BIZCHINA / Weekly Roundup
Internet user growth
(China Daily)
Updated: 2006-07-24 10:14
Energy security
President Hu Jintao last week called for international dialogue and
co-operation between energy exporters and consumers to ensure global
energy security.
To do this, the international community should work together to maintain
a sound political climate favourable for safeguarding the stability of
energy-producing countries and regions, the Middle East in particular, Hu
urged at the outreach session of the Group of Eight (G8) Summit in Saint
Petersburg.
"To ensure global energy security," Hu says, "we need to develop and
implement a new energy security concept that calls for mutually
beneficial co-operation, diversified forms of development and common
energy security."
Scaling down
The government plans to cut the number of securities brokers by half by
the end of the year.
As the number of brokers is reduced, a dozen powerful players will be
assisted in consolidating their strength in the opening sector.
"Only around 50 qualified brokers will survive in the market, the others
will have to quit trading or be purchased," says He Jiawu, a director of
the Securities Association of China (SAC).
Currently the China Securities Regulatory Commission (CSRC) and the SAC
have qualified 32 brokers, meaning around 90 firms are left competing for
the last 18 available qualifications.
Brokers without qualifications will be banned from the securities trade
after 2006, according to He.
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