<![CDATA[Ask Caixin_English_财新网]]> http://english.caing.com/ask/index.html UTF-8 http://english.caing.com/ask/index.html www.caing.com 60 <![CDATA[What is the significance of the China-ASEAN FTA Agreement? ]]> The China-ASEAN FTA Agreement is a strategic game-changer when put in a larger perspective. The biggest impact on trade through the agreement will not be between China vis-à-vis ASEAN countries individually, but rather, through inter-country trade within the ASEAN Union.

The FTA agreement covers a region of 1.9 billion people, and a trade volume of US$ 4.5 trillion. It is the largest free trade agreement in the developing world.

Outside of trade, the agreement represents increased integration among East Asian nations. Amongst ASEAN countries, two abiding interests impel the momentum for greater cooperation – keeping sea routes open and freer regional trade.

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]]> Sun, 10 Jan 2010 20:08:22 +0800 <![CDATA[How will the 12th Five-Year Plan address environmental issues?]]> The winter of 2009 witnessed China's boldest environmental declarations thus far. China's State Council stated that carbon intensity will be reduced by 40 to 45 percent by 2020, compared with 2005 levels. To this end, the current plan is to have alternative energy meet 15 percent of the country's energy needs by 2020, according to the National Development and Reform Commission (NDRC). The most updated figures suggest that alternative energy is at the half-way point towards reaching those goals.  

Officials are currently discussing how to align these goals with the 12th Five-Year Plan (2010-2015).  On a national level, the NDRC recently launched 15 national energy research centers. According to Professor He Jiankun of Tsinghua University, the central government spent 1.5 trillion yuan on the 11th 5-Year Plan, and it will need to increase spending by 45 percent to achieve the current carbon intensity goals. Exact allocations of spending for green energy projects are still being discussed.

Regionally, three geographical centers stand out as green energy hubs: Wuxi, in southwestern China's Jiangsu province, is believed by experts to have the strongest R&D capabilities; Baoding City in Hebei, is regarded as the center of clean energy manufacturing; Inner Mongolia is viewed to have natural attributes for projects such as wind-power. Local-level officials have expressed an intention to pursue pilot carbon trading programs but have cited issues with a lack of expertise and planning.

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]]> Sun, 10 Jan 2010 20:07:44 +0800 <![CDATA[Financial Crisis: Impact on China]]> Q: How much money have Chinese financial institutions (banks, funds, investment vehicles) lost to date in the ongoing financial crisis?

A: The following are the present reports of losses of Chinese financial institutions, as much as we can find.

Bank of China: As of September 2008, Bank of China held US$ 3.274 billion of U.S. sub-prime mortgage-backed securities, US$ 1.379 billion in Alt-A mortgage-backed securities, and $4.337 billion of Non-Agency mortgage-backed securities, for a total of US$ 8.99 billion.

China Construction Bank: As of September 2008, the bank held US$ 244 million of U.S. sub-prime mortgage-backed securities, US$ 191 million of Lehman Brothers-related debts, and US$ 1.512 billion of securities connected to Freddie Mac and Fannie Mae. It is preparing to write down US$ 673 million.

Industrial and Commercial Bank of China: As of September, US$ 1.207 billion of U.S. sub-prime mortgage-backed securities, US$ 605 million of Alt-A mortgage-backed securities, US$ 55 million in structured securities, for a total of US$ 1.867 billion.

China Merchants Bank: The bank has sold off all its Freddie Mac and Fannie Mae mortgage-backed securities, earning a small profit; however, it still owns US$ 70 million of Lehman Brothers-related debts. They possess no more sub-prime mortgage securities.

China Investment Cooperation: The bank's investment loss is estimated between US$ 40 million and US$ 80 million by its investment in Reserve Primary Fund, which was affected by Lehman Brothers' bankruptcy. CIC also suffers from losses on Blackstone and Morgan Stanley.

Ping An Insurance Group: Losses have reached 10.5 billion yuan due to its Fortis Group holdings.


China Development Bank: The bank owns 1,500 million shares of Baclays Bank. They bought in at 7.2 pounds per share, a price that has now dropped to 3.3 pounds per share.

State Administration of Foreign Exchange's investment losses in WAMU is unknown.

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]]> Fri, 04 Jan 2008 10:21:10 +0800 <![CDATA[Who owns Huawei?]]>

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