Chinese walker

he US dollar and the Japanese yen maintained a strong tone in the past fortnight as risk aversion flows continued to dominate trading in financial markets. Investor sentiment was hit by a slew of bad news, including weaker than expected reports and poor earnings at major global banks. In addition, the downgrades or potential downgrades to sovereign ratings of some of the euro zone and other economies, including Greece, Spain, Portugal, Ireland and New Zealand due to their deteriorating fiscal conditions also hurt confidence.
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The stock market is a place where stocks, bonds, or other securities are bought and sold. When you buy stocks or shares in a company you gain part ownership in that company.

Assorts of stocks in stock market:
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The noticeable weakening of the spot Chinese yuan (CNY) against the US dollar (USD) in the first few days of December fanned expectations that the Mainland authorities would reverse their policy of CNY appreciation against the greenback. A marked slowdown in domestic and external demand since 3Q 2008 has put the authorities under great pressure to devalue the CNY as a means to stimulating exports.
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The VAT transformation reform allows the input credit for the purchase of capital equipment to be offset against the output VAT. That will eliminate the double taxation resulting from the adoption of the production-type VAT system, reduce the
tax burden for investment in capital equipment, and a major tax cutting policy without introducing a change in the urrent tax rates. Since it can avoid double tax in the purchase of capital equipment, it will encourage investment, increase the demand in the domestic market, promote technological advancement, adjust the industry structure and the transformation pattern of the economic growth. Currently, the financial tsunami triggered by the sub-prime mortgage crisis has spread to Europe,Asia, and Latin America. Global economic growth rate has obviously been slowed down. Some countries have shown signs of economic recession. The financial crises have adverse impact on the real economy.

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The first is to allow deduction of the input VAT for purchased fixed assets. Before the amendment, input VAT is not allowed to get deducted from the output VAT. The production type VAT system is adopted and that has increased the tax burden of the enterprise buying the machinery and equipment. To reduce the tax burden, the revised VAT regulations remove the practice of such non-deduction, and allow the taxpayer to deduct the input VAT for purchased fixed assets. That helps achieve the transformation of the production type VAT system to one of consumption type.

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Here we are yet again in the midst of another “global economic crisis.” From the hilltops of Davos, Switzerland, Morgan Stanley’s permabear Stephen Roach has shouted warnings of potential economic “Armageddon.” Superinvestor George Soros designated the current state of the global economy “the worst market crisis in 60 years.” Bill Clinton labeled it “the biggest financial crisis since the Great Depression” —— even as global stocks responded by slumping 7.7% in January —— the worst start to an investing year since Morgan Stanley began publishing data in the 1970s.

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    US Treasuries closed higher in February on renewed economic concerns, which centred on the housing market as mortgage defaults rose sharply. Weaker than expected data also added to the upward pressure on prices and pushed the yield on the 10-year Treasury down to 4.56%. The German bund closed the month with a modest gain on market expectations that a weaker US economy would impact global growth, which in turn would slow the pace of interest rate increases from the European Central Bank

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  China shares fell in February with the H share and MSCI China indices down 3.3% and 1.7% respectively. Concerns that the central government may introduce measures to control speculation in the domestic stock market in anticipation of the annual National People’s Congress meeting triggered the selloff. China financials underperformed the market on profit taking and the People’s Bank Of China’s decision to absorb excess liquidity by increasing the reserve requirement ratio by 0.5% to 10% just before the week-long Chinese New Year holiday. Commodity stocks went up in February on global price rebound.Investors’ focus remained on the newly listed IPOs.

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The National Meeting on Commercial Works which lasted two days was held in Beijing on December 23 and December 24. The meeting emphasized the general requirements on the commercial requirements of 2009, which are: fully implementing the spirits of the 17th CPC National Congress and the Third Plenum of the 17th Party Congress, taking the Deng Xiaoping Theory and the important thoughts of “Three Represents” as guidance, deeply implementing and fulfilling the scientific outlook on development, taking “expanding of domestic demands and maintaining steady development of foreign trades” as the focuses, improving the policies, enhancing the services, wholly planning both the domestic and international markets and resources, accelerating the structural readjustment and transition of development modes, and achieving a effective and rapid development of commercial businesses.

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Commerce Minister Chen Deming said on Tuesday that he expected China’s foreign trade to grow about 18percent to 2.6 trillion U.S. dollars for 2008 as a whole, despite the downturn in foreign demand during the second half.

He also estimated that foreign investment had exceeded 90 billion U.S. dollars, up about 20 percent.

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