RailwayIPOtofinanceconstruction电子教案

1、Good is good, but better carries it.精益求精，善益求善。RailwayIPOtofinanceconstruction-TheState-runrailwaysinChinaplantosellsharestoprivateinvestorstohelppayformassiveconstructionandrestructuring,aRailwayMinistryofficialsaidTuesday.Chinaseconomicblueprintfor2006-2010callsforthecountrytospend500billionyuan(US

2、$62billion)ontherailways,withseveralslatedtolaunchinitialpublicofferings(IPOs),domesticmediareportssay.Listingscouldcomeasearlyasnextyear,thereportssay.“IfthecompanyismatureenoughforanIPO,whynotletitbelistedonthemarket?”saidLiDeming,aspokesmanfortheRailwayMinistry.Liconfirmedcommentsbytheministrysch

3、iefeconomist,HuangMin,reportedintheBritishnewspaperFinancialTimes,sayingthatforeigninvestorswouldbeabletotakeminoritystakesinnationallinesandmajorityorfullownershipoflocalrailways.Therailwaysareduetobedividedintoseparatecompanies,andthebest-runwouldbeencouragedtopursueIPOs,Huangsaid.Currentplanscall

4、forthecountrytosetupfiveindependentcorporations,thoughdetailsofthebreakupapparentlyhaveyettobeworkedout.Chinahasalreadybegunexperimentingwithprivateinvestmentintherailways,onalimitedbasis,bothtoboostfinancingandtohelpbreakthemonopolyoftheState-runlines.A775millionyuanlineunderconstructionbetweenthec

5、itiesofQuzhouandChangshanisaboutone-thirdownedbyaprivatecompany.PBOCallowsmoreRMBbusinessinHKThePeoplesBankofChina(PBOC),thenationscentralbank,announcednewstepsyesterdaytoallowHongKonglenderstodomoreyuan-denominatedbusiness,givingthemagreateropportunitytotapintothemainlandsrosyeconomy.HongKongbanksh

6、avebeenprovidingpersonalyuanbankingservicessinceFebruary2004.Yuandepositssawa205percentjumponayearlybasis,topping22.6billionyuan(US$2.8billion)inSeptember,accordingtotheHongKongMonetaryAuthority.ApprovedbytheStateCouncil,PBOCdecidedtoexpandthescopeofitsclearingarrangementfortheyuanbusinessofHongKong

7、banks,thecentralbanksaidinastatementonitswebsite.TheagreementoftheStateCounciltoexpandrenminbibusinessinHongKongwillstrengthenHongKongsroleasaninternationalfinancialcentre,HongKongFinancialSecretaryHenryTangsaidinastatement.Withthenewpolicy,HongKongresidentswhocurrentlydonothaveyuandepositaccountswi

8、llbeallowedtoexchangeupto20,000yuan(US$2,473)pertransactionperdayatlocalbanks,upfromthecurrent6,000yuan(US$741),thebanksaid.BankswouldalsobeallowedtoprovideyuanexchangeservicestoHongKongbusinessesinthetransport,telecommunications,medicalcareandeducationsectors.Theannouncementmeansmuchmoreconvenience

9、forresidentsandenterprisesbothinHongKongandonthemainland,ChuXiaolu,vice-presidentoftheBeijingbranchoftheBankofEastAsia,toldChinaDaily.ChusaidthatthismovewouldstimulateconsumerspendingofmainlandresidentsinHongKong,thushelpingboosttheHongKongeconomy.MoreindividualsandcompaniesareusingyuaninHongKongasi

10、tseconomybecomesincreasinglyintegratedwiththatofthemainland.Businesseswithyuanbankaccountswouldbeallowedtoconductone-wayexchangesoftheirdepositsfromyuanintoHongKongdollars,thecentralbanksaid.DomesticbankswouldbeallowedtoraisethedailylimitonremittancesforeachHongKongresidentto80,000yuan(US$9,876)from

11、50,000yuan(US$6,173).BankofChina,theclearingbank,wouldallowHongKongresidentstouseyuan-denominatedchequesforconsumerspendinginneighbouringGuangdongProvincewhichwillberestrictedtoadailylimitof80,000yuan(US$6,173),aspokesmansaid.Thecentralbankwouldalsoabolishthecreditlimitof100,000yuan(US$12,345)onyuan

12、bankcardsissuedbyHongKonglenders.Thenewmeasureswouldtakeeffectsoonafterfinishingtechnicalpreparations,accordingtothebank.ButaccordingtoHeGuangbei,thechiefexecutiveofBankofChina(HongKong),thismovewillnotseeadramaticchangetoHongKongsyuandepositsasthemajorityofHongKongsyuandepositholdersareindividualsn

13、otinstitutionalinvestors.Currently,thereare38banksinHongKongofferingpersonalRMBbusinesstotheirclients,coveringalmostalltheHongKongbanksthatengageinretailbusiness.ThecentralbankstressedthattheRMBbusinessinHongKongmustbedevelopedsteadilyinasequentialmanner,consistentwiththereformprocessofcapitalaccountliberalizati