BIZCHINA / Finance
10th Five-Year Plan
Updated: 2006-04-18 10:13
4. Information Publishing System of Commercial Banks
The Guides to the Information Publishing of Commercial Banks was issued
to encourage commercial banks to perfect their information-publishing
system. To date, the Shanghai Pudong Development Bank and another two
listed banks have published information for the public; the Bank of China
has released the five-level classification information about loans; PBC
has assigned the mass media, such as newspapers and periodicals, to
publicize regulations, rules, systems, working procedures and their
results with respect to monetary policies and financial supervision.
External supervision from intermediary organs like accounting (auditing)
offices have also become important.
To date, 354 accounting (auditing) offices and credit-appraising
institutions have obtained the qualification to conduct financial audits.
From 2001, PBC has stipulated that all commercial banks should have their
year-end financial reports audited by qualified accounting (auditing)
offices and surrender the results to PBC. A credit registration and
advisory system has been established in 326 cities at the town level and
above. In addition, a personal joint-credit reference system has been
established in Shanghai to provide credit services to the public and
financial institutions.
5.The enterprise's market scale
The four State-owned commercial banks monopolize the domestic banking to
a great extent. But, as competition becomes increasingly severe, this
condition is beginning to change, especially in the aspect of loan
increases.
At the end of 2001, the total deposit balance of the country's financial
institutions was 1,436,000 billion yuan (US$173,012 billion), with a loan
balance of 11,230 billion yuan (US$1,353 billion) -- up 16 and 11.6
percent respectively year-on-year. Among them, the deposit balance of
State-owned commercial banks were 8,750 billion yuan (US$1,054.2
billion), with a loan balance of 6,470 billion yuan (US$779.5 billion) --
up 13.72 and 11 percent year-on-year, accounting for 61 and 58 percent of
the total, respectively.
The deposit and loan balances of joint-equity banks reached 1,660 billion
yuan and 1,450 billion yuan -- up 37.77 and 36.17 percent, accounting for
12 and 10 percent of the total, respectively. The deposit and loan
balances of city commercial banks amounted to 6,790 billion yuan and
4,530 billion yuan, assuming 5 and 4 percent of the total, respectively.
The deposit and loan balances of the city's credit cooperatives were
1,830 billion yuan and 1,270 billion yuan, accounting for 13 and 11
percent of the total, respectively.
6. Employee wage level
In 1999, there were 2 million staff members with an average wage level of
12,033 yuan per year. By the end of 2002, with a growing money supply, M2
totaled 18,500.7 billion yuan -- an increase of 16.8 percent over the
previous year; M1 totaled 7,088.2 billion yuan -- up 16.8 percent over
the previous year; totaled 1,727.8 billion yuan, climbing 10.1 percent
over the previous year.
In 2002, as deposits and loans of financial institutions also ballooned,
the total deposit balance of financial institutions amounted to 18,338.8
billion yuan, up 18.1 percent over the previous year. The total loan
balance reached 13,980.3 billion yuan, up 15.4 percent over the previous
year. The loan structure was also improved step by step. The total loan
balance of rural credit cooperatives amounted to 1,394 billion yuan, up
195.3 billion yuan over the previous year. The loan balance for
consumption use totaled 1,066.9 billion yuan, up 369.4 billion yuan,
among which the loan balance for purchasing individual houses totaled
825.8 billion yuan -- up 267.1 billion yuan over the previous year.
Tenth Five-Year Plan of the Securities Industry and its Development
I. Development of the Securities Industry
1. General market situation
In 2000, China's securities market took a new step towards
market-oriention and standardizing by accelerating its market-oriented
reform and improving its standardization. Over one year, the market scale
was enlarged and the direct financing capability was significantly
improved. The market's supervisory and management role underwent big
changes and the interests of investors were stressed.
Market structure was also improved and new regulations are constantly
being formulated. Many unresolved problems are being put on the agenda
and market risk is now effectively under control. All such achievements
in the securities market resulted from the steady, rapid and healthy
development of the national economy and the stabilized social and
political macro-environment. Other contributing factors include the
deepening reform, clearing up and rectifying the market and preventing
and solving market risks since 1998.
Market scale has also been on the rise. By the end of 2000 there were
1,088 listed companies in China -- an increase of 139 -- up 14.6 percent
compared to 1999. Total capital stocks of the listed companies amounted
to 379.17 billion yuan (US$45.68 billion), increasing 22.75 percent.
Total stock market value jumped 84.6 percent to 4,800 billion yuan,
accounting for 54 percent of the Gross Domestic Product (GDP). Investor
accounts totaled 58.01 million -- an increase of 13.20 million -- up 29.4
percent over the previous year. Investors included 280,000 organizational
investors, up 40 percent from 200,000 over the previous year, and 57.73
million individual investors, up 29 percent from 44.61 million over the
previous year.
Total capital climbed 71.7 percent over last year, with 154.11 billion
yuan from the domestic stock market and others from overseas-listed
companies and red chips. Capital raised by overseas H-share and red tips
amounted to 174.41 billion yuan, up 398 percent. The successful stock
issuance of China Unicom, Sinopec and China Petrol demonstrates that
overseas organizational investors' confidence is now on the rise. Even
though major world stock markets are undergoing fluctuation, the Chinese
stock market is still running smoothly. In 2000 the composite indexes of
the Shanghai and Shenzhen stock markets skyrocketed, with Shanghai
closing at 2073.5 -- an increase of 51.7 percent over 1999 -- and
Shenzhen closed at 635.7, up 58.1 percent over the previous year to rank
first in the world. The stock exchange value also increased greatly. The
total value of the stocks exchange in both cities amounted to 6,082.67
billion yuan, up 94.2 percent. The stock exchange stamp tax climbed 96
percent to 48.59 billion yuan.
2. Stock transaction review
The 2000 China stock market remained steady, bolstered by the
rejuvenation of the national economy as both primary and secondary
markets developed together. Total market value reached 4,809.1 billion
yuan by the end of 2000, up 81.67 percent over the previous year,
accounting for 57 percent of the GDP.
The current circulating value jumped 95.86 percent to 1,608.8 billion
yuan. The Shanghai composite index closed at 2073.48 and Shenzhen at
635.73, up 51.73 percent and 58.07 percent respectively compared to 1999.
Total business value in the two cities reached 6,082.7 billion yuan with
a daily value of 25.55 billion yuan. This year's stamp tax totaled 48.5
billion yuan, up 100 percent from 1999. Average share prices are 13.14
yuan and 14.23 yuan respectively in the two cities and the daily exchange
rates are 1.77 percent and 1.85 percent respectively.
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