approval rating at 65%, the yomiuri and the results of the survey of the daily news is 72% and 70% respectively, compared with February survey rise between 1-7%.
Japanese leaders is very difficult to get high ratings for a long time, usually will rise to high at the beginning of took office, but after the slide. Abe in the period from 2006 to 2007 for the first time as prime minister faced this problem.
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Bank of England governor mervyn king this week suggested that the "clouds" of the British economy may be dissipated. But due to various assets is strong, and sterling vulnerable, investors in the UK economy growth outlook is not so clear.
Mervyn king said on Thursday that the UK economy is gaining ",cheap oakleys;kinetic energy", will be in recovery this year, and the pound after the recent plunge, it seems reasonable valuations. His remarks let the market by surprise.
The pound trade-weighted index edged up. The index fell as much as 7% in 2013,fake oakley sunglasses.
But, in the trade weighted terms, pound is still about 25% lower than before the crisis began in 2007. While the UK stock market soared after the king issued a optimistic view.
So, sterling and the shares which can better reflect the views of the investors in the UK economy? Due to shrinkage financial sector, household deleveraging and fiscal austerity, the British economy only weak growth or even no growth for a long time.
Pessimists feel king's comments to change,fake oakleys, may be to prop up sterling, prevent "stagflation". The devaluation of pound sharp downturn in economic growth increased imported inflation. King last year also talking about the UK economy is facing "uncertainty clouds".
Other people think that pessimism may be overdone.
Standard Life Investments, director Jonathan, Gibbs said his views on the stagnant situation has roots are sceptical, he also said that even if such a trend continue, doesn't mean that caused by stagnation of economic and investment environment in the 1970 s nightmare will repeat itself.
"We believe the middle back environment is continuous improvement," Gibbs said. The UK market is affected by global reflationary and recovery over the sluggish domestic economy, contribute to performance in the stock and property markets, he said, and investors are also looking for inflation protection.
Slowly, he says, asset allocation from low-yielding bonds to the global trend of stock market, is also on the stock market. The FTSE support factors, the index, which this week hit a five-year high.
Citigroup analyst Robert Buckland says Britain and the United States stock market rally mainly supported by valuation, and the domestic economy is not the decisive factor, earnings per share to return to 2007 levels.
Despite the market's recent rally,Oakley Sunglasses Online, but the cyclically adjusted p/e is still lower than 40-year average of about 15%.
"Without economic growth or economic growth really is essential, so we would expect the global emerging markets and Asia, excluding Japan stock market will hit a record high, but it's actually not the case," wrote Buckland.
replica oakley sunglassesShinzo Abe
Shinzo Abe, Japan's prime minister, announced on Friday that the country wants to join, led by America's Pacific free trade agreement negotiations, this is the job after the first is political risk decision, but that decision seemed to have return, his approval rating rise further.
On Monday, the polls show Mr Abe's approval rating by last month began to rise, and reached its highest level since taking office in December,replica oakley sunglasses. And most people support released Friday, Japan wants to join the trans-pacific partnership agreement (TPP) negotiations.
Abe this new officer took a third policy decisions of the "three fire", the former two policies of fiscal capital respectively and extremely loose monetary policy.
Although "Abe" economic policy in the Japanese stock market and voters won a praise, but executives and economists believe, can be a long-term success, depends on whether Mr Abe to solve, and how to solve tough reform issues, such as deregulation.
Japan is such a difficult problem to join the TPP talks, is testing whether Abe has the ability to successfully through the political minefields, achieve the purpose of the first test.
Supporters said the trade deal will help Japan will benefit from dynamic regional economic growth, and can be used as a catalyst to promote the reform of deregulation. But it was always the LDP power base of agricultural lobby strongly opposed.
Before Mr Abe, has two democratic incumbent prime minister ever drive to join the TPP, but are blocked because of divisions within the party.
Mr Abe's salesmanship * * * *
"Public support for the TPP degree is high. This suggests that Mr Abe explanation about Japan needs in joining the TPP negotiations are likely to bring a sense of security to the public," Japan's waseda university political science professor at Takehiko Yamamoto said.
The LDP's campaign, points out that if will invariably be abolished tariffs, will be against to join the TPP talks,cheap oakley sunglasses, and shinzo Abe has said that he has made Washington's promise,replica oakley sunglasses, do not need to make such a commitment.
Asahi shimbun survey showed that 71% of voters support the practice of handling the TPP negotiations, Abe and yomiuri news and the news like according to the survey, about 60% of the voters to support it.
In all media survey, Mr Abe's support for the entire quantity to record high since he came to power in December; Abe is junichiro koizumi in 2006, a rare full five-year term since the seventh of the prime minister.
Asahi shimbun survey, Mr Abe's approval rating at 65%,cheap oakleys, the yomiuri and the results of the survey of the daily news is 72% and 70% respectively, compared with February survey rise between 1-7%.
Japanese leaders is very difficult to get high ratings for a long time, usually will rise to high at the beginning of took office, but after the slide. Abe in the period from 2006 to 2007 for the first time as prime minister faced this problem.
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Euro zone finance ministers urged Cyprus in a tax on bank deposit of pass small savers. Cyprus parliamentary vote on tax on Tuesday, will determine whether the country can get financial aid, or face the danger of default,discount oakley sunglasses.
Cyprus announced over the weekend,cheap oakley sunglasses, as for the eu 10 billion euros ($13 billion) bailout plan, as part of the country's tax will account to the bank. After practice is that the interests of depositors is inviolable.
The euro and European stock markets fell, on concerns that tiny Cyprus may be renewed financial crisis in the euro area. At the same time, public anger of Cyprus in the heavily guarded before parliament held a demonstration in the country.
On Tuesday, officials said before the vote euro zone finance ministers held a conference call late and said deposit less than 100000 euros of small depositors should be protected,cheap oakley sunglasses. If the vote is expected to present stalemate situation, cannot pass, would affect the euro zone as a whole,fake oakley sunglasses.
According to the agreement reached in Brussels on Saturday, the amount under 100000 euro bank account to pay the tax of 6.7%, more than the amount need to pay 9.9%.
Finance ministers said they tend to be more savings account rates rise to 15.6%, the amount of fewer small savings account escaped.
A Greek finance ministry sources said that Cyprus is unclear whether they would accept the proposal, if accepted, Cyprus is still able to receive 5.8 billion euros via a tax on bank deposit as planned.
"All the eurogroup finance ministers today, say they want to don't tax account deposit less than 100000 euros, but you cannot force a country don't do that," the Greek sources told Reuters.
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Euro zone finance ministers urged Cyprus in a tax on bank deposit of pass small savers. Cyprus parliamentary vote on tax on Tuesday, will determine whether the country can get financial aid, or face the danger of default.
Cyprus announced over the weekend, as for the eu 10 billion euros ($13 billion) bailout plan, as part of the country's tax will account to the bank. After practice is that the interests of depositors is inviolable.
The euro and European stock markets fell, on concerns that tiny Cyprus may be renewed financial crisis in the euro area,replica oakley sunglasses. At the same time, public anger of Cyprus in the heavily guarded before parliament held a demonstration in the country.
On Tuesday, officials said before the vote euro zone finance ministers held a conference call late and said deposit less than 100000 euros of small depositors should be protected. If the vote is expected to present stalemate situation, cannot pass, would affect the euro zone as a whole.
According to the agreement reached in Brussels on Saturday, the amount under 100000 euro bank account to pay the tax of 6.7%,replica oakley sunglasses, more than the amount need to pay 9.9%.
Finance ministers said they tend to be more savings account rates rise to 15.6%, the amount of fewer small savings account escaped.
A Greek finance ministry sources said that Cyprus is unclear whether they would accept the proposal, if accepted, Cyprus is still able to receive 5,fake oakleys.8 billion euros via a tax on bank deposit as planned.
"All the eurogroup finance ministers today, say they want to don't tax account deposit less than 100000 euros, but you cannot force a country don't do that," the Greek sources told Reuters,cheap oakleys.