The financial crisis swept the world in 2008, and its impact

The scale, scope and depth are unprecedented. exist

Loose monetary policies and proactive fiscal policies in various countries.

Stimulated by this, China's economy took the lead in bottoming out in the world.

The economies of various countries began to stabilize and gradually recover.

Although the financial crisis broke out without depth.

It spread to China's capital market, but it did harm to China's economy.

The future development puts forward the necessity of rethinking.

Economic restructuring promotes China's economy.

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Structural losses of the world economy in the process of globalization

Balance is an important reason for the global spread of the financial crisis. along with

Developed economies, such as the United States, borrowed too much.

Consumption level; Emerging market countries represented by China.

Home, and then form an export-oriented economic growth model.

Type, the dependence of its economic growth on export demand is not

Break up, and a large amount of foreign exchange reserves accumulated by exports are

Lend to the United States at extremely low interest rates to maintain its long-term borrowing.

Debt consumption. With high consumption and high leverage in developed economies

When the rod accumulates to a certain extent, this imbalance will be inevitable.

In the form of financial crisis. The new economy is flat.

The formation of the balance point depends on developed economies such as the United States.

The "deleveraging" of economic entities means increasing the savings rate and reducing it.

Low debt; Second, it depends on emerging markets such as China.

The improvement of economic internal structure depends on expanding domestic demand.

Digest excess capacity.

China's long-term dependence on exports and investment has increased the size of its economy.

This long pattern is what distinguishes it from other major economies.

One of the main features. China is the third largest economy in the world.

Body, but private consumption expenditure currently only accounts for GDP.

Less than 40%, while consumption in other larger economies

Expenditure mostly accounts for 60% or more of GDP.

The main reason for China's insufficient consumption is residents.

With limited income, China needs to improve its social security system.

Departments have to rely on savings to pay high pensions.

Medical, housing, education and other expenses, and the resulting

Prudent consumption attitude.

Personal consumption expenditure in the United States accounts for nearly 70% of GDP.

It is the main driving force of American economic growth. American warehousing

As long as the storage rate is adjusted by one percentage point, for

As far as China relies on exports to develop its economy is concerned.

It means a major adjustment. China's GDP in the first three quarters

Growth of 7.7%, of which final consumption accounted for GDP.

The contribution is 4 percentage points, and the investment contribution is 7.3.

Exports reduced GDP by 3.6 percentage points.

Point. This shows that an economy that has long been dependent on exports

The development model is unsustainable.

In the case that the export level cannot be compared with previous years.

Next, China still maintains stability by stimulating domestic demand.

Economic growth. Although the global financial crisis broke out

In the past 30 years of reform and opening-up, the export scale of China is unprecedented.

There were some difficulties and challenges, but we also adjusted our vote for China.

Capital, consumption and export have the best contribution to economic growth.

Proportion and optimal function provide opportunities. finance

In the late period of the crisis, the economic stimulus policy launched by China government.

This case focuses on social security and consumption, and is committed to

Emphasize the adjustment of economic structure of investment and export.

The whole. Therefore, through this round of economic crisis, China

Policymakers are studying the domestic economic growth model.

Consider long-term transformation. We expect China's

Domestic consumption will determine the future economic structure of China.

According to an increasingly important proportion.

Opportunities faced by China's capital market

Undoubtedly, the global financial crisis has impacted the past financial market order and brought financial services to various economies.

The ups and downs of the market provide opportunities. At present, China.

It is the largest and most promising emerging market economy.

Health is the focus and expectation of developed countries all over the world.

Release the important developing financial capital market.

China is a potential beneficiary of the financial crisis.

Who? The area hardest hit by the financial crisis is

The most developed financial market and the use of credit expansion tools

The most marketable. Compared with European and American markets, China is subject to

The impact of the financial crisis is much smaller. Despite Kim

The financial crisis evaporated hundreds of trillions of dollars in book wealth.

Rich, but the global fund has not dried up, and is drying up.

Seek the best direction of market capital flow.

Cash income.

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Generally speaking, the flow of international funds is in line with

The following preferences: First, economies with faster economic recovery,

Good fundamentals and rapid growth mean more.

Investment opportunities, such as emerging markets; The second is underestimation.

But relatively safe market areas, such as oil and mining.

Commodity markets for resources such as production; The third is money.

In an undervalued market, there is the possibility of asset appreciation.

In this sense, China meets all three conditions.

Preference for the flow of gold.

Therefore, the financial crisis gave China capital.

Market Internationalization and the Perfection and Development of Financial Market

Exhibition, as well as China enterprises "going out" to provide before.

An unprecedented opportunity. Here are some things worth shutting down in the next few years.

Three main trends worth noting.

Shanghai has developed into an important global financial center.

One of the centers

China leaders hope to turn Shanghai into a city by 2020.

Build into an international financial center and an international shipping center.

And manufacturing base. Despite the global financial crisis,

China still insists on financial reform. In the past few years,

Some significant progress was also made in May. May, Zhong Shi.

China Oil and Gas Co., Ltd., the parent company of petroleum.

Division became the first non-financial enterprise to issue US dollar bonds.

Industry is one of the internationalization processes of China bond market.

Milestones. If more companies join the ranks,

It will form a way to absorb dollars into the transaction.

China's important mechanism. The funds raised can be used to support

Control the overseas investment activities of China companies, instead of

Convert into local currency.

The Shanghai Municipal Government also indicated that it would, in due course.

30 2009 12 international financing

Waiting for approval of foreign companies to list on Shanghai Stock Exchange. it is reported (that)

Road, including NYSE Euronext Group.

(NYSE Euronext) and HSBC.

Many overseas companies are competing to become.

The first companies listed in China. China Mobile has

I hope to be the first one to pass the China Depositary Receipt (CDR)

Overseas registered China companies listed on Shanghai Stock Exchange.

Organization.

20 companies with the highest market value in the world

Among them, there are five in China, but there are countless.

Growing companies and a growing middle class

The financial market has a good development prospect. Shanghai government

The establishment of international financial center and the development of China's financial market.

Exhibition and improvement will eventually achieve "finance is more important than the world."

The center of gravity has obviously shifted to the east. "

The RMB is gradually moving towards internationalization.

As the largest creditor in the United States, China is very worried

America's "quantitative easing" policy will lead to inflation.

The rise and depreciation of the dollar, so bonds are adjusted to

Date, and transfer funds out of institutional bonds, while increasing holdings.

Short-term bonds with a maturity of one year or less. Total sum

Although its reserve growth has slowed down, it continues.

Continue to buy government bonds. Gradually reduce the reserve portfolio

At the same time, China's commodity investment also faces credit risk.

It is also gradually increasing. In addition, China is also actively promoting.

The role of RMB as a regional trade settlement currency

Function.

Zhou Xiaochuan, governor of the Bank of China, previously called for

The proposal to reform the international monetary system triggered

The most controversial part of the heated discussion is architecture.

Regarding the expansion of the International Monetary Fund (IMF) special

The scope of use of SDR has created a kind of

A new reserve currency decoupled from sovereign states. Xiao Zhou

Chuan believes that the value of the global reserve currency must be "super"

It is divorced from the economic situation and interests of any country. "existence

Among the proposals about SDR, one of them is the proposal of expansion.

There is a realistic basis for the basket currency range with large SDR value.

Issuers backed by international assets (such as reserve funds)

Type. At present, among the IMF with the largest foreign exchange reserves,

Among the member countries, only the Japanese yen is included in the SDR basket.

Money. It can be inferred that China is eagerly looking forward to the RMB.

Become one of the basket currencies of SDR pricing, and then promote

Enter the internationalization of RMB.

The internationalization of RMB may not be achieved in one step.

Global use, but first regionalization, and gradually globalization.

China enterprises "go global"

In the post-financial crisis era, we are delighted to see that

Let more and more China enterprises "go out" firmly.

Let's begin. Some China enterprises seize the post-finance

Opportunities in this crisis era have begun to go international.

The frontier of mergers and acquisitions began to shift to multinational companies.

Organization. Now, M&A has become the mainstream. if

Direct investment in building factories, first, the production capacity may be too high.

Surplus; Second, the cycle may be too long and lead to miss.

Market opportunities, so use mergers and acquisitions to increase their output.

Product chain and industrial chain are widely adopted by listed companies.

The way.

The global financial crisis has led to many developed countries

Lack of liquidity not only affects the finances of these countries.

System, but also began to spread to their real economy. On tiptoe

The industry is generally facing financial constraints, the first one being China.

Small business. In order to maintain normal production and operation.

In order to act and prevent the capital chain from breaking, these enterprises urgently need to pass.

Solve the problem of funds through equity transfer. This is exactly like me.

The investment needs of China enterprises are complementary, while those of China enterprises are complementary.

The market is rich, but it lacks technology, brand and market.

Through equity investment, equity participation or purchase of world-class enterprises.

Industry can give China enterprises the opportunity to share their technology.

The benefits brought by brands and markets can also be learned in middle schools.

Management experience and other useful things.

Larger financing in developed economies such as the United States.

Investment institutions, there are a large number of high-quality enterprises.

Stocks or bonds, and most of them have great value-added potential.

Excellent assets, including some high-tech categories.

Enterprise assets and energy enterprises. With this

Some financial investment institutions are in crisis, and these assets

Forced transfer. At the same time, the crisis also directly affects its position.

Investing in the asset price of an enterprise leads to a large share price of the enterprise.

The picture falls. At this point, buy selectively through the stock market.

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Shares in some technology and energy companies,

It is of great significance to participate in resource development cooperation.

Justice.

We believe that the way of international mergers and acquisitions of China enterprises

There is still a long way to go on the road, so we should reserve "going out"

All kinds of knowledge and talents needed for "going" need the country.

International experienced professional institutions give guidance and suggestions,

Gradually expand China enterprises.

Become stronger.