Replies to post #80528 on Flexpower Inc. (FLXP)

[herbalife13]

Official: China's fiscal revenue to grow 1.2 trillion yuan
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14:04, December 10, 2007

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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

[herbalife13]

All Chinese banks to meet capital standard this year
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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

[Pocohontas]

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