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PepsiMan lets add
another name, Thanks to MT, Pedro, and Theresa.
beautiful building, does it snow there LOL.
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Thank you PEDRO and MT... You have made this GUY a very happy man!!! :0)
In addition to the opening of the exchange and the announcement of new companies, PDR Exchange (Panama), Inc. has relocated their headquarters in Panama City to the Global Back Tower. The exchange will begin occupancy of the new office in January 2008, with a location on the same floor as Central America Bank and the Argentina embassy.
Picture of the Global Bank... http://www.skyscrapercity.com/showthread.php?t=319235
Maybe we will be similar to this China Co.
http://www.china3cgroup.com/
All the NaySayers
You were wrong and to those who listened to the NaySayers. Your mistake. Thanks IR, Pedro and MT Merry Christmas and a Happy New Year.
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https://www.pdrexchange.com/News/3427B5E935A37B273E2B4229320B706330120C6BC8C3E83F59F73C899A664EB2.aspx
Goodlife will be a seperate entity apart from EFGO
Yes sir EFGO is taking care of its shareholders IMO.
PRAE welcome
IMO your holding a winner.
Rumor is Deal is to be completed early next week, pick your day. Mon, Tues or Weds? I pick Tues.
http://investorshub.advfn.com/boards/post_reply.asp?message_id=25304956
firerat IMO it's a done deal Tuesday
Tuesday is EFGO, Good Life Day.
The Green Monsters is awakening.
Post Unavailable
Additional Information
Marine! IMO we do not
know how real big the EFGO Good Life deal could be. What is Good Life gets an offer for their services? What if Chinese brokerages come here will Good Life be listed with them?
How will the Chinese take to the corruption in our US Markets?
Lots of possibilities.
solidgold for me
I need a change to warmer LOL.
http://news.webshots.com/album/70170387kyxOTV
China sees 13.6% rise in foreign investment in first 11 months
Well China is opening up their Doors for foreign investment.
20:04, December 14, 2007
China has actually utilized 61.674 billion U.S. dollars of foreign capital from January to November, 13.66 percent higher than a year earlier, the Ministry of Commerce (MOC) said on Friday.
The growth rate is 2.51 percentage points higher than the figure for the first ten months.
In November, the actually-used foreign investment in China surged 35.07 percent to 7.679 billion U.S. dollars. The number of newly approved foreign-invested firms fell 9.06 percent to 3,593.
During the period, China has newly-approved 34,419 foreign-funded companies, down 7.02 percent year-on-year, the MOC stated.
The average foreign investment size expands as the nation is seeking to boost foreign capital utilization quality.
The faster growth in foreign investment shows China's booming economy and investment environment remain attractive to overseas investors, said experts.
In the 11 months, the actually used foreign capital from the U.S. and 15 member states of European Union, however, declined 8.25 percent and 29.8 percent respectively, the MOC said, without providing specific figures.
Chinese Vice Premier Wu Yi said at the 18th Joint Commission on Commerce and Trade on Tuesday in Beijing that China would not change its stance on the broader use of foreign capital, dismissing concerns that the nation would narrow the scope of its opening-up policies.
"China's door has been and will be resolutely open to the outside world," she said.
China becomes second biggest exporter to Brazil
Maybe Good Life goes to Brazil? Who knows?
+ -
17:08, December 14, 2007
China has become the second largest exporter to Brazil, trailing the United States, amid growing trade ties between China and Latin American countries.
Trade with China reached 1.43 billion U.S. dollars in October, growing 9.45 percent year on year, according to data from Brazil's Ministry of Development, Industry and Foreign Trade. That accounts for 11.6 percent of Brazil's total foreign trade.
Since joining the World Trade Organization in 2001, China has seen exports growing and imports of raw materials from regions like South America also rising.
In 2006, China's trade with Latin American countries reached 70.2 billion dollars, according to China's Ministry of Commerce, and it is expected to rise 40 percent this year.
In Brazil, the continuous appreciation of its currency against foreign currencies led imports to register record highs this year, a tendency that may continue next year.
Purchases from China account for an important part in the growth of Brazilian import, which was boosted by favorable exchange rates, economic growth and domestic income hikes.
Supermarket shelves are increasingly filled with imported products, especially goods from China.
Fernando Ribeiro, an economist with the Foreign Trade Studies Center Foundation, said Brazilian consumers benefit from the inflow of Chinese products.
"To the consumer it is great, because they start to have access to electronic products and other cheaper items. They get to buy a DVD player for 100 reals (about 60 dollars) because of China," he said.
Topping the list of Chinese imports are telephones, liquid crystal displayers, mobile telephone terminals, printed circuit boards, cameras and video cameras, according to Brazil's Foreign Trade Secretariat.
HSBC to acquire local bank in Taiwan for expanded presence
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20:05, December 14, 2007
The British banking giant HSBC announced Friday it has succeeded in bidding for the Chinese Bank, a local bank in China's Taiwan, with gross assets totaling 3.1 billion U.S. dollars.
"The acquisition will increase HSBC's island-wide branch network from 8 to 47, giving it a presence in all the major cities," the London-based bank said in a statement, adding that Taiwan was one of the biggest banking market in the region.
HSBC, or the Hongkong and Shanghai Banking Corporation Limited, did not disclose the cost of the acquisition, but said it would assume the assets, liabilities and operations of the Chinese Bank with a payment to deliver an agreed net asset position.
The Central Deposit Insurance Corporation (DCIC), an insurance company in Taiwan which has been controlling the Chinese Bank since January, said that HSBC offered 47.49 billion new Taiwan dollars (1.47 billion U.S. dollars) in the auction.
The transaction was yet to be approved by regulatory authorities of Taiwan.
HSBC said it would also provide certain additional capital to ensure that its enlarged operations maintain appropriate financial ratios, adding that the amount of the injection was estimated to be between 300 million and 400 million U.S. dollars.
The Chinese Bank has 36 branches and over 1 million customers throughout the island and provides a full range of services to retail customers and enterprises.
Under the agreement, HSBC would be able to convert three business offices of the bank into new branches, boosting the total number of the firm's branches to 39.
HSBC had eight branches in Taiwan, one of Asia-Pacific's wealthiest economies.
"The Chinese Bank will provide HSBC in Taiwan with significant opportunities in retail, commercial and corporate banking," said Alistair Currie, chief executive officer of HSBC in Taiwan.
"We believe HSBC's international network, global expertise and financial strength will benefit our new customers and employees here," he added.
China, U.S. agree on closer cooperation in financial service sector
read this part below, Chinese brokerages are coming.
"Chinese banks and broker-dealers seeking to open branches or register and operate in the United States."
+ -
21:17, December 13, 2007
Related Channel News
· The third China-U.S. Strategic Economic Dialogue (SED)
China and the United States have agreed to beef up their cooperation in the financial service sector during the third strategic economic dialogue that ended at a resort outside Beijing Thursday.
China pledged to examine its policy on foreign participation in domestic securities firms and come up with recommendations on new ceilings of foreign ownership, according to a joint fact sheet circulated after the dialogue.
An similar study on foreign ownership of Chinese banks is already going on and will be completed by the end of 2008. New recommendations shall also be given to maximum foreign ownership.
Qualified foreign-invested companies, including banks, will be allowed to issue RMB denominated stocks and bonds.
Shortly before the dialogue, China raised the quota for qualified foreign institutional investors, which allow foreign mutual funds to invest in China's domestic stock market, from 10 billion U.S. dollars to 30 billion U.S. dollars.
In return, the U.S. government said it remains committed to applying national treatment to Chinese banks and broker-dealers seeking to open branches or register and operate in the United States.
The United States will apply "the same prudential standards to all applications by foreign banks to establish branches or subsidiaries or to acquire stakes in existing U.S. baking institutions," the joint fact sheet said.
U.S. Treasury Secretary Henry Paulson called this progress "moderate", affirming that opening China's financial markets to foreign competition strengthens the financial backbone of the Chinese economy. "It's critical to China's goals of spreading the benefits of growth to all Chinese people," he said.
Playing down the disputes on the speed of the yuan's appreciation, Paulson said "we didn't spend a lot of time talking about how fast is fast."
A statement of the U.S. delegation recognized China's progress in its gradual yuan appreciation policy: "The RMB has appreciated 12.2 percent since July 2005, and in the past year the annual pace of appreciation has accelerated from 3.4 percent in 2006 to 6.1 percent in 2007 year to date."
Chinese Vice Commerce Minister Chen Deming made it clear Wednesday that China was not against yuan appreciation, but stressing that a rapid appreciation of China's currency would hurt its economy, which would not be positive for the world.
Chen, instead, expressed concern over the continued depreciation of the U.S. dollar, which he said would "drive up oil and gold prices and reduce the assets of the countries or companies that hold the currency."
PepsiMan here you go
I did not forget
http://news.webshots.com/album/70170387kyxOTV
BigDogs what is the latest Share Count Please
Latest update
161 shareholders estimated to be holding 5.110 billion shares that believe in EFGO going forward.
Around 240 shareholders unaccounted for.
In other words the float in my opinion looks to be dried up and most likely underwater.
All shares will have to be accounted for before the merger is completed by the transfer agent. In other words the MMs and brokerage firms need to make sure all the shares match up exactly to the DTC counts that the transfer agent will match up.
Strong hands going forward will help to take this stock to much higher levels as the volume should drop significantly with most holding. Wont take much volume to break through resistance levels with most of the float staying on the sidelines waiting for EFGO to close the current deals on the table.
Its all about patience now and not letting the MMs and Shorts use our shares against us. At these basement prices the downside is 1 or 2 ticks at the most and the upside is infinite.
The value of the deals currently announced with Goodlife and Camden are not reflected in the share price at all in my opinion and once they do become valued where they should be tremendous upside. Looking for a 5-10 bagger in the next few weeks to few months myself. Hopefully EFGO will take care of business and take us there.
500 and long
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breezin_nyc excellent post on Good Life potential
Haorizi/Good Life is outbanking the banks in the rural areas, IMO.
The international banks are looking at the "deposit-gathering and lending possibilities of a nation with a $9.9 trillion spending power."
Great, we should welcome the competition and the awareness.
Madame Dongmai Jia seems to be maximizing the real estate within thousands of stores by forming micro-banks ... insurance, small loans, etc.
Talk about staying close to your customer:
"In addition to traditional retail sales, each store also features a membership option for its customers. Members can order products online via the Company’s web-enabled ecommerce website (http://www.huozhan.com/). Deliveries can be made to customers within a 1 kilometer trading area around each store, or retail products can be ordered for pickup at a local franchise store.
This membership concept provides a powerful tool to cross-market products and services well beyond the traditional offering of a convenience store. In rural areas, farmers can order farm input supplies and products, and Good Life will be expanding into new areas in the short-term, such as farm crop insurance, small loans etc."
uwlungman Yes and Good Life is already there
Good Life is established and a brand Name in China for locals.
Next step a Good Life on your USA street corner next to the Seven Eleven LOL.
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herbalife. We have rural banks in the Philippines...
They also give loans to farmers but the interest rates are very high, something like 35% on a loan. Don't know what the China banks charge but I would guess it is something similar. The coop idea that Goodlife will use sounds especially good to me since farmers will be in a better position I would think. Hopefully, loan rates will be low enough that they won't have to choose between seed and food.
Facts on EFGO & Good Life for investors to read
RETAIL STORES Seven Eleven here we come!
From corporate stores to franchise model:
http://www.goodlifechina.com/eglchina.php#retailstores
YouTube: Chinese news coverage of the reverse merger of Esprit Financial Group and Haorizi/Good Life (China):
US and China economic globalization more Good News
Dialogue paving the way to win-win progress
16:52, December 13, 2007
Thanks to accelerated economic globalization, the growing interdependent, mutually beneficial, and "win-win progress" China-US business relations have brought our two peoples closer together, Vice-Premier Wu Yi said Wednesday at the opening ceremony of the two-day, Third China-US Strategic Economic Dialogue (SED).On December 11 at 9:00 am, Wu Yi's American counterpart, Henry Paulson, Special Deputy to the US President and US Treasury Secretary, accepted an interview from People's Daily Online.
He expressed similar wishes for win-win cooperation. Paulson stated that an economic relationship and trade with China benefits both countries. "I think one of our jobs in the Dialogue is to make the case as to why trade is good, why China's economic success is good for the US, and the US economic success is good for China."In the first 10 months, the bilateral trade volume reached $248.19 billion, and is expected to top $300 billion for the entire year.
Paulson agreed that China has been the fastest growing export market for the US for five straight years; and reiterated that imports from China are not hurting the US economy. Instead, imports "increase choices for US consumers and help us contain inflation.
"He describes the China-US business relationship as complex and very important in the world due to its huge scale, broad scope and the extensive multi-party interests involved. Paulson said that "we need to focus on long-term issues, strategic issues, and also issues that are most sensitive at any point in time."Wu Yi echoed these statements at the opening ceremony, saying "history has repeatedly shown it is dialogue and consultation – not confrontation and finger pointing – that have enabled China-US business relations to grow… the relationship needs to be viewed from a strategic perspective.
"Paulson also told People's Daily Online that he expects to explore the ways in which both sides can cooperate through the Dialogue: a method which some Chinese scholars today compare to a platform for mutual understanding.As Tao Wenzhao, a scholar at China's Academy of Social Sciences put it, "Dialogue has become a bridge for upper-level communications between both sides, and a channel to settle issues under contention.
"Initiated in 2006, the SED is a semiannual event focusing on bilateral and global strategic economic issues of common interest.Leaders from both sides, each accompanied by their dignitaries, have concluded that interdependence between the two economies is evident and growing. "That is why we must not allow interest groups to harm our ties in their pursuit of self-serving goals," Wu Yi stated.Paulson also expressed that the US-China relationship has become central to each nation's interests and to maintaining a stable, secure and prosperous global economic system.
Look at this now a Bank see's potential
In the rural area just where Good Life will be. Plenty to go around. We have Huge potential with Good Life and EFGO IMO.
HSBC ventures into China's rural market
+ -
13:17, December 13, 2007
A rural bank established by the Hongkong and Shanghai Banking Corporation Limited (HSBC) opened for business on Thursday, marking the first entry by an international bank into a rural area of China.
The HSBC rural bank in the Cengdu District of Suizhou City in central China's Hubei Province offers its customers deposit service for local businesses and individuals, and help businesses to raise funds.
With a staff of 22 and an initial capital of 10 million yuan (about 1.36 million U.S. dollars), the bank, a wholly-owned subsidiary of the HSBC, will also provide trade-related financing and settlement services for export-oriented rural enterprises.
It also plans to provide agriculture-related loans to individual farmers later in 2008.
Travel agencies upbeat over plans for U.S. opening to Chinese tourists
+ -
07:45, December 13, 2007
Chinese travel agencies are expecting the policies following the Sino-U.S. memorandum of understanding (MOU) on tourism to facilitate their business while being optimistic about the future market.
Chinese will be able to travel to the United States in groups on tourist visas, according to the MOU signed on Tuesday. Currently, the United States issues only business visas to Chinese.
"Everything will be in place only when we know how the MOU will be implemented," said a manager with China International Travel Service (CITS), China's biggest travel service, who refused to give her name.
The CITS is preparing by contacting U.S. counterparts, she told Xinhua Wednesday, "Some U.S. travel agencies are coming to us as well."
Most travel agencies interviewed plan to promote tours linking Los Angeles, San Francisco, Las Vegas, Washington D.C., New York, Chicago, Philadelphia, San Diego and Hawaii, at an average cost of 25,000 yuan (3,351 U.S. dollars) per person.
"Although very inviting, the U.S. tour will keep some potential travelers away because of the tight visa interview procedure and the comparatively high expense," said Liu Yanwen, manager of U.S. section in China Travel Service (CTS), China's second largest travel service.
The European Union does not require visa interviews for tourists in groups. A tour covering 12 European countries costs about 16,000 yuan (2,162 U.S. dollars).
The transport cost in Europe was also lower than that in the United States, Liu said.
"Many Chinese people are curious about America as they are already familiar with it through Hollywood movies. So I am quite optimistic about the U.S. travel market," she said.
Liu expected that the U.S. side would loosen the visa requirements for Chinese tourists in groups.
The U.S. Department of Commerce forecast that the number of Chinese tourists will reach 579,000 by 2011, up from 320,000 last year, according to the China Daily report on Wednesday.
MARINE-1 I see some names
that have been referenced before LOL.
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One big happy family. see any new names?
http://www.minamargroup.com/clients.php
Post Unavailable
Additional Information
CaptainD2u you got it buddy
hang in avoid the posters who answer Questions with Questions.
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The first of the week GM anounced 5 Billion investment in China.
Alot of intrest in China from some very smart people. Like us? 9Mil people in the rural market. To set up stores for them to spend their money, and send some of it to the U.S. instead of us always sending it to them. EFGO GO GO GOOOOoooo! Happy Hunting..
herbalife13 thank you for all you do. :) + $$ = happyness
Ontario Securities Comm
http://www.thestar.com/Business/article/281645
uwlungman yes it does
IMO China and the Americas are the places that will have great potential and growth for investment. Good Life will a winner.
Official: China's sovereignty wealth fund to make prudent investment
+ -
16:25, December 12, 2007
China's sovereignty wealth fund will maintain prudent investment and respect the laws in recipient countries, Finance Minister Xie Xuren said on Wednesday.
Speaking during a break in the two-day China-U.S. Strategic Economic Dialogue, Xie said that the fund would pursue long-term investment instead of short-term speculation, and would achieve a balance between security and profitability.
"So, the sovereignty wealth fund is an important force in helping stabilize global growth and address global economic imbalance," he said.
The fund, or China Investment Corp. (CIC), was set up in September this year, with an initial capital of 200 billion U.S. dollars from the country's massive foreign exchange reserves.
One-third of the capital would be used to purchase Huijin Investment Co. that now controls major state-owned commercial banks. Another third would be injected into state-owned banks for shareholding reforms, CIC chairman Lou Jiwei said earlier this week.
The remaining 70 billion U.S. dollars was earmarked for overseas investment in a wide range of portfolios but would not seek control, said Lou.
"CIC attaches great importance to dialogue and cooperation with international organizations, foreign regulatory bodies and counterparts," said Xie.
It would be effectively supervised and operate in accordance with international rules and local laws in recipient countries.
Source: Xinhua
Stockbroker Information
http://www.broker-check.com/
Brokerage Firm Misconduct
http://www.securities-fraud-attorneys.com/brokerage-firm-misconduct.htm
Fail to Delivers Oct15th
SEC Regulation SHO sets out rules governing short sales, including the mandatory close-out requirement that applies to securities in which a substantial amount of fails to deliver have occurred (“threshold securities”). Clearing agency participants and broker-dealers for which they clear positions (“participants”) must take immediate action to close out a fail to deliver position in a Threshold Security that has lasted for 13 consecutive settlement days by purchasing securities of like kind and quantity (“close-out requirement”).
The amendment eliminates one of the exceptions to the Close-out Requirement for fails to deliver established prior to a security becoming a Threshold Security (“grandfather provision”). The amendment requires Participants to close out any previously-grandfathered fails to deliver in a security that is on the Threshold Security List on October 15th. The close-out must occur within 35 consecutive settlement days of October 15th. If a security becomes a Threshold Security after October 15th, all fails to deliver must be closed out within 13 consecutive settlement days.
SEC Link: http://tinyurl.com/2ofmao
Important Link: Knight Capital Worried about Reg Sho Changes
Regulation SHO Pilot Security List
"To assist firms with compliance, NASDAQ added all NASDAQ-listed securities to the Regulation SHO Pilot List and maintained the list on line. To further accommodate firms, NASDAQ, will continue to maintain the list for the Reg SHO price test change until October 4, 2007. In addition, effective October 5, 2007, broker-dealers will no longer be able to mark sales “short exempt”; instead all short sales must be marked “short”."
Regulation SHO Threshold Security List Might find some trading jewels listed
Marine1 can you say NSS
Great and of course Nite is in the picture.
Now this may not be much but in light of what's going on here and the confusion as to why we're not moving, I'll post this:
Last time I checked this site EFGO wasn't on it. Now I see an MM who I believe fits yesterday's profile. Once again the DD done on this board is incredible.... Way to go JB/BD!
The numbers aren't huge but who says the numbers are accurate?
NITE is shorting BIG TIME!!!...... Take it FWIW to you.
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=efgo&cntry=usa&tag=&ib_entity=llc&ln=
China opens largest free-trade harbor area in N port city
+ -
16:10, December 11, 2007
China's largest free-trade harbor area with the most preferential tax treatments started operation in the northern port city of Tianjin Tuesday, a further move in the country's opening-up strategy.
Dongjiang Bonded Harbor Area, close to Beijing and located in the Bohai-rim region, "is designated as the pilot among others to adopt reforms and renovations to promote the opening-up drive," LiKenong, deputy chief of China Customs, said at the inauguration ceremony.
The area is set to enjoy the most favorable policies in taxation and foreign exchange polices and offers comprehensive services in international shipping, purchase, trade, processing and logistics, according to Li.
The first phase of the harbor area, which currently covers foursquare kilometers and includes warehouses, container terminals, processing and logistics zones, involved 6.6 billion yuan (nearly 900 million U.S. dollars) in corporate investment.
The second phase of another 6-sq-km area, which is still under construction, is scheduled to become operational by 2010, realizing designed capacity of handling 4 million containers per year.
Source: Xinhua
All Chinese banks to meet capital standard this year
+ -
16:11, December 11, 2007
All Chinese banks will meet the 8 percent capital adequacy ratio (CAR) requirement this year, Liu Mingkang, head of the China Banking Regulatory Commission (CBRC), told an annual financial conference.
By the end of the third quarter, 136 commercial banks had reached or surpassed the CAR requirement.
Liu, speaking on Monday at Caijing magazine's annual conference here, said that the competitiveness of China's banking industry had improved significantly due to the increase in the CAR and a decline in non-performing loans.
It was reported earlier that urban commercial banks' average CAR had risen to 8.6 percent from -1.6 percent at the end of 2003.
The non-performing loan ratio had declined to 6.63 percent at the end of the third quarter this year, Liu said.
Rural cooperative banking institutions reported 183.1 billion yuan (approximately 25 billion U.S. dollars) in combined net assets, with an average CAR of 9.1 percent, up from -6.8 percent four years ago.
Source: Xinhua
Official: China's fiscal revenue to grow 1.2 trillion yuan
+ -
14:04, December 10, 2007
Related News
NBS: China's fiscal revenue expected to top 5 tln yuan
China's fiscal revenue reaches 2.6 trillion yuan in first half
China's fiscal revenue will rise at least one trillion yuan (135.2 billion U.S. dollars) this year judging from the financial figures in the first nine months, said Jia Kang, director of the Research Institute for Fiscal Science under the Ministry of Finance.
He revealed that from January to September, fiscal revenue had already increased 900 billion yuan over the same period last year.
The increment was attributed to China's sustaining policy of emancipating productivity through tax cuts and providing a preferential environment for investors, both foreign and domestic, in the first two decades since China launched reform and opening-up in 1978.
"In addition, the stock market is another major contributor to revenue growth," Jia stressed. "The market's contribution will increase by more than 100 billion yuan."
In May, China raised its stamp duty from 0.1 percent to 0.3 percent.
Last year, China's fiscal revenue reached 3.9373 trillion yuan, 24.4 percent higher than 2005.
Source: Xinhua
NYSE CEO highlights China's importance
+ -
17:08, December 10, 2007
China is a very important place to the global strategy of New York Stock Exchange (NYSE) Euronext, chief executive officer (CEO) Duncan L. Niederauer has said.
Niederauer told Xinhua reporter in a recent exclusive interview that China is a place where the NYSE group will spend much time in the coming years building up relationship with China.
The group was announced on Sept. 4 as the first foreign exchange to gain approval by the China Securities Regulatory Commission to open a representative office in Beijing.
Niederauer left here Sunday for Beijing on his first overseas trip since he took office as the new CEO of NYSE Euronext on Dec. 1. He will attend the opening ceremony of the company's first office in Beijing.
"We were the first exchange as to be given the privilege to open a representative office in Beijing, and we planned the opening coincidentally shortly after my taking the top job. It's busy time but China is very an important place to us, and we are honored to be the first exchange to be given the privilege," said the CEO. "I expect I will be back three or four times going forward."
The NYSE Euronext group currently has 49 companies listed from China, including 38 from the mainland, six from Hong Kong and five from Taiwan. This year, 16 new companies from China have listed on NYSE, including 14 IPOs (Initial Public Offerings).
The total market capitalization of Chinese mainland companies on the NYSE is 1.1 trillion U.S. dollars and for greater China is about 1.6 trillion dollars.
"I think it has been a terrific year for us with companies coming here from China. I understand we have possibly a couple of more to come before the end of the year, so I think there will be close to 50 companies listed here by the end of the year," said Niederauer.
"For the Chinese companies, who have global ambition, whose products are sold outside Asia, I don't think there is a better place they can be listed," he said, adding that NYSE Euronext is a global brand, and the United States is still an important capital market.
"I think in 2008 the future is very bright. We will accomplish and we've already accomplished without an office in Beijing, without really a presence in China," the CEO said. "We hope that by having an office there, we are being able to be a more effective partner, and we can even have more success in 2008 and beyond."
Source: Xinhua
BigDogs couldn't agree more
EFGO is being Naked Short Selling. the Good Life and Camden deals are huge for EFGO Shareholders IMO.
Pennymaven
THe completion of both the Acquisition and the R/M should happen in several days hopefully.
Looking good and the Strong hands that hold the 5 billion plus shares will carry this much higher.
MMs were scrambling today as usual trying to get out of the mess there in.
All shares will have to be accounted for by the transfer agent before the Name/cusip change.
Looking good. Hold those shares as some will soon be begging for them and will be paying all the way up.
Patience. The foundation has now been laid by EFGO and we will be participating in two great stocks going forward
EFGO and EFGO/Goodlife. Win win
Here's more great EFGO News
GOOD LIFE CHINA" MERGES WITH ESPRIT FINANCIAL GROUP !!:
http://www.goodlifechina.com/eglchina.php#retailstores
YouTube: Chinese news coverage of the reverse merger of Esprit Financial Group and Haorizi/Good Life (China):
thanks cruzn
posters have to understand the corruption that is involved in these markets. IMO it is happening with EFGO.
Bigdogs yes and Look
A lot of Good News has happened lately with EFGO
BEIJING, Nov. 28 /PRNewswire-FirstCall/ - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) is pleased to announce that it has signed a firm and binding agreement to complete a reverse merger with Hebei Haorizi Company Ltd., a China based company.
http://biz.yahoo.com/prnews/071128/to400.html?.v=32
LAS VEGAS, NV, Dec. 3 /PRNewswire-FirstCall/ - Esprit Financial Group (Esprit) CEO Mr. Garr Winters announced the Company's intent to achieve fully reporting Pink Sheet company status.
Once the Company merges with the fully reporting entity, we will immediately apply for a name change to Good Life China and a new Ticker symbol.
http://biz.yahoo.com/prnews/071203/to476.html?.v=26
Business Plans call for a total of 4,000 franchised stores (an increase of 250%) and a total of 8 logistics centers (up from 3) by the end of 2008. Within Hebei Province alone, the Company estimates market demand for another 6,600 stores.
It is the intention of EFGO management to use the proceeds from these asset dispositions to buy back shares of EFGO and retire them to treasury.
http://goodlifechina.com/townhall/
Net Profit is currently projected to exceed the fiscal plan of $2.29M million USD for the 2007 fiscal year by a significant margin, and increase to over $25 million USD by 2011.
http://www.goodlifechina.com/about.php
As mentioned (probably too briefly), China's Commerce Minister has initiated a policy to help the rural provinces catch up to the gains of the cities on the east coast, Beijing, Shanghai, etc. in a Universal Rural Retailing Network.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24969500
GoodLife wants to be listed in US Stocks Exchange and no one can stop this.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24968525
With 4.9 billion now estimated to be long with 142 Ihubbers and 260 shareholders unaccounted for whats going to happen when the transfer agent realizes that the float is underwater.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24975991
The TV news clip said: Today Goodlife and Esprit had siging ceremony. They are to merge.. After that, the merged company will
endeaver(?) to build grow and expand through China... Going to Nasdaq.
YouTube
http://investorshub.advfn.com/boards/read_msg.asp?message_id=24997298
itlogic No, No, you want answers
you go to the source for the real Facts not opinions you know that. Write Town Hall and ask them any Questions you desire. http://goodlifechina.com/townhall/
I don't understand why posters are afraid to write Town Hall.
The PR today addresses this.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25170938
Mr. Winters cautioned; 'It has come to our attention that there are several Investor Awareness type message boards that are harbouring our staunchest critics intent on distributing negative information and misinformation on a organized wide scale basis, including sending out unsolicited emails. These are individuals who clearly seem to have their own agenda and who seem to be relentless in their endeavours to an obsessive level, thwarting months of hard work and undermining the efforts of the Company to bring value to its shareholders. Frankly, we cannot understand their behaviour, or what purpose their endless tirades serve. I would like to take this opportunity to invite any of these critics to come forward and identify themselves to us and provide any proof they feel they have on any conspiracy theories or improper activity conducted by the Company. We are prepared to address these allegations head-on in public. In the meantime, I encourage our shareholders to visit our corporate Town Hall for regular corporate updates, and to speak to their licensed financial representative for any investment advice regarding the Company.'
maybe this article will help explain things.
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the market makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations.
“Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent.
The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser.
An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level.
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
A lot of management teams become overwhelmed with grief and guilt in regards to the huge increase in the number of shares issued and outstanding that have accumulated during their “watch”. The truth however is that as long as management made the proper corporate governance moves throughout this ordeal then a huge number of resultant shares issued and outstanding is unavoidable and often indicative of an astronomically high naked short position and is nothing to be ashamed of. These massive naked short positions need to be looked upon as huge assets that need to be developed. Hopefully the regulators will come to grips with the reality of naked short selling and tactics like "Cellar boxing" and quickly address this fraud that has decimated thousands of U.S. micro cap corporations and the tens of millions of U.S. investors therein.