金融英语阅读复习热点文章1文档格式.doc

金融英语阅读复习热点文章1文档格式.doc

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　　ThelistingplanawaitedafinalapprovalfromtheChinaSecuritiesRegulatoryCommission,theSouthChinaMorningPostreported,citingsourcesclosetothesituation.

　　ThebankmayfileapreliminarylistingapplicationwiththeHongKongStockExchangeassoonasthisweek,thepaperadded.

　　Theoffering,whichBankofChinapreviouslyplannedtocompletebeforeApril,wasnowmostlikelytobelaunchedinMay,thepaperquotedthesourcesassaying.

　　Theofferingwouldvaluethebankat400billionyuan（US$49.6billion）,thepapersaid.

上市公司可能被许出售股份

Listedfirmsmaybeallowedtosellshares

　　Thecountry'

sregulatorswillconsiderallowinglistedfirmstosellsharesasafirststeptowardliftingitssuspensiononnewIPOsindomesticmarkets,butnotimetablehasbeenset,domesticmediareportedMonday.

　　Chinaisproceedingwithaseriesofmarketreformsaimedatrevivingitssharesmarkets,whichremainmiredinafour-yearslump.

　　Inmid-2005,ChinasuspendednewIPOsindomesticmarketsinanefforttopropupsaggingstockprices,weigheddownbyinvestorconcernsovertheshare-reformplantosellmorethanUS$250billioninState-heldshares.

　　"

WewilllookatallowinglistedcompaniestosellsharesbeforeapprovinganynewIPOs,"

theFinancialNewsquotedShangFulin,thetopsecuritiesregulator,assayingataconference.

　　Reformsinstate-heldsharesneedtobebuiltuponsolidcapitalmarkets,saidShang,addingthatthelastmileofreformswouldbethemostdifficult.

　　Lastmonth,Chinascrappedcapitalgainstaxesforforeignstockinvestors.

　　Thegovernmentisintensifyingeffortstolureforeigncashintoitsmainstockmarket,viaaQualifiedForeignInstitutionalInvestor（QFII）schemethatletsoverseasfirmsinvestinprimarystockanddebtmarkets.

　　TheindexwasAsia'

sworstperformingmajormarketbenchmarkstockindexinboth2005and2004.

　　Whiletryingtoreforminefficientcapitalmarketstogivedomesticfirmsanotherfund-raisingoptionbesidesbanks,Chinaisalsotryingtoenhancecorporatetransparencyandboostprofitability.

　　Shang'

scommentscomeafteraleadingeconomicofficialsaidSaturdaythateffortstoreviveitssicklystockmarketsarelikelytoworkonlyif"

poorquality"

listedcompaniesareeliminatedfromtrading.

RaisingthequalityofChina'

slistedcompaniesistheonlypermanentcurethatcanensurepublicinvestors'

fundamentalinterests,"

saidChengSiwei,avicechairmanoftheStandingCommitteeoftheNationalPeople'

sCongress.

政府加快开放期货业

Althoughthefuturesindustryistheonlyfinancialsectorthathasnosettimetableforopening-upunderChina'

sWTOcommitment,therearesignsthatthegovernmentisalreadymovingfastonthisfront.

　　Thequickpace,whichbecameapparentlatelastyear,isexpectedtostimulatethecountry'

sstill-strugglingfuturesindustry,analystsandwatcherssay.

　　UnderSupplementIIofCEPA（MainlandandHongKongCloserEconomicPartnershipAgreement）,apactsignedin2004toboosttheeconomicco-operationbetweenHongKongandtheChinesemainland,qualifieddomesticfuturesbrokeragewillbeallowedtosetuptheirsubsidiariesinHongKongbeginningfromthisyear.

Domesticfuturesindustry'

senthusiasmforbranchingoutinHongKongisobviouslystrong,"

saidChenXiaodi,aresearcherwithChinaInternationalFuturesCoLtd,China'

sfutureshousebellwether.

Itcouldbroadentheirinvestmentchannelsastheycouldengageinbusinessthatiscurrentlyunavailableindomesticmarketsuchastradingoffinancialderivatives,"

Chensaid.

　　TheforayintoHongKong,analystssay,wouldalsoprovideaninvestmentconduitfordomesticinvestorsandaplatformfordomesticenterprisesthathavebusinessneeds,suchasresource-extensivesectors.

　　Currently,only31domesticenterprisesareauthorizedtotradefuturesoverseasforarbitrage,butmanymorearesaidtobeinterestedingettingalicence.AnalystssaythispotentialcustomerpoolmaybecometheprimarytargetfordomesticfuturesfirmsaftertheysetuptheirsubsidiariesinHongKong.

　　Whiledomesticfuturesplayersareenteringoverseasturfs,foreigninvestorsaremovingin.

　　ChinapublishednewruleslastAugustthatallowforeignbrokersregisteredinHongKongorMacaotoformventureswithChinesepartners.

　　Companieswithatleast50millionyuan（US$6.2million）ofregisteredcapitalandthathavebeeninthefuturesbrokingbusinessforatleastfiveyearsandhavemadeprofitsinthelatesttwoyearscanapplytosetupjoint-venturefutureshouseinChina,a