Friday, May 27, 2011

Xudong Chen : Lepad in the Chinese market in short supply

On May 26, Xudong Chen, General Manager of Lenovo China said today, in spite of the Apple iPad's price cuts sniper, but Lenovo does not follow the expected Apple to lower prices listed, Le pad in the Chinese market is still in short supply.

Lenovo Group CEO Yang yuanqing said yesterday its pad at the end of March after putting on the market, the favourable response, and in short supply, it is expected that accounted for at the end of this year as a whole 20 shares in the tablet computer market. Beginning this summer, Lenovo will promote in overseas markets music pad and ThinkPad tablet.

It is learnt that the Lenovo Group announced today the IV quarter and annual results ended March 31, 2011. Lenovo Group today reported results for the year 2010, Association 2010 annual revenues in the fiscal year 215. US $900 million, increased 30 per cent, and net profit of 2. US $7.3 billion, up 112 per cent. Year - long global market share of 10. 2%.

Lenovo 2010/11 net $273,000,000 fiscal year

The afternoon of May 26 news, Lenovo Group today announced the IV quarter and annual results ended March 31, 2011. Lenovo Group today reported results for the year 2010, Association 2010 annual revenues in the fiscal year 215. US $900 million, increased 30 per cent, and net profit of 2. US $7.3 billion, up 112 per cent. Year - long global market share of 10. 2%.

Lenovo bugnein comprehensive sales year for the IV quarter increased 13 per cent. US $800 million, operating profit excluding restructuring costs, one-time expenses and other net income of us $69 million, increased by nearly 50 years bugnein. Gross profit margin to 12. 3 has raised 1. 9%. Lenovo's profit before tax in the same quarter to us $60 million, is three times last year. Profit attributable to shareholders to $42 million, is three times more than last year.

Board of Directors of Lenovo Chairman LIU Chuanzhi said : " this is an associative breakthrough year, the Board expressed satisfaction with the quarterly and annual results. Lenovo performance supporting companies to meet short-term and quarterly goals, long-term competitiveness is strengthened. Robust results demonstrate our present strategies, and implementation of strong. However, in addition to we celebrate the success, the group will focus on the development of global business challenge. Innovative products, focusing on strategy and a strong corporate culture will always be associative key to future success. ”

Thursday, May 19, 2011

Standard Chartered the prospect which settles accounts to the Renminbi interstate trade is very optimistic

Chartered Bank (China) Limited company cash management chief President concurrently routine Vice-President Lin Yuandong indicated that Standard Chartered the prospect which settles accounts to the Renminbi interstate trade is optimistic. The following is Lin Yuandong the part speech content: just introduced the Renminbi internationalization advancement, Chartered Bank takes seriously actually regarding this development, actually we also felt that allows the good fortune to be possible to have this kind of opportunity, participates in this kind of developing process, because I want not to have too many opportunities in our life, may participate in such important one currency, inside an internationalization journey. in the past two years, we might see the Renminbi internationalization advancement, indeed developed is quick, i.e. entire profession everybody each quarter very diligently did, what but had a point to need saying that the related supervision organization they in impelled above this matter, for organization, for enterprise various help, continued to serve, this was arrives, or thought that is impossible in such a short time to have today this kind of development. Therefore said that director to today development is not very satisfied, but we turn head looked, actually the time is very short, today's result is good. Standard Chartered above participation Renminbi internationalization matter, actually as early as before policy releasing, we were already on own initiative went with the related supervision organization exchange, made some our suggestion, prepared for own, when after therefore the policy came out, we very quick can launch some services. How for example to use us in the bank international network, supports this kind of matter, then the customer education is also very important one. Because Renminbi interstate settlement, not only says to the bank is a new service, to the enterprise is also new. Many enterprises have not done. Everybody must exchange through time, goes with the customer communication, lets them understand why uses the Renminbi to settle accounts, has what advantage? This we saw slowly the market is very quick. I thought that Chartered Bank settles accounts this service to the Renminbi interstate trade to be excited, then is very optimistic to this prospect.

The Renminbi internationalization saves two major problem currency substitution to bring extra outside Chu to grow

The Chinese academy of social sciences financial deputy director of institute, said current YanJianFeng RMB internationalization facing two questions, with less, import export with more. Although the imported more than with the yuan is going out a channel, but produced additional monetary substitution foreign exchange reserves rose effect, is we need to consider. Below is part YanJianFeng speech content:

[YanJianFeng] major economies, its currency is successfully realized internationalization, and become the most key reserve currency, such as pounds, such as dollars. The IMF statistics can recognize foreign exchange reserve about 60 is dollars, 30% is euros, for the remaining 10% currencies such as the yen's. From this point of view, the yen it is not a important reserve currency, and the yen has other foreign exchange to support behind, from this perspective, the Japanese yen internationalization is a failure, the yen will fail? Why internationalization From the 1980s and 1990s including many Japanese and American scholars in studying this problem. One Japanese scholar summarized in 1982 72 years to 82 years ten years, Japan in the import and export of the situation, found that the use of the yen to 80 years Japan's export trade 34% just use yen, and only 4% import trade using yen. This situation just and China instead, China's import trade using multi, export trade use less. Japan mainly because more than 50% energy commodities, and commodities priced in dollars, is developed the commodity futures trading market $decision. Japan's export trade is far lower than the west Germany, they found at Japan's export trade at a quarter to the United States, probably the same scale is there time for the European economic community. The two parts yen use proportion is very small, almost impossible. This tell us today cross-border trade settlement phenomenon of yuan, can see fits well in guangdong, why RMB cross-border settlement much bigger than Shanghai. I think one of them is mainly guangdong facing southeast Asia, Shanghai here face euramerican day this economy. When Japanese faces and today China very much like the export, especially for strong economies export trade yen difficult to launch. [21:03:43]

[YanJianFeng] we know from 84 years may, Japan and the United States, founded the yen dollars to push the yen committee began the internationalization. The yen has a very important international was the characteristics, capital of open, open the speed and scale of far more quickly than in Japan the domestic financial system reform. So from 84 years second half of the year begins, as the yen internationalization advancement, Japan offshoring market developing rapidly, particularly 85 years under the background of the yen and the yen offshore financial market is developing very fast. But the yen offshore financial market is a very deformity of the market, in two types of deals is mainly. Kind of trading is in Japan's financial institutions have shifted money offshore market, such as London, United States, Hong Kong, then from offshore market shift money to Japan. When Japanese study author says capital cycle is debt loans, anyway, the Japanese himself playing his money. Offshore financial market and international investors, part transaction is in borrowed yen to not want to hold yen, they found that international investors to yen-based bonds and stocks have no interest at all, they borrowed yen into dollars and other currencies immediately invest the United States and Europe. Offshore in the market main trading is the former, funds from Japan is out, through offshore markets turn a circle back to Japan, back to Japan main stem what? The stock market is the main, Fried real estate. [21:06:34]

[YanJianFeng] in the 1990s, Japan's economic crisis and the offshore money reflux is actually closely related. So to say more straightforward bit, yen internationalization, Japan offshore market debt market development, is actually shore Japanese play by myself oneself of money, finally put himself play dead. [21:07:40]

[YanJianFeng] from yen internationalization failure to see, at present China facing two questions, with less, import export with more. Of course the import is more with the RMB can walk out a channel, but how to solve the extra generated currency substitute the effect of foreign exchange reserves rose, is we need to consider, whether we can take encourage export trade use renminbi some concrete measures? Another are we going to make our exchange rate more flexible.

2007 entered the bloating time present to be stern

in 2011 the Lu Jiazui forum convenes on 19th - 21st in Shanghai. On May 19 evening, scholar Xie Guozhong indicated that 2007 entered the bloating time, today has been stern. The following is the Xie Guozhong part speech content: the China's bloating question, said today is very stern, the price change is specially big, for example high and low changes 2%, 30. After China reform and open policy, the third time faced with such bloating question. The bloating is the currency increase influence. This currency increases the speed is quick, in 2007 I thought that already entered the bloating time, the state enterprise reform later labor force is surplus, joins WTO later to invest the transnational enterprise to China expands the easy childbirth energy, the energy price was quite low, presents the currency to increase the special stage which got unhooked with the bloating, this special stage was because the element of production too much caused.

Wednesday, May 18, 2011

Multinational audit supervision china-related shares face grey area or will disappear

Sino-american supervision department after nearly four years consultations, the fastest will be in the next few months (stated) would reach a multinational regulatory agreement. For mainland China over 40 accounting firm in their participation concerned, the listed company auditing business to have years of grey zone or will disappear.

The American public company accounting oversight board (hereinafter referred to as the "PCAOB") to our correspondent said officials, given the ongoing china-related shares for a year and obvious financial accounting resignation, the two countries of finance and securities regulators to discuss solutions will hopefully in the achieved in recent settles (near term). The United States, and China is direct appeal will assume the public company auditing of the regulatory reach information interchange, firm joint spot checks and special investigations work mechanism. While the Chinese in the U.S. also enjoy equal rights.

China has agreed to speed up regulatory cooperation. A former China securities regulatory commission, international cooperation department chief says, mainland China, though not independent accounting are in the listed company undertake business, but often large audit to participate in work, by the same brand of foreign branch office under the accountant sign.

Outside the U.S., global 87 countries and regions where more than 890 home affairs PCAOB registered to get engaged in the public company auditing qualification. The committee will unite the United States securities and exchange commission (SEC) and other regulators, check in the listed company work involved the audit conduct is appropriate American relevant regulations and standards. Now has 40 counties and regions and is signed joint regulatory framework, including Hong Kong SAR and Chinese Taipei.

Since home since March 16 china-related shares stopped dish, involving lots of well-known accountant firms customers. The industry. For firms audit male sex to have a general concerns. Industry insiders point, the provisions of the sino-us condominium to ease after china-related shares listed and regulatory effect remains to be seen.

This newspaper reported on May 2, in order to avoid China customer risks, big four firms have been suspended acceptance China reverse acquisition listed company customer. The SEC also begin to pay close attention to well-known firm was recently questioned audit of financial stocks.

Difficult years negotiations

Last week at the third round the u.s.-china strategic economic dialogue, the Chinese delegation led with wang qishan from the U.S. Treasury, securities and exchange commission and consultation with PCAOB official. United were included in the concrete issues regulation of the two countries, according to convention, dialogue communique often means opportunity resolution exist.

China-related shares face multinational audit supervision

Both sides in the communique said: "two nations welcome continue to bilateral talks... working hard to reach the agreement... multinational supervision two countries agree to accelerate the process together."

The United States, "sasha class in 2002 sarbanes-oxley legislation Sarbanes Oxley Act" (,) requirements - in the listed company assumes the firm audit business, must submit to subordinate PCAOB regularly report, accept daily inspection and special investigations. China has over 40 firm registered PCAOB, but past for economic considerations, Chinese law secret over China does not support PCAOB officials inspecting these firms.

Four years ago, had round PCAOB for Asian countries "roadshow". Former members of the Charles nie MEL (Charles Niemeier) flight arrived in Beijing, visited China ministry of finance and securities regulatory matters. Communication joint Meanwhile, his colleagues also fly to South Korea, Japan. In the U.S. market, Chinese companies are listed by borrowing shell of admission.

"Meanwhile we investigate processing many U.S. small firm problem." PCAOB spokesman Colleen BuRuiNa Colleen, Brennan said. ( She provides the research report from 2007, PCAOB attention for a batch of china-related shares, existing problem of American firms list. This batch of firm's nearly two years, become a few short institutions questions China company basis.

Due to the negotiations between the two sides have been blocked, PCAOB also since last October, suspended since the PCAOB approval in Chinese affairs, an application for the registration of still eight registration engine mount. Although a large number of Chinese local accounting in the 20th century into the United States, the Chinese government accounting are branch, the regulator, is still natural two different accounting principles, make with little overseas business regulation.

But the problem in this year began to spread more widely. Including the famous "big four firms" and other famous Chinese branch of accounting are included, have involvement to china-related shares financial flaws.

Because investment Banks and private equity fund require some company transform the past an unknown technocrat audit institutions, the famous firms from the third quarter of the year began to usher in large number of potential customers. Meanwhile, they are many of the state-owend enterprise audit square, control certain economic operation data.

PCAOB chairman James s.dody (James Doty) in April 6, testified in the U.S. senate, said that China reverse acquisition of mergers) listed (reverse its frequency, the stock issues related to China's accounting firm supervision concerned.

Basic regulatory framework

No country willing to put the audit information too much exposure to other countries. PCAOB reply our newspaper says the sino-us joint supervision system, should the rudiment of January and April and with the British, Swiss regulators Protocol (Protocol) is similar. A committee also on April reveal this view, but did not specify China.

The above two agreement about the validity for 3 years. Whether the agreement with British or Switzerland, were divided into regulatory purpose, the scope of cooperation, information interchange and aspects of illicit close sex the specific terms. Both sides of the detailed regulations apply written application form (the response time limit) and (usually is ten working days), and the legal conflict exists when solving process.

Two copies of the scope of cooperation agreements also completely the same. One is both sides share information. Secondly, in the local jurisdiction accompanied by fang has launched a joint survey (inspect

Monday, May 16, 2011

The baidu collaborates to like blessing China to rescue first worry baby

The baidu company collaborates domestic first non-male to solicit the foundation to like blessing the China Charitable foundation to sponsor together 2011 “likes by the heart living” the charitable evening banquet to hold in the Pan Gu Big Dipper hotel. According to baidu foundation Secretary General Zhang Dongchen introduced that baidu Chairman concurrently CEO Li Yan great is invited into the director, the baidu public welfare foundation to open officially through the baidu public welfare channels and so on platform and information promotion, with likes blessing.

Yahoo! and the soft silver negotiates: Draws up sells the Yahoo! Japan 35% stocks

Yahoo! was discussing the other day with its partner soft silver, discussed that undersells 35% Yahoo! Japan stockholder's rights matters concerned which Yahoo! has. According to the Yahoo! Japan present market value 22,290,000,000 US dollars computations, Yahoo! has the Yahoo! Japan 35% stock value approximately is 7,800,000,000 US dollars. between the Yahoo! and the soft silver's stockholder's rights transfer question not greatly possibly gets it done in one action; Although the present negotiations are also continuing, but does not rule out the negotiations defeat's possibility. However if trades achieves, Yahoo! even more will possibly concentrate the Chinese market, this company will have the Alibaba group 39% stocks. the Yahoo! once was the Internet domain pacemaker, but in recent years caught up with by the google and Facebook these promising youths is surmounted.
Bought and so on Internet emerging domain aspects in the development such as public relations network and the group, Yahoo! also fell behind one step. Yahoo! this negotiations have also caused the people Alibaba 39% stockholder's rights this question which how to process it about Yahoo! to have. The soft silver also has Alibaba stockholder's rights, what the people cared is Yahoo! whether to sell its Alibaba stockholder's rights. the soft silver chief executive officer grandson just (Masayoshi Son) disclosed that he transfers its Alibaba stockholder's rights to Yahoo! to be interested very much. Mentioned that Yahoo! chief executive officer Carroll · Butz, the grandson indicated justly, “our benefit and her benefit are not contradictory, in the future we may realize win-win.

The Yahoo! name will pay the valuable reorganization not to attain the board of directors to authorize to consult continually

According to Pengboshe reported that American Yahoo! Corporation issued a statement saying today, the Alibaba group will pay the valuable online payment service to shift for other companies has not obtained the Alibaba group board of directors or shareholder's authorization, even they do not know the circumstances of the matter. the Yahoo! said today that has Alibaba group stock Yahoo! Corporation and the soft silver group, until March 31 only then learned that occurred the last August's matter of stockholder's rights shift. But Yahoo! said yesterday that Alibaba will pay the valuable controlling interest to shift a company which controls stock to Alibaba group chief executive officer Ma Yun, is to obey China to the foreign capital holding payment service definition.after the Yahoo! disclosed this news yesterday, after its company share plate, traded drops sharply 7.3%, to 17.17 US dollars. The market worried that Yahoo! exits this profit rich payment service holding power, will enable it to have the Ali group 40% stock value to sell at a discount greatly originally. Yahoo! relies on it to own stocks to the Ali group's high proportion, has obtained benefits from Internet development strong China quite a lot. the Yahoo! indicated today: “Yahoo! will continue with Alibaba clasp, and Yu Ruanyin the group guards its economic interest together for all benefit related side.”Yahoo! said that “we believed that all participation side continues the consultation will be achieves lets all shareholders satisfy this result the best opportunity. Yahoo! spokesperson Dana Lengkeek said yesterday that pays valuable needs to obtain the license plate from the People's Bank of China, can the operation related payment service, therefore pays the valuable need to be able to reorganize. the green light capital (Greenlight Capital) analyzes said that perhaps Yahoo! holds Alibaba stock to achieve the Yahoo! Corporation present market value level finally.

雅虎发言人Dana Lengkeek昨日称,支付宝需要从中国人民银行得到牌照,才能运营相关支付业务,因此支付宝需要得以重组。

绿光资本(Greenlight Capital)分析称,雅虎所持阿里巴巴的股份最终或许达到雅虎公司目前的市值水平。

Ma Yun the name pays the valuable reorganization is for the group and the shareholder benefit

Today holds in Hong Kong Alibaba B2B at Corporation general meeting of shareholders, Alibaba group board of directors president the concurrently chief executive officer horse cloud, responded for the first time has received the attention the payment valuable stockholder's rights change event.
Ma Yun had not denied that explicitly “pays the valuable reorganization not to attain the Alibaba group board of directors authorizes” the view, only stressed that said “for the group and the shareholder benefit, must such make” (transfer payment valuable stockholder's rights). the Yahoo! issued yesterday the statement name, Alibaba will pay valuable giving the company incident which controls stock to Ma Yun not to attain the board of directors to authorize. Ma Yun answers the shareholder at today's general meeting of shareholders time the question, is not explicit denied. Ma Yun said: “the payment treasure to our group, the shareholder biggest benefit is, if the payment treasure is illegal, if pays valuable has attained the license plate, washes valuable paralyzes. How washes paralyzes Alibaba to reform, how to grow valuable? As for the group management, only then means that only then a road, makes the correct decision. Tallies the national law, tallies the transparent principle, to tally lets the group sustained development.” “pays the valuable matter to be somewhat complex”, Ma Yun indicated that the Reba group has insisted three principles in the entire process: 100% legitimate, 100% transparent and insist company's lasting development. Ma Yun said that a board of directors time has not participation discusses, if did not know that this matter, is nobody can believe. the horse cloud simultaneously also indicated that pays the valuable question also in the discussion, not yet settles down.afterward the Alibaba CFO Cai respects and believes when accepts the net easy science and technology interview, also evades discussed pays reorganizes valuable whether to obtain the board of directors to authorize. He said that pays license plate's application for the third party, the Alibaba group must such do, is also gathers the gauge legitimately. about the Alibaba stockholder's rights buy-back's related progress, Ma Yun also at the meeting disclosed today that last year and Yahoo! discussed the stockholder's rights buy-back question, Yahoo! had agreed originally, but “the speech does not turn out as said” finally has terminated the negotiations, to this matter, he expressed that “is disappointed”.