JING HUA TIMES Finance News Highlights 2009-3-4

1. During the Geneva Car Exhibition 2009, Audi releases the new A4 Allroad.

2. AIA (The Association of International Accountants) separated itself from the AIG (American International Group) hoping for a more successful future. B 35

3. Dow Jones Index fell significantly by 6800 points since the Asian financial crisis in 1997; the American stock market is dropping sharply, which has had a negative effect on stock markets around the world. B 40

4. A survey from CITI Bank showed that 49% of people who live in Beijing and Shanghai own their own houses. B 34

JING HUA TIMES General News Highlights 2009-3-4

1. Civil Aviation Administration of China (CAAC) has confirmed that China will not stop buying Airbus. A 10

On Feb. 25 2009, news from a European Airbus Company said that they were not able to cooperate with China on exporting 150 airplanes. The statement was confirmed untrue yesterday.

2. For the coming National 60^th birthday ceremony, Beijing government is going to redecorate the west part of Changan street (the famous & longest street in China); 12 series of Hutongs will be painted in dark red to reflect the traditional Chinese culture. A 11

3. The former headmaster of a primary school in Beijing was arrested for stealing a 700 thousand RMB donation. A 13

4. A boy went on a crazy shopping spree in the new Dongan shopping mall (located at Wangfujing shopping area) on the 26^th of February spending over 10 thousand RMB in one day. A 16

5. Yesterday, on the opening ceremony of CPPCC (Political Consultation Congress), for the first time members sang along the national anthem instead of simply listening to it. A 02 -Main News-

6. Chinese Construction Commission announced there will be 10,000 price-limit houses on the market later this year. A 12

Price-limit houses are a type of house which limits both size and price; this special option makes it possible for low-income families to purchase a house.

2009-3-3 JING HUA TIMES General News Highlights

1. Patriotic bidder prevented relics' sale. The collector said he made a fake offer to protest Christie's auction. A 06

The mystery bidder for the 2 looted Chinese bronze relics, sold at Christie's high profile auction in Paris last week, revealed his identity yesterday.

Cai Mingchao, 44, told a press conference in Beijing that he will not pay for the bids; and that he made the bogus offer to protest the sale of the looted Chinese relics.

2. The CPPCC (Political Consultation Congress) is starting at 15pm today. A 02-04

3. The Chinese State food and drug administration announced yesterday that Shenyang Feilong Medicine Company is no longer active in Beijing, after being found guilty of illegal advertisement. A 07

4. The former vice-president of China Development Bank was sentenced to life imprisonment for accepting bribes. A 09

5. The Ministry of Public Health is drafting a series of safety standards for diary production in China. They will be completed in 6 months. A 05

2009-3-3 JING HUA TIMES Finance News Highlights

1. Sanyuan gears up for Sanlu assets. B 36

Firm faces challenge taking over troubled milk powder maker. Beijing Sanyuan Food Co. Ltd is fully prepared to take over the assets of the company at the center of last year's melamine scandal. According to Sanyuan executives about 30 percent of Sanlu's sales will be recovered within this year.

2. HSBC to raise new capital and cut jobs. Bank posts 50% fall in net earnings, to cut dividend by 29%.

HSBC Holdings yesterday said it would raise a total of $17.7 billion in new capital from shareholders in a rights issue to strengthen its financial structure after reporting a more than 50 percent fall in 2008 earning and, as expected, a surge in bad debts in the US.

3. The Chinese Insurance Regulatory Commission announced that the new Insurance Law is going to be carried out from Oct. 1^st 2009. B 35

4. Chinese national enterprises profits surged to RMB 665.29 million in 2008 .

5. The Chinese government and the Air Industry Group Co. signed a contract for creating three important projects in the airline industry in Beijing. B 36

6. China is going to standardize the enterprises which are planning to expand their markets overseas to help them succeed. B 34

7. The US government allocated a $30 million fund for rescuing American International Group (one of USA's top Insurance company). B 40

8. The Shanghai stock market index went slightly up. B 42

2009-3-2 JING HUA TIMES Finance News

1. China United Telecommunications Co. Ltd. will stop local cell phone prepaid card from April. B 37

2. Google Apps Premier Edition clients were compensated $2.05 by Google for the mail system error on Feb 24^th. B 37

3. Sony announced company reform proposal. B 36

It will set up two new groups which are networking production and service groups.

4. Chinese Banking Association announced on its website that there will not be any tied purchase close for the applicants of the 30%-off housing loan. B 38

5. With the development of Internet e-shopping has become a popular trend for personal purchases. This is the preferred way of shopping since both buyers and sellers can benefit from it. Investment B 42

2009-3-2 JING HUA TIMES General News

1. The Chinese Satellite Chang'e 1 ends its lunar mission with a bang.

China's lunar probe ended its 16-month mission with a controlled crash onto the moon yesterday, officials said. A 02

2. The 2009 Political Consultation Congress will start on March 3^rd and will last until the 12^th of March. A 02

3. From March 15^th a series of Recruitment Fairs for migrant workers will take place in Beijing. These events aim to promote the employment of migrant workers in the capital. A 03

4. The Chairman Mao Zedong Memorial Hall will be closing for 20 days due to reconstruction. It will reopen on March 21^st. A 04

5. Coupons to lure tourists. A 11

Shanghai residents hold up the latest batch of promotional coupons issued by Hangzhou tourism commission yesterday to boost visitor numbers. The commission said two branches of the Bank of Hangzhou in Shanghai had already handed out 30,000 books of the vouchers, worth 4.5 million RMB.

JING HUA TIMES General News Highlights

1. As security measures for the NPC (the National People's Congress) and CPPCC (Political Consultation Congress), starting today cars coming from outside Beijing will be checked one by one. 05

JING HUA TIMES Finance News Highlights

1. 1000 Fou drums (Fou is an ancient Chinese instrument thousands of years ago discovered in Shanghai) from 2008 Beijing Olympics is going to attend public auction next month. 33

2. Branch of Beijing Industrial and Commercial Bank offers a one-stop (no evaluation and guarantee fees) service for applying a second-hand housing loan. 34

3. The newly-opened department of small and medium-sized enterprises of Bank of China announced yesterday, they are the first financial department who serve such a group of enterprises. 34

4. The board of Southern Airlines passed a 3 billion RMB capital proposal yesterday. 35

5. The State appropriated on passing a proposal about anti-importing Chinese poultry. China shows strong dissatisfaction. 34

JING HUA TIMES Finance News Highlights

1. The 1000 Fou drums (Fou is an ancient Chinese instrument discovered thousands of years ago in Shanghai) used in the 2008 Beijing Olympics are going to be publicly auctioned next month. 33

2. A Branch of Beijing Industrial and Commercial Bank offers a one-stop service (no evaluation and guarantee fees) for applying for mortgages on second-hand houses. 34

3. Bank of China announced yesterday its newly-opened department for small and medium-sized enterprises; this is the first financial department that serves this target group. 34

4. The board of Southern Airlines passed a 3 billion RMB capital proposal yesterday. 35

5. The USA allocated funds for facilitating the approval of the proposal against Chinese poultry imports. China shows strong dissatisfaction. 34

JING HUA TIMES General News Highlights

1. Christie's put on notice after sale. A 04/05

Heritage authority warns of severe impact on auction house's business.

2. Beijing protests Aso's remarks. A 02

China yesterday voiced great dissatisfaction and lodged a protest to Japan over Prime Minister Taro Aso's remarks that the Diaoyu Islands are Japanese territory.

3. Traffic Management Bureau is starting using helicopter to enhance transportation management in Beijing.

4. Human rights report decried. Govt denounces "hypocritical" US State Dept document on China. A 17

5. The Organization Department of China has created a website to the public for reporting personnel problems. A 02

6. The State Council of China published <Tourism Agency Rules>, saying each tourism agency has to deposit guarantee to banks after they get the permit. The rules are gong to carry out from May 1^st this year. A 03

7. Bureau of Labor and Social Security announced a notice about <Introducing boil Chinese medicine fees into reimbursement of General Medical Insurance>, which starts from April 1^st. A 07

JING HUA TIMES Finance News Highlights

1. National Social insurance fund is under deficit found 8 years; Accumulated income is 169 billion RMB. B 37

2. Federal Reserve System president said, the US economy would face spring next year. B 38

3. The revitalization programs of 10 top industries are ready.

4. Agricultural Bank of China opens 600 million RMB individual credit plan. B 35

5. Industrial and Commercial Bank of China enters top 10 in global finance. B 35

6. Lenovo (the biggest computer co. in China) cut 450 work positions. B 36

7. Air rental company Qi Long (found in the end of 2006, a joint foreign company) introduces an Airbus from Toulouse, France. B 36

8. Going to Thai land will be no visa charge. B 40

9. The trend of stocks of bank has been doing positively to the stock market, which helped the Shanghai stock keep 2200 index points. B 43

JING HUA TIMES General News Highlights

1. Anniversary treatment.
   

Workers renovate the Golden Water Bridge at Beijing's Tian'anmen Square for the 60^th anniversary of the founding of the People's Republic of China.

2. Chinese ship sinks in Russian waters, 7 missing.

7 Chinese sailors were missing after Chinese cargo ship sank in Russian waters near Japan on Saturday, the Foreign Ministry said yesterday. Though the ministry did not say why the vessel sank, a Chinese language newspaper reported yesterday that the Russian navy had fired at it.

3. From April this year, Chinese elder citizens can buy insurance for only 960 RMB.

4. China reiterates the sovereignty of HuangYan island.

5. Drivers who modify the taximeter would be punished seriously.
   

6. MengNiu (one of the biggest milk companies in China) claims that the "OMP milk" can be returned by consumers.
   

However, the CEO said that they will not pull back products from the stores for now.

4. The 24^th Winter Universiade (University students' world wide sport event) starts at Harbin (Northeast of China).
   

China aims to improve its golden medal record in this month's Winter Universiade.