Govt to watch stock market closely

时间：2007-11-05 08:06:42

（单词翻译:单击）

Nov.5 - The government will take measures to prevent asset bubbles and avoid huge fluctuations1 in the stock market, Premier2 Wen Jiabao told reporters on Saturday.

 

Preventing asset bubbles is like preventing inflation and it is the government's responsibility to ensure a fair, healthy and transparent3 stock market, Wen said in Uzbekistan where he was attending the Sixth Meeting of Prime Ministers of Member States of the Shanghai Cooperation Organization.

 

He added that all measures will be market-oriented options rather than administrative4 actions.

 

The stability of the stock market relies on two basic factors: The quality of listed companies and a transparent market which protect not only the interests of enterprises, but also those of consumers, Wen said.

 

With more people having entered the stock market, abnormal fluctuations affect both the national economy and the interests of shareholders5, so the government will closely watch developments, he said.

 

Wen also said that lifting gasoline prices by 10 percent on November 1 was necessary to keep China's oil product prices partly in sync with global oil prices.

 

Fund Firms Warned against Misleading Public

 

China's Securities Regulatory Commission (CSRC) issued a notice on Sunday, urging fund companies to avoid blind expansion and forbidding them to mislead consumers in marketing7 or engage in speculative8 investment.

 

This second notice tailor-made to fund companies this year required domestic funds to strengthen risks controls in liquidity9 management and to bear in mind the concept of value investment.

 

The document said that fund firms or its employees should "exercise due diligence and make objective and reasonable public comments on investment".

 

Fund firms have been ordered not to expand the scale of their funds six months after the day they issued statements or started promotions10 for the issuance of new products.

 

General Manager Sun Zhichen with the Principal Asset Management Co. Ltd. of the China Construction Bank said that the move was "a rational and natural decision" of the supervisors11 in effort to curb12 market risks.

 

As fund firms currently run more than one-third of the negotiable market valuation of the mainland bourse, Sun said that the notice indicated that the CSRC would rein13 in new issuances and push fund firms to optimize14 their investing capability15 and liquidity management.

 

Latest figures from the CSRC showed that the aggregate16 equity17 of China's funds has shot up by nearly 10 percent in more than one month to 3.312 trillion yuan (about $444 billion) by the end of October, almost quadrupling the figure in the beginning of the year.

 

Although no new funds were issued since September 21, the combined scale of China's 341 funds run by 59 firms has grown by 9.56 percent or 159.1 billion shares to 2.055 trillion shares by the end of October, nearly 2.8 times as much as that in the beginning of the year.

 

Industry analysts18 attributed the rapid expansion of fund scale to the enthusiastic participation19 of individual investors20.

 

The third-quarter survey on household clients in cities and townships by the People's Bank of China showed funds have taken up 25.4 percent of household financial assets, up by 5.4 percentage points over the second quarter.

 

Another report by the Galaxy21 Securities Funds Research Center identified funds as the most rapidly growing financial sector22 because its assets have grown by 65 percent annually23 between 2003 and 2006, leaving far behind insurance, 32 percent and banking24 deposits 15 percent.

 

Sources with the CSRC said that the fund industry has growing healthily on the whole but there were new phenomena25 worthy26 of notice. For instance, some fund companies carry out unjust competition by not fully27 revealing investment risks, some ignore liquidity risks to go after better ratings and short-term returns while some fund managers engage in short swing trading or make improper28 comments on individual shares.

 

As open-ended funds are very susceptible29 to redemption, the CSRC warned of blind optimism amidst fund firms and urged them to tighten30 liquidity management.

 

To better protect the long-term interests of fund holders6, the CSRC said it would evaluate fund firms on their human resources, investment research capability, operation system management, customer services, risks management and internal control.

 

Third quarterly reports of fund firms showed that ten funds including Bosera Funds, China Asset Management, China Southern Fund Management and E Fund Management have each held assets of more than 100 billion yuan (about $13.4 billion). In the second quarter, there were only five.

 
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点击收听单词发音收听单词发音  

1 fluctuations 5ffd9bfff797526ec241b97cfb872d61     
波动，涨落，起伏( fluctuation的名词复数 )
参考例句：
  • He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
  • There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。
2 premier R19z3     
adj.首要的；n.总理，首相
参考例句：
  • The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
  • He requested that the premier grant him an internview.他要求那位总理接见他一次。
3 transparent Smhwx     
adj.明显的，无疑的；透明的
参考例句：
  • The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
  • The window glass is transparent.窗玻璃是透明的。
4 administrative fzDzkc     
adj.行政的，管理的
参考例句：
  • The administrative burden must be lifted from local government.必须解除地方政府的行政负担。
  • He regarded all these administrative details as beneath his notice.他认为行政管理上的这些琐事都不值一顾。
5 shareholders 7d3b0484233cf39bc3f4e3ebf97e69fe     
n.股东( shareholder的名词复数 )
参考例句：
  • The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
  • the company's fiduciary duty to its shareholders 公司对股东负有的受托责任
6 holders 79c0e3bbb1170e3018817c5f45ebf33f     
支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物
参考例句：
  • Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
  • It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。
7 marketing Boez7e     
n.行销，在市场的买卖，买东西
参考例句：
  • They are developing marketing network.他们正在发展销售网络。
  • He often goes marketing.他经常去市场做生意。
8 speculative uvjwd     
adj.思索性的，暝想性的，推理的
参考例句：
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。
9 liquidity VRXzb     
n.流动性，偿债能力，流动资产
参考例句：
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
10 promotions ea6aeb050f871384f25fba9c869cfe21     
促进( promotion的名词复数 )； 提升； 推广； 宣传
参考例句：
  • All services or promotions must have an appeal and wide application. 所有服务或促销工作都必须具有吸引力和广泛的适用性。
  • He promptly directed the highest promotions and decorations for General MacArthur. 他授予麦克阿瑟将军以最高的官阶和勋奖。
11 supervisors 80530f394132f10fbf245e5fb15e2667     
n.监督者，管理者( supervisor的名词复数 )
参考例句：
  • I think the best technical people make the best supervisors. 我认为最好的技术人员可以成为最好的管理人员。 来自辞典例句
  • Even the foremen or first-level supervisors have a staffing responsibility. 甚至领班或第一线的监督人员也有任用的责任。 来自辞典例句
12 curb LmRyy     
n.场外证券市场，场外交易；vt.制止，抑制
参考例句：
  • I could not curb my anger.我按捺不住我的愤怒。
  • You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。
13 rein xVsxs     
n.疆绳，统治，支配；vt.以僵绳控制，统治
参考例句：
  • The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
  • He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。
14 optimize WIoxY     
v.使优化 [=optimise]
参考例句：
  • We should optimize the composition of the Standing Committees.优化人大常委会组成人员的结构。
  • We should optimize our import mix and focus on bringing in advanced technology and key equipment.优化进口结构，着重引进先进技术和关键设备。
15 capability JsGzZ     
n.能力；才能；(pl)可发展的能力或特性等
参考例句：
  • She has the capability to become a very fine actress.她有潜力成为杰出演员。
  • Organizing a whole department is beyond his capability.组织整个部门是他能力以外的事。
16 aggregate cKOyE     
adj.总计的，集合的；n.总数；v.合计；集合
参考例句：
  • The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
  • The money collected will aggregate a thousand dollars.进帐总额将达一千美元。
17 equity ji8zp     
n.公正，公平，（无固定利息的）股票
参考例句：
  • They shared the work of the house with equity.他们公平地分担家务。
  • To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。
18 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
19 participation KS9zu     
n.参与，参加，分享
参考例句：
  • Some of the magic tricks called for audience participation.有些魔术要求有观众的参与。
  • The scheme aims to encourage increased participation in sporting activities.这个方案旨在鼓励大众更多地参与体育活动。
20 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
21 galaxy OhoxB     
n.星系；银河系；一群(杰出或著名的人物)
参考例句：
  • The earth is one of the planets in the Galaxy.地球是银河系中的星球之一。
  • The company has a galaxy of talent.该公司拥有一批优秀的人才。
22 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
23 annually VzYzNO     
adv.一年一次，每年
参考例句：
  • Many migratory birds visit this lake annually.许多候鸟每年到这个湖上作短期逗留。
  • They celebrate their wedding anniversary annually.他们每年庆祝一番结婚纪念日。
24 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
25 phenomena 8N9xp     
n.现象
参考例句：
  • Ade couldn't relate the phenomena with any theory he knew.艾德无法用他所知道的任何理论来解释这种现象。
  • The object of these experiments was to find the connection,if any,between the two phenomena.这些实验的目的就是探索这两种现象之间的联系，如果存在着任何联系的话。
26 worthy vftwB     
adj.(of)值得的，配得上的；有价值的
参考例句：
  • I did not esteem him to be worthy of trust.我认为他不值得信赖。
  • There occurred nothing that was worthy to be mentioned.没有值得一提的事发生。
27 fully Gfuzd     
adv.完全地，全部地，彻底地；充分地
参考例句：
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
28 improper b9txi     
adj.不适当的，不合适的，不正确的，不合礼仪的
参考例句：
  • Short trousers are improper at a dance.舞会上穿短裤不成体统。
  • Laughing and joking are improper at a funeral.葬礼时大笑和开玩笑是不合适的。
29 susceptible 4rrw7     
adj.过敏的，敏感的；易动感情的，易受感动的
参考例句：
  • Children are more susceptible than adults.孩子比成人易受感动。
  • We are all susceptible to advertising.我们都易受广告的影响。
30 tighten 9oYwI     
v.(使)变紧；(使)绷紧
参考例句：
  • Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
  • Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

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