Quick review: June 19-25
(China Daily)
Updated: 2006-06-26 07:02 E-savings bonds
China will issue electronic savings bonds to individual investors for the
first time, expanding investment channels for households that traditionally put
their savings in banks.
The non-tradable bonds will only be available to individuals, and will be
issued by the Ministry of Finance in the near future.
The savings bonds are aimed at absorbing household savings and meeting
long-term savings investment demand. The savings bonds can be bought, managed
and redeemed electronically.
Risk management
State-owned enterprises should set up a risk management commission to prevent
losses and enhance their competitiveness, the State-owned Assets Supervision and
Administration Commission said in guidelines released last Tuesday.
The guidelines shed light on the overall principles, basic processes and
evaluation of risk management. It is aimed at avoiding a recurrence of the China
Aviation Oil Singapore Co case, which forced the company to request bankruptcy
protection last November, after losing US$550 million in oil derivatives trading
in 2004.
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