CHINESE ALLOWED TO BUY SHARES IN LONDON

By Richard McGregor in Beijing and Neil Hume in London

Tuesday, December 18, 2007

Chinese citizens will soon be able to buy shares and mutual funds in London and New York through their local banks after a regulatory reform that marks a further step in the export of Chinese capital into global markets.

A scheme under which Chinese can now legally buy shares in Hong Kong will be extended to include London under an agreement between the China Banking Regulatory Commission and British regulators.

China is also negotiating a similar agreement with US regulators to further extend the scheme to the New York markets, a CBRC statement said.

From ftchinese.com

Read the full story, click here(English article)

What's news?

Yesterday's most important news was certainly the new climate-change pact approved by nearly 190 countries at the end of the Bali conference. This pact has planned  a new treaty in two years in order to replace the Kyoto protocols,which expires in 2012.

This pact,supported by the Bush Administration, has pointed out the responsibility of the developing countries- China , India, etc.- on the climate change issues. The United States claimed to differentiate between poorer,smaller developing countries and big emerging economic powers that can afford pollution-reduction powers, which means countries like China, can not ever concentrate on economic growth, you must considerate the environment now.

I think it's a good idea to remind China of its responsibility for environmental protection. China's economy is growing super rapidly and more and more concerns, both from the central government and the normal people, about the over heating and a eventual crash down appeared. In forcing companies to transform their expansion ways to a environmental friendly one, China could avoid the threat of  the hard landing of its economy ,also could build a better image in the world, for the concerns about a emerging China is growing all over the world.

Actually this is what the Chinese government is trying to do. The problem lies in the difference between the central government and the local government. Since at the beginning of 1980s, Deng Xiaoping proposed the " Let a part of Chinese get rich firstly, then the others" policy, now there exist  a big gap between the rich coastal regions  and the poor western provinces. Seeing others getting richer, every local government has to focus on economic growth in order to calm down people's dissatisfaction of their life level in comparison of habitant in the richer provinces. Furthermore, the GDP growth rate has been considered for long time as a crucial element in the merit system of functionaries. So even if the central government calls for more restriction on polluting companies , it is hard for local government to apply it.

Now the Chinese central government led by the Chinese Communist Party  must overcome these difficulties, as it's becoming urgent to fight against the global warming crisis. And this is the only way for China to act really as friendly as it used to be.

Mathematical Analysis

So this is it, my first blog in English. Actually I was always thinking about writing something in English, you know, just for knowing more people and sometimes because of Internet control of the Chinese government, you can't write too many critics in Chinese, and if you 're living in China and you do that, you 're in a dangerous situation even if you don't realize that. But it seems that the government is not very concerned about the English websites, as they consider that not "massive", which means just a small part of the people could read it, spread it ,and exchange their ideas within themselves. I am, unfortunately, one of this "elite" people.

Those a few words above could be considered as the start. I really don't like critizing the Chinese government, and I didn't expect that I would start my english blog with the kind of complain of the media control. I mean, I was educated as a loyal supporter of the Chinese Communist Party, and so far I still am. Even if from as soon as I start living in France I read lots of critics on the newspapers, I really doubt their credibility and accoutancy. For exemple, about the media control, honestly I think it is reasonable according to the current situation of the society, of course it's a quesion about eggs and chickens,but I think it's doing well in China(I'll stop here ,but I'll give more details of this question).

The title of this article is Mathematical Anlysis, yes, what I am working on. I could tell you guys I passed all the afternoon at desk but finally I did nothing. This is not unusual so I am not worrying, just take it easy and it's gonna be ok. I'll let this be the end of my first article, for reminding me of revision, lol, everyone needs working.

Finally, if there is any Chinese reader here,please please don't consider me a guy admiring the outside but have forgot his home country, I write this blog just for myself, and I don't expect much, thank you for your comprehension.