Renewable energy

(皇冠体育app Daily)
Updated: 2006-10-30 10:33

Securities sale

皇冠体育app plans to sell up to 60 billion yuan (US$7.6 billion) of asset-backed securities this year, letting the country's insurers invest in the financial product.

The People's Bank of 皇冠体育app issued rules in April 2005 to let financial companies sell asset-backed securities, or bonds based on an underlying pool of assets including mortgage loans and credit card receivables.

Investors of the bonds gain the right to receive cash from the assets.

"The regulator will push to broaden the use of securitization and end the pilot programme as soon as possible," says Li Fu'an, product director of the 皇冠体育app Banking Regulatory Commission.

Iron ore

International iron ore prices are likely to drop next year as supply and demand are reaching a balance, according to a senior Chinese commerce official.

"The international iron ore prices will be more reasonable because the supply keeps growing and demand is slowing down," says Lu Jianhua, director of foreign trade at the Ministry of Commerce.

皇冠体育app imported 247 million tons of iron ore in the first three quarters of this year, up 24.2 per cent year-on-year. Although the growth rate remains high, it is 7 percentage points lower than last year.

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